Hartford Series Fund

Portfolio Managers

Steven T. Irons, CFA

John C. Keogh

Peter I. Higgins, CFA

Christopher L. Gootkind, CFA

Senior Vice President, Partner

Senior Vice President, Partner

Senior Vice President

Vice President

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number: 811-08629

HARTFORD SERIES FUND, INC.

(Exact name of registrant as specified in charter)

P. O. Box 2999, Hartford, Connecticut 06104-2999
(Address of Principal Executive Offices)

Edward P. Macdonald, Esquire
Life Law Unit
The Hartford Financial Services Group, Inc.
200 Hopmeadow Street
Simsbury, Connecticut 06089
(Name and Address of Agent for Service)

Registrant’s telephone number, including area code: (860) 843-9934

Date of fiscal year end: December 31, 2008

Date of reporting period: January 1, 2008 — December 31, 2008

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Hartford Series Fund, Inc.

Hartford HLS Series Fund II, Inc.

Table of Contents


Manager Discussions (Unaudited)		1
Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. Financial Statements:
Schedule of Investments as of December 31, 2008:
Hartford Advisers HLS Fund		62
Hartford Capital Appreciation HLS Fund		67
Hartford Disciplined Equity HLS Fund		72
Hartford Dividend and Growth HLS Fund		74
Hartford Equity Income HLS Fund		76
Hartford Fundamental Growth HLS Fund		78
Hartford Global Advisers HLS Fund		80
Hartford Global Equity HLS Fund		87
Hartford Global Growth HLS Fund		93
Hartford Global Health HLS Fund		95
Hartford Growth HLS Fund		97
Hartford Growth Opportunities HLS Fund		99
Hartford High Yield HLS Fund		101
Hartford Index HLS Fund		106
Hartford International Growth HLS Fund		112
Hartford International Opportunities HLS Fund		114
Hartford International Small Company HLS Fund		117
Hartford LargeCap Growth HLS Fund		119
Hartford MidCap HLS Fund		121
Hartford MidCap Growth HLS Fund		123
Hartford MidCap Value HLS Fund		126
Hartford Money Market HLS Fund		128
Hartford Small Company HLS Fund		130
Hartford SmallCap Growth HLS Fund		135
Hartford SmallCap Value HLS Fund		140
Hartford Stock HLS Fund		147
Hartford Total Return Bond HLS Fund		149
Hartford U.S. Government Securities HLS Fund		159
Hartford Value HLS Fund		164
Hartford Value Opportunities HLS Fund		166
FAS 157 Disclosure of Investment Valuation Hierarchy Levels as of December 31, 2008		168
Statements of Assets and Liabilities as of December 31, 2008		174
Statements of Operations for the Year Ended December 31, 2008		180
Statements of Changes in Net Assets for the Years Ended December 31, 2008 and December 31, 2007		186
Notes to Financial Statements		196
Financial Highlights		216
Report of Independent Registered Public Accounting Firm		224
Directors and Officers (Unaudited)		225
Shareholder Meeting Results (Unaudited)		227
How to Obtain a Copy of the Funds’ Proxy Voting Policies and Proxy Voting Records (Unaudited)		227
Quarterly Portfolio Holdings Information (Unaudited)		227
Expense Example (Unaudited)		228
Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)		230

This report is prepared for the general information of contract owners and is not an offer of contracts. It should not be used in connection with any offer, except in conjunction with the appropriate prospectus which contains all pertinent information including the applicable sales, administrative and other charges.

The views expressed in each Fund’s Manager Discussion under “Why did the Fund perform this way?” and “What is the outlook?” are views of the Fund’s subadvisers and portfolio management team through the end of the period and are subject to change based on market and other conditions.

Hartford Advisers HLS Fund inception 3/31/1983

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Barclays Capital Government/Credit Bond Index is an unmanaged, market value-weighted index of all debt obligations of the U.S. Treasury and U.S. Government agencies (excluding mortgage-backed securities) and of all publicly issued fixed-rate, nonconvertible, investment grade domestic corporate debt.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal — Seeks maximum long-term total return.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Advisers IA		-31.64	%		-2.13	%		-0.41	%

Advisers IB		-31.81	%		-2.38	%		-0.63	%

Barclays Capital Government/Credit Bond Index		5.70	%		4.64	%		5.64	%

S&P 500 Index		-36.99	%		-2.19	%		-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

How did the Fund perform?

The Class IA shares of the Hartford Advisers HLS Fund returned -31.64% for the twelve-month period ended December 31, 2008, versus the returns of -36.99% for the S&P 500 Index and 5.70% for the Barclays Capital Government/Credit Bond Index. The Fund underperformed the
-29.60% return of the average fund in the Lipper Mixed-Asset Target Allocation Growth VP-UF Funds peer group, a group of funds that hold between 60%-80% in equity securities, with the remainder invested in bonds, cash, and cash equivalents.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in history. After a positive start to the year, global equity markets stumbled as a widespread contraction in credit led to major changes in the financial landscape. These included the near collapse of the large investment bank Bear Stearns, government takeovers of Fannie Mae and Freddie Mac, the bankruptcy of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy weakened further, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a U.S. and global recession, investors sought to shed risk, punishing equity and credit-related securities broadly in favor of the safety of government bonds. The credit crunch intensified as lending standards tightened and broad-based deleveraging occurred. During the period, the U.S. Federal Reserve cut the federal funds rate to a target range of 0% - 0.25% and indicated that low rates are likely to persist for an extended period of time. The government also introduced a number of liquidity programs in an effort to alleviate pressures in the fixed income markets and renew investor confidence.


		1

Treasury yields reached record lows, economic conditions deteriorated further, and a U.S. recession was confirmed in December.

Equity markets as measured by the S&P 500 returned -36.99% during the period, as all sectors within the index posted double-digit declines. Financials (-56%), Materials (-46%), and Information Technology (-43%) were the biggest laggards, while traditionally defensive sectors Consumer Staples (-15%) and Health Care (-23%) declined the least. The bond market, as measured by the Barclays Capital Government/Credit Index, returned +5.7% during the period. However, amid the flight to quality, Treasury securities rose while most non-Treasury fixed income sectors fell.

The Fund has three primary levers to generate investment performance: equity investments, fixed income investments, and asset allocation among stocks, bonds, and cash. During the period, the equity portion and the fixed income portion of the Fund both underperformed their respective benchmarks. Asset allocation detracted from the Fund’s performance as the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) to equities and underweight (i.e. the Fund’s sector position was less than the benchmark position) to fixed income hurt relative (i.e. performance of the Fund as measured against the benchmark) returns.

Equity underperformance versus the benchmark was primarily driven by security selection, which was weakest in Financials, Information Technology, and Energy. Sector positioning, which is a result of bottom-up (i.e. stock by stock fundamental research) security selection, also detracted from performance due to underweight exposures to Consumer Staples and Utilities, and overweight exposures to Financials and Information Technology.

Stocks that detracted the most from the equity portion of the Fund’s relative returns during the period were Washington Mutual (Financials), Gazprom (Energy) and Lehman Brothers (Financials). Shares of consumer and small business banking company Washington Mutual fell significantly early in the year on fears that the losses it would incur on its residential real estate portfolio could force another dilutive capital raise and depress earnings for the next several years. We believed the company had substantial resources to weather the current environment and absorb the coming losses through the credit cycle. However, the FDIC forced the company’s hand by publicly expressing concern about the quality of their mortgage assets and by facilitating an acquisition by JP Morgan to minimize future risk to FDIC insurance assets. Gazprom, the world’s largest natural gas producer, saw its shares fall amid a weakening economic environment, escalating geopolitical concerns, and declining natural gas prices. Investment bank Lehman Brothers’ shares collapsed as the company fell victim to the financial crisis during the third quarter; lack of confidence, a liquidity crisis, and an inability to attract a partner ultimately led to the firm’s demise. Significant detractors from absolute (i.e. total return) returns also included General Electric (Industrials), Alcoa (Materials) and Goldman Sachs (Financials).

Top contributors to equity performance, on a relative basis, during the period were Shionogi (Health Care), Delta Air Lines (Industrials) and Comcast (Consumer Discretionary). Shares of Shionogi, a Japanese pharmaceutical company, rose after the company reported steady earnings growth driven by sales of cholesterol-lowering drug Crestor and allergy drug Claritin. Delta Air Lines’ share price rallied on falling oil prices in the second half of the year. Shares of cable company Comcast outperformed as the company’s solid operating results during a challenging economic environment helped the stock price. The Fund’s holdings in Qualcomm (Information Technology) and Genentech (Health Care) also contributed positively to the equity portion of the Fund’s returns on an absolute basis.

The fixed income portion of the Fund underperformed its benchmark primarily due to its overweight allocations to spread sectors (i.e. those that offer yield premiums over Treasuries). The Fund’s allocations to mortgage-backed securities (MBS), in particular nonagency MBS, commercial mortgage-backed securities (CMBS), and asset-backed securities (ABS), and an overweight to corporate bonds all detracted from relative results. During the twelve-month period, mortgage-backed pass-through securities underperformed duration-equivalent Treasuries due to increased interest rate volatility and a lack of market liquidity which led to forced selling of even higher quality assets. Nonagency MBS also suffered in this environment as the liquidity premium combined with elevated risk aversion pushed valuations materially lower. CMBS spreads widened as recession concerns mounted and speculation increased that commercial real estate defaults would rise. Corporate spreads also widened amid growing risk aversion, a lack of liquidity, and the largest bankruptcy in corporate bond history, Lehman Brothers. The Fund’s overweight positioning in these sectors detracted from relative performance. In addition, the Fund was positioned with an overweight to corporate debt issued by Financials. Financial issuers, at the epicenter of the credit crunch, underperformed and the Fund’s credit security selection had a negative impact on relative results.

What is the outlook?

We believe that recent government intervention will reduce systemic risk. However, U.S. economic fundamentals remain weak and the risk of further downside surprises in growth remains.

The equity portion of the Fund is managed with a large cap, core approach. We apply a bottom-up investment process in constructing a diversified portfolio. We look for companies that exhibit the following qualities: industry leadership, strong balance sheets, solid management, high return on equity,


		2

accelerating earnings, and/or attractive valuation with a catalyst. At the end of the period, our bottom-up investment approach resulted in overweight exposures in Information Technology, Financials and Consumer Discretionary, as we found a number of attractive investment opportunities in these sectors. The Fund’s largest underweights relative to the S&P 500 were in Utilities, Consumer Staples, and Telecommunication Services.

The fixed income portion of the Fund ended the period positioned with a neutral duration (i.e. a measure of interest rate sensitivity) posture. We expect that the global slowdown will lead to further write-downs and deleveraging for corporations as the financial system struggles to raise new capital and that profits will be pressured amid slower growth. However, as of the end of the period, the Fund valuations were attractive with spreads at levels wider than in past recessions, and we positioned the Fund with an overweight to the credit sector. Government initiatives were focused on the mortgage sector and mortgage spreads continue to be attractive relative to Treasuries. The Fund ended the period with an allocation to MBS pass-throughs and select non-agency MBS, where default concerns priced into the valuations were excessive. In the CMBS market, wide spreads reflect deteriorating fundamentals. We continue to believe that there is strong collateralization in senior CMBS tranches. These securities are priced for high levels of losses and we believe that the implied loss levels are too severe. We also held a modest allocation to the ABS sector primarily in auto and credit card deals at period end.

The equity and fixed income managers will continue to work collaboratively to make decisions regarding portfolio weights in stocks, bonds, and cash. As of December 31, 2008, the Fund’s equity exposure was at 68% compared to 60% in its benchmark and at the upper end of the Fund’s 50-70% range.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.3	%

Banks		2.9

Capital Goods		3.6

Commercial & Professional Services		0.3

Consumer Cyclical		0.6

Consumer Staples		0.9

Diversified Financials		7.9

Energy		9.9

Finance		10.9

Food & Staples Retailing		3.3

Food, Beverage & Tobacco		2.4

General Obligations		0.5

Health Care		0.7

Health Care Equipment & Services		3.2

Household & Personal Products		0.4

Insurance		0.5

Materials		2.0

Media		3.5

Pharmaceuticals, Biotechnology & Life Sciences		7.5

Retailing		4.0

Semiconductors & Semiconductor Equipment		3.2

Services		0.2

Software & Services		4.1

Technology		1.3

Technology Hardware & Equipment		5.6

Telecommunication Services		0.9

Transportation		3.4

U.S. Government Agencies		4.4

U.S. Government Securities		9.0

Utilities		1.3

Short-Term Investments		0.8

Other Assets and Liabilities		0.5

Total		100.0	%

Distribution by Security Type
as of December 31, 2008


	Percentage of
Security Type	Net Assets

Asset & Commercial Mortgage Backed Securities		2.2	%

Common Stocks		68.1

Corporate Bonds: Investment Grades		14.5

Municipal Bonds		0.5

U.S. Government Agencies		4.4

U.S. Government Securities		9.0

Short-Term Investments		0.8

Other Assets and Liabilities		0.5

Total		100.0	%


		3

Hartford Capital Appreciation HLS Fund inception 4/2/1984

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 3000 Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization.

Investment goal — Seeks growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Capital Appreciation IA		-45.59	%		0.44	%		5.41	%

Capital Appreciation IB		-45.73	%		0.19	%		5.17	%

Russell 3000 Index		-37.31	%		-1.95	%		-0.80	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Saul J. Pannell, CFA	Mario E. Abularach, CFA, CMT	Jeffrey L. Kripke	David W. Palmer, CFA
Senior Vice President, Partner	Vice President	Vice President	Vice President
Nicolas M. Choumenkovitch	Peter I. Higgins, CFA	Paul E. Marrkand, CFA
Senior Vice President	Senior Vice President	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Capital Appreciation HLS Fund returned -45.59% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the Russell 3000 Index, which returned -37.31% for the same period. The Fund also underperformed the
-38.66% return of the average fund in the Lipper Multi-Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

After rising for five consecutive years, equity markets, as measured by the Russell 3000 Index, fell in 2008 as investors sought to shed risk in response to increasing concerns about the financial system and a looming global recession. An extended credit crunch has reshaped the financial landscape, beginning with the near collapse of the large investment bank Bear Stearns in February and culminating more recently in the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also slowed, sending energy and commodities prices lower.

Weakness was broad-based as every sector in the Russell 3000 Index declined by double digit amounts. Financials (-50%), Materials (-47%), and Information Technology (-43%) led the way lower. Relative strength was seen in traditionally defensive sectors Consumer Staples (-17%), Health Care (-24%), and Utilities (-28%).

The Fund underperformed its benchmark primarily due to weak stock selection. Fund results trailed those of the benchmark in nine of ten economic sectors, with the largest underperformance in the Materials, Financials, and Energy sectors. Selection was stronger in Information Technology. Allocation among sectors, a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process, was a negative contributor, largely due to underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in Consumer Staples and Utilities. The Fund benefited from a modest cash position, which helped relative (i.e. performance of the Fund as measured against the benchmark) performance in a downward-trending market.


		4

The largest detractors from relative returns were Vedanta Resources (Materials), Ford Motor (Consumer Discretionary), and American International Group (AIG) (Financials). Vedanta, a diversified London-based mining company with operations in India, Zambia and Australia, was negatively impacted by falling commodity prices and negative investor reaction to a proposed reorganization plan. Shares of automotive company Ford Motor fell on concerns about the company’s near term earnings outlook and the unexpected retirement of its Chief Financial Officer. Insurer AIG saw its shares plummet as liquidity constraints and credit rating downgrades led to an unprecedented government bailout of the firm. The Fund also was negatively impacted by its underweight position in Exxon Mobil, a relatively strong performer during the year. Top detractors from absolute (i.e. total return) results included industrial and financial conglomerate General Electric, financial services company Bank of America, and investment bank Goldman Sachs.

ACE (Financials), Teva Pharmaceuticals (Health Care), and Roche (Health Care) were among the top contributors to relative returns. ACE, a global property and casualty insurance company, got a share price boost from robust earnings results. Shares of Israeli drug manufacturer Teva Pharmaceuticals rose after the company reported better-than-expected earnings driven by strong sales of its multiple-sclerosis drug Copaxone. Shares of Swiss pharmaceutical company Roche benefited from positive news related to its portfolio of cancer drugs, including one used to treat rheumatoid arthritis. The Fund also benefited from its underweight position in Apple, shares of which fell significantly during the period. Top absolute contributors included airline operator Delta Air Lines, agricultural products company Archer-Daniels-Midland, and online travel firm Priceline.com.

What is the outlook?

Global equities tumbled over the past year on a deteriorating outlook for earnings and sharply increased fear levels among investors. The U.S. Treasury and Federal Reserve, in concert with several foreign governments, have embarked on an unprecedented series of rescue moves, but the results remain to be seen. In the wake of these capital market events, business and consumer confidence and spending have moved lower.

In this environment we continue to focus our efforts on stock-by-stock fundamental research. These bottom-up investment decisions have resulted in overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in the Health Care, Financials, and Consumer Discretionary sectors and underweight exposure to Consumer Staples, Utilities, and Telecommunication Services. The Fund’s largest absolute positions were in the Health Care, Financials, and Information Technology sectors.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		1.9	%

Banks		2.6

Capital Goods		9.8

Commercial & Professional Services		0.5

Consumer Durables & Apparel		0.7

Consumer Services		0.4

Diversified Financials		8.6

Energy		10.9

Finance		0.9

Food & Staples Retailing		0.5

Food, Beverage & Tobacco		3.0

Health Care Equipment & Services		6.3

Household & Personal Products		0.7

Insurance		5.2

Materials		4.7

Media		3.4

Other Investment Pools and Funds		0.7

Pharmaceuticals, Biotechnology & Life Sciences		12.2

Real Estate		0.5

Retailing		4.5

Semiconductors & Semiconductor Equipment		1.5

Software & Services		5.9

Technology Hardware & Equipment		7.9

Telecommunication Services		2.3

Transportation		1.3

Utilities		1.2

Short-Term Investments		1.0

Other Assets and Liabilities		0.9

Total		100.0	%


		5

Hartford Disciplined Equity HLS Fund inception 5/29/1998

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal — Seeks growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Disciplined Equity IA		-37.27	%		-2.46	%		-0.98	%

Disciplined Equity IB		-37.43	%		-2.70	%		-1.21	%

S&P 500 Index		-36.99	%		-2.19	%		-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

James A. Rullo, CFA		Mammen Chally, CFA
Senior Vice President, Partner		Vice President

How did the Fund perform?

The Class IA shares of the Hartford Disciplined Equity HLS Fund returned -37.27% for the one year period ended December 31, 2008, underperforming its benchmark, the S&P 500 Index, which returned -36.99% for the same period. The Fund outperformed the -38.76% return of the average fund in the Lipper Large-Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in history. After a positive start to the year, global equity markets stumbled as the widespread contraction in credit led to major changes in the financial landscape. These included the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a potential U.S. recession, equity investors sought to shed risk, punishing equity securities broadly.

Large (-37%), mid (-36%), and small (-34%) cap stocks declined in unison during the period, as measured by the S&P 500 , S&P 400 MidCap and Russell 2000 indices, respectively. Growth (-38%) and Value (-37%) stocks also declined, as measured by the Russell 1000 Growth and Russell 1000 Value indices. Weakness was widespread during the period as all sectors in the S&P 500 posted large double-digit negative returns. Financials (-56%), Materials (-46%) and Information Technology (-43%) posted the largest losses. Consumer Staples (-15%) was the best relative performer given the defensive nature of the companies within the sector.

The Fund’s relative (i.e. performance of the Fund as measured against the benchmark) underperformance was primarily due to weak security selection in Health Care and Consumer Discretionary, offsetting favorable stock selection in Financials and Information Technology. Sector allocation, which is a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process, contributed positively to benchmark-relative performance primarily due to our overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocation to the Health Care sector and underweight (i.e. the Fund’s sector position was less than the benchmark position) allocations to Financials and Materials.


		6

The largest detractors on a relative basis were Assurant (Financials), Health Care Services stocks UnitedHealth and WellPoint, and Energy stock Exxon Mobil. Shares of insurance holding company Assurant, whose main business lines include homeowners insurance and credit protection, declined in response to the widespread credit contraction. Shares of insurers UnitedHealth Group and WellPoint fell on sector-wide concerns of increasing medical claims rates and physician cost estimates. The Fund’s underweight position in integrated oil and natural gas company Exxon Mobil hurt relative performance as the firm’s track record of high returns on capital, strong cash flow generation, and solid balance sheet positioning provided a relatively safe haven within the Energy sector. Other top detractors from absolute (i.e. total return) returns included energy-related stocks Marathon Oil and Hess.

Top contributors to relative performance during the period were Amgen (Health Care), Occidental Petroleum (Energy) and Bristol-Myers Squibb (Health Care). Leading biotechnology company Amgen reported positive, long awaited phase three data for its osteoporosis drug in development, Denosumab. The drug may be more effective than currently available products and thus far has an acceptable safety profile. Shares of the fourth-largest U.S. oil company by value, Occidental Petroleum, rose due to better-than-expected earnings driven by strong crude oil prices during the first half of 2008 before sliding sharply in the second half of the year. Shares of drug-maker Bristol-Myers Squibb rose following news that the company and Exelixis, a biotechnology company, signed an agreement to collaborate on the research and development of two novel molecules to treat cancer. Both molecules are within various stages of clinical trials. Relative performance also benefited from not owning Financials stocks AIG and Citigroup and Industrials stock General Electric. All three companies’ shares fell sharply during the period. Other top absolute contributors included Visa (Information Technology) and U.S. Steel (Materials).

What is the outlook?

In this environment, the Fund continues to focus on stock selection as the key driver of returns, using proprietary fundamental and quantitative research in a disciplined framework to build a portfolio of the most attractive stocks. Sector exposures are residuals from this bottom-up stock selection process and are not explicit management decisions. Based on individual stock decisions, the Fund ended the period most overweight the Health Care and Information Technology sectors and most underweight the Energy, Consumer Discretionary and Industrials sectors.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		4.1	%

Capital Goods		5.2

Commercial & Professional Services		0.8

Diversified Financials		2.9

Energy		9.3

Food & Staples Retailing		4.0

Food, Beverage & Tobacco		6.1

Health Care Equipment & Services		5.3

Household & Personal Products		0.5

Insurance		4.6

Materials		1.8

Media		2.5

Pharmaceuticals, Biotechnology & Life Sciences		18.2

Real Estate		0.9

Retailing		3.0

Semiconductors & Semiconductor Equipment		1.2

Software & Services		10.0

Technology Hardware & Equipment		7.1

Telecommunication Services		3.0

Transportation		2.1

Utilities		4.9

Short-Term Investments		1.7

Other Assets and Liabilities		0.8

Total		100.0	%

Hartford Dividend and Growth HLS Fund inception 3/9/1994

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 1000 Value Index is a market cap weighted measure of the performance of the 1,000 largest value-oriented companies in the Russell 3000 Index, which represents approximately 92% of the total market capitalization of the Russell 3000 Index. Value is defined as companies with lower price-to-book ratios and lower forecasted growth values.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal — Seeks a high level of current income consistent with growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Dividend and Growth IA		-32.43	%		0.96	%		2.49	%

Dividend and Growth IB		-32.60	%		0.70	%		2.26	%

Russell 1000 Value Index		-36.85	%		-0.79	%		1.36	%

S&P 500 Index		-36.99	%		-2.19	%		-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Edward P. Bousa, CFA
Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Dividend and Growth HLS Fund returned -32.43% for the twelve-month period ended December 31, 2008, outperforming its benchmark, the S&P 500 Index, which returned -36.99% for the same period. The Fund also outperformed the -35.83% return of the average fund in the Lipper Equity Income VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one year period ended December 31, 2008 was one of the most volatile in recent history. After a positive start to the year, global equity markets stumbled as credit- related issues contributed to the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a potential U.S. recession, equity investors sought to shed risk.

Overall equity market performance was weak for the period across all market capitalizations: large cap equities (-37%), mid caps (-36%), and small caps (-34%) declined as represented by the S&P 500, S&P 400 MidCap, and Russell 2000 indices respectively. During the twelve month period all sectors within the S&P 500 Index posted sharp negative returns led lower by Financials (-56%), Materials (-46%) and Information Technology (-43%). Traditionally defensive sectors Consumer Staples (-15%) and Health Care (-23%) declined the least.

The Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the S&P 500 Index


		8

was due to both stock selection and sector allocation. Stock selection was strongest in the Information Technology, Energy and Financials sectors. An underweight (i.e. the Fund’s sector position was less than the benchmark position) allocation to Information Technology and Financials and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocation to Energy contributed positively to benchmark-relative performance. The Fund also benefited from a modest cash position in a declining equity market.

The Fund’s top contributors to relative performance during the period were Chevron (Energy), AstraZeneca (Health Care), and Nestle (Consumer Staples). Chevron benefited from the rally in crude oil and natural gas prices during the first part of the period, pushing the company’s shares higher. Shares of pharmaceutical company AstraZeneca gained as the market’s near-term worries over patent risk for Seroquel and Nexium eased, and cholesterol drug Crestor beat cautious expectations. Shares of Nestle performed well as the world’s largest food maker reported strong earnings driven by volume growth from emerging markets and better-than-expected margins. Retail giant Wal-Mart (Consumer Staples), specialty materials company Rohm & Haas (Materials), and insurer MetLife (Financials) were top contributors to the Fund’s absolute (i.e. total return) performance.

Top detractors from relative performance were Johnson & Johnson (Health Care), UBS (Financials), and Deere & Company (Industrials). Johnson & Johnson, a medical device, consumer product, and pharmaceutical company, performed relatively well during the period due to its diversified business model. The Fund did not hold shares in the company, which hurt relative performance. Diversified financials firm UBS was hurt by the credit and liquidity crises that continue to impact financial companies. Additionally, lawsuits in the U.S. regarding illegal sheltering of client assets from U.S. taxes have resulted in unwanted publicity for their U.S. wealth management business. Shares of Deere, an agricultural equipment company, moved lower on soft commodity prices, concerns about the fiscal health of farmers around the globe, and on fears that its captive finance company would have problems funding itself. Bank of America (Financials) and General Electric (Industrials) were top detractors from the Fund’s absolute performance.

What is the outlook?

Liquidity constraints continued to dominate the economic landscape at the end of the year as the Federal Government was forced to undertake its largest role in the economy since the Great Depression. Despite an equity market bounce to finish the year, the economic outlook remains grim. Our investment discipline is focused on investing in areas of strong demand and avoiding areas of oversupply. In Financials, balance sheet exposures appear to be playing out. Credit supply is tight, but demand is low. We remain positive on natural gas and oil, despite their recent poor performance and have therefore maintained an overweight to the Energy sector.

At the end of the period, our largest overweights were to the Energy, Telecommunication Services, and Utilities sectors, while we were most underweight the Information Technology, Consumer Staples, and Consumer Discretionary sectors relative to the S&P 500 Index.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.7	%

Banks		3.7

Capital Goods		9.0

Commercial & Professional Services		1.6

Diversified Financials		6.2

Energy		18.2

Food & Staples Retailing		2.3

Food, Beverage & Tobacco		4.2

Health Care Equipment & Services		2.4

Household & Personal Products		1.8

Insurance		4.8

Materials		3.7

Media		3.6

Pharmaceuticals, Biotechnology & Life Sciences		12.0

Retailing		1.3

Semiconductors & Semiconductor Equipment		1.3

Software & Services		3.1

Technology Hardware & Equipment		4.6

Telecommunication Services		6.0

Transportation		1.8

Utilities		6.1

Short-Term Investments		1.2

Other Assets and Liabilities		0.4

Total		100.0	%


		9

Hartford Equity Income HLS Fund inception 10/31/2003

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 10/31/03 - 12/31/08
Growth of $10,000 investment

Investment goal – Seeks a high level of current income
consistent with growth of capital.

Average Annual Returns (as of 12/31/08)


	1 Year			5 Year			Since Inception

Equity Income IA		-28.76	%		1.09	%		2.50	%

Equity Income IB		-28.94	%		0.84	%		2.24	%

Russell 1000 Value Index		-36.85	%		-0.79	%		0.65	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Managers


John R. Ryan, CFA*	W. Michael Reckmeyer, III, CFA	Karen H. Grimes, CFA	Ian R. Link, CFA
Senior Vice President, Partner	Vice President	Vice President	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Equity Income HLS Fund returned -28.76% for the twelve-month period ended December 31, 2008, outperforming its benchmark, the Russell 1000 Value Index, which returned -36.85% for the same period. The Fund also outperformed the
-35.83% return of the average fund in the Lipper Equity Income VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Liquidity constraints dominated the economic landscape over the last year, leading the Federal Government to undertake its largest role in the markets since the Great Depression. Failures and forced mergers crippled financial services companies while insurers faced new questions about the health of their business. Investors looked to shed risk at every possible opportunity, providing a headwind for equities broadly.

All ten broad economic sectors of the Fund’s Russell 1000 Value benchmark declined sharply during the year. Financials (-52%), Information Technology (-49%), and Materials (-48%) performed the worst; the relative winners in this environment were less economically-sensitive areas like Consumer Staples (-17%), Health Care (-20%), and Utilities (-24%). Small cap, mid cap and large cap stocks all declined during the period, as measured by the Russell 2000 -34%, S&P 400 MidCap -36% and S&P 500 -37% indices, respectively. Value and growth stocks performed equally poorly: the Russell 1000 Value’s -37% return was marginally better than the Russell 1000 Growth’s -38% loss.

The primary driver of the Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark was favorable stock selection, as Fund results exceeded those of the benchmark in nine of ten economic sectors. Selection was most additive within Financials, Health Care, and Consumer Discretionary. In addition, allocation among sectors, which is driven by bottom-up (i.e. stock by stock fundamental research) fundamental research, helped performance, particularly the Fund’s overweight (i.e. the Fund’s



		10

sector position was greater than the benchmark position) positions in Consumer Staples and Utilities and underweight (i.e. the Fund’s sector position was less than the benchmark position) position in Financials.

Among the top contributors to benchmark-relative returns were our positions in Abbott Laboratories (Health Care), ACE (Financials), and Waste Management (Industrials). Shares of Abbott Labs rose on robust sales of the company’s blockbuster arthritis drug Humira, as well as stronger sales in the company’s stents and other heart-related devices. ACE’s stock benefited from investor preference for companies with stable balance sheets and solid free cash flow, as well as the perception that the company would gain market share from beleaguered AIG, one of the world’s largest insurance firms. Waste Management saw its shares gain on strong quarterly earnings results. Relative performance also benefited from stocks we avoided or were underweight. We did not hold American International Group (Financials), whose shares declined as liquidity constraints and credit rating downgrades forced the Federal Reserve to undertake the largest bailout of a private company in the country’s history. We had an underweight exposure to Citigroup (Financials), which saw its shares fall as investors questioned the firm’s balance sheet exposures and ability to weather the credit crisis. Top contributors to absolute (i.e. total return) returns during the year included Merck (Health Care), Occidental Petroleum (Energy), and General Mills (Consumer Staples).

Top detractors from benchmark-relative returns were Johnson & Johnson (Health Care), Procter & Gamble (Consumer Staples) and Amgen (Health Care). All three performed relatively well during the period; however, we chose not to own them in favor of companies which we believed had better fundamentals. Other top detractors from relative returns included Wells Fargo (Financials), Lloyds (Financials), and UBS (Financials). We were underweight Wells Fargo earlier in the year when its share price performance was relatively strong, hurting relative results. We have since increased our exposure to the company. Shares of Lloyds were weak due to concerns that the slowing UK economy would result in higher credit losses, while UBS’ stock declined due to the company’s mortgage-related securities exposure, which was much higher than expected. The top three detractors from absolute performance were Bank of America (Financials), General Electric (Industrials), and Conoco Phillips (Energy).

What is the outlook?

In the latter part of the year, credit market and banking concerns led to further economic distress in the industrial and commercial sectors. This distress was reflected in the market’s slide during the fourth quarter as investors grew more uncertain about the depth and duration of the downturn. Central banks and governments are throwing every relief tool into the mix. These actions are likely to have a beneficial effect over the short term, but their long-term impact is still unknown.

We believe that equity markets incorporated a deep recession into valuations during the fourth quarter. Prices and valuations consequently began to approach attractive levels, even given a continuing decline in the economy. Accordingly, we reduced holdings in some of the more defensive names, such as Utilities, Health Care, and Consumer Staples stocks, while we increased positions in Industrials, Consumer Discretionary, and Information Technology.

*As disclosed in the Fund’s prospectus, as of July 1, 2008, John R. Ryan is no longer involved in the management of the Fund. Mr. Reckmeyer, Ms. Grimes, and Mr. Link have succeeded Mr. Ryan in the management of the Fund. All three portfolio managers have been longstanding members of the Equity Income team and have worked closely with Mr. Ryan.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		7.6	%

Capital Goods		8.4

Commercial & Professional Services		3.6

Consumer Durables & Apparel		0.5

Diversified Financials		6.2

Energy		16.1

Food & Staples Retailing		0.7

Food, Beverage & Tobacco		9.1

Household & Personal Products		2.0

Insurance		5.9

Materials		3.5

Pharmaceuticals, Biotechnology & Life Sciences		8.6

Real Estate		0.3

Retailing		5.4

Semiconductors & Semiconductor Equipment		1.4

Software & Services		2.6

Telecommunication Services		5.7

Transportation		1.0

Utilities		9.0

Short-Term Investments		2.2

Other Assets and Liabilities		0.2

Total		100.0	%



		11

Hartford Fundamental Growth HLS Fund inception 4/30/2001

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 - 12/31/08
Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal — Seeks long-term capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			Since Inception

Fundamental Growth IA		-41.25	%		-3.40	%		-2.15	%

Fundamental Growth IB		-41.39	%		-3.64	%		-2.38	%

Russell 1000 Growth Index		-38.44	%		-3.42	%		-4.50	%

S&P500 Index		-36.99	%		-2.19	%		-2.36	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Francis J. Boggan, CFA
Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Fundamental Growth HLS Fund returned -41.25% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the Russell 1000 Growth Index, which returned -38.44% and the S&P 500 Index, which returned -36.99% for the same period. The Fund performed in line with the -41.68% return of the average fund in the Lipper Large Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in history. After a positive start to the year, global equity markets stumbled as the widespread contraction in credit led to major changes in the financial landscape. These included the near collapse of large investment bank Bear Stearns, government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a global recession, equity investors sought to shed risk, punishing equity securities broadly.

Small cap (-34%), mid cap (-36%), and large cap stocks (-37%) declined in unison during the period, as measured by the Russell 2000, S&P 400 MidCap, and S&P 500 indices, respectively. Value (-37%) and Growth (-38%) stocks performed similarly during the period, as measured by the Russell 1000 Value and Russell 1000 Growth indices. There were no safe havens, as all ten sectors within the Russell 1000 Growth Index posted negative returns. Financials (-53%), Energy (-50%), and Materials (-46%) declined the most, while traditionally defensive sectors Consumer Staples (-16%) and Health Care (-25%) declined the least.

The Fund underperformed relative to its benchmark during the period primarily due to weak stock selection. Weak stock


		12

selection in Materials, Industrials, and Financials was only partially offset by strong stock selection in the Consumer Discretionary, Utilities, and Energy sectors. An underweight (i.e. the Fund’s sector position was less than the benchmark position) in Consumer Staples also detracted from benchmark-relative returns.

Top detractors from relative (i.e. performance of the Fund as measured against the benchmark) performance included Freeport-McMoRan (Materials), Hercules Offshore (Energy), and NII Holdings (Telecommunication). Shares of Louisiana-based copper and gold mining company Freeport-McMoRan fell due to slowing growth in emerging markets and falling metal prices. Hercules, a provider of shallow-water drilling and marine services to the oil and natural gas exploration and production industry, saw its shares fall after the company reported second quarter earnings that were weaker than expected. Earnings were hurt by a steep escalation in costs and expenses. Shares of wireless communication services provider NII Holdings fell amid concerns about the negative effects of a global economic slowdown. Corning (Information Technology) and Microsoft (Information Technology) also detracted from the Fund’s absolute (i.e. total return) performance.

The three largest contributors to relative performance were Amgen (Health Care), AstraZeneca (Health Care), and Accenture (Information Technology). Shares of leading biotechnology company Amgen outperformed after the company announced better than expected quarterly results and raised its guidance for fiscal year 2008 revenue and earnings. The company also reported positive, long awaited Phase 3 data for its osteoporosis drug in development, Denosumab. Pharmaceutical company AstraZeneca’s shares rose as investors’ near-term concerns over patent risk for Seroquel and Nexium eased and Crestor beat cautious expectations. Accenture’s shares outperformed over the period as the resiliency of its business model during this economic downturn allowed it to post solid results and future guidance. Holdings in leading biotechnology company Genentech (Health Care) and McDonald’s (Consumer Discretionary) were also among top contributors to absolute performance.

What is the outlook?

Global equities tumbled over the past year, and particularly in recent months, on a deteriorating outlook for earnings and sharply increased fear levels among investors. The U.S. Treasury and Federal Reserve, in concert with several foreign governments, have embarked on an unprecedented series of rescue moves, but the results remain to be seen. In the wake of these capital market events, business and consumer confidence and spending have moved lower.

In this environment we continue to focus our efforts on stock-by-stock fundamental research to construct a diversified portfolio of high-quality growth companies with attractive valuations. As a result of this bottom-up (i.e. stock by stock fundamental research) process, the Fund ended the period most overweight (i.e. the Fund’s sector position was greater than the benchmark position) the Health Care sector, where we are finding attractive growth opportunities. We were also overweight the Information Technology, Telecommunication Services, and Energy sectors. At the end of the period, the Fund was most underweight the Consumer Staples, Industrials, and Utilities sectors relative to the Russell 1000 Growth Index.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Capital Goods		8.2	%

Consumer Durables & Apparel		2.6

Consumer Services		1.5

Diversified Financials		1.3

Energy		10.3

Food & Staples Retailing		4.0

Food, Beverage & Tobacco		4.3

Health Care Equipment & Services		8.7

Household & Personal Products		1.6

Insurance		3.4

Materials		1.7

Media		1.1

Pharmaceuticals, Biotechnology & Life Sciences		10.6

Retailing		4.5

Semiconductors & Semiconductor Equipment		1.5

Software & Services		13.3

Technology Hardware & Equipment		16.4

Telecommunication Services		3.4

Transportation		0.8

Short-Term Investments		1.8

Other Assets and Liabilities		(1.0	)

Total		100.0	%


		13

Hartford Global Advisers HLS Fund inception 3/1/1995

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Barclays Capital Global Aggregate Index USD Hedged provides a broad-based measure of the global investment-grade fixed income markets (the three major components of this index are the U.S. Aggregate, the Pan-European Aggregate, and the Asian-Pacific Aggregate Indices; it also includes Eurodollar and Euro-Yen corporate bonds, Canadian Government securities, and USD investment grade 144A securities).

MSCI World Growth Index is a broad-based unmanaged market capitalization-weighted total return index which measures the performance of growth securities in 23 developed-country global equity markets including the U.S., Canada, Europe, Australia, New Zealand and the Far East.

Investment goal — Seeks maximum long-term total rate of return.

Average Annual Returns(2,3) (as of 12/31/08)


	1 Year			5 Year			10 Year

Global Advisers IA		-32.50	%		-0.04	%		1.82	%

Global Advisers IB		-32.67	%		-0.29	%		1.59	%

Barclays Capital Global Aggregate Index USD Hedged		5.56	%		4.98	%		5.46	%

MSCI World Growth Index		-40.90	%		-0.84	%		-2.29	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on November 9, 1999. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

(3)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Managers


Matthew D. Hudson, CFA	Robert L. Evans	Scott M. Elliot	Evan S. Grace, CFA
Vice President and Equity Portfolio Manager	SeniorVice President, Partner, and Fixed Income Portfolio Manager	Senior Vice President, Partner, and Director of Asset Allocation Strategies	Vice President and Director of Asset Allocation Research
Andrew S. Offit, CPA	Jean-Marc Berteaux
Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Global Advisers HLS Fund returned -32.50% for the twelve-month period ended December 31, 2008, versus the returns of -40.90 for the MSCI World Growth Index and 5.56% for the Barclays Capital Global Aggregate Index USD Hedged. The Fund underperformed the -26.52% return of the average fund in the Lipper Global Flexible Portfolio VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Global equity and fixed income markets were down for the twelve months ended December 31, 2008, which was an extraordinary year in financial markets as nearly every asset class recorded significant price declines. Global equity markets suffered historic declines as the worldwide credit crisis persisted and deteriorating economic data pointed toward a global recession that may be deeper and more protracted than previously expected. Many investors responded to the financial crisis by shedding risk


		14

broadly, increasing exposure to cash, and selling equities with little regard for the quality or valuation of their holdings. The MSCI World Growth Index returned -40.9% over the twelve months. Declines were broad-based as all ten sectors in the MSCI World Growth Index posted negative results for the twelve-month period. Financials, Energy, and Materials fell the most during the period.

Global fixed income markets were similarly fragile throughout much of 2008 as the ongoing credit crunch, a deteriorating U.S. housing market, and the onset of a global recession led lower-quality assets to underperform higher quality assets like U.S. Treasurys. As risk aversion remained elevated, investors sought to shed risk, pushing yield curves steeper and global rates lower, with Treasury yields establishing historically low levels, culminating in the periodically negative yields associated with U.S. Treasury bills. For much of the period, preservation of capital became the paramount concern and risk assets suffered, with all sectors underperforming Treasuries on a duration-equivalent basis. Buoyed by the strong performance of government debt, the Barclays Capital Global Aggregate Index USD Hedged returned 5.56% for the period.

The Fund trailed its benchmark primarily due to weak relative (i.e. performance of the Fund as measured against the benchmark) returns in the equity portion of the Fund. The fixed income portion also underperformed its benchmark for the period. Allocation among equities, bonds, and cash had only a minimal impact on relative performance during the period.

The underperformance of the Fund’s equities relative to the MSCI World Growth Index during the period was primarily a result of security selection. Positive stock selection in Materials was more than offset by weaker stock selection in the Financials, Information Technology, and Consumer Discretionary sectors. Sector allocation, which is a fall-out of bottom-up (i.e. stock by stock fundamental research) security selection, also detracted from relative performance as the Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) to Consumer Staples and overweights (i.e. the Fund’s sector position was greater than the benchmark position) to Energy and Financials hurt benchmark-relative returns.

The top detractors from the equity portion of the Fund’s relative performance were Lehman Brothers (Financials), Electronic Arts (Information Technology), and Las Vegas Sands (Consumer Discretionary). Lehman Brothers, a U.S.-based investment bank, filed for bankruptcy in September as its exposure to mortgage-related securities caused asset write-downs and a liquidity crunch. Although we sold our holdings prior to the company’s bankruptcy due to concerns over the firm’s liquidity and solvency, the position was still a negative contributor. Video game company Electronic Arts reported an annual profit outlook that fell short of expectations as a drive to improve the quality of its products increased its costs, pushing the company’s shares lower. Shares of Las Vegas Sands, a developer and operator of hotel, gaming, and resort businesses, fell due to disappointing earnings. Beverage company Carlsberg (Consumer Discretionary) also detracted from absolute (i.e. total return) performance.

MetroPCS Communications (Telecommunications), Teva Pharmaceuticals (Health Care), and Gilead Sciences (Health Care) were the leading contributors to benchmark-relative performance. Shares of wireless service provider MetroPCS Communications benefited from potential opportunities for growth as consumers shifted to low-cost wireless plans. Shares of the Israel-based drug manufacturer Teva rose after the company reported better-than-expected second quarter earnings driven by strong sales of its multiple-sclerosis drug Copaxone. Biotechnology company Gilead benefited from its market-leadership position in HIV and AIDS treatments. Top absolute contributors included German insurance company Munich Re (Financials), media company Comcast (Consumer Discretionary), and telecommunications and media provider Softbank (Telecommunication Services).

The fixed income portion of the Fund underperformed its benchmark for the period. The portfolio generated positive results among its currency, yield curve and country strategies, but the results were not sufficient to offset the more significant losses generated in duration (i.e. a measure of interest rate sensitivity) and particularly, credit strategies. Overweight allocations among credit sectors, including MBS and CMBS, particularly hard-hit during the period, served as a drag on performance. Duration positions, including overweight allocations to Japanese inflation-linked debt, and positioning among corporate debt also detracted from results during the period. Currency positions were more favorable during the period as an underweight to the euro and the British pound aided results. Country and yield curve strategies were also favorable, with the latter providing a more modest lift, as positions benefited from expectations for steeper yield curves in the U.S. and Germany.

What is the outlook?

The seizing up of credit markets has resulted in the worst global slowdown since the early 1980s. Governments around the world have responded to the crisis with a myriad of rescue measures, and central banks around the world have also used monetary policy to loosen credit conditions, cutting rates aggressively in the second half of 2008. There are tentative signs that these measures are beginning to work, but it remains uncertain whether this government action will be sufficient to reignite global and domestic demand.

At the end of the period, our stock-by-stock investment process resulted in greater-than-benchmark weights in Telecommunication Services, Health Care, Financials, Energy, and Information Technology in the equity portion of the Fund. The Fund held less-than-benchmark weights in Materials, Industrials, Utilities, Consumer Discretionary, and Consumer Staples names.


		15

In the fixed income portion of the Fund, positioning at the end of the period reflected the fact that a deep, global recession is underway and additional policy stimulus is likely as central banks and governments focus their attention on weakening growth and protecting the financial system. In the U.S., recessionary readings on growth are likely to continue as the consumer remains plagued by debt deflation. Deleveraging will provide a significant headwind and lower commodity prices will ease inflationary pressures. We will look to position U.S. duration (i.e. a measure of interest rate sensitivity) tactically with a bias toward an underweight position versus Europe. The U.S. dollar is likely to remain range-bound in the months ahead while we expect the euro to weaken versus a broad range of currencies in the months ahead. As global deleveraging continues, the currencies of economies with large external financing needs are likely to remain under pressure. As the period drew to a close, we continued to maintain a modest overweight position in corporates in order to benefit from recent spread widening (i.e., increased credit spread or yield differential between Treasury securities and non-Treasury securities). As markets are fully engaged with the idea of a deep, global recession, we have focused positions on consumer noncyclicals and banking companies that are critically important to global and local economies and have good sources of funds and strong balance sheets.

From an asset allocation standpoint, the Fund ended the period with slight underweights to equities and fixed income and a slight overweight to cash.

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets

Australia		1.9	%

Austria		0.7

Belgium		0.4

Brazil		0.6

Canada		2.6

China		0.5

Denmark		1.4

Finland		0.1

France		5.6

Germany		5.7

Greece		0.5

Ireland		0.1

Israel		1.1

Italy		1.2

Japan		6.8

Luxembourg		1.2

Mexico		0.1

Netherlands		1.0

Norway		0.6

Poland		0.1

Portugal		0.2

Russia		0.3

Singapore		1.5

South Africa		0.1

Spain		2.0

Sweden		0.2

Switzerland		3.4

United Kingdom		5.6

United States		52.6

Short-Term Investments		0.6

Other Assets and Liabilities		1.3

Total		100.0	%

Distribution by Security Type
as of December 31, 2008


	Percentage of
Security Type	Net Assets

Asset & Commercial Mortgage Backed Securities		3.3	%

Common Stocks		51.0

Corporate Bonds: Investment Grades		30.9

Corporate Bonds: Non-Investment Grades		0.1

U.S. Government Agencies		8.8

U.S. Government Securities		4.0

Short-Term Investments		0.6

Other Assets and Liabilities		1.3

Total		100.0	%

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		2.6	%

Basic Materials		0.6

Capital Goods		5.4

Consumer Cyclical		0.6

Consumer Services		0.9

Consumer Staples		1.1

Diversified Financials		2.3

Energy		5.6

Finance		11.1

Food, Beverage & Tobacco		3.3

Foreign Governments		15.3

Health Care		0.9

Health Care Equipment & Services		1.6

Household & Personal Products		1.4

Insurance		1.2

Materials		3.4

Media		0.9

Pharmaceuticals, Biotechnology & Life Sciences		8.7

Retailing		0.4

Semiconductors & Semiconductor Equipment		0.4

Services		0.3

Software & Services		5.2

Technology		2.4

Technology Hardware & Equipment		3.3

Telecommunication Services		5.1

Transportation		0.9

U.S. Government Agencies		8.8

U.S. Government Securities		4.0

Utilities		0.4

Short-Term Investments		0.6

Other Assets and Liabilities		1.3

Total		100.0	%


		16

Hartford Global Equity HLS Fund inception 1/31/2008
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 1/31/08 - 12/31/08
Growth of $10,000 investment

MSCI All Country World Index is a free float-adjusted market capitalization index that is designed to measure global developed-market equity performance. The index consists of 23 developed-market country indices, including the United States.

Investment goal – Seeks long-term capital appreciation.

Cumulative Returns (as of 12/31/08)


	Since Inception

Global Equity IA		-37.87	%

Global Equity IB		-38.01	%

MSCI All Country World Index		-36.67	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Managers


Mark D. Mandel, CFA		Cheryl M. Duckworth, CFA
Senior Vice President		Senior Vice President

How did the Fund perform?

The Class IA shares of the Hartford Global Equity HLS Fund returned -37.87% for the eleven-month period ended December 31, 2008, underperforming its benchmark, the MSCI All Country World Index, which returned -36.67% for the same period. The Fund also underperformed the -34.76% return of the average fund in the Lipper Global Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The period was one of the most volatile in recent history. After a positive start to the year, the global equity markets stumbled on credit-crunch related issues such as the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a global recession, equity investors sought to shed risk. In this environment, all sectors within the MSCI All Country World Index posted double digit declines for the eleven-month period ending December 31^st. Financials (-50%), Materials (-48%), and Industrials (-39%) declined the most while traditionally defensive sectors Health Care (-17%) and Consumer Staples (-18%) declined the least.

The Fund benefited from positive sector allocation, particularly an overweight (i.e. the Fund’s sector position was greater than the benchmark position) to Health Care and an underweight (i.e. the Fund’s sector position was less than the benchmark position) to Financials, as well as stock selection in Financials. However, these gains were more than offset by weak security selection, particularly in the Energy, Telecommunications Services, and Consumer Discretionary sectors.

The largest detractors from relative (i.e. performance of the Fund as measured against the benchmark) returns were Smurfit-Stone (Materials), Exxon Mobil (Energy), and Vale (Materials). Paper-based packaging products manufacturer Smurfit-Stone faced headwinds as higher energy prices drove up the costs of transportation and chemicals in the first half of the year. Then liquidity concerns and product demand pushed its shares even lower. Integrated oil and natural gas company Exxon Mobil benefited from its status as a safe haven within the energy sector during the period. However, the Fund’s underweight position in



		17

Exxon Mobil hurt relative performance during the period. Brazil-based mining company Vale’s shares fell on concerns that slowing economic growth would lead to soft demand and weaker prices for key commodities, including iron ore and nickel. Russian natural gas supplier Gazprom (Energy) and DBS Group Holdings (Financials) were among the top detractors from absolute (i.e. total return) performance.

Top contributors to relative performance during the period included Eisai (Health Care), ACE (Financials), and Barr Pharmaceuticals (Health Care). Not holding troubled global insurance and financial services company AIG (Financials) also aided relative performance during the period. Shares of Japanese pharmaceutical company Eisai rose after the company posted solid earnings driven by strong global sales of the Alzheimer’s disease treatment, Aricept, and good domestic sales of ulcer treatment, Aciphex. ACE, a global property and casualty insurance company, benefited from robust earnings results, generated in part from the company’s strong balance sheet and troubles at rival AIG. Shares of specialty pharmaceutical company Barr Pharmaceuticals rose after the company received a stock and cash takeover offer from generic drug firm Teva Pharmaceutical. National City (Financials), FMC Corp (Materials), and Travelers (Financials) were top contributors to absolute performance.

What is the outlook?

As the market continues to price in a weak economic environment, equities may remain challenged and volatile. Governments and central banks have taken aggressive actions including cutting interest rates and injecting capital into institutions in order to provide stability and stimulate economic growth. Further intervention may be necessary to unclog the capital markets. We believe the recent wave of selling has created disconnects between company fundamentals and stock prices for many securities. Wide valuation spreads are creating tremendous buying opportunities for active managers. In this environment, the Fund ended the period most overweight the Health Care and Information Technology sectors and most underweight the Telecommunication Services, Consumer Discretionary, and Energy sectors. The Fund’s largest absolute positions were in the Consumer Staples and Information Technology sectors.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		1.3	%

Banks		7.7

Capital Goods		6.3

Consumer Durables & Apparel		0.2

Consumer Services		0.4

Diversified Financials		4.4

Energy		10.8

Food & Staples Retailing		1.7

Food, Beverage & Tobacco		8.1

Health Care Equipment & Services		4.0

Household & Personal Products		0.8

Insurance		3.7

Materials		6.7

Media		2.1

Other Investment Pools and Funds		0.2

Pharmaceuticals, Biotechnology & Life Sciences		11.5

Real Estate		1.8

Retailing		3.2

Semiconductors & Semiconductor Equipment		2.0

Software & Services		5.7

Technology Hardware & Equipment		2.9

Telecommunication Services		4.3

Transportation		3.6

Utilities		4.8

Short-Term Investments		1.9

Other Assets and Liabilities		(0.1	)

Total		100.0	%

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets

Australia		0.4	%

Austria		0.4

Belgium		0.8

Brazil		2.7

Canada		3.8

China		0.4

Denmark		0.4

Finland		0.1

France		5.2

Germany		3.6

Hong Kong		0.7

India		0.9

Indonesia		0.1

Ireland		0.4

Israel		0.9

Italy		0.3

Japan		7.5

Luxembourg		0.7

Malaysia		0.1

Netherlands		1.7

Norway		0.6

Russia		1.3

Singapore		0.6

South Africa		0.5

South Korea		0.1

Spain		0.9

Sweden		1.3

Switzerland		3.9

Taiwan		0.4

Thailand		0.3

Turkey		0.7

United Kingdom		5.9

United States		50.6

Short-Term Investments		1.9

Other Assets and Liabilities		(0.1	)

Total		100.0	%



		18

Hartford Global Growth HLS Fund inception 9/30/1998
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 — 12/31/08
Growth of $10,000 investment

Investment goal — Seeks growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Global Growth IA		-52.46	%		-3.66	%		0.54	%

Global Growth IB		-52.58	%		-3.90	%		0.32	%

MSCI World Growth Index		-40.90	%		-0.84	%		-2.29	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Managers


Matthew D. Hudson, CFA	Andrew S. Offit, CPA	Jean-Marc Berteaux
Vice President	Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Global Growth HLS Fund returned -52.46% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the MSCI World Growth Index, which returned -40.90% for the same period. The Fund also underperformed the -43.56% return of the average fund in the Lipper Global Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Global equity markets fell during the period amid ongoing turmoil in global credit markets and accelerating deterioration in the housing, employment, and credit markets in the U.S., driving slower global economic growth. In this environment, the MSCI World Growth Index
(-40.9%) modestly outperformed the MSCI World Value Index (-39.8%). Returns within the MSCI World Growth Index were significantly negative across all sectors. Financials (-53.3%), Energy (-53.0%), and Materials (-51.3%) fell the most, while traditionally defensive sectors like Health Care (-23.8%) and Consumer Staples (-23.5%) declined the least.

The Fund’s underperformance versus the MSCI World Growth Index was primarily driven by security selection. Selection was weakest in the Financials, Information Technology, and Consumer Discretionary sectors. This was partially offset by positive stock selection in Materials and Energy. Sector allocation, which is a residual of bottom-up (i.e. stock by stock fundamental research) security selection, also detracted from relative (i.e. performance of the Fund as measured against the benchmark) performance. The Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) to Consumer Staples and overweights (i.e. the Fund’s sector position was greater than the benchmark position) to Energy and Financials hurt benchmark-relative returns.

The top detractors from the Fund’s relative performance were Lehman Brothers (Financials), Electronic Arts (Information Technology), and Las Vegas Sands (Consumer Discretionary). Lehman Brothers, a U.S.-based investment bank, filed for bankruptcy in September as its exposure to mortgage-related securities caused asset write-downs and a liquidity crunch. Although we sold our holdings prior to the company’s



		19

bankruptcy due to concerns over the firm’s liquidity and solvency, the position was still a negative contributor. Video game company Electronic Arts reported an annual profit outlook that fell short of expectations as a drive to improve the quality of its products increased its costs, pushing the company’s shares lower. Shares of Las Vegas Sands, a developer and operator of hotel, gaming, and resort businesses, fell due to disappointing earnings. Other significant detractors from relative and absolute (i.e. total return) returns included beverage company Carlsberg (Consumer Staples) and solar products producer SunPower (Industrials).

MetroPCS Communications (Telecommunication Services), Teva Pharmaceuticals (Health Care), and Gilead Sciences (Health Care) were the leading contributors to benchmark-relative performance. Shares of wireless service provider MetroPCS Communications benefited from potential opportunities for growth as consumers shift to low-cost wireless plans. Shares of the Israel-based drug manufacturer Teva rose after the company reported better-than-expected second quarter earnings driven by strong sales of its multiple-sclerosis drug Copaxone. Biotechnology company Gilead benefited from its market-leadership position in HIV and AIDS treatments. Top absolute contributors included telecommunications and media provider Softbank (Telecommunication Services), media company Comcast (Consumer Discretionary), and German insurance company Munich Re (Financials).

What is the outlook?

Portfolio construction is a bottom-up process based on intensive company research. Allocations among sectors are the result of individual stock decisions. At the end of the period, our stock-by-stock investment process resulted in greater-than-benchmark weights in Telecommunication Services, Health Care, Financials, Energy, Information Technology, and Industrials. The Fund held less-than-benchmark weights in Materials, Utilities, Consumer Discretionary, and Consumer Staples names. Exposure to Health Care increased during the year as we found companies we believe offer attractive valuations and that should perform relatively well in a difficult economic environment. Top positions at the end of December included pharmaceutical company Wyeth and Israeli generic drug company Teva Pharmaceuticals.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		4.8	%

Capital Goods		10.2

Consumer Services		1.6

Diversified Financials		4.6

Energy		8.7

Food, Beverage & Tobacco		6.2

Health Care Equipment & Services		2.8

Household & Personal Products		2.7

Insurance		2.1

Materials		6.5

Media		1.5

Pharmaceuticals, Biotechnology & Life Sciences		17.2

Retailing		0.7

Semiconductors & Semiconductor Equipment		0.7

Software & Services		10.0

Technology Hardware & Equipment		6.1

Telecommunication Services		9.9

Transportation		0.9

Short-Term Investments		2.2

Other Assets and Liabilities		0.6

Total		100.0	%

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets

Australia		2.1	%

Brazil		0.8

Canada		3.5

China		0.8

Denmark		2.3

France		5.0

Germany		3.7

Greece		0.6

Israel		2.2

Japan		4.7

Luxembourg		1.2

Norway		1.2

Russia		0.5

Spain		2.3

Switzerland		6.3

United Kingdom		6.2

United States		53.8

Short-Term Investments		2.2

Other Assets and Liabilities		0.6

Total		100.0	%



		20

Hartford Global Health HLS Fund inception 5/1/2000

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 5/01/00 — 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

S&P North American Health Care Sector Index is a modified capitalization-weighted index based on United States headquartered health care companies. Stocks in the index are weighted such that each stock is no more than 7.5% of the market capitalization as of the most recent reconstitution date. The companies included in the index must be common stocks and be traded on the American Stock Exchange, Nasdaq or the New York Stock Exchange and meet certain established market capitalization levels.

Investment goal — Seeks long-term capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			Since Inception

Global Health IA		-25.56	%		2.18	%		7.35	%

Global Health IB		-25.75	%		1.93	%		7.10	%

S&P 500 Index		-36.99	%		-2.19	%		-3.65	%*

S&P North American Health Care Sector Index		-23.58	%		0.77	%		1.65	%*


*		Return is from 4/30/00

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers. The value of the contract will fluctuate so that when redeemed, it may be worth more or less than the original investment. The chart and table do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Joseph H. Schwartz, CFA*	Jean M. Hynes, CFA	Ann C. Gallo	Kirk J. Mayer, CFA	Robert L. Deresiewicz
Senior Vice President, Partner,	Senior Vice President, Partner,	Senior Vice President, Partner,	Vice President,	Vice President,
Global Industry Analyst	Global Industry Analyst	Global Industry Analyst	Global Industry Analyst	Global Industry Analyst

How did the Fund perform?

The Class IA shares of the Hartford Global Health HLS Fund returned -25.56% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the S&P North American Health Care Sector Index, which returned -23.58% for the same period. The Fund also underperformed the -25.05% return of the average fund in the Lipper Health and Biotechnology VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

It has been a difficult environment for all investment styles over the last twelve months, and the Health Care sector has certainly not been spared. Health Care stocks, as measured by the S&P North American Health Care Index, returned -24% and proved to be somewhat defensive during the period, outperforming the broader U.S. market, which returned -37%, as measured by the S&P 500 Index, and the world market return of -40%, as measured by the MSCI World Index. Within the S&P North American Health Care Index, eight out of nine sub-sectors posted negative returns. Life Sciences Tools & Services (-45%), Health Care Providers & Services (-44%), and Health Care Equipment & Supplies (-31%) declined the most. Biotechnology stocks (+8%) performed well relative to the other sub-sectors.



		21

The Fund underperformed versus its benchmark primarily due to weak stock selection in the Biotechnology and Health Care Providers & Services sub-sectors. Partially offsetting this was favorable stock selection in Pharmaceuticals, and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) allocation to the Biotechnology sub-sector.

Elan, Coventry Health Care, and Human Genome Science were among the leading detractors from performance on a relative (i.e. performance of the Fund as measured against the benchmark) basis. Shares of neuroscience-based biotechnology firm Elan declined on disappointing developments concerning the firm’s experimental Alzheimer’s disease drug Bapineuzumab and multiple-sclerosis drug Tysabri. Shares of Coventry, a diversified managed healthcare company, fell after the company reported lower profits and reduced its 2008 guidance due to higher Medicare and Commercial medical loss ratios. Shares of biotechnology company Human Genome Science fell after it sharply lowered its fiscal 2008 revenue guidance due to delayed shipments of anthrax treatment ABthrax. The Fund’s relative performance was also hurt by not owning health products maker Johnson & Johnson whose stock performed well as its diversified revenue stream was highly valued in the current market environment. Medical device and technology company Medtronic and integrated managed care organization Health Net were top detractors from absolute (i.e. total return) performance.

Security selection was particularly strong in Pharmaceutical stocks. Shionogi, Millennium Pharmaceuticals, and Eisai were among the top contributors to relative performance during the period. Shionogi, a Japanese pharmaceutical company, saw its shares rise after reporting steady earnings growth driven by sales of cholesterol lowering drug Crestor and allergy drug Claritin. Shares of U.S.-based biotech company Millennium Pharmaceuticals rose on news of an acquisition of the company by Japan’s biggest drugmaker Takeda Pharmaceutical. Japanese pharmaceutical company Eisai’s shares rose after the company posted solid earnings driven by strong global sales of Alzheimer’s disease treatment Aricept and solid domestic sales of ulcer treatment Aciphex. Not owning pharmaceutical firm Merck, whose shares fell significantly after bad news about its cholesterol drug Vytorin, also helped relative performance. Among other top contributors to absolute performance was biopharmaceutical company Genentech.

What is the outlook?

Within the Pharmaceutical and Biotechnology sub-sectors we may be entering a period where strong performance is not as concentrated in one or two areas, but more broadly diverse. Given their extended period of underperformance, major pharmaceuticals may begin to turn, as new product pipelines provide upside potential long-term. Japanese companies remain attractive given their interesting pipelines, strong balance sheets, and the leverage of their pipelines relative to their modest market capitalizations. Challenges in 2009 will include patent expiration worries for 2011-2013, health care reform rhetoric with a new administration in office, cost containment across the U.S., Europe, and Japan, and a continued conservative FDA. In this environment we strive to take advantage of market opportunities to upgrade the Fund with those stocks that have the best ratio of revenue growth relative to market capitalization, adding good companies on price weakness and trimming into strength.

Unlike during previous recessions, the Health Care Providers & Services sub-sector experienced significant volatility during 2008. With consumers shouldering a greater share of health care costs, health care has become less defensive compared to prior cycles. Looking out to 2009 and beyond, it appears that the country and, more importantly, Washington, are more predisposed for health care reform than we have seen in some time. Nonetheless, due to considerable political and economic hurdles, we continue to believe that health care reform will be evolutionary — not revolutionary — and will likely rely on a mix of public and private funding.

We believe that as the new Administration and Congress get back to business in 2009, the focus of health care reform will shift from “access” to “affordable access.” Given the U.S. government’s significant debt burden, we believe that health care reform will entail increasingly difficult decisions. The new health care environment will be one in which financial incentives between payers, providers and consumers will have to be better aligned. Value-based reimbursement and pay-for-performance will become increasingly prevalent. In our opinion, the government will need to access the capabilities and skill sets of the private sector to effect this type of change. During the past year, we took advantage of the market’s unprecedented volatility to initiate or add to existing positions in stocks that are both attractively valued and poised to thrive under this new model.

Within the Health Care Equipment & Supplies sub-sector, most stocks have become attractively valued so we continue to look for companies with underappreciated franchises or promising R&D projects. There are fewer relatively large merger & acquisition targets of opportunity versus prior years, but we expect to see some additional consolidation. It remains our view that cardiovascular disease represents one of the strongest prospects for growth.

* Joseph H. Schwartz, CFA withdrew as a partner of Wellington Management Company effective June 30, 2008. Plans for Mr. Schwartz’s retirement had been made well in advance. Other members of the existing portfolio management team have taken over Mr. Schwartz’s responsibilities.



		22

Hartford Growth HLS Fund inception 4/30/2002
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/02 — 12/31/08
Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

Investment goal — Seeks long-term capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			2 Year			Since Inception

Growth IA		-41.79	%		-3.49	%		-0.57	%

Growth IB		-41.93	%		-3.73	%		-0.81	%

Russell 1000 Growth Index		-38.44	%		-3.42	%		-1.92	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Andrew J. Shilling, CFA		John A. Boselli, CFA
Senior Vice President, Partner		Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford Growth HLS Fund returned -41.79% for the twelve-month period ended December 31, 2008 underperforming its benchmark, the Russell 1000 Growth Index, which returned -38.44% for the same period. The Fund’s performance was in line with the -41.68% return of the average fund in the Large-Cap Growth Funds VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in history. After a positive start to the year, global equity markets stumbled as the widespread contraction in credit led to major changes in the financial landscape. These included the near collapse of the large investment bank Bear Stearns, government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. Equity investors sought to shed risk in response to increasing concerns about the financial system and the declared U.S. recession, punishing equity securities broadly.

Large (-37%), mid (-36%), and small (-34%) cap stocks declined by similar levels during the period, as measured by the S&P 500, S&P 400 MidCap and Russell 2000 indices, respectively. The same was true for Growth (-38%) and Value (-37%) stocks, as measured by the Russell 1000 Growth and Russell 1000 Value indices. All ten sectors within the Russell 1000 Growth Index posted sharp negative returns during the period, led by Financials (-53%), Energy (-50%) and Materials (-46%). Traditionally defensive sectors Consumer Staples (-16%) and Health Care (-25%) declined the least.

The Fund’s underperformance versus its benchmark was driven by both stock selection and sector positioning, which is a fallout of the bottom-up (i.e. stock by stock fundamental research) stock selection process. Strong security selection in Information Technology and Telecommunication Services was more than offset by weaker results in Health Care, Industrials and Consumer Discretionary. In addition, relative (i.e. performance of the Fund as measured against the benchmark) returns were hurt by our below-benchmark weight in Consumer Staples and above-benchmark weight in Information Technology. The Fund


		24

benefited from a modest cash position, which helped relative performance in a downward-trending market.

Focus Media (Consumer Discretionary), MF Global (Financials) and Wal-Mart Stores (Consumer Staples) were the top detractors from relative performance during the period. Shares of Chinese digital advertising and media company Focus Media trended lower due to concerns about management changes, accounting issues, and mobile spamming. Shares of Bermuda-based independent derivatives broker MF Global fell sharply after a rogue trader within the firm caused significant losses by unauthorized trading in wheat futures contracts. Not owning the world’s largest retailer Wal-Mart, which held up well in a softening retail environment, hurt benchmark-relative performance. Several Information Technology firms were among the top detractors from the Fund’s absolute (i.e. total return) returns, including software giant Microsoft, consumer electronics company Apple, and internet-search firm Google.

Top contributors to benchmark-relative returns were Abbott Laboratories (Health Care), Apollo Group (Consumer Discretionary), and Teva Pharmaceutical (Health Care). Shares of Abbott Laboratories, a drug and medical device company, continued to benefit from the strong growth of Humira, a drug for rheumatoid arthritis and psoriasis. Shares of Apollo Group, a private education provider, benefited from strong industry fundamentals as the softer economy aided enrollment growth and increases in federal loan limits enhanced pricing power. Israel-based generic drug manufacturer Teva Pharmaceutical saw its shares rise after the company reported better-than-expected second quarter earnings driven by strong sales of its multiple-sclerosis drug Copaxone. Top contributors to the Fund’s absolute returns included managed care provider UnitedHealth (Health Care) and steel producer U.S. Steel (Materials).

What is the outlook?

In this environment we continue to focus our efforts on stock-by-stock fundamental research, picking one stock at a time based upon the attractiveness of each company’s valuation and fundamentals. As a result of this bottom up stock selection, our largest exposures relative to the benchmark at the end of the period were in Information Technology, Financials, and Industrials. At the end of the period, we were most underweight (i.e. the Fund’s sector position was less than the benchmark position) the Consumer Staples, Materials, and Utilities sectors.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		1.5	%

Capital Goods		16.1

Consumer Durables & Apparel		1.0

Consumer Services		1.8

Diversified Financials		2.7

Energy		8.1

Food & Staples Retailing		1.0

Food, Beverage & Tobacco		3.2

Health Care Equipment & Services		7.4

Insurance		4.1

Materials		1.3

Media		1.8

Pharmaceuticals, Biotechnology & Life Sciences		7.6

Retailing		5.3

Semiconductors & Semiconductor Equipment		1.4

Software & Services		21.6

Technology Hardware & Equipment		10.9

Telecommunication Services		1.2

Transportation		0.3

Short-Term Investments		1.2

Other Assets and Liabilities		0.5

Total		100.0	%


		25

Hartford Growth Opportunities HLS Fund inception 3/24/1987
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

Russell 3000 Growth Index is an unmanaged index that measures the performance of those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values. (The Russell 3000 Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization.)

Investment goal — Seeks capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			Since Inception

Growth Opportunities IA		-45.66	%		1.47	%		3.37	%

Growth Opportunities IB		-45.80	%		1.22	%		3.12	%

Russell 1000 Growth Index		-38.44	%		-3.42	%		-4.27	%

Russell 3000 Growth Index		-38.44	%		-3.33	%		-4.01	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Michael T. Carmen, CFA, CPA		Mario E. Abularach, CFA
Senior Vice President, Partner		Vice President

How did the Fund perform?

The Class IA shares of the Hartford Growth Opportunities HLS Fund returned -45.66% for the one year period ended December 31, 2008, underperforming its benchmark, the Russell 3000 Growth Index, which returned -38.44% for the same period. The Fund also underperformed the -42.50% return of the average fund in the Lipper Multi-Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in recent history. After a positive start to the year, the global equity markets stumbled on credit crunch related issues such as the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and

Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a potential U.S. recession, equity investors sought to shed risk, punishing equity securities broadly.

Large (-37%), mid (-36%), and small (-34%) cap stocks declined in unison during the period, as measured by the S&P 500 , S&P 400 MidCap and Russell 2000 indices, respectively. Both Growth (-38%) and Value (-37%) stocks also declined, as measured by the Russell 1000 Growth and Russell 1000 Value indices. Within the Russell 3000 Growth Index, all sectors posted sharp negative returns led by Financials (-51%), Energy (-50%), and Materials (-47%). The sectors that declined the least


		26

in this environment were Consumer Staples (-16%) and Health Care (-26%).

The Fund underperformed its benchmark due to weak security selection, particularly in the Health Care, Consumer Staples, and Consumer Discretionary sectors. Sector weight positioning, the result of bottom-up (i.e. stock by stock fundamental research) stock selection decisions, had a negative impact on benchmark-relative (i.e. performance of the Fund as measured against the benchmark) performance primarily due to an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in Consumer Staples, which outperformed on a relative basis.

The top detractors from benchmark-relative returns were Focus Media (Consumer Discretionary), SunTech Power (Industrials) and SunPower (Industrials). We did not own Wal-Mart Stores (Consumer Staples) which also detracted from relative returns given the stock’s strong performance during the period. Shares of China-based digital advertising company Focus Media trended lower due to concerns about management changes, accounting practices, and mobile spamming. Shares in solar energy manufacturer SunTech Power declined due to lower demand for solar equipment, high inventory levels and the expected decline in ASP (average selling price) of its Photovoltaic (PV) products due to devaluation of the Euro against the U.S. dollar. Solar cell and panel maker SunPower’s shares also declined due to management’s guidance for lower profits due to currency weakness. Other top detractors from absolute (i.e. total return) returns included two Information Technology stocks, video game maker Electronic Arts and Blackberry device manufacturer Research In Motion.

Top contributors to relative returns included Cephalon (Health Care), Shionogi (Health Care) and Aecom Technology (Industrials). Biotechnology stock Cephalon delivered better-than-expected earnings on strength in the company’s cancer treatment and nervous system drug businesses. Japanese pharmaceutical company Shionogi’s shares increased due to better-than-expected sales of Crestor, a cholesterol-lowering drug marketed by AstraZeneca. Shares of Aecom Technology, a global provider of professional technical and management support services, increased during the period due to strong earnings and backlog gains supported by solid growth across segments and geographies. Other top contributors to absolute returns included European airline company Ryanair (Industrials) and consumer electronics retailer Best Buy (Consumer Discretionary).

What is the outlook?

An uncertain global economic outlook together with unpredictable and volatile equity markets have inflicted wounds that will take time to heal. Leverage and illiquidity are exacerbating the situation, creating in many cases what we see as a disconnect between fundamentals and valuation. As always, we continue to focus our research efforts on identifying stocks of companies whose future growth is under-priced in our opinion. At the end of the period, our bottom-up decisions resulted in overweights (i.e. the Fund’s sector position was greater than the benchmark position) in Financials, Industrials and Health Care and underweights in Consumer Staples, Information Technology and Energy relative to the Russell 3000 Growth Index.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		1.8	%

Capital Goods		15.2

Commercial & Professional Services		3.5

Consumer Durables & Apparel		1.9

Consumer Services		0.6

Diversified Financials		4.7

Energy		5.8

Food, Beverage & Tobacco		1.0

Health Care Equipment & Services		6.9

Household & Personal Products		2.1

Insurance		5.9

Materials		3.7

Media		1.5

Other Investment Pools and Funds		1.2

Pharmaceuticals, Biotechnology & Life Sciences		14.1

Real Estate		0.7

Retailing		5.1

Software & Services		12.9

Technology Hardware & Equipment		4.7

Telecommunication Services		2.0

Transportation		1.6

Short-Term Investments		3.7

Other Assets and Liabilities		(0.6	)

Total		100.0	%


		27

Hartford High Yield HLS Fund inception 9/30/1998
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Barclays Capital High Yield Corporate Index is an unmanaged broad-based market value-weighted index that tracks the total return performance of non-investment grade, fixed-rate, publicly placed, dollar denominated and nonconvertible debt registered with the SEC.

Investment goal — Seeks high current income. Growth of capital is a secondary objective.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

High Yield IA		-25.23	%		-1.29	%		1.56	%

High Yield IB		-25.42	%		-1.54	%		1.33	%

Barclays Capital High Yield Corporate Index		-26.16	%		-0.80	%		2.17	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Mark Niland, CFA	Nasri Toutoungi*	James Serhant, CFA
Managing Director	Managing Director	Senior Vice President, Senior Investment Analyst

How did the Fund perform?

The Class IA shares of the Hartford High Yield HLS Fund returned -25.23% for the twelve-month period ended December 31, 2008, outperforming its benchmark, the Barclays Capital High Yield Corporate Index, which returned -26.16% for the same period, and outperforming the -26.93% return of the average fund in the Lipper High Current Yield VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The main factor influencing the Fund’s relative performance (i.e., performance of the Fund as measured against the benchmark) during the year was security selection. Of particular importance was the Fund’s positioning within the Media Non-Cable Industry, as the Fund was generally overweight (i.e., the Fund’s position was greater than the benchmark position) to the sector, but underweight (i.e., the Fund’s position was less than the benchmark position) to a number of the large Leveraged Buyout-financed deals such as Univision and Tribune which looked certain to collapse. Another important positive consideration was the Fund’s overweight to the Cable Television sector (and security selection within the sector), which has many defensive attributes in an economic downturn. Also notable for its favorable impact on the Fund’s performance was security selection within the Banking sector, as the Fund steered clear of credits such as Washington Mutual, which migrated down to the high yield ratings category. Rather, the Fund’s banking exposure was limited to firms that we viewed as clear survivors, such as JP Morgan and Bank of America. While these holdings were outside of the Index, we viewed them as offering attractive risk/return potential. The Fund’s relative underweight to the Technology sector was also a detractor to performance. Throughout this period of extreme volatility the Fund maintained an allocation to cash in order to ensure that redemptions could be met with a minimum of disruption to the Fund, while also providing a cash-reserve for opportunities that presented themselves during the year.


		28

What is the outlook?

Throughout the year the Treasury and the Federal Reserve System (the “Fed”) reacted with bold initiatives to address the seizure that has occurred within the credit markets. As a necessary step towards recovery, capital markets are adjusting to an environment of deleveraging as they continue efforts to reduce risk. This activity, coupled with the current economic backdrop, has caused risk premiums (i.e., increased credit spread or yield differential between Treasury securities and non-Treasury securities) to widen to levels greater than the past two periods of High Yield sell-off. In reaction to speculation that default activity will continue to rise into the coming year, the market has priced in an annualized default rate that is in excess of previous cyclical peaks.

With the markets experiencing indiscriminate selling, the Fund is being very selective as to its outlook on bond issues that are believed to outperform. The current volatility in the capital markets is creating an opportunity for value among the credits that have an ability to withstand the turbulence. Both the fixed-income and equity markets are rediscovering a lesson learned in the early part of this decade, one that illustrates the consequence of suspected bankruptcy and its effect on a stock’s perceived value. With high expectations for prudent management decisions coming from both the equity and credit markets, companies will have to show diligence in order to not be perceived as overly challenged in leverage and liquidity practices. Given the present market conditions, not every company will successfully navigate through the volatility, and therefore we believe defaults will continue to rise from current levels. However, with spreads and yields experiencing at or near record levels across many segments of the market, there are a number of attractive opportunities for the discriminating investor.


*	As disclosed in a supplement to the Fund’s prospectus effective October 1, 2008, Nasri Toutoungi is no longer serving as a portfolio manager of the Fund.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Basic Materials		5.5	%

Capital Goods		2.7

Consumer Cyclical		13.4

Consumer Staples		2.0

Energy		7.0

Finance		8.3

Health Care		9.3

Services		11.6

Technology		19.6

Transportation		1.7

Utilities		8.2

Short-Term Investments		9.2

Other Assets and Liabilities		1.5

Total		100.0	%

Distribution by Security Type
as of December 31, 2008


	Percentage of
Security Type	Net Assets

Asset & Commercial Mortgage Backed Securities		0.5	%

Corporate Bonds: Investment Grades		6.0

Corporate Bonds: Non-Investment Grades		77.8

Senior Floating Rate Interests: Non-Investment Grades		5.0

Short-Term Investments		9.2

Other Assets and Liabilities		1.5

Total		100.0	%

Distribution by Credit Quality
as of December 31, 2008


	Percentage of
	Long-Term
Rating	Holdings

AAA		0.5	%

A		1.3

BBB		3.5

BB		26.3

B		47.5

CCC		19.8

C		0.3

NR		0.8

Total		100.0	%


		29

Hartford Index HLS Fund inception 5/1/1987
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/98 — 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal — Seeks to provide investment results which approximate the price and yield performance of publicly traded common stocks in the aggregate.

Average Annual Returns(2,3) (as of 12/31/08)


	1 Year			5 Year			10 Year

Index IA		-37.11	%		-2.50	%		-1.76	%

Index IB		-37.27	%		-2.74	%		-1.99	%

S&P 500 Index		-36.99	%		-2.19	%		-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on November 9, 1999. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

(3)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower

Portfolio Manager

Deane Gyllenhaal
Vice President

How did the Fund perform?

The Class IA shares of the Hartford Index HLS Fund returned -37.11% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the S&P 500 Index, which returned –36.99% for the same period, and outperforming the -37.20% return of the average fund in the Lipper S&P500 Index Objective VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Global economic and financial market crises during the year drove the U.S. equity markets to their worst performance since the Great Depression. All 10 sectors within the Index, as defined by the Global Industry Classification Standard (GICS), had double-digit negative returns. Financial stocks experienced the highest underperformance, dropping more than half for the year, brought on by the collapse of several major financial institutions that included mortgage banks, insurance companies and brokerage firms. The Materials and Information Technology sectors were the second and third highest contributors to underperformance. The best performing sector was Consumer Staples.

Looking at individual stocks within the benchmark, most of the Index constituents produced negative returns throughout the year. Many of the best and worst performers did not spend the entire calendar year as constituents of the Index. The top three performers were Wrigley, the candy maker, Family Dollar Stores, a discount retailer, and Anheuser Busch, before being acquired by InBev. Financial stocks that contributed the most to underperformance relative to the Index were eventually dropped as Index constituents. This list included Washington Mutual, Lehman Brothers, Fannie Mae and Freddie Mac.

What is the outlook?


		30

Hartford International Growth HLS Fund inception 4/30/2001
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 - 12/31/08
Growth of $10,000 investment

MSCI EAFE Growth Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance (excluding the U.S. and Canada) of the growth securities within the MSCI EAFE Index.

Investment goal – Seeks capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			Since Inception

International Growth IA		-56.78	%		-2.53	%		-0.72	%

International Growth IB		-56.89	%		-2.77	%		-0.96	%

MSCI EAFE Growth Index		-42.46	%		1.77	%		0.42	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Andrew S. Offit, CPA	Matthew D. Hudson, CFA	Jean-Marc Berteaux
Senior Vice President, Partner	Vice President	Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford International Growth HLS Fund returned -56.78% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the MSCI EAFE Growth Index, which returned -42.46% for the same period. The Fund also underperformed the -46.61% return of the average fund in the Lipper International Growth VP-UF Multi-Cap Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Non-U.S. equity markets fell during the period amid ongoing turmoil in global credit markets and accelerating deterioration in the housing and employment markets in the U.S., driving slower global economic growth. Growth stocks (-42.5%) slightly outperformed Value stocks (-43.7%), as measured by the MSCI EAFE Growth and the MSCI EAFE Value indices, respectively. Within the MSCI EAFE Growth Index, all sectors declined sharply. Materials (-54.9%), Financials (-54.6%), and Energy (-52.5%) fell the most during the period, while Health Care (-20.0%), Telecommunication Services (-29.1%), and Consumer Staples (-31.2%) declined the least.

The Fund’s underperformance relative (i.e. performance of the Fund as measured against the benchmark) to the MSCI EAFE Growth Index was a result of weak security selection. Stock selection was weakest in Financials, Consumer Discretionary, and Industrials. Sector positioning, a residual of bottom-up (i.e. stock by stock fundamental research) stock selection, contributed positively to benchmark-relative results during the period primarily due to the Fund’s underweight (i.e. the Fund’s sector position was less than the benchmark position) exposure to Materials and Energy. The Fund also benefited from a moderate cash position, which helped relative performance in a downward-trending market.

Arcandor (Consumer Discretionary), Suntech Power (Industrials), and UBS (Financials) detracted most from relative performance. Shares of Arcandor, Germany’s largest department store chain, moved lower amid poor domestic consumer sentiment. Shares of China-based solar energy company Suntech Power fell sharply amid volatile commodity prices, tightening credit markets, and an anticipated excess supply of solar panels. Shares of Switzerland-based financial services provider UBS fell sharply due to a larger-than-expected exposure to subprime loans, which resulted in a dilutive capital


		32

raise. Other detractors from the Fund’s absolute (i.e. total return) performance were Denmark-based wind power equipment and services company Vestas Wind Systems (Industrials) and British private equity firm 3i Group (Financials).

Top contributors to the Fund’s relative performance were K&S (Materials), Teva Pharmaceutical (Health Care), and Reckitt Benckiser (Consumer Staples). Shares of K&S, a German chemical company and the European leader in potash products, moved higher during the period in which we held the shares after the company reported better-than-expected quarterly earnings and issued optimistic earnings guidance for 2008. K&S also benefited from the global boom in agricultural products in the first half of the year. Israel-based drug manufacturer Teva reported better-than-expected second quarter earnings driven by strong sales of its multiple-sclerosis drug, Copaxone, pushing its shares higher. Shares of British household and personal care products company Reckitt Benckiser rose after the company beat earnings expectations and announced a greater-than-expected dividend increase. Telecommunications and media provider Softbank (Telecommunication Services) and German insurance company Munich Re (Financials) also contributed positively to the Fund’s absolute performance.

What is the outlook?

We select stocks individually based on their merits. During the period we increased our exposure to Telecommunications Services and Health Care, traditionally defensive sectors, as we found investment opportunities that we believe are less economically sensitive and should perform relatively well in a difficult economic environment. As a result, Health Care was the Fund’s largest absolute weight and Telecommunications Services was the largest overweight (i.e. the Fund’s sector position was greater than the benchmark position) exposure relative to the benchmark at the end of the period. The Fund held less-than-benchmark weights in the Utilities, Consumer Staples, Consumer Discretionary, and Industrials sectors.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		3.1	%

Capital Goods		4.8

Commercial & Professional Services		3.6

Consumer Services		0.5

Diversified Financials		4.7

Energy		9.7

Food & Staples Retailing		4.8

Food, Beverage & Tobacco		5.6

Health Care Equipment & Services		1.9

Household & Personal Products		2.5

Insurance		3.0

Materials		8.4

Media		1.1

Pharmaceuticals, Biotechnology & Life Sciences		15.1

Real Estate		0.9

Retailing		2.0

Semiconductors & Semiconductor Equipment		2.3

Software & Services		5.3

Technology Hardware & Equipment		1.6

Telecommunication Services		13.2

Transportation		3.4

Utilities		0.7

Short-Term Investments		1.5

Other Assets and Liabilities		0.3

Total		100.0	%

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets

Australia		0.9	%

Belgium		1.0

Brazil		2.1

Canada		7.4

China		2.1

Denmark		1.2

Finland		0.4

France		9.6

Germany		6.9

Hong Kong		0.9

Israel		3.1

Japan		13.0

Netherlands		6.0

Norway		0.4

Spain		1.2

Sweden		1.5

Switzerland		10.1

United Kingdom		30.4

Short-Term Investments		1.5

Other Assets and Liabilities		0.3

Total		100.0	%


		33

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Nicolas M. Choumenkovitch
Senior Vice President and Partner

How did the Fund perform?

The Class IA of the Hartford International Opportunities HLS Fund returned -42.25% for the twelve-month period ended December 31, 2008, outperforming its benchmark, the MSCI AC (All Country) World Free ex U.S. Index, which returned -45.24% for the same period. The Fund also outperformed the -42.59% return of the average fund in the Lipper International Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

2008 was one of the most volatile years in recent history. Markets fell to open the year and, despite a late-Spring rally, fell sharply in the second half as global economic news worsened. Events such as the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual all highlighted the widespread destruction being wrought by a sudden withdrawal of credit from the global financial system. The global economy also weakened, sending energy and commodities prices lower. Equity investors reacted to these events by shedding risk, leading to large declines in every sector of the MSCI All Country World Free ex—U.S. Index. The hardest hit areas were Financials (-54%), Materials (-53%), and Industrials (-47%). Less economically-sensitive areas like Health Care (-19%), Utilities (-30%), and Consumer Staples (-31%) declined the least.

The Fund’s outperformance versus its benchmark was due to favorable allocation among sectors, a result of the bottom-up (i.e. stock by stock fundamental research) stock selection process, as well as favorable stock selection in Financials. Relative (i.e. performance of the Fund as measured against the benchmark) performance benefited from overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in Health Care and Consumer Staples and underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in Materials and Financials. This more than offset weak stock selection in several sectors, particularly Energy, Utilities, and Materials.


		34

Top contributors to relative performance during the period included Teva Pharmaceuticals (Health Care), Synthes (Health Care), and Nestle (Consumer Staples). Shares of Teva, the world’s largest generic pharmaceutical company, rose after the company raised its fiscal year 2008 earnings per share outlook above consensus estimates. Synthes, a Swiss medical device company, published very solid first-half results that were operationally strong, pushing its shares higher. Nestle is the world’s largest food maker. The company reported strong earnings driven by volume growth from emerging markets and successful execution, boosting its share price. Stocks that contributed most to absolute (i.e. total return) returns were German reinsurance company Munich Re (Financials), and Japanese communications firms Softbank (Telecommunication Services) and Nippon Telephone & Telegraph (Telecommunication Services).

The largest detractors from relative returns were Xstrata (Materials), Talisman Energy (Energy), and Gazprom (Energy). Xstrata is a Swiss-based diversified mining group. Shares in the company fell amid weakening commodity prices and depressed sentiment. Talisman Energy, a Canadian exploration and production company, saw its shares pressured as oil prices spiraled lower. Russian gas company Gazprom’s stock price fell with the continued decline in commodity prices and was further impacted by the broad downturn in Russian equities as investors sought to liquidate risky assets. Other detractors from absolute returns included Swiss bank UBS (Financials) and Japanese finance company Sumitomo Mitsui Financial Group (Financials).

What is the outlook?

2008 was an extraordinary year in financial markets as nearly every asset class recorded significant price declines. Deleveraging across the financial sector accelerated into the fourth quarter, limiting the availability of credit to even the most secure corporate borrowers and exacerbating a slowdown across the real economy. We expect that 2009 will continue to be difficult as we begin to see the impact of the deterioration of the real economy, leading to higher unemployment and increased losses on consumer credit.

At year-end we maintained a defensive posture with our largest overweight positions in Health Care, Telecom Services and Consumer Staples. Looking into 2009, we estimate the cyclical downturn may last several quarters, leading us to favor companies with strong cash flow generation, healthy balance sheets, and a diversified client base.

We ended the period most underweight Industrials, Consumer Discretionary, and Financials. In Financials, consolidation and government intervention favor good management in companies with strong balance sheets that can gain share and improve returns over time, effectively becoming national champions. We continue to look for signals that the market is stabilizing, focusing on four key areas: government intervention, bank recapitalization, credit spread reduction, and a return of liquidity to the financial system.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		1.7	%

Banks		7.3

Capital Goods		2.0

Commercial & Professional Services		0.4

Consumer Durables & Apparel		0.8

Consumer Services		1.1

Diversified Financials		5.5

Energy		9.4

Food, Beverage & Tobacco		10.5

Health Care Equipment & Services		1.9

Household & Personal Products		1.7

Insurance		3.1

Materials		6.6

Other Investment Pools and Funds		7.5

Pharmaceuticals, Biotechnology & Life Sciences		10.1

Real Estate		1.8

Retailing		1.6

Semiconductors & Semiconductor Equipment		1.2

Software & Services		0.8

Technology Hardware & Equipment		2.0

Telecommunication Services		11.7

Transportation		2.2

Utilities		4.1

Short-Term Investments		6.0

Other Assets and Liabilities		(1.0	)

Total		100.0	%

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets

Brazil		1.0	%

Canada		4.1

China		0.4

Denmark		1.0

France		11.0

Germany		6.6

Hong Kong		1.5

India		0.5

Ireland		2.0

Israel		1.8

Italy		0.4

Japan		14.2

Luxembourg		0.6

Mexico		0.5

Netherlands		2.9

Russia		0.3

South Korea		0.6

Spain		2.9

Sweden		0.8

Switzerland		11.3

Taiwan		1.1

United Kingdom		22.0

United States		7.5

Short-Term Investments		6.0

Other Assets and Liabilities		(1.0	)

Total		100.0	%


		35

Hartford International Small Company HLS Fund inception 4/30/2001

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 - 12/31/08
Growth of $10,000 investment

S&P/Citigroup Extended Market Euro-Pacific Index is a global equity index comprised of the smallest 20% of each country’s market capitalization in the S&P/Citigroup Broad Market Global Index. (The S&P/Citigroup Broad Market Global Index captures all companies in developed and emerging markets with free float market capitalization of at least $100 million as of the annual index reconstitution.) All developed countries are included except the U.S. and Canada.

Investment goal — Seeks capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			Since Inception

International Small Co IA		-42.44	%		2.40	%		5.83	%

International Small Co IB		-42.58	%		2.14	%		5.57	%

S&P/Citigroup Extended Market Euro-Pacific Index		-46.62	%		3.03	%		5.71	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Simon H. Thomas		Daniel Maguire, CFA
Vice President		Vice President

How did the Fund perform?

The Class IA shares of the Hartford International Small Company HLS Fund returned -42.44% for the twelve-month period ended December 31, 2008, outperforming its benchmark, the S&P/Citigroup Extended Market Euro-Pacific Index, which returned
-46.62% for the same period. The Fund’s return was in line with the -42.59% return of the average fund in the Lipper International Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Global equity markets fell sharply during the year amid a significant deterioration in both credit market conditions and investor confidence. Forced deleveraging by financial institutions triggered an unprecedented set of bank failures and mergers, significantly reshaping the global financial map. Impaired access to capital has now begun impacting the real economy, reducing expectations for global growth and forcing energy and commodity prices sharply lower. Recent economic data provided little encouragement to investors, as housing, employment, and manufacturing metrics all trended downward. Central banks acted aggressively to soften an economic slowdown, with the U.S. Federal Reserve lowering the federal funds rate and the U.S. government introducing multiple programs aimed at improving liquidity within financial markets. In response to increasing concerns over a shaky financial system and a likely global recession, equity investors across regions sought to shed risk. All ten sectors in the S&P/Citigroup Extended Market Euro-Pacific Index fell significantly during the period, led lower by Energy (-58%), Consumer Discretionary (-52%), Industrials (-49%), and Financials (-49%). Results were less negative in traditionally defensive sectors such as Consumer Staples (-28%), Utilities (-29%), and Health Care (-33%).

The Fund outperformed its benchmark due to both stock selection and allocation among sectors, which is a result of our bottom-up (i.e. stock by stock fundamental research) stock selection process. Stock selection was strongest in Health Care, Information Technology, and Consumer Discretionary. This was partially offset by weaker selection in the Industrials, Utilities,


		36

and Consumer Staples sectors. Relative (i.e. performance of the Fund as measured against the benchmark) performance benefited from an overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in the relatively strong Health Care sector and an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in lagging Materials stocks.

Among the top contributors to relative and absolute (i.e. total return) returns were Jupiter Telecommunications (Consumer Discretionary), Shionogi (Health Care), and OBIC Business Consulting (Information Technology). Jupiter Telecommunications, a Japanese cable company, benefited from the stability of its business model and its focus on the relatively insulated domestic Japanese market. Japanese pharmaceutical company Shionogi’s stock rose on the release of positive clinical results for its cholesterol lowering drug, Crestor. Shares of OBIC, a leading provider of accounting software to small and middle market companies in Japan, rose after the company announced a share repurchase program. Top absolute contributors also included Japanese medical equipment and consumer products company Kobayashi Pharmaceutical.

The largest detractors from relative and absolute performance during the period were Dufry Group (Consumer Discretionary), Cape PLC (Industrials), and Rhodia (Materials). Shares of Dufry, a global operator of duty-free shops, fell on concerns that a global economic slowdown would change the trajectory of its earnings growth. Cape PLC, a British oil and energy services group, was negatively impacted by concerns relating to the availability of credit for the company and potential slowing demand amid decelerating global growth. French specialty chemicals company Rhodia saw its shares decline on concerns about rising input costs as energy prices increased earlier in the year.

What is the outlook?

We select stocks in the Fund one at a time based on their individual merits. At the end of the period we were most overweight Health Care and Energy stocks and most underweight Financials and Consumer Discretionary. Within Health Care, we are focused on the high margin and recurring revenue potential of equipment & service companies, as well as providers of supplies and consumables, and niche, private sector hospital providers. Our Energy overweight is based on the belief that the sector is well positioned to outperform due to compelling supply and demand fundamentals. We continue to be overweight commercial services companies where margins are steady, revenue predictable and profits recurring. We continue to be underweight Financials, where we have avoided exposure to European banks, and Consumer Discretionary stocks, as the headwinds of a slowing global economy are likely to weigh on consumer spending.

On a regional basis, our greatest underweight position at the end of the period was in Europe, mostly due to less-than-benchmark exposures to Spain, the UK, and Finland, as valuations no longer appear compelling relative to the risk/reward profile of many companies in these regions. This was offset by overweight positions in Japan and select Emerging Markets.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.8	%

Banks		1.4

Capital Goods		10.9

Commercial & Professional Services		7.9

Consumer Durables & Apparel		3.1

Consumer Services		3.3

Diversified Financials		4.4

Energy		5.4

Food & Staples Retailing		0.6

Food, Beverage & Tobacco		5.0

Health Care Equipment & Services		12.4

Household & Personal Products		1.6

Insurance		3.7

Materials		6.4

Media		3.0

Pharmaceuticals, Biotechnology & Life Sciences		11.5

Real Estate		1.4

Retailing		4.8

Semiconductors & Semiconductor Equipment		0.8

Software & Services		4.9

Technology Hardware & Equipment		0.5

Transportation		2.9

Utilities		2.5

Other Assets and Liabilities		0.8

Total		100.0	%

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets

Australia		3.9	%

Belgium		0.5

Brazil		0.6

China		2.1

Denmark		1.8

France		14.5

Germany		5.6

Hong Kong		2.2

Italy		3.4

Japan		30.4

Korea (republic of)		0.6

Liechtenstein		0.8

Netherlands		1.5

Norway		3.0

Papua New Guinea		0.3

Singapore		1.3

South Korea		1.6

Spain		1.2

Sweden		2.8

Switzerland		6.4

United Kingdom		14.4

United States		0.3

Other Assets and Liabilities		0.8

Total		100.0	%


		37

Hartford LargeCap Growth HLS Fund inception 5/1/1998

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

Investment goal — Seeks long-term growth of capital.

Average Annual Returns(2,3) (as of 12/31/08)


	1 Year			5 Year			10 Year

LargeCap Growth IA		-42.96	%		-5.60	%		-3.05	%

LargeCap Growth IB		-43.11	%		-5.84	%		-3.30	%

Russell 1000 Growth Index		-38.44	%		-3.42	%		-4.27	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.


(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

(3)		Class IB shares commenced on March 31, 2008. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Hugh Whelan
Managing Director

How did the Fund perform?

The Class IA shares of the Hartford Large Cap Growth HLS Fund returned -42.96% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the Russell 1000 Growth Index, which returned -38.44% for the same period and underperforming the return of the average fund in the Lipper Large-Cap Growth VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned -41.68%.

Why did the Fund perform this way?

Our team invests in companies that we believe have compelling stock characteristics versus the Index. The team’s systematic approach weighs over fifty fundamental characteristics across four broad categories, including business behavior, management behavior, valuation and investor behavior. This analysis is used to build a broadly diversified portfolio of companies, with sector weightings determined largely by the attractiveness of specific stocks within the Fund’s investment universe, an approach which we believe will yield attractive risk-adjusted returns relative to the Index over the long-term.

The Fund’s underperformance for the one-year period relative to the Index (i.e., performance of the Fund as measured against the benchmark) was primarily driven by poor security selection in the Health Care, Information Technology, and Energy sectors. However, the Fund did benefit from favorable security selection in the Consumer Discretionary, Utilities and Telecommunications sectors.

Among the largest detractors from returns was an overweight (i.e. the Fund’s position was greater than the benchmark position) in Waddell & Reed Financials Inc. (Financials) and CF Industries Holdings Inc. (Materials) Although missing analyst expectations, Waddell & Reed’s net income increased during the 3rd quarter compared to the same period a year ago. Despite this, the stock continued to underperform along with the rest of the Financial sector. Shares of CF Industries, a fertilizer manufacturer and distributor, faced challenges due to price weakness in nitrogen and phosphate components.

Among the largest contributors to returns were Schlumberger Ltd. (Energy) and American Express Co. (Financials). While both securities experienced negative total returns, the Fund’s underweight position (i.e. the Fund’s position was less than the


		38

benchmark position) to these securities provided a positive impact on the Fund’s relative performance. The shares of Schlumberger, an oilfield services company, declined along with the rest of the Energy sector as the economic slowdown had a pronounced impact on oil prices. Despite gaining preliminary approval to access over $3 billion of Troubled Asset Relief Program (TARP) funds, as well as initiating corporate restructuring, shares of American Express Co. fell nearly two-thirds, placing it among the worst declines in the Financial sector.

At the end of the period, the Fund’s top constituents included Microsoft, Inc. and Watson Pharmaceuticals. When evaluating a stock’s attractiveness, we consider four categories of characteristics: business behavior, management behavior, valuation, and investor behavior. Microsoft is a top holding primarily due to a combination of good business performance represented by strong returns on invested capital and positive investor sentiment. Similarly, Watson Pharmaceuticals is a top holding primarily due to a combination of good management behavior exhibited by favorable earnings management, positive investor behavior represented by analyst recommendations, and favorable overall valuation.

What is the outlook?

The overall market environment looks challenging for 2009. The equity markets may not have yet fully priced in the possibility of further write-downs within the Banking sector or other negative economic headlines (i.e., further trouble within the housing market and continued severity of the credit crunch). Thus, any further declines may serve to retest the markets’ lows. Many investors will be focused on forthcoming decisions by the new Obama administration with regards to the Troubled Asset Relief Program (TARP) and other stimulus package details. Other factors that may exert influence upon investor sentiment include the impact of the recent interest rate cuts, the price of oil, the value of the U.S. dollar, and the unemployment level in the United States. As the main driver of the current downturn, global housing markets will continue to be scrutinized by investors seeking the beginning of a recovery. Until many of these factors stabilize, most investors will likely remain defensive, expecting a continuation of market volatility. However, we believe this stressful environment, characterized by high price-volatility, uncertainty, and fear, will favor the high quality, fundamentally sound stocks that the Fund’s investment philosophy emphasizes.

At a meeting held on February 3-4, 2009, the Board of Directors of the Hartford HLS Series Fund II, Inc. approved the reorganization (the “Reorganization”) of Hartford LargeCap Growth HLS Fund (the “Aquired Fund”) with and into Hartford Growth Opportunities HLS Fund (the “Acquring Fund”).

The Board of Directors has called for a special meeting of shareholder of the Aquired Fund (the “Meeting”) to be held on or about September 15, 2009, for the purpose of seeking the approval of the Agreement and Plan of Reorganization (“Reorganization Agreement”) with respect to the Acquired Fund. If approved, the Reorganization is expected to Occur on or about October 2, 2009.

If the Reorganization Agreement is approved by the shareholders of the Acquired Fund, the Reorganization Agreement comtemplates: (1) the transfer of all of the assets of the Aq1uired Fund with and into the Acquiring Fund in exchange for shares of the Acquiring Fund having equal net asset value of the Acquired Fund; (2) the assumption by the Acquiring Fund of all the liabilities of the Acquired Fund; and (3) th distribution of shares of the Acquiring Fund to the Shareholders of the Acquirined Fund in complete liquidation of the Acquired Fund. Each shareholder of the Acquired Fund would receive shares of the Acquiring Fund equal in value to the shares of the Acquired Fund held by that shareholder as of the closingdate of the Reorganization.

A proxy statement containing detailed information concerning the Reorganization is expected to be mailed to the Acquired Fund’s shareholders in July, 2009.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Capital Goods		6.8	%

Commercial & Professional Services		1.2

Consumer Durables & Apparel		1.3

Consumer Services		3.8

Diversified Financials		1.9

Energy		7.5

Food & Staples Retailing		4.3

Food, Beverage & Tobacco		7.2

Health Care Equipment & Services		6.1

Household & Personal Products		4.7

Insurance		0.3

Materials		2.9

Media		1.4

Other Investment Pools and Funds		0.3

Pharmaceuticals, Biotechnology & Life Sciences		10.2

Retailing		3.7

Semiconductors & Semiconductor Equipment		3.3

Software & Services		14.5

Technology Hardware & Equipment		13.8

Transportation		2.6

Utilities		0.5

Short-Term Investments		1.4

Other Assets and Liabilities		0.3

Total		100.0	%


		39

Hartford MidCap HLS Fund* inception 7/14/1997

(subadvised by Wellington Management Company)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

S&P 400 MidCap Index is an unmanaged index of common stocks of companies chosen by S&P designed to represent price movements in the midcap U.S. equity market.

Investment goal — Seeks long-term growth of capital.

Average Annual Returns(2,3) (as of 12/31/08)


	1 Year			5 Year			10 Year

MidCap IA		-35.32	%		2.53	%		9.40	%

MidCap IB		-35.49	%		2.27	%		9.14	%

S&P 400 MidCap Index		-36.23	%		-0.08	%		4.46	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on November 9, 1999. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

(3)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

*The Fund has restrictions on the purchase of shares. A description of the restrictions can be found in the prospectus.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Phillip H. Perelmuter
Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford MidCap HLS Fund returned -35.32% for the twelve-month period ended December 31, 2008, outperforming its benchmark, the S&P 400 MidCap Index, which returned -36.23% for the same period. The Fund also outperformed the
-38.25% return of the average fund in the Lipper Mid-Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was an extraordinarily challenging year in financial markets as nearly every asset class recorded significant price declines. After a positive start to the year, global equity markets stumbled as a widespread contraction in credit led to major changes in the financial landscape. These changes included the near collapse of large investment bank Bear Stearns, government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. Equity investors sought to shed risk in response to increasing concerns about the financial system and a U.S. recession, punishing stock prices broadly.

Small cap (-34%), mid cap (-36%), and large cap stocks (-37%) declined in unison during the period, as measured by the Russell 2000, S&P 400 MidCap, and S&P 500 indices, respectively. Value (-37%) and Growth (-38%) stocks performed similarly during the period, as measured by the Russell 1000 Value and Russell 1000 Growth indices. There were no safe havens as all ten sectors within the S&P 400 MidCap Index posted negative returns. Energy (-58%), Telecommunication Services (-51%), and Materials (-44%) were the biggest laggards, while Utilities
(-19%) and Consumer Staples (-24%) declined the least.

Favorable security selection in Consumer Discretionary, Health Care, and Materials contributed to positive relative (i.e. performance of the Fund as measured against the benchmark) performance for the Fund and more than offset weaker stock selection in the Financials, Information Technology, and Energy sectors. Sector positioning, driven by security selection, detracted from benchmark-relative returns during the period, primarily due to underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in Financials and



		40

Utilities. The Fund benefited from a modest cash position, which helped relative performance in a downward-trending market.

Top contributors to returns on a relative basis included Barr Pharmaceuticals (Health Care), ITT Educational Services (Consumer Discretionary), and Allied Waste (Industrials). Shares of specialty pharmaceutical company Barr Pharmaceuticals rose after the company received a stock and cash takeover offer from generic drug firm Teva Pharmaceutical. Shares of ITT, a technology-oriented postsecondary degree programs provider, benefited from strong industry fundamentals as the softer economy aided enrollment growth and increases in federal loan limits enhanced pricing power. Waste management company Allied Waste was acquired by Republic Services in early December. Other top contributors to absolute (i.e. total return) performance included drug developer Millennium Pharmaceuticals (Health Care) and specialty automotive aftermarket parts and accessories retailer O’Reilly Automotive (Consumer Discretionary).

Top detractors from relative performance included Electronic Arts (Information Technology), Chicago Bridge & Iron (Industrials), and CGG Veritas (Energy). Video game software company Electronic Arts saw its shares drift lower on disappointing bottom-line results due to high development costs and acquisition charges. Shares of global engineering and construction company Chicago Bridge & Iron declined due to project cost overruns and poor project bidding. Shares of CGG Veritas, a geophysical equipment and services provider, fell on concerns that demand for its seismic services will decline as energy companies cut back their exploration and production expenditures. U.S. hospital operator Community Health Systems (Health Care) and medical diagnostic test maker Beckman Coulter (Health Care) were also among the top detractors from absolute performance.

What is the outlook?

In this environment we continue to focus our efforts on picking stocks based on a bottom-up (i.e. stock by stock fundamental research) review of their fundamental numbers. As a result of these individual stock decisions, we ended the period with overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions in the Information Technology sector and the traditionally less economically sensitive Health Care sector. The Fund’s largest underweight position at period-end was the Financials sector, an area that continues to be under significant stress amid volatile credit markets.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.4	%

Banks		1.2

Capital Goods		6.9

Commercial & Professional Services		7.1

Consumer Durables & Apparel		1.4

Consumer Services		4.6

Diversified Financials		1.7

Energy		4.0

Finance		0.5

Food & Staples Retailing		1.7

Health Care Equipment & Services		9.8

Household & Personal Products		1.7

Insurance		8.0

Materials		3.9

Media		2.4

Pharmaceuticals, Biotechnology & Life Sciences		6.0

Real Estate		0.6

Retailing		8.1

Semiconductors & Semiconductor Equipment		2.6

Software & Services		9.2

Technology Hardware & Equipment		5.3

Telecommunication Services		1.0

Transportation		2.5

Utilities		5.7

Short-Term Investments		3.7

Total		100.0	%



		41

Hartford MidCap Growth HLS Fund inception 5/1/1998

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell MidCap Growth Index is an unmanaged index measuring the performance of the mid-cap growth segment of the U.S. equity universe.

S&P 400 MidCap Index is an unmanaged index of common stocks of companies chosen by S&P designed to represent price movements in the midcap U.S. equity market.

Investment goal — Seeks long-term growth of capital.

Average Annual Returns(2,3) (as of 12/31/08)


	1 Year			5 Year			10 Year

MidCap Growth IA		-46.85	%		-4.70	%		0.35	%

MidCap Growth IB		-46.97	%		-4.94	%		0.10	%

Russell MidCap Growth Index		-44.32	%		-2.33	%		-0.19	%

S&P 400 MidCap Index		-36.23	%		-0.08	%		4.46	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

(3)		Class IB shares commenced on March 31, 2008. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Hugh Whelan
Managing Director

How did the Fund perform?

The Class IA shares of the Hartford MidCap Growth HLS Fund returned -46.85% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the Russell MidCap Growth Index, which returned -44.32% for the same period, and underperforming the return of the average fund in the Lipper Mid-Cap Growth VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned -45.24%.

Why did the Fund perform this way?

Our team invests in companies that we believe have compelling stock characteristics versus the Index. The team’s systematic approach weighs over thirty fundamental characteristics across four broad categories, including business behavior, management behavior, valuation and investor behavior. This analysis is used to build a broadly diversified portfolio of companies, with sector weightings determined largely by the attractiveness of specific stocks within the Fund’s investment universe. Overall, the Fund tends to invest in financially efficient companies with attractive valuations and strong balance sheets. We believe this approach will yield attractive risk-adjusted returns relative to the Index over the long term.

The Fund’s underperformance for the one-year period relative to the Index (i.e. performance of the Fund as measured against the benchmark) was primarily due to an overweight position (i.e. the Fund’s sector position was greater than the benchmark position) in the Energy sector as well as adverse security selection in the Material and Financial sectors. This was offset by favorable security selection in the Consumer Discretionary and Consumer Staples sectors.

The primary detractor from returns was an overweight position in Tesoro Corp, a petroleum refining company. A declining crack-spread, defined as the difference between the price of a



		42

unit of crude oil and a unit of refined petroleum, eroded much of the company’s bottom line as well as future earnings potential. An overweight position in fertilizer manufacturer and distributor CF Industries Holdings Inc. also detracted from relative return. The company’s stock experienced a pronounced slide amid fears that the credit crisis would negatively impact farmers’ ability to raise new capital for next year’s growing season

Among the largest contributors to relative returns was a large underweight position (i.e. the Fund’s sector position was less than the benchmark position) in McDermott International, a specialty engineering and construction company. McDermott suffered substantial losses on several Middle-Eastern oil pipeline construction projects. Similarly, an underweight in motorcycle stalwart Harley Davidson helped buoy relative performance. Harley Davidson struggled due to the retrenchment of the consumer and a growing aversion toward luxury items.

What is the outlook?

At the end of the period the Fund’s top holdings included overweight positions in Yum! Brands, a quick-service restaurant operator and Express Scripts, a pharmacy benefits management company. Yum! Brands is a top holding because of positive investor preferences, including strong volume and a high consensus of analyst estimates. Express Scripts is a top holding due to strong management behavior as evidenced by disciplined capital spending patterns and conservative accounting practices.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Capital Goods		12.4	%

Commercial & Professional Services		3.0

Consumer Durables & Apparel		2.1

Consumer Services		7.3

Diversified Financials		5.2

Energy		8.2

Food, Beverage & Tobacco		3.3

Health Care Equipment & Services		8.0

Household & Personal Products		2.2

Insurance		0.3

Materials		4.8

Media		2.0

Other Investment Pools and Funds		0.3

Pharmaceuticals, Biotechnology & Life Sciences		4.5

Real Estate		0.5

Retailing		6.3

Semiconductors & Semiconductor Equipment		6.0

Software & Services		8.6

Technology Hardware & Equipment		5.5

Telecommunication Services		2.8

Transportation		1.8

Utilities		3.1

Short-Term Investments		2.0

Other Assets and Liabilities		(0.2	)

Total		100.0	%



		43

Hartford MidCap Value HLS Fund* inception 4/30/2001

(subadvised by Wellington Management Company)

Performance Overview(1) 4/30/01 - 12/31/08
Growth of $10,000 investment

Russell 2500 Value Index is an unmanaged index measuring the performance of those Russell 2500 Index companies with lower price-to-book ratios and lower forecasted growth values.

Investment goal — Seeks long-term capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			Since Inception

MidCap Value IA		-40.21	%		-1.64	%		1.75	%

MidCap Value IB		-40.36	%		-1.88	%		1.51	%

Russell 2500 Value Index		-31.99	%		-0.15	%		4.22	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.


(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

*The Fund has restrictions on the purchase of shares. A description of the restrictions can be found in the prospectus.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

James N. Mordy
Senior Vice President, Partner

How did the Fund perform?

The Class IA shares of the Hartford MidCap Value HLS Fund returned -40.21% for the one year period ended December 31, 2008, underperforming its benchmark, the Russell 2500 Value Index, which returned -31.99% for the same period. The Fund also underperformed the -38.72 % return of the average fund in the Lipper Mid-Cap Value VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

We are in a period of tremendous uncertainty. Confidence in our global financial system has been badly damaged by the contagion which began with the U.S. housing slump and has spread to the collapse of major financial institutions, a transformation of Wall Street, and a complete failure of global credit markets which has pushed us into a global recession. The impact of the credit crunch on the real economy is now starkly evident. Governments around the world are taking unprecedented actions to provide liquidity and prevent a worst case meltdown. We think many of the steps taken, including TARP, equitizing banks, supporting commercial paper markets, raising insured deposit limits, and Federal Reserve rate cuts are

all positive measures. More actions will no doubt follow. The U.S. Federal Reserve will greatly expand its balance sheet until the private sector again shows an appetite for some risk.

In this environment equity markets fell dramatically across the board. Large (-37%), mid (-36%), and small (-34%) cap stocks declined in unison during the period, as measured by the S&P 500, S&P 400 MidCap, and Russell 2000 indices, respectively. Growth (-38%) and Value
(-37%) stocks also declined, as measured by the Russell 1000 Growth and Russell 1000 Value indices. Weakness was widespread during the period as all sectors in the Russell 2500 Value Index posted large double-digit negative returns. Energy (-51%), Consumer Discretionary
(-46%) and Information Technology (-45%) posted the largest losses. Utilities (-16%) was the best relative performer given the defensive nature of the companies within the sector.

The Fund’s underperformance versus its benchmark was driven primarily by weak stock selection particularly within Financials, Consumer Staples and Energy. Stock selection within the traditionally defensive Health Care sector contributed positively to relative (i.e. performance of the Fund



		44

as measured against the benchmark) performance. Overall sector allocation, which is a fall-out from bottom up stock selection, also detracted from relative performance. In particular, our underweight (i.e. the Fund’s sector position was less than the benchmark position) position in Financials and our overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Information Technology more than offset positive returns from our underweight position in Energy and overweight position in Consumer Staples.

The largest detractors from performance during the period included Flextronics (Information Technology), Rhodia (Materials) and R.H. Donnelley (Consumer Discretionary). Shares of global electronics assembly contractor Flextronics declined due to lower new orders and a reduction in earnings guidance from management. French specialty chemical company Rhodia’s shares declined due to consensus’ perceived cyclicality of the company’s business lines and foreign currency pressures. U.S. Yellow Pages company R.H. Donnelley’s stock price fell as investors worried about the negative impact of softer advertising sales during a recession on earnings and cash flow, given the company’s financial leverage. Another top detractor from absolute (i.e. total return) returns was electronic components manufacturer Arrow Electronics (Information Technology).

Among the top contributors to relative performance during the period were Barr Pharmaceuticals (Health Care), Delta Airlines (Industrials) and CACI (Information Technology). Global specialty pharmaceutical company Barr Pharmaceutical’s shares increased following an offer by Teva Pharmaceuticals (a generic global pharmaceutical company) to acquire the company. Delta Airlines’ shares benefited from lower jet fuel prices during the period and the industry’s capacity curtailment ahead of weaker demand. Shares of technology services company CACI rose on news that the company recently received new U.S. government contracts. Another contributor to absolute returns was Annaly Capital Management (Financials).

What is the outlook?

The U.S. economy is declining at its sharpest pace in recent history. The global economy has also continued to deteriorate, with Europe and Japan succumbing to a recession that has engulfed the developed world and large segments of the emerging markets. China and India are downshifting to mid single digit growth, and thus are contributing to the economic malaise. As the massive global deleveraging continues, both consumption and capital goods purchases are likely to see a meaningful contraction over the next year. The destruction in consumer wealth in the U.S., so far estimated at $9 trillion, suggests a timid pace of growth is in store once a recovery begins, as an increased savings rate seems likely to be sustained for some time.

It would seem that this gloomy economic picture is now widely recognized. Government efforts to reignite the economy are massive in scope and provide some basis for improving investor sentiment. With a little luck, we could see a sequential bottom in GDP by mid ’09. While we remain wary of highly leveraged or illiquid balance sheets, we are inclined to begin moving away from some of our more defensive positions. At the end of the period, the Fund was most overweight Health Care and Information Technology and most underweight Financials.

Diversification by Industry

as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.4	%

Banks		3.1

Capital Goods		5.7

Commercial & Professional Services		1.1

Consumer Durables & Apparel		5.6

Diversified Financials		7.2

Energy		3.4

Food, Beverage & Tobacco		5.9

Health Care Equipment & Services		6.5

Insurance		11.2

Materials		8.6

Media		1.0

Pharmaceuticals, Biotechnology & Life Sciences		4.0

Real Estate		3.5

Retailing		4.0

Semiconductors & Semiconductor Equipment		2.5

Software & Services		4.4

Technology Hardware & Equipment		6.2

Transportation		5.4

Utilities		9.4

Short-Term Investments		0.9

Total		100.0	%



		45

Hartford Small Company HLS Fund inception 8/9/1996

(subadvised by: Wellington Management Company, LLP
Hartford Investment Management Company)

Performance Overview(1) 12/31/98 — 12/31/08
Growth of $10,000 investment

Russell 2000 Growth Index is an unmanaged index of those Russell 2000 Index growth companies with higher price-to-book ratios and higher forecasted growth values.

Investment goal — Seeks growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Small Company IA		-40.60	%		1.05	%		3.46	%

Small Company IB		-40.73	%		0.81	%		3.23	%

Russell 2000 Growth Index		-38.54	%		-2.35	%		-0.76	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.


(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Managers


Wellington Management Company, LLP			Hartford Investment Management Company
Steven C. Angeli, CFA	Stephen Mortimer	Mario E. Abularach, CFA	Hugh Whelan
Senior Vice President, Partner	Vice President	Vice President	Managing Director

How did the Fund perform?

The Class IA shares of the Hartford Small Company HLS Fund returned -40.60% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the Russell 2000 Growth Index, which returned -38.54% for the same period. The Fund outperformed the
-41.12% return of the average fund in the Lipper Small Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one year period was one of the most volatile in recent history. After a positive start to the year, the global equity markets stumbled on credit crunch related issues such as the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a global recession, equity investors sought to shed risk. In this environment, small cap, mid cap and large cap stocks all declined by over 30% during the period, as measured by the Russell 2000 (-34%), S&P 400 MidCap (-36%) and S&P 500 (-37%) indices, respectively. All sectors within the Russell 2000 Growth Index posted double digit declines. Energy (-51%), Telecommunication Services (-49%), Materials (-47%), and Consumer Discretionary (-44%) declined the most while Consumer Staples (-19%) declined the least.

The Fund underperformed its benchmark during the period primarily due to weak stock selection within Financials, Information Technology, and Energy. Sector allocation helped performance due to an underweight (i.e. the Fund’s sector position was less than the benchmark position) position in Energy and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Telecommunication Services. Stock selection in Telecommunication Services helped performance during the period, as did a moderate allocation to cash in a declining market.

On an individual stock basis, Focus Media (Consumer Discretionary) was the biggest setback to relative (i.e. performance of the Fund as measured against the benchmark)



		46

performance. The China-based digital advertising and media company’s shares were beset by a series of company-specific issues, including management changes, accounting questions, and mobile spamming. A broad market sell-off across China compounded share price weakness. MF Global (Financials), a leading broker of exchange traded futures and options, also significantly hurt results. A rogue trading incident and consequent misgivings about MF Global’s controls and counterparty risk led the stock price to fall. We eliminated the position in favor of more attractive opportunities. ON Semiconductor (Information Technology) also hurt the Fund as semiconductors were impacted by global economic weakness, particularly in the auto and industrial sectors. This deterioration also caused ON Semiconductor to withdraw its proposal to acquire Amtel Corporation, further impacting the share price. Other significant detractors from absolute returns included Solutia (Materials) and Forest Oil (Energy).

Strong earnings and solid growth across practice areas and geographies boosted shares of Aecom Technology (Industrials), the top contributor to returns relative to the benchmark. In addition, Energy holding Cabot Oil & Gas (Energy), an independent exploration and production company with oil and gas properties in North America, and Centennial Communications (Telecommunications), a wireless service provider, contributed to relative performance. Cabot Oil & Gas posted gains on rising natural gas prices, impressive results in their East Texas acreage that helped boost reserves, and disciplined execution that helped control exploration and development costs. We took profit on Cabot Oil & Gas before the broad commodities sell off. Centennial Communications climbed after AT&T made a bid to acquire it. Other significant contributors to absolute returns included Millennium Pharmaceuticals (Health Care) and Arch Coal (Energy).

What is the outlook?

The overall market environment looks challenging for 2009. We are in a period of tremendous uncertainty. Confidence in our global financial system has been badly damaged by the contagion which began with the U.S. housing slump and has spread to the collapse of major financial institutions, a transformation of Wall Street, a seizure of global credit markets, and the ensuing global recession.

Despite the uncertainty, the Fund continues to focus on stocks of companies that we see as having unique business models, special market opportunities or sound fundamentals that should allow them to deliver growth during these turbulent times. The Fund remains well diversified, with holdings across all major market sectors. Bottom-up, fundamental research-driven stock-by-stock investment decisions led to overweights in Financials, Information Technology, Telecommunication Services, Industrials, and Consumer Staples relative to the Russell 2000 Growth Index at the end of the period. The Fund ended the period underweight in Health Care, Energy, Materials, and Utilities. Our largest holdings included Aecom Technology

(Industrials), Solera Holdings (Information Technology), and Waste Connections (Industrials).

At the end of the period, 51% of the Fund’s assets were managed by Wellington Management Company and 49% were managed by Hartford Investment Management Company.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.4	%

Banks		0.6

Capital Goods		9.4

Commercial & Professional Services		7.0

Consumer Durables & Apparel		3.4

Consumer Services		3.0

Diversified Financials		2.6

Energy		5.8

Food & Staples Retailing		1.2

Food, Beverage & Tobacco		1.7

Health Care Equipment & Services		9.1

Household & Personal Products		0.3

Insurance		3.6

Materials		2.4

Media		2.0

Other Investment Pools and Funds		0.5

Pharmaceuticals, Biotechnology & Life Sciences		11.2

Real Estate		0.7

Retailing		3.7

Semiconductors & Semiconductor Equipment		3.1

Software & Services		14.2

Technology Hardware & Equipment		5.2

Telecommunication Services		2.2

Transportation		2.8

Utilities		0.5

Short-Term Investments		3.0

Other Assets and Liabilities		0.4

Total		100.0	%



		47

Hartford SmallCap Growth HLS Fund inception 5/2/1994

(subadvised by: Wellington Management Company, LLP
Hartford Investment Management Company)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 2000 Growth Index is an unmanaged index of those Russell 2000 Index growth companies with higher price-to-book ratios and higher forecasted growth values.

Investment goal — Seeks long-term capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

SmallCap Growth IA		-37.42	%		-3.40	%		2.45	%

SmallCap Growth IB		-37.57	%		-3.63	%		2.20	%

Russell 2000 Growth Index		-38.54	%		-2.35	%		-0.76	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.


(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Managers


Wellington Management Company, LLP		Hartford Investment Management Company
David J. Elliot, CFA	Doris T. Dwyer	Hugh Whelan
Vice President	Vice President	Managing Director

How did the Fund perform?

The Class IA shares of the Hartford Small Cap Growth HLS Fund returned -37.42% for the twelve-month period ended December 31, 2008, outperforming its benchmark, the Russell 2000 Growth Index, which returned -38.54% for the same period. The Fund also outperformed the
-41.12% return of the average fund in the Lipper Small Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one year period was one of the most volatile in recent history. After a modestly positive start to the year, the global equity markets stumbled on credit crunch related issues such as the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a global recession, equity investors sought to shed risk.

In this environment, small cap, mid cap and large cap stocks all declined by over 30% during the period, as measured by the Russell 2000
(-33.79%), S&P 400 MidCap (-36.23%) and S&P 500 (-37.00%) indices, respectively. All sectors within the Russell 2000 Growth Index posted double digit declines. Energy (-51.74%), Telecommunication Services (-49.07%), Materials (-46.82%), and Consumer Discretionary
(-44.23%) declined the most while Consumer Staples (-18.68%) declined the least.

Security selection had a positive effect on relative (i.e. performance of the Fund as measured against the benchmark) returns, as favorable stock selection primarily in Materials and Consumer Discretionary was only slightly offset by weaker security selection in Energy and Health Care.

Top contributors to absolute (i.e. total return) and relative performance included Amerisafe (Financials), Watson Wyatt (Industrials) and ITT Educational Services (Consumer Discretionary). Shares of Amerisafe, a specialty provider of workers’ compensation insurance, rose with strong third quarter results, helped by better-than-expected accident year loss ratio



		48

(a measure of profitability) and lower than expected underwriting and operating expenses. Watson Wyatt, a global provider of human capital and financial management consulting services, performed well as it reported solid fiscal first quarter results. ITT Educational Services, a U.S. provider of post-secondary degree programs, saw its shares rise, as the company raised its estimates for 2009 on strong enrollments, revenue upside and lower expenses. Cliff Natural Resources, a mining company, was another top contributor to absolute performance.

The top relative and absolute detractors from performance were ATP Oil & Gas (Energy), Complete Production (Energy), and Rigel Pharmaceutical (Health Care). Shares of ATP Oil & Gas, an offshore oil and natural gas company, declined sharply in the second half of the year, on lower commodity prices, softer production volumes and liquidity concerns. Complete Production, a North American drilling and production services provider, performed poorly amid weakening economy, lack of credit availability, declining commodity prices and anticipation of slower drilling activity in 2009. Shares of a clinical stage drug development company Rigel Pharmaceutical slipped after test results for its rheumatoid arthritis drug indicated elevated blood pressure and liver enzyme levels.

What is the outlook?

The economy is declining at its sharpest pace in recent history. While the current pace of decline is unlikely to persist for long, further significant contraction is still expected in 2009. With a little luck, the economy can put in a sequential bottom some time late this spring or early summer, yet the deleveraging process will continue to be felt for years.

A company’s balance sheet strength, cash flow generation and ability to control financial outcomes – always critical considerations in assessing opportunity and risk – are of paramount importance in this environment. Confidence in a company’s ability to achieve our earnings forecasts, upside potential in its stock price, and reasonable liquidity can help us determine whether, and how much, to own of any given security. We believe the elevated level of fear in the market will eventually abate and that our care, diligence and patience will be rewarded.

At the end of the period the Fund was most overweight (i.e. the Fund’s sector position was greater than the benchmark position) Health Care and Information Technology, while underweight (i.e. the Fund’s sector position was less than the benchmark position) Industrials, Financials, Consumer Discretionary and Materials relative to the Russell 2000 Growth Index.

At the end of the period, 91% of the Fund’s assets were managed by Wellington Management Company and 9% were managed by Hartford Investment Management Company.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.4	%

Capital Goods		10.4

Commercial & Professional Services		4.7

Consumer Durables & Apparel		2.1

Consumer Services		5.2

Diversified Financials		0.8

Energy		7.0

Food & Staples Retailing		1.1

Food, Beverage & Tobacco		0.5

Health Care Equipment & Services		11.3

Household & Personal Products		1.6

Insurance		2.3

Materials		1.4

Media		0.9

Pharmaceuticals, Biotechnology & Life Sciences		16.9

Real Estate		0.7

Retailing		2.6

Semiconductors & Semiconductor Equipment		4.5

Software & Services		12.8

Technology		0.1

Technology Hardware & Equipment		6.0

Telecommunication Services		1.4

Transportation		2.0

Utilities		0.5

Short-Term Investments		2.4

Other Assets and Liabilities		0.4

Total		100.0	%



		49

Hartford SmallCap Value HLS Fund inception 5/1/1998

(subadvised by: Kayne Anderson Rudnick Investment Management, LLC
Metropolitan West Capital Management,
LLC SSgA Funds Management, Inc.)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 2000 Value Index is an unmanaged index measuring the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.

Investment goal — Seeks capital appreciation.

Average Annual Returns(2,3) (as of 12/31/08)


	1 Year			5 Year			10 Year

SmallCap Value IA		-29.36	%		-0.32	%		7.44	%

SmallCap Value IB		-29.57	%		-0.51	%		7.19	%

Russell 2000 Value Index		-28.92	%		0.27	%		6.11	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.


(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.
(3)		Class IB shares commenced on July 1, 2003. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects the actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Managers


Kayne Anderson Rudnick Investment Management, LLC	Metropolitan West Capital Management, LLC	SSgA Funds Management, Inc.
Robert A. Schwarzkopf, CFA	Gary W. Lisenbee	Ric Thomas, CFA
Managing Director	President	Principal
Sandi L. Gleason, CFA	Samir Sikka	Chuck Martin, CFA
Julie Kutasov, CPA	Senior Vice President	Principal

How did the fund perform?

The Class IA shares of the Hartford SmallCap Value HLS Fund returned -29.36% for the twelve month period ended December 31, 2008. The Fund underperformed the -28.92% return of its benchmark, the Russell 2000 Value Index, and outperformed the -32.92% return of the Lipper Small Cap Value VP-UF peer group average, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Overall the equity market in the second half of the period was marked by extreme volatility. Equities fell during the period due to continued turmoil in the credit and housing markets and concerns regarding economic growth. Within the Russell 2000 Value Index, all ten sectors posted negative returns for the period led by Telecommunication Services (-51.6%), and Consumer Discretionary (-50.5%). Utilities (-8.3%) and Consumer Staples (-19.5%) declined the least.

Stock selection was the primary driver of our performance during the year ended December 31, 2008. Detractors from performance included Tempur-Pedic International (Consumer Discretionary), National Financial Partners (Financials) and Crosstex Energy (Energy). Tempur-Pedic, which was one of our top performers in 2007, fell hard on weak sales, the tough economic environment and increased competition. During the period, Tempur-Pedic suspended its dividend and lowered its earning guidance. National Financial Partners, an independent distributor of financial service products, dropped during the period on poor sales, analysts’ downgrades and liquidity concerns. Shares of Crosstex Energy, a natural gas company, tumbled during the period due to declining commodity prices, a reduction in its distributions and the slowdown in industry drilling activity.

World Fuel Services (Energy), Children’s Place Retail Stores (Consumer Discretionary) and Cathay General Bancorp (Financials) were top relative (i.e. performance of the Fund as measured against the benchmark) performers. Shares of World



		50

Fuel Services, a company that engages in the marketing and sales of marine, aviation and land fuel products, rose during 2008 due to record earnings and the successful integration of Kropp Holdings. World Fuel Services acquired Kropp Holdings in December 2007. During the reporting period, Children’s Place stock recouped some of its prior losses as it divested its ailing Disney Store business. Based in Los Angeles and targeting a Chinese-American clientele, Cathay General boasts one of the most disciplined management teams in the industry. To its credit, Cathay has not needed to raise capital throughout the credit crisis, setting it apart from the vast majority of its peers. Cathay General ended the period as one of our largest holdings.

What is the outlook?

The U.S. economy is declining at the sharpest pace in recent history. The overall market environment continues to look challenging for 2009. Nevertheless, while the policymakers’ (including the Fed) actions taken recently should help stem the current crisis, obstacles will likely remain. The fallout and the resulting changes taking place at present in the Financial Services sector are going to have reverberations for the global economy in the short and medium term and will ultimately impact most sectors. However, we have little doubt that now, with the full attention of the world’s central banks, governments and regulators, financial markets will make their way through the chasm caused by an historical confluence of circumstances.

Currently, the Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) positions relative to the benchmark were in Industrials and Health Care. Conversely, the Fund’s largest underweight (i.e. the Fund’s sector position was less than the benchmark position) position relative to the benchmark continues to be in Financials. We believe that the complementary style of the three sub-advisers provides the Fund with a well positioned portfolio in this environment to add value relative to the market and its peers.

At the end of the period, 37% of the Fund’s assets were managed by Kayne Anderson Rudnick Investment Management, 34% of the Fund’s assets were managed by Metropolitan West Capital Management and 29% of the Fund’s assets were managed by SSgA Funds Management.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.4	%

Banks		11.1

Capital Goods		9.1

Commercial & Professional Services		8.5

Consumer Durables & Apparel		3.6

Consumer Services		2.8

Diversified Financials		3.2

Energy		4.1

Food & Staples Retailing		0.4

Food, Beverage & Tobacco		2.3

Health Care Equipment & Services		9.5

Household & Personal Products		4.3

Insurance		3.7

Materials		3.3

Media		0.7

Pharmaceuticals, Biotechnology & Life Sciences		1.2

Real Estate		4.0

Retailing		2.0

Semiconductors & Semiconductor Equipment		1.7

Software & Services		6.9

Technology Hardware & Equipment		3.3

Telecommunication Services		1.1

Transportation		4.4

Utilities		2.5

Short-Term Investments		4.6

Other Assets and Liabilities		1.3

Total		100.0	%



		51

Hartford Stock HLS Fund inception 8/31/1977

(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal — Seeks long-term growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Stock IA		-43.13	%		-4.64	%		-2.99	%

Stock IB		-43.27	%		-4.88	%		-3.21	%

S&P 500 Index		-36.99	%		-2.19	%		-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.


(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Managers


Steven T. Irons, CFA		Peter I. Higgins, CFA
Senior Vice President, Partner		Senior Vice President and Partner

How did the Fund perform?

The Class IA shares of the Hartford Stock HLS Fund returned -43.13% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the S&P 500 Index which returned -36.99% for the same period. The Fund also underperformed the -38.76% return of the average fund in the Lipper Large Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in history. After a positive start to the year, global equity markets stumbled as the widespread contraction in credit led to major changes in the financial landscape. These changes included the near collapse of the large investment bank Bear Stearns, government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a potential U.S. recession, equity investors sought to shed risk, punishing equity securities broadly.

Large (-37%), mid (-36%), and small (-34%) cap stocks declined, by similar levels during the period, as measured by the S&P 500 , S&P 400 MidCap and Russell 2000 indices, respectively. The same was true for Growth (-38%) and Value (-37%) stocks, as measured by the Russell 1000 Growth and Russell 1000 Value indices. All ten sectors within the S&P 500 Index posted sharp negative returns during the period, led by Financials (-55%), Materials (-46%) and Information Technology (-43%). Traditionally defensive sectors Consumer Staples (-15%) and Health Care (-23%) declined the least.

The Fund’s underperformance versus the benchmark was driven by security selection, which was weakest in Financials, Information Technology, and Energy. Sector positioning, which is a result of bottom-up (i.e. stock by stock fundamental research) security selection, also detracted from performance due to underweight (i.e. the Fund’s sector position was less than the benchmark position) exposures to Consumer Staples and Utilities, and overweight (i.e. the Fund’s sector position was greater than the benchmark position) exposures to Financials and Information Technology.



		52

Stocks that detracted the most from relative (i.e. performance of the Fund as measured against the benchmark) returns during the period were Washington Mutual (Financials), Gazprom (Energy) and Lehman Brothers (Financials). Shares of consumer and small business banking company Washington Mutual fell significantly early in the year on fears that the losses it would incur on its residential real estate portfolio could force another dilutive capital raise and further depress earnings. We believed the company had substantial resources to weather the current environment and absorb the coming losses through the credit cycle. However, the FDIC forced the company’s hand by publicly expressing concern about the quality of their mortgage assets and by facilitating an acquisition by JP Morgan to minimize future risk to FDIC insurance assets. Russia-based Gazprom, the world’s largest natural gas producer, saw its shares fall amid a weakening economic environment, escalating geopolitical concerns, and declining natural gas prices. Investment bank Lehman Brothers’ shares collapsed as the company fell victim to the financial crisis during the third quarter; lack of confidence, a liquidity crisis, and inability to attract a partner ultimately led to the firm’s demise. Significant detractors from absolute (i.e. total return) returns also included General Electric (Industrials) and Goldman Sachs (Financials).

Top contributors to relative performance during the period were Shionogi (Health Care), Comcast (Consumer Discretionary) and Delta Air Lines (Industrials). Shares of Shionogi, a Japanese pharmaceutical company, rose after the company reported steady earnings growth driven by sales of cholesterol lowering drug Crestor and allergy drug Claritin. Shares of cable company Comcast outperformed as the company’s solid operating results during a challenging economic environment helped the stock price. Delta Air Lines’ share price rallied on falling oil prices in the second half of the year. The Fund’s holdings in Qualcomm (Information Technology) and Genentech (Health Care) also contributed positively to the Fund’s returns on an absolute basis.

What is the outlook?

In this environment we continue to focus our efforts on stock-by-stock fundamental research to construct a diversified large-cap core portfolio. We look for companies that exhibit the following qualities: industry leadership, strong balance sheets, solid management, high return on equity, accelerating earnings, and/or attractive valuation with a catalyst. At the end of the period, our bottom-up investment approach resulted in overweight exposures in Financials, Information Technology, and Consumer Discretionary, as we found a number of attractive investment opportunities in these sectors. The Fund’s largest

underweights relative to the S&P 500 were in Utilities, Consumer Staples and Telecommunication Services.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.5	%

Banks		4.4

Capital Goods		5.1

Commercial & Professional Services		0.4

Diversified Financials		11.7

Energy		13.6

Food & Staples Retailing		4.8

Food, Beverage & Tobacco		3.4

Health Care Equipment & Services		4.7

Household & Personal Products		0.5

Insurance		0.8

Materials		3.1

Media		5.1

Pharmaceuticals, Biotechnology & Life Sciences	11.3

Retailing		5.6

Semiconductors & Semiconductor Equipment		4.5

Software & Services		6.1

Technology Hardware & Equipment		8.0

Telecommunication Services		1.3

Transportation		4.4

Short-Term Investments		0.4

Other Assets and Liabilities		0.3

Total		100.0	%



		53

Hartford Total Return Bond HLS Fund inception 8/31/1977

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index and is composed of securities from the Barclays Capital Government/Credit Bond Index, Mortgage-Backed Securities Index, Asset-Backed Securities Index and Commercial Mortgage-Backed Securities Index.

Investment goal — Seeks a competitive total return, with income as a secondary objective.

Average Annual Returns(2) (as of 12/31/08)


	1 Year		5 Year			10 Year

Total Return Bond IA	-7.62	%		1.67	%		4.40	%

Total Return Bond IB	-7.85	%		1.41	%		4.16	%

Barclays Capital U.S. Aggregate Bond Index	5.24	%		4.65	%		5.63	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Nasri Toutoungi
Managing Director

How did the Fund perform?

The Class IA shares of the Hartford Total Return Bond HLS Fund returned -7.62 % for the twelve-month period ended December 31, 2008, underperforming its benchmark, the Barclays Capital U.S. Aggregate Bond Index, which returned 5.24% for the same period, and underperforming the return of the average fund in the Lipper Intermediate Investment Grade Debt VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund, which returned -3.00%.

Why did the Fund perform this way?

Broadly speaking, the Fund had greater exposure to widening risk premiums (i.e., increased credit spread or yield differential between Treasury securities and non-Treasury securities) than the Index. Credit spreads gapped wider in all spread (i.e., non-Treasury) sectors to levels not seen since the Great Depression. Within this framework, various factors contributed to the Fund’s underperformance versus the Index.

The Fund maintained an overweight position (i.e., the Fund’s sector position was greater than the benchmark position) to the investment grade corporate bond sector throughout the year. The Barclays Capital U.S. Credit Index produced an excess return (Treasury adjusted return or the index return less the return on a set of duration-equivalent Treasuries) of negative 17.86%. In particular, the Fund maintained an overweight to subordinate financial issues which suffered to a greater extent than senior financial issues.

Asset Backed Securities (ABS) detracted from performance as the consumer’s ability to repay loans declined and the housing crisis continued to worsen. The value of home equity ABS receivables declined as home prices continued to slip and similarly prices of auto loan and revolving consumer credit receivables continued to decline. Although exposure to these sectors of the ABS market represented a small fraction of the overall NAV of the Fund, the declining value of these receivables caused a negative impact on relative (i.e. performance of the Fund as measured against the benchmark) performance.


		54

As the economy deteriorated and investors increased their default frequency expectations, the high yield segment of the market performed poorly, negatively impacting the Fund’s exposure to that sector. Similarly, our slight overweight to the emerging markets sector detracted from performance as the global economic environment presented significant challenges for both corporate and sovereign issuers. In addition, our small overweight in the Commercial Mortgage-Backed Securities (CMBS) sector also hurt performance as fundamentals in that sector continued to deteriorate.

On a more positive note, the Fund’s duration (i.e. a measure of interest rate sensitivity) and yield curve positioning had a positive impact on performance by taking advantage of the flattening in the curve (i.e., short and long term interest rates moving closer together). The Fund’s duration was positioned long compared to the Index while rates declined in the latter months of the year.

What is the outlook?

The remarkable increase in credit spreads to Treasury securities in the fourth quarter reflects both the consequences of a broad based rush to deleverage among institutional investors as well as a repricing of risk in a world of rapidly collapsing real economic activity. As the first quarter of 2009 begins it is difficult to forecast whether either of these factors are behind us. The modest recovery in credit spreads in mid to late December in the wake of the U.S. Government’s infusion of capital in the banking system and the Federal Reserve System’s (the “Fed”) announcement of prospective purchases of key fixed income asset classes does suggest investors believe a safety net has been put in place beneath the bond market. However, even if we are past the extremes in valuations and volatility, earnings and capital adequacy concerns as well as uncertainty about the extent of the economic decline will keep risk aversion a key theme.

We expect the Fed to continue to pursue any and all policies to restart the credit markets and the economy. The anticipated result is that short-term interest rates will remain near zero for the foreseeable future and the Fed will be a buyer of all fixed income asset classes, from Mortgage-Backed Securities and Asset-Backed Securities to Treasuries.

In this environment we do not expect either interest rates or credit spreads to move decisively higher or lower from current levels. Rather, we expect ranges to prevail as the Fed holds rates low and investors digest what we expect to be a pattern of conflicting data. As a result, we believe duration opportunities will exist in the context of the market moving to the extremes of the range. With respect to credit sectors, we believe the best opportunities will be in high quality issuers whose balance sheets and cash flow best protect bondholder interests.

Diversification will also be an important theme as the economic crosscurrents of a severe recession raise the risks to over-concentrated positions.

Distribution by Credit Quality
as of December 31, 2008


	Percentage of
	Long-Term
Rating	Holdings

AAA		59.9	%

AA		4.8

A		16.0

BBB		12.7

BB		4.7

B		1.4

CCC		0.1

NR		0.4

Total		100.0	%

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Basic Materials		1.2	%

Capital Goods		1.0

Consumer Cyclical		2.2

Consumer Staples		2.1

Energy		2.0

Finance		22.3

Foreign Governments		5.5

General Obligations		0.2

Health Care		1.6

Services		2.0

Technology		7.3

Transportation		1.0

U.S. Government Agencies		35.5

U.S. Government Securities		3.8

Utilities		4.7

Short-Term Investments		6.0

Other Assets and Liabilities		1.6

Total		100.0	%

Distribution by Security Type
as of December 31, 2008


	Percentage of
Security Type	Net Assets

Asset & Commercial Mortgage Backed Securities		9.7	%

Corporate Bonds: Investment Grades		36.8

Corporate Bonds: Non-Investment Grades		2.7

Municipal Bonds		0.2

Senior Floating Rate Interests: Investment Grades		0.4

Senior Floating Rate Interests: Non-Investment Grades		3.3

U.S. Government Agencies		35.5

U.S. Government Securities		3.8

Short-Term Investments		6.0

Other Assets and Liabilities		1.6

Total		100.0	%


		55

Hartford U.S. Government Securities HLS Fund inception 3/24/1987

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Barclays Capital Intermediate Government Bond Index is an unmanaged index of government bonds with maturities of between one and ten years.

Investment goal — Seeks to maximize total return while providing shareholders with a high level of current income consistent with prudent investment risk.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

U.S. Government Securities IA		-0.64	%		2.26	%		4.07	%

U.S. Government Securities IB		-0.89	%		2.00	%		3.81	%

Barclays Capital Intermediate Government Bond Index		10.43	%		5.30	%		5.74	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

How did the Fund perform?

The Class IA shares of Hartford U.S. Government Securities HLS Fund returned -0.64% for the twelve-month period ended December 31, 2008, underperforming the Barclays Capital Intermediate Government Bond Index, which returned 10.43% for the same period, and underperforming the return of the average fund in the Lipper General U.S. Government VP-UF Funds Category, a group of funds with investment strategies similar to those of the Fund, which returned 3.86%.

Why did the Fund perform this way?

A significant detractor to the Fund’s relative (i.e. performance of the Fund as measured against the benchmark) performance was out-of-benchmark sector allocations, particularly to mortgage related securities such as Commercial Mortgage Backed Securities (CMBS) and Asset Backed Securities (ABS).

The beginning of December saw unprecedented spread widening (i.e., increased credit spread or yield differential between Treasury securities and non-Treasury securities) in Asset Backed Securities (ABS) and Commercial Mortgage Backed Securities (CMBS), driven by the combination of a severe housing recession, a contraction of credit availability, and the forced deleveraging of risk by financial firms. Forces not dissimilar to these also pushed the entire U.S. economy into a severe recession. Although the Fund’s allocation to ABS- and CMBS- related securities was relatively small, these sectors resulted in a significant detraction in performance relative to the benchmark. Performance detractors were widespread, impacting all asset classes, including Residential Mortgage-backed Securities (RMBS), Government Agency debt and securities based on Small Business Administration (SBA) loans. As the seizing up of the capital markets and the resulting investor flight to quality ensued, interest rates moved to historically low levels. This provided an environment for Treasury securities to end the year outperforming all other asset classes.

In addition, although the Fund’s duration positioning (i.e., a measure of interest rate sensitivity) detracted from performance, the Fund’s yield curve positioning contributed a positive impact on overall performance, particularly in the beginning of the year by taking advantage of a steepening yield curve (i.e., short and long-term interest rates moving further apart).


		56

What is the outlook?

In an effort to stem the continued downturn of the financial markets, the Federal Reserve System (“the “Fed”) is deploying a number of tools that it hopes will provide stimulus. These efforts include a commitment to purchase $500 billion of Fannie Mae and Freddie Mac Agency Mortgage Backed Securities (MBS), as well as a proposal to engage these Government Sponsored Enterprises (GSEs) to lower mortgage rates. This solution should serve to support current MBS dollar prices while maintaining low consumer interest rates. With more focused government intervention expected as the new administration takes office, a continued flexibility will be required in order to respond to changes in the markets. Specifically, due to continuing economic uncertainty, high price volatility remains likely in various other spread (i.e., non-Treasury) sectors. There exists strong anticipation that the U.S. Government will remain committed to fostering a low interest rate environment, while continuing its efforts to support the housing market. However, residential mortgage securities will continue to be plagued by uncertainty over prepayment and loss-severity as markets seek clarity over the final form the new legislation will take. The next twelve months should see a record supply of Treasury securities coinciding with increased government involvement. Accordingly, interest rates could see upward pressure should the economic downturn reach a bottom and begin to stabilize.

While 2008 saw the build up to a financial maelstrom the likes of which the U.S. economy hasn’t dealt with since the Great Depression, there is at least a realization of where recovery may start from. The bond markets, via loose credit offerings, provided an environment for an unparalleled acquisition of real estate assets. We believe that it is these very markets that will signify recovery as the deleveraging processes wind down, with any sustainable signs of progress possibly coming from the narrowing of credit-risk spreads, or the difference in price between various credits over Treasuries, and improving equity prices. If coordinated efforts are successful, we believe that this may serve as a catalyst of an increased availability of credit to both businesses and consumers, as well as the restoration of otherwise high-quality credits.


*	Effective June 1, 2008, Timothy Wilhide and John Hendricks assumed the portfolio management responsibilities previously held by Christopher Hanlon. Mr. Wilhide and Mr. Hendricks will manage the Fund alongside Russell M. Regenauer.

Distribution by Security Type
as of December 31, 2008


	Percentage of
Security Type	Net Assets

Asset & Commercial Mortgage Backed Securities		11.6	%

Purchased Options		0.1

U.S. Government Agencies		70.9

U.S. Government Securities		11.6

Short-Term Investments		5.2

Other Assets and Liabilities		0.6

Total		100.0	%

Distribution by Credit Quality
as of December 31, 2008


	Percentage of
	Long-Term
Rating	Holdings

AAA		96.8	%

AA		1.6

A		1.0

BBB		0.1

BB		0.2

B		0.1

CCC		0.2

Total		100.0	%


		57

Hartford Value HLS Fund inception 4/30/2001
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 4/30/01 - 12/31/08
Growth of $10,000 investment

Russell 1000 Value Index measures the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

Investment goal — Seeks long-term total return.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			Since Inception

Value IA		-34.03	%		0.95	%		0.56	%

Value IB		-34.20	%		0.70	%		0.32	%

Russell 1000 Value Index		-36.85	%		-0.79	%		0.12	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

How did the Fund perform?

The Class IA shares of the Hartford Value HLS Fund returned -34.03% for the twelve-month period ended December 31, 2008, outperforming its benchmark, the Russell 1000 Value Index, which returned -36.85% for the same period. The Fund also outperformed the -37.09% return of the average fund in the Lipper Large Cap Value VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The primary driver of the Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the benchmark was favorable stock selection, particularly within Financials, Information Technology, and Consumer Discretionary. Allocation among sectors, an outgrowth of the Fund’s bottom-up (i.e. stock by stock fundamental research) stock selection process, was slightly positive during the year due to underweight (i.e. the Fund’s sector position was less than the benchmark position) positions in Financials and Consumer Discretionary and an overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Consumer Staples.

Among the top contributors to benchmark-relative returns were our positions in ACE (Financials), Bristol-Myers Squibb (Health


		58

Care) and Abbott Labs (Health Care). Property/casualty insurance and reinsurance provider ACE benefited from troubles at rival AIG and favorable pricing, pushing its shares higher. Bristol-Myers Squibb, a global pharmaceutical firm, saw its shares rise when the company reported strong quarterly results and a positive outlook for 2009. Shares of Abbott Labs, a global pharmaceutical and diagnostic products company, gained on a strong quarterly earnings report based on robust results in psoriasis drug Humira and drug eluting stent Xience. Relative performance also benefited from our sale early in the year of AIG (Financials) and Wachovia (Financials) and from our underweight position in Citigroup (Financials), all of which saw sharp declines in their stock prices as the global financial crisis deepened. Top contributors to absolute (i.e. total return) returns included electronic payments network operator Visa and midatlantic banking company M&T Bank.

Top detractors from relative performance during the year included airline operator Delta Air Lines (Industrials), Wells Fargo (Financials), and Morgan Stanley (Financials). Following our purchase of the stock early in the year, Delta’s shares underperformed due to a dramatic rise in jet fuel prices and a further weakening U.S. economy. We eliminated the position prior to a rebound in the share price. Our underweight position in Wells Fargo during the year hurt us as investors favored the stock relative to other Financials companies given its AAA-credit rating. Shares of global financial services firm Morgan Stanley fell as investors reduced holdings of Financials companies in the face of the ongoing credit and liquidity crisis. We avoided Johnson & Johnson (Health Care) and Procter & Gamble (Consumer Staples) in favor of companies that we believed have better fundamentals. However, these stocks performed better than most during the year, which negatively impacted our benchmark-relative returns. Top detractors from absolute returns were Bank of America, General Electric, and Goldman Sachs.

What is the outlook?

Credit market and banking concerns led to further economic distress in the industrial and commercial sectors as 2008 came to a close. This distress was reflected in the market’s slide as investors grew more uncertain about the depth and duration of the downturn. Central banks and governments are throwing every relief tool into the mix. These actions are likely to have a beneficial effect over the short term, but their long-term impact is still unknown.

We believe that equity markets incorporated a deep recession into valuations over the recent period. Prices and valuations consequently began to approach attractive levels, even given a continuing decline in the economy. Accordingly, we reduced our positions in some of the more defensive names, such as Utilities, Health Care, and Consumer Staples stocks, while we increased our positions in Industrials, Consumer Discretionary, and Financials.


*	As disclosed in the Fund’s prospectus, as of July 1, 2008, John R. Ryan is no longer involved in the management of the Fund. Mr. Reckmeyer, Ms. Grimes, and Mr. Link have succeeded Mr. Ryan in the management of the Fund. All three portfolio managers have been long standing members of the Value team and have worked closely with Mr. Ryan.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		5.6	%

Capital Goods		8.3

Commercial & Professional Services		1.3

Diversified Financials		8.5

Energy		15.1

Food & Staples Retailing		5.3

Food, Beverage & Tobacco		6.1

Health Care Equipment & Services		4.0

Household & Personal Products		1.6

Insurance		5.4

Materials		3.3

Media		3.0

Pharmaceuticals, Biotechnology & Life Sciences		6.7

Real Estate		1.2

Retailing		3.3

Semiconductors & Semiconductor Equipment		1.6

Software & Services		1.6

Technology Hardware & Equipment		5.2

Telecommunication Services		5.2

Utilities		6.4

Short-Term Investments		1.4

Other Assets and Liabilities		(0.1	)

Total		100.0	%


		59

Hartford Value Opportunities HLS Fund inception 5/1/1996
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 1000 Value Index measures the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values.

Russell 3000 Value Index is an unmanaged index measuring the performance of those Russell 3000 Index companies with lower price-to-book ratios and lower forecasted growth values.

Investment goal — Seeks capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Value Opportunities IA		-41.06	%		-3.28	%		1.27	%

Value Opportunities IB		-41.21	%		-3.52	%		1.01	%

Russell 1000 Value Index		-36.85	%		-0.79	%		1.36	%

Russell 3000 Value Index		-36.25	%		-0.72	%		1.69	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

David R. Fassnacht, CFA	James N. Mordy	David W. Palmer, CFA
Senior Vice President, Partner	Senior Vice President, Partner	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Value Opportunities HLS Fund returned -41.06% for the one year period ended December 31, 2008, underperforming its benchmark, the Russell 3000 Value Index, which returned -36.25% for the same period. The Fund also underperformed the -36.78% return of the average fund in the Lipper Multi-Cap Value VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

A tide of risk aversion swept through the equity markets during the second half of the year on the waves of worry about access to credit, home price depreciation and falling economic activity. In this environment, the Russell 3000 Index returned -37% during the period, with value stocks, as measured by the Russell 3000 Value Index -36%, outperforming growth stocks, as measured by the Russell 3000 Growth Index -38%, by 220 basis points. Small cap, mid cap and large cap stocks all struggled during the period. The Russell 2000 Index, a measure of small cap stocks, returned -34%, the S&P 400 MidCap Index returned -36% and the S&P 500 Index returned -37%. All ten broad economic sectors within the Russell 3000 Value Index suffered steep declines, with Consumer Staples declining the least.

In general, stocks with low price to book valuations, high debt levels, and those which are more volatile suffered the most. Historically, these conditions have been proven to be difficult for our contrarian, value-oriented investment strategy.

Stock selection was the primary driver of the Fund’s relative (i.e. performance of the Fund as measured against the benchmark) underperformance and was particularly weak in Energy, Consumer Staples and Financials. Overall sector allocation also detracted modestly from the Fund’s performance. The Fund’s overweight (i.e. the Fund’s sector position was greater than the benchmark position) position in Information Technology and underweight (i.e. the Fund’s sector position was less than the


		60

benchmark position) positions in Energy and Utilities hurt relative performance; however, the Fund’s underweight position in Financials and its overweight position in Health Care helped relative performance.

The largest detractors from benchmark relative performance were Royal Bank of Scotland (Financials), Ambac Financial (Financials), and Exxon Mobil (Energy).

Financial Services stocks faced significant turmoil during the period resulting from heightened fear and eventually the seizure of the credit markets. This credit crisis resulted in swift and unprecedented action by the U.S. Federal government to keep the capital markets functioning. During this time, several of our financial holdings were negatively impacted. Shares of Royal Bank of Scotland fell as losses on asset-backed securities mounted, and the bank was forced to raise new equity to shore up its slim capital base. Shares in bond insurer Ambac plummeted early in the year, as guarantees it had written on mortgages and CDOs required highly-dilutive fresh capital which exceeded our expectations.

The Fund’s underweight position in integrated oil and natural gas company Exxon Mobil hurt relative performance, as the stock became a safe haven for investors fleeing the price declines elsewhere in the energy and commodity sectors. By year-end, this trend had taken ExxonMobil to nearly 8% of the Fund’s benchmark, a level not seen or sustained by any company in recent memory.

Bank of America was the largest detractor on an absolute (i.e. total return) basis. The bank’s shares declined due to concerns about its own portfolios of home equity and credit card loans, as well as the quality of assets acquired in the Countrywide Financial and Merrill Lynch deals. Another large detractor from absolute returns was oil and natural gas producer Newfield Exploration, which suffered as oil and gas prices fell precipitously from their mid-year peaks.

The largest contributors to relative performance included Delta Air Lines (Industrials), American International Group (Financials) and Comcast (Consumer Discretionary). Delta Airlines benefited from lower jet fuel prices during the period and the industry’s capacity curtailment ahead of weaker demand. Our exit strategy for AIG was well-timed: we eliminated our position ahead of the precipitous decline in the company’s shares, which resulted from liquidity constraints and credit rating downgrades, and eventually led to an unprecedented government bailout of the firm. Shares of Comcast continued to outperform due to solid operating results despite a challenging economic environment.

Other large contributors to absolute returns included health care services provider UnitedHealth Group and U.S. coal producer Arch Coal.

What is the outlook?

Credit markets have frozen globally, and policy makers are scrambling to come up with measures to restore confidence in the battered financial system. A combination of more rescue packages, unconventional monetary policies by the Federal Reserve Bank and world-wide rate cuts should succeed in reviving the funding-starved credit system. Still, these measures will not prevent a global recession from unfolding. We believe the unwinding of leverage will be a multi-year event, and any recovery next year will likely be followed by a period of sub-trend growth.

Amid the turmoil, we continue to analyze and select investments for the Fund which we believe offer outsized reward in return for the risks accepted. We believe we have positioned the Fund in companies with the liquidity to survive the crisis period and the ability to demonstrate material upside potential when economic fundamentals improve. In that context, we have emphasized technology companies — many with net cash balance sheets — cable companies, and insurers, relative to our benchmark. As prices have plummeted, we have added to certain Energy and Materials names while reducing exposure to regional banks.

At the end of the period, the Fund was most overweight Information Technology and Health Care, and most underweight Telecommunication Services and Utilities, relative to the Russell 3000 Value Index.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.7	%

Capital Goods		6.5

Consumer Durables & Apparel		1.0

Consumer Services		0.4

Diversified Financials		11.1

Energy		14.4

Food & Staples Retailing		0.4

Food, Beverage & Tobacco		7.3

Health Care Equipment & Services		6.5

Insurance		10.0

Materials		4.9

Media		5.3

Pharmaceuticals, Biotechnology & Life Sciences		8.7

Real Estate		0.6

Retailing		1.7

Semiconductors & Semiconductor Equipment		1.2

Software & Services		4.0

Technology Hardware & Equipment		6.7

Transportation		5.0

Utilities		2.0

Short-Term Investments		1.4

Other Assets and Liabilities		0.2

Total		100.0	%


		61

Hartford Advisers HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 68.1%
		Automobiles & Components — 0.3%
	591	Honda Motor Co., Ltd.	$	12,567
		Banks — 2.9%
	768	Banco Itau Holding Financeira S.A. ADR		8,904
	5,123	National City Corp.		9,273
	597	Standard Chartered plc		7,747
	4,194	Washington Mutual, Inc. Private Placement (A)(H)		81
	3,042	Wells Fargo & Co.		89,691

				115,696

		Capital Goods — 3.5%
	511	Cummins, Inc.		13,664
	4,592	General Electric Co.		74,397
	742	Honeywell International, Inc.		24,344
	329	Siemens AG ADR		24,914

				137,319

		Commercial & Professional Services — 0.3%
	966	Monster Worldwide, Inc. (D)		11,675
		Diversified Financials — 7.9%
	691	Ameriprise Financial, Inc.		16,142
	3,458	Bank of America Corp.		48,681
	1,850	Citigroup, Inc.		12,416
	2,785	Discover Financial Services, Inc.		26,543
	575	Goldman Sachs Group, Inc.		48,558
	3,049	Invesco Ltd.		44,020
	2,785	JP Morgan Chase & Co.		87,805
	1,935	UBS AG ADR (D)		27,665

				311,830

		Energy — 9.5%
	803	Cameco Corp.		13,847
	257	Canadian Natural Resources Ltd. ADR		10,259
	360	Consol Energy, Inc.		10,283
	216	EnCana Corp.		10,040
	235	EOG Resources, Inc.		15,646
	1,251	Exxon Mobil Corp.		99,859
	1,037	Hess Corp.		55,635
	1,415	Marathon Oil Corp.		38,714
	1,402	OAO Gazprom Class S ADR		19,982
	233	Occidental Petroleum Corp.		13,984
	1,200	Petroleo Brasileiro S.A. ADR		29,381
	363	Reliance Industries GDR (I)		18,385
	299	Schlumberger Ltd.		12,657
	440	Suncor Energy, Inc. ADR		8,572
	474	XTO Energy, Inc.		16,707

				373,951

		Food & Staples Retailing — 3.3%
	1,594	Safeway, Inc.		37,882
	1,406	Supervalu, Inc.		20,526
	1,023	Walgreen Co.		25,228
	861	Wal-Mart Stores, Inc.		48,268

				131,904

		Food, Beverage & Tobacco — 2.4%
	5	Japan Tobacco, Inc.		15,732
	1,145	PepsiCo, Inc.		62,695
	619	Unilever N.V. NY Shares ADR		15,189

				93,616

		Health Care Equipment & Services — 3.2%
	101	Intuitive Surgical, Inc. (D)		12,775
	359	McKesson Corp.		13,908
	1,108	Medtronic, Inc.		34,804
	2,442	UnitedHealth Group, Inc.		64,965

				126,452

		Household & Personal Products — 0.4%
	225	Procter & Gamble Co.		13,934
		Insurance — 0.5%
	328	ACE Ltd.		17,355
	58	PartnerRe Ltd.		4,148

				21,503

		Materials — 2.0%
	1,089	Cliff’s Natural Resources, Inc.		27,887
	634	Freeport-McMoRan Copper & Gold, Inc.		15,493
	155	Monsanto Co.		10,876
	364	Potash Corp. of Saskatchewan, Inc.		26,615

				80,871

		Media — 3.5%
	4,138	Comcast Corp. Class A		69,846
	3,484	Time Warner, Inc.		35,050
	1,767	Viacom, Inc. Class B (D)		33,685

				138,581

		Pharmaceuticals, Biotechnology & Life Sciences — 7.5%
	422	AstraZeneca plc		17,533
	558	Bristol-Myers Squibb Co.		12,981
	539	Daiichi Sankyo Co., Ltd.		12,746
	36	Eisai Co., Ltd.		1,493
	3,161	Elan Corp. plc ADR (D)		18,964
	780	Eli Lilly & Co.		31,395
	806	Merck & Co., Inc.		24,499
	2,607	Schering-Plough Corp.		44,397
	1,200	Shionogi & Co., Ltd.		30,953
	486	UCB S.A.		15,945
	600	Vertex Pharmaceuticals, Inc. (D)		18,228
	1,743	Wyeth		65,376

				294,510

		Retailing — 4.0%
	564	Bed Bath & Beyond, Inc. (D)		14,329
	596	Best Buy Co., Inc.		16,765
	11,241	Buck Holdings L.P. (A)(D)(H)		10,825
	1,176	Kohl’s Corp. (D)		42,575
	1,049	Lowe’s Co., Inc.		22,583
	884	Nordstrom, Inc.		11,770
	2,159	Staples, Inc.		38,697

				157,544

		Semiconductors & Semiconductor Equipment — 3.2%
	2,797	Applied Materials, Inc.		28,337
	1,191	Lam Research Corp. (D)		25,342
	3,615	Maxim Integrated Products, Inc.		41,281
	2,048	Texas Instruments, Inc.		31,782

				126,742

		Software & Services — 4.1%
	475	Accenture Ltd. Class A		15,579
	1,859	Electronic Arts, Inc. (D)		29,822
	132	Google, Inc. (D)		40,517
	3,098	Microsoft Corp.		60,221

The accompanying notes are an integral part of these financial statements.


			Market
Shares			Value (W)
COMMON STOCK — (continued)

		Software & Services — (continued)
	1,159	Western Union Co.	$	16,613

				162,752

		Technology Hardware & Equipment — 5.6%
	568	Apple, Inc. (D)		48,479
	4,996	Cisco Systems, Inc. (D)		81,436
	3,183	Flextronics International Ltd. (D)		8,148
	1,763	NetApp, Inc. (D)		24,631
	1,160	Qualcomm, Inc.		41,566
	419	Research In Motion Ltd. (D)		16,987
	68	Seagate Technology		302

				221,549

		Telecommunication Services — 0.9%
	2,351	MetroPCS Communications, Inc. (D)		34,905
		Transportation — 3.1%
	3,859	Delta Air Lines, Inc. (D)		44,228
	553	FedEx Corp.		35,462
	799	United Parcel Service, Inc. Class B		44,056

				123,746

		Total common stock (cost $3,948,400)	$	2,691,647


WARRANTS — 0.0%
		Banks — 0.0%
	524	Washington Mutual, Inc. Private Placement (A)(H)	$	—

		Total warrants (cost $ — )	$	—


Principal
Amount

ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 2.2%
		Finance — 2.2%
		Banc of America Commercial Mortgage, Inc.
$	4,590	5.18%, 09/10/2047 (L)	$	3,762
		Citibank Credit Card Issuance Trust
	11,945	5.65%, 09/20/2019		9,753
		Commercial Mortgage Pass-Through Certificates
	5,000	5.12%, 06/10/2044		4,095
		Countrywide Home Loans, Inc.
	3,141	5.25%, 11/25/2035 (L)		1,636
		Credit Suisse Mortgage Capital Certificates
	7,365	5.47%, 09/15/2039		5,419
		Ford Credit Automotive Owner Trust
	6,236	5.26%, 10/15/2010		6,183
		GSR Mortgage Loan Trust
	6,788	5.78%, 05/25/2047 (L)		3,490
		Harley-Davidson Motorcycle Trust
	12,375	5.21%, 06/17/2013		11,841
		JP Morgan Chase Commercial Mortgage Security Corp.
	3,500	5.88%, 04/15/2045 (L)		2,792
		Marriott Vacation Club Owner Trust
	1,338	5.36%, 10/20/2028 (I)		1,088
		Merrill Automotive Trust Securitization
	796	5.43%, 01/15/2010		796
		Merrill Lynch Mortgage Trust
	5,000	5.05%, 07/12/2038		4,076
		Residential Accredit Loans, Inc.
	8,773	5.23%, 02/25/2035 (L)		4,579
		Sequoia Mortgage Trust
	9,513	5.81%, 02/20/2047 (L)		5,228
		USAA Automotive Owner Trust
	11,285	4.50%, 10/15/2013		10,084
		Wells Fargo Mortgage Backed Securities Trust
	7,331	4.55%, 03/25/2035 (L)		4,817
	10,488	5.54%, 04/25/2036 (L)		5,859
	5,071	6.03%, 09/25/2036 (L)		3,025

		Total asset & commercial mortgage backed securities (cost $120,379)	$	88,523


CORPORATE BONDS: INVESTMENT GRADE — 14.5%
		Capital Goods — 0.1%
		Xerox Corp.
$	6,000	5.50%, 05/15/2012	$	5,028
		Consumer Cyclical — 0.6%
		DaimlerChrysler NA Holdings Corp.
	5,400	5.88%, 03/15/2011		4,709
	9,550	6.50%, 11/15/2013		7,449
		Federated Retail Holdings, Inc.
	3,084	5.90%, 12/01/2016		1,873
		SCL Term Aereo Santiago S.A.
	9,504	6.95%, 07/01/2012 (I)		10,342

				24,373

		Consumer Staples — 0.9%
		Coca-Cola Enterprises, Inc.
	500	8.50%, 02/01/2022		584
		ConAgra Foods, Inc.
	6,537	7.88%, 09/15/2010		6,764
		PepsiAmericas, Inc.
	10,865	6.38%, 05/01/2009		10,917
		Procter & Gamble Co.
	11,715	9.36%, 01/01/2021		14,532
		Weyerhaeuser Co.
	2,975	7.38%, 03/15/2032		1,931

				34,728

		Energy — 0.4%
		Atmos Energy Corp.
	5,875	6.35%, 06/15/2017		5,205
		Weatherford International Ltd.
	11,000	5.95%, 06/15/2012		10,453

				15,658

		Finance — 8.7%
		Ace INA Holdings, Inc.
	700	5.88%, 06/15/2014		652
		American Express Centurion Bank
	12,670	6.00%, 09/13/2017		11,866
		American International Group, Inc.
	1,200	6.25%, 03/15/2037		449
		AXA Financial, Inc.
	15,000	7.00%, 04/01/2028		12,897
		Berkshire Hathaway Finance Corp.
	5,500	4.85%, 01/15/2015		5,509
		Brandywine Operating Partnership
	9,585	6.00%, 04/01/2016		5,229

The accompanying notes are an integral part of these financial statements.

Hartford Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Finance — (continued)
		Capital One Bank
$	3,750	6.50%, 06/13/2013	$	3,342
		Capital One Capital IV
	4,125	6.75%, 02/17/2037		1,883
		Capital One Financial Corp.
	3,900	5.70%, 09/15/2011		3,637
		Cincinnati Financial Corp.
	10,000	6.92%, 05/15/2028		8,651
		CIT Group, Inc.
	5,995	7.63%, 11/30/2012		5,061
		Citigroup, Inc.
	6,500	3.63%, 02/09/2009		6,467
	8,800	6.00%, 10/31/2033		7,742
	1,000	6.50%, 01/18/2011		1,004
		COX Communications, Inc.
	9,000	5.45%, 12/15/2014		7,871
		Credit Suisse First Boston USA, Inc.
	8,920	4.88%, 01/15/2015		8,056
		Developers Diversified Realty Corp.
	7,900	5.38%, 10/15/2012		3,313
		Discover Financial Services, Inc.
	7,220	6.45%, 06/12/2017		5,066
		Eaton Vance Corp.
	3,180	6.50%, 10/02/2017		2,818
		Everest Reinsurance Holdings, Inc.
	4,525	5.40%, 10/15/2014		3,089
		General Electric Capital Corp.
	12,000	6.75%, 03/15/2032		12,759
		Genworth Financial, Inc.
	8,000	6.15%, 11/15/2066		758
		Goldman Sachs Group, Inc.
	11,000	5.30%, 02/14/2012		10,382
	6,000	5.63%, 01/15/2017		5,155
	6,000	6.45%, 05/01/2036		4,660
		Health Care Properties
	9,780	6.00%, 01/30/2017		4,713
		HSBC Finance Corp.
	12,500	5.50%, 01/19/2016		11,871
		International Lease Finance Corp.
	10,500	5.00%, 09/15/2012		7,236
	6,350	5.63%, 09/15/2010		4,991
		Jackson National Life Insurance Co.
	12,650	8.15%, 03/15/2027 (I)		12,143
		John Deere Capital Corp.
	8,320	4.88%, 10/15/2010		8,397
		JP Morgan Chase & Co.
	10,375	5.13%, 09/15/2014		10,054
		KeyCorp Capital II
	750	6.88%, 03/17/2029		575
		Kimco Realty Corp.
	7,880	5.78%, 03/15/2016		5,000
		Liberty Mutual Group, Inc.
	8,750	5.75%, 03/15/2014 (I)		5,656
		Liberty Property L.P.
	1,325	6.63%, 10/01/2017		876
		Merrill Lynch & Co., Inc.
	11,000	5.00%, 02/03/2014		10,665
	1,000	6.40%, 08/28/2017		1,002
		Morgan Stanley
	13,000	5.38%, 10/15/2015		11,191
		National City Corp.
	4,250	6.88%, 05/15/2019		3,408
		New England Mutual Life Insurance Co.
	30,000	7.88%, 02/15/2024 (I)		27,382
		Prologis Trust
	6,500	5.63%, 11/15/2016		3,118
		Prudential Financial, Inc.
	8,000	5.50%, 03/15/2016		6,446
	3,500	5.80%, 06/15/2012		2,640
		Realty Income Corp.
	4,830	6.75%, 08/15/2019		2,795
		Republic New York Capital I
	500	7.75%, 11/15/2006		510
		Santander Central Hispano Issuances Ltd.
	1,250	7.63%, 11/03/2009		1,226
		Simon Property Group L.P.
	15,100	6.10%, 05/01/2016		9,649
		Sovereign Bancorp, Inc.
	4,795	8.75%, 05/30/2018		4,737
		Sovereign Capital Trust IV
	7,250	7.91%, 06/13/2036		4,803
		Torchmark Corp.
	14,600	8.25%, 08/15/2009		14,586
		UnitedHealth Group, Inc.
	2,500	5.50%, 11/15/2012		2,278
		Wachovia Corp.
	10,000	5.25%, 08/01/2014		9,315
		WEA Finance LLC
	5,000	7.13%, 04/15/2018 (I)		3,547
		Wells Fargo Bank NA
	13,000	4.75%, 02/09/2015		13,158

				342,284

		Health Care — 0.7%
		Becton, Dickinson & Co.
	9,000	6.70%, 08/01/2028		9,580
		CVS Corp.
	7,725	6.13%, 08/15/2016		7,484
		Schering-Plough Corp.
	9,000	5.55%, 12/01/2013		9,066

				26,130

		Services — 0.2%
		Comcast Corp.
	8,000	5.90%, 03/15/2016		7,638
		Wyndham Worldwide Corp.
	3,100	6.00%, 12/01/2016		1,250

				8,888

		Technology — 1.3%
		AT&T, Inc.
	2,510	6.80%, 05/15/2036 #		2,838
		BellSouth Telecommunications
	650	7.00%, 12/01/2095		509
		Fiserv, Inc.
	6,400	6.13%, 11/20/2012		6,013
		General Electric Co.
	12,925	5.00%, 02/01/2013		13,071
		Intuit, Inc.
	7,900	5.40%, 03/15/2012		7,179

The accompanying notes are an integral part of these financial statements.


Principal			Market
Amount			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Technology — (continued)
		Time Warner Cable, Inc.
$	4,580	5.85%, 05/01/2017	$	4,184
		Verizon Communications, Inc.
	5,000	5.35%, 02/15/2011		5,030
		Verizon Global Funding Corp.
	500	7.25%, 12/01/2010		524
	9,500	7.75%, 12/01/2030		10,535

				49,883

		Transportation — 0.3%
		Continental Airlines, Inc.
	4,140	5.98%, 04/19/2022		2,774
		Southwest Airlines Co.
	8,700	5.75%, 12/15/2016		6,110
	3,393	6.15%, 08/01/2022		2,477

				11,361

		Utilities — 1.3%
		Consolidated Edison Co. of NY
	4,605	5.30%, 12/01/2016		4,503
		Enel Finance International
	4,045	6.80%, 09/15/2037 (I)		3,106
		Indianapolis Power and Light
	8,000	6.60%, 06/01/2037 (I)		7,763
		Kinder Morgan Energy Partners L.P.
	10,000	6.95%, 01/15/2038		8,088
		MidAmerican Energy Co.
	6,000	5.65%, 07/15/2012		6,010
		Northern Border Pipeline Co.
	9,285	7.75%, 09/01/2009		9,341
		Southern California Edison Co.
	8,000	5.55%, 01/15/2037		8,426
		Taqa Abu Dhabi National Energy Co.
	3,200	5.62%, 10/25/2012 (I)		2,904
	3,335	5.88%, 10/27/2016 (I)		2,725
		TransCanada Pipelines Ltd.
	750	6.49%, 01/21/2009		750

				53,616

		Total corporate bonds: investment grade (cost $665,706)	$	571,949


MUNICIPAL BONDS — 0.5%
		General Obligations — 0.5%
		Oregon School Boards Association, Taxable Pension
$	10,000	4.76%, 06/30/2028	$	8,749
		State of Illinois, Taxable Pension
	10,000	5.10%, 06/01/2033		8,785

		Total municipal bonds (cost $19,888)	$	17,534


U.S. GOVERNMENT AGENCIES — 4.4%
		Federal Home Loan Mortgage Corporation — 1.1%
		Mortgage Backed Securities:
$	43,450	4.50%, 2036 (Q)	$	44,020
		Federal National Mortgage Association — 0.5%
		Mortgage Backed Securities:
	21,735	4.50%, 2039 (Q)		22,027
	101	6.50%, 2036 — 2038		105

				22,132

		Government National Mortgage Association — 1.6%
		Mortgage Backed Securities:
	38,456	5.50%, 2037		39,696
	7,553	6.00%, 2024 — 2035		7,836
	2,601	6.50%, 2026 — 2035		2,731
	9,643	7.00%, 2031 — 2033		10,115
	1,149	8.00%, 2026 — 2031		1,223
	408	8.00%, 2030 #		435
	93	9.00%, 2016 — 2022		99
		Remic — Pac’s:
	90	7.50%, 2035		94

				62,229

		Other Government Agencies — 1.2%
		Small Business Administration Participation Certificates:
	32,704	8.95%, 2022		46,534

		Total U.S. government agencies (cost $162,451)	$	174,915


U.S. GOVERNMENT SECURITIES — 9.0%
		Other Direct Federal Obligations — 3.6%
		Federal Financing Corporation:
$	6,500	5.24%, 2013	$	5,774
	11,117	5.25%, 2013		9,826

				15,600

		Tennessee Valley Authority:
	64,300	4.38%, 2015		69,650
	50,000	6.00%, 2013		56,672

				126,322

				141,922

		U.S. Treasury Securities — 5.4%
		U.S. Treasury Bonds:
	33,650	6.25%, 2023		45,896
		U.S. Treasury Notes:
	42,000	2.38%, 2010		43,275
	3,300	3.50%, 2010		3,417
	60,000	3.88%, 2018 #		68,419
	40,135	4.13%, 2010		42,513
	9,950	4.75%, 2012 #		11,137

				168,761

				214,657

		Total U.S. government securities (cost $323,801)	$	356,579

		Total long-term investments (cost $5,240,625)	$	3,901,147


SHORT-TERM INVESTMENTS — 0.8%
		Repurchase Agreements — 0.8%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $24, collateralized by U.S. Treasury Note 4.50%, 2009, value of $24)
$	24	0.03% dated 12/31/2008	$	24
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $10,208, collateralized by FNMA 5.00%, 2035 — 2038, value of $10,412)
	10,208	0.08% dated 12/31/2008		10,208

The accompanying notes are an integral part of these financial statements.

Hartford Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $449, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $458)
$	449	0.07% dated 12/31/2008			$	449
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,872, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $10,069)
	9,871	0.10% dated 12/31/2008				9,871
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,086, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $9,268)
	9,086	0.05% dated 12/31/2008				9,086
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,234, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $1,259)
	1,234	0.07% dated 12/31/2008				1,234

		Total short-term investments (cost $30,872)			$	30,872

		Total investments (cost $5,271,497) (C)	99.5	%	$	3,932,019
		Other assets and liabilities	0.5	%		21,506

		Total net assets	100.0	%	$	3,953,525


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 9.72% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $5,363,789 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	6,324
Unrealized Depreciation		(1,438,094	)

Net Unrealized Depreciation	$	(1,431,770	)


#		This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.

(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $10,906, which represents 0.28% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $95,041, which represents 2.40% of total net assets.

(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(Q)		The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2008 was $65,622.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
06/2007		11,241	Buck Holdings L.P.	$	11,253
04/2008		524	Washington Mutual, Inc. Private Placement Warrants		—
04/2008		4,194	Washington Mutual, Inc. Private Placement		36,700


		The aggregate value of these securities at December 31, 2008 was $10,906 which represents 0.28% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Japanese Yen (Sell)	$	1,262	$	1,266		01/05/09	$	4
Japanese Yen (Sell)		1,728		1,740		01/06/09		12
Japanese Yen (Sell)		1,914		1,923		01/07/09		9

							$	25


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Capital Appreciation HLS Fund

Schedule of Investments

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 96.5%
		Automobiles & Components — 1.9%
	119	Denso Corp.	$	2,020
	30,403	Ford Motor Co. (D)		69,623
	108	Gentex Corp.		956
	1,239	Michelin (C.G.D.E.) Class B		65,792
	1,068	TRW Automotive Holdings Corp. (D)		3,846

				142,237

		Banks — 2.6%
	153	Banco Itau Holding Financeira S.A. ADR		1,777
	1,029	HSBC Holding plc		10,221
	68	M&T Bank Corp.		3,881
	7,526	Mitsubishi UFJ Financial Group, Inc.		47,266
	122	Signature Bank (D)		3,494
	4,901	Standard Chartered plc		63,633
	101	US Bancorp		2,521
	469	Washington Mutual, Inc. Private Placement (A)(H)		9
	2,010	Wells Fargo & Co.		59,236

				192,038

		Capital Goods — 9.8%
	388	ABB Ltd. ADR		5,830
	165	Aecom Technology Corp. (D)		5,083
	86	Alliant Techsystems, Inc. (D)		7,350
	200	Babcock & Brown Air Ltd.		1,355
	2,000	Boeing Co.		85,340
	1,514	Capstone Turbine Corp. (D)		1,272
	304	Caterpillar, Inc.		13,562
	414	Cummins, Inc.		11,077
	143	Danaher Corp.		8,073
	319	Deere & Co.		12,239
	263	Dover Corp.		8,671
	81	Eaton Corp.		4,041
	278	Emerson Electric Co.		10,192
	190	Energy Conversion Devices, Inc. (D)		4,793
	311	Energy Focus, Inc. (D)		357
	290	First Solar, Inc. (D)		39,982
	100	Flowserve Corp.		5,171
	153	Fluor Corp.		6,850
	84	General Dynamics Corp.		4,815
	11,593	General Electric Co.		187,796
	205	Genesis Lease Ltd. ADR		579
	55	Granite Construction, Inc.		2,429
	8,159	Hansen Transmissions (D)		13,716
	393	Honeywell International, Inc.		12,889
	280	Ingersoll-Rand Co. Class A		4,865
	78	Jacobs Engineering Group, Inc. (D)		3,742
	217	Joy Global, Inc.		4,960
	199	Lockheed Martin Corp.		16,732
	433	Mitsui & Co., Ltd.		4,448
	259	Mueller Water Products, Inc.		2,173
	152	Pall Corp.		4,330
	143	Precision Castparts Corp.		8,488
	2,806	Raytheon Co.		143,233
	402	Siemens AG		30,466
	142	Sterling Construction Co., Inc. (D)		2,629
	1	Sunpower Corp. Class A (D)		18
	675	Sunpower Corp. Class B (D)		20,547
	1,000	Suntech Power Holdings Co., Ltd. ADR (D)		11,700
	27	United Technologies Corp.		1,462
	123	Vestas Wind Systems A/S (D)		7,247

				720,502

		Commercial & Professional Services — 0.5%
	436	American Ecology Corp.		8,814
	340	Covanta Holding Corp. (D)		7,469
	240	Mobile Mini, Inc. (D)		3,467
	1,408	Monster Worldwide, Inc. (D)		17,028

				36,778

		Consumer Durables & Apparel — 0.7%
	1,268	Liz Claiborne, Inc.		3,297
	183	MDC Holdings, Inc.		5,557
	2,900	Newell Rubbermaid, Inc.		28,362
	93	NIKE, Inc. Class B		4,728
	8	NVR, Inc. (D)		3,445
	219	Pool Corp.		3,941

				49,330

		Consumer Services — 0.4%
	51	Apollo Group, Inc. Class A (D)		3,869
	185	Ctrip.com International Ltd. ADR		4,396
	83	Darden Restaurants, Inc.		2,339
	38	ITT Educational Services, Inc. (D)		3,647
	14,416	Shangri-La Asia Ltd.		16,675

				30,926

		Diversified Financials — 8.6%
	343	Ameriprise Financial, Inc.		8,001
	6,362	Bank of America Corp.		89,577
	197	Capital One Financial Corp.		6,276
	883	CIT Group, Inc.		4,009
	8,583	Citigroup, Inc.		57,589
	528	Deutsche Boerse AG		38,404
	4,400	European Capital Ltd.		14,621
	1,854	Goldman Sachs Group, Inc.		156,515
	337	Invesco Ltd.		4,861
	618	JP Morgan Chase & Co.		19,484
	1,864	Julius Baer Holding Ltd.		72,104
	237	Moody’s Corp.		4,761
	2,742	Morgan Stanley		43,978
	1,422	Nasdaq Stock Market, Inc. (D)		35,142
	358	Oaktree Capital (D)(I)		6,802
	290	PennantPark Investment Corp.		1,045
	247	State Street Corp.		9,729
	531	TD Ameritrade Holding Corp. (D)		7,562
	1,118	UBS AG (D)		16,234
	2,178	UBS AG ADR (D)		31,146

				627,840

		Energy — 10.9%
	5,080	Acergy S.A.		29,470
	279	Apache Corp.		20,794
	143	Arena Resources, Inc. (D)		4,006
	241	Baker Hughes, Inc.		7,737
	142	Cabot Oil & Gas Corp.		3,692
	4,805	Cameco Corp.		82,887
	263	Canadian Natural Resources Ltd.		10,517
	139	Canadian Natural Resources Ltd. ADR		5,561
	151	Chesapeake Energy Corp.		2,447
	377	Consol Energy, Inc.		10,787

The accompanying notes are an integral part of these financial statements.

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Energy — (continued)
	63	Diamond Offshore Drilling, Inc.	$	3,733
	859	EnCana Corp.		39,903
	90	Exxon Mobil Corp.		7,177
	137	Forest Oil Corp. (D)		2,254
	5,211	Halliburton Co.		94,732
	592	Hess Corp.		31,743
	1,183	Lundin Petroleum Ab (D)		6,413
	80	Marathon Oil Corp.		2,181
	97	Massey Energy Co.		1,332
	600	National Oilwell Varco, Inc. (D)		14,671
	537	Newfield Exploration Co. (D)		10,614
	359	Noble Energy, Inc.		17,665
	2,313	OAO Gazprom Class S ADR		32,952
	1,412	Occidental Petroleum Corp.		84,694
	1,649	OMV AG		44,041
	367	Petroleo Brasileiro S.A. ADR		8,978
	93	Range Resources Corp.		3,195
	202	SBM Offshore N.V.		2,666
	145	Schlumberger Ltd.		6,134
	176	Smith International, Inc.		4,024
	447	Suncor Energy, Inc. ADR		8,713
	549	Talisman Energy, Inc.		5,483
	290	Total S.A.		16,025
	156	Total S.A. ADR		8,632
	59	Transocean, Inc. (D)		2,806
	319	Ultra Petroleum Corp. (D)		11,012
	1,961	Uranium One, Inc. (D)		2,884
	689	USEC, Inc. (D)		3,091
	3,768	Weatherford International Ltd. (D)		40,762
	116	Whiting Petroleum Corp. (D)		3,888
	2,694	XTO Energy, Inc.		95,004

				795,300

		Food & Staples Retailing — 0.5%
	95	Sysco Corp.		2,168
	610	Wal-Mart Stores, Inc.		34,174

				36,342

		Food, Beverage & Tobacco — 3.0%
	584	Altria Group, Inc.		8,794
	84	Campbell Soup Co.		2,512
	4,440	Chaoda Modern Agriculture		2,853
	3,322	Cosan Ltd. (D)		11,492
	2,925	Cosan S.A. Industria E Comercio (D)		14,202
	474	Dean Foods Co. (D)		8,511
	147	Groupe Danone		8,939
	645	Imperial Tobacco Group plc		17,485
	2	Japan Tobacco, Inc.		7,623
	191	Kellogg Co.		8,353
	15,122	Marine Harvest (D)		2,332
	276	Molson Coors Brewing Co.		13,512
	1,334	Nestle S.A.		52,715
	143	Nestle S.A. ADR		5,665
	259	PepsiCo, Inc.		14,169
	390	Philip Morris International, Inc.		16,973
	59	Ralcorp Holdings, Inc. (D)		3,428
	329	SABMiller plc		5,598
	516	Smithfield Foods, Inc. (D)		7,260
	393	Unilever N.V. NY Shares ADR		9,641

				222,057

		Health Care Equipment & Services — 6.3%
	1,741	ATS Medical, Inc. (D)		4,840
	146	Becton, Dickinson & Co.		9,978
	2,210	Boston Scientific Corp. (D)		17,106
	276	China Medical Technologies, Inc. ADR		5,596
	244	CIGNA Corp.		4,111
	1,004	Covidien Ltd.		36,354
	306	Humana, Inc. (D)		11,404
	62	Intuitive Surgical, Inc. (D)		7,931
	1,755	McKesson Corp.		67,998
	2,726	Medtronic, Inc.		85,645
	245	St. Jude Medical, Inc. (D)		8,069
	6,796	UnitedHealth Group, Inc.		180,778
	331	Varian Medical Systems, Inc. (D)		11,581
	474	Volcano Corp. (D)		7,109
	198	Zoll Medical Corp. (D)		3,742

				462,242

		Household & Personal Products — 0.7%
	1,934	Bare Escentuals, Inc. (D)		10,112
	143	Colgate-Palmolive Co.		9,788
	75	Herbalife Ltd.		1,619
	139	Kimberly-Clark Corp.		7,304
	101	L’Oreal S.A.		8,894
	243	Procter & Gamble Co.		15,041

				52,758

		Insurance — 5.2%
	4,950	ACE Ltd.		261,960
	102	Allied World Assurance Holdings Ltd.		4,129
	85	Chubb Corp.		4,320
	168	Everest Re Group Ltd.		12,822
	199	Fidelity National Financial, Inc.		3,523
	117	First American Financial Corp.		3,392
	410	Marsh & McLennan Cos., Inc.		9,960
	1,022	MetLife, Inc.		35,624
	66	Muenchener Rueckversicherungs-Gesellschaft AG		10,109
	63	PartnerRe Ltd.		4,497
	147	Platinum Underwriters Holdings Ltd.		5,300
	159	Reinsurance Group of America, Inc.		6,817
	252	Travelers Cos., Inc.		11,395
	132	W.R. Berkley Corp.		4,077

				377,925

		Materials — 4.7%
	175	Alcoa, Inc.		1,974
	1,472	Aracruz Celulose S.A. ADR		16,602
	317	BHP Billiton plc		6,236
	79	Celanese Corp.		978
	397	Cemex S.A. de C.V. ADR (D)		3,627
	595	Cliff’s Natural Resources, Inc.		15,240
	1,953	Companhia Vale do Rio Doce ADR		23,658
	307	CRH plc		7,921
	228	FMC Corp.		10,189
	280	Freeport-McMoRan Copper & Gold, Inc.		6,835
	58	Monsanto Co.		4,087
	437	Mosaic Co.		15,111
	64	Nucor Corp.		2,947
	382	Owens-Illinois, Inc. (D)		10,426
	898	Potash Corp. of Saskatchewan, Inc.		65,743
	1,492	Praxair, Inc.		88,589

The accompanying notes are an integral part of these financial statements.


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Materials — (continued)
	469	Rexam plc	$	2,435
	462	Rio Tinto plc		10,426
	554	Smurfit-Stone Container Corp. (D)		141
	356	Solutia, Inc. (D)		1,601
	74	Syngenta AG ADR		2,885
	5,407	Vedanta Resources plc		49,272

				346,923

		Media — 3.4%
	632	Comcast Corp. Class A		10,663
	716	Comcast Corp. Special Class A		11,555
	231	DreamWorks Animation SKG, Inc. (D)		5,840
	1,742	Focus Media Holding Ltd. ADR (D)		15,829
	30	Harvey Weinstein Co. Holdings Class A-1 (A)(D)(H)		8,195
	406	Marvel Entertainment, Inc. (D)		12,484
	7,800	News Corp. Class A		70,902
	384	R.H. Donnelley Corp. (D)		142
	78	Scripps Networks Interactive Class A		1,725
	1,140	Viacom, Inc. Class B (D)		21,727
	672	Virgin Media, Inc.		3,355
	3,832	Walt Disney Co.		86,955

				249,372

		Pharmaceuticals, Biotechnology & Life Sciences — 12.2%
	1,341	Abbott Laboratories		71,564
	146	Alkermes, Inc. (D)		1,556
	997	Amgen, Inc. (D)		57,577
	523	Amylin Pharmaceuticals, Inc. (D)		5,672
	294	AstraZeneca plc ADR		12,042
	141	Auxilium Pharmaceuticals, Inc. (D)		4,021
	1,505	Bristol-Myers Squibb Co.		34,981
	428	Charles River Laboratories International, Inc. (D)		11,211
	153	Cubist Pharmaceuticals, Inc. (D)		3,684
	2,792	Elan Corp. plc ADR (D)		16,750
	353	Eli Lilly & Co.		14,219
	546	Genentech, Inc. (D)		45,243
	371	Genzyme Corp. (D)		24,637
	107	Gilead Sciences, Inc. (D)		5,452
	212	Icon plc ADR (D)		4,166
	315	Impax Laboratories, Inc. (A)(D)(H)		2,520
	315	Johnson & Johnson		18,829
	155	Life Technologies Corp. (D)		3,615
	1,470	Merck & Co., Inc.		44,691
	4,433	Novavax, Inc. (D)		8,380
	179	PerkinElmer, Inc.		2,487
	320	Pharmaceutical Product Development, Inc.		9,269
	1,020	Roche Holding AG		157,636
	9,401	Schering-Plough Corp.		160,108
	21	Shionogi & Co., Ltd.		542
	3,382	Teva Pharmaceutical Industries Ltd. ADR		143,946
	61	Theravance, Inc. (D)		755
	125	UCB S.A.		4,098
	512	Wyeth		19,213

				888,864

		Real Estate — 0.5%
	192	Annaly Capital Management, Inc.		3,053
	323	British Land Co. plc		2,628
	1,887	Brookfield Asset Management, Inc.		28,821
	1,793	Eurocastle Investment Ltd.		562

				35,064

		Retailing — 4.5%
	253	Advance Automotive Parts, Inc.		8,510
	72	AutoZone, Inc. (D)		10,042
	120	Best Buy Co., Inc.		3,379
	402	Big Lots, Inc. (D)		5,826
	29,056	Buck Holdings L.P. (A)(D)(H)		27,980
	266	Dick’s Sporting Goods, Inc. (D)		3,757
	744	GameStop Corp. Class A (D)		16,115
	243	Gap, Inc.		3,255
	280	Home Depot, Inc.		6,455
	143	Industria de Diseno Textil S.A.		6,390
	391	Kohl’s Corp. (D)		14,156
	156	Limited Brands, Inc.		1,562
	429	Nordstrom, Inc.		5,710
	443	Nutri/System, Inc.		6,460
	550	OfficeMax, Inc.		4,199
	635	Priceline.com, Inc. (D)		46,738
	8,112	Staples, Inc.		145,368
	348	TJX Cos., Inc.		7,150
	248	Urban Outfitters, Inc. (D)		3,711

				326,763

		Semiconductors & Semiconductor Equipment — 1.5%
	788	Altera Corp.		13,166
	147	Analog Devices, Inc.		2,790
	3,500	Broadcom Corp. Class A (D)		59,395
	469	Intel Corp.		6,870
	309	Lam Research Corp. (D)		6,569
	544	Marvell Technology Group Ltd. (D)		3,629
	223	Maxim Integrated Products, Inc.		2,550
	1,367	ON Semiconductor Corp. (D)		4,647
	407	Varian Semiconductor Equipment Associates, Inc. (D)		7,367
	302	Xilinx, Inc.		5,387

				112,370

		Software & Services — 5.9%
	146	Accenture Ltd. Class A		4,777
	123	Adobe Systems, Inc. (D)		2,619
	378	Akamai Technologies, Inc. (D)		5,698
	545	Amdocs Ltd. (D)		9,963
	499	Ariba, Inc. (D)		3,596
	174	Baidu.com ADR (D)		22,693
	347	BMC Software, Inc. (D)		9,338
	275	CACI International, Inc. Class A (D)		12,400
	80	Concur Technologies, Inc. (D)		2,616
	465	Electronic Arts, Inc. (D)		7,458
	164	Equinix, Inc. (D)		8,734
	396	Giant Interactive Group, Inc. ADR (D)		2,571
	229	Google, Inc. (D)		70,489
	137	MasterCard, Inc.		19,567
	1,000	McAfee, Inc. (D)		34,570
	2,237	Microsoft Corp.		43,488
	69	Netease.com, Inc. (D)		1,518
	3	Nintendo Co., Ltd.		1,298
	5,239	Oracle Corp. (D)		92,887

The accompanying notes are an integral part of these financial statements.

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Software & Services — (continued)
	92	Shanda Interactive Entertainment Ltd. ADR (D)	$	2,966
	445	Solera Holdings, Inc. (D)		10,724
	245	UbiSoft Entertainment S.A. (D)		4,839
	188	Visa, Inc.		9,857
	3,024	Western Union Co.		43,366

				428,032

		Technology Hardware & Equipment — 7.9%
	25	Apple, Inc. (D)		2,100
	352	Arrow Electronics, Inc. (D)		6,624
	77	Canon, Inc.		2,447
	9,837	Cisco Systems, Inc. (D)		160,341
	692	Corning, Inc.		6,590
	2,051	EMC Corp. (D)		21,475
	478	Emulex Corp. (D)		3,339
	1,806	Flextronics International Ltd. (D)		4,622
	83	FLIR Systems, Inc. (D)		2,537
	2,481	Hewlett-Packard Co.		90,026
	29,987	Hon Hai Precision Industry Co., Ltd.		59,175
	1,348	International Business Machines Corp.		113,414
	649	JDS Uniphase Corp. (D)		2,367
	595	NetApp, Inc. (D)		8,314
	115	Nice Systems Ltd. (D)		2,593
	471	QLogic Corp. (D)		6,336
	1,861	Qualcomm, Inc.		66,657
	248	Research In Motion Ltd. (D)		10,057
	1,060	Seagate Technology		4,697
	75	Solar Cayman Ltd. (A)(D)(H)		875

				574,586

		Telecommunication Services — 2.3%
	3,495	AT&T, Inc.		99,616
	134	Brasil Telecom S.A. ADR		2,403
	1,477	MetroPCS Communications, Inc. (D)		21,934
	874	Mobile Telesystems OJSC ADR		23,321
	393	Orascom Telecom Holding SAE GDR		10,726
	6,406	Vodafone Group plc		13,313

				171,313

		Transportation — 1.3%
	91	C.H. Robinson Worldwide, Inc.		4,991
	3,709	Delta Air Lines, Inc. (D)		42,509
	104	FedEx Corp.		6,659
	596	Heartland Express, Inc.		9,385
	321	Hub Group, Inc. (D)		8,508
	60	Norfolk Southern Corp.		2,828
	124	Ryanair Holdings plc ADR (D)		3,603
	7,490	Shun Tak Holdings Ltd.		2,077
	111	United Parcel Service, Inc. Class B		6,134
	798	US Airways Group, Inc. (D)		6,172

				92,866

		Utilities — 1.2%
	4,535	AES Corp. (D)		37,369
	57	Exelon Corp.		3,158
	453	Northeast Utilities		10,895
	924	NRG Energy, Inc. (D)		21,548
	241	Progress Energy, Inc.		9,620
	91	UGI Corp.		2,217

				84,807

		Total common stock (cost $9,824,190)	$	7,057,235
WARRANTS — 0.0%
		Banks — 0.0%
	59	Washington Mutual, Inc. Private Placement (A)(H)		—
		Capital Goods — 0.0%
	150	Capstone Turbine Corp. (H)		—
		Pharmaceuticals, Biotechnology & Life Sciences — 0.0%
	510	Novavax, Inc. (H)		—

		Total warrants (cost $— )	$	—
EXCHANGE TRADED FUNDS — 0.7%
		Other Investment Pools and Funds — 0.7%
	145	iShares MSCI EAFE Index Fund	$	6,506
	123	iShares MSCI Emerging Markets Index Fund		3,069
	282	S & P 500 Depositary Receipt		25,430
	180	S & P Mid-Cap 400 Depositary Receipts		17,518

		Total exchange traded funds (cost $55,649)	$	52,523


Principal
Amount

CORPORATE BONDS: INVESTMENT GRADE — 0.9%
		Finance — 0.9%
		MBIA Insurance Co.
$	53,500	14.00%, 01/15/2033 (I)(L)	$	27,285
		Morgan Stanley
	31,920	4.75%, 04/01/2014		24,319
		UBS Luxembourg S.A.
	24,760	6.23%, 02/11/2015		15,599

		Total corporate bonds: investment grade (cost $99,749)	$	67,203

		Total long-term investments (cost $9,979,588)	$	7,176,961
SHORT-TERM INVESTMENTS — 1.0%
		Repurchase Agreements — 1.0%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $55, collateralized by U.S. Treasury Note 4.50%, 2009, value of $56)
$	55	0.03% dated 12/31/2008	$	55
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $23,827, collateralized by FNMA 5.00%, 2035 — 2038, value of $24,303)
	23,827	0.08% dated 12/31/2008		23,827
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,047, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $1,068)
	1,047	0.07% dated 12/31/2008		1,047

The accompanying notes are an integral part of these financial statements.


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)
Principal					Market
Amount					Value (W)

		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $23,041, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $23,502)
$	23,041	0.10% dated 12/31/2008			$	23,041
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $21,208, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $21,632)
	21,208	0.05% dated 12/31/2008				21,208
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,880, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $2,938)
	2,880	0.07% dated 12/31/2008				2,880

		Total short-term investments (cost $72,058)			$	72,058
		Total investments (cost $10,051,646) (C)	99.1	%	$	7,249,019
		Other assets and liabilities	0.9	%		64,030

		Total net assets	100.0	%	$	7,313,049


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 23.01% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $10,612,229 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	255,265
Unrealized Depreciation		(3,618,475	)

Net Unrealized Depreciation	$	(3,363,210	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $39,579, which represents 0.54% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $34,087, which represents 0.47% of total net assets.

(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis

06/2007		29,056	Buck Holdings L.P.	$	29,086
09/2008		150	Capstone Turbine Corp. Warrants		—
10/2005		30	Harvey Weinstein Co. Holdings Class A-1 - Reg D		27,951
01/2007 –		315	Impax Laboratories, Inc.		3,114
11/2007
07/2008		510	Novavax, Inc. Warrants		—
03/2007		75	Solar Cayman Ltd. - 144A		1,121
04/2008		59	Washington Mutual, Inc. Private Placement Warrants		—
04/2008		469	Washington Mutual, Inc. Private Placement		4,100


		The aggregate value of these securities at December 31, 2008 was $39,579 which represents 0.54% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Australian Dollar (Sell)	$	829	$	808		01/02/09	$	(21	)
British Pound (Buy)		17		17		01/05/09		—
Danish Krone (Sell)		1,218		1,216		01/02/09		(2	)
Danish Krone (Sell)		805		817		01/05/09		12
Euro (Sell)		9,167		9,284		01/02/09		117
Euro (Buy)		18		18		01/05/09		—
Euro (Sell)		2,892		2,917		01/05/09		25
Euro (Buy)		9		9		01/06/09		—
Hong Kong Dollar (Sell)		324		324		01/02/09		—
Hong Kong Dollar (Buy)		29		29		01/05/09		—
Hong Kong Dollar (Sell)		92		92		01/05/09		—
Hong Kong Dollar (Sell)		422		422		01/05/09		—
Japanese Yen (Buy)		51		51		01/07/09		—

							$	131


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Disciplined Equity HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 97.5%
		Banks — 4.1%
	322	BB&T Corp.	$	8,828
	86	Comerica, Inc.		1,697
	95	Huntington Bancshares, Inc.		731
	28	M&T Bank Corp.		1,625
	234	PNC Financial Services Group, Inc.		11,456
	633	Wells Fargo & Co.		18,658

				42,995

		Capital Goods — 5.2%
	330	Dover Corp.		10,873
	120	General Dynamics Corp.		6,905
	341	Lockheed Martin Corp.		28,663
	83	Parker-Hannifin Corp.		3,529
	77	Raytheon Co.		3,925

				53,895

		Commercial & Professional Services — 0.8%
	255	Manpower, Inc. (U)		8,674
		Diversified Financials — 2.9%
	121	Capital One Financial Corp.		3,855
	464	Invesco Ltd.		6,706
	251	JP Morgan Chase & Co.		7,914
	380	Morgan Stanley		6,094
	106	Northern Trust Corp.		5,501

				30,070

		Energy — 9.3%
	194	Chevron Corp.		14,328
	263	Exxon Mobil Corp.		21,019
	259	Halliburton Co. (U)		4,710
	209	Hess Corp.		11,184
	552	Marathon Oil Corp.		15,095
	498	Occidental Petroleum Corp.		29,851

				96,187

		Food & Staples Retailing — 4.0%
	223	BJ’s Wholesale Club, Inc. (D)		7,633
	469	Supervalu, Inc.		6,853
	488	Wal-Mart Stores, Inc.		27,358

				41,844

		Food, Beverage & Tobacco — 6.1%
	352	General Mills, Inc.		21,408
	32	Lorillard, Inc.		1,798
	219	PepsiCo, Inc.		12,017
	639	Philip Morris International, Inc.		27,819

				63,042

		Health Care Equipment & Services — 5.3%
	133	Aetna, Inc.		3,779
	129	Covidien Ltd.		4,664
	55	Humana, Inc. (D)		2,058
	519	McKesson Corp.		20,104
	334	Medtronic, Inc.		10,485
	408	St. Jude Medical, Inc. (D)		13,461

				54,551

		Household & Personal Products — 0.5%
	91	Kimberly-Clark Corp.		4,815
		Insurance — 4.6%
	438	Allied World Assurance Holdings Ltd.		17,795
	353	Axis Capital Holdings Ltd.		10,291
	37	Everest Re Group Ltd.		2,809
	298	Marsh & McLennan Cos., Inc.		7,228
	486	Unum Group		9,040

				47,163

		Materials — 1.8%
	38	Monsanto Co.		2,694
	117	Mosaic Co.		4,045
	251	Nucor Corp.		11,596

				18,335

		Media — 2.5%
	397	DirecTV Group, Inc. (D)		9,097
	297	DISH Network Corp. (D)		3,296
	587	Walt Disney Co.		13,326

				25,719

		Pharmaceuticals, Biotechnology & Life Sciences — 18.2%
	263	Abbott Laboratories		14,026
	470	Amgen, Inc. (D)		27,154
	1,026	Bristol-Myers Squibb Co.		23,845
	178	Cephalon, Inc. (D)		13,736
	628	Eli Lilly & Co.		25,269
	753	Forest Laboratories, Inc. (D)		19,179
	301	Johnson & Johnson		18,009
	418	Merck & Co., Inc.		12,695
	610	Schering-Plough Corp.		10,380
	281	Watson Pharmaceuticals, Inc. (D)		7,469
	431	Wyeth		16,182

				187,944

		Real Estate — 0.9%
	587	Annaly Capital Management, Inc.		9,319
		Retailing — 3.0%
	1,236	Gap, Inc.		16,553
	245	Staples, Inc.		4,385
	477	TJX Cos., Inc.		9,801

				30,739

		Semiconductors & Semiconductor Equipment — 1.2%
	192	Broadcom Corp. Class A (D)		3,265
	256	Intel Corp.		3,755
	277	Lam Research Corp. (D)		5,903

				12,923

		Software & Services — 10.0%
	521	Accenture Ltd. Class A		17,080
	482	Activision Blizzard, Inc. (D)		4,163
	471	BMC Software, Inc. (D)		12,661
	38	Google, Inc. (D)		11,814
	1,211	Microsoft Corp.		23,548
	1,041	Oracle Corp. (D)		18,464
	1,086	Western Union Co.		15,566

				103,296

		Technology Hardware & Equipment — 7.1%
	94	Apple, Inc. (D)		8,006
	255	Avnet, Inc. (D)		4,651
	185	Cisco Systems, Inc. (D)		3,014
	382	Dell, Inc. (D)		3,909
	554	Hewlett-Packard Co. (U)		20,101
	644	Ingram Micro, Inc. (D)		8,628
	139	International Business Machines Corp.		11,681
	93	Qualcomm, Inc.		3,341

The accompanying notes are an integral part of these financial statements.


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Technology Hardware & Equipment — (continued)
	1,264	Xerox Corp.			$	10,072

						73,403

		Telecommunication Services — 3.0%
	937	AT&T, Inc.				26,700
	168	CenturyTel, Inc.				4,586

						31,286

		Transportation — 2.1%
	140	FedEx Corp.				8,987
	139	J.B. Hunt Transport Services, Inc.				3,638
	1,005	Southwest Airlines Co.				8,667

						21,292

		Utilities — 4.9%
	127	Entergy Corp.				10,524
	130	Exelon Corp. (U)				7,213
	352	FirstEnergy Corp.				17,086
	197	PG&E Corp.				7,626
	344	UGI Corp.				8,400

						50,849

		Total common stock (cost $1,265,089)			$	1,008,341


Principal
Amount

SHORT-TERM INVESTMENTS — 1.7%
		Repurchase Agreements — 1.7%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $14, collateralized by U.S. Treasury Note 4.50%, 2009, value of $14)
$	14	0.03% dated 12/31/2008			$	14
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $5,874, collateralized by FNMA 5.00%, 2035 — 2038, value of $5,991)
	5,874	0.08% dated 12/31/2008				5,874
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $258, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $263)
	258	0.07% dated 12/31/2008				258
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $5,680, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $5,794)
	5,680	0.10% dated 12/31/2008				5,680
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $5,228, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $5,333)
	5,228	0.05% dated 12/31/2008				5,228
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $710, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $724)
	710	0.07% dated 12/31/2008				710

		Total short-term investments (cost $17,764)			$	17,764

		Total investments (cost $1,282,853) (C)	99.2	%	$	1,026,105
		Other assets and liabilities	0.8	%		8,542

		Total net assets	100.0	%	$	1,034,647


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.
(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,282,853 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	24,723
Unrealized Depreciation		(281,471	)

Net Unrealized Depreciation	$	(256,748	)


(D)		Currently non-income producing.
(U)		At December 31, 2008, securities valued at $6,947 were fully or partially designated to cover open call options written as follows (see Note 3 to accompanying Notes to Financial Statements):


	Number of		Exercise		Exercise		Market		Premiums
Issuer	Contracts*		Price		Date		Value (W)		Received

Exelon Corp. Call		245	$	60.00		Jan 2009	$	8	$	55
Halliburton Co. Call		599		20.00		Jan 2009		21		13
Hewlett-Packard Co. Call		693		37.50		Jan 2009		59		92
Manpower, Inc. Call		480		35.00		Jan 2009		48		31

							$	136	$	191


		* The number of contracts does not omit 000’s.
		At December 31, 2008, cash of $2,592 was designated to cover open put options written as follows (see Note 3 to accompanying Notes to Financial Statements):


	Number of		Exercise		Exercise		Market		Premiums
Issuer	Contracts*		Price		Date		Value (W)		Received

Broadcom Corp. Put		316	$	12.50		Jan 2009	$	1	$	19
Capital One Put		205		20.00		Jan 2009		4		8
Google, Inc. Put		33		250.00		Jan 2009		4		10
J.B. Hunt Transport Services, Inc. Put		244		20.00		Jan 2009		2		7
Merck & Co., Inc. Put		362		20.00		Jan 2009		4		21
Western Union Co. Put		748		10.00		Jan 2009		4		33
Xerox Corp. Put		1,345		6.00		Feb 2009		27		40

							$	46	$	138


		* The number of contracts does not omit 000’s.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

90 Day Euro

339

Long

Mar 2009

470


		* The number of contracts does not omit 000’s.
		Cash of $1,678 was pledged as initial margin deposit for open futures contracts at December 31, 2008.
(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Dividend and Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 98.4%
		Automobiles & Components — 0.7%
	1,543	Honda Motor Co., Ltd. ADR	$	32,930

		Banks — 3.7%
	1,138	Comerica, Inc.		22,587
	437	M&T Bank Corp.		25,100
	702	PNC Financial Services Group, Inc.		34,417
	1,144	Synovus Financial Corp.		9,498
	716	US Bancorp		17,900
	1,554	Washington Mutual, Inc. Private Placement (A)(H)		30
	1,786	Wells Fargo & Co.		52,651

				162,183

		Capital Goods — 9.0%
	237	Caterpillar, Inc.		10,573
	1,588	Deere & Co.		60,868
	492	Eaton Corp.		24,447
	4,248	General Electric Co.		68,811
	533	Honeywell International, Inc.		17,485
	858	Illinois Tool Works, Inc.		30,055
	699	Lockheed Martin Corp.		58,764
	396	PACCAR, Inc.		11,337
	789	Parker-Hannifin Corp.		33,556
	1,188	Pentair, Inc.		28,108
	592	Siemens AG ADR		44,829
	947	Spirit Aerosystems Holdings, Inc. (D)		9,628

				398,461

		Commercial & Professional Services — 1.6%
	1,080	Pitney Bowes, Inc.		27,506
	1,301	Waste Management, Inc.		43,112

				70,618

		Diversified Financials — 6.2%
	3,446	Bank of America Corp.		48,518
	1,072	Capital One Financial Corp.		34,192
	180	Goldman Sachs Group, Inc.		15,173
	1,609	JP Morgan Chase & Co.		50,741
	1,547	Morgan Stanley		24,811
	1,459	State Street Corp.		57,375
	2,828	UBS AG ADR (D)		40,445

				271,255

		Energy — 18.2%
	1,929	Anadarko Petroleum Corp.		74,378
	876	BP plc ADR		40,940
	2,453	Chevron Corp.		181,449
	283	ConocoPhillips Holding Co.		14,639
	1,249	EnCana Corp.		58,038
	1,901	Exxon Mobil Corp.		151,738
	2,208	Marathon Oil Corp.		60,405
	939	Schlumberger Ltd.		39,739
	2,029	Total S.A. ADR		112,176
	1,878	XTO Energy, Inc.		66,242

				799,744

		Food & Staples Retailing — 2.3%
	718	Sysco Corp.		16,464
	792	Walgreen Co.		19,548
	1,158	Wal-Mart Stores, Inc.		64,940

				100,952

		Food, Beverage & Tobacco — 4.2%
	1,659	Nestle S.A. ADR		65,874
	949	PepsiCo, Inc.		51,966
	639	Philip Morris International, Inc.		27,794
	1,534	SABMiller plc		26,031
	451	Unilever N.V.		11,072

				182,737

		Health Care Equipment & Services — 2.4%
	1,836	Medtronic, Inc.		57,697
	1,772	UnitedHealth Group, Inc.		47,140

				104,837

		Household & Personal Products — 1.8%
	781	Kimberly-Clark Corp.		41,174
	644	Procter & Gamble Co.		39,831

				81,005

		Insurance — 4.8%
	1,312	ACE Ltd.		69,441
	846	Marsh & McLennan Cos., Inc.		20,542
	1,899	MetLife, Inc.		66,182
	757	Principal Financial Group, Inc.		17,092
	439	Prudential Financial, Inc.		13,299
	564	Travelers Cos., Inc.		25,475

				212,031

		Materials — 3.7%
	1,115	Agrium U.S., Inc.		38,038
	393	Air Products and Chemicals, Inc.		19,766
	856	Barrick Gold Corp.		31,471
	546	BHP Billiton Ltd. ADR		23,415
	234	E.I. DuPont de Nemours & Co.		5,911
	2,524	International Paper Co.		29,782
	1,049	Rhodia S.A. ADR		6,661
	129	Rohm & Haas Co.		7,945

				162,989

		Media — 3.6%
	2,684	Comcast Corp. Class A		45,299
	1,004	Comcast Corp. Special Class A		16,215
	777	McGraw-Hill Cos., Inc.		18,026
	2,692	Time Warner, Inc.		27,084
	953	Viacom, Inc. Class B (D)		18,167
	1,491	Walt Disney Co.		33,828

				158,619

		Pharmaceuticals, Biotechnology & Life Sciences — 12.0%
	1,085	Abbott Laboratories		57,885
	1,230	AstraZeneca plc ADR		50,455
	2,631	Bristol-Myers Squibb Co.		61,162
	2,807	Eli Lilly & Co.		113,038
	1,760	Merck & Co., Inc.		53,498
	1,205	Sanofi-Aventis S.A. ADR		38,756
	4,320	Schering-Plough Corp.		73,576
	538	Teva Pharmaceutical Industries Ltd. ADR		22,894
	1,561	Wyeth		58,568

				529,832

		Retailing — 1.3%
	1,188	Limited Brands, Inc.		11,925
	2,547	Staples, Inc.		45,633

				57,558

		Semiconductors & Semiconductor Equipment — 1.3%
	1,735	Applied Materials, Inc.		17,575
	1,044	Intel Corp.		15,311

The accompanying notes are an integral part of these financial statements.


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Semiconductors & Semiconductor Equipment — (continued)
	2,074	Maxim Integrated Products, Inc.			$	23,687

						56,573

		Software & Services — 3.1%
	1,563	Accenture Ltd. Class A				51,264
	1,097	Automatic Data Processing, Inc.				43,136
	2,089	Microsoft Corp.				40,618

						135,018

		Technology Hardware & Equipment — 4.6%
	1,089	Avnet, Inc. (D)				19,838
	2,926	Corning, Inc.				27,889
	1,419	International Business Machines Corp.				119,406
	4,627	Xerox Corp.				36,879

						204,012

		Telecommunication Services — 6.0%
	7,293	AT&T, Inc.				207,855
	1,621	Verizon Communications, Inc.				54,967

						262,822

		Transportation — 1.8%
	890	FedEx Corp.				57,113
	2,804	Southwest Airlines Co.				24,172

						81,285

		Utilities — 6.1%
	1,861	Dominion Resources, Inc.				66,698
	1,303	Exelon Corp.				72,433
	1,391	FPL Group, Inc.				70,009
	1,242	PG&E Corp.				48,086
	429	Veolia Environment ADR				13,610

						270,836

		Total common stock (cost $5,073,567)			$	4,336,297



WARRANTS — 0.0%
		Banks — 0.0%
	194	Washington Mutual, Inc. Private Placement (A)(H)			$	—

		Total warrants (cost $—)			$	—

		Total long-term investments (cost $5,073,567)			$	4,336,297


Principal
Amount
SHORT-TERM INVESTMENTS — 1.2%
		Repurchase Agreements — 1.2%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $39, collateralized by U.S. Treasury Note 4.50%, 2009, value of $39)
$	39	0.03% dated 12/31/2008			$	39
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $16,718, collateralized by FNMA 5.00%, 2035 — 2038, value of $17,053)
	16,718	0.08% dated 12/31/2008				16,718
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $735, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $750)
	735	0.07% dated 12/31/2008				735
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $16,167, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $16,491)
	16,167	0.10% dated 12/31/2008				16,167
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $14,881, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $15,179)
	14,881	0.05% dated 12/31/2008				14,881
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,021, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $2,061)
	2,021	0.07% dated 12/31/2008				2,021

		Total short-term investments (cost $50,561)			$	50,561

		Total investments (cost $5,124,128) (C)	99.6	%	$	4,386,858
		Other assets and liabilities	0.4	%		18,894

		Total net assets	100.0	%	$	4,405,752


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 14.18% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $5,144,313 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	318,796
Unrealized Depreciation		(1,076,251	)

Net Unrealized Depreciation	$	(757,455	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $30, which represents 0.00% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
07/2008		194	Washington Mutual, Inc. Private Placement Warrants	$	—
04/2008		1,554	Washington Mutual, Inc. Private Placement		13,600


		The aggregate value of these securities at December 31, 2008 was $30 which represents 0.00% of total net assets.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Equity Income HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 97.6%
		Banks — 7.6%
	113	PNC Financial Services Group, Inc.	$	5,522
	221	US Bancorp		5,537
	336	Wells Fargo & Co.		9,908

				20,967

		Capital Goods — 8.4%
	43	3M Co.		2,497
	29	Caterpillar, Inc.		1,291
	62	Eaton Corp.		3,102
	453	General Electric Co.		7,343
	82	Illinois Tool Works, Inc.		2,857
	104	PACCAR, Inc.		2,983
	40	Schneider Electric S.A.		2,959

				23,032

		Commercial & Professional Services — 3.6%
	156	Republic Services, Inc.		3,870
	180	Waste Management, Inc.		5,955

				9,825

		Consumer Durables & Apparel — 0.5%
	30	Fortune Brands, Inc.		1,251
	1	Stanley Works		47

				1,298

		Diversified Financials — 6.2%
	358	Bank of America Corp.		5,035
	101	Bank of New York Mellon Corp.		2,873
	288	JP Morgan Chase & Co.		9,065

				16,973

		Energy — 16.1%
	118	BP plc ADR		5,501
	171	Chevron Corp.		12,649
	49	ConocoPhillips Holding Co.		2,534
	32	EnCana Corp.		1,473
	160	Exxon Mobil Corp.		12,755
	69	Marathon Oil Corp.		1,888
	27	Occidental Petroleum Corp.		1,590
	41	Royal Dutch Shell plc ADR		2,116
	70	Total S.A. ADR		3,849

				44,355

		Food & Staples Retailing — 0.7%
	94	Supervalu, Inc.		1,365
	30	Sysco Corp.		691

				2,056

		Food, Beverage & Tobacco — 9.1%
	235	Altria Group, Inc.		3,534
	100	ConAgra Foods, Inc.		1,642
	40	Diageo plc ADR		2,247
	25	Lorillard, Inc.		1,386
	146	Nestle S.A. ADR		5,810
	62	PepsiCo, Inc.		3,407
	112	Philip Morris International, Inc.		4,857
	85	Unilever N.V. NY Shares ADR		2,079

				24,962

		Household & Personal Products — 2.0%
	104	Kimberly-Clark Corp.		5,491

		Insurance — 5.9%
	132	ACE Ltd.		6,959
	97	Allstate Corp.		3,184
	120	Chubb Corp.		6,124

				16,267

		Materials — 3.5%
	42	Air Products and Chemicals, Inc.		2,101
	67	E.I. DuPont de Nemours & Co.		1,703
	118	International Paper Co.		1,395
	54	PPG Industries, Inc.		2,305
	391	Rexam plc		2,029

				9,533

		Pharmaceuticals, Biotechnology & Life Sciences — 8.6%
	195	Bristol-Myers Squibb Co.		4,539
	45	Eli Lilly & Co.		1,828
	68	GlaxoSmithKline plc ADR		2,534
	148	Merck & Co., Inc.		4,484
	433	Pfizer, Inc.		7,676
	67	Wyeth		2,499

				23,560

		Real Estate — 0.3%
	49	Kimco Realty Corp.		888

		Retailing — 5.4%
	166	Genuine Parts Co.		6,277
	216	Home Depot, Inc.		4,982
	51	Nordstrom, Inc.		676
	48	Sherwin-Williams Co.		2,886

				14,821

		Semiconductors & Semiconductor Equipment — 1.4%
	267	Intel Corp.		3,917

		Software & Services — 2.6%
	363	Microsoft Corp.		7,053

		Telecommunication Services — 5.7%
	345	AT&T, Inc.		9,831
	177	Verizon Communications, Inc.		5,985

				15,816

		Transportation — 1.0%
	59	Norfolk Southern Corp.		2,776

		Utilities — 9.0%
	101	American Electric Power Co., Inc.		3,361
	73	Consolidated Edison, Inc.		2,834
	131	Dominion Resources, Inc.		4,684
	31	Entergy Corp.		2,536
	141	FPL Group, Inc.		7,078
	66	PG&E Corp.		2,539
	45	SCANA Corp.		1,592

				24,624

		Total common stock (cost $332,081)	$	268,214



Principal
Amount

SHORT-TERM INVESTMENTS — 2.2%
		Repurchase Agreements — 2.2%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $5, collateralized by U.S. Treasury Note 4.50%, 2009, value of $5)
$	5	0.03% dated 12/31/2008		5

The accompanying notes are an integral part of these financial statements.


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,984, collateralized by FNMA 5.00%, 2035 — 2038, value of $2,024)
$	1,984	0.08% dated 12/31/2008			$	1,984
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $87, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $89)
	87	0.07% dated 12/31/2008				87
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,919, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $1,957)
	1,919	0.10% dated 12/31/2008				1,919
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,766, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $1,802)
	1,766	0.05% dated 12/31/2008				1,766
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $240, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $245)
	240	0.07% dated 12/31/2008				240

		Total short-term investments (cost $6,001)			$	6,001

		Total investments (cost $338,082) (C)	99.8	%	$	274,215
		Other assets and liabilities	0.2	%		647

		Total net assets	100.0	%	$	274,862


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 11.13% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $340,249 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	4,747
Unrealized Depreciation		(70,781	)

Net Unrealized Depreciation	$	(66,034	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Fundamental Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 99.2%
		Capital Goods — 8.2%
	8	Caterpillar, Inc.	$	371
	25	Deere & Co.		946
	15	Flowserve Corp.		747
	24	General Electric Co.		395
	31	Honeywell International, Inc.		1,008
	16	Precision Castparts Corp.		940

				4,407

		Consumer Durables & Apparel — 2.6%
	25	Coach, Inc. (D)		525
	18	NIKE, Inc. Class B		898

				1,423

		Consumer Services — 1.5%
	13	McDonald’s Corp.		808

		Diversified Financials — 1.3%
	22	JP Morgan Chase & Co.		700

		Energy — 10.3%
	12	Apache Corp.		902
	46	Atwood Oceanics, Inc. (D)		701
	6	Devon Energy Corp.		407
	32	Hercules Offshore, Inc. (D)		151
	13	Hess Corp.		703
	22	Marathon Oil Corp.		602
	34	National Oilwell Varco, Inc. (D)		824
	10	Noble Corp.		230
	12	Petroleo Brasileiro S.A. ADR		296
	21	Ultra Petroleum Corp. (D)		714

				5,530

		Food & Staples Retailing — 4.0%
	40	CVS/Caremark Corp.		1,153
	18	Wal-Mart Stores, Inc.		981

				2,134

		Food, Beverage & Tobacco — 4.3%
	15	PepsiCo, Inc.		827
	34	Philip Morris International, Inc.		1,484

				2,311

		Health Care Equipment & Services — 8.7%
	65	Coventry Health Care, Inc. (D)		961
	15	Covidien Ltd.		547
	22	Medtronic, Inc.		701
	27	St. Jude Medical, Inc. (D)		890
	35	UnitedHealth Group, Inc.		939
	15	Wellpoint, Inc. (D)		632

				4,670

		Household & Personal Products — 1.6%
	14	Procter & Gamble Co.		890

		Insurance — 3.4%
	26	Aflac, Inc.		1,210
	55	Assured Guaranty Ltd.		627

				1,837

		Materials — 1.7%
	12	Potash Corp. of Saskatchewan, Inc.		908

		Media — 1.1%
	26	Walt Disney Co.		588

		Pharmaceuticals, Biotechnology & Life Sciences — 10.6%
	16	Abbott Laboratories		849
	18	Amgen, Inc. (D)		1,051
	27	AstraZeneca plc ADR		1,120
	15	Celgene Corp. (D)		802
	17	Genzyme Corp. (D)		1,148
	12	Johnson & Johnson		700

				5,670

		Retailing — 4.5%
	19	Gymboree Corp. (D)		483
	29	Kohl’s Corp. (D)		1,043
	49	Staples, Inc.		883

				2,409

		Semiconductors & Semiconductor Equipment — 1.5%
	54	Intel Corp.		790

		Software & Services — 13.3%
	49	Accenture Ltd. Class A		1,597
	3	Google, Inc. (D)		1,000
	90	Microsoft Corp.		1,751
	100	Oracle Corp. (D)		1,768
	70	Western Union Co.		1,004

				7,120

		Technology Hardware & Equipment — 16.4%
	11	Apple, Inc. (D)		956
	99	Cisco Systems, Inc. (D)		1,607
	57	Corning, Inc.		538
	27	EMC Corp. (D)		283
	47	Hewlett-Packard Co.		1,709
	15	International Business Machines Corp.		1,288
	55	Nokia Corp.		856
	23	Qualcomm, Inc.		810
	19	Research In Motion Ltd. (D)		763

				8,810

		Telecommunication Services — 3.4%
	49	AT&T, Inc.		1,402
	23	NII Holdings, Inc. Class B (D)		424

				1,826

		Transportation — 0.8%
	10	Norfolk Southern Corp.		456

		Total common stock (cost $71,145)	$	53,287



Principal
Amount

SHORT-TERM INVESTMENTS — 1.8%
		Repurchase Agreements — 1.8%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1, collateralized by U.S. Treasury Note 4.50%, 2009, value of $1)
$	1	0.03% dated 12/31/2008	$	1
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $317, collateralized by FNMA 5.00%, 2035 — 2038, value of $323)
	317	0.08% dated 12/31/2008		317

The accompanying notes are an integral part of these financial statements.


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $14, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $14)
$	14	0.07% dated 12/31/2008			$	14
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $307, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $313)
	307	0.10% dated 12/31/2008				307
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $282, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $288)
	282	0.05% dated 12/31/2008				282
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $38, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $39)
	38	0.07% dated 12/31/2008				38

		Total short-term investments (cost $959)			$	959

		Total investments (cost $72,104) (C)	101.0	%	$	54,246
		Other assets and liabilities	(1.0	)%		(561	)

		Total net assets	100.0	%	$	53,685


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 7.35% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $74,337 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	660
Unrealized Depreciation		(20,751	)

Net Unrealized Depreciation	$	(20,091	)


(D)		Currently non-income producing.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Global Advisers HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 51.0%
		Banks — 2.6%
	88	Banco Itau Holding Financeira S.A. ADR	$	1,016
	36	National Bank of Greece		670
	28	Societe Generale Class A		1,429
	82	Standard Chartered plc		1,059
	60	Wells Fargo & Co.		1,760

				5,934

		Capital Goods — 5.1%
	21	Alstom RGPT		1,236
	23	Danaher Corp.		1,296
	16	Deere & Co.		625
	18	General Dynamics Corp.		1,037
	19	Illinois Tool Works, Inc.		680
	20	Lockheed Martin Corp.		1,665
	18	Siemens AG		1,399
	51	Sunpower Corp. Class A (D)		1,904
	25	Vestas Wind Systems A/S (D)		1,490

				11,332

		Consumer Services — 0.9%
	151	Las Vegas Sands Corp. (D)		897
	83	Royal Caribbean Cruises Ltd.		1,136

				2,033

		Diversified Financials — 2.3%
	20	Goldman Sachs Group, Inc.		1,705
	50	JP Morgan Chase & Co.		1,580
	50	Julius Baer Holding Ltd.		1,932

				5,217

		Energy — 4.7%
	33	Canadian Natural Resources Ltd.		1,314
	36	Hess Corp.		1,947
	36	Schlumberger Ltd.		1,533
	168	Seadrill Ltd.		1,380
	24	Total S.A.		1,321
	41	Ultra Petroleum Corp. (D)		1,425
	46	XTO Energy, Inc.		1,633

				10,553

		Food, Beverage & Tobacco — 3.3%
	59	British American Tobacco plc		1,555
	32	Carlsberg A/S Class B		1,045
	31	Groupe Danone		1,906
	73	Nestle S.A.		2,897

				7,403

		Health Care Equipment & Services — 1.6%
	36	Fresenius Medical Care AG & Co.		1,665
	56	St. Jude Medical, Inc. (D)		1,852

				3,517

		Household & Personal Products — 1.4%
	24	Clorox Co.		1,350
	47	Reckitt Benckiser Group plc		1,785

				3,135

		Insurance — 1.2%
	11	Muenchener Rueckversicherungs- Gesellschaft AG		1,645
	207	Ping An Insurance (Group) Co.		1,015

				2,660

		Materials — 3.4%
	157	BHP Billiton plc		3,099
	26	Monsanto Co.		1,850
	20	Potash Corp. of Saskatchewan, Inc.		1,457
	20	Praxair, Inc.		1,164

				7,570

		Media — 0.9%
	114	Comcast Corp. Class A		1,919
		Pharmaceuticals, Biotechnology & Life Sciences — 8.7%
	30	Abbott Laboratories		1,596
	60	Allergan, Inc.		2,415
	32	Amgen, Inc. (D)		1,825
	23	Celgene Corp. (D)		1,244
	81	CSL Ltd.		1,953
	69	Daiichi Sankyo Co., Ltd.		1,637
	33	Gilead Sciences, Inc. (D)		1,693
	18	Roche Holding AG		2,729
	59	Teva Pharmaceutical Industries Ltd. ADR		2,495
	52	Wyeth		1,954

				19,541

		Retailing — 0.4%
	5	Best Buy Co., Inc.		129
	8	Industria de Diseno Textil S.A.		366
	11	Kohl’s Corp. (D)		388

				883

		Semiconductors & Semiconductor Equipment — 0.4%
	49	Altera Corp.		824
		Software & Services — 5.2%
	119	Electronic Arts, Inc. (D)		1,910
	7	Google, Inc. (D)		2,123
	7	Nintendo Co., Ltd.		2,520
	162	Oracle Corp. (D)		2,872
	29	Visa, Inc.		1,495
	43	Western Union Co.		621

				11,541

		Technology Hardware & Equipment — 3.3%
	19	Apple, Inc. (D)		1,656
	102	Cisco Systems, Inc. (D)		1,659
	46	Hewlett-Packard Co.		1,673
	70	NetApp, Inc. (D)		977
	35	Research In Motion Ltd. (D)		1,424

				7,389

		Telecommunication Services — 5.1%
	77	American Tower Corp. Class A (D)		2,243
	231	MetroPCS Communications, Inc. (D)		3,431
	31	Millicom International Cellular S.A.		1,401
	84	Softbank Corp.		1,519
	94	Telefonica S.A.		2,138
	80	Vimpel-Communications ADR		572

				11,304

		Transportation — 0.5%
	17	FedEx Corp.		1,097

		Total common stock (cost $147,865)	$	113,852

The accompanying notes are an integral part of these financial statements.


Principal			Market
Amount (B)			Value (W)

ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 3.3%
		Finance — 3.3%
		ARMS II
$	52	2.42%, 09/10/2034 (L)	$	49
		Banc of America Commercial Mortgage, Inc.
	660	5.18%, 09/10/2047 (L)		541
		Bear Stearns Commercial Mortgage Securities, Inc.
	595	4.68%, 08/13/2039		538
	450	5.61%, 11/15/2033		427
		Capital One Prime Automotive Receivables Trust
	337	1.22%, 04/15/2011 (L)		327
		Collegiate Funding Services Education Loan Trust I
	195	1.48%, 09/28/2017 (L)		189
		Commercial Mortgage Asset Trust
	303	6.64%, 01/17/2032		302
		Crusade Global Trust
	118	1.93%, 06/17/2037 (L)		98
	80	2.04%, 09/18/2034 (L)		78
	47	4.75%, 01/17/2034 (L)		45
	35	4.79%, 01/16/2035 (L)		34
		CS First Boston Mortgage Securities Corp.
	450	3.94%, 05/15/2038		383
		European Loan Conduit
GBP	59	6.11%, 11/01/2029 (I)(L)		77
		Ford Credit Automotive Owner Trust
	565	1.52%, 06/15/2010 (L)		556
		GE Commercial Loan Trust
	212	4.56%, 04/19/2015 — 07/19/2015 (I)(L)		206
		Goldman Sachs Mortgage Securities Corp. II
	110	2.40%, 03/06/2020 (I)(L)		66
		Heller Financial Commercial Mortgage Asset
	564	7.75%, 01/17/2034		564
		Interstar Millennium Trust
	323	4.39%, 07/07/2034 (L)		290
		Lanark Master Issuer plc
	69	2.20%, 07/22/2032 (I)(L)		69
		Medallion Trust
	92	1.72%, 12/21/2033 (L)		76
	188	2.24%, 02/27/2039 (L)		163
	83	2.29%, 05/25/2035 (L)		64
		Morgan Stanley Capital I
	375	5.23%, 09/15/2042		310
		National RMBS Trust
	242	1.64%, 03/20/2034 (L)		232
		New Century Home Equity Loan Trust
	8	0.76%, 03/25/2035 (L)		4
		Nissan Automotive Receivables Owner Trust
	370	5.03%, 05/16/2011		364
		Nomura Asset Securities Corp.
	19	6.59%, 03/15/2030		19
		Prudential Commercial Mortgage Trust
	570	4.49%, 02/11/2036		498
		USAA Automotive Owner Trust
	104	5.04%, 04/15/2010 (L)		104
		Wachovia Bank Commercial Mortgage Trust
	504	1.09%, 07/15/2042 (L)		438
		Westpac Securitisation Trust
	182	1.57%, 03/23/2036		174

		Total asset & commercial mortgage backed securities (cost $7,930)	$	7,285


CORPORATE BONDS: INVESTMENT GRADE — 30.9%
		Basic Materials — 0.6%
		Bayer AG
EUR	550	4.25%, 05/25/2009 (L)	$	766
GBP	100	5.63%, 05/23/2018		139
		Vale Overseas Ltd.
	410	6.25%, 01/23/2017 #		386

				1,291

		Capital Goods — 0.3%
		United Technologies Corp.
	595	2.27%, 06/01/2009 (L)#		593
		Xerox Corp.
	215	5.50%, 05/15/2012 #		180

				773

		Consumer Cyclical — 0.5%
		DaimlerChrysler NA Holdings Corp.
	485	4.88%, 06/15/2010 #		440
		Enterprise Inns plc
GBP	340	6.50%, 12/06/2018		327
		Home Depot, Inc.
	310	2.05%, 12/16/2009 (L)#		293

				1,060

		Consumer Staples — 1.1%
		Anheuser-Busch Cos., Inc.
	170	5.50%, 01/15/2018 #		155
		Cia Brasileira de Bebidas
	300	10.50%, 12/15/2011 #		329
		Diageo Capital plc
	430	5.20%, 01/30/2013 #		423
		Kellogg Co.
	430	4.25%, 03/06/2013 #		416
	325	5.13%, 12/03/2012 #		325
		Philip Morris International, Inc.
	520	5.65%, 05/16/2018 #		516
	195	6.38%, 05/16/2038 #		203

				2,367

		Energy — 0.9%
		Anadarko Petroleum Corp.
	510	2.40%, 09/15/2009 (L)#		488
		ConocoPhillips Australia Funding Co.
	684	4.42%, 04/09/2009 (L)#		683
		EnCana Corp.
	655	5.90%, 12/01/2017 #		547
		Gaz Capital S.A.
EUR	120	5.88%, 06/01/2015		104
		Petrobras International Finance Co.
	225	5.88%, 03/01/2018		202

				2,024

		Finance — 7.8%
		Ace INA Holdings, Inc.
	435	5.70%, 02/15/2017 #		390
		Allied World Assurance
	260	7.50%, 08/01/2016 #		183
		Aviva plc
	400	1.92%, 06/19/2017 (L)		277
		Bank of America Corp.
EUR	100	4.00%, 03/28/2018 (L)		111
		Caterpillar Financial Services Corp.
	370	4.25%, 02/08/2013 #		344
		COX Communications, Inc.
	440	4.63%, 06/01/2013 #		381
		Credit Suisse New York
	445	5.00%, 05/15/2013 #		428

The accompanying notes are an integral part of these financial statements.

Hartford Global Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount (B)			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Finance — (continued)
		Eaton Vance Corp.
$	125	6.50%, 10/02/2017 #	$	111
		ERAC USA Finance Co.
	425	3.71%, 04/30/2009 (I)(L)#		405
		European Investment Bank
EUR	795	3.63%, 10/15/2011		1,134
AUD	790	7.00%, 01/24/2012		600
		Goldman Sachs Group, Inc.
	300	6.15%, 04/01/2018 #		288
		HCP, Inc.
	565	6.70%, 01/30/2018 #		271
		Honda Canada Finance, Inc.
CAD	530	5.68%, 09/26/2012		431
		HSBC Holdings plc
	225	6.50%, 09/15/2037 #		229
	125	6.80%, 06/01/2038 #		132
		Institut Credito Oficial
AUD	850	5.50%, 03/08/2011		619
		International Lease Finance Corp.
	920	5.40%, 02/15/2012		642
		JP Morgan Chase Bank NA
	555	6.00%, 10/01/2017 #		560
		Kreditanstalt fuer Wiederaufbau
	1,470	3.25%, 02/15/2011 #		1,512
AUD	1,650	7.50%, 08/26/2011		1,258
		Metlife Global Funding
GBP	250	5.25%, 01/09/2014		313
		Mizuho Financial Group, Inc.
	525	5.79%, 04/15/2014 (I)#		466
		Morgan Stanley
	300	6.63%, 04/01/2018		263
		National Australia Bank Ltd.
EUR	220	4.50%, 06/23/2016 (L)		280
		National Rural Utilities Cooperative Finance Corp.
	750	5.50%, 07/01/2013 #		727
		New York Life Global Funding
EUR	535	3.75%, 10/19/2009		704
		Nordea Bank Finland plc
EUR	225	5.75%, 03/26/2014 (L)		294
		Northern Trust Co.
GBP	350	5.38%, 03/11/2015		466
		Oesterreichische Kontrollbank AG
	1,010	2.88%, 03/15/2011 #		1,025
		Principal Life Income Funding
	290	2.31%, 11/15/2010 (L)#		273
		Santander Central Hispano Issuances Ltd.
EUR	250	5.44%, 10/24/2017 (L)		315
		Southern Capital Corp.
	91	5.70%, 06/30/2022 (I)#		86
		Standard Chartered Bank
	425	6.40%, 09/26/2017 (I)#		354
		Temasek Financial I Ltd.
	1,505	4.50%, 09/21/2015 (I)#		1,531

				17,403

		Foreign Governments — 15.3%
		Australian Government
AUD	460	6.00%, 02/15/2017		375
		Belgium Kingdom
EUR	450	4.00%, 03/28/2017		641
EUR	150	5.00%, 03/28/2035		238
		Bonos Y Oblig del Estado
EUR	330	4.10%, 07/30/2018		470
		Bundesobligation
EUR	30	3.50%, 04/12/2013		44
		Buoni Poliennai Del Tes
EUR	980	4.25%, 04/15/2013		1,397
EUR	890	4.50%, 03/01/2019		1,242
		Caisse D’Amort Dette Soc
EUR	1,850	4.50%, 09/04/2013		2,732
		Canadian Government
CAD	525	5.75%, 06/01/2033		587
		Denmark (Kingdom of)
DKK	2,125	4.00%, 11/15/2015		417
		Deutschland Bundesrepublic
EUR	1,500	4.25%, 07/04/2018		2,315
EUR	1,110	4.75%, 07/04/2034		1,790
EUR	185	5.00%, 01/04/2012		279
		Finnish Government
EUR	75	4.38%, 07/04/2019		111
		France (Govt. of) O.A.T.
EUR	175	4.00%, 10/25/2038		257
EUR	325	4.25%, 10/25/2018		486
		French Government
EUR	1,980	4.00%, 04/25/2013		2,910
EUR	250	4.25%, 04/25/2019		373
		Government of Singapore
SGD	2,270	3.63%, 07/01/2014		1,760
		Hellenic Republic
EUR	175	4.30%, 07/20/2017		231
EUR	250	4.60%, 05/20/2013		343
		Irish Government
EUR	100	4.40%, 06/18/2019		138
		Japanese Government
JPY	600,100	1.80%, 06/20/2017		7,074
JPY	213,850	2.10%, 12/20/2027		2,500
		Netherlands Government
EUR	100	4.00%, 01/15/2037		146
EUR	225	5.50%, 01/15/2028		380
		Obrig Do Tes Medio Prazo
EUR	300	4.45%, 06/15/2018		433
		Poland Government
PLN	580	6.25%, 10/24/2015		204
		Republic of Austria
EUR	200	4.65%, 01/15/2018		298
EUR	75	6.25%, 07/15/2027		133
		South Africa (Republic of)
ZAR	2,750	8.25%, 09/15/2017		307
		Spain (Kingdom of)
EUR	350	4.20%, 07/30/2013		509
		Swedish Government
SEK	2,545	4.50%, 08/12/2015		370
		UK Treasury
GBP	825	4.25%, 03/07/2036		1,296
GBP	480	4.50%, 03/07/2013		758
		United Kingdom Government
GBP	215	5.00%, 03/07/2018		363
		United Mexican States
	240	5.95%, 03/19/2019		240

				34,147

		Health Care — 0.9%
		CVS Caremark Corp.
	375	2.50%, 06/01/2010 (L)#		345
	865	5.75%, 06/01/2017 #		814
		Schering-Plough Corp.
EUR	700	5.38%, 10/01/2014		912

				2,071

		Services — 0.3%
		Comcast Corp.
	800	5.12%, 07/14/2009 (L)#		789

The accompanying notes are an integral part of these financial statements.


Principal			Market
Amount (B)			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)
		Technology — 2.4%
		AT&T, Inc.
$	740	5.50%, 02/01/2018 #	$	748
		Cingular Wireless Services, Inc.
	475	7.88%, 03/01/2011 #		492
		Deutsche Telekom International Finance B.V.
	125	8.75%, 06/15/2030 #		154
		General Electric Co.
	630	5.00%, 02/01/2013 #		637
		OTE plc
EUR	390	5.38%, 02/14/2011		534
		Siemens Finance
	1,330	2.18%, 08/14/2009 (I)(L)#		1,331
		Time Warner Cable, Inc.
	935	5.85%, 05/01/2017 #		854
		Verizon Communications, Inc.
	240	4.35%, 02/15/2013 #		232
		Verizon New England, Inc.
	375	6.50%, 09/15/2011 #		372

				5,354

		Transportation — 0.4%
		Burlington Northern Santa Fe Corp.
	525	5.75%, 03/15/2018 #		506
		CSX Corp.
	355	5.75%, 03/15/2013 #		334

				840

		Utilities — 0.4%
		CenterPoint Energy Resources Corp.
	205	6.00%, 05/15/2018 #		170
		MidAmerican Energy Co.
	340	5.30%, 03/15/2018 #		335
		NSTAR
	300	8.00%, 02/15/2010 #		308

				813

		Total corporate bonds: investment grade (cost $70,055)	$	68,932


CORPORATE BONDS: NON-INVESTMENT GRADE — 0.1%
		Consumer Cyclical — 0.1%
		D.R. Horton, Inc.
$	295	8.00%, 02/01/2009 #	$	292

		Total corporate bonds: non-investment grade (cost $296)	$	292


U.S. GOVERNMENT AGENCIES — 8.8%
		Federal Home Loan Mortgage Corporation — 2.1%
		Mortgage Backed Securities:
$	2,265	5.00%, 2039 (Q)	$	2,315
	270	5.13%, 2029 (L)#		267
	578	5.50%, 2019 — 2039 #(Q)		594

				3,176

		Remic — Pac’s:
	1,632	1.55%, 2036 (L)#		1,544

				4,720

		Federal National Mortgage Association — 5.8%
		Mortgage Backed Securities:
	939	4.78%, 2014 (L)#		955
	1,492	4.98%, 2013 #		1,529
	3,902	5.00%, 2019 — 2038 #		4,009
	4,398	5.50%, 2034 — 2036 #		4,515
	1,618	6.50%, 2036 #		1,682
	6	7.00%, 2029		7

				12,697

		Remic — Pac’s:
	351	0.87%, 2036 (L)		323

				13,020

		Government National Mortgage Association — 0.9%
		Mortgage Backed Securities:
	1,082	5.00%, 2035 #		1,112
	336	6.00%, 2028 — 2035 #		348
	53	6.50%, 2028 #		56
	37	8.00%, 2029 — 2030 #		38

				1,554

		Remic — Pac’s:
	330	7.50%, 2035		356

				1,910

		Total U.S. government agencies (cost $19,161)	$	19,650


U.S. GOVERNMENT SECURITIES — 4.0%
		U.S. Treasury Securities — 4.0%
		U.S. Treasury Bonds:
$	795	4.50%, 2038 #	$	1,085
		U.S. Treasury Notes:
	4,800	2.00%, 2010 (S)		4,921
	1,410	3.88%, 2018 (S)		1,608
	1,130	4.88%, 2009 (S)		1,161

				7,690

		Total U.S. government securities (cost $8,395)	$	8,775

		Total long-term investments (cost $253,702)	$	218,786


SHORT-TERM INVESTMENTS — 0.6%
		Repurchase Agreements — 0.6%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1, collateralized by U.S. Treasury Note 4.50%, 2009, value of $1)
$	1	0.03% dated 12/31/2008	$	1
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $466, collateralized by FNMA 5.00%, 2035 — 2038, value of $475)
	466	0.08% dated 12/31/2008		466
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $21, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $21)
	21	0.07% dated 12/31/2008		21
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $450, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $459)
	450	0.10% dated 12/31/2008		450
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $414, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $423)
	414	0.05% dated 12/31/2008		414

The accompanying notes are an integral part of these financial statements.

Hartford Global Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $56, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $57)
$	56	0.07% dated 12/31/2008			$	56

		Total short-term investments (cost $1,408)			$	1,408

		Total investments (cost $255,110) (C)	98.7	%	$	220,194
		Other assets and liabilities	1.3	%		2,926

		Total net assets	100.0	%	$	223,120


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 45.28% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $257,800 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	4,977
Unrealized Depreciation		(42,583	)

Net Unrealized Depreciation	$	(37,606	)


#		This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $4,591, which represents 2.06% of total net assets.

(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(Q)		The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2008 was $2,590.

(B)		All principal amounts are in U.S. dollars unless otherwise indicated.


AUD		— Australian Dollar
CAD		— Canadian Dollar
DKK		— Danish Krone
EUR		— Euro
GBP		— British Pound
JPY		— Japanese Yen
PLN		— Polish New Zloty
SEK		— Swedish Krona
SGD		— Singapore Dollar
ZAR		— South African Rand


(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

Futures Contracts Outstanding at December 31, 2008


							Unrealized
	Number of				Expiration		Appreciation/
Description	Contracts*		Position		Month		(Depreciation)

2 Year U.S. Treasury Note		48		Long		Mar 2009	$	91
5 Year U.S. Treasury Note		178		Short		Mar 2009		(282	)
10 Year U.S. Treasury Note		89		Short		Mar 2009		(304	)
90 Day Euro		70		Long		Mar 2009		24
90 Day Euro		12		Short		Mar 2009		(25	)
AUST 3 Year Bond		37		Short		Mar 2009		(26	)
Canadian 10 Year Bond		6		Long		Mar 2009		15
DJ Euro STOXX 50		33		Long		Mar 2009		6
Euro Bond		10		Short		Mar 2009		(14	)
Euro Bond		19		Short		Mar 2009		(12	)
Euro BUXL 30 Year Bond		2		Long		Mar 2009		—
Euro-Schatz		65		Long		Mar 2009		35
FTSE 100 IDX		13		Long		Mar 2009		28
Japan 10Y Bond		3		Short		Mar 2009		(30	)
Long Gilt		7		Short		Mar 2009		(29	)
S&P/TSE 60 Index		4		Long		Mar 2009		7
Topix Index		2		Long		Mar 2009		10
U.S. Long Bond		4		Long		Mar 2009		(12	)

							$	(518	)


		* The number of contracts does not omit 000’s.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Australian Dollar (Sell)	$	88	$	85		01/06/09	$	(3	)
Australian Dollar (Buy)		2,663		2,491		03/18/09		172
Australian Dollar (Sell)		156		156		03/18/09		—
Australian Dollar (Sell)		5,579		5,113		03/18/09		(466	)
British Pound (Sell)		214		212		01/05/09		(2	)
British Pound (Buy)		1,429		1,508		03/18/09		(79	)
British Pound (Sell)		5,045		5,484		03/18/09		439
British Pound (Buy)		801		855		03/20/09		(54	)
Canadian Dollar (Buy)		195		195		01/05/09		—
Canadian Dollar (Buy)		789		776		03/18/09		13
Canadian Dollar (Buy)		1,073		1,103		03/18/09		(30	)
Canadian Dollar (Sell)		2,034		2,101		03/18/09		67
Canadian Dollar (Sell)		957		947		03/18/09		(10	)
Canadian Dollar (Buy)		496		494		03/19/09		2
Canadian Dollar (Buy)		259		264		03/19/09		(5	)
Canadian Dollar (Sell)		425		434		03/19/09		9
Chilean Peso (Buy)		62		61		01/23/09		1
Chilean Peso (Sell)		72		71		01/23/09		(1	)
Chinese Renminbi (Buy)		299		293		09/02/09		6
Chinese Renminbi (Buy)		1,768		1,815		09/02/09		(47	)
Chinese Renminbi (Sell)		1,000		1,008		09/02/09		8
Chinese Renminbi (Sell)		1,067		1,052		09/02/09		(15	)
Czech Koruna (Buy)		522		503		03/18/09		19
Czech Koruna (Buy)		102		102		03/18/09		—
Czech Koruna (Sell)		443		454		03/18/09		11
Czech Koruna (Sell)		706		675		03/18/09		(31	)
Danish Krone (Sell)		53		53		01/02/09		—
Danish Krone (Sell)		112		113		01/06/09		1
Danish Krone (Buy)		74		73		03/18/09		1
Danish Krone (Buy)		87		90		03/18/09		(3	)
Danish Krone (Sell)		52		52		03/18/09		—
Danish Krone (Sell)		2,208		2,003		03/18/09		(205	)
Euro (Buy)		53		54		01/02/09		(1	)
Euro (Buy)		54		55		01/05/09		(1	)
Euro (Sell)		203		205		01/05/09		2
Euro (Sell)		47		47		01/05/09		—
Euro (Sell)		96		97		01/06/09		1
Euro (Sell)		1,147		1,155		01/07/09		8
Euro (Sell)		32		32		01/07/09		—
Euro (Buy)		21,753		19,819		03/18/09		1,934
Euro (Buy)		1,277		1,293		03/18/09		(16	)
Euro (Sell)		1,264		1,286		03/18/09		22
Euro (Sell)		44,671		41,130		03/18/09		(3,541	)
Euro (Buy)		1,101		1,093		03/20/09		8

The accompanying notes are an integral part of these financial statements.


(continued)
Forward Foreign Currency Contracts Outstanding at December 31, 2008
							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Euro (Buy)	$	439	$	405		09/02/09	$	34
Euro (Buy)		261		273		09/02/09		(12	)
Euro (Sell)		527		544		09/02/09		17
Hong Kong Dollar (Sell)		45		45		01/05/09		—
Hungarian Forint (Buy)		105		96		03/18/09		9
Hungarian Forint (Sell)		114		105		03/18/09		(9	)
Indian Rupee (Buy)		127		122		01/23/09		5
Indian Rupee (Sell)		101		101		01/23/09		—
Israeli New Shekel (Buy)		71		72		03/18/09		(1	)
Israeli New Shekel (Sell)		61		59		03/18/09		(2	)
Japanese Yen (Sell)		37		37		01/07/09		—
Japanese Yen (Buy)		1,706		1,669		03/12/09		37
Japanese Yen (Sell)		732		754		03/12/09		22
Japanese Yen (Sell)		822		809		03/12/09		(13	)
Japanese Yen (Buy)		3,437		3,266		03/18/09		171
Japanese Yen (Buy)		118		119		03/18/09		(1	)
Japanese Yen (Sell)		729		730		03/18/09		1
Japanese Yen (Sell)		12,958		12,323		03/18/09		(635	)
Malaysian Ringgit (Buy)		419		408		03/18/09		11
Malaysian Ringgit (Sell)		419		396		03/18/09		(23	)
Mexican New Peso (Buy)		152		162		03/18/09		(10	)
Mexican New Peso (Sell)		93		94		03/18/09		1
New Romanian Leu (Buy)		233		234		03/18/09		(1	)
New Romanian Leu (Sell)		432		404		03/18/09		(28	)
New Zealand Dollar (Buy)		1,462		1,374		03/18/09		88
New Zealand Dollar (Sell)		234		241		03/18/09		7
New Zealand Dollar (Sell)		923		875		03/18/09		(48	)
Norwegian Krone (Sell)		27		26		01/02/09		(1	)
Norwegian Krone (Sell)		59		58		01/06/09		(1	)
Norwegian Krone (Buy)		283		281		03/18/09		2
Norwegian Krone (Buy)		1,214		1,242		03/18/09		(28	)
Norwegian Krone (Sell)		616		636		03/18/09		20
Norwegian Krone (Sell)		868		843		03/18/09		(25	)
Polish Zloty (Buy)		134		138		03/18/09		(4	)
Polish Zloty (Sell)		55		56		03/18/09		1
Polish Zloty (Sell)		245		239		03/18/09		(6	)
Republic of Korea Won (Buy)		81		76		03/18/09		5
Republic of Korea Won (Sell)		142		140		03/18/09		(2	)
Russian Ruble (Buy)		233		248		01/23/09		(15	)
Russian Ruble (Sell)		188		201		01/23/09		13
Russian Ruble (Sell)		61		68		03/18/09		7
Saudi Arabian Riyal (Buy)		196		198		06/04/09		(2	)
Saudi Arabian Riyal (Sell)		196		196		06/04/09		—
Singapore Dollar (Buy)		180		174		03/18/09		6
Singapore Dollar (Sell)		1,864		1,803		03/18/09		(61	)
South African Rand (Buy)		486		450		03/18/09		36
South African Rand (Sell)		530		483		03/18/09		(47	)
Swedish Krona (Buy)		279		275		03/18/09		4
Swedish Krona (Buy)		257		263		03/18/09		(6	)
Swedish Krona (Sell)		695		707		03/18/09		12
Swedish Krona (Sell)		276		272		03/18/09		(4	)
Swiss Franc (Sell)		342		345		01/06/09		3
Swiss Franc (Buy)		2,167		1,926		03/18/09		241
Swiss Franc (Sell)		2,148		1,923		03/18/09		(225	)
Taiwanese Dollar (Buy)		59		59		01/23/09		—
Taiwanese Dollar (Sell)		57		57		01/23/09		—
United Arab Emirates Dirham (Buy)		195		199		06/04/09		(4	)
United Arab Emirates Dirham (Sell)		195		194		06/04/09		(1	)

							$	(2,248	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets
Australia		1.9	%


Austria		0.7


Belgium		0.4


Brazil		0.6


Canada		2.6


China		0.5


Denmark		1.4


Finland		0.1


France		5.6


Germany		5.7


Greece		0.5


Ireland		0.1


Israel		1.1


Italy		1.2


Japan		6.8


Luxembourg		1.2


Mexico		0.1


Netherlands		1.0


Norway		0.6


Poland		0.1


Portugal		0.2


Russia		0.3


Singapore		1.5


South Africa		0.1


Spain		2.0


Sweden		0.2


Switzerland		3.4


United Kingdom		5.6


United States		52.6


Short-Term Investments		0.6


Other Assets and Liabilities		1.3


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

Hartford Global Equity HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 97.8%
		Automobiles & Components — 1.3%
	23	Ford Motor Co. (D)	$	54
	27	Honda Motor Co., Ltd.		576
	6	Michelin (C.G.D.E.) Class B		300
	5	Peugeot S.A.		90

				1,020

		Banks — 7.7%
	16	Banco Bilbao Vizcaya Argentaria S.A.		193
	39	Banco do Estado do Rio Grande do Sul S.A.		95
	37	Banco Itau Holding Financeira S.A. ADR		425
	120	Bangkok Bank plc		243
	9	Bank of Nova Scotia		247
	3	BNP Paribas		135
	68	Citizens Republic Bancorp, Inc.		201
	16	Commerzbank AG		159
	65	DBS Group Holdings Ltd.		386
	32	DBS Group Holdings Ltd. Rights (H)		68
	61	DNB Nor ASA		244
	21	First National Financial, Inc.		180
	3	HDFC Bank Ltd. ADR		207
	5	KBC Groep N.V.		162
	45	Mitsubishi UFJ Financial Group, Inc.		280
	45	National City Corp.		82
	5	PNC Financial Services Group, Inc.		265
	42	Popular, Inc.		216
	7	Societe Generale Class A		363
	15	Sparebanken Midt-Norge		65
	45	Standard Chartered plc		583
	12	Sydbank A/S		145
	2	Toronto-Dominion Bank		71
	13	Toronto-Dominion Bank ADR		449
	46	Washington Mutual, Inc. Private Placement (A)(H)		1
	10	Webster Financial Corp.		132
	18	Wells Fargo & Co.		537

				6,134

		Capital Goods — 6.3%
	1	Alstom RGPT		46
	2	AMETEK, Inc.		50
	3	Atlas Copco Ab		26
	16	BAE Systems plc		87
	1	Carlisle Cos., Inc.		17
	6	Caterpillar, Inc.		268
	117	China Communications Construction Co., Ltd.		146
	4	Cubic Corp.		99
	9	Danaher Corp.		521
	—	Flowserve Corp.		19
	1	General Dynamics Corp.		51
	45	General Electric Co.		723
	41	Hino Motors Ltd.		84
	5	Hochtief AG		259
	10	Honeywell International, Inc.		343
	3	Illinois Tool Works, Inc.		113
	1	Ingersoll-Rand Co. Class A		16
	7	Lockheed Martin Corp.		557
	5	Pentair, Inc.		126
	2	Precision Castparts Corp.		91
	3	Rockwell Automation, Inc.		92
	4,010	Rolls-Royce Group — C Share Entitlement (A)(H)		—
	65	Rolls-Royce Group plc		325
	8	Shanghai Industrial Holdings Ltd.		18
	8	Siemens AG		637
	—	SPX Corp.		20
	3	United Technologies Corp.		134
	3	Vinci S.A.		108
	10	Volvo Ab Class B		59

				5,035

		Commercial & Professional Services — 0.0%
	1	Manpower, Inc.		23

		Consumer Durables & Apparel — 0.2%
	1	Adidas-Salomon AG		52
	247	China Dongxiang Group Co.		60
	1	CIE Financiere Richemont S.A.		20
	15	Peace Mark Holdings Ltd. (A)(H)		—
	1	Under Armour, Inc. Class A (D)		30

				162

		Consumer Services — 0.4%
	1	ITT Educational Services, Inc. (D)		52
	703	NagaCorp Ltd.		98
	2	Orascom Development Holding AG (D)		50
	5	Royal Caribbean Cruises Ltd.		74
	46	Shangri-La Asia Ltd.		53

				327

		Diversified Financials — 4.4%
	22	African Bank Investments Ltd.		59
	9	Ameriprise Financial, Inc.		212
	9	Bank of America Corp.		129
	26	BM & F Bovespa S.A.		68
	8	Capital One Financial Corp.		255
	16	Citigroup, Inc.		110
	8	Deutsche Boerse AG		570
	32	Discover Financial Services, Inc.		300
	6	Goldman Sachs Group, Inc.		493
	1	Groupe Bruxelles Lambert S.A.		86
	5	Invesco Ltd.		78
	7	JP Morgan Chase & Co.		205
	16	Julius Baer Holding Ltd.		612
	6	MSCI, Inc. (D)		112
	16	UBS AG (D)		231

				3,520

		Energy — 10.8%
	5	Baker Hughes, Inc.		155
	15	BG Group plc		217
	11	BP plc ADR		509
	3	Cabot Oil & Gas Corp.		67
	16	Canadian Natural Resources Ltd. ADR		656
	5	Canadian Oil SandsTrust		80
	4	Chesapeake Energy Corp.		57
	3	Chevron Corp.		258
	3	ConocoPhillips Holding Co.		158
	3	Consol Energy, Inc.		80
	1	Devon Energy Corp.		92
	9	Enbridge Energy Management (D)		225

The accompanying notes are an integral part of these financial statements.

Hartford Global Equity HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Energy — (continued)
	3	EnCana Corp.	$	125
	3	Eni S.p.A. ADR		137
	6	EOG Resources, Inc.		418
	6	Exxon Mobil Corp.		512
	7	Halliburton Co.		127
	2	Hess Corp.		89
	3	Husky Energy, Inc.		65
	41	Lundin Petroleum Ab (D)		222
	4	Marathon Oil Corp.		98
	2	Newfield Exploration Co. (D)		39
	10	Noble Energy, Inc.		487
	32	OAO Gazprom Class S ADR		459
	6	Occidental Petroleum Corp.		359
	13	OMV AG		357
	2	Peabody Energy Corp.		50
	3	Petro-Canada		61
	6	Petroleo Brasileiro S.A. ADR		135
	3	Range Resources Corp.		103
	7	Reliance Industries GDR (I)		379
	4	Royal Dutch Shell plc ADR		223
	4	Schlumberger Ltd.		181
	7	Seadrill Ltd.		55
	6	StatoilHydro ASA-ADR		97
	4	Suncor Energy, Inc. ADR		86
	6	Talisman Energy, Inc.		63
	7	Total S.A.		381
	5	Total S.A. ADR		273
	2	Transocean, Inc. (D)		77
	3	Valero Energy Corp.		70
	12	Weatherford International Ltd. (D)		127
	2	Williams Cos., Inc.		29
	3	Woodside Petroleum Ltd.		74
	3	XTO Energy, Inc.		97

				8,609

		Food & Staples Retailing — 1.7%
	2	CVS/Caremark Corp.		50
	11	Seven & I Holdings Co., Ltd.		382
	6	Walgreen Co.		146
	14	Wal-Mart Stores, Inc.		790

				1,368

		Food, Beverage & Tobacco — 8.1%
	3	Carlsberg A/S Class B		90
	32	China Mengniu Dairy Co.		42
	2	Coca-Cola Co.		72
	6	Coca-Cola Enterprises, Inc.		69
	5	Cockatoo Ridge Wines		—
	1	Hormel Foods Corp.		20
	—	Japan Tobacco, Inc.		1,542
	—	Molson Coors Brewing Co.		23
	38	Nestle S.A.		1,488
	4	Pepsi Bottling Group, Inc.		88
	2	PepsiCo, Inc.		85
	1	Pernod-Ricard		79
	11	Philip Morris International, Inc.		482
	104	Premier Foods plc		46
	2	Ralcorp Holdings, Inc. (D)		96
	7	Sadia S.A. ADR		34
	3	Smithfield Foods, Inc. (D)		45
	9	Sunopta, Inc. (D)		15
	45	Swedish Match Ab		662
	9	Tyson Foods, Inc. Class A		80
	57	Unilever N.V. CVA		1,381
	186	Yantai North Andre		7

				6,446

		Health Care Equipment & Services — 4.0%
	2	Baxter International, Inc.		102
	1	Beckman Coulter, Inc.		22
	3	Cardinal Health, Inc.		96
	7	Coventry Health Care, Inc. (D)		105
	11	Covidien Ltd.		396
	3	Eclipsys Corp. (D)		41
	17	Health Management Associates, Inc. Class A (D)		30
	3	Humana, Inc. (D)		120
	13	McKesson Corp.		494
	19	Medtronic, Inc.		606
	4	St. Jude Medical, Inc. (D)		124
	1	Synthes, Inc.		128
	33	UnitedHealth Group, Inc.		883

				3,147

		Household & Personal Products — 0.8%
	7	Avon Products, Inc.		177
	2	Beiersdorf AG		145
	—	Herbalife Ltd.		9
	7	Reckitt Benckiser Group plc		276

				607

		Insurance — 3.7%
	18	ACE Ltd.		943
	2	Admiral Group plc		25
	17	AXA S.A.		389
	7	Everest Re Group Ltd.		501
	7	Marsh & McLennan Cos., Inc.		160
	14	MetLife, Inc.		497
	7	Paris RE Holdings Ltd.		96
	2	Prudential Financial, Inc.		54
	7	Travelers Cos., Inc.		316

				2,981

		Materials — 6.7%
	10	Agrium, Inc.		346
	5	BHP Billiton Ltd. ADR		207
	34	BHP Billiton plc		679
	10	Celanese Corp.		119
	80	Companhia Vale do Rio Doce ADR		967
	4	CRH plc		97
	8	Eurasian Natural Resources Corp.		38
	7	FMC Corp.		313
	3	Freeport-McMoRan Copper & Gold, Inc.		67
	421	Huabao International Holdings Ltd.		277
	5	Monsanto Co.		325
	3	Mosaic Co.		89
	152	OZ Minerals Ltd. (A)(H)		16
	3	Potash Corp. of Saskatchewan, Inc.		190
	3	Potash Corp. of Saskatchewan, Inc. ADR		228
	3	Praxair, Inc.		182

The accompanying notes are an integral part of these financial statements.


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Materials — (continued)
	25	Rexam plc	$	129
	28	Rhodia S.A.		180
	8	Sealed Air Corp.		117
	5	Shin-Etsu Chemical Co., Ltd.		250
	61	Smurfit-Stone Container Corp. (D)		16
	63	Sumitomo Metal Industries		157
	1	Syngenta AG		129
	6	Umicore		119
	13	Vedanta Resources plc		120

				5,357

		Media — 2.1%
	1	Arbitron, Inc.		12
	7	Comcast Corp. Class A		114
	2	DirecTV Group, Inc. (D)		56
	2	DreamWorks Animation SKG, Inc. (D)		61
	2	Elsevier N.V.		22
	7	Focus Media Holding Ltd. ADR (D)		61
	9	Informa Group plc		31
	3	Interpublic Group of Cos., Inc. (D)		11
	—	Marvel Entertainment, Inc. (D)		12
	1	McGraw-Hill Cos., Inc.		24
	3	News Corp. Class A		24
	1	Omnicom Group, Inc.		30
	10	Reed Elsevier plc		77
	2	Regal Entertainment Group		22
	—	Scripps Networks Interactive Class A		10
	15	SES Global S.A.		290
	9	Time Warner, Inc.		87
	24	Viacom, Inc. Class B (D)		455
	4	Vivendi S.A.		123
	5	Walt Disney Co.		123

				1,645

		Pharmaceuticals, Biotechnology & Life Sciences — 11.5%
	7	Abbott Laboratories		387
	6	Amgen, Inc. (D)		367
	7	Amylin Pharmaceuticals, Inc. (D)		79
	11	Astellas Pharma, Inc.		460
	6	AstraZeneca plc		248
	10	AstraZeneca plc ADR		411
	10	Bristol-Myers Squibb Co.		234
	2	Celgene Corp. (D)		133
	4	Cephalon, Inc. (D)		289
	13	Daiichi Sankyo Co., Ltd.		306
	22	Eisai Co., Ltd.		917
	20	Elan Corp. plc ADR (D)		121
	15	Eli Lilly & Co.		609
	7	Forest Laboratories, Inc. (D)		174
	3	Genentech, Inc. (D)		228
	3	H. Lundbeck A/S		59
	2	Ipsen		87
	5	Laboratorios Almiral S.A.		41
	7	Medicines Co. (D)		104
	6	Merck & Co., Inc.		188
	2	OSI Pharmaceuticals, Inc. (D)		69
	6	Regeneron Pharmaceuticals, Inc. (D)		116
	4	Sanofi-Aventis S.A.		279
	10	Sanofi-Aventis S.A. ADR		329
	53	Schering-Plough Corp.		897
	10	Shionogi & Co., Ltd.		258
	15	Teva Pharmaceutical Industries Ltd. ADR		657
	9	UCB S.A.		307
	3	Vertex Pharmaceuticals, Inc. (D)		100
	3	Watson Pharmaceuticals, Inc. (D)		83
	15	Wyeth		579

				9,116

		Real Estate — 1.8%
	1	AMB Property Corp.		28
	—	Boston Properties, Inc.		14
	46	Brasil Brokers Participacoes (D)		33
	4	British Land Co. plc		32
	2	Brookfield Asset Management, Inc.		35
	1	Brookfield Properties Corp.		6
	75	China Overseas Land & Investment Ltd.		106
	3	China Overseas Land & Investment Ltd. Rights (H)		1
	17	China Resources Land Ltd.		21
	1	Derwent London plc		7
	1	Douglas Emmett, Inc.		17
	1	Forest City Enterprises, Inc. Class A		5
	1	General Growth Properties, Inc.		2
	1	Hammerson plc		10
	21	Host Hotels & Resorts, Inc.		160
	2	Kerry Properties Ltd.		4
	4	Kimco Realty Corp.		68
	24	Mitsubishi Estate Co., Ltd.		396
	4	Mitsui Fudosan Co., Ltd.		67
	—	Ntt Urban Development Corp.		10
	1	Regency Centers Corp.		23
	—	Simon Property Group, Inc.		20
	19	Sino-Ocean Land Holdings Ltd.		8
	—	Spazio Investment N.V.		—
	3	Sun Hung Kai Properties Ltd.		22
	2	Unibail		317
	1	Vornado Realty Trust		36

				1,448

		Retailing — 3.2%
	2	Abercrombie & Fitch Co. Class A		39
	1	Advance Automotive Parts, Inc.		42
	4	American Eagle Outfitters, Inc.		40
	2	AutoZone, Inc. (D)		273
	10	Best Buy Co., Inc.		292
	2	China Resources Enterprise		3
	4	Collective Brands, Inc. (D)		50
	1	Dufry Group		40
	4	Foot Locker, Inc.		31
	33	Gap, Inc.		447
	74	Golden Eagle Retail Group Ltd.		52
	2	Hennes & Mauritz Ab		73
	7	Home Depot, Inc.		166
	4	Hot Topic, Inc. (D)		36
	11	Kingfisher plc		23
	4	Kohl’s Corp. (D)		141
	5	Macy’s, Inc.		47

The accompanying notes are an integral part of these financial statements.

Hartford Global Equity HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Retailing — (continued)
	18	Marks & Spencer Group plc	$	58
	1	Next plc		22
	1	Pinault-Printemps-Redoute S.A.		63
	2	Ross Stores, Inc.		72
	20	Staples, Inc.		350
	1	Target Corp.		43
	3	TJX Cos., Inc.		54
	11	Ulta Salon, Cosmetics & Fragrances, Inc. (D)		93

				2,550

		Semiconductors & Semiconductor Equipment — 2.0%
	9	Altera Corp.		143
	3	Analog Devices, Inc.		57
	3	Atheros Communications, Inc. (D)		37
	11	Intel Corp.		157
	4	Lam Research Corp. (D)		89
	3	Linear Technology Corp.		55
	11	Marvell Technology Group Ltd. (D)		74
	16	Maxim Integrated Products, Inc.		182
	18	ON Semiconductor Corp. (D)		60
	—	Samsung Electronics Co., Ltd.		89
	12	Skyworks Solutions, Inc. (D)		67
	43	Taiwan Semiconductor Manufacturing Co., Ltd.		58
	22	Texas Instruments, Inc.		334
	10	Xilinx, Inc.		172

				1,574

		Software & Services — 5.7%
	12	Accenture Ltd. Class A		403
	9	Automatic Data Processing, Inc.		357
	2	BMC Software, Inc. (D)		48
	4	DST Systems, Inc. (D)		162
	20	Electronic Arts, Inc. (D)		326
	3	Equinix, Inc. (D)		168
	2	Google, Inc. (D)		551
	2	Intuit, Inc. (D)		43
	2	McAfee, Inc. (D)		63
	64	Microsoft Corp.		1,243
	43	Moneysupermarket.com		33
	—	Nintendo Co., Ltd.		23
	12	Oracle Corp. (D)		220
	5	Red Hat, Inc. (D)		71
	3	VeriSign, Inc. (D)		67
	5	Visa, Inc.		249
	35	Western Union Co.		504

				4,531

		Technology Hardware & Equipment — 2.9%
	4	Canon, Inc.		130
	14	Cisco Systems, Inc. (D)		228
	20	Corning, Inc.		194
	11	Dell, Inc. (D)		114
	19	Hewlett-Packard Co.		699
	77	Hon Hai Precision Industry Co., Ltd.		152
	18	Hon Hai Precision Industry Co., Ltd. GDR (K)		69
	6	NetApp, Inc. (D)		78
	15	Qualcomm, Inc.		552
	2	Research In Motion Ltd. (D)		73
	2	Yaskawa Electric Corp.		9

				2,298

		Telecommunication Services — 4.1%
	4	AFK Sistema GDR		24
	1	America Movil S.A.B. de C.V. ADR		36
	2	American Tower Corp. Class A (D)		61
	1	AT&T, Inc.		41
	5	Brasil Telecom S.A. ADR		94
	2	Cellcom Israel Ltd.		33
	1	China Mobile Ltd.		14
	11	Deutsche Telekom AG		161
	6	France Telecom S.A.		177
	5	Millicom International Cellular S.A.		216
	17	Mobile Telesystems OJSC ADR		444
	26	MTN Group Ltd.		301
	7	NII Holdings, Inc. Class B (D)		119
	3	P.T. Telekomunikasi Indonesia ADR		75
	5	Partner Communications Co., Ltd. ADR		89
	12	Qwest Communications International, Inc.		42
	4	Tele Norte Leste Participacoes S.A. ADR		49
	2	Telecom de Argentina ADR (D)		18
	88	Telecom Italia S.p.A.		101
	1	Telefonica S.A.		25
	7	Telefonica S.A. ADR		452
	1	Telus Corp.		28
	37	Turkcell Iletisim Hizmetleri AS ADR		536
	6	TW Telecom, Inc. (D)		50
	14	Vimpel-Communications ADR		102

				3,288

		Transportation — 3.6%
	9	C.H. Robinson Worldwide, Inc.		485
	44	Covenant Transport (D)		88
	9	Delta Air Lines, Inc. (D)		102
	11	easyJet plc (D)		47
	11	FedEx Corp.		733
	8	Forward Air Corp.		198
	10	Hub Group, Inc. (D)		260
	1	Iino Kaiun Kaisha Ltd.		6
	4	J.B. Hunt Transport Services, Inc.		99
	1	Japan Airport Terminal		15
	20	JetBlue Airways Corp. (D)		143
	4	Kuehne & Nagel International AG		274
	71	PLUS Expressways Berhad		62
	2	Ryanair Holdings plc ADR (D)		64
	15	Saia, Inc. (D)		163
	14	US Airways Group, Inc. (D)		107

				2,846

		Utilities — 4.8%
	2	CenterPoint Energy, Inc.		21
	7	Companhia Energetica de Minas Gerais ADR		97
	1	DPL, Inc.		31
	23	E.On AG		903
	1	Electricite de France		46
	307	Energy Development Corp.		13
	3	Equitable Resources, Inc.		94

The accompanying notes are an integral part of these financial statements.


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Utilities — (continued)
	14	Exelon Corp.			$	765
	5	FirstEnergy Corp.				250
	5	Fortum Corp.				109
	1	FPL Group, Inc.				28
	7	Gaz de France				348
	8	International Power plc				29
	5	N.V. Energy, Inc.				45
	35	National Grid plc				352
	4	Northeast Utilities				107
	1	PPL Corp.				42
	—	Progress Energy, Inc.				18
	2	Questar Corp.				72
	2	Southern Co.				67
	35	Tokyo Gas Co., Ltd.				178
	3	UniSource Energy Corp.				80
	1	Wisconsin Energy Corp.				35
	4	Xcel Energy, Inc.				78
	40	YTL Power International Berhad				22

						3,830

		Total common stock (cost $108,305)			$	77,862



WARRANTS — 0.1%
		Banks — 0.0%
	6	Washington Mutual, Inc. Private Placement (A)(H)			$	—

		Energy — 0.0%
	2	Deutsche — CW17 Oil & Natural Gas Corp. (H)				24
	—	Reliance Industries (D)(H)				1

						25

		Telecommunication Services — 0.1%
	6	Citigroup Global Certificate — Bharti Televentures (H)				91

		Total warrants (cost $115)			$	116



EXCHANGE TRADED FUNDS — 0.2%
		Other Investment Pools and Funds — 0.2%
	3	iShares MSCI EAFE Index Fund			$	135

		Total exchange traded funds (cost $128)			$	135



PREFERRED STOCK — 0.1%
		Banks — 0.0%
	2	Banco Itau Holding			$	28

		Telecommunication Services — 0.1%
	4	Telemar Norte Leste S.A.				86

		Total preferred stock (cost $223)			$	114


Principal
Amount

CORPORATE BONDS: INVESTMENT GRADE — 0.0%
		Finance — 0.0%
		Boston Properties
$	1	2.88%, 02/15/2037 (X)			$	1
		ERP Operating L.P.
	5	5.75%, 06/15/2017				3
		Kimco Realty Corp.
	13	5.70%, 05/01/2017				8
		Simon Property Group L.P.
	4	5.10%, 06/15/2015				3
	3	5.88%, 03/01/2017				2
	5	6.13%, 05/30/2018				3

		Total corporate bonds: investment grade (cost $21)			$	20


CORPORATE BONDS: NON-INVESTMENT GRADE — 0.0%
		Finance — 0.0%
		Forest City Enterprises, Inc.
$	6	3.63%, 10/15/2011 (X)			$	3

		Total corporate bonds: non-investment grade (cost $3)			$	3

		Total long-term investments (cost $108,795)			$	78,250


SHORT-TERM INVESTMENTS — 1.9%
		Repurchase Agreements — 1.9%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1, collateralized by U.S. Treasury Note 4.50%, 2009, value of $1)
$	1	0.03% dated 12/31/2008			$	1
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $488, collateralized by FNMA 5.00%, 2035 — 2038, value of $498)
	488	0.08% dated 12/31/2008				488
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $22, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $22)
	22	0.07% dated 12/31/2008				22
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $472, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $482)
	472	0.10% dated 12/31/2008				472
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $435, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $443)
	435	0.05% dated 12/31/2008				435
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $59, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $60)
	59	0.07% dated 12/31/2008				59

		Total short-term investments (cost $1,477)			$	1,477

		Total investments (cost $110,272) (C)	100.1	%	$	79,727
		Other assets and liabilities	(0.1	)%		(92	)

		Total net assets	100.0	%	$	79,635

The accompanying notes are an integral part of these financial statements.

Hartford Global Equity HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 47.63% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $113,376 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	1,309
Unrealized Depreciation		(34,958	)

Net Unrealized Depreciation	$	(33,649	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $17, which represents 0.02% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $379, which represents 0.48% of total net assets.

(K)		Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At December 31, 2008, the market value of these securities amounted to $69 or 0.09% of net assets.

(X)		Convertible security.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
12/2008		3	China Overseas Land & Investment Ltd. Rights	$	—
09/2005 -		6	Citigroup Global Certificate — Bharti
09/2008			Televentures - 144A		72
12/2008		32	DBS Group Holdings Ltd. Rights		—
07/2008 -		2	Deutsche — CW17 Oil & Natural Gas
08/2008			Corp. - 144A		42
02/2008 -		152	OZ Minerals Ltd.		269
09/2008
01/2008 -		15	Peace Mark Holdings Ltd.		16
07/2008
06/2008		—	Reliance Industries Warrants - 144A		2
08/2008 -		4,010	Rolls-Royce Group — C Share
09/2008			Entitlement		10
04/2008		46	Washington Mutual, Inc. Private Placement		400
07/2008		6	Washington Mutual, Inc. Private Placement Warrants		—


		The aggregate value of these securities at December 31, 2008 was $202 which represents 0.25% of total net assets.

Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

90 Day Euro

Long

Mar 2009


*	The number of contracts does not omit 000’s.

Cash of $15 was pledged as initial margin deposit for open futures contracts at December 31, 2008.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)
Australian Dollar (Buy)	$	6	$	6		03/06/09	$	—
British Pound (Buy)		4		4		01/07/09		—
British Pound (Sell)		10		12		01/07/09		2
British Pound (Sell)		26		27		03/06/09		1
Euro (Buy)		65		66		01/02/09		(1	)
Euro (Buy)		200		202		01/05/09		(2	)
Euro (Sell)		9		9		01/05/09		—
Euro (Buy)		22		20		01/07/09		2
Euro (Sell)		38		38		01/07/09		—
Hong Kong Dollar (Buy)		62		62		01/05/09		—
Japanese Yen (Buy)		58		51		01/07/09		7
Japanese Yen (Sell)		27		26		01/07/09		(1	)
Swedish Krona (Sell)		14		14		01/05/09		—

							$	8


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets
Australia		0.4	%


Austria		0.4


Belgium		0.8


Brazil		2.7


Canada		3.8


China		0.4


Denmark		0.4


Finland		0.1


France		5.2


Germany		3.6


Hong Kong		0.7


India		0.9


Indonesia		0.1


Ireland		0.4


Israel		0.9


Italy		0.3


Japan		7.5


Luxembourg		0.7


Malaysia		0.1


Netherlands		1.7


Norway		0.6


Russia		1.3


Singapore		0.6


South Africa		0.5


South Korea		0.1


Spain		0.9


Sweden		1.3


Switzerland		3.9


Taiwan		0.4


Thailand		0.3


Turkey		0.7


United Kingdom		5.9


United States		50.6


Short-Term Investments		1.9


Other Assets and Liabilities		(0.1	)


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

Hartford Global Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 97.2%
		Banks — 4.8%
	382	Banco Itau Holding Financeira S.A. ADR	$	4,428
	161	National Bank of Greece		3,013
	117	Societe Generale Class A		5,983
	353	Standard Chartered plc		4,586
	260	Wells Fargo & Co.		7,673

				25,683

		Capital Goods — 10.2%
	100	Alstom RGPT		5,989
	100	Danaher Corp.		5,678
	70	Deere & Co.		2,686
	99	General Dynamics Corp.		5,690
	83	Illinois Tool Works, Inc.		2,913
	109	Lockheed Martin Corp.		9,198
	80	Siemens AG		6,085
	211	Sunpower Corp. (D)		7,822
	135	Vestas Wind Systems A/S (D)		7,962

				54,023

		Consumer Services — 1.6%
	696	Las Vegas Sands Corp. (D)		4,125
	332	Royal Caribbean Cruises Ltd.		4,570

				8,695

		Diversified Financials — 4.6%
	97	Goldman Sachs Group, Inc.		8,211
	259	JP Morgan Chase & Co.		8,179
	210	Julius Baer Holding Ltd.		8,137

				24,527

		Energy — 8.7%
	140	Canadian Natural Resources Ltd.		5,617
	155	Hess Corp.		8,304
	154	Schlumberger Ltd.		6,502
	779	Seadrill Ltd.		6,391
	102	Total S.A.		5,620
	179	Ultra Petroleum Corp. (D)		6,170
	213	XTO Energy, Inc.		7,499

				46,103

		Food, Beverage & Tobacco — 6.2%
	252	British American Tobacco plc		6,681
	133	Carlsberg A/S Class B		4,375
	152	Groupe Danone		9,221
	319	Nestle S.A.		12,610

				32,887

		Health Care Equipment & Services — 2.8%
	154	Fresenius Medical Care AG & Co.		7,194
	239	St. Jude Medical, Inc. (D)		7,881

				15,075

		Household & Personal Products — 2.7%
	106	Clorox Co.		5,867
	215	Reckitt Benckiser Group plc		8,195

				14,062

		Insurance — 2.1%
	44	Muenchener Rueckversicherungs-Gesellschaft AG		6,758
	900	Ping An Insurance (Group) Co.		4,420

				11,178

		Materials — 6.5%
	675	BHP Billiton plc		13,279
	136	Monsanto Co.		9,543
	88	Potash Corp. of Saskatchewan, Inc.		6,458
	85	Praxair, Inc.		5,052

				34,332

		Media — 1.5%
	476	Comcast Corp. Class A		8,038
		Pharmaceuticals, Biotechnology & Life Sciences — 17.2%
	145	Abbott Laboratories		7,749
	243	Allergan, Inc.		9,794
	153	Amgen, Inc. (D)		8,819
	95	Celgene Corp. (D)		5,257
	456	CSL Ltd.		10,964
	289	Daiichi Sankyo Co., Ltd.		6,822
	150	Gilead Sciences, Inc. (D)		7,671
	81	Roche Holding AG		12,528
	271	Teva Pharmaceutical Industries Ltd. ADR		11,537
	279	Wyeth		10,465

				91,606

		Retailing — 0.7%
	20	Best Buy Co., Inc.		551
	35	Industria de Diseno Textil S.A.		1,557
	46	Kohl’s Corp. (D)		1,661

				3,769

		Semiconductors & Semiconductor Equipment — 0.7%
	212	Altera Corp.		3,543
		Software & Services — 10.0%
	512	Electronic Arts, Inc. (D)		8,209
	32	Google, Inc. (D)		9,906
	31	Nintendo Co., Ltd.		11,876
	735	Oracle Corp. (D)		13,039
	142	Visa, Inc.		7,453
	185	Western Union Co.		2,653

				53,136

		Technology Hardware & Equipment — 6.1%
	84	Apple, Inc. (D)		7,186
	472	Cisco Systems, Inc. (D)		7,695
	200	Hewlett-Packard Co.		7,240
	297	NetApp, Inc. (D)		4,146
	156	Research In Motion Ltd. (D)		6,335

				32,602

		Telecommunication Services — 9.9%
	375	American Tower Corp. Class A (D)		10,993
	1,035	MetroPCS Communications, Inc. (D)		15,374
	140	Millicom International Cellular S.A.		6,291
	344	Softbank Corp.		6,248
	484	Telefonica S.A.		10,980
	346	Vimpel-Communications ADR		2,479

				52,365

		Transportation — 0.9%
	77	FedEx Corp.		4,933

		Total common stock (cost $679,457)	$	516,557

The accompanying notes are an integral part of these financial statements.

Hartford Global Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — 2.2%
		Repurchase Agreements — 2.2%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9, collateralized by U.S. Treasury Note 4.50%, 2009, value of $9)
$	9	0.03% dated 12/31/2008			$	9
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,856, collateralized by FNMA 5.00%, 2035 — 2038, value of $3,934)
	3,856	0.08% dated 12/31/2008				3,856
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $170, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $173)
	170	0.07% dated 12/31/2008				170
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,729, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $3,804)
	3,729	0.10% dated 12/31/2008				3,729
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,433, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $3,501)
	3,433	0.05% dated 12/31/2008				3,433
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $466, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $476)
	466	0.07% dated 12/31/2008				466

		Total short-term investments (cost $11,663)			$	11,663

		Total investments (cost $691,120) (C)	99.4	%	$	528,220
		Other assets and liabilities	0.6	%		3,189

		Total net assets	100.0	%	$	531,409


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 43.40% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $697,628 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	13,205
Unrealized Depreciation		(182,613	)

Net Unrealized Depreciation	$	(169,408	)


(D)		Currently non-income producing.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Canadian Dollar (Buy)	$	811	$	813		01/05/09	$	(2	)
Euro (Buy)		133		135		01/02/09		(2	)
Euro (Buy)		218		220		01/05/09		(2	)
Japanese Yen (Sell)		1,334		1,341		01/07/09		7

							$	1


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets
Australia		2.1	%


Brazil		0.8


Canada		3.5


China		0.8


Denmark		2.3


France		5.0


Germany		3.7


Greece		0.6


Israel		2.2


Japan		4.7


Luxembourg		1.2


Norway		1.2


Russia		0.5


Spain		2.3


Switzerland		6.3


United Kingdom		6.2


United States		53.8


Short-Term Investments		2.2


Other Assets and Liabilities		0.6


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

Hartford Global Health HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
COMMON STOCK — 98.2%
		Biotechnology — 23.1%
	134	3SBio, Inc. ADR (D)			$	1,048
	255	Amgen, Inc. (D)				14,732
	224	Amylin Pharmaceuticals, Inc. (D)				2,435
	403	Celera Corp. (D)				4,481
	85	Celgene Corp. (D)				4,710
	55	Cephalon, Inc. (D)				4,229
	73	Cougar Biotechnology, Inc. (D)				1,890
	397	Cytokinetics, Inc. (D)				1,131
	78	Genentech, Inc. (D)				6,500
	457	Human Genome Sciences, Inc. (D)				969
	626	Incyte Corp. (D)				2,374
	342	Progenics Pharmaceuticals, Inc. (D)				3,521
	134	Regeneron Pharmaceuticals, Inc. (D)				2,468
	189	Seattle Genetics, Inc. (D)				1,691
	113	Vertex Pharmaceuticals, Inc. (D)				3,445

						55,624

		Drug Retail — 2.0%
	192	Walgreen Co.				4,727
		Health Care Distributors — 4.2%
	94	Cardinal Health, Inc.				3,233
	178	McKesson Corp.				6,894

						10,127

		Health Care Equipment — 19.7%
	152	Baxter International, Inc.				8,119
	83	Beckman Coulter, Inc.				3,634
	127	China Medical Technologies, Inc. ADR				2,563
	218	Covidien Ltd.				7,907
	69	DiaSorin S.p.A.				1,406
	333	Medtronic, Inc.				10,463
	133	St. Jude Medical, Inc. (D)				4,367
	155	Symmetry Medical, Inc. (D)				1,231
	28	Synthes, Inc.				3,570
	292	Volcano Corp. (D)				4,377

						47,637

		Health Care Facilities — 0.4%
	495	Health Management Associates, Inc. Class A (D)				886
		Health Care Technology — 0.5%
	92	Eclipsys Corp. (D)				1,303
		Life Sciences Tools & Services — 0.3%
	126	Exelixis, Inc. (D)				633
		Managed Health Care — 10.4%
	296	Coventry Health Care, Inc. (D)				4,403
	121	Health Net, Inc. (D)				1,318
	171	Humana, Inc. (D)				6,375
	491	UnitedHealth Group, Inc.				13,068

						25,164

		Pharmaceuticals — 37.6%
	83	Abbott Laboratories				4,408
	156	Astellas Pharma, Inc.				6,368
	87	AstraZeneca plc ADR				3,553
	295	Daiichi Sankyo Co., Ltd.				6,966
	193	Eisai Co., Ltd.				8,060
	363	Elan Corp. plc ADR (D)				2,179
	73	Eli Lilly & Co.				2,924
	186	Forest Laboratories, Inc. (D)				4,730
	74	H. Lundbeck A/S				1,554
	50	Ipsen				1,961
	110	Laboratorios Almiral S.A.				868
	200	Medicines Co. (D)				2,945
	204	Sanofi-Aventis S.A. ADR				6,561
	604	Schering-Plough Corp.				10,288
	429	Shionogi & Co., Ltd.				11,070
	192	Teva Pharmaceutical Industries Ltd. ADR				8,156
	174	UCB S.A.				5,714
	62	Wyeth				2,333

						90,638

		Total common stock (cost $293,264)			$	236,739


Principal
Amount

SHORT-TERM INVESTMENTS — 1.7%
		Repurchase Agreements — 1.7%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3, collateralized by U.S. Treasury Note 4.50%, 2009, value of $3)
$	3	0.03% dated 12/31/2008			$	3
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,402, collateralized by FNMA 5.00%, 2035 — 2038, value of $1,430)
	1,402	0.08% dated 12/31/2008				1,402
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $62, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $63)
	62	0.07% dated 12/31/2008				62
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,356, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $1,383)
	1,356	0.10% dated 12/31/2008				1,356
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,248, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $1,273)
	1,248	0.05% dated 12/31/2008				1,248
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $169, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $173)
	169	0.07% dated 12/31/2008				169

		Total short-term investments (cost $4,240)			$	4,240

		Total investments (cost $297,504) (C)	99.9	%	$	240,979
		Other assets and liabilities	0.1	%		188

		Total net assets	100.0	%	$	241,167

The accompanying notes are an integral part of these financial statements.

Hartford Global Health HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 28.63% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $299,868 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	10,670
Unrealized Depreciation		(69,559	)

Net Unrealized Depreciation	$	(58,889	)


(D)		Currently non-income producing.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets
Belgium		2.4	%


China		0.4


Denmark		0.6


France		3.5


Ireland		0.9


Israel		3.4


Italy		0.6


Japan		13.4


Spain		0.4


Switzerland		1.5


United Kingdom		1.5


United States		69.6


Short-Term Investments		1.7


Other Assets and Liabilities		0.1


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

Hartford Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 98.3%
		Banks — 1.5%
	146	Wells Fargo & Co.	$	4,296

		Capital Goods — 16.1%
	190	ABB Ltd. ADR		2,857
	66	Caterpillar, Inc.		2,938
	69	Cummins, Inc.		1,854
	132	Deere & Co.		5,059
	41	Eaton Corp.		2,018
	6	Fluor Corp.		276
	25	Foster Wheeler Ltd. (D)		590
	61	General Dynamics Corp.		3,504
	127	Honeywell International, Inc.		4,156
	53	Illinois Tool Works, Inc.		1,874
	90	Lockheed Martin Corp.		7,540
	71	Precision Castparts Corp.		4,225
	136	Raytheon Co.		6,942
	28	Siemens AG ADR		2,158

				45,991

		Consumer Durables & Apparel — 1.0%
	56	NIKE, Inc. Class B		2,835

		Consumer Services — 1.8%
	67	Apollo Group, Inc. Class A (D)		5,096

		Diversified Financials — 2.7%
	66	Goldman Sachs Group, Inc.		5,581
	112	Moody’s Corp.		2,253

				7,834

		Energy — 8.1%
	59	Cameco Corp.		1,025
	32	EOG Resources, Inc.		2,162
	210	Halliburton Co.		3,817
	48	Hess Corp.		2,590
	73	Occidental Petroleum Corp.		4,408
	61	Petroleo Brasileiro S.A. ADR		1,499
	92	Schlumberger Ltd.		3,910
	37	Transocean, Inc. (D)		1,751
	55	Ultra Petroleum Corp. (D)		1,893

				23,055

		Food & Staples Retailing — 1.0%
	198	Supervalu, Inc.		2,886

		Food, Beverage & Tobacco — 3.2%
	168	Nestle S.A.		6,634
	44	PepsiCo, Inc.		2,383

				9,017

		Health Care Equipment & Services — 7.4%
	147	Covidien Ltd.		5,345
	111	McKesson Corp.		4,285
	111	Medtronic, Inc.		3,476
	108	St. Jude Medical, Inc. (D)		3,554
	171	UnitedHealth Group, Inc.		4,559

				21,219

		Insurance — 4.1%
	84	AON Corp.		3,827
	183	Marsh & McLennan Cos., Inc.		4,433
	101	MetLife, Inc.		3,530

				11,790

		Materials — 1.3%
	52	Monsanto Co.		3,655

		Media — 1.8%
	133	Focus Media Holding Ltd. ADR (D)		1,210
	201	Viacom, Inc. Class B (D)		3,822

				5,032

		Pharmaceuticals, Biotechnology & Life Sciences — 7.6%
	149	Abbott Laboratories		7,976
	15	Genentech, Inc. (D)		1,219
	51	Genzyme Corp. (D)		3,395
	22	Merck & Co., Inc.		682
	120	Teva Pharmaceutical Industries Ltd. ADR		5,092
	86	Wyeth		3,235

				21,599

		Retailing — 5.3%
	57	Kohl’s Corp. (D)		2,053
	254	Staples, Inc.		4,555
	116	Target Corp.		4,011
	224	TJX Cos., Inc.		4,616

				15,235

		Semiconductors & Semiconductor Equipment — 1.4%
	236	Altera Corp.		3,941

		Software & Services — 21.6%
	132	Accenture Ltd. Class A		4,314
	76	Automatic Data Processing, Inc.		3,006
	142	BMC Software, Inc. (D)		3,817
	178	Electronic Arts, Inc. (D)		2,859
	20	Google, Inc. (D)		6,138
	113	McAfee, Inc. (D)		3,899
	523	Microsoft Corp.		10,168
	12	Nintendo Co., Ltd.		4,460
	612	Oracle Corp. (D)		10,843
	111	VeriSign, Inc. (D)		2,108
	75	Visa, Inc.		3,928
	435	Western Union Co.		6,242

				61,782

		Technology Hardware & Equipment — 10.9%
	30	Apple, Inc. (D)		2,572
	375	Cisco Systems, Inc. (D)		6,108
	187	Hewlett-Packard Co.		6,776
	49	International Business Machines Corp.		4,150
	201	NetApp, Inc. (D)		2,805
	165	Qualcomm, Inc.		5,922
	68	Research In Motion Ltd. (D)		2,743

				31,076

		Telecommunication Services — 1.2%
	237	MetroPCS Communications, Inc. (D)		3,516

		Transportation — 0.3%
	21	Norfolk Southern Corp.		986

		Total common stock (cost $375,797)	$	280,841

The accompanying notes are an integral part of these financial statements.

Hartford Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)

SHORT-TERM INVESTMENTS — 1.2%
		Repurchase Agreements — 1.2%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3, collateralized by U.S. Treasury Note 4.50%, 2009, value of $3)
$	3	0.03% dated 12/31/2008			$	3
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,159, collateralized by FNMA 5.00%, 2035 — 2038, value of $1,182)
	1,159	0.08% dated 12/31/2008				1,159
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $51, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $52)
	51	0.07% dated 12/31/2008				51
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,121, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $1,143)
	1,121	0.10% dated 12/31/2008				1,121
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,032, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $1,052)
	1,031	0.05% dated 12/31/2008				1,031
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $140, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $143)
	140	0.07% dated 12/31/2008				140

		Total short-term investments (cost $3,505)			$	3,505

		Total investments (cost $379,302) (C)	99.5	%	$	284,346
		Other assets and liabilities	0.5	%		1,367

		Total net assets	100.0	%	$	285,713

Note:

Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 9.69% of total net assets at December 31, 2008. Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $386,051 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	3,847
Unrealized Depreciation		(105,552	)

Net Unrealized Depreciation	$	(101,705	)


(D)		Currently non-income producing.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Growth Opportunities HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 95.7%
		Banks — 1.8%
	105	PNC Financial Services Group, Inc.	$	5,150
	373	Wells Fargo & Co.		11,008

				16,158

		Capital Goods — 15.2%
	510	Aecom Technology Corp. (D)		15,675
	150	Flowserve Corp.		7,704
	868	General Electric Co.		14,063
	295	Honeywell International, Inc.		9,692
	240	Illinois Tool Works, Inc.		8,419
	254	Lockheed Martin Corp.		21,331
	277	PACCAR, Inc.		7,931
	375	Pall Corp.		10,673
	133	Precision Castparts Corp.		7,881
	216	Raytheon Co.		11,030
	49,720	Rolls-Royce Group — C Share Entitlement (A)(H)		—
	869	Rolls-Royce Group plc		4,315
	163	Sunpower Corp. (D)		6,020
	151	Vestas Wind Systems A/S (D)		8,940

				133,674

		Commercial & Professional Services — 3.5%
	530	Covanta Holding Corp. (D)		11,632
	360	Republic Services, Inc.		8,920
	426	Tetra Tech, Inc. (D)		10,288

				30,840

		Consumer Durables & Apparel — 1.9%
	624	Jarden Corp. (D)		7,175
	235	Snap-On, Inc.		9,262

				16,437

		Consumer Services — 0.6%
	954	Las Vegas Sands Corp. (D)		5,657

		Diversified Financials — 4.7%
	284	Bank of America Corp.		4,000
	133	Deutsche Boerse AG		9,657
	125	Goldman Sachs Group, Inc.		10,557
	176	JP Morgan Chase & Co.		5,552
	248	Polaris Acquisition Corp. (D)		2,260
	233	State Street Corp.		9,164

				41,190

		Energy — 5.8%
	176	Consol Energy, Inc.		5,042
	114	EOG Resources, Inc.		7,557
	224	Forest Oil Corp. (D)		3,695
	141	Occidental Petroleum Corp.		8,477
	176	Smith International, Inc.		4,031
	147	Transocean, Inc. (D)		6,955
	168	Ultra Petroleum Corp. (D)		5,798
	256	XTO Energy, Inc.		9,011

				50,566

		Food, Beverage & Tobacco — 1.0%
	222	Nestle S.A.		8,780

		Health Care Equipment & Services — 6.9%
	293	Covidien Ltd.		10,600
	431	McKesson Corp.		16,685
	253	Medtronic, Inc.		7,962
	286	St. Jude Medical, Inc. (D)		9,440
	210	UnitedHealth Group, Inc.		5,580
	298	Varian Medical Systems, Inc. (D)		10,442

				60,709

		Household & Personal Products — 2.1%
	179	Clorox Co.		9,934
	227	Reckitt Benckiser Group plc		8,650

				18,584

		Insurance — 5.9%
	235	ACE Ltd.		12,457
	172	AON Corp.		7,852
	643	Marsh & McLennan Cos., Inc.		15,611
	41	Muenchener Rueckversicherungs-Gesellschaft AG		6,324
	212	Travelers Cos., Inc.		9,560

				51,804

		Materials — 3.7%
	167	Cliff’s Natural Resources, Inc.		4,272
	516	Companhia Vale do Rio Doce ADR		6,252
	333	FMC Corp.		14,875
	99	Monsanto Co.		6,929

				32,328

		Media — 1.5%
	345	DreamWorks Animation SKG, Inc. (D)		8,725
	518	Focus Media Holding Ltd. ADR (D)		4,707

				13,432

		Pharmaceuticals, Biotechnology & Life Sciences — 14.1%
	279	Abbott Laboratories		14,901
	325	Alkermes, Inc. (D)		3,458
	201	Amgen, Inc. (D)		11,619
	397	Amylin Pharmaceuticals, Inc. (D)		4,304
	292	Auxilium Pharmaceuticals, Inc. (D)		8,310
	249	Cephalon, Inc. (D)		19,168
	223	Charles River Laboratories International, Inc. (D)		5,851
	311	Elan Corp. plc ADR (D)		1,865
	353	Pharmaceutical Product Development, Inc.		10,242
	1,120	Schering-Plough Corp.		19,075
	479	Shionogi & Co., Ltd.		12,368
	284	Teva Pharmaceutical Industries Ltd. ADR		12,069

				123,230

		Real Estate — 0.7%
	331	Kimco Realty Corp.		6,056

		Retailing — 5.1%
	396	Best Buy Co., Inc.		11,120
	886	Gap, Inc.		11,866
	249	Kohl’s Corp. (D)		9,010
	723	Staples, Inc.		12,953

				44,949

		Software & Services — 12.9%
	327	Accenture Ltd. Class A		10,726
	20	Baidu.com ADR (D)		2,624
	548	BMC Software, Inc. (D)		14,755
	418	Electronic Arts, Inc. (D)		6,710
	14	Google, Inc. (D)		4,338
	475	McAfee, Inc. (D)		16,403

The accompanying notes are an integral part of these financial statements.

Hartford Growth Opportunities HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Software & Services — (continued)
	631	Microsoft Corp.			$	12,259
	37	Nintendo Co., Ltd.				14,129
	851	Red Hat, Inc. (D)				11,249
	182	Visa, Inc.				9,551
	744	Western Union Co.				10,674

						113,418

		Technology Hardware & Equipment — 4.7%
	425	Corning, Inc.				4,049
	375	Dell, Inc. (D)				3,840
	514	FLIR Systems, Inc. (D)				15,757
	289	Hewlett-Packard Co.				10,488
	475	NetApp, Inc. (D)				6,639

						40,773

		Telecommunication Services — 2.0%
	1,153	MetroPCS Communications, Inc. (D)				17,126

		Transportation — 1.6%
	814	Delta Air Lines, Inc. (D)				9,330
	154	Ryanair Holdings plc ADR (D)				4,485

						13,815

		Total common stock (cost $1,065,804)			$	839,526



EXCHANGE TRADED FUNDS — 1.2%
		Other Investment Pools and Funds — 1.2%
	117	S & P 500 Depositary Receipt			$	10,567

		Total exchange traded funds (cost $10,224)			$	10,567

		Total long-term investments (cost $1,076,028)			$	850,093



Principal
Amount

SHORT-TERM INVESTMENTS — 3.7%
		Repurchase Agreements — 3.3%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $22, collateralized by U.S. Treasury Note 4.50%, 2009, value of $23)
$	22	0.03% dated 12/31/2008			$	22
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,649, collateralized by FNMA 5.00%, 2035 — 2038, value of $9,842)
	9,649	0.08% dated 12/31/2008				9,649
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $424, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $433)
	424	0.07% dated 12/31/2008				424
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,331, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $9,517)
	9,330	0.10% dated 12/31/2008				9,330
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $8,589, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $8,760)
	8,589	0.05% dated 12/31/2008				8,589
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,166, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $1,190)
	1,166	0.07% dated 12/31/2008				1,166

						29,180

		U.S. Treasury Bills — 0.4%
	2,998	0.96%, 01/22/2009 (M)				3,000

		Total short-term investments (cost $32,178)			$	32,180

		Total investments (cost $1,108,205) (C)	100.6	%	$	882,273
		Other assets and liabilities	(0.6	)%		(5,492	)

		Total net assets	100.0	%	$	876,781


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 11.99% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange. The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,127,210 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	20,937
Unrealized Depreciation		(265,874	)

Net Unrealized Depreciation	$	(244,937	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008 rounds to zero. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares/Par		Security	Cost Basis
05/2008		49,720	Rolls-Royce Group — C Share Entitlement	$	150


		The aggregate value of these securities at December 31, 2008 rounds to zero.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

100

Hartford High Yield HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 0.5%
		Finance — 0.5%
		CBA Commercial Small Balance Commercial Mortgage
$	20,384	2.27%, 01/25/2039 (H)(c)	$	2,039
		Soundview NIM Trust
	2,490	8.25%, 12/25/2036 (D)(H)		2

		Total asset & commercial mortgage backed securities (cost $4,314)	$	2,041



CORPORATE BONDS: INVESTMENT GRADE — 6.0%
		Consumer Cyclical — 0.8%
		Altria Group, Inc.
$	1,464	9.70%, 11/10/2018	$	1,582
		Phillips Van-Heusen Corp.
	2,355	7.75%, 11/15/2023 #		1,713

				3,295

		Finance — 2.8%
		American Real Estate Partners L.P.
	3,270	7.13%, 02/15/2013		2,256
		Bank of America Corp.
	2,500	8.00%, 01/30/2018 (L)(cc)		1,798
		Citigroup, Inc.
	2,200	8.40%, 04/30/2018 (L)(cc)		1,453
		Goldman Sachs Capital Trust II
	6,750	5.79%, 06/01/2012 (L)#(cc)		2,595
		Host Marriott L.P.
	2,700	6.75%, 06/01/2016		1,971
		JP Morgan Chase & Co.
	2,000	7.90%, 04/30/2018 (cc)		1,664

				11,737

		Services — 1.9%
		Allied Waste North America, Inc.
	2,230	6.88%, 06/01/2017		2,074
	3,210	7.88%, 04/15/2013		3,049
		Wynn Las Vegas LLC
	3,850	6.63%, 12/01/2014		2,907

				8,030

		Technology — 0.3%
		Verizon Wireless
	1,062	8.50%, 11/15/2018 (I)		1,244

		Transportation — 0.2%
		Continental Airlines, Inc.
	1,219	6.80%, 08/02/2018		719

		Total corporate bonds: investment grade (cost $31,166)	$	25,025



CORPORATE BONDS: NON-INVESTMENT GRADE — 77.8%
		Basic Materials — 5.5%
		Cenveo, Inc.
$	2,270	10.50%, 08/15/2016 (I)	$	1,317
		Domtar Corp.
	1,115	5.38%, 12/01/2013		691
		Georgia-Pacific Corp.
	6,400	7.00%, 01/15/2015 (I)		5,440
		Graham Packaging Co., Inc.
	3,600	8.50%, 10/15/2012		2,565
		Huntsman International LLC
	1,575	7.88%, 11/15/2014 #		843
		International Coal Group, Inc.
	1,750	10.25%, 07/15/2014		1,312
		MacDermid, Inc.
	2,485	9.50%, 04/15/2017 (I)		1,292
		New Page Corp.
	2,975	10.00%, 05/01/2012		1,309
		Nova Chemicals Corp.
	3,450	6.50%, 01/15/2012		1,432
		Peabody Energy Corp.
	2,000	6.88%, 03/15/2013		1,895
		Potlatch Corp.
	1,350	13.00%, 12/01/2009 (H)(L)		1,429
		Texas Industries, Inc.
	2,200	7.25%, 07/15/2013 (I)		1,699
		Valmont Industries, Inc.
	2,100	6.88%, 05/01/2014		1,785

				23,009

		Capital Goods — 2.7%
		Bombardier, Inc.
	5,170	6.30%, 05/01/2014 (I)#		4,252
		Hawker Beechcraft Acquisition Co.
	975	9.75%, 04/01/2017		263
		L-3 Communications Corp.
	4,220	6.13%, 07/15/2013 — 01/15/2014		3,843
		Transdigm, Inc.
	3,700	7.75%, 07/15/2014		3,034

				11,392

		Consumer Cyclical — 11.4%
		Alliance One International, Inc.
	2,310	8.50%, 05/15/2012 (H)		1,698
		Amerigas Partners L.P.
	890	7.13%, 05/20/2016		712
	1,555	7.25%, 05/20/2015 #		1,267
		Aramark Corp.
	4,065	5.00%, 06/01/2012		3,171
		Buffalo Thunder
	3,825	9.38%, 12/15/2014 (H)		765
		D.R. Horton, Inc.
	4,235	4.88%, 01/15/2010		3,843
		Dollarama Group L.P.
	3,575	8.88%, 08/15/2012		2,681
		ESCO Corp.
	3,450	8.63%, 12/15/2013 (I)		2,415
		Ferrellgas Partners L.P.
	2,000	6.75%, 05/01/2014 (I)		1,380
		General Motors Corp.
	6,365	8.38%, 07/15/2033		1,114
		Ingles Markets, Inc.
	3,105	8.88%, 12/01/2011		2,701
		K Hovnanian Enterprises
	3,695	11.50%, 05/01/2013		2,808
		KB Home & Broad Home Corp.
	3,455	6.38%, 08/15/2011		2,660
		Neiman Marcus Group, Inc.
	2,570	9.00%, 10/15/2015		1,131
		Pulte Homes, Inc.
	4,190	7.88%, 08/01/2011		3,624
		SGS International, Inc.
	3,240	12.00%, 12/15/2013		1,624

The accompanying notes are an integral part of these financial statements.

101

Hartford High Yield HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)

CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)

		Consumer Cyclical — (continued)
		Stater Brothers Holdings, Inc.
$	2,435	8.13%, 06/15/2012	$	2,204
		Supervalu, Inc.
	7,880	7.50%, 11/15/2014		6,462
		Tenneco, Inc.
	5,220	8.13%, 11/15/2015		2,401
		TRW Automotive, Inc.
	4,205	7.25%, 03/15/2017 (I)		2,145
		United Components, Inc.
	1,950	9.38%, 06/15/2013 (H)		819

				47,625

		Consumer Staples — 2.0%
		Appleton Papers, Inc.
	3,267	8.13%, 06/15/2011		2,254
		Constellation Brands, Inc.
	2,685	8.38%, 12/15/2014		2,551
		Dean Foods Co.
	1,800	7.00%, 06/01/2016		1,530
		Dole Food Co., Inc.
	2,345	8.63%, 05/01/2009		2,122

				8,457

		Energy — 6.3%
		Chesapeake Energy Corp.
	3,700	7.00%, 08/15/2014		3,071
	3,670	7.63%, 07/15/2013		3,156
		Cie Gen Geophysique
	1,460	7.75%, 05/15/2017		847
		Encore Acquisition Co.
	3,645	7.25%, 12/01/2017		2,351
		Ferrell Gas Partners L.P.
	1,120	8.75%, 06/15/2012		784
		Inergy L.P.
	3,840	8.25%, 03/01/2016		2,995
		Petrohawk Energy Corp.
	3,505	9.13%, 07/15/2013		2,839
		Plains Exploration & Production Co.
	2,310	7.63%, 06/01/2018		1,583
		Quicksilver Resources, Inc.
	3,000	8.25%, 08/01/2015		1,905
		Sonat, Inc.
	5,850	7.63%, 07/15/2011		5,334
		Tesoro Corp.
	2,690	6.63%, 11/01/2015		1,560

				26,425

		Finance — 4.8%
		Ford Motor Credit Co.
	6,900	5.70%, 01/15/2010		5,864
	7,125	9.20%, 04/15/2009 (L)		6,876
		LPL Holdings, Inc.
	7,625	10.75%, 12/15/2015 (H)		5,337
		Yankee Acquisition Corp.
	3,775	8.50%, 02/15/2015		1,760

				19,837

		Health Care — 8.3%
		Advanced Medical Optics, Inc.
	4,760	7.50%, 05/01/2017		2,428
		Biomet, Inc.
	3,620	10.38%, 10/15/2017		2,860
		HCA, Inc.
	2,500	7.88%, 02/01/2011		2,200
	7,155	9.25%, 11/15/2016		6,565
		IASIS Healthcare Capital Corp.
	3,550	8.75%, 06/15/2014 #		2,751
		Invacare Corp.
	3,725	9.75%, 02/15/2015		3,297
		Multiplan Corp.
	3,450	10.38%, 04/15/2016 (I)		2,794
		Psychiatric Solutions, Inc.
	3,120	7.75%, 07/15/2015		2,293
		Reable Therapeutics Finance LLC
	2,490	11.75%, 11/15/2014		1,643
		Rite Aid Corp.
	5,475	9.50%, 06/15/2017		1,903
		Skilled Healthcare Group, Inc.
	2,750	11.00%, 01/15/2014		2,585
		Warner Chilcott Corp.
	3,650	8.75%, 02/01/2015		3,248

				34,567

		Services — 8.7%
		Affinion Group, Inc.
	4,340	11.50%, 10/15/2015		2,609
		AMC Entertainment, Inc.
	2,600	11.00%, 02/01/2016		1,817
		Dex Media West LLC, Inc.
	962	9.88%, 08/15/2013 #		228
		DirecTV Holdings LLC
	1,555	7.63%, 05/15/2016		1,508
	2,840	8.38%, 03/15/2013		2,826
		Echostar DBS Corp.
	4,690	7.75%, 05/31/2015		3,986
		FireKeepers Development Authority
	3,125	13.88%, 05/01/2015 (I)		1,938
		Harland Clarke Holdings
	3,550	9.50%, 05/15/2015		1,349
		Harrah’s Operating Co., Inc.
	662	10.00%, 12/15/2018 (I)		242
	4,088	10.75%, 02/01/2016 (I)		1,165
		Iron Mountain, Inc.
	3,170	8.00%, 06/15/2020		2,544
		MGM Mirage, Inc.
	2,440	6.88%, 04/01/2016		1,543
	2,400	8.50%, 09/15/2010		2,016
		Pinnacle Entertainment, Inc.
	2,850	8.75%, 10/01/2013		2,252
		Sheridan Group, Inc.
	3,600	10.25%, 08/15/2011 (H)		2,525
		SunGard Data Systems, Inc.
	3,470	10.25%, 08/15/2015		2,290
		TL Acquisitions, Inc.
	3,760	10.50%, 01/15/2015 (I)		1,542
		Videotron Ltee
	2,625	6.88%, 01/15/2014		2,323
		Virgin Media, Inc.
	4,100	6.50%, 11/15/2016 (I)(X)		1,773

				36,476

The accompanying notes are an integral part of these financial statements.

102


Principal			Market
Amount (B)			Value (W)


CORPORATE BONDS: NON-INVESTMENT GRADE — (continued)
		Technology — 18.4%
		Advanced Micro Devices, Inc.
$	3,000	5.75%, 08/15/2012 (X)	$	1,031
		Canwest MediaWorks L.P.
	4,560	9.25%, 08/01/2015 (I)		1,733
		Charter Communications Operating LLC
	2,500	8.00%, 04/30/2012 (I)		2,050
	5,600	10.88%, 09/15/2014 (I)		4,480
		Citizens Communications Co.
	3,650	7.88%, 01/15/2027		2,117
		Cricket Communications, Inc.
	2,780	9.38%, 11/01/2014		2,502
		CSC Holdings, Inc.
	3,800	7.63%, 07/15/2018		2,964
	6,750	7.63%, 04/01/2011 #		6,362
		Freescale Semiconductor, Inc.
	5,750	9.13%, 12/15/2014		1,322
		General Cable Corp.
	2,725	6.26%, 04/01/2015 (L)		1,274
		Intelsat Jackson Holdings, Ltd.
	5,575	11.50%, 06/15/2016 (I)		4,850
		Intelsat Ltd.
	5,526	7.63%, 04/15/2012		3,702
		Intelsat Subsidiary Holding Co.
	6,425	8.50%, 01/15/2013 (I)		5,943
		Level 3 Financing, Inc.
	5,500	9.25%, 11/01/2014		3,190
		Mediacom LLC
	7,050	7.88%, 02/15/2011		5,508
		MetroPCS Wireless, Inc.
	4,285	9.25%, 11/01/2014		3,835
		Qwest Communications International, Inc.
	8,170	7.50%, 02/15/2014		5,842
		Sanmina-Sci Corp.
	4,550	4.75%, 06/15/2010 — 06/15/2014 (I)(L)		3,065
		Sprint Capital Corp.
	5,400	8.38%, 03/15/2012		4,320
		Sprint Nextel Corp.
	7,550	6.00%, 12/01/2016		5,323
		Wind Acquisition
EUR	1,600	9.75%, 12/01/2015 (I)		1,822
		Windstream Corp.
	4,400	8.63%, 08/01/2016		3,894

				77,129

		Transportation — 1.5%
		Bristow Group, Inc.
	2,520	7.50%, 09/15/2017		1,689
		Continental Airlines, Inc.
	3,003	7.03%, 06/15/2011		1,742
	2,469	7.37%, 12/15/2015		1,432
		PHI, Inc.
	2,140	7.13%, 04/15/2013		1,305

				6,168



		Utilities — 8.2%
		AES Corp.
	2,460	8.00%, 10/15/2017	$	2,017
		Copano Energy LLC
	3,700	8.13%, 03/01/2016		2,682
		Edison Mission Energy
	5,015	7.50%, 06/15/2013		4,589
		Energy Future Holdings
	2,000	10.88%, 11/01/2017 (I)		1,420
		Markwest Energy Partners L.P.
$	2,300	8.50%, 07/15/2016		1,466
		Mirant North America LLC
	3,100	7.38%, 12/31/2013		2,976
		NRG Energy, Inc.
	8,000	7.25%, 02/01/2014		7,480
		Reliant Energy, Inc.
	1,880	6.75%, 12/15/2014		1,692
	2,200	7.88%, 06/15/2017		1,782
	1,141	9.24%, 07/02/2017		1,038
		Texas Competitive Electric Co.
	10,150	10.50%, 11/01/2015 (I)		7,207

				34,349

		Total corporate bonds: non-investment grade (cost $418,594)	$	325,434



SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — 5.0%
		Consumer Cyclical — 1.2%
		Ford Motor Co.
$	3,000	5.00%, 12/16/2013 (N)(Q)	$	1,202
		Hanesbrands, Inc.
	3,300	7.27%, 03/05/2014 (N)		2,360
		Lear Corp.
	2,953	3.73%, 04/25/2012 (N)		1,339

				4,901

		Energy — 0.7%
		Lyondell Chemical Co.
	3,658	7.00%, 12/22/2014 (F)(N)		1,646
		Turbo Beta Ltd.
	3,231	14.50%, 03/12/2018 (A)(H)(N)		1,422

				3,068

		Finance — 0.2%
		Amerigroup Corp.
	904	2.50%, 03/26/2012 (N)(Q)		786

		Health Care — 1.0%
		IASIS Healthcare Capital Corp.
	4,407	8.76%, 06/15/2014 (N)		2,402
		Inverness Medical Innovation, Inc.
	1,625	6.14%, 06/26/2015 (N)		992
		Invitrogen Corp.
	630	5.25%, 09/30/2015 (N)		589

				3,983

		Services — 1.0%
		Marquee Holdings, Inc.
	1,527	6.75%, 06/13/2012 (H)(N)		420
		Venetian Macau Ltd.
	1,197	2.72%, 05/25/2012 (N)		593
		Venetian Macau Ltd., Incremental Term Loan B
	852	2.72%, 04/06/2012 (N)		421
		Venetian Macau Ltd., Term Loan
	2,073	2.72%, 05/25/2013 (N)		1,026
		WideOpenWest Finance LLC
	4,280	8.91%, 06/29/2015 (H)(N)		856

The accompanying notes are an integral part of these financial statements.

103

Hartford High Yield HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)


SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — (continued)

		Services — (continued)
		Yonkers Racing Corp.
$	1,213	10.50%, 08/12/2011 (H)(N)			$	1,031

						4,347

		Technology — 0.9%
		Infor Lux Bond Co.
	5,018	9.46%, 07/28/2014 (H)(N)				75
		Integra Telecom Holdings, Inc.
	2,050	9.97%, 04/08/2014 (H)(N)				615
		Mediacom Broadband LLC
	730	1.95%, 03/31/2010 (N)				606
		Wind Acquisitions Holdings Finance S.A.
	4,499	11.75%, 12/12/2011 (H)(N)				2,497

						3,793

		Total senior floating rate interests: non-investment grade (cost $43,069)			$	20,878



Shares

COMMON STOCK — 0.0%
		Telecommunication Services — 0.0%
	1	AboveNet, Inc. (D)(H)			$	19
	—	XO Holdings, Inc. (D)				—

		Total common stock (cost $ — )			$	19



WARRANTS — 0.0%
		Telecommunication Services — 0.0%
	—	AboveNet, Inc. (D)(H)			$	1
	—	XO Holdings, Inc. (D)(H)				—

		Total warrants (cost $ — )			$	1


PREFERRED STOCK — 0.0%
		Banks — 0.0%
	148	Federal National Mortgage Association			$	123

		Total preferred stock (cost $1,902)			$	123

		Total long-term investments (cost $499,045)			$	373,521


SHORT-TERM INVESTMENTS — 9.2%
		Investment Pools and Funds — 4.8%
	10,306	JP Morgan U.S. Government Money Market Fund				10,306
	—	State Street Bank U.S. Government Money Market Fund				—
	10,000	Wells Fargo Advantage Government Money Market Fund				10,000

						20,306




Principal
Amount

		Repurchase Agreements — 4.2%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,650, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $9,745)
$	9,650	0.01% dated 12/31/2008			$	9,650
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $6,397, collateralized by U.S. Treasury Note 3.13%, 2013, value of $6,506)
	6,397	0.03% dated 12/31/2008			$	6,397
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,488, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $1,489)
	1,488	0.02% dated 12/31/2008				1,488

						17,535

		U.S. Treasury Bills — 0.2%
	775	0.81%, 01/15/2009 (M)				775

		Total short-term investments (cost $38,616)			$	38,616

		Total investments (cost $537,661) (C)	98.5	%	$	412,137
		Other assets and liabilities	1.5	%		6,307

		Total net assets	100.0	%	$	418,444


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 5.12% of total net assets at December 31, 2008.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $541,405 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	2,572
Unrealized Depreciation		(131,840	)

Net Unrealized Depreciation	$	(129,268	)


#		This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.

(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $1,422, which represents 0.34% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(cc)		Perpetual maturity security. Maturity date shown is the first call date.

(D)		Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.

(F)		The company is in bankruptcy. The investment held by the Fund is not in default.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $63,208, which represents 15.10% of total net assets.

The accompanying notes are an integral part of these financial statements.

104


(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(N)		The interest rate disclosed for these securities represents the average coupon as of December 31, 2008.

(c)		The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2008.

(Q)		The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2008 was $1,903.

(V)		Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate indicated is the rate in effect at December 31, 2008.

(X)		Convertible security.

(B)		All principal amounts are in U.S. dollars unless otherwise indicated. EUR — Euro

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares/Par		Security	Cost Basis
09/2007 – 03/2008		—	AboveNet, Inc. Warrants	$	—
09/2007 – 03/2008		1	AboveNet, Inc.		—
03/2007	$	2,310	Alliance One International, Inc., 8.50%, 05/15/2012		2,310
12/2006 – 06/2007		3,825	Buffalo Thunder, 9.38%, 12/15/2014 - 144A		3,864
11/2006 – 10/2007		20,384	CBA Commercial Small Balance Commercial Mortgage, 2.27%, 01/25/2039 - 144A		1,844
03/2007 12/2008		5,018	Infor Lux Bond Co., 9.46%, 07/28/2014		4,213
08/2007		2,050	Integra Telecom Holdings, Inc., 9.97%, 04/08/2014		1,984
08/2006 – 08/2008		7,625	LPL Holdings, Inc., 10.75%, 12/15/2015 - 144A		7,723
06/2007 – 12/2008		1,527	Marquee Holdings, Inc., 6.75%, 06/13/2012		1,504
05/2001 – 11/2001		1,350	Potlatch Corp., 13.00%, 12/01/2009		1,341


06/2005 – 02/2006	$	3,600	Sheridan Group, Inc., 10.25%, 08/15/2011	$	3,693
02/2007		2,490	Soundview NIM Trust, 8.25%, 12/25/2036 -144A		2,470
06/2008 – 11/2008		3,231	Turbo Beta Ltd., 14.50%, 03/12/2018		3,231
09/2008		1,950	United Components, Inc., 9.38%, 06/15/2013		1,757
06/2007 – 12/2008		4,280	WideOpenWest Finance LLC, 8.91%, 06/29/2015		4,149
12/2006 – 10/2008		4,499	Wind Acquisitions Holdings Finance S.A., 11.75%, 12/12/2011		4,499
05/2006		—	XO Holdings, Inc.		—
08/2008		1,213	Yonkers Racing Corp., 10.50%, 08/12/2011		1,210


		The aggregate value of these securities at December 31, 2008 was $21,550 which represents 5.15% of total net assets.

Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

5 Year U.S.
Treasury Note

407

Long

Mar 2009

1,300


*		The number of contracts does not omit 000’s.

Cash of $260 was pledged as initial margin deposit for open futures contracts at December 31,2008.

Forward Foreign Currency Contracts Outstanding at December 31, 2008

Unrealized

Market

Contract

Delivery

Appreciation/

Description

Value (W)

Amount

Date

(Depreciation)

Euro (Sell)

2,131

1,909

01/29/09

(222

)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

105

Hartford Index HLS Fund

Schedule of Investments

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — 97.2%
		Automobiles & Components — 0.3%
	253	Ford Motor Co. (D)	$	579
	65	General Motors Corp.		206
	26	Goodyear Tire & Rubber Co. (D)		153
	25	Harley-Davidson, Inc.		419
	63	Johnson Controls, Inc.		1,141

				2,498

		Banks — 3.3%
	58	BB&T Corp.		1,605
	16	Comerica, Inc.		316
	61	Fifth Third Bancorp		505
	22	First Horizon National Corp.		230
	55	Hudson City Bancorp, Inc.		880
	39	Huntington Bancshares, Inc.		296
	52	Keycorp		446
	8	M&T Bank Corp.		468
	27	Marshall & Ilsley Corp.		375
	215	National City Corp.		390
	37	People’s United Financial, Inc.		656
	37	PNC Financial Services Group, Inc.		1,803
	73	Regions Financial Corp.		583
	58	Sovereign Bancorp, Inc.		172
	37	SunTrust Banks, Inc.		1,105
	186	US Bancorp		4,642
	229	Wachovia Corp.		1,267
	401	Wells Fargo & Co.		11,820
	12	Zion Bancorp		299

				27,858

		Capital Goods — 7.9%
	73	3M Co.		4,221
	78	Boeing Co.		3,307
	64	Caterpillar, Inc.		2,850
	18	Cooper Industries Ltd.		535
	21	Cummins, Inc.		568
	27	Danaher Corp.		1,530
	45	Deere & Co.		1,731
	20	Dover Corp.		649
	17	Eaton Corp.		865
	81	Emerson Electric Co.		2,970
	14	Fastenal Co.		477
	6	Flowserve Corp.		309
	19	Fluor Corp.		863
	41	General Dynamics Corp.		2,376
	1,111	General Electric Co.		18,002
	13	Goodrich Corp.		481
	77	Honeywell International, Inc.		2,522
	42	Illinois Tool Works, Inc.		1,460
	34	Ingersoll-Rand Co. Class A		585
	19	ITT Corp.		885
	13	Jacobs Engineering Group, Inc. (D)		627
	13	L-3 Communications Holdings, Inc.		935
	35	Lockheed Martin Corp.		2,963
	14	Manitowoc Co., Inc.		120
	38	Masco Corp.		424
	35	Northrop Grumman Corp.		1,556
	38	PACCAR, Inc.		1,096
	12	Pall Corp.		355
	17	Parker-Hannifin Corp.		726
	15	Precision Castparts Corp.		878
	44	Raytheon Co.		2,235
	15	Rockwell Automation, Inc.		481
	17	Rockwell Collins, Inc.		654
	26	Textron, Inc.		354
	50	Tyco International Ltd.		1,080
	101	United Technologies Corp.		5,393
	7	W.W. Grainger, Inc.		537

				67,600

		Commercial & Professional Services — 0.7%
	11	Avery Dennison Corp.		367
	14	Cintas Corp.		322
	6	Dun & Bradstreet Corp.		440
	13	Equifax, Inc. (D)		354
	13	Monster Worldwide, Inc. (D)		158
	22	Pitney Bowes, Inc.		557
	22	R.R. Donnelley & Sons Co.		295
	34	Republic Services, Inc.		843
	16	Robert Half International, Inc.		342
	9	Stericycle, Inc. (D)		474
	52	Waste Management, Inc.		1,719

				5,871

		Consumer Durables & Apparel — 0.9%
	6	Black & Decker Corp.		266
	13	Centex Corp.		140
	35	Coach, Inc. (D)		718
	29	D.R. Horton, Inc.		206
	28	Eastman Kodak Co.		187
	16	Fortune Brands, Inc.		657
	6	Harman International Industries, Inc.		104
	13	Hasbro, Inc.		383
	9	Jones Apparel Group, Inc.		52
	8	KB Home		108
	16	Leggett & Platt, Inc.		251
	15	Lennar Corp.		129
	38	Mattel, Inc.		606
	29	Newell Rubbermaid, Inc.		287
	42	NIKE, Inc. Class B		2,117
	6	Polo Ralph Lauren Corp.		272
	23	Pulte Homes, Inc.		247
	6	Snap-On, Inc.		238
	8	Stanley Works		286
	9	V.F. Corp.		512
	8	Whirlpool Corp.		322

				8,088

		Consumer Services — 1.7%
	11	Apollo Group, Inc. Class A (D)		865
	46	Carnival Corp.		1,124
	15	Darden Restaurants, Inc.		415
	36	H & R Block, Inc.		814
	31	International Game Technology		371
	31	Marriott International, Inc. Class A		604
	118	McDonald’s Corp.		7,331
	78	Starbucks Corp. (D)		736
	19	Starwood Hotels & Resorts		346
	19	Wyndham Worldwide Corp.		123
	7	Wynn Resorts Ltd. (D)		275
	49	Yum! Brands, Inc.		1,542

				14,546

The accompanying notes are an integral part of these financial statements.

106


			Market
Shares			Value (W)


COMMON STOCK — (continued)
		Diversified Financials — 6.1%
	22	American Capital, Ltd.	$	72
	123	American Express Co.		2,277
	23	Ameriprise Financial, Inc.		534
	531	Bank of America Corp.		7,474
	121	Bank of New York Mellon Corp.		3,440
	41	Capital One Financial Corp.		1,320
	99	Charles Schwab Corp.		1,600
	38	CIT Group, Inc.		173
	576	Citigroup, Inc.		3,868
	7	CME Group, Inc.		1,472
	51	Discover Financial Services, Inc.		483
	60	E*Trade Financial Corp. (D)		68
	9	Federated Investors, Inc.		159
	16	Franklin Resources, Inc.		1,021
	47	Goldman Sachs Group, Inc.		3,949
	8	IntercontinentalExchange, Inc. (D)		628
	41	Invesco Ltd.		588
	17	Janus Capital Group, Inc.		134
	395	JP Morgan Chase & Co.		12,451
	15	Legg Mason, Inc.		328
	19	Leucadia National Corp.		371
	169	Merrill Lynch & Co., Inc.		1,972
	21	Moody’s Corp.		414
	112	Morgan Stanley		1,803
	14	Nasdaq Stock Market, Inc. (D)		356
	24	Northern Trust Corp.		1,231
	28	NYSE Euronext		766
	49	SLM Corp. (D)		439
	46	State Street Corp.		1,796
	27	T. Rowe Price Group, Inc.		969

				52,156

		Energy — 12.9%
	49	Anadarko Petroleum Corp.		1,872
	35	Apache Corp.		2,642
	33	Baker Hughes, Inc.		1,045
	31	BJ Services Co.		360
	11	Cabot Oil & Gas Corp.		284
	23	Cameron International Corp. (D)		476
	57	Chesapeake Energy Corp.		926
	215	Chevron Corp.		15,900
	158	ConocoPhillips Holding Co.		8,168
	19	Consol Energy, Inc.		548
	47	Devon Energy Corp.		3,074
	74	El Paso Corp.		580
	15	ENSCO International, Inc.		425
	26	EOG Resources, Inc.		1,758
	538	Exxon Mobil Corp.		42,960
	95	Halliburton Co.		1,718
	30	Hess Corp.		1,608
	75	Marathon Oil Corp.		2,042
	9	Massey Energy Co.		124
	20	Murphy Oil Corp.		893
	30	Nabors Industries Ltd. (D)		360
	44	National Oilwell Varco, Inc. (D)		1,079
	28	Noble Corp.		617
	18	Noble Energy, Inc.		900
	86	Occidental Petroleum Corp.		5,142
	28	Peabody Energy Corp.		642
	13	Pioneer Natural Resources Co.		202
	16	Range Resources Corp.		564
	12	Rowan Companies, Inc.		190
	127	Schlumberger Ltd.		5,358
	23	Smith International, Inc.		531
	36	Southwestern Energy Co. (D)		1,052
	65	Spectra Energy Corp.		1,017
	12	Sunoco, Inc.		538
	15	Tesoro Corp.		192
	55	Valero Energy Corp.		1,182
	72	Weatherford International Ltd. (D)		779
	61	Williams Cos., Inc.		887
	61	XTO Energy, Inc.		2,151

				110,786

		Food & Staples Retailing — 3.2%
	46	Costco Wholesale Corp.		2,400
	152	CVS/Caremark Corp.		4,366
	69	Kroger Co.		1,823
	45	Safeway, Inc.		1,078
	22	Supervalu, Inc.		327
	63	Sysco Corp.		1,455
	105	Walgreen Co.		2,583
	237	Wal-Mart Stores, Inc.		13,259
	15	Whole Foods Market, Inc.		140

				27,431

		Food, Beverage & Tobacco — 6.0%
	218	Altria Group, Inc.		3,283
	68	Archer Daniels Midland Co.		1,957
	10	Brown-Forman Corp.		533
	22	Campbell Soup Co.		653
	210	Coca-Cola Co.		9,528
	34	Coca-Cola Enterprises, Inc.		403
	47	ConAgra Foods, Inc.		781
	21	Constellation Brands, Inc. Class A (D)		325
	16	Dean Foods Co. (D)		293
	27	Dr Pepper Snapple Group (D)		435
	35	General Mills, Inc.		2,145
	33	H.J. Heinz Co.		1,251
	18	Hershey Co.		609
	13	J. M. Smucker Co.		542
	27	Kellogg Co.		1,169
	155	Kraft Foods, Inc.		4,174
	18	Lorillard, Inc.		1,001
	14	McCormick & Co., Inc.		438
	16	Molson Coors Brewing Co.		769
	14	Pepsi Bottling Group, Inc.		321
	164	PepsiCo, Inc.		9,002
	214	Philip Morris International, Inc.		9,311
	18	Reynolds American, Inc.		721
	75	Sara Lee Corp.		731
	32	Tyson Foods, Inc. Class A		281
	16	UST, Inc.		1,086

				51,742

		Health Care Equipment & Services — 4.2%
	49	Aetna, Inc.		1,391
	17	Amerisource Bergen Corp.		590
	10	Bard (C.R.), Inc.		884
	66	Baxter International, Inc.		3,519
	26	Becton, Dickinson & Co.		1,761

The accompanying notes are an integral part of these financial statements.

107

Hartford Index HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)


COMMON STOCK — (continued)

		Health Care Equipment & Services — (continued)
	159	Boston Scientific Corp. (D)	$	1,229
	38	Cardinal Health, Inc.		1,310
	29	CIGNA Corp.		491
	16	Coventry Health Care, Inc. (D)		235
	53	Covidien Ltd.		1,931
	11	DaVita, Inc. (D)		545
	16	Dentsply International, Inc.		446
	26	Express Scripts, Inc. (D)		1,441
	17	Hospira, Inc. (D)		453
	18	Humana, Inc. (D)		666
	19	IMS Health, Inc.		292
	4	Intuitive Surgical, Inc. (D)		521
	11	Laboratory Corp. of America Holdings (D)		736
	29	McKesson Corp.		1,129
	53	Medco Health Solutions, Inc. (D)		2,210
	118	Medtronic, Inc.		3,717
	10	Patterson Cos., Inc. (D)		180
	17	Quest Diagnostics, Inc.		872
	36	St. Jude Medical, Inc. (D)		1,199
	26	Stryker Corp.		1,025
	44	Tenet Healthcare Corp. (D)		51
	128	UnitedHealth Group, Inc.		3,399
	13	Varian Medical Systems, Inc. (D)		461
	54	Wellpoint, Inc. (D)		2,268
	24	Zimmer Holdings, Inc. (D)		959

				35,911

		Household & Personal Products — 3.2%
	45	Avon Products, Inc.		1,085
	15	Clorox Co.		815
	53	Colgate-Palmolive Co.		3,661
	12	Estee Lauder Co., Inc.		379
	44	Kimberly-Clark Corp.		2,307
	316	Procter & Gamble Co.		19,530

				27,777

		Insurance — 2.6%
	51	Aflac, Inc.		2,333
	58	Allstate Corp.		1,910
	292	American International Group, Inc.		459
	29	AON Corp.		1,302
	13	Assurant, Inc.		383
	39	Chubb Corp.		1,974
	18	Cincinnati Financial Corp.		514
	47	Genworth Financial, Inc.		133
	28	Lincoln National Corp.		526
	39	Loews Corp.		1,113
	54	Marsh & McLennan Cos., Inc.		1,320
	21	MBIA, Inc.		84
	87	MetLife, Inc.		3,020
	28	Principal Financial Group, Inc.		639
	73	Progressive Corp.		1,088
	46	Prudential Financial, Inc.		1,401
	9	Torchmark Corp.		414
	64	Travelers Cos., Inc.		2,873
	36	Unum Group		673
	36	XL Capital Ltd. Class A		133

				22,292

		Materials — 2.9%
	22	Air Products and Chemicals, Inc.		1,113
	12	AK Steel Holding Corp.		112
	85	Alcoa, Inc.		954
	10	Allegheny Technologies, Inc.		259
	10	Ball Corp.		417
	11	Bemis Co., Inc.		251
	6	CF Industries Holdings, Inc.		295
	98	Dow Chemical Co.		1,475
	95	E.I. DuPont de Nemours & Co.		2,415
	8	Eastman Chemical Co.		243
	18	Ecolab, Inc.		623
	40	Freeport-McMoRan Copper & Gold, Inc.		977
	8	International Flavors & Fragrances, Inc.		247
	45	International Paper Co.		534
	18	MeadWestvaco Corp.		202
	58	Monsanto Co.		4,077
	48	Newmont Mining Corp.		1,956
	33	Nucor Corp.		1,533
	18	Owens-Illinois, Inc. (D)		481
	14	Pactiv Corp. (D)		347
	17	PPG Industries, Inc.		738
	33	Praxair, Inc.		1,938
	13	Rohm & Haas Co.		817
	17	Sealed Air Corp.		249
	13	Sigma-Aldrich Corp.		558
	9	Titanium Metals Corp.		80
	12	United States Steel Corp.		458
	12	Vulcan Materials Co.		812
	22	Weyerhaeuser Co.		684

				24,845

		Media — 2.5%
	72	CBS Corp. Class B		589
	305	Comcast Corp. Class A		5,142
	58	DirecTV Group, Inc. (D)		1,323
	24	Gannett Co., Inc.		193
	50	Interpublic Group of Cos., Inc. (D)		200
	33	McGraw-Hill Cos., Inc.		772
	4	Meredith Corp.		65
	12	New York Times Co. Class A		90
	243	News Corp. Class A		2,211
	33	Omnicom Group, Inc.		884
	10	Scripps Networks Interactive Class A		210
	380	Time Warner, Inc.		3,818
	65	Viacom, Inc. Class B (D)		1,238
	196	Walt Disney Co.		4,443
	1	Washington Post Co. Class B		254

				21,432

		Pharmaceuticals, Biotechnology & Life Sciences — 10.2%
	164	Abbott Laboratories		8,761
	33	Allergan, Inc.		1,313
	112	Amgen, Inc. (D)		6,474
	31	Biogen Idec, Inc. (D)		1,470
	209	Bristol-Myers Squibb Co.		4,869
	48	Celgene Corp. (D)		2,678
	7	Cephalon, Inc. (D)		555
	106	Eli Lilly & Co.		4,263
	32	Forest Laboratories, Inc. (D)		813

The accompanying notes are an integral part of these financial statements.

108


			Market
Shares			Value (W)


COMMON STOCK — (continued)

		Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	29	Genzyme Corp. (D)	$	1,899
	97	Gilead Sciences, Inc. (D)		4,977
	294	Johnson & Johnson		17,564
	26	King Pharmaceuticals, Inc. (D)		277
	18	Life Technologies Corp. (D)		425
	224	Merck & Co., Inc.		6,801
	6	Millipore Corp. (D)		301
	32	Mylan, Inc. (D)		319
	12	PerkinElmer, Inc.		174
	713	Pfizer, Inc.		12,633
	172	Schering-Plough Corp.		2,929
	44	Thermo Fisher Scientific, Inc. (D)		1,514
	10	Waters Corp. (D)		382
	11	Watson Pharmaceuticals, Inc. (D)		294
	141	Wyeth		5,286

				86,971

		Real Estate — 1.0%
	11	Apartment Investment & Management Co.		124
	8	Avalonbay Communities, Inc.		493
	13	Boston Properties, Inc.		705
	24	CB Richard Ellis Group, Inc. Class A (D)		102
	13	Developers Diversified Realty Corp.		63
	29	Equity Residential Properties Trust		857
	27	HCP, Inc.		741
	55	Host Hotels & Resorts, Inc.		418
	24	Kimco Realty Corp.		443
	18	Plum Creek Timber Co., Inc.		615
	28	ProLogis		390
	13	Public Storage		1,052
	24	Simon Property Group, Inc.		1,269
	14	Vornado Realty Trust		875

				8,147

		Retailing — 2.7%
	9	Abercrombie & Fitch Co. Class A		211
	34	Amazon.com, Inc. (D)		1,747
	12	AutoNation, Inc. (D)		114
	4	AutoZone, Inc. (D)		566
	28	Bed Bath & Beyond, Inc. (D)		699
	36	Best Buy Co., Inc.		1,004
	9	Big Lots, Inc. (D)		125
	22	Expedia, Inc. (D)		183
	15	Family Dollar Stores, Inc.		384
	17	GameStop Corp. Class A (D)		376
	49	Gap, Inc.		661
	17	Genuine Parts Co.		639
	179	Home Depot, Inc.		4,130
	24	J. C. Penney Co., Inc.		463
	32	Kohl’s Corp. (D)		1,166
	29	Limited Brands, Inc.		287
	155	Lowe’s Co., Inc.		3,337
	44	Macy’s, Inc.		461
	17	Nordstrom, Inc.		224
	29	Office Depot, Inc. (D)		88
	13	RadioShack Corp.		158
	6	Sears Holdings Corp. (D)		228
	10	Sherwin-Williams Co.		619
	75	Staples, Inc.		1,352
	80	Target Corp.		2,750
	13	Tiffany & Co.		307
	44	TJX Cos., Inc.		907

				23,186

		Semiconductors & Semiconductor Equipment — 2.1%
	64	Advanced Micro Devices, Inc. (D)		139
	31	Altera Corp.		526
	31	Analog Devices, Inc.		586
	142	Applied Materials, Inc.		1,438
	47	Broadcom Corp. Class A (D)		797
	588	Intel Corp.		8,627
	18	KLA-Tencor Corp.		389
	23	Linear Technology Corp.		519
	68	LSI Corp. (D)		225
	24	MEMC Electronic Materials, Inc. (D)		339
	19	Microchip Technology, Inc.		376
	81	Micron Technology, Inc. (D)		213
	21	National Semiconductor Corp.		208
	10	Novellus Systems, Inc. (D)		128
	57	NVIDIA Corp. (D)		458
	18	Teradyne, Inc. (D)		76
	137	Texas Instruments, Inc.		2,129
	29	Xilinx, Inc.		516

				17,689

		Software & Services — 5.9%
	56	Adobe Systems, Inc. (D)		1,197
	10	Affiliated Computer Services, Inc. Class A (D)		475
	18	Akamai Technologies, Inc. (D)		271
	24	Autodesk, Inc. (D)		471
	54	Automatic Data Processing, Inc.		2,112
	20	BMC Software, Inc. (D)		533
	42	CA, Inc.		772
	19	Citrix Systems, Inc. (D)		454
	31	Cognizant Technology Solutions Corp. (D)		557
	16	Computer Sciences Corp. (D)		565
	26	Compuware Corp. (D)		176
	13	Convergys Corp. (D)		83
	113	eBay, Inc. (D)		1,584
	34	Electronic Arts, Inc. (D)		545
	20	Fidelity National Information Services, Inc.		327
	17	Fiserv, Inc. (D)		617
	25	Google, Inc. (D)		7,775
	34	Intuit, Inc. (D)		804
	8	MasterCard, Inc.		1,101
	16	McAfee, Inc. (D)		557
	809	Microsoft Corp.		15,733
	37	Novell, Inc. (D)		142
	414	Oracle Corp. (D)		7,348
	34	Paychex, Inc.		894
	11	Salesforce.com, Inc. (D)		355
	88	Symantec Corp. (D)		1,195
	21	Total System Services, Inc.		291
	21	VeriSign, Inc. (D)		391
	76	Western Union Co.		1,086

The accompanying notes are an integral part of these financial statements.

109

Hartford Index HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)


COMMON STOCK — (continued)

		Software & Services — (continued)
	147	Yahoo!, Inc. (D)	$	1,791

				50,202

		Technology Hardware & Equipment — 6.9%
	37	Agilent Technologies, Inc. (D)		579
	19	Amphenol Corp. Class A		446
	94	Apple, Inc. (D)		8,028
	10	Ciena Corp. (D)		64
	619	Cisco Systems, Inc. (D)		10,097
	164	Corning, Inc.		1,567
	183	Dell, Inc. (D)		1,875
	216	EMC Corp. (D)		2,261
	15	FLIR Systems, Inc. (D)		451
	14	Harris Corp.		540
	259	Hewlett-Packard Co.		9,405
	142	International Business Machines Corp.		11,963
	22	Jabil Circuit, Inc.		150
	23	JDS Uniphase Corp. (D)		85
	56	Juniper Networks, Inc. (D)		979
	8	Lexmark International, Inc. ADR (D)		224
	15	Molex, Inc.		216
	240	Motorola, Inc.		1,061
	35	NetApp, Inc. (D)		488
	14	QLogic Corp. (D)		182
	175	Qualcomm, Inc.		6,275
	24	SanDisk Corp. (D)		231
	78	Sun Microsystems, Inc. (D)		298
	42	Tellabs, Inc. (D)		173
	19	Teradata Corp. (D)		277
	48	Tyco Electronics Ltd.		785
	92	Xerox Corp.		730

				59,430

		Telecommunication Services — 3.7%
	42	American Tower Corp. Class A (D)		1,230
	623	AT&T, Inc.		17,768
	11	CenturyTel, Inc.		291
	15	Embarq Corp.		541
	33	Frontier Communications Corp.		287
	155	Qwest Communications International, Inc.		564
	302	Sprint Nextel Corp.		552
	301	Verizon Communications, Inc.		10,188
	47	Windstream Corp.		428

				31,849

		Transportation — 2.2%
	30	Burlington Northern Santa Fe Corp.		2,245
	18	C.H. Robinson Worldwide, Inc.		986
	42	CSX Corp.		1,354
	22	Expeditors International of Washington, Inc.		745
	33	FedEx Corp.		2,110
	39	Norfolk Southern Corp.		1,845
	6	Ryder System, Inc.		229
	78	Southwest Airlines Co.		674
	54	Union Pacific Corp.		2,563
	105	United Parcel Service, Inc. Class B		5,805

				18,556

		Utilities — 4.1%
	71	AES Corp. (D)		587
	18	Allegheny Energy, Inc.		607
	22	Ameren Corp.		744
	43	American Electric Power Co., Inc.		1,423
	36	CenterPoint Energy, Inc.		460
	24	CMS Energy Corp.		241
	29	Consolidated Edison, Inc.		1,127
	19	Constellation Energy Group, Inc.		474
	62	Dominion Resources, Inc.		2,205
	17	DTE Energy Co.		614
	134	Duke Energy Corp.		2,010
	54	Dynegy Holdings, Inc. (D)		108
	34	Edison International		1,107
	20	Entergy Corp.		1,664
	14	Equitable Resources, Inc.		463
	70	Exelon Corp.		3,871
	32	FirstEnergy Corp.		1,565
	43	FPL Group, Inc.		2,178
	8	Integrys Energy Group, Inc.		346
	5	Nicor, Inc.		167
	29	NiSource, Inc.		319
	23	Pepco Holdings, Inc.		407
	38	PG&E Corp.		1,479
	11	Pinnacle West Capital Corp.		341
	40	PPL Corp.		1,217
	28	Progress Energy, Inc.		1,108
	54	Public Service Enterprise Group, Inc.		1,563
	18	Questar Corp.		601
	12	SCANA Corp.		441
	26	Sempra Energy		1,097
	82	Southern Co.		3,033
	22	TECO Energy, Inc.		278
	12	Wisconsin Energy Corp.		521
	48	Xcel Energy, Inc.		882

				35,248

		Total common stock (cost $1,072,365)	$	832,111


Principal
Amount

SHORT-TERM INVESTMENTS — 2.1%
		Repurchase Agreements — 1.8%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $8,411, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $8,494)
$	8,411	0.01% dated 12/31/2008	$	8,411
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $5,576, collateralized by U.S. Treasury Note 3.13%, 2013, value of $5,671)
	5,576	0.03% dated 12/31/2008		5,576
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,297, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $1,298)
	1,297	0.02% dated 12/31/2008		1,297

				15,284

The accompanying notes are an integral part of these financial statements.

110


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)
		U.S. Treasury Bills — 0.3%
$	2,898	0.33%, 01/15/2009 (M) (S)			$	2,900

		Total short-term investments (cost $18,182)			$	18,184

		Total investments (cost $1,090,547) (C)	99.3	%	$	850,295
		Other assets and liabilities	0.7	%		5,800

		Total net assets	100.0	%	$	856,095


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,115,052 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	115,917
Unrealized Depreciation		(380,674	)

Net Unrealized Depreciation	$	(264,757	)


(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

S&P 500 Index

Long

Mar 2009

180


*		The number of contracts does not omit 000’s.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

111

Hartford International Growth HLS Fund

Schedule of Investments

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — 98.2%
		Australia — 0.9%
	144	CSL Ltd.	$	3,475
		Belgium — 1.0%
	2,383	Hansen Transmissions (D)		4,005
		Brazil — 2.1%
	301	Companhia Vale do Rio Doce ADR		3,640
	195	Petroleo Brasileiro S.A. ADR		4,783

				8,423

		Canada — 7.4%
	215	Barrick Gold Corp.		7,887
	115	Canadian Natural Resources Ltd.		4,608
	59	Potash Corp. of Saskatchewan, Inc.		4,327
	101	Research In Motion Ltd. (D)		4,095
	147	Rogers Communications, Inc. Class B		4,411
	235	Suncor Energy, Inc.		4,575

				29,903

		China — 2.1%
	2,981	China Communications Construction Co., Ltd.		3,725
	1,051	China Merchants Bank Co., Ltd.		1,966
	86	Ctrip.com International Ltd. ADR		2,052
	54	LDK Solar Co., Ltd. (D)		712

				8,455

		Denmark — 1.2%
	84	Vestas Wind Systems A/S (D)		4,966
		Finland — 0.4%
	75	Fortum Corp.		1,640
		France — 9.6%
	339	France Telecom S.A.		9,503
	25	Neopost S.A.		2,299
	25	Pinault-Printemps-Redoute S.A.		1,661
	165	Sanofi-Aventis S.A.		10,622
	157	Total S.A.		8,695
	40	Veolia Environment S.A.		1,255
	133	Vivendi S.A.		4,367

				38,402

		Germany — 6.9%
	54	Allianz SE		5,764
	244	Deutsche Telekom AG		3,700
	87	Fresenius Medical Care AG & Co.		4,070
	51	Metro AG		2,044
	39	Muenchener Rueckversicherungs-Gesellschaft AG		6,078
	56	Salzgitter AG		4,335
	23	Siemens AG		1,721

				27,712

		Hong Kong — 0.9%
	358	China Mobile Ltd.		3,627
		Israel — 3.1%
	293	Teva Pharmaceutical Industries Ltd. ADR		12,490
		Japan — 13.0%
	65	Astellas Pharma, Inc.		2,667
	1	East Japan Railway Co. (A)(H)		4,010
	68	Eisai Co., Ltd.		2,844
	178	Komatsu Ltd.		2,262
	215	Mitsui Fudosan Co., Ltd.		3,582
	1	Mizuho Financial Group, Inc. (A)(H)		3,539
	22	Nintendo Co., Ltd.		8,439
	353	Nomura Holdings, Inc.		2,938
	1	NTT DoCoMo, Inc.		2,498
	486	Softbank Corp.		8,818
	77	Uni-Charm Corp.		5,803
	12	Yahoo Japan Corp.		4,940

				52,340

		Netherlands — 6.0%
	182	ASML Holding N.V.		3,305
	575	Koninklijke (Royal) KPN N.V.		8,398
	280	Koninklijke Ahold N.V.		3,463
	339	Royal Dutch Shell plc		9,036

				24,202

		Norway — 0.4%
	181	Seadrill Ltd.		1,485
		Spain — 1.2%
	61	Industria de Diseno Textil S.A.		2,740
	87	Telefonica S.A.		1,971

				4,711

		Sweden — 1.5%
	50	Hennes & Mauritz AB		1,997
	267	Swedish Match AB		3,896

				5,893

		Switzerland — 10.1%
	195	ABB Ltd.		2,967
	70	Actelion Ltd. (D)		3,940
	2	Barry Callebaut AG		1,098
	155	Julius Baer Holding Ltd.		5,999
	173	Nestle S.A.		6,818
	58	Roche Holding AG		9,003
	28	Synthes, Inc.		3,513
	506	UBS AG (D)		7,343

				40,681

		United Kingdom — 30.4%
	711	3I Group plc		2,827
	232	Anglo American plc		5,488
	4,185	Arm Holdings plc		5,377
	303	AstraZeneca plc		12,571
	561	Autonomy Corp. plc (D)		7,926
	179	BG Group plc		2,513
	385	BHP Billiton plc		7,575
	481	BP plc		3,766
	226	British American Tobacco plc		5,985
	491	Cadbury plc		4,404
	944	Capita Group plc		10,282
	2,338	easyJet plc (D)		9,753
	1,411	J Sainsbury plc		6,835
	1,265	Michael Page International plc		4,036
	97	Next plc		1,551
	112	Reckitt Benckiser Group plc		4,275
	228	Shire plc		3,404
	529	Standard Chartered plc		6,871
	4,809	Vodafone Group plc		9,993

The accompanying notes are an integral part of these financial statements.

112


					Market
Shares					Value (W)


COMMON STOCK — (continued)

		United Kingdom — (continued)
	1,695	Wm Morrison Supermarkets			$	6,973

						122,405

		Total common stock (cost $416,424)			$	394,815


Principal
Amount

SHORT-TERM INVESTMENTS — 1.5%
		Repurchase Agreements — 1.5%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $5, collateralized by U.S. Treasury Note 4.50%, 2009, value of $5)
$	5	0.03% dated 12/31/2008			$	5
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,987, collateralized by FNMA 5.00%, 2035 — 2038, value of $2,026)
	1,987	0.08% dated 12/31/2008				1,987
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $87, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $89)
	87	0.07% dated 12/31/2008				87
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,921, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $1,960)
	1,921	0.10% dated 12/31/2008				1,921
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,768, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $1,804)
	1,768	0.05% dated 12/31/2008				1,768
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $240, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $245)
	240	0.07% dated 12/31/2008				240

		Total short-term investments (cost $6,008)			$	6,008

		Total investments (cost $422,432) (C)	99.7	%	$	400,823
		Other assets and liabilities	0.3	%		1,186

		Total net assets	100.0	%	$	402,009


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 98.21% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $486,550 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	22,267
Unrealized Depreciation		(107,994	)

Net Unrealized Depreciation	$	(85,727	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $7,549, which represents 1.88% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.
(D)		Currently non-income producing.
(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis

11/2008 – 12/2008		1	East Japan Railway Co.	$	4,187
12/2008		1	Mizuho Financial Group, Inc.		3,187


		The aggregate value of these securities at December 31, 2008 was $7,549 which represents 1.88% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2008

Unrealized

Market

Contract

Delivery

Appreciation/

Description

Value (W)

Amount

Date

(Depreciation)

Hong Kong Dollar (Sell)

304

01/02/09

—


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets
Banks		3.1	%


Capital Goods		4.8


Commercial & Professional Services		3.6


Consumer Services		0.5


Diversified Financials		4.7


Energy		9.7


Food & Staples Retailing		4.8


Food, Beverage & Tobacco		5.6


Health Care Equipment & Services		1.9


Household & Personal Products		2.5


Insurance		3.0


Materials		8.4


Media		1.1


Pharmaceuticals, Biotechnology & Life Sciences		15.1


Real Estate		0.9


Retailing		2.0


Semiconductors & Semiconductor Equipment		2.3


Software & Services		5.3


Technology Hardware & Equipment		1.6


Telecommunication Services		13.2


Transportation		3.4


Utilities		0.7


Short-Term Investments		1.5


Other Assets and Liabilities		0.3


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

113

Hartford International Opportunities HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 87.5%
		Brazil — 1.0%
	1,061	Companhia Vale do Rio Doce ADR	$	12,843
		Canada — 4.1%
	682	Brookfield Asset Management, Inc.		10,394
	441	Canadian Natural Resources Ltd.		17,660
	253	EnCana Corp.		11,834
	—	Nortel Networks Corp. (D)		—
	306	Toronto-Dominion Bank		10,916

				50,804

		China — 0.4%
	1,672	China Life Insurance Co., Ltd.		5,137
		Denmark — 1.0%
	233	Novo Nordisk A/S		12,083
		France — 11.0%
	1,250	France Telecom S.A.		35,022
	351	Groupe Danone		21,337
	238	L’Oreal S.A.		20,874
	203	Michelin (C.G.D.E.) Class B		10,793
	144	Societe Generale Class A		7,329
	740	Total S.A.		40,862

				136,217

		Germany — 6.6%
	140	Allianz SE		14,959
	312	Deutsche Boerse AG		22,682
	243	E.On AG		9,431
	31	Man AG		1,800
	121	Muenchener Rueckversicherungs- Gesellschaft AG		18,670
	99	SAP AG		3,574
	130	Siemens AG		9,885

				81,001

		Hong Kong — 1.5%
	984	Esprit Holdings Ltd.		5,604
	11,436	Shangri-La Asia Ltd.		13,228

				18,832

		India — 0.5%
	245	Reliance Industries, Ltd.		6,227
		Ireland — 2.0%
	518	CRH plc		13,386
	1,025	Ryanair Holdings plc (D)		4,370
	227	Ryanair Holdings plc ADR (D)		6,605

				24,361

		Israel — 1.8%
	525	Teva Pharmaceutical Industries Ltd. ADR		22,362
		Italy — 0.4%
	2,016	Unicredit S.p.A.		5,152
		Japan — 14.2%
	207	Astellas Pharma, Inc.		8,450
	324	Canon, Inc.		10,245
	599	Denso Corp.		10,144
	2	East Japan Railway Co. (A)(H)		16,784
	282	Eisai Co., Ltd.		11,759
	4	Japan Tobacco, Inc.		14,252
	831	Mitsubishi Estate Co., Ltd.		13,717
	16	Nintendo Co., Ltd.		6,071
	5	Nippon Telegraph & Telephone Corp. (A)(H)		26,738
	46	Nitori Co., Ltd.		3,565
	524	Olympus Corp.		10,482
	101	Secom Co., Ltd.		5,218
	773	Softbank Corp.		14,026
	4	Sumitomo Mitsui Financial Group, Inc. (A)(H)		15,024
	2,045	Toshiba Corp.		8,408

				174,883

		Luxembourg — 0.6%
	306	Arcelor		7,460
		Mexico — 0.5%
	688	Cemex S.A. de C.V. ADR (D)		6,289
		Netherlands — 2.9%
	1,798	Koninklijke (Royal) KPN N.V.		26,263
	364	Unilever N.V. CVA		8,867

				35,130

		Russia — 0.3%
	154	Mobile Telesystems OJSC ADR		4,101
		South Korea — 0.6%
	19	Samsung Electronics Co., Ltd.		6,940
		Spain — 2.9%
	1,198	Banco Bilbao Vizcaya Argentaria S.A.		14,919
	562	Enagas		12,472
	172	Industria de Diseno Textil S.A.		7,710

				35,101

		Sweden — 0.8%
	315	Assa Abloy AB		3,705
	395	Atlas Copco Ab		3,516
	79	Hennes & Mauritz Ab		3,160

				10,381

		Switzerland — 11.3%
	414	Julius Baer Holding Ltd.		16,035
	965	Nestle S.A.		38,161
	268	Novartis AG		13,406
	195	Roche Holding AG		30,113
	99	Synthes, Inc.		12,554
	2,050	UBS AG (D)		29,769

				140,038

		Taiwan — 1.1%
	2,815	Hon Hai Precision Industry Co., Ltd.		5,555
	1,003	Taiwan Semiconductor Manufacturing Co., Ltd. ADR		7,923

				13,478

		United Kingdom — 22.0%
	632	AstraZeneca plc		26,252
	1,048	BG Group plc		14,728
	1,386	BHP Billiton plc		27,275
	3,169	BP plc		24,826
	240	British American Tobacco plc		6,350
	1,072	British Land Co. plc		8,717

The accompanying notes are an integral part of these financial statements.

114


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		United Kingdom — (continued)
	2,300	HSBC Holding plc			$	22,841
	837	Imperial Tobacco Group plc				22,693
	2,820	National Grid plc				28,284
	650	Rio Tinto plc				14,670
	1,038	SABMiller plc				17,686
	1,102	Standard Chartered plc				14,312
	18,388	Vodafone Group plc				38,211
	952	Wolseley plc				5,383

						272,228

		Total common stock (cost $1,285,698)			$	1,081,048


EXCHANGE TRADED FUNDS — 7.5%
		United States — 7.5%
	966	iShares MSCI EAFE Index Fund			$	43,362
	1,203	iShares MSCI Emerging Markets Index Fund				30,049
	333	iShares MSCI Japan				3,197
	406	iShares MSCI Pac Ex				10,703
	164	iShares S&P Eur 350				5,109

		Total exchange traded funds (cost $94,987)			$	92,420

		Total long-term investments (cost $1,380,685)			$	1,173,468


Principal
Amount

SHORT-TERM INVESTMENTS — 6.0%
		Repurchase Agreements — 6.0%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $57, collateralized by U.S. Treasury Note 4.50%, 2009, value of $58)
$	57	0.03% dated 12/31/2008			$	57
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $24,563, collateralized by FNMA 5.00%, 2035 — 2038, value of $25,054)
	24,563	0.08% dated 12/31/2008				24,563
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,080, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $1,101)
	1,080	0.07% dated 12/31/2008				1,080
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $23,753, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $24,228)
	23,753	0.10% dated 12/31/2008				23,753
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $21,864, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $22,301)
	21,863	0.05% dated 12/31/2008				21,863
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,969, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $3,029)
	2,969	0.07% dated 12/31/2008				2,969

		Total short-term investments (cost $74,285)			$	74,285

		Total investments (cost $1,454,970) (C)	101.0	%	$	1,247,753
		Other assets and liabilities	(1.0	)%		(12,298	)

		Total net assets	100.0	%	$	1,235,455


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 87.50% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,511,878 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	37,423
Unrealized Depreciation		(301,548	)

Net Unrealized Depreciation	$	(264,125	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $58,546, which represents 4.74% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
9/2008 – 12/2008		2	East Japan Railway Co.	$	16,581
10/2008 – 11/2008		5	Nippon Telegraph & Telephone Corp.		23,444
8/2008 – 10/2008		4	Sumitomo Mitsui Financial Group, Inc.		22,133


		The aggregate value of these securities at December 31, 2008 was $58,546 which represents 4.74% of total net assets.

The accompanying notes are an integral part of these financial statements.

115

Hartford International Opportunities HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

British Pound (Buy)	$	1,683	$	1,664		01/05/09	$	19
British Pound (Buy)		1,387		1,390		01/06/09		(3	)
Euro (Buy)		9,755		9,785		01/02/09		(30	)
Hong Kong Dollar (Buy)		1,237		1,237		01/05/09		—

							$	(14	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets
Automobiles & Components		1.7	%


Banks		7.3


Capital Goods		2.0


Commercial & Professional Services		0.4


Consumer Durables & Apparel		0.8


Consumer Services		1.1


Diversified Financials		5.5


Energy		9.4


Food, Beverage & Tobacco		10.5


Health Care Equipment & Services		1.9


Household & Personal Products		1.7


Insurance		3.1


Materials		6.6


Other Investment Pools and Funds		7.5


Pharmaceuticals, Biotechnology & Life Sciences		10.1


Real Estate		1.8


Retailing		1.6


Semiconductors & Semiconductor Equipment		1.2


Software & Services		0.8


Technology Hardware & Equipment		2.0


Telecommunication Services		11.7


Transportation		2.2


Utilities		4.1


Short-Term Investments		6.0


Other Assets and Liabilities		(1.0	)


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

116

Hartford International Small Company HLS Fund

Schedule of Investments

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — 99.2%
		Australia — 3.9%
	64	AJ Lucas Group Ltd.	$	216
	349	Incitec Pivot Ltd.		625
	412	Karoon Gas Australia Ltd. (D)		1,073
	251	Ramsay Health Care Ltd.		1,858
	73	Sims Metal Management Ltd.		910
	748	Whitehaven Coal Ltd.		768
	127	Worleyparsons Ltd.		1,290

				6,740

		Belgium — 0.5%
	43	Umicore		860
		Brazil — 0.6%
	147	Dufry South America Ltd.		1,048
		China — 2.1%
	74	Mindray Medical International Ltd.		1,334
	1,492	Shandong Weigao Group Medical Polymer Co., Ltd.		2,271

				3,605

		Denmark — 1.8%
	20	Carlsberg A/S Class B		663
	51	H. Lundbeck A/S		1,064
	22	Vestas Wind Systems A/S (D)		1,313

				3,040

		France — 14.5%
	22	April Group		575
	34	BioMerieux S.A.		2,877
	21	Bureau Veritas S.A.		865
	13	Cegedim S.A.		669
	31	Eurofins Scientific		1,543
	16	Guerbet S.A.		2,325
	10	Guyenne et Gascogne S.A.		901
	53	Ipsen		2,068
	72	Korian		1,847
	149	Rhodia S.A.		949
	62	Scor Se		1,436
	30	Seche Environment		1,887
	74	Sechilienne S.A.		3,353
	21	Vilmorin & Cie		2,163
	20	Virbac S.A.		1,629

				25,087

		Germany — 5.6%
	140	ElringKlinger AG		1,407
	25	Hochtief AG		1,308
	23	K + S AG		1,354
	137	Kontron AG		1,407
	59	Praktiker Bau-Und Heimwerkermaerkte Holding AG		649
	59	Rhoen-Klinikum AG		1,462
	56	Stada Arzneimittel AG		1,606
	5	Vossloh AG		568

				9,761

		Hong Kong — 2.2%
	4,200	Huabao International Holdings Ltd.		2,760
	847	Shangri-La Asia Ltd.		980

				3,740

		Italy — 3.4%
	286	Antichi Pellettieri S.p.A.		1,140
	191	DiaSorin S.p.A.		3,911
	505	Immobiliare Grande Distribuzione		762

				5,813

		Japan — 30.4%
	101	Aeon Delight Co., Ltd.		2,918
	111	Air Water, Inc.		989
	396	Asics Corp.		3,206
	53	Benesse Corp.		2,300
	—	EPS Co., Ltd.		1,798
	110	Hitachi Metals Ltd.		511
	282	Iino Kaiun Kaisha Ltd.		1,825
	5	Jupiter Telecommunications Co., Ltd.		4,759
	64	Kobayashi Pharmaceutical Co., Ltd.		2,721
	44	Miura Co., Ltd.		1,094
	39	Moshi Moshi Hotline, Inc.		1,039
	207	Nabtesco Corp.		1,390
	21	Nidec Corp.		832
	91	OBIC Business Consultants Ltd.		3,786
	15	OBIC Co., Ltd.		2,389
	—	Osaka Securities Exchange Co., Ltd.		1,565
	35	Point, Inc.		1,912
	2	Rakuten, Inc. (D)		1,183
	155	Securities Carbon Ltd.		598
	494	Shinko Plantech Co., Ltd.		4,204
	183	Shionogi & Co., Ltd.		4,717
	17	Square Enix Holdings Co. Ltd		532
	8	Sundrug Co., Ltd.		233
	56	Sysmex Corp.		2,025
	50	Tsumura & Co.		1,843
	60	Unicharm Petcare Corp.		2,237

				52,606

		Korea (republic of) — 0.6%
	10	NHN Corp. (D)		1,059
		Liechtenstein — 0.8%
	10	Verwalt & Privat-Bank AG		1,301
		Netherlands — 1.5%
	259	Dockwise Ltd. (D)		149
	17	Smit International N.V.		838
	195	Spazio Investment N.V.		1,639

				2,626

		Norway — 3.0%
	1,139	DNO International ASA (D)		758
	75	Kongsberg Gruppen ASA		3,578
	35	Yara International ASA		767

				5,103

		Papua New Guinea — 0.3%
	263	New Britain Palm Oil Ltd.		606
		Singapore — 1.3%
	2,313	Goodpack Ltd.		1,351
	730	Hyflux Ltd.		920

				2,271

		South Korea — 1.6%
	63	Korea Plant Service & Engineering Co., Ltd. (D)		1,280
	4	Megastudy Co., Ltd. (D)		525

The accompanying notes are an integral part of these financial statements.

117

Hartford International Small Company HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


					Market
Shares					Value (W)


COMMON STOCK — (continued)

		South Korea — (continued)
	17	Mirae Asset Securities Co., Ltd.			$	991

						2,796

		Spain — 1.2%
	67	Grifols S.A.				1,177
	123	Laboratorios Almiral S.A.				974

						2,151

		Sweden — 2.8%
	196	Lundin Petroleum Ab (D)				1,064
	149	Sweco AB				686
	206	Swedish Match Ab				3,009

						4,759

		Switzerland — 6.4%
	20	Bachem Holding AG Class B				1,487
	127	Dufry Group				3,582
	34	Julius Baer Holding Ltd.				1,326
	118	Paris RE Holdings Ltd.				1,642
	49	Temenos Group AG (D)				653
	13	Valiant Holding AG				2,422

						11,112

		United Kingdom — 14.4%
	79	Admiral Group plc				1,058
	357	Babcock International Group plc				2,497
	317	Burberry Group plc				1,042
	30	Chemring Group plc				874
	413	Clapham House Group plc (D)				561
	123	Close Brothers Group plc				962
	197	Connaught plc				1,010
	309	Domino’s Pizza UK & IRL plc				759
	163	FirstGroup plc				1,046
	1,060	Hampson Industries plc				1,607
	170	Hamworthy KSE				605
	210	ICAP plc				899
	176	IG Group Holdings plc				669
	260	Lancashire Holdings Ltd.				1,621
	580	Mears Group plc				2,245
	245	Rexam plc				1,273
	142	Rightmove plc				371
	1,096	Senior plc				618
	114	SSL International plc				835
	162	Ultra Electronics Holdings plc				2,711
	197	VT Group plc				1,619

						24,882

		United States — 0.3%
	10	New Oriental Education & Technology Group, Inc. ADR (D)				560

		Total common stock (cost $230,455)			$	171,526

		Total investments (cost $230,455) (C)	99.2	%	$	171,526
		Other assets and liabilities	0.8	%		1,334

		Total net assets	100.0	%	$	172,860


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 98.90% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $232,652 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	7,419
Unrealized Depreciation		(68,545	)

Net Unrealized Depreciation	$	(61,126	)


(D)		Currently non-income producing.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Danish Krone (Sell)	$	718	$	717		01/02/09	$	(1	)
Euro (Sell)		86		86		01/02/09		—
Hong Kong Dollar (Sell)		59		59		01/02/09		—
Japanese Yen (Sell)		25		25		01/05/09		—
Japanese Yen (Sell)		548		552		01/06/09		4
Japanese Yen (Sell)		81		81		01/07/09		—
Norwegian Krone (Sell)		192		187		01/02/09		(5	)

							$	(2	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets
Automobiles & Components		0.8	%


Banks		1.4


Capital Goods		10.9


Commercial & Professional Services		7.9


Consumer Durables & Apparel		3.1


Consumer Services		3.3


Diversified Financials		4.4


Energy		5.4


Food & Staples Retailing		0.6


Food, Beverage & Tobacco		5.0


Health Care Equipment & Services		12.4


Household & Personal Products		1.6


Insurance		3.7


Materials		6.4


Media		3.0


Pharmaceuticals, Biotechnology & Life Sciences		11.5


Real Estate		1.4


Retailing		4.8


Semiconductors & Semiconductor Equipment		0.8


Software & Services		4.9


Technology Hardware & Equipment		0.5


Transportation		2.9


Utilities		2.5


Other Assets and Liabilities		0.8


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

118

Hartford LargeCap Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 98.0%
		Capital Goods — 6.8%
	15	3M Co.	$	834
	16	Boeing Co.		687
	9	Caterpillar, Inc.		406
	6	Danaher Corp.		340
	16	Emerson Electric Co.		587
	8	Fastenal Co.		265
	13	Graco, Inc.		318
	19	Honeywell International, Inc.		634
	11	Joy Global, Inc.		249
	9	Lockheed Martin Corp.		797
	9	MSC Industrial Direct Co., Inc.		328
	13	United Technologies Corp.		681

				6,126

		Commercial & Professional Services — 1.2%
	5	Dun & Bradstreet Corp.		386
	18	Pitney Bowes, Inc.		448
	5	Stericycle, Inc. (D)		271

				1,105

		Consumer Durables & Apparel — 1.3%
	16	Coach, Inc. (D)		334
	12	Hasbro, Inc.		359
	10	NIKE, Inc. Class B		494

				1,187

		Consumer Services — 3.8%
	5	Apollo Group, Inc. Class A (D)		399
	4	ITT Educational Services, Inc. (D)		370
	27	McDonald’s Corp.		1,692
	2	Strayer Education, Inc.		375
	17	Yum! Brands, Inc.		529

				3,365

		Diversified Financials — 1.9%
	13	American Express Co.		245
	23	Charles Schwab Corp.		374
	19	Eaton Vance Corp.		410
	23	SEI Investments Co.		369
	9	T. Rowe Price Group, Inc.		319

				1,717

		Energy — 7.5%
	10	Baker Hughes, Inc.		321
	10	ENSCO International, Inc.		272
	24	Exxon Mobil Corp.		1,882
	20	Halliburton Co.		368
	7	Murphy Oil Corp.		328
	20	Occidental Petroleum Corp.		1,176
	31	Patterson-UTI Energy, Inc.		355
	31	Schlumberger Ltd.		1,291
	8	Transocean, Inc. (D)		363
	24	Williams Cos., Inc.		346

				6,702

		Food & Staples Retailing — 4.3%
	7	Costco Wholesale Corp.		373
	19	CVS/Caremark Corp.		537
	17	Sysco Corp.		378
	15	Walgreen Co.		372
	38	Wal-Mart Stores, Inc.		2,156

				3,816

		Food, Beverage & Tobacco — 7.2%
	64	Altria Group, Inc.		956
	32	Coca-Cola Co.		1,426
	10	H.J. Heinz Co.		392
	32	PepsiCo, Inc.		1,778
	42	Philip Morris International, Inc.		1,845

				6,397

		Health Care Equipment & Services — 6.1%
	5	Bard (C.R.), Inc.		438
	17	Baxter International, Inc.		927
	7	Becton, Dickinson & Co.		451
	10	Cardinal Health, Inc.		338
	10	Express Scripts, Inc. (D)		572
	2	Intuitive Surgical, Inc. (D)		197
	9	Medco Health Solutions, Inc. (D)		377
	27	Medtronic, Inc.		843
	14	St. Jude Medical, Inc. (D)		456
	10	Stryker Corp.		388
	13	Varian Medical Systems, Inc. (D)		440

				5,427

		Household & Personal Products — 4.7%
	16	Avon Products, Inc.		389
	8	Church & Dwight Co., Inc.		438
	15	Colgate-Palmolive Co.		1,022
	21	Herbalife Ltd.		457
	16	NBTY, Inc. (D)		245
	26	Procter & Gamble Co.		1,619

				4,170

		Insurance — 0.3%
	7	Aflac, Inc.		316
		Materials — 2.9%
	7	CF Industries Holdings, Inc.		344
	15	Monsanto Co.		1,043
	14	Mosaic Co.		496
	7	Praxair, Inc.		404
	18	Terra Industries, Inc.		293

				2,580

		Media — 1.4%
	26	Comcast Corp. Class A		439
	15	DirecTV Group, Inc. (D)		349
	18	DISH Network Corp. (D)		199
	9	Morningstar, Inc. (D)		316

				1,303

		Pharmaceuticals, Biotechnology & Life Sciences — 10.2%
	33	Abbott Laboratories		1,751
	36	Bristol-Myers Squibb Co.		830
	6	Celgene Corp. (D)		354
	11	Genentech, Inc. (D)		908
	4	Genzyme Corp. (D)		265
	20	Gilead Sciences, Inc. (D)		1,028
	18	Johnson & Johnson		1,084
	17	Merck & Co., Inc.		523
	8	Millipore Corp. (D)		386
	11	Perrigo Co.		359
	13	Pharmaceutical Product Development, Inc.		363
	24	Schering-Plough Corp.		407
	7	Waters Corp. (D)		246
	23	Watson Pharmaceuticals, Inc. (D)		614

				9,118

		Retailing — 3.7%
	11	Amazon.com, Inc. (D)		539
	3	AutoZone, Inc. (D)		418
	16	Big Lots, Inc. (D)		225
	21	Gap, Inc.		285
	11	Kohl’s Corp. (D)		387
	26	Limited Brands, Inc.		263
	17	Target Corp.		573
	12	TJX Cos., Inc.		243
	25	Urban Outfitters, Inc. (D)		373

				3,306

The accompanying notes are an integral part of these financial statements.

119

Hartford LargeCap Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)

COMMON STOCK — (continued)
		Semiconductors & Semiconductor Equipment — 3.3%
	23	Altera Corp.			$	391
	36	Applied Materials, Inc.				368
	111	Intel Corp.				1,627
	34	Texas Instruments, Inc.				526

						2,912

		Software & Services — 14.5%
	11	Accenture Ltd. Class A				367
	15	Adobe Systems, Inc. (D)				315
	17	Autodesk, Inc. (D)				340
	12	Automatic Data Processing, Inc.				453
	21	Cognizant Technology Solutions Corp. (D)				383
	38	eBay, Inc. (D)				534
	6	Google, Inc. (D)				1,897
	22	Intuit, Inc. (D)				523
	4	MasterCard, Inc.				501
	190	Microsoft Corp.				3,703
	89	Oracle Corp. (D)				1,582
	20	Paychex, Inc.				520
	26	Red Hat, Inc. (D)				337
	8	Sohu.com, Inc. (D)				384
	7	Visa, Inc.				341
	31	Western Union Co.				451
	26	Yahoo!, Inc. (D)				322

						12,953

		Technology Hardware & Equipment — 13.8%
	14	Agilent Technologies, Inc. (D)				223
	21	Apple, Inc. (D)				1,754
	145	Cisco Systems, Inc. (D)				2,362
	40	Corning, Inc.				380
	47	Dell, Inc. (D)				478
	28	EMC Corp. (D)				294
	10	FLIR Systems, Inc. (D)				307
	56	Hewlett-Packard Co.				2,045
	29	International Business Machines Corp.				2,430
	29	Juniper Networks, Inc. (D)				503
	43	Qualcomm, Inc.				1,535

						12,311

		Transportation — 2.6%
	8	Burlington Northern Santa Fe Corp.				575
	10	CSX Corp.				338
	6	Norfolk Southern Corp.				273
	11	Union Pacific Corp.				545
	11	United Parcel Service, Inc. Class B				579

						2,310

		Utilities — 0.5%
	50	AES Corp. (D)				409

		Total common stock (cost $109,665)			$	87,530

EXCHANGE TRADED FUNDS — 0.3%
		Other Investment Pools and Funds — 0.3%
	9	iShares Russell 1000			$	315

		Total exchange traded funds (cost $391)			$	315

		Total long-term investments (cost $110,056)			$	87,845


Principal					Market
Amount					Value (W)

SHORT-TERM INVESTMENTS — 1.4%
		Repurchase Agreements — 1.3%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $649, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $656)
$	649	0.01% dated 12/31/2008			$	649
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $431, collateralized by U.S. Treasury Note 3.13%, 2013, value of $438)
	431	0.03% dated 12/31/2008				431
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $100, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $100)
	100	0.02% dated 12/31/2008				100

						1,180

		U.S. Treasury Bills — 0.1%
	60	0.01%, 01/15/2009 (M)(S)				60

		Total short-term investments (cost $1,240)			$	1,240

		Total investments (cost $111,296) (C)	99.7	%	$	89,085
		Other assets and liabilities	0.3	%		272

		Total net assets	100.0	%	$	89,357


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 0.43% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $111,944 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	401
Unrealized Depreciation		(23,260	)

Net Unrealized Depreciation	$	(22,859	)


(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

90 Day Euro Futures

Long

Mar 2009


		* The number of contracts does not omit 000’s.

		Cash of $62 was pledged as initial margin deposit for open futures contracts at December 31, 2008.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

120

Hartford MidCap HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 96.3%
		Automobiles & Components — 0.4%
	301	BorgWarner, Inc.	$	6,555
		Banks — 1.2%
	373	M&T Bank Corp.		21,398
		Capital Goods — 6.9%
	256	Alliant Techsystems, Inc. (D)		21,989
	594	AMETEK, Inc.		17,948
	686	Kennametal, Inc.		15,214
	789	Lennox International, Inc.		25,483
	851	PACCAR, Inc.		24,327
	232	Precision Castparts Corp.		13,823

				118,784

		Commercial & Professional Services — 7.1%
	239	Dun & Bradstreet Corp.		18,474
	1,293	Equifax, Inc. (D)		34,298
	413	Manpower, Inc.		14,032
	1,894	Republic Services, Inc.		46,959
	382	Robert Half International, Inc.		7,949

				121,712

		Consumer Durables & Apparel — 1.4%
	609	Mattel, Inc.		9,746
	33	NVR, Inc. (D)		15,147

				24,893

		Consumer Services — 4.6%
	136	Apollo Group, Inc. Class A (D)		10,428
	402	DeVry, Inc.		23,102
	246	ITT Educational Services, Inc. (D)		23,394
	850	Scientific Games Corp. Class A (D)		14,906
	35	Strayer Education, Inc.		7,569

				79,399

		Diversified Financials — 1.7%
	67	Blackrock, Inc.		8,934
	475	SLM Corp. (D)		4,226
	402	State Street Corp.		15,795

				28,955

		Energy — 4.0%
	644	Forest Oil Corp. (D)		10,611
	449	Noble Energy, Inc.		22,095
	627	Smith International, Inc.		14,361
	446	St. Mary Land & Exploration Co.		9,063
	376	Ultra Petroleum Corp. (D)		12,972

				69,102

		Finance — 0.5%
	130	Arch Capital Group Ltd. (D)		9,130
		Food & Staples Retailing — 1.7%
	215	BJ’s Wholesale Club, Inc. (D)		7,359
	152	Kroger Co.		4,020
	1,222	Supervalu, Inc.		17,844

				29,223

		Health Care Equipment & Services — 9.8%
	744	Beckman Coulter, Inc.		32,669
	182	Cerner Corp. (D)		6,983
	1,384	Community Health Systems, Inc. (D)		20,180
	632	Humana, Inc. (D)		23,572
	517	Omnicare, Inc.		14,363
	1,178	Patterson Cos., Inc. (D)		22,089
	667	St. Jude Medical, Inc. (D)		21,981
	408	Universal Health Services, Inc. Class B		15,336
	348	Varian Medical Systems, Inc. (D)		12,184

				169,357

		Household & Personal Products — 1.7%
	510	Clorox Co.		28,358
		Insurance — 8.0%
	396	AON Corp.		18,103
	223	Axis Capital Holdings Ltd.		6,491
	293	Everest Re Group Ltd.		22,302
	399	Fidelity National Financial, Inc.		7,079
	143	First American Financial Corp.		4,128
	868	Marsh & McLennan Cos., Inc.		21,055
	65	PartnerRe Ltd.		4,647
	1,102	Unum Group		20,499
	832	W.R. Berkley Corp.		25,787
	28	White Mountains Insurance Group Ltd.		7,452

				137,543

		Materials — 3.9%
	645	Ball Corp.		26,805
	342	FMC Corp.		15,311
	301	Nucor Corp.		13,893
	720	Sealed Air Corp.		10,752

				66,761

		Media — 2.4%
	1,213	DreamWorks Animation SKG, Inc. (D)		30,628
	455	Scripps Networks Interactive Class A		10,005

				40,633

		Pharmaceuticals, Biotechnology & Life Sciences — 6.0%
	1,132	Amylin Pharmaceuticals, Inc. (D)		12,285
	89	Cephalon, Inc. (D)		6,885
	1,026	Life Technologies Corp. (D)		23,918
	247	Onyx Pharmaceuticals, Inc. (D)		8,434
	459	Perrigo Co.		14,837
	384	Pharmaceutical Product Development, Inc.		11,140
	494	Regeneron Pharmaceuticals, Inc. (D)		9,061
	523	Vertex Pharmaceuticals, Inc. (D)		15,892

				102,452

		Real Estate — 0.6%
	583	Kimco Realty Corp.		10,655
		Retailing — 8.1%
	516	Advance Automotive Parts, Inc.		17,346
	140	AutoZone, Inc. (D)		19,526
	883	Best Buy Co., Inc.		24,810
	499	Dick’s Sporting Goods, Inc. (D)		7,034
	953	O’Reilly Automotive, Inc. (D)		29,307
	284	Sherwin-Williams Co.		16,969
	867	Staples, Inc.		15,544
	399	Tiffany & Co.		9,424

				139,960

		Semiconductors & Semiconductor Equipment — 2.6%
	1,224	Altera Corp.		20,460
	1,141	Lam Research Corp. (D)		24,272

				44,732

The accompanying notes are an integral part of these financial statements.

121

Hartford MidCap HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)

COMMON STOCK — (continued)
		Software & Services — 9.2%
	412	BMC Software, Inc. (D)			$	11,087
	1,051	Electronic Arts, Inc. (D)				16,864
	397	Factset Research Systems, Inc.				17,581
	766	Global Payments, Inc.				25,130
	355	McAfee, Inc. (D)				12,265
	560	Micros Systems (D)				9,141
	1,358	Red Hat, Inc. (D)				17,957
	574	VeriSign, Inc. (D)				10,956
	2,615	Western Union Co.				37,505

						158,486

		Technology Hardware & Equipment — 5.3%
	728	Diebold, Inc.				20,455
	254	FLIR Systems, Inc. (D)				7,782
	132	Itron, Inc. (D)				8,414
	1,405	NCR Corp. (D)				19,864
	1,652	NetApp, Inc. (D)				23,081
	800	Teradata Corp. (D)				11,862

						91,458

		Telecommunication Services — 1.0%
	608	American Tower Corp. Class A (D)				17,815
		Transportation — 2.5%
	260	Continental Airlines, Inc. (D)				4,699
	671	J.B. Hunt Transport Services, Inc.				17,625
	456	Kansas City Southern (D)				8,681
	321	Landstar System, Inc.				12,324

						43,329

		Utilities — 5.7%
	1,351	DPL, Inc.				30,859
	1,392	Northeast Utilities				33,492
	1,362	UGI Corp.				33,270

						97,621

		Total common stock (cost $2,103,896)			$	1,658,311


Principal
Amount

SHORT-TERM INVESTMENTS — 3.7%
		Repurchase Agreements — 3.7%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $48, collateralized by U.S. Treasury Note 4.50%, 2009, value of $49)
$	48	0.03% dated 12/31/2008			$	48
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $20,946, collateralized by FNMA 5.00%, 2035 — 2038, value of $21,365)
	20,946	0.08% dated 12/31/2008				20,946
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $921, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $939)
	921	0.07% dated 12/31/2008				921
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $20,255, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $20,660)
	20,255	0.10% dated 12/31/2008				20,255
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $18,644, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $19,017)
	18,644	0.05% dated 12/31/2008				18,644
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,532, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $2,583)
	2,532	0.07% dated 12/31/2008				2,532

		Total short-term investments (cost $63,346)			$	63,346

		Total investments (cost $2,167,242) (C)	100.0	%	$	1,721,657
		Other assets and liabilities	0.0	%		412

		Total net assets	100.0	%	$	1,722,069


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $2,171,330 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	44,388
Unrealized Depreciation		(494,061	)

Net Unrealized Depreciation	$	(449,673	)


(D)		Currently non-income producing.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

122

Hartford MidCap Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 97.9%
		Capital Goods — 12.4%
	5	Aecom Technology Corp. (D)	$	144
	5	AMETEK, Inc.		163
	5	Cooper Industries Ltd.		158
	5	Cummins, Inc.		142
	4	Donaldson Co., Inc.		138
	8	Dover Corp.		250
	4	Fastenal Co.		122
	11	Fluor Corp.		490
	15	Foster Wheeler Ltd. (D)		353
	5	Goodrich Corp.		192
	5	Hubbell, Inc. Class B		157
	8	IDEX Corp.		183
	4	ITT Corp.		198
	8	Jacobs Engineering Group, Inc. (D)		397
	12	Joy Global, Inc.		278
	4	L-3 Communications Holdings, Inc.		269
	32	McDermott International, Inc. (D)		311
	5	MSC Industrial Direct Co., Inc.		188
	6	Parker-Hannifin Corp.		264
	6	Precision Castparts Corp.		372
	8	Quanta Services, Inc. (D)		148
	5	Rockwell Collins, Inc.		176
	11	Shaw Group, Inc. (D)		217
	11	Textron, Inc.		156
	4	URS Corp. (D)		167
	3	W.W. Grainger, Inc.		229

				5,862

		Commercial & Professional Services — 3.0%
	3	Dun & Bradstreet Corp.		248
	3	FTI Consulting, Inc. (D)		136
	9	Iron Mountain, Inc. (D)		215
	9	Pitney Bowes, Inc.		240
	9	Republic Services, Inc.		223
	7	Robert Half International, Inc.		137
	4	Stericycle, Inc. (D)		232

				1,431

		Consumer Durables & Apparel — 2.1%
	20	Coach, Inc. (D)		409
	5	Hasbro, Inc.		143
	4	Polo Ralph Lauren Corp.		184
	25	Pulte Homes, Inc.		277

				1,013

		Consumer Services — 7.3%
	7	Apollo Group, Inc. Class A (D)		560
	4	DeVry, Inc.		204
	17	H & R Block, Inc.		391
	12	International Game Technology		148
	3	ITT Educational Services, Inc. (D)		238
	12	Marriott International, Inc. Class A		235
	3	Panera Bread Co. Class A (D)		136
	38	Starbucks Corp. (D)		362
	1	Strayer Education, Inc.		257
	8	Tim Hortons, Inc.		234
	22	Yum! Brands, Inc.		690

				3,455

		Diversified Financials — 5.2%
	11	Eaton Vance Corp.		223
	9	Federated Investors, Inc.		144
	4	IntercontinentalExchange, Inc. (D)		293
	6	Lazard, Ltd.		184
	10	Nasdaq Stock Market, Inc. (D)		235
	11	Northern Trust Corp.		556
	13	SEI Investments Co.		196
	14	T. Rowe Price Group, Inc.		485
	10	TD Ameritrade Holding Corp. (D)		142

				2,458

		Energy — 8.2%
	18	Arch Coal, Inc.		291
	13	Cameron International Corp. (D)		265
	8	Consol Energy, Inc.		217
	15	Denbury Resources, Inc. (D)		166
	2	Diamond Offshore Drilling, Inc.		106
	7	ENSCO International, Inc.		203
	5	FMC Technologies, Inc. (D)		123
	24	Helix Energy Solutions Group, Inc. (D)		175
	4	IHS, Inc. (D)		135
	14	Massey Energy Co.		200
	7	Murphy Oil Corp.		326
	11	Noble Corp.		237
	13	Petrohawk Energy Corp. (D)		197
	8	Pride International, Inc. (D)		134
	6	Range Resources Corp.		202
	7	Smith International, Inc.		164
	13	Southwestern Energy Co. (D)		374
	3	Sunoco, Inc.		143
	13	W&T Offshore, Inc.		186

				3,844

		Food, Beverage & Tobacco — 3.3%
	3	Brown-Forman Corp.		144
	6	Campbell Soup Co.		174
	10	Dean Foods Co. (D)		178
	11	H.J. Heinz Co.		397
	4	Hansen National Corp. (D)		144
	7	Hershey Co.		226
	5	Lorillard, Inc.		284

				1,547

		Health Care Equipment & Services — 8.0%
	5	Bard (C.R.), Inc.		404
	3	DaVita, Inc. (D)		134
	8	Dentsply International, Inc.		215
	12	Express Scripts, Inc. (D)		633
	7	Henry Schein, Inc. (D)		239
	6	Hill-Rom Holdings, Inc.		99
	7	Humana, Inc. (D)		261
	1	Intuitive Surgical, Inc. (D)		190
	6	Laboratory Corp. of America Holdings (D)		415
	7	Quest Diagnostics, Inc.		348
	17	St. Jude Medical, Inc. (D)		554
	8	Varian Medical Systems, Inc. (D)		280

				3,772

		Household & Personal Products — 2.2%
	22	Avon Products, Inc.		525
	2	Church & Dwight Co., Inc.		136
	4	Energizer Holdings, Inc. (D)		203
	6	Estee Lauder Co., Inc.		186

				1,050

The accompanying notes are an integral part of these financial statements.

123

Hartford MidCap Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)
		Insurance — 0.3%
	6	Brown & Brown, Inc.	$	125
		Materials — 4.8%
	41	AK Steel Holding Corp.		386
	14	Celanese Corp.		179
	41	Century Aluminum Co. (D)		411
	6	CF Industries Holdings, Inc.		275
	13	Cliff’s Natural Resources, Inc.		336
	5	Ecolab, Inc.		162
	6	Rohm & Haas Co.		358
	10	Terra Industries, Inc.		171

				2,278

		Media — 2.0%
	6	DreamWorks Animation SKG, Inc. (D)		162
	34	Interpublic Group of Cos., Inc. (D)		134
	18	Liberty Media Corp. — Entertainment (D)		320
	9	McGraw-Hill Cos., Inc.		199
	4	Morningstar, Inc. (D)		144

				959

		Pharmaceuticals, Biotechnology & Life Sciences — 4.5%
	13	Allergan, Inc.		527
	2	Cephalon, Inc. (D)		183
	6	Forest Laboratories, Inc. (D)		141
	7	Life Technologies Corp. (D)		169
	3	Millipore Corp. (D)		149
	12	Pharmaceutical Product Development, Inc.		334
	8	Vertex Pharmaceuticals, Inc. (D)		231
	5	Waters Corp. (D)		191
	7	Watson Pharmaceuticals, Inc. (D)		173

				2,098

		Real Estate — 0.5%
	7	Plum Creek Timber Co., Inc.		240
		Retailing — 6.3%
	2	AutoZone, Inc. (D)		317
	8	Bed Bath & Beyond, Inc. (D)		203
	5	Dollar Tree, Inc. (D)		188
	18	Gap, Inc.		246
	14	Kohl’s Corp. (D)		507
	19	Limited Brands, Inc.		186
	4	Priceline.com, Inc. (D)		309
	7	Ross Stores, Inc.		208
	5	Sherwin-Williams Co.		296
	16	TJX Cos., Inc.		327
	11	Urban Outfitters, Inc. (D)		166

				2,953

		Semiconductors & Semiconductor Equipment — 6.0%
	18	Altera Corp.		296
	22	Analog Devices, Inc.		424
	32	Broadcom Corp. Class A (D)		546
	26	Integrated Device Technology, Inc. (D)		145
	12	KLA-Tencor Corp.		259
	46	Marvell Technology Group Ltd. (D)		307
	24	National Semiconductor Corp.		241
	38	NVIDIA Corp. (D)		304
	16	Xilinx, Inc.		285

				2,807

		Software & Services — 8.6%
	33	Activision Blizzard, Inc. (D)		284
	23	Autodesk, Inc. (D)		448
	7	BMC Software, Inc. (D)		186
	7	Citrix Systems, Inc. (D)		167
	8	Cognizant Technology Solutions Corp. (D)		135
	15	Electronic Arts, Inc. (D)		241
	3	Factset Research Systems, Inc.		133
	6	Fiserv, Inc. (D)		231
	5	Global Payments, Inc.		151
	10	Intuit, Inc. (D)		245
	4	McAfee, Inc. (D)		142
	44	Novell, Inc. (D)		172
	21	Paychex, Inc.		552
	20	Red Hat, Inc. (D)		262
	9	Salesforce.com, Inc. (D)		284
	4	Sohu.com, Inc. (D)		189
	11	VeriSign, Inc. (D)		215

				4,037

		Technology Hardware & Equipment — 5.5%
	13	Agilent Technologies, Inc. (D)		207
	21	AVX Corp.		165
	69	Brocade Communications Systems, Inc. (D)		193
	32	Ciena Corp. (D)		213
	5	Dolby Laboratories, Inc. Class A (D)		154
	4	Harris Corp.		133
	28	Juniper Networks, Inc. (D)		487
	25	NetApp, Inc. (D)		347
	45	Seagate Technology		201
	12	Trimble Navigation Ltd. (D)		259
	22	Western Digital Corp. (D)		256

				2,615

		Telecommunication Services — 2.8%
	17	American Tower Corp. Class A (D)		512
	8	MetroPCS Communications, Inc. (D)		122
	29	SBA Communications Corp. (D)		469
	4	Telephone and Data Systems, Inc.		115
	13	Windstream Corp.		121

				1,339

		Transportation — 1.8%
	7	C.H. Robinson Worldwide, Inc.		403
	9	Expeditors International of Washington, Inc.		286
	5	J.B. Hunt Transport Services, Inc.		139

				828

		Utilities — 3.1%
	19	AES Corp. (D)		156
	5	Allegheny Energy, Inc.		152
	7	Constellation Energy Group, Inc.		169
	7	Mirant Corp. (D)		126
	12	NRG Energy, Inc. (D)		271
	11	PPL Corp.		344

The accompanying notes are an integral part of these financial statements.

124


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Utilities — (continued)
	7	Questar Corp.			$	227

						1,445

		Total common stock (cost $58,276)			$	46,156


EXCHANGE TRADED FUNDS — 0.3%
		Other Investment Pools and Funds — 0.3%
	5	iShares Russell Midcap Growth			$	156

		Total exchange traded funds (cost $143)			$	156

		Total long-term investments (cost $58,419)			$	46,312


Principal
Amount

SHORT-TERM INVESTMENTS — 2.0%
		Repurchase Agreements — 1.8%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $457, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $461)
$	457	0.01% dated 12/31/2008			$	457
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $303, collateralized by U.S. Treasury Note 3.13%, 2013, value of $308)
	303	0.03% dated 12/31/2008				303
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $70, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $70)
	70	0.02% dated 12/31/2008				70

						830

		U.S. Treasury Bills — 0.2%
	45	0.07%, 01/15/2009 (M)(S)				45
	45	0.17%, 04/29/2009 (M)(S)				45

						90

		Total short-term investments (cost $920)			$	920

		Total investments (cost $59,339) (C)	100.2	%	$	47,232
		Other assets and liabilities	(0.2	)%		(83	)

		Total net assets	100.0	%	$	47,149


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 0.40% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $63,535 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	1,241
Unrealized Depreciation		(17,544	)

Net Unrealized Depreciation	$	(16,303	)


(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

S&P Mid 400 Mini

Long

Mar 2009


		* The number of contracts does not omit 000’s.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

125

Hartford MidCap Value HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 99.1%
		Automobiles & Components — 0.4%
	515	TRW Automotive Holdings Corp. (D)	$	1,855
		Banks — 3.1%
	40	Beneficial Mutual Bancorp, Inc. (D)		451
	124	Comerica, Inc.		2,460
	20	Huntington Bancshares, Inc.		151
	61	M&T Bank Corp.		3,502
	823	Popular, Inc.		4,247
	5	Signature Bank (D)		129
	847	Sovereign Bancorp, Inc.		2,523

				13,463

		Capital Goods — 5.7%
	33	AGCO Corp. (D)		767
	103	Alliant Techsystems, Inc. (D)		8,868
	92	Dover Corp.		3,042
	248	Pentair, Inc.		5,877
	141	URS Corp. (D)		5,732

				24,286

		Commercial & Professional Services — 1.1%
	56	Copart, Inc. (D)		1,512
	240	R.R. Donnelley & Sons Co.		3,258

				4,770

		Consumer Durables & Apparel — 5.6%
	330	MDC Holdings, Inc.		9,984
	335	Newell Rubbermaid, Inc.		3,275
	214	Toll Brothers, Inc. (D)		4,578
	112	V.F. Corp.		6,123

				23,960

		Diversified Financials — 7.2%
	86	Affiliated Managers Group, Inc. (D)		3,597
	252	Ameriprise Financial, Inc.		5,885
	719	CIT Group, Inc.		3,264
	250	Invesco Ltd.		3,610
	769	PHH Corp. (D)		9,788
	340	TD Ameritrade Holding Corp. (D)		4,842

				30,986

		Energy — 3.4%
	229	Cie Gen Geophysique ADR (D)		3,434
	276	Newfield Exploration Co. (D)		5,441
	57	Noble Energy, Inc.		2,820
	123	SBM Offshore N.V.		1,627
	838	Uranium One, Inc. (D)		1,233

				14,555

		Food, Beverage & Tobacco — 5.9%
	5,840	Chaoda Modern Agriculture		3,753
	46	Cosan Ltd. (D)		158
	344	Dean Foods Co. (D)		6,187
	9,106	First Pacific Co., Ltd.		3,179
	476	Marfig Frigorificos E Comer (D)		1,542
	12,139	Marine Harvest (D)		1,872
	136	Perdigao S.A.		1,746
	487	Smithfield Foods, Inc. (D)		6,851

				25,288

		Health Care Equipment & Services — 6.5%
	145	Amerisource Bergen Corp.		5,171
	277	CIGNA Corp.		4,663
	153	Humana, Inc. (D)		5,700
	82	Laboratory Corp. of America Holdings (D)		5,307
	192	West Pharmaceutical Services		7,263

				28,104

		Insurance — 11.2%
	116	Everest Re Group Ltd.		8,863
	194	Fidelity National Financial, Inc.		3,436
	102	First American Financial Corp.		2,956
	66	PartnerRe Ltd.		4,668
	247	Platinum Underwriters Holdings Ltd.		8,897
	260	Reinsurance Group of America, Inc.		11,130
	448	Unum Group		8,325

				48,275

		Materials — 8.6%
	93	Agrium U.S., Inc.		3,174
	304	Celanese Corp.		3,777
	103	Cliff’s Natural Resources, Inc.		2,645
	210	FMC Corp.		9,380
	154	Greif, Inc.		5,142
	47	JSR Corp.		532
	204	Owens-Illinois, Inc. (D)		5,570
	272	Pactiv Corp. (D)		6,770

				36,990

		Media — 1.0%
	878	Virgin Media, Inc.		4,383
		Pharmaceuticals, Biotechnology & Life Sciences — 4.0%
	104	Endo Pharmaceuticals Holdings, Inc. (D)		2,699
	1,174	Impax Laboratories, Inc. (A)(D)(H)		9,395
	401	Theravance, Inc. (D)		4,970

				17,064

		Real Estate — 3.5%
	617	Annaly Capital Management, Inc.		9,792
	290	Kimco Realty Corp.		5,299

				15,091

		Retailing — 4.0%
	461	American Eagle Outfitters, Inc.		4,318
	5,788	Buck Holdings L.P. (A)(D)(H)		5,574
	106	Genuine Parts Co.		4,017
	160	TJX Cos., Inc.		3,291

				17,200

		Semiconductors & Semiconductor Equipment — 2.5%
	518	Teradyne, Inc. (D)		2,187
	476	Varian Semiconductor Equipment Associates, Inc. (D)		8,620

				10,807

		Software & Services — 4.4%
	213	CACI International, Inc. Class A (D)		9,604
	263	McAfee, Inc. (D)		9,103

				18,707

		Technology Hardware & Equipment — 6.2%
	472	Arrow Electronics, Inc. (D)		8,883
	1,184	Flextronics International Ltd. (D)		3,032
	497	JDS Uniphase Corp. (D)		1,815
	11,720	Kingboard Laminates Holdings		2,744
	230	NetApp, Inc. (D)		3,208
	419	Seagate Technology		1,857

The accompanying notes are an integral part of these financial statements.

126


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Technology Hardware & Equipment — (continued)
	452	Solar Cayman Ltd. (A)(D)(H)			$	5,295

						26,834

		Transportation — 5.4%
	155	Con-way, Inc.				4,131
	1,670	Delta Air Lines, Inc. (D)				19,137

						23,268

		Utilities — 9.4%
	876	N.V. Energy, Inc.				8,667
	460	Northeast Utilities				11,070
	264	TECO Energy, Inc.				3,265
	337	UGI Corp.				8,225
	218	Wisconsin Energy Corp.				9,160

						40,387

		Total common stock (cost $586,169)			$	426,273


Principal
Amount

SHORT-TERM INVESTMENTS — 0.9%
		Repurchase Agreements — 0.9%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3, collateralized by U.S. Treasury Note 4.50%, 2009, value of $3)
$	3	0.03% dated 12/31/2008			$	3
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,324, collateralized by FNMA 5.00%, 2035 — 2038, value of $1,350)
	1,324	0.08% dated 12/31/2008				1,324
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $58, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $59)
	58	0.07% dated 12/31/2008				58
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,280, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $1,306)
	1,280	0.10% dated 12/31/2008				1,280
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,178, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $1,202)
	1,178	0.05% dated 12/31/2008				1,178
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $160, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $163)
	160	0.07% dated 12/31/2008				160

		Total short-term investments (cost $4,003)			$	4,003

		Total investments (cost $590,172) (C)	100.0	%	$	430,276
		Other assets and liabilities	0.0	%		103

		Total net assets	100.0	%	$	430,379


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 5.81% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $601,160 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	911
Unrealized Depreciation		(171,795	)

Net Unrealized Depreciation	$	(170,884	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $20,264, which represents 4.71% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period				Cost
Acquired	Shares		Security	Basis
06/2007		5,788	Buck Holdings L.P.	$	5,794
03/2005 – 01/2007		1,174	Impax Laboratories, Inc.		13,258
03/2007		452	Solar Cayman Ltd. - 144A		6,779


		The aggregate value of these securities at December 31, 2008 was $20,264 which represents 4.71% of total net assets.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

127

Hartford Money Market HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)
		Basic Materials — 3.0%
		Export Development Canada
$	4,250	0.25%, 03/10/2009	$	4,248
	19,750	0.55%, 03/05/2009		19,731
	29,000	1.12%, 05/07/2009		28,886
	25,750	1.69%, 03/12/2009		25,666
		Praxair, Inc.
	25,750	0.65%, 04/01/2009		25,708
	28,250	0.70%, 04/03/2009		28,200
	24,750	0.80%, 03/09/2009		24,713

				157,152

		Consumer Cyclical — 0.8%
		Wal-Mart Stores, Inc.
	42,750	0.22%, 03/03/2009		42,734
		Consumer Staples — 3.1%
		Coca Cola Co.
	9,000	0.05%, 01/05/2009		9,000
	51,500	1.30%, 01/13/2009		51,478
		Colgate-Palmolive Co.
	20,624	0.15%, 02/06/2009		20,621
		Procter & Gamble Co.
	25,500	0.25%, 01/22/2009 (I)		25,496
	20,250	0.30%, 03/30/2009 (I)		20,235
	32,500	1.10%, 01/23/2009 (I)		32,478

				159,308

		Energy — 1.4%
		ConocoPhillips
	21,250	1.25%, 01/30/2009		21,242
	15,250	1.75%, 01/16/2009 (I)		15,239
	25,750	1.85%, 01/15/2009 (I)		25,731
	13,000	1.95%, 01/06/2009 (I)		12,997

				75,209

		Finance — 47.8%
		American Honda Finance Corp.
	25,750	2.00%, 09/18/2009 (I)(L)		25,750
	27,250	4.18%, 04/02/2009 (I)(L)		27,250
		Australia & New Zealand Banking Group Ltd.
	26,250	3.21%, 10/02/2009 (I)(BB)(?)		26,250
		Bank of America Corp.
	21,500	1.55%, 01/15/2009		21,487
		Bank of Nova Scotia
	25,250	4.57%, 08/10/2009 (I)(L)		25,250
		BNP Paribas
	23,500	1.11%, 02/17/2009		23,466
		BNP Paribas NY Branch
	28,750	2.01%, 01/26/2009		28,750
		Caterpillar Financial Services Corp.
	35,000	2.15%, 05/15/2009 (L)		34,991
		Citigroup Funding, Inc.
	52,250	0.23%, 03/06/2009		52,229
	53,250	0.25%, 02/04/2009		53,237
		Danske Corp.
	24,000	3.03%, 03/03/2009		23,878
		European Investment Bank
	77,250	0.47%, 03/12/2009		77,179
	34,500	1.53%, 02/17/2009		34,432
	45,000	1.67%, 03/03/2009		44,901
		Federal Home Loan Bank
	25,750	0.07%, 01/12/2009		25,750
	52,250	0.10%, 02/04/2009		52,245
	52,250	0.14%, 03/10/2009		52,236
	18,000	0.15%, 02/10/2009 — 02/27/2009		17,996
	45,450	0.20%, 04/13/2009 — 04/14/2009		45,424
	52,250	0.21%, 03/20/2009		52,226
	25,750	0.75%, 02/17/2009		25,725
	22,900	2.01%, 05/20/2009 (L)		22,898
	51,120	2.78%, 01/05/2009		51,111
	21,250	3.66%, 01/23/2009 (L)		21,251
		Federal Home Loan Mortgage Corp.
	40,250	0.05%, 02/02/2009		40,248
	21,200	0.10%, 01/05/2009 — 01/07/2009		21,200
	31,750	0.20%, 04/17/2009		31,731
	52,250	0.25%, 03/16/2009		52,223
	51,250	0.55%, 02/09/2009		51,219
	28,500	0.71%, 02/04/2009 (M)		28,481
	34,000	1.78%, 04/07/2009 (L)		34,000
	29,000	2.36%, 02/24/2009 (M)		28,901
	44,750	2.64%, 01/09/2009		44,724
	35,640	5.72%, 03/15/2009		35,844
		Federal National Mortgage Association
	52,250	0.10%, 02/02/2009 (M)		52,245
	64,250	0.15%, 03/05/2009 — 03/18/2009		64,230
	77,000	0.15%, 02/23/2009 (M)		76,983
	17,500	0.20%, 03/11/2009		17,493
	40,250	0.61%, 01/20/2009 (M)		40,237
	55,600	0.80%, 02/17/2009		55,543
	37,600	2.22%, 01/05/2009 (M)		37,591
	22,000	2.77%, 02/11/2009		21,931
		General Electric Capital Corp.
	51,350	0.25%, 03/30/2009		51,319
	19,400	0.50%, 06/24/2009 (L)(BB)		19,400
		J.P. Morgan Chase Funding Corp.
	25,750	0.10%, 01/20/2009 (I)		25,749
		John Deere Capital Corp.
	22,300	2.24%, 09/01/2009 (L)		22,288
		JP Morgan Chase & Co.
	26,500	1.50%, 01/26/2009		26,473
	26,250	2.73%, 01/05/2009		26,242
		Kreditanstalt fuer Wiederaufbau
	22,500	0.15%, 02/17/2009 (I)		22,496
	52,250	0.48%, 02/10/2009		52,223
	31,250	0.80%, 01/21/2009 (I)		31,236
	49,750	0.94%, 01/20/2009 (I)		49,743
		Nordea Bank Finland NY
	24,500	1.86%, 04/09/2009 (L)		24,470
		Nordea North America
	29,000	2.87%, 01/12/2009		28,975
		Queensland Treasury Corp.
	28,000	0.86%, 03/16/2009		27,952
	38,700	1.08%, 01/28/2009		38,670
	38,700	1.33%, 02/27/2009		38,620
		Rabobank USA
	29,000	0.45%, 02/19/2009		28,982
	25,800	1.24%, 01/20/2009		25,783
		Royal Bank of Canada
	21,250	1.60%, 10/15/2009 (I)(L)		21,250
		Royal Bank of Canada NY
	31,500	0.34%, 02/17/2009		31,500
		Royal Bank of Scotland Group plc
	25,750	2.40%, 10/09/2009 (I)(L)(BB)		25,750
		State Street Corp.
	51,500	0.45%, 01/08/2009		51,495
		Svenska Handelsbanken Ab
	15,400	4.42%, 05/06/2009 (I)(L)(BB)		15,400
		Toronto-Dominion Bank NY
	25,750	1.80%, 01/20/2009		25,750
		Toronto-Dominion Holdings
	26,500	0.20%, 01/16/2009		26,498

The accompanying notes are an integral part of these financial statements.

128


Principal					Market
Amount					Value (W)

		Finance — (continued)
		Toyota Motor Credit Corp.
$	38,000	2.76%, 01/30/2009			$	37,916
		Wachovia Bank NA
	34,000	4.61%, 08/04/2009 (L)(BB)				34,000
		Wells Fargo & Co.
	22,000	1.03%, 06/18/2009 (L)				22,000
		Westpac Banking Corp.
	26,500	1.02%, 03/17/2009 (I)				26,444
	25,750	3.07%, 01/28/2009 (L)				25,750

						2,485,110

		Foreign Governments — 5.0%
		British Columbia (Province Of)
	22,250	0.20%, 03/18/2009				22,240
	27,300	1.15%, 03/02/2009				27,248
	21,500	1.30%, 02/23/2009				21,459
	31,400	1.51%, 05/26/2009 — 05/27/2009				31,210
		Ontario (Province of)
	28,750	1.28%, 02/02/2009				28,717
	25,800	1.34%, 01/26/2009				25,776
	25,800	1.49%, 02/24/2009				25,742
		Quebec (Province of)
	41,000	1.09%, 01/16/2009 — 02/02/2009				40,971
	38,500	1.19%, 03/02/2009				38,424

						261,787



Shares

		Investment Pools and Funds — 5.2%
		JP Morgan U.S. Government Money
	104,000	Market Fund				104,000
		State Street Bank U.S. Government
	60,000	Money Market Fund				60,000
		Wells Fargo Advantage Government
	104,000	Money Market Fund				104,000

						268,000



Principal
Amount

		Repurchase Agreements — 6.0%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $171,248, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $172,939)
$	171,248	0.01% dated 12/31/2008				171,248
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $113,522, collateralized by U.S. Treasury Note 3.13%, 2013, value of $115,451)
	113,522	0.03% dated 12/31/2008				113,522
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $26,400, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $26,425)
	26,400	0.02% dated 12/31/2008				26,400

						311,170

		Services — 1.0%
		Walt Disney Co.
	38,000	0.35%, 03/10/2009				37,975
	13,750	1.10%, 01/07/2009				13,747

						51,722

		Technology — 3.0%
		AT&T, Inc.
	22,250	1.00%, 02/04/2009 (I)				22,229
	25,750	1.05%, 01/20/2009				25,744
	31,250	1.15%, 01/29/2009				31,222
		Microsoft Corp.
	25,750	0.15%, 02/19/2009				25,745
	53,000	0.25%, 01/05/2009				52,998

						157,938

		U.S. Treasury Bills — 22.3%
	171,000	0.15%, 04/29/2009 (M)				170,916
	258,000	0.31%, 02/05/2009 (M)				257,923
	300,000	0.36%, 02/12/2009 (M)				299,880
	172,000	0.41%, 03/05/2009 (M)				171,879
	258,000	0.43%, 01/22/2009 (M)				257,938

						1,158,536

		Utilities — 1.5%
		Florida Power & Light Co.
	78,750	0.25%, 01/09/2009				78,746
		Capital Support Agreement — 0.0%
	—	Hartford Life, Inc. Capital Support Agreement (BB)				—

		Total investments (cost $5,207,412) (C)	100.1	%	$	5,207,412
		Other assets and liabilities	(0.1	)%		(5,750	)

		Total net assets	100.0	%	$	5,201,662


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. The rates presented in this Schedule of Investments are yields, unless otherwise noted. Market value of investments in foreign securities represents 14.69% of total net assets at December 31, 2008.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		Also represents cost for tax purposes.

(BB)		The Fund has entered into a Capital Support Agreement with Hartford Life, Inc. which provides that Hartford Life, Inc. will contribute capital to the Fund, up to a specified maximum amount, in the event that the Fund realizes a loss on any of these securities and such realized loss causes the Fund’s net asset value as calculated using fair values to drop below $0.9950. See footnote 10 for additional information.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $476,973, which represents 9.17% of total net assets.

(L)		Variable rate securities; the yield reported is the rate in effect at December 31, 2008.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

129

Hartford Small Company HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 96.1%
		Automobiles & Components — 0.4%
	212	Exide Technologies (D)	$	1,124
	78	Fuel Systems Solutions, Inc. (D)		2,571

				3,695

		Banks — 0.6%
	11	International Bancshares Corp.		242
	123	Signature Bank (D)		3,540
	70	SVB Financial Group (D)		1,835

				5,617

		Capital Goods — 9.4%
	65	Aceto Corp.		650
	57	Acuity Brands, Inc.		1,973
	442	Aecom Technology Corp. (D)		13,577
	140	AMETEK, Inc.		4,242
	53	Applied Signal Technology		955
	84	Axsys Technologies, Inc. (D)		4,601
	131	Beacon Roofing Supply, Inc. (D)		1,814
	137	Chart Industries, Inc. (D)		1,456
	46	Clarcor, Inc.		1,514
	129	Cubic Corp.		3,510
	42	Curtis-Wright Corp.		1,390
	54	Dynamic Materials Corp.		1,043
	97	EMCOR Group, Inc. (D)		2,179
	43	Energy Conversion Devices, Inc. (D)		1,082
	38	ESCO Technologies, Inc. (D)		1,555
	65	Flowserve Corp.		3,332
	54	Gorman Rupp Co.		1,694
	214	GrafTech International Ltd. (D)		1,783
	98	Graham Corp.		1,057
	49	Heico Corp.		1,909
	82	II-VI, Inc. (D)		1,567
	147	Insteel Industries, Inc.		1,659
	161	MasTec, Inc. (D)		1,867
	52	Michael Baker Corp. (D)		1,934
	175	Mueller Water Products, Inc.		1,470
	14	NN, Inc.		31
	37	Nordson Corp.		1,208
	144	Orbital Sciences Corp. (D)		2,813
	90	Perini Corp. (D)		2,107
	55	Raven Industries		1,314
	61	Robbins & Myers, Inc.		985
	72	Sterling Construction Co., Inc. (D)		1,334
	65	Sun Hydraulics Corp.		1,231
	174	Teledyne Technologies, Inc. (D)		7,764
	26	Thermadyne Holdings Corp. (D)		176
	100	Titan Machinery, Inc. (D)		1,408
	55	TransDigm Group, Inc. (D)		1,854
	87	Trex Co., Inc. (D)		1,430
	77	Wabtec Corp.		3,064
	38	Watsco, Inc.		1,443
	96	WESCO International, Inc. (D)		1,840
	80	Woodward Governor Co.		1,842

				91,657

		Commercial & Professional Services — 7.0%
	49	Administaff, Inc.		1,061
	364	American Ecology Corp.		7,375
	113	CBIZ, Inc. (D)		977
	36	Clean Harbors, Inc. (D)		2,295
	57	CoStar Group, Inc. (D)		1,892
	377	Covanta Holding Corp. (D)		8,281
	60	Equifax, Inc. (D)		1,579
	69	Geo Group, Inc. (D)		1,238
	100	Herman Miller, Inc.		1,298
	72	HNI Corp.		1,135
	23	Huron Consulting Group, Inc. (D)		1,344
	222	Knoll, Inc.		2,006
	246	Mobile Mini, Inc. (D)		3,541
	13	Multi-Color Corp.		206
	76	Navigant Consulting, Inc. (D)		1,203
	233	PRG-Schultz International (D)		952
	86	Resources Connection, Inc. (D)		1,415
	94	Robert Half International, Inc.		1,967
	60	Rollins, Inc.		1,080
	46	Standard Register Co.		409
	195	Sykes Enterprises, Inc. (D)		3,723
	384	Tetra Tech, Inc. (D)		9,276
	119	TrueBlue, Inc. (D)		1,142
	346	Waste Connections, Inc. (D)		10,943
	34	Watson Wyatt Worldwide, Inc.		1,649

				67,987

		Consumer Durables & Apparel — 3.4%
	183	Asics Corp.		1,484
	24	Deckers Outdoor Corp. (D)		1,920
	593	Jarden Corp. (D)		6,816
	62	Polaris Industries, Inc.		1,769
	321	Pool Corp.		5,772
	184	Snap-On, Inc.		7,229
	180	True Religion Apparel, Inc. (D)		2,244
	85	Tupperware Brands Corp.		1,921
	43	Under Armour, Inc. Class A (D)		1,035
	62	Warnaco Group, Inc. (D)		1,226
	79	Wolverine World Wide, Inc.		1,661

				33,077

		Consumer Services — 3.0%
	56	American Public Education, Inc. (D)		2,073
	68	Bally Technologies, Inc. (D)		1,642
	280	Burger King Holdings, Inc.		6,675
	21	Capella Education Co. (D)		1,229
	183	Corinthian Colleges, Inc. (D)		2,988
	58	ITT Educational Services, Inc. (D)		5,535
	40	Matthews International Corp. Class A		1,452
	59	P. F. Chang’s China Bistro, Inc. (D)		1,238
	201	Royal Caribbean Cruises Ltd.		2,768
	27	Steiner Leisure Ltd. (D)		785
	229	Wendy’s/Arby’s Group, Inc.		1,131
	72	WMS Industries, Inc. (D)		1,927

				29,443

		Diversified Financials — 2.6%
	53	Ameriprise Financial, Inc.		1,243
	57	Cash America International, Inc.		1,570
	128	Ezcorp, Inc. (D)		1,945
	39	First Cash Financial Services, Inc. (D)		747
	20	Greenhill & Co., Inc.		1,395
	72	Interactive Brokers Group (D)		1,295
	107	Knight Capital Group, Inc. (D)		1,732
	799	Liberty Acquisition Holdings Corp. (D)		6,670
	24	Life Partners Holdings, Inc.		1,039
	164	Nasdaq Stock Market, Inc. (D)		4,042

The accompanying notes are an integral part of these financial statements.

130


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Diversified Financials — (continued)
	86	optionsXpress Holdings, Inc.	$	1,152
	70	Riskmetrics Group, Inc. (D)		1,045
	250	Thinkorswim Group, Inc. (D)		1,408

				25,283

		Energy — 5.8%
	220	Arena Resources, Inc. (D)		6,166
	139	ATP Oil & Gas Corp. (D)		815
	111	Basic Energy Services, Inc. (D)		1,450
	141	Bolt Technology Corp. (D)		978
	169	Cabot Oil & Gas Corp.		4,391
	55	Carbo Ceramics, Inc.		1,946
	37	Clayton Williams Energy, Inc. (D)		1,678
	78	Comstock Resources, Inc. (D)		3,666
	86	Concho Resources, Inc. (D)		1,964
	29	Contango Oil & Gas Co. (D)		1,607
	55	Dril-Quip, Inc. (D)		1,133
	46	Englobal Corp. (D)		148
	164	Exco Resources, Inc. (D)		1,484
	35	Georesources, Inc. (D)		307
	36	Goodrich Petroleum Corp. (D)		1,076
	75	Gulf Island Fabrication		1,081
	56	Helmerich & Payne, Inc.		1,263
	35	Lufkin Industries, Inc.		1,203
	194	Matrix Service Co. (D)		1,488
	118	McMoRan Exploration Co. (D)		1,158
	92	NATCO Group, Inc. (D)		1,391
	32	Nordic Amer Tanker Shipping		1,066
	163	Penn Virginia Corp.		4,226
	67	Precision Drilling Trust		565
	116	RPC, Inc.		1,136
	165	St. Mary Land & Exploration Co.		3,359
	120	T-3 Energy Services, Inc. (D)		1,137
	369	Vaalco Energy, Inc. (D)		2,742
	119	Whiting Petroleum Corp. (D)		3,996
	245	Willbros Group, Inc. (D)		2,078

				56,698

		Food & Staples Retailing — 1.2%
	235	BJ’s Wholesale Club, Inc. (D)		8,055
	75	Spartan Stores, Inc.		1,743
	103	Winn-Dixie Stores, Inc. (D)		1,664

				11,462

		Food, Beverage & Tobacco — 1.7%
	58	Cal-Maine Foods, Inc.		1,673
	51	Diamond Foods, Inc.		1,020
	115	Flowers Foods, Inc.		2,790
	32	Green Mountain Coffee Roasters (D)		1,248
	111	Ralcorp Holdings, Inc. (D)		6,492
	165	Smithfield Foods, Inc. (D)		2,325
	101	Vector Group Ltd.		1,382

				16,930

		Health Care Equipment & Services — 9.1%
	145	Align Technology, Inc. (D)		1,268
	35	Almost Family, Inc. (D)		1,558
	53	Amedisys, Inc. (D)		2,171
	166	American Medical Systems Holdings (D)		1,493
	37	Athenahealth, Inc. (D)		1,408
	83	Catalyst Health Solutions (D)		2,024
	69	Centene Corp. (D)		1,359
	37	Chemed Corp.		1,463
	49	Computer Programs and Systems, Inc.		1,316
	52	Conceptus, Inc. (D)		791
	121	Cross Country Healthcare, Inc. (D)		1,066
	195	CryoLife, Inc. (D)		1,898
	137	Cyberonics, Inc. (D)		2,262
	87	Eclipsys Corp. (D)		1,238
	41	Emergency Medical Services (D)		1,503
	40	Genoptix, Inc. (D)		1,354
	36	Haemonetics Corp. (D)		2,016
	294	Health Net, Inc. (D)		3,201
	932	HealthSouth Corp. (D)		10,211
	44	HMS Holdings Corp. (D)		1,379
	86	Immucor, Inc. (D)		2,292
	52	Integra LifeSciences Holdings Corp. (D)		1,860
	16	Landauer, Inc.		1,178
	55	LHC Group, Inc. (D)		1,985
	102	Masimo Corp. (D)		3,032
	83	MedAssets, Inc. (D)		1,216
	37	Meridian Bioscience, Inc.		945
	77	NuVasive, Inc. (D)		2,677
	48	Owens & Minor, Inc.		1,821
	65	PSS World Medical, Inc. (D)		1,221
	82	Psychiatric Solutions, Inc. (D)		2,270
	102	Quidel Corp. (D)		1,331
	121	Sirona Dental Systems, Inc. (D)		1,267
	475	SSL International plc		3,468
	125	STERIS Corp.		2,974
	141	Thoratec Corp. (D)		4,572
	488	Volcano Corp. (D)		7,318
	32	West Pharmaceutical Services		1,197
	59	Wright Medical Group, Inc. (D)		1,206
	179	Zoll Medical Corp. (D)		3,387

				88,196

		Household & Personal Products — 0.3%
	260	American Oriental Bioengineering, Inc. (D)		1,763
	23	Chattem, Inc. (D)		1,624

				3,387

		Insurance — 3.6%
	257	Allied World Assurance Holdings Ltd.		10,449
	67	Arch Capital Group Ltd. (D)		4,715
	157	Axis Capital Holdings Ltd.		4,585
	58	eHealth, Inc. (D)		777
	575	Lancashire Holdings Ltd.		3,592
	64	PartnerRe Ltd.		4,573
	45	Tower Group, Inc.		1,280
	155	W.R. Berkley Corp.		4,790

				34,761

		Materials — 2.4%
	151	Albemarle Corp.		3,374
	89	Calgon Carbon Corp. (D)		1,366
	27	Compass Minerals Group, Inc.		1,560
	107	FMC Corp.		4,774
	190	Innophos Holdings, Inc.		3,770
	36	Rock Tenn Co. Class A		1,241
	32	Silgan Holdings, Inc.		1,523
	735	Solutia, Inc. (D)		3,309
	18	Universal Stainless & Alloy Products (D)		256

The accompanying notes are an integral part of these financial statements.

131

Hartford Small Company HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Materials — (continued)
	86	Worthington Industries, Inc.	$	946
	74	Zep, Inc.		1,429

				23,548

		Media — 2.0%
	93	DreamWorks Animation SKG, Inc. (D)		2,346
	319	Interactive Data Corp.		7,865
	293	Marvel Entertainment, Inc. (D)		9,027

				19,238

		Pharmaceuticals, Biotechnology & Life Sciences — 11.2%
	149	Albany Molecular Research, Inc. (D)		1,451
	158	Alexion Pharmaceuticals, Inc. (D)		5,712
	460	Alkermes, Inc. (D)		4,902
	208	Auxilium Pharmaceuticals, Inc. (D)		5,912
	29	Bio-Rad Laboratories, Inc. Class A (D)		2,215
	437	Celera Corp. (D)		4,858
	70	Cephalon, Inc. (D)		5,421
	140	Cougar Biotechnology, Inc. (D)		3,642
	212	Cubist Pharmaceuticals, Inc. (D)		5,114
	167	CV Therapeutics, Inc. (D)		1,540
	54	Emergent Biosolutions, Inc. (D)		1,413
	283	Enzon, Inc. (D)		1,647
	256	eResearch Technology, Inc. (D)		1,700
	41	Facet Biotech Corp. (D)		396
	327	Icon plc ADR (D)		6,444
	113	Isis Pharmaceuticals, Inc. (D)		1,609
	272	KV Pharmaceutical Co. (D)		783
	64	Life Sciences Research, Inc. (D)		601
	104	Luminex Corp. (D)		2,213
	89	Martek Biosciences Corp.		2,707
	194	Medicines Co. (D)		2,854
	170	Medicis Pharmaceutical Corp. Class A		2,368
	49	Myriad Genetics, Inc. (D)		3,228
	231	NPS Pharmaceuticals, Inc. (D)		1,434
	159	Obagi Medical Products, Inc. (D)		1,185
	124	Onyx Pharmaceuticals, Inc. (D)		4,224
	85	OSI Pharmaceuticals, Inc. (D)		3,324
	247	PDL Biopharma, Inc.		1,526
	208	Perrigo Co.		6,728
	227	Pharmaceutical Product Development, Inc.		6,574
	283	Questcor Pharmaceuticals (D)		2,636
	311	Regeneron Pharmaceuticals, Inc. (D)		5,718
	142	Sequenom, Inc. (D)		2,815
	79	Valeant Pharmaceuticals International (D)		1,817
	38	Varian, Inc. (D)		1,273
	264	VIVUS, Inc. (D)		1,403

				109,387

		Real Estate — 0.7%
	35	Equity Lifestyle Properties, Inc.		1,359
	39	Home Properties of New York, Inc.		1,598
	130	MFA Mortgage Investments, Inc.		764
	44	Tanger Factory Outlet Center		1,667
	42	Washington Real Estate Investment Trust		1,190

				6,578

		Retailing — 3.7%
	103	99 Cents Only Stores (D)		1,122
	202	Advance Automotive Parts, Inc.		6,792
	102	Aeropostale, Inc. (D)		1,643
	135	Big Lots, Inc. (D)		1,955
	77	The Buckle, Inc.		1,674
	193	Dick’s Sporting Goods, Inc. (D)		2,720
	74	Dufry Group		2,087
	255	The Finish Line, Inc.		1,426
	347	Foot Locker, Inc.		2,547
	226	GameStop Corp. Class A (D)		4,893
	158	Limited Brands, Inc.		1,586
	141	LKQ Corp. (D)		1,648
	65	Netflix, Inc. (D)		1,930
	107	PetMed Express, Inc. (D)		1,879
	48	Tractor Supply Co. (D)		1,729

				35,631

		Semiconductors & Semiconductor Equipment — 3.1%
	373	Atheros Communications, Inc. (D)		5,326
	51	Hittite Microwave Corp. (D)		1,514
	123	Micrel, Inc.		898
	457	Microsemi Corp. (D)		5,772
	1,475	ON Semiconductor Corp. (D)		5,015
	340	PMC — Sierra, Inc. (D)		1,652
	72	Power Integrations, Inc.		1,426
	88	Semtech Corp. (D)		987
	1,172	Skyworks Solutions, Inc. (D)		6,493
	75	Ultratech Stepper, Inc. (D)		900

				29,983

		Software & Services — 14.2%
	94	ACI Worldwide, Inc. (D)		1,501
	68	Advent Software, Inc. (D)		1,362
	688	Ariba, Inc. (D)		4,959
	165	AsiaInfo Holdings, Inc. (D)		1,957
	341	Autonomy Corp. plc (D)		4,820
	59	Blackboard, Inc. (D)		1,557
	152	CACI International, Inc. Class A (D)		6,841
	70	Commvault Systems, Inc. (D)		935
	81	Concur Technologies, Inc. (D)		2,671
	82	CSG Systems International, Inc. (D)		1,437
	127	CyberSource Corp. (D)		1,521
	47	Digital River, Inc. (D)		1,175
	295	Earthlink, Inc. (D)		1,997
	66	EPIQ Systems, Inc. (D)		1,098
	112	Equinix, Inc. (D)		5,975
	119	Factset Research Systems, Inc.		5,284
	62	Forrester Research, Inc. (D)		1,757
	144	Gartner, Inc. Class A (D)		2,574
	154	Informatica Corp. (D)		2,119
	96	Interwoven, Inc. (D)		1,216
	92	j2 Global Communications, Inc. (D)		1,847
	89	Jack Henry & Associates, Inc.		1,727
	86	JDA Software Group, Inc. (D)		1,135
	84	Manhattan Associates, Inc. (D)		1,328
	30	Mantech International Corp. Class A (D)		1,647
	243	McAfee, Inc. (D)		8,390
	110	Micros Systems (D)		1,795
	266	Net 1 UEPS Technologies, Inc. (D)		3,647
	391	Netease.com, Inc. (D)		8,637
	190	Netscout Systems, Inc. (D)		1,637
	105	Omniture, Inc. (D)		1,120

The accompanying notes are an integral part of these financial statements.

132


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Software & Services — (continued)
	204	Parametric Technology Corp. (D)	$	2,577
	65	Pegasystems, Inc.		802
	37	Quality Systems		1,605
	469	Red Hat, Inc. (D)		6,204
	278	RightNow Technologies, Inc. (D)		2,148
	174	S1 Corp. (D)		1,376
	313	Sapient Corp. (D)		1,390
	123	Smith Micro Software, Inc. (D)		686
	581	Solera Holdings, Inc. (D)		14,006
	114	Sybase, Inc. (D)		2,813
	171	Symyx Technologies (D)		1,017
	46	Syntel, Inc.		1,066
	293	Take-Two Interactive Software, Inc.		2,217
	107	Taleo Corp. Class A (D)		838
	151	TeleCommunication Systems, Inc. Class A (D)		1,294
	148	TiVo, Inc. (D)		1,063
	110	Tyler Corp. (D)		1,315
	227	UbiSoft Entertainment S.A. (D)		4,477
	72	VistaPrint Ltd. (D)		1,348
	148	Websense, Inc. (D)		2,218
	217	Wind River Systems, Inc. (D)		1,963

				138,089

		Technology Hardware & Equipment — 5.2%
	88	ADTRAN, Inc.		1,304
	75	Bigband Networks, Inc. (D)		415
	104	Cogent, Inc. (D)		1,418
	118	Cognex Corp.		1,745
	44	Comtech Telecommunications Corp. (D)		2,007
	95	Data Domain, Inc. (D)		1,791
	275	FLIR Systems, Inc. (D)		8,449
	229	Harmonic, Inc. (D)		1,286
	115	Interdigital, Inc. (D)		3,159
	91	Intermec, Inc. (D)		1,202
	99	IPG Photonics Corp. (D)		1,299
	88	Itron, Inc. (D)		5,605
	50	MTS Systems Corp.		1,339
	347	NCR Corp. (D)		4,911
	205	Netezza Corp. (D)		1,361
	252	Nice Systems Ltd. (D)		5,661
	8	PC-Tel, Inc.		53
	78	Plexus Corp. (D)		1,329
	133	Polycom, Inc. (D)		1,802
	101	Riverbed Technology, Inc. (D)		1,146
	166	Starent Networks Corp. (D)		1,977
	64	Synaptics, Inc. (D)		1,054

				50,313

		Telecommunication Services — 2.2%
	289	Centennial Cellular Corp. Class A (D)		2,331
	122	Iowa Telecommunications Services, Inc.		1,738
	646	MetroPCS Communications, Inc. (D)		9,593
	77	NTELOS Holdings Corp.		1,910
	127	Premiere Global Services, Inc. (D)		1,090
	47	Shenandoah Telecommunications Co.		1,330
	101	Syniverse Holdings, Inc. (D)		1,203
	283	TW Telecom, Inc. (D)		2,393

				21,588

		Transportation — 2.8%
	137	Allegiant Travel Co. (D)		6,636
	40	Genesee & Wyoming, Inc. Class A (D)		1,212
	375	Heartland Express, Inc.		5,909
	260	Hub Group, Inc. (D)		6,898
	131	J.B. Hunt Transport Services, Inc.		3,433
	113	Knight Transportation, Inc.		1,827
	46	Old Dominion Freight Line, Inc. (D)		1,322

				27,237

		Utilities — 0.5%
	28	ITC Holdings Corp.		1,243
	151	UGI Corp.		3,681

				4,924

		Total common stock (cost $1,144,802)	$	934,709


EXCHANGE TRADED FUNDS — 0.5%
		Other Investment Pools and Funds — 0.5%
	90	iShares Russell 2000 Growth Index Fund	$	4,577

		Total exchange traded funds (cost $4,443)	$	4,577

		Total long-term investments (cost $1,149,245)	$	939,286


Principal
Amount

SHORT-TERM INVESTMENTS — 3.0%
		Repurchase Agreements — 2.9%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $8, collateralized by U.S. Treasury Note 4.50%, 2009, value of $9)
$	8	0.03% dated 12/31/2008	$	8
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,714, collateralized by FNMA 5.00%, 2035 — 2038, value of $3,788)
	3,714	0.08% dated 12/31/2008		3,714
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,508, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $9,601)
	9,508	0.01% dated 12/31/2008		9,508
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $163, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $167)
	163	0.07% dated 12/31/2008		163
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,591, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $3,663)
	3,591	0.10% dated 12/31/2008		3,591

The accompanying notes are an integral part of these financial statements.

133

Hartford Small Company HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,305, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $3,372)
$	3,305	0.05% dated 12/31/2008			$	3,305
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $6,303, collateralized by U.S. Treasury Note 3.13%, 2013, value of $6,410)
	6,303	0.03% dated 12/31/2008				6,303
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,466, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $1,467)
	1,466	0.02% dated 12/31/2008				1,466
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $449, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $458)
	449	0.07% dated 12/31/2008				449

						28,507

		U.S. Treasury Bills — 0.1%
	1,195	0.10%, 01/15/2009 (M)(S)				1,195

		Total short-term investments (cost $29,701)			$	29,702

		Total investments (cost $1,178,946) (C)	99.6	%	$	968,988
		Other assets and liabilities	0.4	%		3,501

		Total net assets	100.0	%	$	972,489


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 3.95% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,204,264 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	8,710
Unrealized Depreciation		(243,986	)

Net Unrealized Depreciation	$	(235,276	)


(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

Russell 2000 Mini

272

Long

Mar 2009

425


		* The number of contracts does not omit 000’s.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

British Pound (Buy)	$	196	$	194		01/05/09	$	2
Japanese Yen (Sell)		287		288		01/05/09		1
Japanese Yen (Sell)		380		383		01/06/09		3
Japanese Yen (Sell)		404		406		01/07/09		2

							$	8


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

134

Hartford SmallCap Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 97.2%
		Automobiles & Components — 0.4%
	19	Exide Technologies (D)	$	100
	52	Fuel Systems Solutions, Inc. (D)		1,702

				1,802

		Banks — 0.0%
	6	SVB Financial Group (D)		164
		Capital Goods — 10.4%
	64	A.O. Smith Corp.		1,892
	6	Aceto Corp.		57
	105	Actuant Corp. Class A		2,003
	194	Acuity Brands, Inc.		6,772
	5	Applied Signal Technology		85
	2	Axsys Technologies, Inc. (D)		93
	12	Beacon Roofing Supply, Inc. (D)		162
	74	Belden, Inc.		1,535
	37	Bucyrus International, Inc.		678
	114	Ceradyne, Inc. (D)		2,309
	84	Chart Industries, Inc. (D)		892
	4	Clarcor, Inc.		136
	51	Columbus McKinnon Corp. (D)		689
	4	Curtis-Wright Corp.		126
	5	Dynamic Materials Corp.		93
	9	EMCOR Group, Inc. (D)		194
	4	Energy Conversion Devices, Inc. (D)		97
	3	ESCO Technologies, Inc. (D)		137
	170	Esterline Technologies Corp. (D)		6,456
	15	Flowserve Corp.		788
	217	Force Protection, Inc. (D)		1,295
	5	Gorman Rupp Co.		151
	68	Graco, Inc.		1,624
	166	GrafTech International Ltd. (D)		1,383
	64	Graham Corp.		687
	4	Heico Corp.		168
	7	II-VI, Inc. (D)		140
	13	Insteel Industries, Inc.		147
	59	Lennox International, Inc.		1,899
	26	Lindsay Corp.		839
	14	MasTec, Inc. (D)		166
	5	Michael Baker Corp. (D)		173
	1	NN, Inc.		3
	3	Nordson Corp.		108
	13	Orbital Sciences Corp. (D)		251
	8	Perini Corp. (D)		186
	57	Powell Industries, Inc. (D)		1,640
	5	Raven Industries		117
	157	Robbins & Myers, Inc.		2,539
	98	Sun Hydraulics Corp.		1,842
	80	Teledyne Technologies, Inc. (D)		3,593
	2	Thermadyne Holdings Corp. (D)		15
	45	Titan International, Inc.		372
	9	Titan Machinery, Inc. (D)		125
	5	TransDigm Group, Inc. (D)		165
	8	Trex Co., Inc. (D)		124
	22	Triumph Group, Inc.		943
	7	Wabtec Corp.		273
	3	Watsco, Inc.		128
	7	Woodward Governor Co.		165

				46,455

		Commercial & Professional Services — 4.7%
	4	Administaff, Inc.		95
	6	American Ecology Corp.		131
	10	CBIZ, Inc. (D)		87
	3	Clean Harbors, Inc. (D)		204
	48	Consolidated Graphics, Inc. (D)		1,093
	5	CoStar Group, Inc. (D)		171
	6	Geo Group, Inc. (D)		110
	9	Herman Miller, Inc.		115
	6	HNI Corp.		102
	2	Huron Consulting Group, Inc. (D)		120
	20	Knoll, Inc.		179
	188	Manpower, Inc.		6,380
	1	Multi-Color Corp.		19
	7	Navigant Consulting, Inc. (D)		107
	21	PRG-Schultz International (D)		85
	84	Resources Connection, Inc. (D)		1,375
	5	Rollins, Inc.		97
	4	Standard Register Co.		36
	5	Sykes Enterprises, Inc. (D)		94
	8	Tetra Tech, Inc. (D)		200
	11	TrueBlue, Inc. (D)		102
	11	Waste Connections, Inc. (D)		335
	205	Watson Wyatt Worldwide, Inc.		9,792

				21,029

		Consumer Durables & Apparel — 2.1%
	2	Deckers Outdoor Corp. (D)		172
	120	Jakks Pacific, Inc. (D)		2,471
	219	Liz Claiborne, Inc.		569
	5	Polaris Industries, Inc.		156
	5	Pool Corp.		90
	80	Skechers U.S.A., Inc. Class A (D)		1,026
	16	True Religion Apparel, Inc. (D)		199
	101	Tupperware Brands Corp.		2,295
	4	Under Armour, Inc. Class A (D)		92
	109	Warnaco Group, Inc. (D)		2,131
	7	Wolverine World Wide, Inc.		144

				9,345

		Consumer Services — 5.2%
	5	American Public Education, Inc. (D)		183
	58	Bally Technologies, Inc. (D)		1,378
	2	Capella Education Co. (D)		110
	16	Corinthian Colleges, Inc. (D)		266
	77	ITT Educational Services, Inc. (D)		7,268
	4	Matthews International Corp. Class A		146
	5	P. F. Chang’s China Bistro, Inc. (D)		110
	56	Pre-Paid Legal Services, Inc. (D)		2,103
	2	Steiner Leisure Ltd. (D)		70
	14	Strayer Education, Inc.		2,895
	20	Wendy’s/Arby’s Group, Inc.		101
	320	WMS Industries, Inc. (D)		8,625

				23,255

		Diversified Financials — 0.8%
	5	Cash America International, Inc.		139
	11	Ezcorp, Inc. (D)		173
	4	First Cash Financial Services, Inc. (D)		67
	2	Greenhill & Co., Inc.		127
	6	Interactive Brokers Group (D)		115
	10	Knight Capital Group, Inc. (D)		158
	2	Life Partners Holdings, Inc.		93

The accompanying notes are an integral part of these financial statements.

135

Hartford SmallCap Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Diversified Financials — (continued)
	8	optionsXpress Holdings, Inc.	$	102
	6	Riskmetrics Group, Inc. (D)		93
	173	Thinkorswim Group, Inc. (D)		971
	94	Waddell and Reed Financial, Inc. Class A		1,452

				3,490

		Energy — 7.0%
	4	Arena Resources, Inc. (D)		122
	12	ATP Oil & Gas Corp. (D)		73
	10	Basic Energy Services, Inc. (D)		132
	13	Bolt Technology Corp. (D)		87
	270	Brigham Exploration Co. (D)		863
	5	Carbo Ceramics, Inc.		184
	3	Clayton Williams Energy, Inc. (D)		149
	373	Complete Production Services, Inc. (D)		3,042
	137	Comstock Resources, Inc. (D)		6,459
	8	Concho Resources, Inc. (D)		175
	3	Contango Oil & Gas Co. (D)		145
	117	CVR Energy, Inc. (D)		466
	5	Dril-Quip, Inc. (D)		102
	4	Englobal Corp. (D)		13
	15	Exco Resources, Inc. (D)		132
	3	Georesources, Inc. (D)		28
	3	Goodrich Petroleum Corp. (D)		96
	535	Gran Tierra Energy Corp. (D)		1,498
	7	Gulf Island Fabrication		100
	38	Helmerich & Payne, Inc.		864
	3	Lufkin Industries, Inc.		106
	17	Matrix Service Co. (D)		134
	201	McMoRan Exploration Co. (D)		1,967
	8	NATCO Group, Inc. (D)		124
	3	Nordic Amer Tanker Shipping		96
	26	Overseas Shipholding Group, Inc.		1,074
	5	Penn Virginia Corp.		141
	184	Pioneer Drilling Co. (D)		1,026
	6	Precision Drilling Trust		50
	10	RPC, Inc.		101
	201	St. Mary Land & Exploration Co.		4,078
	66	Swift Energy Co. (D)		1,103
	11	T-3 Energy Services, Inc. (D)		101
	91	Trico Marine Services, Inc. (D)		406
	141	Union Drilling, Inc. (D)		729
	471	Vaalco Energy, Inc. (D)		3,499
	132	W&T Offshore, Inc.		1,889
	22	Willbros Group, Inc. (D)		185

				31,539

		Food & Staples Retailing — 1.1%
	130	BJ’s Wholesale Club, Inc. (D)		4,437
	7	Spartan Stores, Inc.		156
	9	Winn-Dixie Stores, Inc. (D)		147

				4,740

		Food, Beverage & Tobacco — 0.5%
	5	Cal-Maine Foods, Inc.		149
	285	Darling International, Inc. (D)		1,562
	4	Diamond Foods, Inc.		90
	10	Flowers Foods, Inc.		249
	3	Green Mountain Coffee Roasters (D)		111
	2	Ralcorp Holdings, Inc. (D)		129
	8	Vector Group Ltd.		113

				2,403

		Health Care Equipment & Services — 11.3%
	13	Align Technology, Inc. (D)		113
	3	Almost Family, Inc. (D)		139
	5	Amedisys, Inc. (D)		198
	170	American Medical Systems Holdings (D)		1,527
	162	Angiodynamics, Inc. (D)		2,211
	3	Athenahealth, Inc. (D)		125
	7	Catalyst Health Solutions (D)		180
	6	Centene Corp. (D)		121
	3	Chemed Corp.		131
	4	Computer Programs and Systems, Inc.		117
	61	Conceptus, Inc. (D)		919
	111	Corvel Corp. (D)		2,435
	11	Cross Country Healthcare, Inc. (D)		95
	17	CryoLife, Inc. (D)		169
	76	Cyberonics, Inc. (D)		1,260
	73	Cynosure, Inc. Class A (D)		667
	8	Eclipsys Corp. (D)		111
	4	Emergency Medical Services (D)		132
	238	Ev3, Inc. (D)		1,453
	4	Genoptix, Inc. (D)		121
	3	Haemonetics Corp. (D)		180
	114	Hanger Orthopedic Group, Inc. (D)		1,651
	347	Healthspring, Inc. (D)		6,928
	4	HMS Holdings Corp. (D)		123
	8	Immucor, Inc. (D)		203
	5	Integra LifeSciences Holdings Corp. (D)		165
	185	Invacare Corp.		2,871
	57	Kensey Nash Corp. (D)		1,108
	1	Landauer, Inc.		106
	5	LHC Group, Inc. (D)		177
	299	LifePoint Hospitals, Inc. (D)		6,834
	9	Masimo Corp. (D)		269
	7	MedAssets, Inc. (D)		108
	4	Meridian Bioscience, Inc.		95
	117	Merit Medical Systems, Inc. (D)		2,105
	7	NuVasive, Inc. (D)		238
	105	Owens & Minor, Inc.		3,964
	94	PharMerica Corp. (D)		1,478
	6	PSS World Medical, Inc. (D)		109
	7	Psychiatric Solutions, Inc. (D)		198
	9	Quidel Corp. (D)		116
	11	Sirona Dental Systems, Inc. (D)		113
	86	STERIS Corp.		2,051
	130	Symmetry Medical, Inc. (D)		1,039
	51	Thoratec Corp. (D)		1,635
	62	U.S. Physical Therapy, Inc. (D)		821
	134	Vnus Medical Technologies (D)		2,169
	75	Volcano Corp. (D)		1,133
	3	West Pharmaceutical Services		106
	5	Wright Medical Group, Inc. (D)		108

				50,425

		Household & Personal Products — 1.6%
	398	American Oriental Bioengineering, Inc. (D)		2,703
	2	Chattem, Inc. (D)		144

The accompanying notes are an integral part of these financial statements.

136


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Household & Personal Products — (continued)
	423	Nu Skin Enterprises, Inc. Class A	$	4,412

				7,259

		Insurance — 2.3%
	120	Allied World Assurance Holdings Ltd.		4,860
	265	Amerisafe, Inc. (D)		5,449
	5	eHealth, Inc. (D)		69
	4	Tower Group, Inc.		115

				10,493

		Materials — 1.4%
	8	Calgon Carbon Corp. (D)		122
	88	Cliff’s Natural Resources, Inc.		2,251
	2	Compass Minerals Group, Inc.		139
	143	Headwaters, Inc. (D)		967
	17	Innophos Holdings, Inc.		336
	40	OM Group, Inc. (D)		849
	3	Rock Tenn Co. Class A		109
	3	Silgan Holdings, Inc.		131
	71	Terra Industries, Inc.		1,179
	2	Universal Stainless & Alloy Products (D)		22
	8	Worthington Industries, Inc.		85
	7	Zep, Inc.		128

				6,318

		Media — 0.9%
	147	Arbitron, Inc.		1,953
	5	Interactive Data Corp.		134
	64	Marvel Entertainment, Inc. (D)		1,975

				4,062

		Pharmaceuticals, Biotechnology & Life Sciences — 16.9%
	13	Albany Molecular Research, Inc. (D)		127
	8	Alexion Pharmaceuticals, Inc. (D)		284
	623	Alkermes, Inc. (D)		6,635
	62	Alnylam Pharmaceuticals, Inc. (D)		1,526
	565	Arena Pharmaceuticals, Inc. (D)		2,354
	27	Bio-Rad Laboratories, Inc. Class A (D)		1,996
	134	Bruker Corp. (D)		541
	395	Celera Corp. (D)		4,395
	78	Cubist Pharmaceuticals, Inc. (D)		1,894
	677	CV Therapeutics, Inc. (D)		6,237
	794	Cytokinetics, Inc. (D)		2,264
	5	Emergent Biosolutions, Inc. (D)		126
	25	Enzon, Inc. (D)		147
	23	eResearch Technology, Inc. (D)		152
	4	Facet Biotech Corp. (D)		35
	670	Human Genome Sciences, Inc. (D)		1,420
	96	InterMune, Inc. (D)		1,018
	10	Isis Pharmaceuticals, Inc. (D)		142
	123	Kendle International, Inc. (D)		3,151
	24	KV Pharmaceutical Co. (D)		70
	6	Life Sciences Research, Inc. (D)		54
	9	Luminex Corp. (D)		197
	8	Martek Biosciences Corp.		241
	256	Medicines Co. (D)		3,774
	15	Medicis Pharmaceutical Corp. Class A		211
	4	Myriad Genetics, Inc. (D)		287
	21	NPS Pharmaceuticals, Inc. (D)		128
	14	Obagi Medical Products, Inc. (D)		105
	87	Onyx Pharmaceuticals, Inc. (D)		2,948
	41	OSI Pharmaceuticals, Inc. (D)		1,572
	22	PDL Biopharma, Inc.		136
	157	PerkinElmer, Inc.		2,184
	140	Perrigo Co.		4,536
	132	Pharmasset, Inc. (D)		1,732
	127	Progenics Pharmaceuticals, Inc. (D)		1,306
	25	Questcor Pharmaceuticals (D)		235
	328	Regeneron Pharmaceuticals, Inc. (D)		6,020
	332	Rigel Pharmaceuticals, Inc. (D)		2,658
	463	Salix Pharmaceuticals Ltd. (D)		4,091
	101	Theravance, Inc. (D)		1,255
	7	Valeant Pharmaceuticals International (D)		161
	63	Varian, Inc. (D)		2,114
	69	Vertex Pharmaceuticals, Inc. (D)		2,108
	23	VIVUS, Inc. (D)		125
	70	Watson Pharmaceuticals, Inc. (D)		1,849
	42	Xenoport, Inc. (D)		1,041

				75,582

		Real Estate — 0.7%
	183	Anworth Mortgage Asset Corp.		1,175
	3	Equity Lifestyle Properties, Inc.		121
	4	Home Properties of New York, Inc.		144
	4	Tanger Factory Outlet Center		149
	57	Taubman Centers, Inc.		1,449
	4	Washington Real Estate Investment Trust		105

				3,143

		Retailing — 2.6%
	9	99 Cents Only Stores (D)		99
	9	Aeropostale, Inc. (D)		146
	78	Big Lots, Inc. (D)		1,127
	7	The Buckle, Inc.		149
	60	Citi Trends, Inc. (D)		885
	25	The Finish Line, Inc.		141
	235	Hot Topic, Inc. (D)		2,175
	99	Netflix, Inc. (D)		2,953
	99	Nutri/System, Inc.		1,439
	79	Overstock.com, Inc. (D)		847
	9	PetMed Express, Inc. (D)		166
	87	Source Information Management Co. (D)		12
	4	Tractor Supply Co. (D)		150
	503	Wet Seal, Inc. Class A (D)		1,494

				11,783

		Semiconductors & Semiconductor Equipment — 4.5%
	154	Advanced Energy Industries, Inc. (D)		1,532
	243	Atheros Communications, Inc. (D)		3,474
	5	Hittite Microwave Corp. (D)		137
	11	Micrel, Inc.		80
	11	Microsemi Corp. (D)		135
	90	MKS Instruments, Inc. (D)		1,334
	430	ON Semiconductor Corp. (D)		1,462
	330	PMC — Sierra, Inc. (D)		1,603
	6	Power Integrations, Inc.		127
	8	Semtech Corp. (D)		88
	355	Silicon Image, Inc. (D)		1,493
	1,073	Skyworks Solutions, Inc. (D)		5,945
	138	Ultra Clean Holdings, Inc. (D)		277
	7	Ultratech Stepper, Inc. (D)		80

The accompanying notes are an integral part of these financial statements.

137

Hartford SmallCap Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Semiconductors & Semiconductor Equipment — (continued)
	66	Varian Semiconductor Equipment Associates, Inc. (D)	$	1,195
	144	Volterra Semiconductor Corp. (D)		1,030

				19,992

		Software & Services — 12.8%
	8	ACI Worldwide, Inc. (D)		133
	6	Advent Software, Inc. (D)		121
	132	Ansys, Inc. (D)		3,681
	94	Ariba, Inc. (D)		678
	452	Art Technology Group, Inc. (D)		872
	77	AsiaInfo Holdings, Inc. (D)		911
	5	Blackboard, Inc. (D)		137
	139	Commvault Systems, Inc. (D)		1,872
	8	Concur Technologies, Inc. (D)		248
	189	CSG Systems International, Inc. (D)		3,302
	11	CyberSource Corp. (D)		136
	4	Digital River, Inc. (D)		104
	171	Earthlink, Inc. (D)		1,161
	6	EPIQ Systems, Inc. (D)		98
	27	Factset Research Systems, Inc.		1,172
	6	Forrester Research, Inc. (D)		156
	13	Gartner, Inc. Class A (D)		228
	14	Informatica Corp. (D)		188
	235	Infospace, Inc.		1,775
	9	Interwoven, Inc. (D)		108
	182	j2 Global Communications, Inc. (D)		3,657
	8	Jack Henry & Associates, Inc.		154
	85	JDA Software Group, Inc. (D)		1,106
	144	Kenexa Corp. (D)		1,147
	140	Limelight Networks, Inc. (D)		344
	7	Manhattan Associates, Inc. (D)		118
	3	Mantech International Corp. Class A (D)		146
	10	Micros Systems (D)		159
	182	ModusLink Global Solutions, Inc. (D)		527
	60	Net 1 UEPS Technologies, Inc. (D)		817
	17	Netscout Systems, Inc. (D)		145
	9	Omniture, Inc. (D)		100
	439	Parametric Technology Corp. (D)		5,554
	6	Pegasystems, Inc.		72
	3	Quality Systems		144
	118	Red Hat, Inc. (D)		1,559
	15	S1 Corp. (D)		122
	811	Sapient Corp. (D)		3,600
	11	Smith Micro Software, Inc. (D)		61
	46	Sohu.com, Inc. (D)		2,154
	141	Solera Holdings, Inc. (D)		3,405
	140	Switch & Data Facilities Co. (D)		1,032
	132	Sybase, Inc. (D)		3,268
	15	Symyx Technologies (D)		88
	4	Syntel, Inc.		95
	120	Take-Two Interactive Software, Inc.		909
	10	Taleo Corp. Class A (D)		75
	192	TeleCommunication Systems, Inc. Class A (D)		1,651
	190	Tibco Software, Inc. (D)		983
	140	TiVo, Inc. (D)		1,005
	10	Tyler Corp. (D)		117
	303	United Online, Inc.		1,838
	88	Vignette Corp. (D)		830
	6	VistaPrint Ltd. (D)		121
	38	Vocus, Inc. (D)		697
	13	Websense, Inc. (D)		197
	256	Wind River Systems, Inc. (D)		2,311

				57,389

		Technology — 0.1%
	68	Polypore International, Inc. (D)		516
		Technology Hardware & Equipment — 6.0%
	8	ADTRAN, Inc.		116
	256	Arris Group, Inc. (D)		2,033
	158	Avocent Corp. (D)		2,835
	182	Benchmark Electronics, Inc. (D)		2,329
	7	Bigband Networks, Inc. (D)		37
	9	Cogent, Inc. (D)		126
	11	Cognex Corp.		156
	4	Comtech Telecommunications Corp. (D)		179
	8	Data Domain, Inc. (D)		160
	492	Emulex Corp. (D)		3,437
	20	Harmonic, Inc. (D)		115
	131	Ingram Micro, Inc. (D)		1,757
	42	Interdigital, Inc. (D)		1,149
	8	Intermec, Inc. (D)		107
	9	IPG Photonics Corp. (D)		115
	25	Itron, Inc. (D)		1,606
	4	MTS Systems Corp.		119
	99	Multi-Fineline Electronix, Inc. (D)		1,154
	18	Netezza Corp. (D)		121
	1	PC-Tel, Inc.		5
	91	Plexus Corp. (D)		1,537
	12	Polycom, Inc. (D)		161
	199	QLogic Corp. (D)		2,673
	87	Riverbed Technology, Inc. (D)		984
	234	Starent Networks Corp. (D)		2,783
	36	Synaptics, Inc. (D)		589
	74	Vishay Intertechnology, Inc. (D)		254

				26,637

		Telecommunication Services — 1.4%
	129	Atlantic Tele-Network, Inc.		3,433
	26	Centennial Cellular Corp. Class A (D)		207
	11	Iowa Telecommunications Services, Inc.		155
	50	NTELOS Holdings Corp.		1,238
	11	Premiere Global Services, Inc. (D)		97
	4	Shenandoah Telecommunications Co.		118
	82	Syniverse Holdings, Inc. (D)		973
	25	TW Telecom, Inc. (D)		213

				6,434

		Transportation — 2.0%
	3	Allegiant Travel Co. (D)		132
	4	Genesee & Wyoming, Inc. Class A (D)		108
	9	Heartland Express, Inc.		145
	201	Hub Group, Inc. (D)		5,329
	10	Knight Transportation, Inc.		163
	4	Old Dominion Freight Line, Inc. (D)		117
	174	Werner Enterprises, Inc.		3,020

				9,014

The accompanying notes are an integral part of these financial statements.

138


					Market
Shares					Value (W)

COMMON STOCK — (continued)
		Utilities — 0.5%
	3	ITC Holdings Corp.			$	110
	78	UniSource Energy Corp.				2,275

						2,385

		Total common stock (cost $577,590)			$	435,654


Principal
Amount

SHORT-TERM INVESTMENTS — 2.4%
		Repurchase Agreements — 2.3%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $7, collateralized by U.S. Treasury Note 4.50%, 2009, value of $7)
$	7	0.03% dated 12/31/2008			$	7
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,117, collateralized by FNMA 5.00%, 2035 — 2038, value of $3,180)
	3,117	0.08% dated 12/31/2008				3,117
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $585, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $590)
	585	0.01% dated 12/31/2008				585
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $137, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $140)
	137	0.07% dated 12/31/2008				137
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,015, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $3,075)
	3,015	0.10% dated 12/31/2008				3,015
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,775, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $2,830)
	2,775	0.05% dated 12/31/2008				2,775
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $387, collateralized by U.S. Treasury Note 3.13%, 2013, value of $394)
	387	0.03% dated 12/31/2008				387
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $90, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $90)
	90	0.02% dated 12/31/2008				90
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $377, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $384)
	377	0.07% dated 12/31/2008				377

						10,490

		U.S. Treasury Bills — 0.1%
	230	1.73%, 01/15/2009 (M)(S)				230

		Total short-term investments (cost $10,720)			$	10,720

		Total investments (cost $588,310) (C)	99.6	%	$	446,374
		Other assets and liabilities	0.4	%		1,783

		Total net assets	100.0	%	$	448,157


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 1.67% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $591,346 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	15,207
Unrealized Depreciation		(160,179	)

Net Unrealized Depreciation	$	(144,972	)


(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

Russell 2000 Mini

Long

Mar 2009


		* The number of contracts does not omit 000’s.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

139

Hartford SmallCap Value HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 93.6%
		Automobiles & Components — 0.4%
	2	American Axle & Manufacturing Holdings, Inc.	$	6
	3	ArvinMeritor, Inc.		7
	11	Dana Holding Corp. (D)		8
	4	Hayes Lemmerz International (D)		2
	5	Lear Corp. (D)		7
	3	Stoneridge, Inc. (D)		12
	—	Superior Industries International		3
	3	Tenneco Automotive, Inc. (D)		9
	14	Thor Industries, Inc.		184
	29	Visteon Corp. (D)		10

				248

		Banks — 10.6%
	—	Ames National Corp.		5
	2	Arrow Financial Corp.		40
	4	Banco Latinoamericano de Exportaciones S.A. ADR Class E		63
	1	Bank of the Ozarks, Inc.		15
	3	Bankfinancial Corp.		28
	1	Berkshire Hills Bancorp, Inc.		43
	66	Boston Private Financial Holdings, Inc.		452
	—	Brooklyn Federal Bancorp, Inc.		4
	1	Bryn Mawr Bank Corp.		18
	1	Camden National Corp.		35
	66	Cathay General Bancorp		1,564
	2	Citizens & Northern Corp.		38
	—	City Bank		1
	2	City Holding Co.		59
	2	Clifton Savings Bancorp, Inc.		19
	3	Colonial BancGroup, Inc.		6
	—	Community Bank System, Inc.		3
	21	CVB Financial Corp.		244
	3	Dime Community Bancshares		40
	4	East West Bancorp, Inc.		57
	1	Federal Agricultural Mortgage Corp.		2
	3	First Bancorp North Carolina		50
	6	First BanCorp Puerto Rico		70
	2	First Bancorp, Inc.		30
	6	First Commonwealth Financial Corp.		72
	—	First Financial Bankshares, Inc.		6
	5	First Financial Northwest		42
	2	First Merchants Corp.		51
	1	First Midwest Bancorp, Inc.		12
	7	First Niagara Financial Group, Inc.		118
	4	First Place Financial Corp.		13
	—	FirstFed Financial Corp. (D)		—
	4	FirstMerit Corp.		91
	—	Flushing Financial Corp.		1
	5	FNB Corp.		62
	3	Fox Chase Bancorp, Inc. (D)		34
	1	Glacier Bancorp		15
	2	Green Bankshares, Inc.		30
	8	Guaranty Bancorp (D)		17
	1	Hancock Holding Co.		50
	4	Hanmi Financial Corp.		7
	—	Harleysville National Corp.		3
	—	Iberiabank Corp.		5
	2	Integra Bank Corp.		3
	24	International Bancshares Corp.		517
	4	Kearny Financial Corp.		47
	2	Lakeland Bancorp, Inc.		24
	—	Lakeland Financial Corp.		7
	—	MainSource Financial Group, Inc.		5
	2	MB Financial, Inc.		50
	3	N B T Bancorp		78
	4	National Penn Bancshares, Inc.		57
	4	Newalliance Bancs		53
	1	Oceanfirst Financial Corp.		18
	3	Ocwen Financial Corp. (D)		24
	5	Old National Bankcorp		87
	3	Oriental Financial Group, Inc.		20
	4	Pacific Capital Bancorp		64
	2	PacWest Bancorp		40
	1	Peapack-Gladstone Financial		37
	1	Peoples Bancorp, Inc.		15
	1	Prosperity Bancshares, Inc.		18
	3	Provident Bankshares Corp.		31
	5	Provident Financial Services, Inc.		72
	5	Radian Group, Inc.		17
	2	Republic Bancorp, Inc.		54
	1	Rockville Financial, Inc.		20
	2	S&T Bancorp, Inc.		71
	—	S.Y. Bancorp, Inc.		3
	—	Sandy Spring Bancorp, Inc.		4
	3	Santander Bancorp		35
	2	Simmons First National Corp.		53
	2	Southside Bancshares, Inc.		47
	1	Southwest Bancorp		18
	1	Sterling Bancshares, Inc.		3
	3	Sterling Financial Corp.		22
	1	Suffolk Bancorp		47
	1	Sun Bancorp, Inc. (D)		7
	6	Susquehanna Bancshares, Inc.		91
	—	SVB Financial Group (D)		8
	33	Synovus Financial Corp.		274
	3	Towne Bank		62
	3	Trustco Bank Corp.		30
	1	Trustmark Corp.		19
	1	UMB Financial Corp.		39
	5	Umpqua Holdings Corp.		72
	1	United Bankshares, Inc.		20
	4	United Community Financial Corp.		3
	1	Univest Corp.		26
	3	WesBanco, Inc.		68
	2	Wilshire Bancorp, Inc.		21
	1	Wintrust Financial Corp.		23
	22	Zion Bancorp		539

				6,478

		Capital Goods — 9.1%
	2	A.O. Smith Corp.		44
	—	Actuant Corp. Class A		2
	1	Acuity Brands, Inc.		35
	14	AMETEK, Inc.		408
	2	Ampco-Pittsburgh Corp.		32
	4	Applied Industrial Technologies, Inc.		72
	2	Applied Signal Technology		43
	—	Arfon, Inc. (D)		7

The accompanying notes are an integral part of these financial statements.

140


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Capital Goods — (continued)
	1	Baldor Electric Co.	$	25
	—	Beacon Roofing Supply, Inc. (D)		1
	1	Belden, Inc.		19
	2	Brady Corp. Class A		53
	2	Briggs & Stratton Corp.		37
	2	Ceradyne, Inc. (D)		34
	1	CIRCOR International, Inc.		22
	32	Clarcor, Inc.		1,075
	2	Columbus McKinnon Corp. (D)		29
	1	Commercial Vehicles Group, Inc. (D)		1
	1	Cubic Corp.		14
	1	Ducommun, Inc.		8
	1	Dycom Industries, Inc. (D)		11
	5	EMCOR Group, Inc. (D)		110
	1	Encore Wire Corp.		13
	3	Enpro Industries, Inc. (D)		69
	3	Federal Signal Corp.		20
	2	Gibralter Industries, Inc.		24
	4	GrafTech International Ltd. (D)		32
	2	Granite Construction, Inc.		101
	1	Griffon Corp. (D)		8
	1	H & E Equipment Services, Inc. (D)		4
	31	Hexcel Corp. (D)		229
	26	Huttig Building Products, Inc. (D)(H)		12
	3	Insteel Industries, Inc.		33
	—	Integrated Electrical Services, Inc. (D)		2
	—	Kadant, Inc. (D)		1
	22	Lincoln Electric Holdings, Inc.		1,136
	6	Lydall, Inc. (D)		35
	2	Mueller Industries, Inc.		38
	6	Mueller Water Products, Inc.		46
	1	NCI Building Systems, Inc. (D)		23
	3	NN, Inc.		7
	1	Perini Corp. (D)		12
	32	Pike Electric Corp. (D)		387
	2	Quanex Building Products Corp.		14
	1	Regal-Beloit Corp.		42
	1	Robbins & Myers, Inc.		16
	18	Roper Industries, Inc.		781
	2	SauerDanfoss, Inc.		14
	—	Standex International		6
	—	TAL International Group, Inc.		1
	2	Tecumseh Products Co. Class A (D)		20
	1	Thermadyne Holdings Corp. (D)		3
	3	Tredegar Corp.		62
	1	Trimas Corp. (D)		1
	1	Twin Disc, Inc.		8
	3	Wabash National Corp.		13
	10	Watts Water Technologies, Inc.		245

				5,540

		Commercial & Professional Services — 8.5%
	64	ABM Industries, Inc.		1,215
	45	American Reprographics Co. LLC (D)		313
	18	ATC Technology Corp. (D)		249
	1	Bowne & Co., Inc.		8
	1	Casella Waste Systems, Inc. (D)		2
	7	Comfort Systems USA, Inc.		78
	1	Consolidated Graphics, Inc. (D)		14
	7	Copart, Inc. (D)		201
	—	Courier Corp.		5
	2	Deluxe Corp.		25
	3	G & K Services, Inc. Class A		53
	1	Heidrick & Struggles International, Inc.		11
	2	Herman Miller, Inc.		19
	3	HNI Corp.		43
	4	Hudson Highland Group, Inc. (D)		14
	2	ICT Group, Inc. (D)		10
	6	Kelly Services, Inc.		74
	—	Kforce, Inc. (D)		1
	1	Knoll, Inc.		13
	—	Korn/Ferry International (D)		5
	1	M & F Worldwide Corp. (D)		20
	52	McGrath RentCorp		1,094
	1	MPS Group, Inc. (D)		8
	15	Navigant Consulting, Inc. (D)		238
	2	On Assignment, Inc. (D)		9
	20	Resources Connection, Inc. (D)		328
	16	School Specialty, Inc. (D)		289
	24	Schwak, Inc.		275
	3	Spherion Corp. (D)		6
	—	Standard Parking Corp. (D)		8
	2	Standard Register Co.		13
	14	United Stationers, Inc. (D)		475
	2	Viad Corp.		49
	3	Waste Services, Inc. (D)		22

				5,187

		Consumer Durables & Apparel — 3.6%
	5	American Greetings Corp. Class A		38
	—	Beazer Homes USA, Inc. (D)		—
	5	Blyth, Inc.		36
	1	Brunswick Corp.		6
	2	Callaway Golf Co.		15
	5	Carter’s, Inc. (D)		96
	3	Champion Enterprises, Inc. (D)		2
	27	Cherokee, Inc.		465
	—	CSS Industries, Inc.		2
	1	Ethan Allen Interiors, Inc.		17
	2	Furniture Brands International, Inc.		4
	2	Hooker Furniture Corp.		14
	1	Hovnanian Enterprises Class A (D)		2
	3	Jakks Pacific, Inc. (D)		52
	—	M/I Schottenstein Homes, Inc.		4
	2	Maidenform Brands, Inc. (D)		15
	—	Meritage Homes Corp. (D)		4
	1	Movado Group		6
	—	National Presto Industries, Inc.		15
	—	Oxford Industries, Inc.		3
	1	Palm Harbor Holmes, Inc. (D)		5
	2	Polaris Industries, Inc.		63
	17	RC2 Corp. (D)		174
	2	Ryland Group, Inc.		30
	1	Skechers U.S.A., Inc. Class A (D)		18
	71	Tempur-Pedic International, Inc.		500
	5	Timberland Co. Class A (D)		54
	10	Unifirst Corp.		309
	21	Volcom, Inc. (D)		223

				2,172

The accompanying notes are an integral part of these financial statements.

141

Hartford SmallCap Value HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)
		Consumer Services — 2.8%
	2	AFC Enterprises, Inc. (D)	$	10
	1	Ameristar Casinos, Inc.		7
	2	Bob Evans Farms, Inc.		39
	3	California Pizza Kitchen, Inc. (D)		29
	1	CEC Entertainment, Inc. (D)		24
	1	Cracker Barrel Old Country Store, Inc.		23
	—	Great Wolf Resorts, Inc. (D)		—
	1	Jack in the Box, Inc. (D)		29
	4	Jackson Hewitt Tax Service, Inc.		57
	1	Marcus Corp.		11
	29	Matthews International Corp. Class A		1,049
	—	Monarch Casino & Resort, Inc. (D)		1
	3	O’ Charley’s, Inc.		6
	1	P. F. Chang’s China Bistro, Inc. (D)		23
	16	Papa John’s International, Inc. (D)		295
	—	Red Robin Gourmet Burgers, Inc. (D)		5
	4	Regis Corp.		58
	1	Ruby Tuesday, Inc. (D)		2
	6	Stewart Enterprises, Inc.		19
	1	Vail Resorts, Inc. (D)		16

				1,703

		Diversified Financials — 3.2%
	10	Advance America Cash Advance Centers, Inc.		18
	5	Apollo Investment Corp.		44
	120	Ares Capital Corp.		764
	—	Asset Acceptance (D)		1
	—	BGC Partners, Inc.		1
	2	Blackrock Kelso Capital Corp.		18
	4	Broadpoint Securities Group (D)		11
	1	Calamos Asset Management, Inc.		4
	—	Capital Southwest Corp.		22
	1	Cash America International, Inc.		38
	4	Compass Diversified Holdings		39
	2	Encore Capital Group, Inc. (D)		16
	—	Evercore Partners, Inc.		3
	2	Fifth Street Finance Corp.		15
	25	Financial Federal Corp.		586
	2	Hercules Technology Growth		16
	6	Knight Capital Group, Inc. (D)		90
	1	Kohlberg Capital Corp.		5
	4	LaBranche & Co., Inc. (D)		18
	7	MCG Capital Corp.		5
	3	Nelnet, Inc.		37
	6	Newstar Financial, Inc. (D)		24
	4	NGP Capital Resources Co.		32
	4	PennantPark Investment Corp.		13
	1	Penson Worldwide, Inc. (D)		7
	2	PHH Corp. (D)		22
	2	Pico Holdings, Inc. (D)		56
	—	Prospect Capital Corp.		1
	1	Stifel Financial (D)		50
	—	SWS Group, Inc.		8
	—	Westwood Holdings Group, Inc.		3

				1,967

		Energy — 4.1%
	—	Allis-Chalmers Energy, Inc. (D)		2
	2	Bill Barrett Corp. (D)		36
	1	Brigham Exploration Co. (D)		3
	2	Callon Petroleum Corp. (D)		4
	1	Complete Production Services, Inc. (D)		9
	1	GMX Resources, Inc (D)		15
	1	Gulfmark Offshore, Inc. (D)		31
	2	Harvest Natural Resources, Inc. (D)		8
	2	Hornbeck Offshore Services, Inc. (D)		28
	8	Meridian Resource Corp. (D)		5
	3	Newpark Resources, Inc. (D)		11
	12	Oceaneering International, Inc. (D)		350
	3	Parker Drilling Co. (D)		10
	—	PetroQuest Energy, Inc. (D)		2
	—	PHI, Inc. (D)		3
	7	Pioneer Drilling Co. (D)		37
	41	Quicksilver Resources, Inc. (D)		228
	6	Rosetta Resources, Inc. (D)		42
	3	Stone Energy Corp. (D)		29
	2	Swift Energy Co. (D)		30
	36	TETRA Technologies, Inc. (D)		173
	1	Union Drilling, Inc. (D)		4
	4	Vaalco Energy, Inc. (D)		26
	38	World Fuel Services Corp.		1,424

				2,510

		Food & Staples Retailing — 0.4%
	4	Casey’s General Stores, Inc.		89
	1	Nash Finch Co.		49
	—	Pantry, Inc. (D)		9
	1	Ruddick Corp.		36
	1	Spartan Stores, Inc.		28
	1	Village Super Market, Inc.		29
	1	Winn-Dixie Stores, Inc. (D)		22

				262

		Food, Beverage & Tobacco — 2.3%
	1	Cal-Maine Foods, Inc.		26
	3	Chiquita Brands International, Inc. (D)		46
	1	Hain Celestial Group, Inc. (D)		9
	18	J&J Snack Foods Corp.		635
	1	National Beverage Co. (D)		11
	10	Ralcorp Holdings, Inc. (D)		619
	1	TreeHouse Foods, Inc. (D)		24
	2	Universal Corp.		45

				1,415

		Health Care Equipment & Services — 9.5%
	21	Advanced Medical Optics, Inc. (D)		135
	—	Alliance Imaging, Inc. (D)		3
	8	Amedisys, Inc. (D)		318
	2	Amerigroup Corp. (D)		62
	25	AMN Healthcare Services, Inc. (D)		211
	2	AmSurg Corp. (D)		40
	2	Assisted Living Concepts I-A (D)		8
	1	Cardiac Science Corp. (D)		10
	5	Centene Corp. (D)		95
	14	Chemed Corp.		557
	1	CONMED Corp. (D)		34
	10	Cooper Co., Inc.		156
	13	Emergency Medical Services (D)		464
	—	Five Star Quality Care, Inc. (D)		—
	—	Gentiva Health Services, Inc. (D)		3
	1	Greatbatch, Inc. (D)		29

The accompanying notes are an integral part of these financial statements.

142


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Health Care Equipment & Services — (continued)
	1	HealthSouth Corp. (D)	$	12
	5	Healthspring, Inc. (D)		104
	15	ICU Medical, Inc. (D)		481
	4	Invacare Corp.		67
	3	Kindred Healthcare, Inc. (D)		44
	17	Landauer, Inc.		1,239
	8	Magellan Health Services, Inc. (D)		317
	2	Molina Healthcare, Inc. (D)		32
	—	Odyssey HealthCare, Inc. (D)		4
	28	Owens & Minor, Inc.		1,050
	1	PharMerica Corp. (D)		22
	3	Rehabcare Group, Inc. (D)		39
	1	Universal American Financial Corp. (D)		11
	17	Young Innovations, Inc.		256

				5,803

		Household & Personal Products — 4.3%
	7	Central Garden & Pet Co. Class A (D)		43
	20	Chattem, Inc. (D)		1,402
	8	Prestige Brands Holdings, Inc. (D)		83
	39	WD40 Co.		1,098

				2,626

		Insurance — 3.7%
	9	AMBAC Financial Group, Inc.		11
	9	American Equity Investment Life Holding Co.		64
	1	American Physicians Capital, Inc.		58
	1	Amerisafe, Inc. (D)		12
	4	Amtrust Financial Services		44
	1	Argo Group International Holdings Ltd. (D)		42
	5	Aspen Insurance Holdings Ltd.		129
	4	Assured Guaranty Ltd.		46
	2	CNA Surety Corp. (D)		40
	5	Employers Holdings, Inc.		76
	5	Flagstone Reinsurance Holdings		48
	—	FPIC Insurance Group, Inc. (D)		4
	—	Greenlight Capital Re Ltd. Class A (D)		5
	—	Harleysville Group, Inc.		4
	39	Horace Mann Educators Corp.		350
	2	Infinity Property & Casualty Corp.		70
	3	IPC Holdings Ltd.		102
	1	Kansas City Life Insurance Co.		26
	—	Max Capital Group Ltd.		2
	7	Montpelier Re Holdings Ltd.		109
	4	National Financial Partners Corp.		12
	1	Navigators Group, Inc. (D)		49
	—	Odyssey Re Holdings Corp.		16
	8	Phoenix Cos.		27
	3	Platinum Underwriters Holdings Ltd.		115
	3	PMA Capital Corp. Class A (D)		18
	2	ProAssurance Corp. (D)		111
	1	RLI Corp.		31
	1	Safety Insurance Group, Inc.		46
	3	Seabright Insurance Holdings (D)		38
	22	Selective Insurance Group		488
	1	Validus Holdings Ltd.		26
	1	Zenith National Insurance Corp.		16

				2,235

		Materials — 3.3%
	2	A. Schulman, Inc.		36
	30	Balchem Corp.		740
	7	Buckeye Technologies, Inc. (D)		25
	4	BWAY Holding Co. (D)		31
	—	Clearwater Paper Corp. (D)		—
	44	Glatfelter		404
	3	H.B. Fuller Co.		55
	2	Headwaters, Inc. (D)		16
	8	Hecla Mining Co. (D)		21
	2	Innophos Holdings, Inc.		34
	2	Minerals Technologies, Inc.		78
	19	Neenah Paper, Inc.		168
	6	Olin Corp.		114
	—	OM Group, Inc. (D)		6
	1	Rock Tenn Co. Class A		38
	2	Rockwood Holdings, Inc. (D)		23
	—	Royal Gold, Inc.		20
	—	RTI International Metals, Inc. (D)		1
	3	Sensient Technologies Corp.		67
	—	Silgan Holdings, Inc.		19
	1	Spartech Corp.		7
	—	Stepan Co.		9
	2	Stillwater Mining Co. (D)		9
	—	Universal Stainless & Alloy Products (D)		6
	3	W.R. Grace & Co. (D)		15
	1	Wausau Paper Corp.		13
	8	Worthington Industries, Inc.		88

				2,043

		Media — 0.7%
	2	A.H. Belo Corp. Class A		4
	1	Belo Corp. Class A		1
	15	Central European Media Enterprises Ltd. (D)		326
	3	Crown Media Holdings, Inc. (D)		9
	2	Journal Communications, Inc.		5
	3	Knology, Inc. (D)		18
	—	Lin TV Corp. (D)		—
	10	Mediacom Communications Corp. (D)		43
	1	R.H. Donnelley Corp. (D)		—
	5	RCN Corp. (D)		28
	1	RHI Entertainment, Inc. (D)		4

				438

		Pharmaceuticals, Biotechnology & Life Sciences — 1.2%
	2	Affymetrix, Inc. (D)		6
	—	Albany Molecular Research, Inc. (D)		2
	4	Bio-Rad Laboratories, Inc. Class A (D)		331
	5	Covance, Inc. (D)		230
	2	Emergent Biosolutions, Inc. (D)		47
	1	PharmaNet Development Group, Inc. (D)		1
	2	Valeant Pharmaceuticals International (D)		39
	7	ViroPharma, Inc. (D)		86

				742

		Real Estate — 4.0%
	—	Alexander’s, Inc.		25
	1	American Campus Communities, Inc.		10
	6	Anthracite Capital, Inc.		13
	9	Anworth Mortgage Asset Corp.		60
	10	Ashford Hospitality Trust, Inc.		11

The accompanying notes are an integral part of these financial statements.

143

Hartford SmallCap Value HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Real Estate — (continued)
	4	Associated Estates Realty	$	38
	3	Biomed Realty Trust, Inc.		32
	8	CapLease, Inc.		13
	6	Cedar Shopping Court		43
	—	Cogdell Spencer, Inc.		4
	2	Colonial Properties Trust		18
	1	Corporate Office Properties		37
	13	DCT Industrial Trust, Inc.		67
	11	Diamondrock Hospitality		55
	4	DuPont Fabros Technology, Inc.		9
	5	Education Realty Trust, Inc.		27
	29	Entertainment Properties Trust		849
	2	Extra Space Storage, Inc.		21
	6	Felcor Lodging Trust, Inc.		12
	4	First Industrial Realty Trust, Inc.		32
	4	First Potomac Realty Trust		34
	20	Friedman Billings Ramsey Group, Inc. (D)		3
	3	Getty Realty Corp.		55
	7	Glimcher Realty Trust		19
	4	Gramercy Capital Corp.		5
	1	Healthcare Realty Trust, Inc.		21
	8	Hersha Hospitality Trust		24
	4	Highwoods Properties, Inc.		115
	—	Home Properties of New York, Inc.		4
	1	JER Investors Trust, Inc.		1
	3	LaSalle Hotel Properties		38
	7	Lexington Realty Trust		36
	7	Medical Properties Trust, Inc.		42
	14	MFA Mortgage Investments, Inc.		82
	2	Mid-America Apartment Communities, Inc.		56
	1	National Health Investors, Inc.		25
	5	National Retail Properties, Inc.		86
	1	Newcastle Investment Corp.		1
	4	Northstar Realty Finance Corp.		14
	1	Omega Healthcare Investors		11
	2	Parkway Properties, Inc.		38
	4	Penn Real Estate Investment Trust		28
	—	Post Properties, Inc.		3
	—	Potlatch Corp.		5
	1	PS Business Parks, Inc.		54
	11	RAIT Financial Trust		27
	3	Realty Income Corp.		67
	1	Redwood Trust, Inc.		9
	7	Resource Capital Corp.		26
	3	Senior Housing Properties Trust		52
	10	Strategic Hotels & Resorts, Inc.		16
	5	Sunstone Hotel Investors, Inc.		32
	7	U-Store-It		32

				2,437

		Retailing — 2.0%
	2	Aaron Rents, Inc.		61
	6	Blockbuster, Inc. Class A (D)		7
	91	Borders Group, Inc.		36
	1	Brown Shoe Co., Inc.		9
	1	Build-A-Bear Workshop, Inc. (D)		5
	5	Cato Corp.		74
	—	Charming Shoppes, Inc. (D)		1
	6	Chico’s FAS, Inc. (D)		25
	1	Children’s Place Retail Stores, Inc. (D)		20
	1	Collective Brands, Inc. (D)		9
	—	Conns, Inc. (D)		1
	—	Core-Mark Holding Co., Inc. (D)		9
	5	Dress Barn, Inc. (D)		53
	1	Genesco, Inc. (D)		22
	18	Group 1 Automotive, Inc.		194
	13	Gymboree Corp. (D)		339
	5	Hot Topic, Inc. (D)		45
	3	Jo-Ann Stores, Inc. (D)		48
	—	JOS A. Bank Clothiers, Inc. (D)		10
	3	Men’s Wearhouse, Inc.		41
	—	Monroe Muffler, Inc.		10
	7	New York & Co., Inc. (D)		17
	1	Pep Boys-Manny Moe & Jack		2
	5	Rent-A-Center, Inc. (D)		95
	5	Retail Ventures, Inc. (D)		18
	1	Shoe Carnival, Inc. (D)		13
	2	Systemax, Inc.		17
	1	Tractor Supply Co. (D)		43

				1,224

		Semiconductors & Semiconductor Equipment — 1.7%
	3	Actel Corp. (D)		34
	8	Amkor Technology, Inc. (D)		17
	6	Applied Micro Circuits Corp. (D)		24
	2	Brooks Automation, Inc. (D)		11
	2	Cirrus Logic, Inc. (D)		5
	2	Cymer, Inc. (D)		35
	201	Entegris, Inc. (D)		439
	1	IXYS Corp.		10
	1	LTX — Credence Corp. (D)		—
	4	MKS Instruments, Inc. (D)		56
	6	OmniVision Technologies, Inc. (D)		34
	1	Photronics, Inc. (D)		1
	4	RF Micro Devices, Inc. (D)		3
	25	Silicon Storage Technology, Inc. (D)		56
	3	Skyworks Solutions, Inc. (D)		18
	18	Spansion, Inc. (D)		3
	—	Standard Microsystems Corp. (D)		2
	2	TriQuint Semiconductor, Inc. (D)		6
	15	Varian Semiconductor Equipment Associates, Inc. (D)		272
	2	Zoran Corp. (D)		14

				1,040

		Services — 0.0%
	3	Live Nation, Inc. (D)		14
		Software & Services — 6.9%
	12	Acxiom Corp.		95
	7	CACI International, Inc. Class A (D)		329
	3	Cass Information Systems, Inc.		94
	4	CIBER, Inc. (D)		21
	18	Computer Services, Inc.		414
	3	CSG Systems International, Inc. (D)		59
	33	DealerTrack Holdings, Inc. (D)		392
	2	Fair Isaac, Inc.		34
	2	Global Cash Access, Inc. (D)		4

The accompanying notes are an integral part of these financial statements.

144


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Software & Services — (continued)
	3	Infospace, Inc.	$	24
	1	Internap Network Services Corp. (D)		3
	2	Interwoven, Inc. (D)		24
	5	JDA Software Group, Inc. (D)		60
	1	Kenexa Corp. (D)		7
	1	Limelight Networks, Inc. (D)		4
	1	MAXIMUS, Inc.		32
	1	ModusLink Global Solutions, Inc. (D)		3
	40	MSC.Software Corp. (D)		264
	2	Ness Technologies, Inc. (D)		7
	5	OpenTV Corp. (D)		6
	1	Parametric Technology Corp. (D)		6
	6	Perot Systems Corp. Class A (D)		77
	2	Progress Software Corp. (D)		44
	—	Quest Software, Inc. (D)		1
	11	Solera Holdings, Inc. (D)		265
	3	Sybase, Inc. (D)		84
	51	Syntel, Inc.		1,179
	16	Tibco Software, Inc. (D)		85
	122	Unisys Corp. (D)		104
	4	United Online, Inc.		23
	90	VeriFone Holdings, Inc. (D)		441
	1	Vignette Corp. (D)		6

				4,191

		Technology Hardware & Equipment — 3.3%
	14	3Com Corp. (D)		32
	—	Adaptec, Inc. (D)		1
	—	ADTRAN, Inc.		3
	—	Anaren Microwave, Inc. (D)		4
	2	Arris Group, Inc. (D)		19
	28	Avid Technology, Inc. (D)		300
	2	Avocent Corp. (D)		38
	8	Benchmark Electronics, Inc. (D)		103
	1	Black Box Corp.		37
	4	Checkpoint Systems, Inc. (D)		38
	4	Coherent, Inc. (D)		86
	4	CTS Corp.		20
	—	Digi International, Inc. (D)		1
	33	Electronics for Imaging, Inc. (D)		316
	6	Emulex Corp. (D)		43
	3	Harris Stratex Networks Class A (D)		13
	2	Hutchinson Technology, Inc. (D)		6
	1	Hypercom Corp. (D)		1
	3	Imation Corp.		35
	4	Insight Enterprises, Inc. (D)		24
	39	Jabil Circuit, Inc.		260
	1	Measurement Specialties, Inc. (D)		8
	3	Methode Electronics, Inc.		22
	—	MTS Systems Corp.		5
	—	NETGEAR, Inc. (D)		2
	1	Park Electrochemical Corp.		9
	6	PC-Tel, Inc.		36
	5	Plantronics, Inc.		66
	19	Plexus Corp. (D)		322
	—	Polycom, Inc. (D)		3
	1	Powerwave Technologies, Inc. (D)		—
	13	Quantum Corp. (D)		5
	3	Rackable Systems, Inc. (D)		10
	3	Rogers Corp. (D)		69
	41	Sanmina-Sci Corp. (D)		19
	4	Symmetricom, Inc. (D)		16
	3	Tekelec (D)		44
	4	TTM Technologies, Inc. (D)		19

				2,035

		Telecommunication Services — 1.1%
	21	Cincinnati Bell, Inc. (D)		41
	49	General Communication, Inc. Class A (D)		392
	1	Global Crossing Ltd. (D)		10
	1	ICO Global Communications Holdings Ltd. (D)		1
	15	iPCS, Inc. (D)		100
	4	Premiere Global Services, Inc. (D)		30
	—	Shenandoah Telecommunications Co.		6
	3	Syniverse Holdings, Inc. (D)		34
	2	USA Mobility, Inc.		28

				642

		Transportation — 4.4%
	3	Alaska Air Group, Inc. (D)		82
	—	Amerco, Inc. (D)		7
	2	Arkansas Best Corp.		60
	4	Celadon Group, Inc. (D)		32
	21	Forward Air Corp.		510
	1	Genesee & Wyoming, Inc. Class A (D)		18
	4	Hawaiian Holdings, Inc. (D)		24
	3	Heartland Express, Inc.		46
	7	JetBlue Airways Corp. (D)		53
	41	Landstar System, Inc.		1,568
	1	Marten Transport Ltd. (D)		23
	—	Old Dominion Freight Line, Inc. (D)		9
	3	Pacer International, Inc.		35
	2	Republic Airways Holdings, Inc. (D)		23
	2	Saia, Inc. (D)		20
	4	SkyWest, Inc.		74
	—	UAL Corp.		3
	4	US Airways Group, Inc. (D)		29
	3	Werner Enterprises, Inc.		57
	2	YRC Worldwide, Inc. (D)		6

				2,679

		Utilities — 2.5%
	1	Allete, Inc.		26
	—	American States Water		7
	6	Avista Corp.		116
	1	California Water Service Group		51
	—	Central Vermont Public Service Corp.		7
	1	CH Energy Group		26
	1	Chesapeake Utilities Corp.		31
	4	Cleco Corp.		98
	24	El Paso Electric Co. (D)		432
	2	IDACORP, Inc.		65
	1	Laclede Group, Inc.		23
	—	MGE Energy, Inc.		10
	—	Middlesex Water Co.		3
	—	Nicor, Inc.		7
	2	Northwest Natural Gas Co.		97
	1	Piedmont Natural Gas		29
	6	Portland General Electric Co.		119
	1	South Jersey Industries, Inc.		44

The accompanying notes are an integral part of these financial statements.

145

Hartford SmallCap Value HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Utilities — (continued)
	5	Southwest Gas Corp.			$	124
	2	UIL Holdings Corp.				57
	2	Westar Energy, Inc.				45
	4	WGL Holdings, Inc.				131

						1,548

		Total common stock (cost $76,622)			$	57,179


PREFERRED STOCK — 0.5%
		Banks — 0.5%
	—	East West Bancorp, Inc. 8.00% (H)(X)			$	326

		Total preferred stock (cost $302)			$	326

		Total long-term investments (cost $76,924)			$	57,505


SHORT-TERM INVESTMENTS — 4.6%
		Investment Pools and Funds — 4.6%
	390	Federated Investors Prime Obligations Fund				390
	2,411	State Street Bank Money Market Fund				2,411

		Total short-term investments (cost $2,801)			$	2,801

		Total investments (cost $79,725) (C)	98.7	%	$	60,306
		Other assets and liabilities	1.3	%		785

		Total net assets	100.0	%	$	61,091


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 0.10% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $80,219 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	2,616
Unrealized Depreciation		(22,529	)

Net Unrealized Depreciation	$	(19,913	)


(D)		Currently non-income producing.

(X)		Convertible security.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period				Cost
Acquired	Shares		Security	Basis

04/2008		—	East West Bancorp, Inc. — Preferred	$	302
03/2006 –
05/2006		26	Huttig Building Products, Inc.		228


		The aggregate value of these securities at December 31, 2008 was $338 which represents 0.55% of total net assets.

Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

Russell 2000 Mini

Long

Mar 2009


		* The number of contracts does not omit 000’s.

		Cash of $55 was pledged as initial margin deposit for open futures contracts at December 31,2008.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

146

Hartford Stock HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 99.3%
		Automobiles & Components — 0.5%
	475	Honda Motor Co., Ltd.	$	10,098
		Banks — 4.4%
	633	Banco Itau Holding Financeira S.A. ADR		7,341
	4,038	National City Corp.		7,308
	500	Standard Chartered plc		6,488
	3,669	Washington Mutual, Inc. Private Placement (A)(H)		71
	2,416	Wells Fargo & Co.		71,235

				92,443

		Capital Goods — 5.1%
	403	Cummins, Inc.		10,783
	3,571	General Electric Co.		57,855
	583	Honeywell International, Inc.		19,153
	268	Siemens AG ADR		20,286

				108,077

		Commercial & Professional Services — 0.4%
	690	Monster Worldwide, Inc. (D)		8,343
		Diversified Financials — 11.7%
	548	Ameriprise Financial, Inc.		12,806
	2,791	Bank of America Corp.		39,302
	1,463	Citigroup, Inc.		9,818
	2,274	Discover Financial Services, Inc.		21,670
	470	Goldman Sachs Group, Inc.		39,646
	2,252	Invesco Ltd.		32,523
	2,177	JP Morgan Chase & Co.		68,625
	1,544	UBS AG ADR (D)		22,079

				246,469

		Energy — 13.6%
	627	Cameco Corp.		10,823
	193	Canadian Natural Resources Ltd. ADR		7,716
	289	Consol Energy, Inc.		8,245
	174	EnCana Corp.		8,064
	177	EOG Resources, Inc.		11,791
	887	Exxon Mobil Corp.		70,801
	802	Hess Corp.		43,014
	1,037	Marathon Oil Corp.		28,362
	1,202	OAO Gazprom Class S ADR		17,134
	179	Occidental Petroleum Corp.		10,756
	945	Petroleo Brasileiro S.A. ADR		23,138
	310	Reliance Industries GDR (I)		15,707
	230	Schlumberger Ltd.		9,749
	345	Suncor Energy, Inc. ADR		6,733
	359	XTO Energy, Inc.		12,662

				284,695

		Food & Staples Retailing — 4.8%
	1,183	Safeway, Inc.		28,120
	1,061	Supervalu, Inc.		15,497
	791	Walgreen Co.		19,517
	657	Wal-Mart Stores, Inc.		36,803

				99,937

		Food, Beverage & Tobacco — 3.4%
	4	Japan Tobacco, Inc.		11,822
	861	PepsiCo, Inc.		47,130
	487	Unilever N.V. NY Shares ADR		11,951

				70,903

		Health Care Equipment & Services — 4.7%
	79	Intuitive Surgical, Inc. (D)		10,083
	283	McKesson Corp.		10,941
	850	Medtronic, Inc.		26,701
	1,876	UnitedHealth Group, Inc.		49,912

				97,637

		Household & Personal Products — 0.5%
	170	Procter & Gamble Co.		10,497
		Insurance — 0.8%
	261	ACE Ltd.		13,837
	46	PartnerRe Ltd.		3,285

				17,122

		Materials — 3.1%
	865	Cliff’s Natural Resources, Inc.		22,158
	494	Freeport-McMoRan Copper & Gold, Inc.		12,068
	121	Monsanto Co.		8,498
	292	Potash Corp. of Saskatchewan, Inc.		21,366

				64,090

		Media — 5.1%
	3,062	Comcast Corp. Class A		51,678
	3,009	Time Warner, Inc.		30,269
	1,367	Viacom, Inc. Class B (D)		26,051

				107,998

		Pharmaceuticals, Biotechnology & Life Sciences — 11.3%
	274	AstraZeneca plc		11,365
	436	Bristol-Myers Squibb Co.		10,130
	490	Daiichi Sankyo Co., Ltd.		11,583
	35	Eisai Co., Ltd.		1,459
	2,489	Elan Corp. plc ADR (D)		14,936
	626	Eli Lilly & Co.		25,225
	611	Merck & Co., Inc.		18,587
	2,364	Schering-Plough Corp.		40,256
	927	Shionogi & Co., Ltd.		23,927
	392	UCB S.A.		12,850
	538	Vertex Pharmaceuticals, Inc. (D)		16,341
	1,364	Wyeth		51,164

				237,823

		Retailing — 5.6%
	440	Bed Bath & Beyond, Inc. (D)		11,172
	471	Best Buy Co., Inc.		13,247
	10,986	Buck Holdings L.P. (A)(D)(H)		10,579
	862	Kohl’s Corp. (D)		31,197
	593	Lowe’s Co., Inc.		12,756
	669	Nordstrom, Inc.		8,910
	1,619	Staples, Inc.		29,005

				116,866

		Semiconductors & Semiconductor Equipment — 4.5%
	2,059	Applied Materials, Inc.		20,857
	900	Lam Research Corp. (D)		19,160
	2,691	Maxim Integrated Products, Inc.		30,731
	1,557	Texas Instruments, Inc.		24,162

				94,910

		Software & Services — 6.1%
	344	Accenture Ltd. Class A		11,293
	1,643	Electronic Arts, Inc. (D)		26,354
	100	Google, Inc. (D)		30,889
	2,443	Microsoft Corp.		47,486
	898	Western Union Co.		12,884

				128,906

		Technology Hardware & Equipment — 8.0%
	437	Apple, Inc. (D)		37,324
	3,861	Cisco Systems, Inc. (D)		62,926
	2,499	Flextronics International Ltd. (D)		6,396
	1,157	NetApp, Inc. (D)		16,166
	902	Qualcomm, Inc.		32,326
	322	Research In Motion Ltd. (D)		13,067
	54	Seagate Technology		239

				168,444

The accompanying notes are an integral part of these financial statements.

147

Hartford Stock HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)

COMMON STOCK — (continued)
		Telecommunication Services — 1.3%
	1,767	MetroPCS Communications, Inc. (D)			$	26,243
		Transportation — 4.4%
	2,858	Delta Air Lines, Inc. (D)				32,757
	431	FedEx Corp.				27,655
	581	United Parcel Service, Inc. Class B				32,054

						92,466

		Total common stock (cost $3,111,147)			$	2,083,967


WARRANTS — 0.0%
		Banks — 0.0%
	459	Washington Mutual, Inc. Private Placement (A)(H)			$	—

		Total warrants (cost $— )			$	—

		Total long-term investments (cost $3,111,147)			$	2,083,967


Principal
Amount

SHORT-TERM INVESTMENTS — 0.4%
		Repurchase Agreements — 0.4%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $6, collateralized by U.S. Treasury Note 4.50%, 2009, value of $6)
$	6	0.03% dated 12/31/2008			$	6
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,657, collateralized by FNMA 5.00%, 2035 — 2038, value of $2,710)
	2,657	0.08% dated 12/31/2008				2,657
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $117, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $119)
	117	0.07% dated 12/31/2008				117
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,570, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $2,621)
	2,570	0.10% dated 12/31/2008				2,570
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,365, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $2,412)
	2,365	0.05% dated 12/31/2008				2,365
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $321, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $328)
	321	0.07% dated 12/31/2008				321

		Total short-term investments (cost $8,036)			$	8,036

		Total investments (cost $3,119,183) (C)	99.7	%	$	2,092,003
		Other assets and liabilities	0.3	%		6,655

		Total net assets	100.0	%	$	2,098,658


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 13.82% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $3,203,923 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	40,510
Unrealized Depreciation		(1,152,430	)

Net Unrealized Depreciation	$	(1,111,920	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $10,650, which represents 0.51% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $15,707, which represents 0.75% of total net assets.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
06/2007		10,986	Buck Holdings L.P.	$	10,997
04/2008		3,669	Washington Mutual, Inc. Private Placement		32,100
07/2008		459	Washington Mutual, Inc. Private Placement Warrants		—


		The aggregate value of these securities at December 31, 2008 was $10,650 which represents 0.51% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Japanese Yen (Sell)	$	1,241	$	1,245		01/05/09	$	4
Japanese Yen (Sell)		1,696		1,708		01/06/09		12
Japanese Yen (Sell)		1,877		1,886		01/07/09		9

							$	25


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

148

Hartford Total Return Bond HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 9.7%
		Finance — 9.7%
		Banc of America Commercial Mortgage, Inc.
$	83,058	4.52%, 09/11/2036 (H)(?)	$	1,082
		Banc of America Securities Automotive Trust
	5,880	4.49%, 02/18/2013 (H)		5,874
		Bayview Commercial Asset Trust
	47,108	7.00%, 07/25/2037 (H)(?)		3,651
	77,172	7.50%, 09/25/2037 (H)(?)		6,305
		Bayview Financial Acquisition Trust
	4,430	2.12%, 05/28/2037 (H)(L)		620
		Bear Stearns Commercial Mortgage Securities, Inc.
	57,397	4.07%, 07/11/2042 (H)(?)		1,213
	48,541	4.12%, 11/11/2041 (H)(?)		841
	14,400	4.83%, 11/11/2041		12,443
	9,595	5.33%, 02/11/2044		7,395
	10,765	5.74%, 09/11/2042 (L)		8,409
		CBA Commercial Small Balance Commercial Mortgage Class X1
	70,894	7.00%, 06/25/2038 (A)(H)(?)		5,217
		CBA Commercial Small Balance Commercial Mortgage Class X2
	40,958	7.00%, 07/25/2035 (A)(H)(?)		2,394
		Citigroup Commercial Mortgage Trust
	8,342	5.27%, 10/15/2049		7,868
	10,145	5.41%, 10/15/2049		7,564
	16,300	5.72%, 03/15/2049 (L)		12,781
		Citigroup Mortgage Loan Trust, Inc.
	—	0.00%, 01/25/2037 (A)(H)		—
	35,509	5.91%, 07/25/2037 (H)(L)		20,944
	11,375	6.10%, 12/10/2049 (L)		8,519
	1,387	12.00%, 01/25/2037 (A)(H)		42
		Countrywide Asset-Backed Certificates
	1,549	5.46%, 07/25/2035		714
		Countrywide Home Loans, Inc.
	40,005	6.00%, 10/25/2037 (H)		25,978
		Credit-Based Asset Servicing and Securitization
	3,136	0.74%, 05/25/2036 (H)(L)		1,266
	4,735	5.86%, 04/25/2037		2,518
		CS First Boston Mortgage Securities Corp.
	1,835	4.51%, 07/15/2037		1,688
		DB Master Finance LLC
	12,470	5.78%, 06/20/2031 (I)		9,252
		First Horizon Mortgage Pass-Through Trust
	51,522	5.83%, 05/25/2037 (H)(L)		28,360
		Ford Credit Floorplan Master Owner Trust
	9,400	1.37%, 06/15/2011 (H)(L)		9,075
		GE Business Loan Trust
	8,746	2.19%, 05/15/2034 (I)(L)		1,325
	210,181	6.14%, 05/15/2034 (H)(?)		885
		GMAC Commercial Mortgage Securities, Inc.
	12,000	4.86%, 12/10/2041		9,916
		Goldman Sachs Mortgage Securities Corp. II
	137,437	4.38%, 08/10/2038 (H)(?)		767
		Green Tree Financial Corp.
	1,192	7.24%, 06/15/2028		967
		Greenwich Capital Commercial Funding Corp.
	20,500	5.74%, 12/10/2049 (L)		15,305
	14,160	5.91%, 07/10/2038 (L)		11,051
		JP Morgan Automotive Receivable Trust
	1,675	12.85%, 03/15/2012 (A)(H)		596
		JP Morgan Chase Commercial Mortgage Securities Corp.
	585,231	4.82%, 08/12/2037 (?)		1,266
	19,980	5.18%, 12/15/2044 (L)		16,013
	14,643	5.42%, 01/15/2049		10,352
	435,647	5.42%, 05/12/2045 (?)		6,512
	15,900	5.47%, 04/15/2043 (L)		12,367
	20,090	5.54%, 12/12/2043 (L)		4,217
	6,956	5.83%, 02/15/2051		5,423
		LB-UBS Commercial Mortgage Trust
	4,750	5.45%, 11/15/2038 (L)		1,007
	11,890	5.48%, 11/15/2038 (L)		2,444
		Lehman Brothers Small Balance Commercial
	4,921	5.52%, 09/25/2030 (A)(H)		3,508
	5,180	5.62%, 09/25/2036 (H)		4,489
		Marlin Leasing Receivables LLC
	13,390	5.33%, 09/16/2013 (H)		12,910
		Merrill Lynch Mortgage Trust
	55,740	3.96%, 10/12/2041 (H)(?)		929
		Morgan Stanley Capital I
	9,180	4.97%, 04/14/2040		7,711
	8,865	5.65%, 12/15/2044		6,454
		Morgan Stanley Dean Witter Capital I
	19,046	0.01%, 08/25/2032 (A)(H)(?)		—
		Nationstar Home Equity Loan Trust
	211	9.97%, 03/25/2037 (H)(L)		6
		North Street Referenced Linked Notes
	3,900	4.52%, 08/01/2010 (H)(L)		2,028
		Option One Mortgage Loan Trust Class M6
	3,875	6.99%, 03/25/2037 (H)		366
		Option One Mortgage Loan Trust Class M7
	2,575	6.99%, 03/25/2037 (H)		205
		Option One Mortgage Loan Trust Class M8
	2,525	6.99%, 03/25/2037 (H)		175
		Popular ABS Mortgage Pass-Through Trust
	3,775	4.75%, 12/25/2034		3,104
	2,609	5.42%, 04/25/2035 (H)		1,952
		Renaissance Home Equity Loan Trust
	3,891	5.36%, 05/25/2035 (H)		2,341
	6,480	5.75%, 05/25/2036 (H)(L)		4,943
		Renaissance Home Equity Loan Trust Class M5
	4,300	7.00%, 09/25/2037 (H)		241
		Renaissance Home Equity Loan Trust Class M8
	5,375	7.00%, 09/25/2037 (H)		180
		Soundview NIM Trust
	369	0.00%, 12/25/2036 (D)(H)		9
		Swift Master Automotive Receivables Trust
	17,050	1.85%, 10/15/2012 (H)(L)		11,015

The accompanying notes are an integral part of these financial statements.

149

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)

ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — (continued)

		Finance — (continued)
		Wachovia Bank Commercial Mortgage Trust
$	47,086	3.65%, 02/15/2041 (H)(?)	$	703
	1,835	4.52%, 05/15/2044		1,672
	6,930	5.42%, 01/15/2045		6,025
	2,088,656	10.00%, 02/15/2051 (H)(?)		2,359
		Wamu Commercial Mortgage Securities Trust
	19,570	6.14%, 03/23/2045 (H)(L)		4,893
		Wells Fargo Alternative Loan Trust
	12,953	6.25%, 11/25/2037 (H)		6,715

		Total asset & commercial mortgage backed securities (cost $564,181)	$	377,359


CORPORATE BONDS: INVESTMENT GRADE — 36.8%
		Basic Materials — 0.2%
		Kimberly-Clark Corp.
$	4,418	7.50%, 11/01/2018	$	5,203
		Rohm & Haas Holdings
	3,799	5.60%, 03/15/2013		3,668

				8,871

		Capital Goods — 0.9%
		Caterpillar, Inc.
	2,226	8.25%, 12/15/2038		2,744
		United Technologies Corp.
	12,025	6.13%, 02/01/2019		12,865
		Xerox Corp.
	23,590	6.35%, 05/15/2018		18,450

				34,059

		Consumer Cyclical — 1.5%
		Altria Group, Inc.
	14,632	9.70%, 11/10/2018		15,815
		CRH America, Inc.
	4,380	8.13%, 07/15/2018		3,162
		Home Depot, Inc.
	3,995	5.88%, 12/16/2036		3,133
		Kroger Co.
	7,830	6.15%, 01/15/2020		7,725
		SABMiller plc
	6,725	5.70%, 01/15/2014 (I)		6,200
		Safeway, Inc.
	5,972	5.80%, 08/15/2012		5,937
	3,287	6.25%, 03/15/2014		3,304
		Tesco plc
	11,806	5.50%, 11/15/2017 (I)		10,944
		Wal-Mart Stores, Inc.
	3,148	6.50%, 08/15/2037		3,738

				59,958

		Consumer Staples — 1.8%
		Clorox Co.
	2,340	5.95%, 10/15/2017		2,214
		Diageo Capital plc
	8,925	5.50%, 09/30/2016		8,555
		Diageo Finance B.V.
	5,300	5.30%, 10/28/2015		5,102
	11,414	5.50%, 04/01/2013		11,348
		General Mills, Inc.
	5,870	5.70%, 02/15/2017		5,900
		PepsiCo, Inc.
	20,474	7.90%, 11/01/2018		25,094
		Philip Morris International, Inc.
	10,050	6.88%, 03/17/2014		10,562

				68,775

		Energy — 1.8%
		Canadian National Resources Ltd.
	1,689	6.25%, 03/15/2038		1,328
	10,165	6.50%, 02/15/2037		8,298
		Consumers Energy Co.
	4,000	5.15%, 02/15/2017		3,747
	5,190	5.38%, 04/15/2013		5,108
		Enterprise Products Operations LLC
	8,848	6.50%, 01/31/2019		7,444
		Petro-Canada
	12,815	5.95%, 05/15/2035		8,814
		Ras Laffan Liquefied Natural Gas Co., Ltd.
	946	3.44%, 09/15/2009 (I)		892
	16,410	5.30%, 09/30/2020 (I)		11,692
		Sempra Energy
	9,495	9.80%, 02/15/2019		10,593
		Shell International Finance B.V.
	9,560	6.38%, 12/15/2038		10,755
		TNK-BP Finance S.A.
	4,000	7.50%, 03/13/2013 (I)		2,480

				71,151

		Finance — 12.2%
		ABX Financing Co.
	10,013	6.35%, 10/15/2036 (I)		7,792
		American Capital Strategies Ltd.
	10,577	6.85%, 08/01/2012		4,428
		American Express Co.
	8,385	5.50%, 04/16/2013		7,943
	8,587	5.55%, 10/17/2012		8,157
		American Real Estate Partners L.P.
	5,055	7.13%, 02/15/2013		3,488
		Americo Life, Inc.
	75	7.88%, 05/01/2013 (H)		71
		Amvescap plc
	18,030	4.50%, 12/15/2009		16,951
	3,544	5.38%, 02/27/2013		3,148
		Army Hawaii Family Housing Trust Certificates
	5,370	5.52%, 06/15/2050 (I)		3,694
		BAE Systems Holdings, Inc.
	10,204	5.20%, 08/15/2015 (I)		9,492
		Bank of America Corp.
	12,600	5.65%, 05/01/2018		12,675
	8,674	8.00%, 01/30/2018 (L)		6,239
		Bank of New York Institutional Capital Trust
	200	7.78%, 12/01/2026 (I)		179
		Berkshire Hathaway Finance Corp.
	5,454	4.60%, 05/15/2013		5,454
	5,023	5.00%, 08/15/2013		5,110
		BP Capital Markets plc
	17,750	5.25%, 11/07/2013		18,530
		Centura Capital Trust I
	250	8.85%, 06/01/2027 (H)		266

The accompanying notes are an integral part of these financial statements.

150


Principal			Market
Amount (B)			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Finance — (continued)
		CIT Group, Inc.
	1,353	6.10%, 03/15/2067 (L)	$	418
		Citigroup, Inc.
	11,515	8.30%, 12/21/2057 (L)		8,881
	8,523	8.40%, 04/30/2018 (L)(CC)		5,628
		Comerica Capital Trust II
	9,096	6.58%, 02/20/2037 (L)		3,652
		Corpoacion Andina De Fomento
	1,020	5.20%, 05/21/2013		908
	880	5.75%, 01/12/2017		736
		COX Communications, Inc.
	10,240	5.45%, 12/15/2014		8,955
	9,020	6.25%, 06/01/2018 (I)		8,006
		Credit Agricole S.A.
	18,461	6.64%, 05/31/2017 (I)(L)(CC)		8,268
		Credit Suisse New York
	6,228	6.00%, 02/15/2018		5,719
		Deutsche Bank AG London
	8,129	4.88%, 05/20/2013		7,981
		Duke Capital LLC
	8,489	6.25%, 02/15/2013		8,077
		ERAC USA Finance Co.
	7,300	5.60%, 05/01/2015 (I)		5,385
		General Electric Capital Corp.
	7,090	5.63%, 05/01/2018		7,141
	18,350	6.37%, 11/15/2067 (L)		11,534
		Goldman Sachs Capital Trust II
	20,041	5.79%, 06/01/2012 (L)(CC)		7,704
		International Lease Finance Corp.
	5,385	6.38%, 03/25/2013		3,658
		Janus Capital Group, Inc.
	18,425	6.70%, 06/15/2017		13,733
		JP Morgan Chase & Co.
	15,343	7.90%, 04/30/2018 (CC)		12,763
		Lincoln National Corp.
	16,423	6.05%, 04/20/2067		6,569
		MBNA America Bank N.A.
	14,400	7.13%, 11/15/2012 (I)		14,724
		Mellon Capital IV
	13,374	6.24%, 06/20/2012 (L)(CC)		8,206
		National City Bank of Ohio
	1,100	4.50%, 03/15/2010		1,059
		National City Corp.
	14,683	12.00%, 12/10/2012 (CC)		13,701
		Northgroup Preferred Capital Corp.
	11,208	6.38%, 10/15/2017 (H)(L)(CC)		5,277
		NYSE Euronext
	7,596	4.80%, 06/28/2013		7,368
		Oesterreichische Kontrollbank AG
JPY	4,380,000	1.80%, 03/22/2010		48,938
		PNC Preferred Funding Trust II
	27,800	6.11%, 03/15/2012 (I)(L)(CC)		11,480
		Progressive Corp.
	14,845	6.70%, 06/15/2037 (L)		7,297
		Prudential Financial, Inc.
	11,837	5.15%, 01/15/2013		9,615
	18,313	8.88%, 06/15/2038 (L)		11,798
		Prudential Holdings LLC
	200	7.25%, 12/18/2023 (I)		202
		RBS Capital Trust IV
	18,375	2.26%, 09/30/2014 (L)(CC)		6,902
		Rio Tinto Finance USA Ltd.
	25,650	5.88%, 07/15/2013		20,430
		State Street Capital Trust III
	7,434	8.25%, 03/15/2011 (L)(CC)		5,743
		Travelers Cos, Inc.
	5,473	6.25%, 03/15/2037 (L)		3,585
		Unicredito Italiano Capital Trust
	7,260	9.20%, 10/05/2010 (I)(CC)		2,777
		Unicredito Luxembourg Finance S.A.
	11,690	6.00%, 10/31/2017 (I)		9,747
		UnitedHealth Group, Inc.
	11,678	4.88%, 02/15/2013		10,903
		US Bank Realty Corp.
	13,200	6.09%, 01/15/2012 (I)(L)(CC)		5,511
		USB Capital IX
	4,392	6.19%, 04/15/2011 (L)(CC)		2,064
		VTB Capital S.A.
	1,820	6.61%, 10/31/2012 (K)		1,269
		Wells Fargo Capital XIII
	14,530	7.70%, 03/26/2013 (L)(CC)		11,992
		Westfield Group
	5,166	5.70%, 10/01/2016 (I)		3,451
		ZFS Finance USA Trust I
	12,670	6.50%, 05/09/2037 (I)(L)		5,195

				478,567

		Foreign Governments — 5.4%
		Bundesobligation
EUR	59,110	3.50%, 04/12/2013		86,313
		El Salvador (Republic of)
	1,220	7.65%, 06/15/2035 (H)		775
	2,330	8.50%, 07/25/2011 (H)		2,249
		France (Govt. of) O.A.T.
EUR	29,450	4.25%, 10/25/2018		44,008
		United Kingdom Treasury
GBP	46,978	4.50%, 03/07/2019		75,893

				209,238

		Health Care — 1.0%
		Cardinal Health, Inc.
	8,417	5.50%, 06/15/2013		7,957
		Covidien International Finance S.A.
	4,804	5.45%, 10/15/2012		4,700
		CVS Caremark Corp.
	18,166	6.30%, 06/01/2037 (L)		9,265
		Glaxosmithkline Capital, Inc.
	10,185	4.85%, 05/15/2013		10,216
	4,924	6.38%, 05/15/2038		5,563

				37,701

		Services — 1.1%
		Comcast Corp.
	161	6.30%, 11/15/2017		157
	4,620	6.50%, 01/15/2015		4,541
	100	10.63%, 07/15/2012		106
		News America, Inc.
	4,878	6.15%, 03/01/2037		4,551
		President & Fellows of Harvard
	6,144	6.00%, 01/15/2019 (I)		6,658
		Time Warner Entertainment Co., L.P.
	14,510	8.38%, 07/15/2033		14,643
		Time Warner, Inc.
	3,310	6.50%, 11/15/2036		3,001

The accompanying notes are an integral part of these financial statements.

151

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Services — (continued)
		Waste Management, Inc.
$	10,048	6.10%, 03/15/2018	$	8,691

				42,348

		Technology — 5.9%
		Agilent Technologies, Inc.
	7,622	6.50%, 11/01/2017		5,239
		AT&T, Inc.
	11,419	4.95%, 01/15/2013		11,482
	18,575	5.50%, 02/01/2018		18,772
	3,865	5.60%, 05/15/2018		3,935
		Cingular Wireless Services, Inc.
	12,600	8.75%, 03/01/2031		15,751
		Comcast Cable Communications, Inc.
	500	8.50%, 05/01/2027		564
		Deutsche Telekom International Finance B.V.
	14,935	6.75%, 08/20/2018		15,144
		Embarq Corp.
	11,532	7.08%, 06/01/2016		8,880
		GTE Corp.
	165	8.75%, 11/01/2021		178
		IBM Corp.
	13,725	6.50%, 10/15/2013		15,046
		Koninklijke Philips Electronics N.V.
	12,942	5.75%, 03/11/2018		11,924
		Oracle Corp.
	13,836	6.50%, 04/15/2038		15,233
		Rogers Cable, Inc.
	2,675	8.75%, 05/01/2032		2,801
		Rogers Communications, Inc.
	12,568	6.80%, 08/15/2018		12,699
		Rogers Wireless, Inc.
	4,277	6.38%, 03/01/2014		4,066
		TCI Communications, Inc.
	4,025	8.75%, 08/01/2015		4,285
		Telecom Italia Capital
	16,958	7.72%, 06/04/2038		13,927
		Tele-Communications, Inc.
	7,975	7.88%, 08/01/2013		8,200
		Tyco Electronics Group S.A.
	5,710	6.00%, 10/01/2012		5,151
	5,995	6.55%, 10/01/2017		5,038
		Verizon Communications, Inc.
	7,400	6.90%, 04/15/2038		8,327
	9,850	8.75%, 11/01/2018		11,556
		Verizon Maryland, Inc.
	1,500	8.30%, 08/01/2031		1,387
		Verizon Virginia, Inc.
	13,805	4.63%, 03/15/2013		12,354
		Verizon Wireless
	7,500	8.50%, 11/15/2018 (I)		8,788
		Vodafone Group plc
	10,479	6.15%, 02/27/2037		10,358

				231,085

		Transportation — 1.0%
		Canadian Pacific Railway Co.
	3,613	5.75%, 05/15/2013		3,344
	7,075	5.95%, 05/15/2037		4,989
		Continental Airlines, Inc.
	4,178	6.70%, 06/15/2021		3,133
	4,271	8.05%, 11/01/2020		3,417
		CSX Corp.
	6,561	6.75%, 03/15/2011		6,535
		General Dynamics Corp.
	8,149	5.25%, 02/01/2014		8,351
		Norfolk Southern Corp.
	3,925	5.75%, 04/01/2018		3,819
		Union Pacific Corp.
	5,294	5.70%, 08/15/2018		5,097

				38,685

		Utilities — 4.0%
		CenterPoint Energy Resources Corp.
	10,950	6.13%, 11/01/2017		9,207
	2,763	6.63%, 11/01/2037		2,050
		CenterPoint Energy, Inc.
	7,475	6.85%, 06/01/2015		6,738
		Commonwealth Edison Co.
	5,836	5.80%, 03/15/2018		5,275
		Detroit Edison Co.
	3,875	6.13%, 10/01/2010		3,897
		Duke Energy Corp.
	4,726	5.25%, 01/15/2018		4,828
	3,709	6.35%, 08/15/2038		4,175
	3,960	7.00%, 11/15/2018		4,570
		E.On International Finance
	6,092	5.80%, 04/30/2018 (I)		5,696
		Enbridge Energy Partners
	6,654	6.50%, 04/15/2018		5,476
		Florida Power Corp.
	3,211	5.80%, 09/15/2017		3,355
		Kinder Morgan Energy Partners L.P.
	4,720	6.50%, 02/01/2037		3,604
		NGPL Pipeco LLC
	9,472	6.51%, 12/15/2012 (I)		8,989
		Northeast Utilities
	4,375	5.65%, 06/01/2013		4,084
		Northern States Power Co.
	5,735	6.25%, 06/01/2036		6,056
		Pacific Gas & Electric Co.
	5,711	5.63%, 11/30/2017		5,849
		Pacific Gas & Electric Energy Recovery Funding LLC
	6,208	8.25%, 10/15/2018		7,459
		PSEG Power
	4,534	5.00%, 04/01/2014		4,068
		Public Service Co. of Colorado
	8,577	6.50%, 08/01/2038		9,569
		Puget Sound Energy, Inc.
	3,190	7.96%, 02/22/2010		3,249
		Southern California Edison Co.
	13,602	5.75%, 03/15/2014		14,254
		Taqa Abu Dhabi National Energy Co.
	13,525	5.62%, 10/25/2012 (I)		12,273
		TransCanada Pipelines Ltd.
	15,386	7.25%, 08/15/2038		15,316
		Virginia Electric & Power Co.
	6,327	5.10%, 11/30/2012		6,185

The accompanying notes are an integral part of these financial statements.

152


Principal			Market
Amount (B)			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Utilities — (continued)
		Westar Energy, Inc.
	1,400	5.15%, 01/01/2017	$	1,236
				157,458

		Total corporate bonds: investment grade (cost $1,615,819)	$	1,437,896


CORPORATE BONDS: NON-INVESTMENT GRADE — 2.7%
		Basic Materials — 0.4%
		Evraz Group S.A.
$	1,700	8.88%, 04/24/2013 (I)	$	867
		Potlatch Corp.
	12,100	13.00%, 12/01/2009 (H)(L)		12,805
		Vedanta Resources plc
	3,400	8.75%, 01/15/2014 (I)		2,040

				15,712

		Capital Goods — 0.1%
		Bombardier, Inc.
	3,895	6.30%, 05/01/2014 (I)		3,204
		Consumer Cyclical — 0.2%
		Parkson Retail Group Ltd.
	3,400	7.88%, 11/14/2011		2,278
		Supervalu, Inc.
	7,055	7.50%, 11/15/2014		5,785

				8,063

		Consumer Staples — 0.1%
		Arantes International
	3,300	10.25%, 06/19/2013 (H)		825
		MHP S.A.
	4,235	10.25%, 11/30/2011 (H)		1,652
		Sino-Forest Corp.
	1,994	9.13%, 08/17/2011 (K)		1,515

				3,992

		Energy — 0.2%
		Noble Group Ltd.
	2,600	6.63%, 03/17/2015 (I)		1,482
		Range Resources Corp.
	7,669	7.38%, 07/15/2013		6,691

				8,173

		Finance — 0.2%
		Citigroup (JSC Severstal)
	2,805	9.25%, 04/19/2014 (K)		1,402
		Drummond Co., Inc.
	2,865	7.38%, 02/15/2016 (H)		1,390
		LPL Holdings, Inc.
	4,475	10.75%, 12/15/2015 (H)		3,132
		Oceanografia S.A. de C.V.
	3,325	11.25%, 07/15/2015 (H)		1,729
		RBS-Zero Hora Editora Journalistica
BRL	4,100	11.25%, 06/15/2017 (H)		886
		Regional Diversified Funding
	96	9.25%, 03/15/2030 (I)		40
		TuranAlem Finance B.V.
	1,400	7.75%, 04/25/2013 (H)		588

				9,167

		Foreign Governments — 0.1%
		Argentina (Republic of)
	3,090	7.00%, 10/03/2015		897
		Venezuela (Republic of)
	2,890	5.06%, 04/20/2011 (K)(L)		1,763

				2,660

		Health Care — 0.2%
		HCA, Inc.
	8,635	9.25%, 11/15/2016		7,923
		Services — 0.2%
		Dex Media West LLC, Inc.
	1,275	9.88%, 08/15/2013		303
		DirecTV Holdings LLC
	6,015	7.63%, 05/15/2016		5,835
		Mashantucket Western Pequot Revenue Bond
	4,709	5.91%, 09/01/2021 (H)		1,547

				7,685

		Technology — 0.8%
		Advanced Micro Devices, Inc.
	9,270	6.00%, 05/01/2015 (I)(X)		2,642
		Charter Communications Operating LLC
	5,090	8.00%, 04/30/2012 (I)		4,174
		CSC Holdings, Inc.
	4,550	7.63%, 04/01/2011		4,288
		Intelsat Bermuda Ltd.
	8,670	9.25%, 06/15/2016 (H)		6,763
		Intelsat Corp.
	8,300	9.25%, 06/15/2016 (I)		7,553
		Vimpelcom
	4,100	8.38%, 04/30/2013 (I)		2,624
		Windstream Corp.
	4,410	8.63%, 08/01/2016		3,903

				31,947

		Transportation — 0.0%
		Grupo Senda Autotransporte
	2,310	10.50%, 10/03/2015 (H)		1,270
		Utilities — 0.2%
		AES El Savador Trust
	2,300	6.75%, 02/01/2016 (H)		1,640
		NRG Energy, Inc.
	4,255	7.25%, 02/01/2014		3,978
		Rede Empresas De Energia
	2,405	11.13%, 04/02/2012 (H)(CC)		1,034

				6,652

		Total corporate bonds: non-investment grade (cost $149,012)	$	106,448


MUNICIPAL BONDS — 0.2%
		General Obligations — 0.2%
		Oregon School Boards Association, Taxable Pension
$	7,325	4.76%, 06/30/2028	$	6,409
		Tax Allocation — 0.0%
		California Urban IDA
	275	6.10%, 05/01/2024		234

		Total municipal bonds (cost $7,605)	$	6,643

The accompanying notes are an integral part of these financial statements.

153

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)

SENIOR FLOATING RATE INTERESTS: INVESTMENT GRADE (V) — 0.4%
		Consumer Cyclical — 0.1%
		Delphi Corp.
$	3,820	7.25%, 03/15/2009 (F)(N)	$	2,063
		William Carter Co.
	4,232	3.32%, 07/14/2012 (N)		3,449

				5,512

		Consumer Staples — 0.2%
		WM Wrigley Jr. Co.
	6,275	7.75%, 08/12/2014 (N)		5,993
		Health Care — 0.1%
		Invitrogen Corp.
	4,127	5.25%, 09/30/2015 (N)		3,859
		Services — 0.0%
		CSC Holdings, Inc.
	2,003	2.95%, 03/29/2013 (N)		1,687

		Total senior floating rate interests: investment grade (cost $20,251)	$	17,051


SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — 3.3%
		Basic Materials — 0.6%
		Cenveo, Inc.
$	3,669	3.28%, 06/21/2013 — 03/16/2014 (N)	$	2,110
		Georgia-Pacific Corp.
	8,604	4.11%, 12/20/2012 (N)		7,034
		Goodyear Tire & Rubber Co.
	1,102	2.22%, 04/30/2014 (N)		696
		Graham Packaging Co., Inc.
	4,354	5.27%, 04/03/2014 (N)		3,144
		Hexion Specialty Chemicals
	2,888	5.50%, 05/05/2013 (N)		1,184
		Huntsman International LLC
	6,358	2.22%, 04/19/2014 (N)		3,917
		Ineos Group
	1,173	8.20%, 02/01/2013 (N)		498
	1,173	8.70%, 12/16/2014 (N)		501
		Jarden Corp.
	5,761	3.96%, 01/24/2012 (N)		4,387
		John Maneely Co.
	1,696	7.71%, 12/08/2013 (N)		920

				24,391

		Capital Goods — 0.0%
		Yankee Candle Co.
	2,575	3.40%, 02/06/2014 (N)		1,339
		Consumer Cyclical — 0.4%
		AM General LLC
	2,776	5.50%, 09/30/2013 (N)		1,804
		American General Finance Corp.
	115	0.96%, 09/30/2012 (N)		75
		Aramark Corp.
	211	2.47%, 01/26/2014 (N)		174
	3,433	3.33%, 01/26/2014 (N)		2,830
		Dollarama Group L.P.
	971	5.17%, 11/18/2011 (N)		777
		Ford Motor Co.
	13,738	5.00%, 12/16/2013 (N)		5,506
		Lear Corp.
	2,982	3.73%, 04/25/2012 (N)		1,352
		Roundy’s Supermarkets, Inc.
	3,642	4.41%, 11/03/2011 (N)		2,488

				15,006

		Consumer Staples — 0.0%
		Dole Food Co., Inc.
	407	2.71%, 04/12/2013 (N)		284
	230	4.69%, 04/12/2013 (N)		160
	1,518	4.70%, 04/12/2013 (N)		1,058

				1,502

		Energy — 0.0%
		Lyondell Chemical Co.
	3,522	7.00%, 12/22/2014 (F)(N)		1,585
		Finance — 0.2%
		Amerigroup Corp.
	840	2.50%, 03/26/2012 (N)(Q)		731
		Brickman Group Holdings, Inc.
	2,890	2.46%, 01/23/2014 (H)(N)		1,734
		Chrysler Financial Services NA
	2	6.00%, 08/03/2012 (N)		1
		Community Health Systems, Inc.
	275	3.40%, 07/25/2014 (N)(Q)		214
	5,376	4.45%, 07/25/2014 (N)		4,186
		Crescent Resources LLC
	5,385	3.96%, 09/07/2012 (H)(N)		902
		Golden Gate National
	2,687	3.21%, 03/14/2011 (N)		2,149

				9,917

		Health Care — 0.3%
		Carestream Health, Inc.
	1,012	5.42%, 04/30/2013 (N)		607
		HCA, Inc.
	4,456	3.71%, 11/17/2013 (N)		3,477
		HealthSouth Corp.
	1,945	4.70%, 03/10/2013 (N)		1,506
		IASIS Healthcare Capital Corp.
	188	0.37%, 03/17/2014 (N)		135
	2,730	2.46%, 01/15/2014 — 03/17/2014 (N)		1,954
		Skilled Healthcare Group, Inc.
	3,220	4.44%, 06/15/2012 (N)		2,254
		Vanguard Health Holdings Co. II LLC
	880	3.30%, 09/23/2011 (N)		720

				10,653

		Services — 0.7%
		Affinion Group, Inc.
	2,610	4.65%, 10/17/2012 (N)		1,749
		Cedar Fair L.P.
	2,326	2.46%, 07/21/2013 (N)		1,481
		Cengage
	927	2.96%, 07/05/2014 (N)		599
		Harrah’s Entertainment, Inc.
	1,689	6.53%, 01/28/2015 (N)		982
		Idearc, Inc.
	1,705	1.97%, 11/17/2013 (N)		560
	2,608	3.42%, 11/17/2014 (N)		792
		inVentiv Health, Inc.
	1,283	3.21%, 07/07/2014 (N)		1,010

The accompanying notes are an integral part of these financial statements.

154


Principal			Market
Amount			Value (W)


SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — (continued)

		Services — (continued)
		Metavante Corp.
$	2,992	4.94%, 11/01/2014 (N)	$	2,259
		MGM Mirage, Inc.
	3,311	3.05%, 10/03/2011 (H)(N)		1,788
		R.H. Donnelley, Inc.
	5,250	6.47%, 06/30/2011 (N)		2,953
		Regal Cinemas, Inc.
	3,739	3.21%, 10/27/2013 (N)		2,736
		SunGard Data Systems, Inc.
	4,388	4.02%, 02/28/2014 (N)		2,937
		UPC Financing Partnership
	1,703	3.18%, 12/31/2014 (N)		1,109
		Venetian Macau Ltd.
	194	2.72%, 05/25/2012 (N)		96
		Venetian Macau Ltd., Term Loan
	336	2.72%, 05/25/2013 (N)		166
		West Corp.
	3,401	3.47%, 10/24/2013 (N)		2,087
		WideOpenWest Finance LLC
	11,501	8.91%, 06/29/2015 (H)(N)		2,300

				25,604

		Technology — 0.6%
		Alltel Corp.
	3,167	4.37%, 05/18/2015 (N)		3,115
		Charter Communications Operating LLC
	2,638	5.06%, 04/28/2013 (N)		1,927
		Intelsat Bermuda Ltd., Tranche B2A
	1,846	6.65%, 01/03/2014 (N)		1,400
		Intelsat Bermuda Ltd., Tranche B2B
	1,846	6.65%, 01/03/2014 (N)		1,400
		Intelsat Bermuda Ltd., Tranche B2C
	1,846	6.65%, 01/03/2014 (N)		1,400
		Mediacom Broadband LLC
	3,690	2.20%, 01/31/2015 (N)		2,435
		Mediacom Broadband LLC, Term Loan D1
	5,939	2.20%, 01/31/2015 (N)		3,920
		MetroPCS Wireless, Inc.
	4,010	4.51%, 11/04/2013 (N)		3,225
		Time Warner Telecom Holdings, Inc.
	3,996	3.04%, 07/01/2013 (N)		3,032

				21,854

		Utilities — 0.5%
		Astoria Generating Co. Acquisitions LLC
	920	4.23%, 08/23/2013 (N)		611
		Calpine Corp.
	5,833	2.88%, 03/29/2014 (N)		4,285
		NRG Energy, Inc.
	2,863	1.36%, 02/01/2013 (N)		2,494
	5,813	2.67%, 06/08/2013 (N)		5,064
		Texas Competitive Electric Holdings Co. LLC
	3,160	5.36%, 10/12/2014 (N)		2,190
	4,631	5.58%, 10/10/2014 (N)		3,192

				17,836

		Total senior floating rate interests: non-investment grade (cost $197,742)	$	129,687


U.S. GOVERNMENT AGENCIES — 35.5%
		Federal Home Loan Mortgage Corporation — 12.5%
		Mortgage Backed Securities:
$	88,600	5.00%, 2038	$	90,639
	12,621	5.03%, 2035 (L)		12,691
	25,980	5.39%, 2037 (L)		26,389
	3,313	5.46%, 2036 (L)		3,388
	55,434	5.50%, 2018 — 2037		56,369
	4,729	5.82%, 2036 (L)		4,782
	94,328	6.00%, 2017 — 2038		97,377
	144,471	6.50%, 2031 — 2038		150,219
	8	7.50%, 2029 — 2031		9

				441,863

		Remic — Pac’s:
	47,165	5.00%, 2034		47,543

				489,406

		Federal National Mortgage Association — 18.8%
		Mortgage Backed Securities:
	6,415	4.67%, 2034 — 2035 (L)		6,468
	8,546	4.69%, 2035 (L)		8,615
	7,227	4.75%, 2035 (L)		7,287
	2,354	4.83%, 2035 (L)		2,389
	4,390	4.86%, 2035 (L)		4,391
	2,970	4.87%, 2035 (L)		2,994
	19,270	4.89%, 2036 (L)		19,451
	8,320	4.94%, 2035 (L)		8,390
	364,127	5.00%, 2018 — 2038		373,195
	6,251	5.07%, 2035 (L)		6,340
	117,055	5.50%, 2013 — 2037		119,919
	23,025	6.00%, 2012 — 2033		23,826
	137,887	6.50%, 2014 — 2038		143,384
	7,579	7.00%, 2016 — 2037		7,944
	987	7.50%, 2015 — 2032		1,048
	2	8.00%, 2032		2

				735,643

		Notes:
	250	6.08%, 2009 (L)		248

				735,891


		Government National Mortgage Association — 3.1%
		Mortgage Backed Securities:
	23,257	5.50%, 2033 — 2034		23,989
	75,714	6.00%, 2031 — 2037		78,109
	16,159	6.50%, 2028 — 2032		16,988
	50	7.00%, 2030 — 2031		52
	7	8.50%, 2024		8

				119,146


		Other Government Agencies — 1.1%
		Small Business Administration Participation Certificates:
	19,948	5.56%, 2027		20,663
	21,349	5.57%, 2027		22,040

				42,703

		Total U.S. government agencies (cost $1,352,672)	$	1,387,146

The accompanying notes are an integral part of these financial statements.

155

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)

U.S. GOVERNMENT SECURITIES — 3.8%
		U.S. Treasury Securities — 3.8%
		U.S. Treasury Bonds:
$	6,847	2.00%, 2013			$	7,025
	47,240	4.50%, 2038 #				64,475

						71,500

		U.S. Treasury Notes:
	76,640	1.50%, 2010				77,783

		Total U.S. government securities (cost $141,912)			$	149,283

Shares

COMMON STOCK — 0.0%
		Telecommunication Services — 0.0%
	—	XO Holdings, Inc. (D)			$	—

		Total common stock (cost $— )			$	—

WARRANTS — 0.0%
		Telecommunication Services — 0.0%
	—	XO Holdings, Inc. (D)(H)			$	—

		Total warrants (cost $— )			$	—

PREFERRED STOCK — 0.0%
		Banks — 0.0%
	330	Federal Home Loan Mortgage Corp.			$	129

		Total preferred stock (cost $8,270 )			$	129

		Total long term investments (cost $4,057,464 )			$	3,611,642

Principal
Amount

SHORT-TERM INVESTMENTS — 6.0%
		Consumer Staples — 0.3%
		PepsiCo, Inc.
$	11,500	0.15%, 01/15/2009 (I)			$	11,499
		Energy — 0.5%
		ConocoPhillips
	13,205	0.30%, 01/08/2009 (I)				13,204
	5,795	0.35%, 01/12/2009 (I)				5,795

						18,999

		Finance — 1.3%
		European Investment Bank
	38,000	0.47%, 03/12/2009				37,944
		Kreditanstalt fuer Wiederaufbau
	12,000	0.94%, 01/20/2009 (I)				11,998

						49,942

		Health Care — 0.2%
		Pfizer, Inc.
	8,050	0.55%, 03/05/2009				8,039

Shares

		Investment Pools and Funds — 2.6%
	51,263	JP Morgan U.S. Government Money Market Fund				51,263
	—	State Street Bank U.S. Government Money Market Fund				—
	50,000	Wells Fargo Advantage Government Money Market Fund				50,000

						101,263


Principal
Amount

		Repurchase Agreements — 0.5%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $11,137, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $11,247)
$	11,137	0.01% dated 12/31/2008				11,137
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $7,382, collateralized by U.S. Treasury Note 3.13%, 2013, value of $7,508)
	7,382	0.03% dated 12/31/2008				7,382
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,717, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $1,718)
	1,717	0.02% dated 12/31/2008				1,717

						20,236

		Technology — 0.5%
		AT&T, Inc.
	19,000	1.05%, 01/20/2009				18,995
		U.S. Treasury Bills — 0.1%
	6,600	0.81%, 01/15/2009 (M)(S)				6,600

		Total short-term investments (cost $235,594)			$	235,573

		Total investments (cost $4,293,058) (C)	98.4	%	$	3,847,215
		Other assets and liabilities	1.6	%		61,284

		Total net assets	100.0	%	$	3,908,499


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 15.35% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $4,294,378 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	90,752
Unrealized Depreciation		(537,915	)

Net Unrealized Depreciation	$	(447,163	)


#		This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.

The accompanying notes are an integral part of these financial statements.

156


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $11,757, which represents 0.30% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(CC)		Perpetual maturity security. Maturity date shown is the first call date.

(D)		Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.

(F)		The company is in bankruptcy. The investment held by the fund is not in default.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $248,214, which represents 6.35% of total net assets.

(K)		Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At December 31, 2008, the market value of these securities amounted to $5,949 or 0.15% of net assets.

(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(N)		The interest rate disclosed for these securities represents the average coupon as of December 31, 2008.

(?)		The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2008.

(Q)		The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2008 was $892.

(V)		Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate indicated is the rate in effect at December 31, 2008.

(X)		Convertible security.

(B)		All principal amounts are in U.S. dollars unless otherwise indicated.


BRL		— Brazilian Real
EUR		— Euro
GBP		— British Pound
JPY		— Japanese Yen


(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares/Par		Security	Cost Basis
06/2008	$	2,300	AES El Savador Trust, 6.75%, 02/01/2016 - Reg S	$	2,109
04/2003	$	75	Americo Life, Inc., 7.88%, 05/01/2013 - 144A		74
06/2008	$	3,300	Arantes International, 10.25%, 06/19/2013 - 144A		3,269
03/2005	$	83,058	Banc of America Commercial Mortgage, Inc., 4.52%, 09/11/2036 - 144A		1,115
08/2006	$	5,880	Banc of America Securities Automotive Trust, 4.49%, 02/18/2013		5,870
05/2007	$	47,108	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		6,715
08/2007	$	77,172	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		10,729
04/2007	$	4,430	Bayview Financial Acquisition Trust, 2.12%, 05/28/2037		4,430
10/2004	$	57,397	Bear Stearns Commercial Mortgage Securities, Inc., 4.07%, 07/11/2042		1,395
12/2004	$	48,541	Bear Stearns Commercial Mortgage Securities, Inc., 4.12%, 11/11/2041		983
04/2008	$	2,890	Brickman Group Holdings, Inc., 2.46%, 01/23/2014		2,680
04/2006 – 08/2007	$	70,894	CBA Commercial Small Balance Commercial Mortgage Class X1, 7.00%, 06/25/2038 - 144A		2,390
04/2006 – 08/2007	$	40,958	CBA Commercial Small Balance Commercial Mortgage Class X2, 7.00%, 07/25/2035 - 144A		1,853
05/2003	$	250	Centura Capital Trust I, 8.85%, 06/01/2027 - 144A		260
02/2007	$	—	Citigroup Mortgage Loan Trust, Inc., 0.00%, 01/25/2037 - 144A		—
08/2007	$	35,509	Citigroup Mortgage Loan Trust, Inc., 5.91%, 07/25/2037		35,437
02/2007 – 12/2008	$	1,387	Citigroup Mortgage Loan Trust, Inc., 12.00%, 01/25/2037 - 144A		2,253
08/2007	$	40,005	Countrywide Home Loans, Inc., 6.00%, 10/25/2037		39,280
07/2007	$	3,136	Credit-Based Asset Servicing and Securitization, 0.74%, 05/25/2036 - 144A		3,070
02/2007	$	5,385	Crescent Resources LLC, 3.96%, 09/07/2012		5,372
08/2008	$	2,865	Drummond Co., Inc., 7.38%, 02/15/2016 - 144A		2,513
05/2008	$	1,220	El Salvador (Republic of), 7.65%, 06/15/2035 - Reg S		1,314
09/2007	$	2,330	El Salvador (Republic of), 8.50%, 07/25/2011 - Reg S		2,482
05/2007	$	51,522	First Horizon Mortgage Pass-Through Trust, 5.83%, 05/25/2037		51,636
01/2008	$	9,400	Ford Credit Floorplan Master Owner Trust, 1.37%, 06/15/2011		9,301
06/2006	$	210,181	GE Business Loan Trust, 6.14%, 05/15/2034 - 144A		920
07/2004	$	137,437	Goldman Sachs Mortgage Securities Corp. II, 4.38%, 08/10/2038 - 144A		791
05/2008	$	2,310	Grupo Senda Autotransporte, 10.50%, 10/03/2015 - 144A		2,307
06/2006 – 08/2006	$	8,670	Intelsat Bermuda Ltd., 9.25%, 06/15/2016		8,791
03/2007	$	1,675	JP Morgan Automotive Receivable Trust, 12.85%, 03/15/2012		1,675
10/2005	$	4,921	Lehman Brothers Small Balance Commercial, 5.52%, 09/25/2030 - 144A		4,920

The accompanying notes are an integral part of these financial statements.

157

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Period
Acquired	Shares/Par		Security	Cost Basis
09/2006	$	5,180	Lehman Brothers Small Balance Commercial, 5.62%, 09/25/2036 - 144A	$	5,178
10/2007 – 04/2008	$	4,475	LPL Holdings, Inc., 10.75%, 12/15/2015 - 144A		4,546
09/2006 – 11/2006	$	13,390	Marlin Leasing Receivables LLC, 5.33%, 09/16/2013 - 144A		13,392
07/2005	$	4,709	Mashantucket Western Pequot Revenue Bond, 5.91%, 09/01/2021 - 144A		4,709
11/2004	$	55,740	Merrill Lynch Mortgage Trust, 3.96%, 10/12/2041 - 144A		1,129
01/2007	$	3,311	MGM Mirage, Inc., 3.05%, 10/03/2011		3,284
11/2006	$	4,235	MHP S.A., 10.25%, 11/30/2011 - 144A		4,245
10/2005 – 08/2006	$	19,046	Morgan Stanley Dean Witter Capital I, 0.01%, 08/25/2032 - Reg D		324
04/2007	$	211	Nationstar Home Equity Loan Trust, 9.97%, 03/25/2037 - 144A		211
11/2006	$	3,900	North Street Referenced Linked Notes, 4.52%, 08/01/2010 - 144A		3,621
05/2007	$	11,208	Northgroup Preferred Capital Corp., 6.38%, 10/15/2017 - 144A		11,208
07/2008	$	3,325	Oceanografia S.A. de C.V., 11.25%, 07/15/2015 - 144A		3,286
03/2007	$	3,875	Option One Mortgage Loan Trust Class M6, 6.99%, 03/25/2037		3,798
03/2007	$	2,575	Option One Mortgage Loan Trust Class M7, 6.99%, 03/25/2037		2,371
03/2007		2,525	Option One Mortgage Loan Trust Class M8, 6.99%, 03/25/2037		2,198
03/2005	$	2,609	Popular ABS Mortgage Pass-Through Trust, 5.42%, 04/25/2035		2,609
10/2001 – 11/2001	$	12,100	Potlatch Corp., 13.00%, 12/01/2009		12,288
10/2007	$	4,100	RBS-Zero Hora Editora Journalistica, 11.25%, 06/15/2017 - Reg S		2,130
04/2008 – 06/2008	$	2,405	Rede Empresas De Energia, 11.13%, 04/02/2012 - 144A		2,338
03/2005	$	3,891	Renaissance Home Equity Loan Trust, 5.36%, 05/25/2035		3,891
03/2006	$	6,480	Renaissance Home Equity Loan Trust, 5.75%, 05/25/2036		6,480
08/2007	$	4,300	Renaissance Home Equity Loan Trust Class M5, 7.00%, 09/25/2037		3,239
08/2007	$	5,375	Renaissance Home Equity Loan Trust Class M8, 7.00%, 09/25/2037		2,974
02/2007	$	369	Soundview NIM Trust, 0.00%, 12/25/2036 - 144A		369
10/2007	$	17,050	Swift Master Automotive Receivables Trust, 1.85%, 10/15/2012		17,050
09/2007 – 10/2007	$	1,400	TuranAlem Finance B.V., 7.75%, 04/25/2013 - Reg S		1,249
02/2004	$	47,086	Wachovia Bank Commercial Mortgage Trust, 3.65%, 02/15/2041 - 144A		795
08/2007	$	2,088,656	Wachovia Bank Commercial Mortgage Trust, 10.00%, 02/15/2051		3,069
06/2007	$	19,570	Wamu Commercial Mortgage Securities Trust, 6.14%, 03/23/2045 - 144A		19,495
03/2008	$	12,953	Wells Fargo Alternative Loan Trust, 6.25%, 11/25/2037		10,444
06/2007 – 12/2008	$	11,501	WideOpenWest Finance LLC, 8.91%, 06/29/2015		11,151
05/2006		—	XO Holdings, Inc.		—


		The aggregate value of these securities at December 31, 2008 was $225,700 which represents 5.77% of total net assets.

(S)		December 31, 2008 Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

2 Year U.S. Treasury Note

1,426

Long

Mar 2009

2,166

5 Year U.S. Treasury Note

614

Long

Mar 2009

708

10 Year U.S. Treasury Note

1,617

Short

Mar 2009

(9,332

)

Euro Bond

243

Long

Mar 2009

1,107

U.S. Long Bond

480

Long

Mar 2009

6,174

823


		* The number of contracts does not omit 000’s.

IDA — Industrial Development Authority Bond

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

British Pound (Sell)	$	67,673	$	70,508		03/17/09	$	2,835
Euro (Buy)		83,246		77,810		01/07/09		5,436
Euro (Sell)		134,343		129,656		01/07/09		(4,687	)
Euro (Buy)		43,333		39,888		01/08/09		3,445
Euro (Sell)		83,745		80,145		01/08/09		(3,600	)
Euro (Sell)		42,715		39,207		01/09/09		(3,508	)
Japanese Yen (Buy)		49,643		50,354		03/04/09		(711	)
Japanese Yen (Sell)		73,714		72,124		03/04/09		(1,590	)

							$	(2,380	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Credit Default Swap Agreements Outstanding at December 31, 2008

Pay/

Unrealized

Reference

Buy/Sell

Receive

Expiration

Notional

Appreciation/

CounterParty

Entity

Protection

Fixed Rate

Date

Amount

(Depreciation)

JP Morgan Chase Bank

CDX North American High Yield Index

Buy

5.00

12/20/13

19,450

(1,500

)

The accompanying notes are an integral part of these financial statements.

158

Hartford U.S. Government Securities HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 11.6%
		Finance — 11.6%
		Ameriquest Mortgage Securities, Inc.
$	1,494	2.47%, 09/25/2032 (L)	$	1,069
		Ansonia CDO Ltd.
	9,800	0.77%, 07/28/2046 (H)(L)		1,470
		Arbor Realty Mortgage Securities
	13,000	3.93%, 01/26/2042 (H)(L)		2,990
		Banc of America Commercial Mortgage, Inc.
	9,000	4.50%, 07/10/2043		8,260
	33,631	4.83%, 07/11/2043 (H)(?)		583
	9,433	5.00%, 10/10/2045		8,530
		Banc of America Large Loan
	3,000	1.43%, 10/15/2019 (H)(L)		1,423
		Bayview Commercial Asset Trust
	91,178	7.00%, 07/25/2037 (H)(?)		7,066
	73,817	7.50%, 09/25/2037 (H)(?)		6,031
		Bayview Financial Acquisition Trust
	1,100	2.12%, 05/28/2037 (H)(L)		154
	2,135	3.47%, 05/28/2037 (H)(L)		85
		Bear Stearns Asset Backed Securities, Inc.
	5,984	1.57%, 05/25/2037 (H)(L)		269
		Bear Stearns Commercial Mortgage Securities, Inc.
	197,702	4.65%, 02/11/2041 (H)(?)		1,306
	27,973	4.85%, 08/15/2038 (H)(?)		874
		Carrington Mortgage Loan Trust
	4,906	2.12%, 02/25/2037 (H)(L)		264
		CBA Commercial Small Balance Commercial Mortgage
	2,399	6.09%, 07/25/2039 (H)(L)		1,290
	2,509	6.50%, 07/25/2039 (H)(L)		930
	57,037	7.25%, 07/25/2039 (H)(?)		5,418
		Citigroup Commercial Mortgage Trust
	5,000	1.43%, 08/15/2021 (H)(L)		2,860
		Citigroup Mortgage Loan Trust, Inc.
	8,209	5.91%, 07/25/2037 (H)(L)		4,842
		Commercial Mortgage Pass-Through Certificates
	8,544	1.49%, 12/15/2020 (H)(L)		3,484
	9,000	5.00%, 06/10/2044		8,348
		Countrywide Alternative Loan Trust
	3,728	0.72%, 10/25/2035 (H)(L)		3,174
		Countrywide Asset-Backed Certificates
	8,500	5.57%, 11/25/2035 (A)		2,125
	8,969	5.76%, 06/25/2035		2,311
	8,905	5.80%, 07/25/2034		3,915
		Countrywide Home Loan Mortgage Pass-Through Trust
	3,775	5.00%, 01/25/2019 (H)		3,686
		Credit Suisse Mortgage Capital Certificates
	2,808	2.00%, 09/15/2021 (H)(L)		1,390
		CS First Boston Mortgage Securities Corp.
	42,773	4.01%, 03/15/2035 (H)(?)		607
	9,000	4.51%, 07/15/2037		8,280
		Deutsche Alt-A Securities, Inc.
	21,175	5.56%, 02/25/2036 (H)(L)		12,884
		DLJ Mortgage Acceptance Corp. — Class B1
	15	7.25%, 09/18/2011 (H)		15
		DLJ Mortgage Acceptance Corp. — Class B2
	5	7.25%, 09/18/2011 (H)		5
		First Franklin Mortgage Loan Asset Backed Certificates
	558	2.95%, 07/25/2033 (H)(L)		14
		Green Tree Financial Corp.
	85	7.30%, 01/15/2026		84
		Greenwich Capital Commercial Funding Corp.
	12,000	2.12%, 11/05/2021 (H)(L)		4,139
	9,000	5.12%, 04/10/2037 (L)		8,169
		Indymac Index Mortgage Loan Trust
	16,949	0.71%, 06/25/2037 (H)(L)		8,644
		LB-UBS Commercial Mortgage Trust
	30,666	4.25%, 12/15/2036 (I)(?)		418
		Lehman XS Trust
	13,963	6.50%, 05/25/2037 (H)(L)		7,394
		LNR CDO Ltd.
	7,200	0.82%, 05/28/2043 (H)(L)		864
		Mach One Trust Commercial Mortgage-Backed
	26,076	6.09%, 05/28/2040 (H)(?)		450
		Marathon Real Estate CDO Ltd.
	4,000	1.87%, 05/25/2046 (H)(L)		200
		Master Asset Backed Securities Trust
	1,812	3.17%, 05/25/2033 (L)		1,507
		Master Asset Securitization Trust
	3,032	5.00%, 12/25/2018 (H)		2,960
		Merrill Lynch Floating Trust
	11,000	1.40%, 06/15/2022 (H)(L)		6,015
		Merrill Lynch Mortgage Investors, Inc.
	781	2.12%, 05/25/2032 (L)		555
		Merrill Lynch Mortgage Trust
	122,573	4.57%, 06/12/2043 (H)(?)		1,937
		Merrill Lynch/Countrywide Commercial Mortgage Trust
	9,000	5.20%, 12/12/2049		4,233
		Morgan Stanley ABS Capital I
	3,328	1.97%, 11/25/2032 (L)		2,034
		Morgan Stanley Capital
	5,500	1.29%, 10/15/2020 (I)(L)		3,367
		North Street Referenced Linked Notes
	4,250	4.52%, 08/01/2010 (H)(L)		2,210
		Renaissance Home Equity Loan Trust
	10,470	7.00%, 09/25/2037 (H)		684
	6,155	7.50%, 04/25/2037 — 06/25/2037 (H)		430
		Residential Asset Mortgage Products, Inc.
	2,148	5.70%, 10/25/2031		1,732
		Spirit Master Funding LLC
	12,329	5.76%, 03/20/2024 (H)		5,403
		Structured Asset Securities Corp.
	4,016	1.47%, 02/25/2033 (L)		3,478
	6,000	2.97%, 02/25/2037 (H)(L)		127
		Wachovia Bank Commercial Mortgage Trust
	9,000	4.52%, 05/15/2044		8,198

The accompanying notes are an integral part of these financial statements.

159

Hartford U.S. Government Securities HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)

ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — (continued)

		Finance — (continued)
		Wamu Commercial Mortgage Securities Trust
$	8,500	6.14%, 03/23/2045 (H)(L)	$	2,125

		Total asset & commercial mortgage backed securities (cost $355,093)	$	183,309



U.S. GOVERNMENT AGENCIES — 70.9%
		Federal Home Loan Mortgage Corporation — 12.3%
		Mortgage Backed Securities:
$	1,260	4.50%, 2018	$	1,297
	2,904	4.93%, 2035 (L)		2,903
	5,337	5.46%, 2036 (L)		5,457
	9,217	5.47%, 2036 (L)		9,433
	23,287	5.50%, 2034		23,884
	7,188	5.77%, 2037 (L)		7,342
	9,486	5.93%, 2037 (L)		9,738
	21,714	6.00%, 2021 — 2038		22,407
	7,005	6.50%, 2014 — 2037		7,295
	1,802	7.00%, 2026 — 2032		1,894
	31	7.50%, 2024 — 2025		32
	97	8.00%, 2013 — 2024		103
	17	8.50%, 2009 — 2024		18
	59	10.00%, 2020		66

				91,869

		Notes:
	40,000	4.13%, 2011		42,330

		Remic — Pac’s:
	24,515	5.00%, 2019 — 2034		24,754
	9,386	5.50%, 2016		9,762
	2,870	6.00%, 2031		2,896
	8,171	6.50%, 2028 — 2032		8,553

				45,965

		Remic — Z Bonds:
	13,585	5.50%, 2033 (R)		13,504

				193,668

		Federal National Mortgage Association — 40.0%
		Mortgage Backed Securities:
	16,675	4.75%, 2035 (L)		16,765
	5,688	4.82%, 2034 (L)		5,707
	960	4.86%, 2035 (L)		961
	1,819	4.94%, 2035 (L)		1,835
	18,798	5.00%, 2018 — 2035		19,271
	5,974	5.00%, 2035 (L)		6,098
	7,486	5.06%, 2035 (L)		7,573
	5,705	5.11%, 2035 (L)		5,743
	6,511	5.21%, 2035 (L)		6,620
	11,926	5.32%, 2037 (L)		12,074
	9,433	5.43%, 2036 (L)		9,638
	18,864	5.49%, 2037 (L)		19,269
	25,353	5.50%, 2015 — 2033		26,171
	7,040	5.53%, 2037 (L)		7,199
	22,084	5.77%, 2037 (L)		22,605
	8,074	5.94%, 2037 (L)		8,271
	12,257	5.97%, 2037 (L)		12,581
	54,897	6.00%, 2013 — 2037		56,377
	857	6.01%, 2009		856
	30,065	6.50%, 2013 — 2037		31,333
	2,633	7.00%, 2011 — 2032		2,760
	63	7.50%, 2023		67
	253	8.00%, 2029 — 2031		269
	6	8.50%, 2017		7
	72	9.00%, 2020 — 2021		80
	6	9.75%, 2020		7

				280,137

		Notes:
	100,000	3.25%, 2011		100,348
	110,000	4.14%, 2015		112,149
	125,000	4.20%, 2012		126,669

				339,166

		Remic — IO & IO-Ette:
	16,472	10.00%, 2037 (?)		1,706

		Remic — Pac’s:
	1,860	4.50%, 2016		1,872
	4,192	5.50%, 2014		4,292
	1,466	6.50%, 2031		1,535

				7,699

		Remic — Z Bonds:
	2,845	6.50%, 2029 (R)		2,969

				631,677

		Government National Mortgage Association — 1.8%
		Mortgage Backed Securities:
	7,550	5.00%, 2034		7,751
	8,709	6.00%, 2033 — 2034		9,005
	3,977	6.50%, 2028 — 2032		4,180
	2,978	7.00%, 2030 — 2032		3,132
	685	7.50%, 2022 — 2030		723
	102	8.50%, 2017 — 2030		110
	21	9.50%, 2009		21

				24,922

		Remic — Pac’s:
	2,798	6.50%, 2031		2,928

				27,850

		Other Government Agencies — 16.8%
		Small Business Administration Participation Certificates:
	3,485	4.95%, 2025		3,538
	8,668	5.12%, 2026		8,819
	12,715	5.16%, 2028		12,910
	6,604	5.23%, 2027		6,706
	13,587	5.31%, 2022 — 2027		13,932
	17,656	5.32%, 2027		18,136
	18,400	5.35%, 2026		18,988
	8,276	5.36%, 2026		8,519
	6,258	5.37%, 2026		6,448
	7,377	5.49%, 2027		7,636
	3,489	5.52%, 2024		3,637
	9,486	5.54%, 2026		9,928
	15,592	5.56%, 2027		16,150
	46,873	5.57%, 2026 — 2027		48,458
	7,178	5.64%, 2026		7,442
	12,946	5.71%, 2027		13,393
	3,124	5.76%, 2021		3,232
	13,845	5.78%, 2021 — 2027		14,275
	18,922	5.82%, 2026 — 2027		19,854
	8,812	5.87%, 2026		9,287

The accompanying notes are an integral part of these financial statements.

160


Principal					Market
Amount					Value (W)

U.S. GOVERNMENT AGENCIES — (continued)

		Other Government Agencies — (continued)

		Small Business Administration Participation Certificates: — (continued)
$	6,953	6.07%, 2026			$	7,459
	6,476	6.30%, 2019				6,707

						265,454

		Total U.S. government agencies (cost $1,096,007)			$	1,118,649



U.S. GOVERNMENT SECURITIES — 11.6%
		Other Direct Federal Obligations — 0.7%
		Federal Farm Credit Bank:
$	10,000	3.75%, 2010			$	10,475

		U.S. Treasury Securities — 10.9%
		U.S. Treasury Notes:
	61,000	2.38%, 2010				62,851
	12,000	2.38%, 2017 (O)				12,785
	50,000	3.75%, 2018				56,602
	16,584	4.00%, 2018				19,151
	4,320	4.13%, 2012				4,778
	3,550	4.25%, 2017				4,136
	7,215	4.50%, 2017				8,466
	2,665	4.63%, 2016				3,146

						171,915

		Total U.S. government securities (cost $176,537)			$	182,390



Contracts

CALL OPTIONS PURCHASED — 0.0%
		Long Call Future Option Contract — 0.0%
		U.S. 10 Year Note Option
	2	Expiration: February, 2009, Exercise Price: $140.00			$	53

		Total call options purchased (cost $110)			$	53



PUT OPTIONS PURCHASED — 0.1%
		Long Call Future Option Contract — 0.1%
		U.S. Bond Future Option
	1	Expiration: February, 2009, Exercise Price: $132.00			$	1,482

		Total put options purchased (cost $1,006)			$	1,482

		Total long-term investments (cost $1,628,753)			$	1,485,883



Principal
Amount

SHORT-TERM INVESTMENTS — 5.2%
		Repurchase Agreements — 0.0%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $278, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $281)
$	278	0.01% dated 12/31/2008			$	278
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $185, collateralized by U.S. Treasury Note 3.13%, 2013, value of $188)
	185	0.03% dated 12/31/2008				185
Principal					Market
Amount (B)					Value (W)

		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $43, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $43)
$	43	0.02% dated 12/31/2008			$	43

						506

		Treasury Bills — 5.2%
	6,375	0.10%, 01/15/2009 (M)(S)(U)(T)				6,375
CAD	47,000	1.27%, 02/05/2009 (M)				38,578
CAD	45,000	1.80%, 01/22/2009 (M)				36,943

						81,896

		Total short-term investments (cost $80,697)			$	82,402

		Total investments (cost $1,709,450) (C)	99.4	%	$	1,568,285
		Other assets and liabilities	0.6	%		9,003

		Total net assets	100.0	%	$	1,577,288


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 4.79% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,710,708 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	33,899
Unrealized Depreciation		(176,322	)

Net Unrealized Depreciation	$	(142,423	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $2,125, which represents 0.13% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $3,785, which represents 0.24% of total net assets.

(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(O)		U.S. Treasury inflation-protected securities (TIPS) are securities in which the principal amount is adjusted for inflation and the semiannual interest payments equal a fixed percentage of the inflation-adjusted principal amount.

(?)		The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2008.

(R)		Z-Tranche securities pay no principal or interest during their initial accrual period, but accrue additional principal at a specified coupon rate.

The accompanying notes are an integral part of these financial statements.

161

Hartford U.S. Government Securities HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


(B)		All principal amounts are in U.S. dollars unless otherwise indicated. CAD — Canadian Dollar

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Par		Security	Cost Basis

10/2006		9,800	Ansonia CDO Ltd., 0.77%, 07/28/2046 - 144A	$	9,800
11/2006		13,000	Arbor Realty Mortgage Securities, 3.93%, 01/26/2042 - 144A		13,000
02/2003		33,631	Banc of America Commercial Mortgage, Inc., 4.83%, 07/11/2043 - 144A		585
10/2006		3,000	Banc of America Large Loan, 1.43%, 10/15/2019 - 144A		3,000
05/2007		91,178	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		13,007
08/2007		73,817	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		10,175
04/2007		1,100	Bayview Financial Acquisition Trust, 2.12%, 05/28/2037		1,100
04/2007		2,135	Bayview Financial Acquisition Trust, 3.47%, 05/28/2037		2,069
04/2007		5,984	Bear Stearns Asset Backed Securities, Inc., 1.57%, 05/25/2037		5,984
05/2005 – 08/2007		197,702	Bear Stearns Commercial Mortgage Securities, Inc., 4.65%, 02/11/2041		1,566
02/2003		27,973	Bear Stearns Commercial Mortgage Securities, Inc., 4.85%, 08/15/2038 - 144A		943
03/2007		4,906	Carrington Mortgage Loan Trust, 2.12%, 02/25/2037		4,906
05/2007		2,399	CBA Commercial Small Balance Commercial Mortgage, 6.09%, 07/25/2039 - 144A		2,399
05/2007		2,509	CBA Commercial Small Balance Commercial Mortgage, 6.50%, 07/25/2039 - 144A		2,508
05/2007		57,037	CBA Commercial Small Balance Commercial Mortgage, 7.25%, 07/25/2039 - 144A		4,831
10/2006		5,000	Citigroup Commercial Mortgage Trust, 1.43%, 08/15/2021 - 144A		5,000
08/2007		8,209	Citigroup Mortgage Loan Trust, Inc., 5.91%, 07/25/2037		8,193
10/2006		8,544	Commercial Mortgage Pass-Through Certificates, 1.49%, 12/15/2020 - 144A		8,544
11/2005 – 01/2007		3,728	Countrywide Alternative Loan Trust, 0.72%, 10/25/2035		3,728
05/2004		3,775	Countrywide Home Loan Mortgage Pass-Through Trust, 5.00%, 01/25/2019		3,740
11/2006		2,808	Credit Suisse Mortgage Capital Certificates, 2.00%, 09/15/2021 - 144A		2,808
02/2003		42,773	CS First Boston Mortgage Securities Corp., 4.01%, 03/15/2035 - 144A		687
04/2007		21,175	Deutsche Alt-A Securities, Inc., 5.56%, 02/25/2036		21,189
08/2006		15	DLJ Mortgage Acceptance Corp. — Class B1, 7.25%, 09/18/2011 - 144A		15
08/2006		5	DLJ Mortgage Acceptance Corp. — Class B2, 7.25%, 09/18/2011 - 144A		5
06/2003		558	First Franklin Mortgage Loan Asset Backed Certificates, 2.95%, 07/25/2033		558
12/2006		12,000	Greenwich Capital Commercial Funding Corp., 2.12%, 11/05/2021 - 144A		12,000
04/2007 – 09/2008		16,949	Indymac Index Mortgage Loan Trust, 0.71%, 06/25/2037		16,949
10/2007		13,963	Lehman XS Trust, 6.50%, 05/25/2037		13,896
11/2006		7,200	LNR CDO Ltd., 0.82%, 05/28/2043 - 144A		7,214
07/2004		26,076	Mach One Trust Commercial Mortgage-Backed, 6.09%, 05/28/2040 - 144A		661
04/2007		4,000	Marathon Real Estate CDO Ltd., 1.87%, 05/25/2046 - 144A		3,914
07/2004		3,032	Master Asset Securitization Trust, 5.00%, 12/25/2018		3,035
10/2006		11,000	Merrill Lynch Floating Trust, 1.40%, 06/15/2022 - 144A		11,000
06/2005		122,573	Merrill Lynch Mortgage Trust, 4.57%, 06/12/2043		2,333
11/2006		4,250	North Street Referenced Linked Notes, 4.52%, 08/01/2010 - 144A		3,946
08/2007		10,470	Renaissance Home Equity Loan Trust, 7.00%, 09/25/2037		8,406
03/2007 – 05/2007		6,155	Renaissance Home Equity Loan Trust, 7.50%, 04/25/2037 — 06/25/2037		5,583
03/2006		12,329	Spirit Master Funding LLC, 5.76%, 03/20/2024 - 144A		12,325
03/2007		6,000	Structured Asset Securities Corp., 2.97%, 02/25/2037		5,655
06/2007		8,500	Wamu Commercial Mortgage Securities Trust, 6.14%, 03/23/2045 - 144A		8,468


		The aggregate value of these securities at December 31, 2008 was $106,696 which represents 6.76% of total net assets.

(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

5 Year U.S. Treasury Note

1,000

Long

Mar 2009

3,192

10 Year U.S. Treasury Note

730

Long

Mar 2009

730

U.S. Long Bond

Long

Mar 2009

225

4,147


		* The number of contracts does not omit 000’s.

The accompanying notes are an integral part of these financial statements.

162

Hartford Value HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 98.7%
		Banks — 5.6%
	70	PNC Financial Services Group, Inc.	$	3,440
	122	US Bancorp		3,059
	317	Wells Fargo & Co.		9,342

				15,841

		Capital Goods — 8.3%
	119	Cummins, Inc.		3,183
	35	Deere & Co.		1,337
	62	General Dynamics Corp.		3,548
	500	General Electric Co.		8,100
	64	Illinois Tool Works, Inc.		2,233
	72	PACCAR, Inc.		2,068
	48	Precision Castparts Corp.		2,855

				23,324

		Commercial & Professional Services — 1.3%
	111	Waste Management, Inc.		3,662
		Diversified Financials — 8.5%
	271	Bank of America Corp.		3,810
	171	Bank of New York Mellon Corp.		4,836
	100	Citigroup, Inc.		674
	61	Goldman Sachs Group, Inc.		5,123
	298	JP Morgan Chase & Co.		9,394

				23,837

		Energy — 15.1%
	89	Chevron Corp.		6,569
	49	ConocoPhillips Holding Co.		2,538
	191	Exxon Mobil Corp.		15,272
	116	Marathon Oil Corp.		3,182
	94	Newfield Exploration Co. (D)		1,862
	97	Occidental Petroleum Corp.		5,801
	65	Total S.A. ADR		3,589
	104	XTO Energy, Inc.		3,655

				42,468

		Food & Staples Retailing — 5.3%
	194	CVS/Caremark Corp.		5,587
	106	Kroger Co.		2,786
	119	Safeway, Inc.		2,829
	151	Supervalu, Inc.		2,202
	61	Sysco Corp.		1,408

				14,812

		Food, Beverage & Tobacco — 6.1%
	193	Altria Group, Inc.		2,913
	169	Dean Foods Co. (D)		3,033
	97	Nestle S.A. ADR		3,831
	77	PepsiCo, Inc.		4,190
	75	Philip Morris International, Inc.		3,276

				17,243

		Health Care Equipment & Services — 4.0%
	122	Aetna, Inc.		3,489
	65	Baxter International, Inc.		3,483
	160	UnitedHealth Group, Inc.		4,245

				11,217

		Household & Personal Products — 1.6%
	84	Kimberly-Clark Corp.		4,435
		Insurance — 5.4%
	150	ACE Ltd.		7,949
	32	AON Corp.		1,439
	111	Chubb Corp.		5,681

				15,069

		Materials — 3.3%
	83	Agrium U.S., Inc.		2,829
	76	Cliff’s Natural Resources, Inc.		1,954
	101	E.I. DuPont de Nemours & Co.		2,543
	157	International Paper Co.		1,855

				9,181

		Media — 3.0%
	330	Comcast Corp. Class A		5,565
	152	Viacom, Inc. Class B (D)		2,888

				8,453

		Pharmaceuticals, Biotechnology & Life Sciences — 6.7%
	75	Abbott Laboratories		3,998
	252	Bristol-Myers Squibb Co.		5,854
	100	Pfizer, Inc.		1,769
	191	Schering-Plough Corp.		3,251
	102	Wyeth		3,822

				18,694

		Real Estate — 1.2%
	279	Host Hotels & Resorts, Inc.		2,112
	67	Kimco Realty Corp.		1,223

				3,335

		Retailing — 3.3%
	91	Gap, Inc.		1,215
	66	Home Depot, Inc.		1,519
	105	Kohl’s Corp. (D)		3,783
	156	Staples, Inc.		2,797

				9,314

		Semiconductors & Semiconductor Equipment — 1.6%
	305	Intel Corp.		4,465
		Software & Services — 1.6%
	230	Microsoft Corp.		4,469
		Technology Hardware & Equipment — 5.2%
	238	Cisco Systems, Inc. (D)		3,879
	214	Dell, Inc. (D)		2,195
	91	Hewlett-Packard Co.		3,292
	220	Ingram Micro, Inc. (D)		2,949
	151	Nokia Corp.		2,349

				14,664

		Telecommunication Services — 5.2%
	322	AT&T, Inc.		9,172
	162	Verizon Communications, Inc.		5,482

				14,654

		Utilities — 6.4%
	59	Entergy Corp.		4,921
	39	Exelon Corp.		2,141
	74	FPL Group, Inc.		3,734
	42	NRG Energy, Inc. (D)		985
	52	PG&E Corp.		2,005
	81	SCANA Corp.		2,873
	38	Southern Co.		1,410

				18,069

		Total common stock (cost $340,894)	$	277,206

The accompanying notes are an integral part of these financial statements.

164


Principal					Market
Amount					Value (W)

SHORT-TERM INVESTMENTS — 1.4%
		Repurchase Agreements — 1.4%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3, collateralized by U.S. Treasury Note 4.50%, 2009, value of $3)
$	3	0.03% dated 01/02/2009			$	3
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,285, collateralized by FNMA 5.00%, 2035 — 2038, value of $1,311)
	1,285	0.08% dated 01/02/2009				1,285
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $56, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $58)
	56	0.07% dated 01/02/2009				56
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,243, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $1,267)
	1,243	0.10% dated 01/02/2009				1,243
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,144, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $1,167)
	1,144	0.05% dated 01/02/2009				1,144
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $155, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $158)
	155	0.07% dated 01/02/2009				155

		Total short-term investments (cost $3,886)			$	3,886

		Total investments (cost $344,780) (C)	100.1	%	$	281,092
		Other assets and liabilities	(0.1	)%		(294	)

		Total net assets	100.0	%	$	280,798


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 4.49% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $348,540 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	9,139
Unrealized Depreciation		(76,587	)

Net Unrealized Depreciation	$	(67,448	)


(D)		Currently non-income producing.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

165

Hartford Value Opportunities HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 98.4%
		Automobiles & Components — 0.7%
	491	TRW Automotive Holdings Corp. (D)	$	1,766
		Capital Goods — 6.5%
	39	Alliant Techsystems, Inc. (D)		3,370
	102	Deere & Co.		3,889
	41	Dover Corp.		1,360
	363	General Electric Co.		5,879
	123	Genesis Lease Ltd. ADR		349
	15	Lockheed Martin Corp.		1,253

				16,100

		Consumer Durables & Apparel — 1.0%
	79	MDC Holdings, Inc.		2,388
		Consumer Services — 0.4%
	38	Darden Restaurants, Inc.		1,074
		Diversified Financials — 11.1%
	157	Ameriprise Financial, Inc.		3,656
	314	Bank of America Corp.		4,426
	80	Capital One Financial Corp.		2,538
	404	CIT Group, Inc.		1,835
	8	Citigroup, Inc.		52
	15	Goldman Sachs Group, Inc.		1,241
	94	Invesco Ltd.		1,360
	100	JP Morgan Chase & Co.		3,159
	175	Oaktree Capital (D)(I)		3,325
	330	PennantPark Investment Corp.		1,192
	219	TD Ameritrade Holding Corp. (D)		3,116
	109	UBS AG ADR (D)		1,558

				27,458

		Energy — 14.4%
	22	Apache Corp.		1,610
	78	Baker Hughes, Inc.		2,511
	64	Canadian Natural Resources Ltd. ADR		2,563
	63	Consol Energy, Inc.		1,792
	35	Exxon Mobil Corp.		2,810
	251	Newfield Exploration Co. (D)		4,951
	113	Noble Energy, Inc.		5,562
	94	SBM Offshore N.V.		1,245
	263	Talisman Energy, Inc.		2,628
	73	Total S.A. ADR		4,051
	976	Uranium One, Inc. (D)		1,435
	356	USEC, Inc. (D)		1,597
	80	XTO Energy, Inc.		2,815

				35,570

		Food & Staples Retailing — 0.4%
	43	Sysco Corp.		991
		Food, Beverage & Tobacco — 7.3%
	2,877	Chaoda Modern Agriculture		1,849
	106	Cosan Ltd. (D)		367
	205	Dean Foods Co. (D)		3,675
	1	Japan Tobacco, Inc.		3,416
	8,592	Marine Harvest (D)		1,325
	238	Smithfield Foods, Inc. (D)		3,351
	172	Unilever N.V. NY Shares ADR		4,227

				18,210

		Health Care Equipment & Services — 6.5%
	112	CIGNA Corp.		1,880
	52	Covidien Ltd.		1,881
	147	Humana, Inc. (D)		5,484
	255	UnitedHealth Group, Inc.		6,786

				16,031

		Insurance — 10.0%
	154	ACE Ltd.		8,134
	78	Everest Re Group Ltd.		5,931
	93	Fidelity National Financial, Inc.		1,644
	54	First American Financial Corp.		1,573
	28	PartnerRe Ltd.		2,024
	68	Platinum Underwriters Holdings Ltd.		2,453
	72	Reinsurance Group of America, Inc.		3,074

				24,833

		Materials — 4.9%
	89	Alcoa, Inc.		997
	43	Celanese Corp.		531
	92	Companhia Vale do Rio Doce ADR		1,114
	35	Mosaic Co.		1,204
	170	Owens-Illinois, Inc. (D)		4,649
	15	Potash Corp. of Saskatchewan, Inc.		1,084
	217	Rexam plc		1,125
	309	Smurfit-Stone Container Corp. (D)		79
	34	Syngenta AG ADR		1,327

				12,110

		Media — 5.3%
	302	Comcast Corp. Class A		5,091
	322	Comcast Corp. Special Class A		5,194
	210	R.H. Donnelley Corp. (D)		78
	88	Viacom, Inc. Class B (D)		1,673
	208	Virgin Media, Inc.		1,035

				13,071

		Pharmaceuticals, Biotechnology & Life Sciences — 8.7%
	131	Alkermes, Inc. (D)		1,400
	39	Amgen, Inc. (D)		2,258
	670	Impax Laboratories, Inc. (A)(D)(H)		5,359
	359	Schering-Plough Corp.		6,119
	172	Wyeth		6,455

				21,591

		Real Estate — 0.6%
	86	Annaly Capital Management, Inc.		1,366
		Retailing — 1.7%
	3,040	Buck Holdings L.P. (A)(D)(H)		2,928
	60	Home Depot, Inc.		1,388

				4,316

		Semiconductors & Semiconductor Equipment — 1.2%
	170	Varian Semiconductor Equipment Associates, Inc. (D)		3,084
		Software & Services — 4.0%
	116	CACI International, Inc. Class A (D)		5,235
	242	Microsoft Corp.		4,701

				9,936

		Technology Hardware & Equipment — 6.7%
	156	Arrow Electronics, Inc. (D)		2,933
	290	Cisco Systems, Inc. (D)		4,723
	330	Corning, Inc.		3,149

166


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Technology Hardware & Equipment — (continued)
	495	Flextronics International Ltd. (D)			$	1,267
	293	JDS Uniphase Corp. (D)				1,068
	185	Seagate Technology				821
	230	Solar Cayman Ltd. (A)(D)(H)				2,697

						16,658

		Transportation — 5.0%
	631	Delta Air Lines, Inc. (D)				7,237
	49	United Parcel Service, Inc. Class B				2,677
	317	US Airways Group, Inc. (D)				2,453

						12,367

		Utilities — 2.0%
	55	Northeast Utilities				1,326
	89	Progress Energy, Inc.				3,546

						4,872

		Total common stock (cost $361,133)			$	243,792


Principal
Amount

SHORT-TERM INVESTMENTS — 1.4%
		Repurchase Agreements — 1.4%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3, collateralized by U.S. Treasury Note 4.50%, 2009, value of $3)
$	3	0.03% dated 12/31/2008			$	3
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,178, collateralized by FNMA 5.00%, 2035 — 2038, value of $1,201)
	1,178	0.08% dated 12/31/2008				1,178
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $52, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $53)
	52	0.07% dated 12/31/2008				52
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,139, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $1,162)
	1,139	0.10% dated 12/31/2008				1,139
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,048, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $1,069)
	1,048	0.05% dated 12/31/2008				1,048
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $142, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $145)
	142	0.07% dated 12/31/2008				142

		Total short-term investments (cost $3,562)			$	3,562

		Total investments (cost $364,695) (C)	99.8	%	$	247,354
		Other assets and liabilities	0.2	%		476

		Total net assets	100.0	%	$	247,830


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 11.97% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $372,125 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	4,744
Unrealized Depreciation		(129,515	)

Net Unrealized Depreciation	$	(124,771	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $10,984, which represents 4.43% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $3,325, which represents 1.34% of total net assets.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
06/2007		3,040	Buck Holdings L.P.	$	3,044
12/2005 – 12/2006		670	Impax Laboratories, Inc.		5,613
03/2007		230	Solar Cayman Ltd. - 144A		3,453


		The aggregate value of these securities at December 31, 2008 was $10,984 which represents 4.43% of total net assets.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

167

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels
December 31, 2008
(000’s Omitted)


	Hartford			Hartford			Hartford		Hartford
	Advisers			Capital Appreciation			Disciplined Equity		Dividend and Growth
	HLS Fund			HLS Fund			HLS Fund		HLS Fund
Assets:
Investment in securities — Level 1	$	2,596,897		$	6,186,130		$	1,026,105	$	4,386,828
Investment in securities — Level 2		1,314,385			1,000,909			—		—
Investment in securities — Level 3		20,737			61,980			—		30

Total	$	3,932,019		$	7,249,019		$	1,026,105	$	4,386,858

Other financial instruments — Level 1 *	$	—		$	—		$	642	$	—
Other financial instruments — Level 2 *		25			154			—		—

Total	$	25		$	154		$	642	$	—


Liabilities:
Securities sold short — Level 1	$	—		$	—		$	—	$	—

Total	$	—		$	—		$	—	$	—

Other financial instruments — Level 1 *	$	—		$	—		$	25	$	—
Other financial instruments — Level 2 *		—			23			—		—

Total	$	—		$	23		$	25	$	—

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.
Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of December 31, 2007	$	13,641		$	57,740		$	—	$	—
Realized gain (loss)		—			(640	)		—		—
Change in unrealized appreciation (depreciation) (V)		(222	)		(19,574	)		—		—
Net purchases (sales)		(117	)		6,326			—		—
Transfers in and /or out of Level 3		7,435			18,128			—		30

Balance as of December 31, 2008	$	20,737		$	61,980		$	—	$	30

(V) Change in unrealized gains or losses relating to assets still held at December 31, 2008	$	(42,047	)	$	(34,122	)	$	—	$	(13,570	)

Other financial instruments:
Balance as of December 31, 2007	$	—		$	—		$	—	$	—
Realized gain (loss) †		—			—			—		—
Change in unrealized appreciation (depreciation)		—			—			—		—

Balance as of December 31, 2008	$	—		$	—		$	—	$	—


Liabilities:
Other financial instruments:
Balance as of December 31, 2007	$	—		$	—		$	—	$	—
Realized gain (loss) †		—			—			—		—
Change in unrealized appreciation (depreciation)		—			—			—		—

Balance as of December 31, 2008	$	—		$	—		$	—	$	—

† The realized gain (loss) earned during the period ended December 31, 2008, for other financial instruments	$	—		$	—		$	—	$	—


†		Commenced operations on January 31, 2008.

The accompanying notes are an integral part of these financial statements.

168


Hartford		Hartford		Hartford			Hartford			Hartford		Hartford			Hartford		Hartford
Equity Income		Fundamental Growth		Global Advisers			Global Equity			Global Growth		Global Health			Growth		Growth Opportunities
HLS Fund		HLS Fund		HLS Fund			HLS Fund†			HLS Fund		HLS Fund			HLS Fund		HLS Fund

$	269,227	$	54,246	$	74,953		$	53,323		$	340,746	$	193,441		$	273,252	$	806,109
	4,988		—		144,128			26,387			187,474		47,538			11,094		76,164
	—		—		1,113			17			—		—			—		—

$	274,215	$	54,246	$	220,194		$	79,727		$	528,220	$	240,979		$	284,346	$	882,273

$	—	$	—	$	216		$	5		$	—	$	—		$	—	$	—
	—		—		4,468			12			7		—			—		—

$	—	$	—	$	4,684		$	17		$	7	$	—		$	—	$	—



$	—	$	—	$	—		$	—		$	—	$	—		$	—	$	—

$	—	$	—	$	—		$	—		$	—	$	—		$	—	$	—

$	—	$	—	$	734		$	—		$	—	$	—		$	—	$	—
	—		—		6,026			4			6		—			—		—

$	—	$	—	$	6,760		$	4		$	6	$	—		$	—	$	—






$	—	$	—	$	3,670		$	—		$	—	$	1,948		$	—	$	—
	—		—		5			—			—		—			—		—
	—		—		(69	)		(409	)		—		—			—		(150	)
	—		—		(2,189	)		400			—		—			—		—
	—		—		(304	)		26			—		(1,948	)		—		150

$	—	$	—	$	1,113		$	17		$	—	$	—		$	—	$	—


$	—	$	—	$	(109	)	$	(625	)	$	—	$	—		$	—	$	(111	)


$	—	$	—	$	—		$	—		$	—	$	—		$	—	$	—
	—		—		—			—			—		—			—		—
	—		—		—			—			—		—			—		—

$	—	$	—	$	—		$	—		$	—	$	—		$	—	$	—




$	—	$	—	$	—		$	—		$	—	$	—		$	—	$	—
	—		—		—			—			—		—			—		—
	—		—		—			—			—		—			—		—

$	—	$	—	$	—		$	—		$	—	$	—		$	—	$	—


$	—	$	—	$	—		$	—		$	—	$	—		$	—	$	—

169

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels — (continued)
December 31, 2008
(000’s Omitted)


	Hartford			Hartford		Hartford			Hartford
	High Yield			Index		International Growth			International Opportunities
	HLS Fund			HLS Fund		HLS Fund			HLS Fund
Assets:
Investment in securities — Level 1	$	37,860		$	847,395	$	59,580		$	277,632
Investment in securities — Level 2		361,584			2,900		333,694			911,575
Investment in securities — Level 3		12,693			—		7,549			58,546

Total	$	412,137		$	850,295	$	400,823		$	1,247,753

Other financial instruments — Level 1 *	$	1,300		$	180	$	—		$	—
Other financial instruments — Level 2 *		—			—		—			19

Total	$	1,300		$	180	$	—		$	19


Liabilities:
Securities sold short — Level 1	$	—		$	—	$	—		$	—

Total	$	—		$	—	$	—		$	—

Other financial instruments — Level 2 *		222			—		—			33

Total	$	222		$	—	$	—		$	33

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.
Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of December 31, 2007	$	8,021		$	—	$	—		$	—
Realized gain (loss)		(317	)		—		—			—
Change in unrealized appreciation (depreciation) (V)		(2,523	)		—		—			—
Net purchases (sales)		2,197			—		—			—
Transfers in and /or out of Level 3		5,315			—		7,549			58,546

Balance as of December 31, 2008	$	12,693		$	—	$	7,549		$	58,546

(V) Change in unrealized gains or losses relating to assets still held at December 31, 2008	$	(7,058	)	$	—	$	(21	)	$	(11,202	)

Other financial instruments:
Balance as of December 31, 2007	$	—		$	—	$	—		$	—
Realized gain (loss) †		—			—		—			—
Change in unrealized appreciation (depreciation)		—			—		—			—

Balance as of December 31, 2008	$	—		$	—	$	—		$	—


Liabilities:
Other financial instruments:
Balance as of December 31, 2007	$	—		$	—	$	—		$	—
Realized gain (loss) †		—			—		—			—
Change in unrealized appreciation (depreciation)		—			—		—			—

Balance as of December 31, 2008	$	—		$	—	$	—		$	—

† The realized gain (loss) earned during the period ended December 31, 2008, for other financial instruments	$	—		$	—	$	—		$	—

The accompanying notes are an integral part of these financial statements.

170


Hartford		Hartford		Hartford		Hartford		Hartford			Hartford		Hartford		Hartford
International Small Company		LargeCap Growth		MidCap		MidCap Growth		MidCap Value			Money Market		Small Company		SmallCap Growth
HLS Fund		HLS Fund		HLS Fund		HLS Fund		HLS Fund			HLS Fund		HLS Fund		HLS Fund

$	4,910	$	89,025	$	1,721,657	$	47,142	$	396,305		$	579,170	$	947,865	$	446,144
	166,616		60		—		90		13,707			4,628,242		21,123		230
	—		—		—		—		20,264			—		—		—

$	171,526	$	89,085	$	1,721,657	$	47,232	$	430,276		$	5,207,412	$	968,988	$	446,374

$	—	$	27	$	—	$	36	$	—		$	—	$	425	$	36
	4		—		—		—		—			—		8		—

$	4	$	27	$	—	$	36	$	—		$	—	$	433	$	36



$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—

$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—

	6		—		—		—		—			—		—		—

$	6	$	—	$	—	$	—	$	—		$	—	$	—	$	—









$	—	$	—	$	—	$	—	$	11,437		$	—	$	—	$	—
	—		—		—		—		—			—		—		—
	—		—		—		—		(568	)		—		—		—
	—		—		—		—		—			—		—		—
	—		—		—		—		9,395			—		—		—

$	—	$	—	$	—	$	—	$	20,264		$	—	$	—	$	—


$	—	$	—	$	—	$	—	$	(3,516	)	$	—	$	—	$	—


$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—
	—		—		—		—		—			—		—		—
	—		—		—		—		—			—		—		—

$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—




$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—
	—		—		—		—		—			—		—		—
	—		—		—		—		—			—		—		—

	—		—		—		—		—			—		—		—


$	—	$	—	$	—	$	—	$	—		$	—	$	—	$	—

171

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels — (continued)
December 31, 2008
(000’s Omitted)


	Hartford		Hartford			Hartford			Hartford
	SmallCap Value		Stock			Total Return Bond			U.S. Government Securities
	HLS Fund		HLS Fund			HLS Fund			HLS Fund
Assets:
Investment in securities — Level 1	$	60,306	$	1,991,760		$	186,103		$	58,642
Investment in securities — Level 2		—		89,593			3,605,052			1,444,644
Investment in securities — Level 3		—		10,650			56,060			64,999

Total	$	60,306	$	2,092,003		$	3,847,215		$	1,568,285

Other financial instruments — Level 1 *	$	19	$	—		$	10,155		$	4,169
Other financial instruments — Level 2 *		—		25			11,716			85

Total	$	19	$	25		$	21,871		$	4,254


Liabilities:
Securities sold short — Level 1	$	—	$	—		$	—		$	—

Total	$	—	$	—		$	—		$	—

Other financial instruments — Level 1 *	$	—	$	—		$	9,332		$	444
Other financial instruments — Level 2 *		—		—			15,596			578

Total	$	—	$	—		$	24,928		$	1,022

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.
Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of December 31, 2007	$	—	$	9,887		$	139,082		$	112,165
Realized gain (loss)		—		—			(16,701	)		(1,208	)
Change in unrealized appreciation (depreciation) (V)		—		692			(37,104	)		(70,629	)
Net purchases (sales)		—		—			(11,558	)		53,794
Transfers in and /or out of Level 3		—		71			(17,659	)		(29,123	)

Balance as of December 31, 2008	$	—	$	10,650		$	56,060		$	64,999

(V) Change in unrealized gains or losses relating to assets still held at December 31, 2008	$	—	$	(31,337	)	$	(46,268	)	$	(87,054	)

Other financial instruments:
Balance as of December 31, 2007	$	—	$	—		$	5,495		$	—
Realized gain (loss) †		—		—			—			—
Change in unrealized appreciation (depreciation)		—		—			(5,495	)		—

Balance as of December 31, 2008	$	—	$	—		$	—		$	—


Liabilities:
Other financial instruments:
Balance as of December 31, 2007	$	—	$	—		$	3,531		$	—
Realized gain (loss) †		—		—			—			—
Change in unrealized appreciation (depreciation)		—		—			(3,531	)		—

Balance as of December 31, 2008	$	—	$	—		$	—		$	—

† The realized gain (loss) earned during the period ended December 31, 2008, for other financial instruments	$	—	$	—		$	17,384		$	—

The accompanying notes are an integral part of these financial statements.

172

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Assets and Liabilities
December 31, 2008
(000’s Omitted)


	Hartford			Hartford			Hartford			Hartford
	Advisers			Capital Appreciation			Disciplined Equity			Dividend and Growth
	HLS Fund			HLS Fund			HLS Fund			HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market Fund) @	$	3,932,019		$	7,249,019		$	1,026,105		$	4,386,858
Cash		—			70			4,271	*†		1
Foreign currency on deposit with custodian #		—			5			—			—
Unrealized appreciation on forward foreign currency contracts		25			154			—			—
Unrealized appreciation on forward bonds		—			—			—			—
Receivables:
Investment securities sold		71,711			74,802			2,587			37,579
Fund shares sold		310			12,397			99			3,532
Dividends and interest		20,211			17,924			2,450			9,791
Variation margin		—			—			202			—
Swap premiums paid		—			—			—			—
Other assets		14			29			4			15

Total assets		4,024,290			7,354,400			1,035,718			4,437,776


Liabilities:
Unrealized depreciation on forward foreign currency contracts		—			23			—			—
Unrealized depreciation on forward bonds		—			—			—			—
Bank overdraft — U.S. Dollars		—			—			—			—
Payables:
Investment securities purchased		65,622			25,966			—			23,655
Fund shares redeemed		4,108			13,516			607			7,299
Variation margin		—			—			—			—
Investment management and advisory fees (Note 5)		346			671			112			413
Administrative fee		168			307			44			185
Distribution fees (Note 5)		29			68			9			41
Accrued expenses		492			800			117			431
Written options (Note 3)		—			—			182			—

Total liabilities		70,765			41,351			1,071			32,024

Net assets	$	3,953,525		$	7,313,049		$	1,034,647		$	4,405,752


Summary of Net Assets:
Capital stock and paid-in-capital	$	6,096,114		$	12,264,510		$	1,518,350		$	5,408,396
Accumulated undistributed (distributions in excess of) net investment income (loss)		5,796			(63,147	)		1,554			6,857
Accumulated net realized gain (loss) on investments and foreign currency transactions		(808,912	)		(2,085,770	)		(229,126	)		(272,231	)
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		(1,339,473	)		(2,802,544	)		(256,131	)		(737,270	)

Net assets	$	3,953,525		$	7,313,049		$	1,034,647		$	4,405,752

Shares authorized		9,500,000			5,000,000			3,500,000			4,000,000

Par value	$	0.001		$	0.001		$	0.001		$	0.001

Class IA: Net asset value per share	$	13.69		$	25.34		$	8.46		$	14.37

Shares outstanding		248,698			237,489			102,749			252,564

Net assets	$	3,404,626		$	6,017,984		$	868,799		$	3,628,793

Class IB: Net asset value per share	$	13.85		$	25.14		$	8.41		$	14.34

Shares outstanding		39,634			51,508			19,709			54,187

Net assets	$	548,899		$	1,295,065		$	165,848		$	776,959

@ Cost of securities	$	5,271,497		$	10,051,646		$	1,282,853		$	5,124,128

# Cost of foreign currency on deposit with custodian	$	—		$	4		$	—		$	—


*		Cash of $2,592 is pledged as collateral for open put options.
†		Cash of $1,678 is pledged as collateral for open futures contracts.
‡		Cash of $15 is pledged as collateral for open futures contracts.

The accompanying notes are an integral part of these financial statements.

174


Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford
Equity Income			Fundamental Growth			Global Advisers			Global Equity			Global Growth			Global Health			Growth			Growth Opportunities
HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund


$	274,215		$	54,246		$	220,194		$	79,727		$	528,220		$	240,979		$	284,346		$	882,273
	—			1			134			15	‡		92			1			1			—
	—			—			—			74			—			—			—			—
	—			—			3,477			12			7			—			—			—
	—			—			991			—			—			—			—			—

	1,036			129			25,686			1,408			5,506			88			572			—
	50			8			12			83			2,185			862			2,097			423
	932			83			1,275			164			284			152			325			996
	—			—			252			2			—			—			—			—
	—			—			—			—			—			—			—			—
	1			—			1			2			2			1			1			3

	276,234			54,467			252,022			81,487			536,296			242,083			287,342			883,695


	—			—			5,725			4			6			—			—			—
	—			—			301			—			—			—			—			—
	—			—			—			60			—			—			—			—

	1,146			715			22,541			1,424			2,515			—			1,509			5,455
	140			38			226			325			2,200			839			28			1,245
	—			—			28			—			—			—			—			—
	36			7			27			13			61			33			37			113
	12			2			9			3			23			10			12			—
	2			1			2			2			6			4			4			6
	36			19			43			21			76			30			39			95
	—			—			—			—			—			—			—			—

	1,372			782			28,902			1,852			4,887			916			1,629			6,914

$	274,862		$	53,685		$	223,120		$	79,635		$	531,409		$	241,167		$	285,713		$	876,781


$	347,346		$	91,433		$	297,575		$	155,405		$	847,171		$	302,617		$	421,063		$	1,364,683

	893			343			(319	)		(10	)		270			76			143			588

	(9,510	)		(20,233	)		(36,541	)		(45,229	)		(153,122	)		(5,001	)		(40,537	)		(262,557	)

	(63,867	)		(17,858	)		(37,595	)		(30,531	)		(162,910	)		(56,525	)		(94,956	)		(225,933	)

$	274,862		$	53,685		$	223,120		$	79,635		$	531,409		$	241,167		$	285,713		$	876,781

	800,000			800,000			1,000,000			800,000			3,400,000			800,000			800,000			700,000

$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001

$	9.20		$	5.92		$	8.50		$	6.16		$	10.17		$	10.66		$	7.53		$	17.05

	25,744			5,974			21,973			7,899			41,202			16,806			27,080			44,148

$	236,728		$	35,367		$	186,855		$	48,627		$	419,183		$	179,087		$	203,993		$	752,898

$	9.20		$	5.88		$	8.48		$	6.15		$	10.12		$	10.46		$	7.42		$	16.89

	4,143			3,113			4,277			5,044			11,087			5,937			11,014			7,334

$	38,134		$	18,318		$	36,265		$	31,008		$	112,226		$	62,080		$	81,720		$	123,883

$	338,082		$	72,104		$	255,110		$	110,272		$	691,120		$	297,504		$	379,302		$	1,108,206

$	—		$	—		$	—		$	74		$	—		$	—		$	—		$	—

175

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Assets and Liabilities — (continued)
December 31, 2008
(000’s Omitted)


	Hartford			Hartford			Hartford			Hartford
	High Yield			Index			International Growth			International Opportunities
	HLS Fund			HLS Fund			HLS Fund			HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market Fund) @	$	412,137		$	850,295		$	400,823		$	1,247,753
Cash		260	*		18			1			1
Foreign currency on deposit with custodian #		119			—			—			1,283
Unrealized appreciation on forward foreign currency contracts		—			—			—			19
Receivables:
Investment securities sold		3,103			—			304			—
Fund shares sold		521			6,470			200			1,807
Dividends and interest		10,302			1,886			1,115			1,801
Variation margin		—			287			—			—
Swap premiums paid		—			—			—			—
Other assets		1			3			2			5

Total assets		426,443			858,959			402,445			1,252,669


Liabilities:
Unrealized depreciation on forward foreign currency contracts		222			—			—			33
Unrealized depreciation on forward bonds		—			—			—			—
Bank overdraft — U.S. Dollars		—			—			—			—
Payables:
Investment securities purchased		6,436			1,391			—			15,278
Fund shares redeemed		994			1,266			291			1,549
Variation margin		216			31			—			—
Investment management and advisory fees (Note 5)		44			18			54			130
Administrative fee		18			36			17			52
Distribution fees (Note 5)		7			7			6			10
Accrued expenses		62			115			68			162

Total liabilities		7,999			2,864			436			17,214

Net assets	$	418,444		$	856,095		$	402,009		$	1,235,455


Summary of Net Assets:
Capital stock and paid-in-capital	$	668,718		$	1,128,061		$	851,888		$	1,894,116
Accumulated undistributed (distributions in excess of) net investment income (loss)		1,269			1,442			410			1,291
Accumulated net realized gain (loss) on investments and foreign currency transactions		(127,105	)		(33,336	)		(428,681	)		(452,663	)
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		(124,438	)		(240,072	)		(21,608	)		(207,289	)

Net assets	$	418,444		$	856,095		$	402,009		$	1,235,455

Shares authorized		2,800,000			4,000,000			800,000			2,625,000

Par value	$	0.001		$	0.001		$	0.001		$	0.001

Class IA: Net asset value per share	$	5.73		$	18.75		$	5.85		$	8.40

Shares outstanding		51,269			38,290			50,086			124,530

Net assets	$	293,773		$	718,081		$	293,243		$	1,046,234

Class IB: Net asset value per share	$	5.68		$	18.69		$	5.83		$	8.51

Shares outstanding		21,951			7,385			18,672			22,246

Net assets	$	124,671		$	138,014		$	108,766		$	189,221

@ Cost of securities	$	537,661		$	1,090,547		$	422,432		$	1,454,970

# Cost of foreign currency on deposit with custodian	$	111		$	—		$	—		$	1,285


*		Cash of $260 is pledged as collateral for open futures contracts.

†		Cash of $62 is pledged as collateral for open futures contracts.

The accompanying notes are an integral part of these financial statements.

176


Hartford
International
Small			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford
Company			LargeCap Growth			MidCap			MidCap Growth			MidCap Value			Money Market			Small Company			SmallCap Growth
HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund


$	171,526		$	89,085		$	1,721,657		$	47,232		$	430,276		$	5,207,412		$	968,988		$	446,374
	—			63	†		1			—			1			10			546			1
	—			—			—			—			—			—			—			—
	4			—			—			—			—			—			8			—

	1,710			—			9,010			—			830			—			14,587			1,921
	17			80			7,252			256			21			4,886			5,306			256
	124			146			1,665			40			811			2,523			344			213
	—			15			—			18			—			—			275			18
	—			—			—			—			—			—			—			—
	1			—			6			—			2			901			3			2

	173,382			89,389			1,739,591			47,546			431,941			5,215,732			990,057			448,785




	6			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—
	293			—			—			—			—			—			—			—

	—			—			10,255			—			1,063			—			14,933			227
	159			7			6,836			376			359			13,336			2,372			278
	—			—			—			—			—			—			—			—
	24			12			172			8			54			249			104			58
	7			—			72			—			18			228			41			—
	2			—			9			—			7			42			9			6
	31			13			178			13			61			215			109			59

	522			32			17,522			397			1,562			14,070			17,568			628

$	172,860		$	89,357		$	1,722,069		$	47,149		$	430,379		$	5,201,662		$	972,489		$	448,157



$	313,194		$	181,087		$	2,442,772		$	79,551		$	699,092		$	5,212,739		$	1,490,608		$	738,306

	9			20			890			7			759			1,955			(5	)		405

	(81,420	)		(69,566	)		(276,008	)		(20,338	)		(109,576	)		(13,032	)		(308,586	)		(148,654	)


	(58,923	)		(22,184	)		(445,585	)		(12,071	)		(159,896	)		—			(209,528	)		(141,900	)

$	172,860		$	89,357		$	1,722,069		$	47,149		$	430,379		$	5,201,662		$	972,489		$	448,157

	800,000			700,000			2,400,000			800,000			1,200,000			14,000,000			1,500,000			700,000

$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001

$	8.30		$	9.88		$	16.21		$	5.34		$	5.82		$	1.00		$	11.01		$	11.57

	16,098			8,818			95,793			7,198			51,902			4,436,524			72,052			28,730

$	133,595		$	87,150		$	1,552,741		$	38,447		$	301,896		$	4,427,230		$	793,078		$	332,330

$	8.24		$	9.87		$	16.06		$	5.34		$	5.80		$	1.00		$	10.76		$	11.53

	4,767			224			10,546			1,631			22,156			776,215			16,680			10,042

$	39,265		$	2,207		$	169,328		$	8,702		$	128,483		$	774,432		$	179,411		$	115,827

$	230,455		$	111,296		$	2,167,242		$	59,339		$	590,172		$	5,207,412		$	1,178,946		$	588,310

$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

177

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Assets and Liabilities — (continued)
December 31, 2008
(000’s Omitted)


	Hartford			Hartford			Hartford			Hartford
	SmallCap Value			Stock			Total Return Bond			U.S. Government Securities
	HLS Fund			HLS Fund			HLS Fund			HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market) @	$	60,306		$	2,092,003		$	3,847,215		$	1,568,285
Cash		55	*		370			2,304			46
Foreign currency on deposit with custodian #		—			—			6,297			2
Unrealized appreciation on forward foreign currency contracts		—			25			11,716			85
Receivables:
Investment securities sold		192			6,040			17,982			511
Fund shares sold		819			108			2,045			526
Dividends and interest		165			3,425			37,257			13,288
Variation margin		11			—			2,502			—
Swap premiums paid		—			—			5,408			—
Other assets		—			8			11			—

Total assets		61,548			2,101,979			3,932,737			1,582,743


Liabilities:
Unrealized depreciation on forward foreign currency contracts		—			—			14,096			578
Unrealized depreciation on swap contracts		—			—			1,500			—
Bank overdraft — U.S. Dollars		—			—			—			—
Payables:
Investment securities purchased		202			—			2,524			—
Fund shares redeemed		225			2,817			3,388			1,503
Variation margin		2			—			1,991			1,789
Investment management and advisory fees (Note 5)		11			120			223			155
Administrative fee		—			88			170			—
Distribution fees (Note 5)		—			15			40			18
Accrued expenses		17			281			306			83
Written options (Note 3)		—			—			—			1,329

Total liabilities		457			3,321			24,238			5,455

Net assets	$	61,091		$	2,098,658		$	3,908,499		$	1,577,288


Summary of Net Assets:
Capital stock and paid-in-capital	$	91,536		$	3,883,514		$	4,608,906		$	1,751,581
Accumulated undistributed (distributions in excess of) net investment income (loss)		207			3,404			(15,005	)		910
Accumulated net realized gain (loss) on investments and foreign currency transactions		(11,252	)		(761,092	)		(236,532	)		(37,270	)
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		(19,400	)		(1,027,168	)		(448,870	)		(137,933	)

Net assets	$	61,091		$	2,098,658		$	3,908,499		$	1,577,288

Shares authorized		700,000			4,000,000			5,000,000			700,000

Par value	$	0.001		$	0.001		$	0.001		$	0.001

Class IA: Net asset value per share	$	7.37		$	25.86		$	9.54		$	10.19

Shares outstanding		7,901			70,015			331,957			121,991

Net assets	$	58,193		$	1,810,864		$	3,167,919		$	1,243,275

Class IB: Net asset value per share	$	7.33		$	25.84		$	9.50		$	10.16

Shares outstanding		395			11,137			77,947			32,865

Net assets	$	2,898		$	287,794		$	740,580		$	334,013

@ Cost of securities	$	79,725		$	3,119,183		$	4,293,058		$	1,709,450

# Cost of foreign currency on deposit with custodian	$	—		$	—		$	6,186		$	2


*		Cash of $55 is pledged as collateral for open futures contracts.

The accompanying notes are an integral part of these financial statements.

178

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Operations
For the Year Ended December 31, 2008
(000’s Omitted)


	Hartford			Hartford			Hartford			Hartford
	Advisers			Capital Appreciation			Disciplined Equity			Dividend and Growth
	HLS Fund			HLS Fund			HLS Fund			HLS Fund

Investment Income:
Dividends	$	72,519		$	190,744		$	26,743		$	170,824
Interest		100,921			14,411			373			1,449
Securities lending		3,798			9,514			287			2,329
Less: Foreign tax withheld		(1,249	)		(7,185	)		—			(2,619	)

Total investment income, net		175,989			207,484			27,403			171,983


Expenses:
Investment management and advisory fees		23,318			50,235			7,139			26,371
Administrative service fees		11,497			23,228			2,949			11,998
Distribution fees — Class IB		2,054			5,492			634			2,885
Custodian fees		92			541			25			12
Accounting services		900			1,913			177			817
Board of Directors’ fees		115			224			32			112
Other expenses		571			1,117			197			631

Total expenses (before waivers and fees paid indirectly)		38,547			82,750			11,153			42,826
Expense waivers		—			—			—			—
Commission recapture		(195	)		(463	)		(34	)		(108	)
Custodian fee offset		(97	)		(25	)		(5	)		(3	)

Total waivers and fees paid indirectly		(292	)		(488	)		(39	)		(111	)

Total expenses, net		38,255			82,262			11,114			42,715

Net investment income (loss)		137,734			125,222			16,289			129,268


Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized gain (loss) on investments		(769,572	)		(2,050,998	)		(213,871	)		(264,886	)
Net realized gain (loss) on futures, options and swap contracts		169	†		—			(4,206	)‡		—
Net realized gain (loss) on foreign currency transactions		16,992			7,885			—			—

Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(752,411	)		(2,043,113	)		(218,077	)		(264,886	)


Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(1,447,755	)		(4,512,820	)		(459,464	)		(2,110,000	)
Net unrealized appreciation (depreciation) of futures, written options and swap contracts		—			—			916			—
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		(512	)		9,005			—			—

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(1,448,267	)		(4,503,815	)		(458,548	)		(2,110,000	)

Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(2,200,678	)		(6,546,928	)		(676,625	)		(2,374,886	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(2,062,944	)	$	(6,421,706	)	$	(660,336	)	$	(2,245,618	)


*		Commenced operations on January 31, 2008.
†		Realized gains on written options were $169 for the Advisers Fund.
‡		Realized gains on written options were $2,633 for the Disciplined Equity Fund.

The accompanying notes are an integral part of these financial statements.

180


Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford
Equity Income			Fundamental Growth			Global Advisers			Global Equity			Global Growth			Global Health			Growth			Growth Opportunities
HLS Fund			HLS Fund			HLS Fund			HLS Fund*			HLS Fund			HLS Fund			HLS Fund			HLS Fund


$	14,139		$	1,091		$	2,331		$	1,061		$	12,303		$	4,114		$	4,493		$	13,325
	60			43			6,215			29			251			51			165			546
	13			12			160			9			1,706			183			230			689
	(105	)		(10	)		(205	)		(99	)		(1,011	)		(213	)		(107	)		(327	)

	14,107			1,136			8,501			1,000			13,249			4,135			4,781			14,233



	2,226			509			1,817			340			4,787			2,037			2,616			7,929
	731			170			646			91			1,872			638			867			—
	134			74			139			34			514			207			332			501
	13			10			37			30			51			19			18			175
	37			8			58			7			131			32			43			—
	8			3			7			1			20			8			10			26
	53			19			48			—			123			68			100			163

	3,202			793			2,752			503			7,498			3,009			3,986			8,794
	—			—			—			(34	)		—			—			—			—
	(12	)		(2	)		(5	)		(3	)		(27	)		(10	)		(26	)		(104	)
	—			—			(2	)		—			(2	)		—			(1	)		(1	)

	(12	)		(2	)		(7	)		(37	)		(29	)		(10	)		(27	)		(105	)

	3,190			791			2,745			466			7,469			2,999			3,959			8,689

	10,917			345			5,756			534			5,780			1,136			822			5,544




	(9,484	)		(20,013	)		(36,192	)		(18,097	)		(152,412	)		10,096			(39,577	)		(260,841	)
	—			—			(268	)		(3	)		—			—			—			(287	)
	(12	)		—			7,468			7			65			39			(23	)		(331	)


	(9,496	)		(20,013	)		(28,992	)		(18,093	)		(152,347	)		10,135			(39,600	)		(261,459	)





	(123,062	)		(23,193	)		(90,544	)		(28,488	)		(487,895	)		(104,154	)		(182,874	)		(494,265	)

	—			—			(313	)		5			—			—			—			—

	—			—			(7,581	)		9			(13	)		—			—			—



	(123,062	)		(23,193	)		(98,438	)		(28,474	)		(487,908	)		(104,154	)		(182,874	)		(494,265	)


	(132,558	)		(43,206	)		(127,430	)		(46,567	)		(640,255	)		(94,019	)		(222,474	)		(755,724	)


$	(121,641	)	$	(42,861	)	$	(121,674	)	$	(46,033	)	$	(634,475	)	$	(92,883	)	$	(221,652	)	$	(750,180	)

181

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Operations — (continued)

For the Year Ended December 31, 2008

(000’s Omitted)


	Hartford			Hartford			Hartford			Hartford
	High Yield			Index			International Growth			International Opportunities
	HLS Fund			HLS Fund			HLS Fund			HLS Fund

Investment Income:
Dividends	$	195		$	28,894		$	15,463		$	54,462
Interest		55,285			236			536			1,275
Securities lending		642			644			2,044			4,717
Less: Foreign tax withheld		—			(1	)		(1,914	)		(6,359	)

Total investment income, net		56,122			29,773			16,129			54,095


Expenses:
Investment management and advisory fees		2,849			1,271			4,607			8,744
Administrative service fees		1,149			2,542			1,543			3,703
Distribution fees — Class IB		444			516			542			754
Custodian fees		24			25			81			151
Accounting services		103			127			123			296
Board of Directors’ fees		12			27			17			36
Other expenses		88			127			136			235

Total expenses (before waivers and fees paid indirectly)		4,669			4,635			7,049			13,919
Expense waivers		—			—			—			—
Commission recapture		—			—			(60	)		(40	)
Custodian fee offset		(2	)		(4	)		(2	)		(11	)

Total waivers and fees paid indirectly		(2	)		(4	)		(62	)		(51	)

Total expenses, net		4,667			4,631			6,987			13,868

Net investment income (loss)		51,455			25,142			9,142			40,227


Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized gain (loss) on investments		(108,819	)		8,940			(426,271	)		(445,809	)
Net realized gain (loss) on futures, options and swap contracts		4,505			(10,519	)		—			—
Net realized gain (loss) on foreign currency transactions		226			—			(1,393	)		1,849

Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(104,088	)		(1,579	)		(427,664	)		(443,960	)


Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(97,929	)		(576,525	)		(171,617	)		(574,938	)
Net unrealized appreciation (depreciation) of futures, written options and swap contracts		1,219			155			—			—
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		(283	)		—			(19	)		(26	)

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(96,993	)		(576,370	)		(171,636	)		(574,964	)

Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(201,081	)		(577,949	)		(599,300	)		(1,018,924	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(149,626	)	$	(552,807	)	$	(590,158	)	$	(978,697	)

The accompanying notes are an integral part of these financial statements.

182


Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford			Hartford
International Small Company			LargeCap Growth			MidCap			MidCap Growth			MidCap Value			Money Market			Small Company			SmallCap Growth
HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund


$	7,298		$	1,714		$	25,411		$	556		$	10,058		$	—		$	8,035		$	4,211
	38			5			1,173			13			106			96,068			680			291
	937			156			2,786			104			687			—			3,318			1,480
	(725	)		—			(102	)		—			(74	)		—			(261	)		—

	7,548			1,875			29,268			673			10,777			96,068			11,772			5,982



	1,884			852			11,357			388			3,857			8,886			6,541			4,180
	590			—			4,933			—			1,330			7,896			2,718			—
	177			1			607			7			515			1,575			648			446
	66			7			19			10			19			7			64			33
	47			—			296			—			67			395			163			—
	8			3			46			2			14			58			26			15
	36			2			268			13			93			1,150			200			106

	2,808			865			17,526			420			5,895			19,967			10,360			4,780
	—			—			—			—			—			(1,974	)		—			—
	(9	)		—			(119	)		—			(41	)		—			(103	)		(7	)
	—			—			(13	)		—			(1	)		(5	)		(9	)		(4	)

	(9	)		—			(132	)		—			(42	)		(1,979	)		(112	)		(11	)

	2,799			865			17,394			420			5,853			17,988			10,248			4,769

	4,749			1,010			11,874			253			4,924			78,080			1,524			1,213




	(79,930	)		(42,170	)		(275,352	)		(19,677	)		(107,373	)		(13,032	)		(289,594	)		(144,217	)
	—			35			—			(582	)		—			—			(7,623	)		(495	)
	(322	)		—			(117	)		—			3			—			48			—


	(80,252	)		(42,135	)		(275,469	)		(20,259	)		(107,370	)		(13,032	)		(297,169	)		(144,712	)





	(79,529	)		(27,057	)		(733,462	)		(12,618	)		(227,771	)		—			(377,975	)		(144,433	)

	—			27			—			35			—			—			372			32

	(3	)		—			11			—			—			—			—			—



	(79,532	)		(27,030	)		(733,451	)		(12,583	)		(227,771	)		—			(377,603	)		(144,401	)


	(159,784	)		(69,165	)		(1,008,920	)		(32,842	)		(335,141	)		(13,032	)		(674,772	)		(289,113	)


$	(155,035	)	$	(68,155	)	$	(997,046	)	$	(32,589	)	$	(330,217	)	$	65,048		$	(673,248	)	$	(287,900	)

183

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Operations — (continued)

For the Year Ended December 31, 2008

(000’s Omitted)


	Hartford			Hartford			Hartford			Hartford
	SmallCap Value			Stock			Total Return Bond			U.S. Government Securities
	HLS Fund			HLS Fund			HLS Fund			HLS Fund

Investment Income:
Dividends	$	1,520		$	62,203		$	1,519		$	—
Interest		63			170			258,886			65,786
Securities lending		225			1,526			1,478			2,269
Less: Foreign tax withheld		(1	)		(1,056	)		—			—

Total investment income, net		1,807			62,843			261,883			68,055


Expenses:
Investment management and advisory fees		615			8,875			11,297			6,142
Administrative service fees		—			6,750			8,688			—
Distribution fees — Class IB		2			1,188			2,321			763
Custodian fees		9			40			90			4
Accounting services		—			338			782			—
Board of Directors’ fees		2			65			76			23
Other expenses		33			357			464			73

Total expenses (before waivers and fees paid indirectly)		661			17,613			23,718			7,005
Expense waivers		—			—			—			—
Commission recapture		—			(172	)		—			—
Custodian fee offset		(1	)		(9	)		(12	)		(2	)

Total waivers and fees paid indirectly		(1	)		(181	)		(12	)		(2	)

Total expenses, net		660			17,432			23,706			7,003

Net investment income (loss)		1,147			45,411			238,177			61,052


Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized gain (loss) on investments		(10,244	)		(720,656	)		(245,539	)		12,975
Net realized gain (loss) on futures, options and swap contracts		(394	)		—			38,376	*		(203	)†
Net realized gain (loss) on foreign currency transactions		—			16,161			15,301			(421	)

Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(10,638	)		(704,495	)		(191,862	)		12,351


Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(15,000	)		(1,106,236	)		(376,820	)		(91,882	)
Net unrealized appreciation (depreciation) of futures, written options and swap contracts		19			—			(6,142	)		2,673
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		—			(479	)		(7,467	)		1,320

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(14,981	)		(1,106,715	)		(390,429	)		(87,889	)

Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(25,619	)		(1,811,210	)		(582,291	)		(75,538	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(24,472	)	$	(1,765,799	)	$	(344,114	)	$	(14,486	)


^*		Realized gains on written options were $257 for the Total Return Bond Fund.
^†		Realized losses on written options were $5,701 for the U.S. Government Securities Fund.

The accompanying notes are an integral part of these financial statements.

184

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets

(000’s Omitted)


	Hartford						Hartford
	Advisers						Capital Appreciation
	HLS Fund						HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,
	2008			2007			2008			2007
Operations:
Net investment income (loss)	$	137,734		$	168,591		$	125,222		$	91,811
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(752,411	)		712,989			(2,043,113	)		2,986,342
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(1,448,267	)		(348,371	)		(4,503,815	)		(780,179	)

Net increase (decrease) in net assets resulting from operations		(2,062,944	)		533,209			(6,421,706	)		2,297,974


Distributions to Shareholders:
From net investment income
Class IA		(139,941	)		(142,547	)		(166,956	)		(14,174	)
Class IB		(20,362	)		(21,144	)		(30,787	)		(1,723	)
From net realized gain on investments
Class IA		(30,655	)		(690,218	)		(938,545	)		(1,956,055	)
Class IB		(5,074	)		(118,127	)		(219,929	)		(475,949	)
From tax return of capital
Class IA		—			—			—			—
Class IB		—			—			—			—

Total distributions		(196,032	)		(972,036	)		(1,356,217	)		(2,447,901	)


Capital Share Transactions:
Class IA
Sold		116,973			139,185			956,013			633,897
Issued on reinvestment of distributions		170,596			832,765			1,105,501			1,970,229
Redeemed		(1,235,301	)		(1,512,219	)		(1,832,987	)		(2,115,211	)

Total capital share transactions		(947,732	)		(540,269	)		228,527			488,915

Class IB
Sold		45,838			49,742			275,690			345,742
Issued on reinvestment of distributions		25,436			139,271			250,716			477,672
Redeemed		(282,515	)		(298,662	)		(721,700	)		(662,081	)

Total capital share transactions		(211,241	)		(109,649	)		(195,294	)		161,333

Net increase (decrease) from capital share transactions		(1,158,973	)		(649,918	)		33,233			650,248

Net increase (decrease) in net assets		(3,417,949	)		(1,088,745	)		(7,744,690	)		500,321

Net Assets:
Beginning of period		7,371,474			8,460,219			15,057,739			14,557,418

End of period	$	3,953,525		$	7,371,474		$	7,313,049		$	15,057,739

Accumulated undistributed (distribution in excess of) net investment income	$	5,796		$	11,397		$	(63,147	)	$	20,323


Shares:
Class IA
Sold		6,258			5,936			25,491			11,027
Issued on reinvestment of distributions		11,601			39,579			27,446			37,635
Redeemed		(69,104	)		(64,513	)		(46,572	)		(37,156	)

Total share activity		(51,245	)		(18,998	)		6,365			11,506

Class IB
Sold		2,395			2,106			6,314			6,042
Issued on reinvestment of distributions		1,697			6,552			6,168			9,201
Redeemed		(15,458	)		(12,626	)		(17,382	)		(11,659	)

Total share activity		(11,366	)		(3,968	)		(4,900	)		3,584

The accompanying notes are an integral part of these financial statements.

186


Hartford						Hartford						Hartford						Hartford
Disciplined Equity						Dividend and Growth						Equity Income						Fundamental Growth
HLS Fund						HLS Fund						HLS Fund						HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
2008			2007			2008			2007			2008			2007			2008			2007

$	16,289		$	19,013		$	129,268		$	123,136		$	10,917		$	10,566		$	345		$	149

	(218,077	)		156,780			(264,886	)		612,843			(9,496	)		25,600			(20,013	)		10,209


	(458,548	)		(27,593	)		(2,110,000	)		(149,327	)		(123,062	)		(2,157	)		(23,193	)		1,067

	(660,336	)		148,200			(2,245,618	)		586,652			(121,641	)		34,009			(42,861	)		11,425




	(14,060	)		(15,927	)		(108,479	)		(97,796	)		(9,570	)		(8,356	)		(145	)		(25	)
	(2,093	)		(2,623	)		(20,732	)		(21,463	)		(1,431	)		(1,370	)		—			(18	)

	(120,237	)		(5,290	)		(102,838	)		(454,662	)		(19,944	)		(15,712	)		(6,480	)		(4,412	)
	(25,188	)		(1,160	)		(24,561	)		(119,019	)		(3,405	)		(4,131	)		(3,226	)		(2,991	)

	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—

	(161,578	)		(25,000	)		(256,610	)		(692,940	)		(34,350	)		(29,569	)		(9,851	)		(7,446	)




	98,985			231,305			550,662			593,091			38,100			77,683			37,812			22,841
	134,297			21,217			211,317			552,458			29,514			24,068			6,625			4,437
	(249,432	)		(186,807	)		(946,202	)		(885,180	)		(87,980	)		(73,640	)		(33,217	)		(19,551	)

	(16,150	)		65,715			(184,223	)		260,369			(20,366	)		28,111			11,220			7,727


	19,992			26,025			106,679			129,203			8,095			18,050			13,636			10,561
	27,281			3,783			45,293			140,482			4,836			5,501			3,226			3,009
	(81,091	)		(68,372	)		(403,920	)		(355,119	)		(24,825	)		(59,932	)		(15,706	)		(14,148	)

	(33,818	)		(38,564	)		(251,948	)		(85,434	)		(11,894	)		(36,381	)		1,156			(578	)

	(49,968	)		27,151			(436,171	)		174,935			(32,260	)		(8,270	)		12,376			7,149

	(871,882	)		150,351			(2,938,399	)		68,647			(188,251	)		(3,830	)		(40,336	)		11,128

	1,906,529			1,756,178			7,344,151			7,275,504			463,113			466,943			94,021			82,893

$	1,034,647		$	1,906,529		$	4,405,752		$	7,344,151		$	274,862		$	463,113		$	53,685		$	94,021

$	1,554		$	1,453		$	6,857		$	6,911		$	893		$	1,001		$	343		$	145




	8,609			15,669			29,615			24,682			3,241			5,295			3,844			2,072
	11,409			1,430			12,502			24,780			2,670			1,651			680			413
	(21,365	)		(12,526	)		(51,011	)		(36,858	)		(7,468	)		(5,007	)		(3,872	)		(1,788	)

	(1,347	)		4,573			(8,894	)		12,604			(1,557	)		1,939			652			697


	1,607			1,753			5,386			5,346			714			1,228			1,428			959
	2,304			256			2,633			6,314			434			376			333			281
	(6,909	)		(4,617	)		(21,227	)		(14,854	)		(2,091	)		(4,039	)		(1,816	)		(1,303	)

	(2,998	)		(2,608	)		(13,208	)		(3,194	)		(943	)		(2,435	)		(55	)		(63	)

187

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)


							Hartford
	Hartford						Global Equity
	Global Advisers						HLS Fund
	HLS Fund						For the Period
	For the			For the			January 31,
	Year Ended			Year Ended			*2008^ through**
	December 31,			December 31,			December 31,
	2008			2007			2008
Operations:
Net investment income (loss)	$	5,756		$	6,275		$	534
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(28,992	)		24,943			(18,093	)
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(98,438	)		25,222			(28,474	)

Net increase (decrease) in net assets resulting from operations		(121,674	)		56,440			(46,033	)


Distributions to Shareholders:
From net investment income
Class IA		(11,289	)		(2,623	)		(354	)
Class IB		(2,077	)		(402	)		(194	)
From net realized gain on investments
Class IA		(4,823	)		(22,897	)		—
Class IB		(1,018	)		(4,923	)		—
From tax return of capital
Class IA		—			—			(99	)
Class IB		—			—			(63	)

Total distributions		(19,207	)		(30,845	)		(710	)


Capital Share Transactions:
Class IA
Sold		39,422			27,148			24,228
Issued in merger		—			—			84,930
Issued on reinvestment of distributions		16,112			25,520			453
Redeemed		(68,531	)		(63,301	)		(31,777	)

Total capital share transactions		(12,997	)		(10,633	)		77,834

Class IB
Sold		16,785			12,738			3,470
Issued in merger		—			—			51,765
Issued on reinvestment of distributions		3,095			5,325			257
Redeemed		(27,104	)		(19,377	)		(6,948	)

Total capital share transactions		(7,224	)		(1,314	)		48,544

Net increase (decrease) from capital share transactions		(20,221	)		(11,947	)		126,378

Net increase (decrease) in net assets		(161,102	)		13,648			79,635

Net Assets:
Beginning of period		384,222			370,574			—

End of period	$	223,120		$	384,222		$	79,635

Accumulated undistributed (distribution in excess of) net investment income	$	(319	)	$	(172	)	$	(10	)


Shares:
Class IA
Sold		3,217			1,983			2,566
Issued in merger		—			—			9,003
Issued on reinvestment of distributions		1,701			1,928			73
Redeemed		(6,232	)		(4,732	)		(3,743	)

Total share activity		(1,314	)		(821	)		7,899

Class IB
Sold		1,393			943			431
Issued in merger		—			—			5,495
Issued on reinvestment of distributions		324			404			42
Redeemed		(2,404	)		(1,441	)		(924	)

Total share activity		(687	)		(94	)		5,044


*		Commencement of operations

The accompanying notes are an integral part of these financial statements.

188


Hartford						Hartford						Hartford						Hartford
Global Growth						Global Health						Growth						Growth Opportunities
HLS Fund						HLS Fund						HLS Fund						HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
2008			2007			2008			2007			2008			2007			2008			2007

$	5,780		$	967		$	1,136		$	379		$	822		$	121		$	5,544		$	1,772

	(152,347	)		155,641			10,135			47,854			(39,600	)		41,638			(261,459	)		291,546

	(487,908	)		123,099			(104,154	)		(22,391	)		(182,874	)		43,194			(494,265	)		81,169

	(634,475	)		279,707			(92,883	)		25,842			(221,652	)		84,953			(750,180	)		374,487




	(4,785	)		(509	)		(1,001	)		(321	)		(748	)		(75	)		(4,411	)		(1,850	)
	(775	)		(153	)		(132	)		—			—			—			(203	)		(60	)

	(29,584	)		(107,687	)		(11,812	)		(41,637	)		(10,810	)		(25,705	)		(45,855	)		(220,443	)
	(8,357	)		(31,874	)		(4,194	)		(15,594	)		(4,725	)		(13,232	)		(8,404	)		(43,763	)

	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—

	(43,501	)		(140,223	)		(17,139	)		(57,552	)		(16,283	)		(39,012	)		(58,873	)		(266,116	)




	71,448			73,376			31,638			38,136			53,023			85,722			216,584			217,719
	—			—			—			—			—			—			—			—
	34,369			108,196			12,813			41,958			11,558			25,780			50,266			222,293
	(184,771	)		(203,272	)		(73,289	)		(87,505	)		(84,088	)		(132,764	)		(243,707	)		(222,459	)

	(78,954	)		(21,700	)		(28,838	)		(7,411	)		(19,507	)		(21,262	)		23,143			217,553


	31,692			33,680			14,778			14,532			21,162			23,323			55,321			83,662
	—			—			—			—			—			—			—			—
	9,132			32,027			4,326			15,594			4,725			13,232			8,607			43,823
	(81,116	)		(77,401	)		(34,536	)		(34,442	)		(61,704	)		(51,926	)		(94,271	)		(61,762	)

	(40,292	)		(11,694	)		(15,432	)		(4,316	)		(35,817	)		(15,371	)		(30,343	)		65,723

	(119,246	)		(33,394	)		(44,270	)		(11,727	)		(55,324	)		(36,633	)		(7,200	)		283,276

	(797,222	)		106,090			(154,292	)		(43,437	)		(293,259	)		9,308			(816,253	)		391,647


	1,328,631			1,222,541			395,459			438,896			578,972			569,664			1,693,034			1,301,387

$	531,409		$	1,328,631		$	241,167		$	395,459		$	285,713		$	578,972		$	876,781		$	1,693,034

$	270		$	12		$	76		$	43		$	143		$	118		$	588		$	94




	4,465			3,252			2,280			2,204			4,967			6,662			8,780			6,208
	—			—			—			—			—			—			—			—
	2,004			5,023			1,192			2,668			968			1,985			1,860			6,954
	(11,158	)		(9,286	)		(5,478	)		(5,057	)		(7,898	)		(10,419	)		(9,712	)		(6,570	)

	(4,689	)		(1,011	)		(2,006	)		(185	)		(1,963	)		(1,772	)		928			6,592


	1,976			1,493			1,076			850			1,963			1,801			2,152			2,405
	—			—			—			—			—			—			—			—
	513			1,496			410			1,009			389			1,034			309			1,386
	(4,866	)		(3,528	)		(2,559	)		(2,021	)		(5,748	)		(4,045	)		(3,689	)		(1,845	)

	(2,377	)		(539	)		(1,073	)		(162	)		(3,396	)		(1,210	)		(1,228	)		1,946

189

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)


	Hartford High Yield						Hartford Index
	HLS Fund						HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,
	2008			2007			2008			2007
Operations:
Net investment income (loss)	$	51,455		$	54,550		$	25,142		$	28,378
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(104,088	)		6,326			(1,579	)		106,154
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(96,993	)		(41,422	)		(576,370	)		(39,036	)

Net increase (decrease) in net assets resulting from operations		(149,626	)		19,454			(552,807	)		95,496


Distributions to Shareholders:
From net investment income
Class IA		(36,994	)		(36,170	)		(21,266	)		(23,589	)
Class IB		(15,413	)		(17,163	)		(3,640	)		(3,932	)
From net realized gain on investments
Class IA		—			—			(24,970	)		(79,243	)
Class IB		—			—			(4,911	)		(15,598	)
From tax return of capital
Class IA		—			—			—			—
Class IB		—			—			—			—

Total distributions		(52,407	)		(53,333	)		(54,787	)		(122,362	)


Capital Share Transactions:
Class IA
Sold		75,111			109,945			82,038			117,054
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		36,994			36,170			46,236			102,832
Redeemed		(137,520	)		(134,040	)		(292,603	)		(406,211	)

Total capital share transactions		(25,415	)		12,075			(164,329	)		(186,325	)

Class IB
Sold		34,771			47,142			41,948			78,279
Issued on reinvestment of distributions		15,413			17,163			8,551			19,530
Redeemed		(87,247	)		(95,398	)		(85,275	)		(96,850	)

Total capital share transactions		(37,063	)		(31,093	)		(34,776	)		959

Net increase (decrease) from capital share transactions		(62,478	)		(19,018	)		(199,105	)		(185,366	)

Net increase (decrease) in net assets		(264,511	)		(52,897	)		(806,699	)		(212,232	)

Net Assets:
Beginning of period		682,955			735,852			1,662,794			1,875,026

End of period	$	418,444		$	682,955		$	856,095		$	1,662,794

Accumulated undistributed (distribution in excess of) net investment income	$	1,269		$	1,988		$	1,442		$	1,095


Shares:
Class IA
Sold		9,534			11,452			3,273			3,474
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		6,801			4,074			2,143			3,288
Redeemed		(16,982	)		(14,012	)		(11,223	)		(12,047	)

Total share activity		(647	)		1,514			(5,807	)		(5,285	)

Class IB
Sold		4,423			4,960			1,603			2,330
Issued on reinvestment of distributions		2,855			1,951			394			627
Redeemed		(10,679	)		(10,093	)		(3,274	)		(2,887	)

Total share activity		(3,401	)		(3,182	)		(1,277	)		70

The accompanying notes are an integral part of these financial statements.

190


Hartford International						Hartford International						Hartford International						Hartford LargeCap
Growth HLS Fund						Opportunities HLS Fund						Small Company HLS Fund						Growth HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
2008			2007			2008			2007			2008			2007			2008			2007

$	9,142		$	6,689		$	40,227		$	23,331		$	4,749		$	3,372		$	1,010		$	997

	(427,664	)		201,205			(443,960	)		444,474			(80,252	)		66,157			(42,135	)		19,586


	(171,636	)		1,940			(574,964	)		49,261			(79,532	)		(31,975	)		(27,030	)		(11,913	)

	(590,158	)		209,834			(978,697	)		517,066			(155,035	)		37,554			(68,155	)		8,670




	(5,176	)		(5,134	)		(33,867	)		(21,053	)		(2,518	)		(5,435	)		(1,044	)		(968	)
	(1,376	)		(1,462	)		(5,334	)		(3,363	)		(585	)		(1,587	)		(22	)		—

	(30,379	)		(129,052	)		(67,380	)		(362,704	)		(6,945	)		(50,208	)		—			(13,191	)
	(11,747	)		(57,554	)		(13,034	)		(75,930	)		(2,190	)		(17,492	)		—			—

	—			—			—			—			—			—			(16,801	)		—
	—			—			—			—			—			—			(37	)		—

	(48,678	)		(193,202	)		(119,615	)		(463,050	)		(12,238	)		(74,722	)		(17,904	)		(14,159	)




	98,925			186,793			203,674			229,936			36,629			91,442			10,513			4,586
	—			—			—			99,957			—			—			—			69,913
	35,555			134,186			101,247			383,757			9,463			55,643			17,845			14,159
	(172,120	)		(112,111	)		(365,227	)		(321,451	)		(97,618	)		(101,171	)		(26,940	)		(50,754	)

	(37,640	)		208,868			(60,306	)		392,199			(51,526	)		45,914			1,418			37,904


	30,332			52,273			49,255			49,416			11,458			23,930			2,705			—
	13,123			59,016			18,368			79,293			2,775			19,079			59			—
	(93,474	)		(85,820	)		(117,772	)		(109,128	)		(40,614	)		(45,626	)		(331	)		—

	(50,019	)		25,469			(50,149	)		19,581			(26,381	)		(2,617	)		2,433			—

	(87,659	)		234,337			(110,455	)		411,780			(77,907	)		43,297			3,851			37,904

	(726,495	)		250,969			(1,208,767	)		465,796			(245,180	)		6,129			(82,208	)		32,415


	1,128,504			877,535			2,444,222			1,978,426			418,040			411,911			171,565			139,150

$	402,009		$	1,128,504		$	1,235,455		$	2,444,222		$	172,860		$	418,040		$	89,357		$	171,565


$	410		$	(727	)	$	1,291		$	(1,273	)	$	9		$	(2,493	)	$	20		$	76




	9,267			11,976			16,513			13,760			2,762			5,123			785			227
	—			—			—			5,347			—			—			—			3,338
	3,502			9,523			8,948			25,242			805			3,721			1,137			702
	(17,407	)		(7,300	)		(30,701	)		(19,373	)		(8,188	)		(5,693	)		(1,778	)		(2,490	)

	(4,638	)		14,199			(5,240	)		24,976			(4,621	)		3,151			144			1,777


	3,065			3,390			3,955			2,912			883			1,338			248			—
	1,258			4,210			1,571			5,158			230			1,285			4			—
	(9,093	)		(5,625	)		(9,716	)		(6,533	)		(3,429	)		(2,586	)		(28	)		—

	(4,770	)		1,975			(4,190	)		1,537			(2,316	)		37			224			—

191

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)


	Hartford						Hartford
	MidCap						MidCap Growth
	HLS Fund						HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,
	2008			2007			2008			2007
Operations:
Net investment income (loss)	$	11,874		$	6,022		$	253		$	144
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(275,469	)		517,633			(20,259	)		5,340
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(733,451	)		(93,641	)		(12,583	)		504
Payment from (to) affiliate		—			—			—			114

Net increase (decrease) in net assets resulting from operations		(997,046	)		430,014			(32,589	)		6,102


Distributions to Shareholders:
From net investment income
Class IA		(11,518	)		(13,049	)		(198	)		(249	)
Class IB		(662	)		(704	)		(34	)		—
From net realized gain on investments
Class IA		(107,439	)		(409,560	)		(479	)		(8,725	)
Class IB		(11,813	)		(45,783	)		(10	)		—
From tax return of capital
Class IA		—			—			—			—
Class IB		—			—			—			—

Total distributions		(131,432	)		(469,096	)		(721	)		(8,974	)


Capital Share Transactions:
Class IA
Sold		202,668			279,508			33,954			3,575
Issued on in-kind transactions		—			—			—			—
Issued on reinvestment of distributions		118,957			422,609			677			8,974
Redeemed		(468,346	)		(559,361	)		(17,842	)		(11,876	)

Total capital share transactions		(146,721	)		142,756			16,789			673

Class IB
Sold		39,487			65,472			14,890			—
Issued on reinvestment of distributions		12,475			46,487			44			—
Redeemed		(73,130	)		(78,167	)		(2,460	)		—

Total capital share transactions		(21,168	)		33,792			12,474			—

Net increase (decrease) from capital share transactions		(167,889	)		176,548			29,263			673

Net increase (decrease) in net assets		(1,296,367	)		137,466			(4,047	)		(2,199	)

Net Assets:
Beginning of period		3,018,436			2,880,970			51,196			53,395

End of period	$	1,722,069		$	3,018,436		$	47,149		$	51,196

Accumulated undistributed (distribution in excess of) net investment income	$	890		$	1,433		$	7		$	—


Shares:
Class IA
Sold		9,224			9,379			4,435			307
Issued on in-kind transactions		—			—			—			—
Issued on reinvestment of distributions		4,954			16,015			87			839
Redeemed		(21,500	)		(18,842	)		(2,346	)		(1,030	)

Total share activity		(7,322	)		6,552			2,176			116

Class IB
Sold		1,775			2,201			2,006			—
Issued on reinvestment of distributions		512			1,779			8			—
Redeemed		(3,327	)		(2,659	)		(383	)		—

Total share activity		(1,040	)		1,321			1,631			—


^*		During the year ended December 31, 2007 , Hartford Small Company HLS Fund received in-kind subscriptions of securities from a shareholder in exchange for shares of this fund.

The accompanying notes are an integral part of these financial statements.

192


Hartford						Hartford						Hartford						Hartford
MidCap Value						Money Market						Small Company						SmallCap Growth
HLS Fund						HLS Fund						HLS Fund						HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
2008			2007			2008			2007			2008			2007			2008			2007

$	4,924		$	4,895		$	78,080		$	108,541		$	1,524		$	(1,112	)	$	1,213		$	4,452

	(107,370	)		149,454			(13,032	)		52			(297,169	)		176,151			(144,712	)		69,858

	(227,771	)		(117,134	)		—			—			(377,603	)		26,360			(144,401	)		(86,281	)
	—			—			—			—			—			3,000			—			—

	(330,217	)		37,215			65,048			108,593			(673,248	)		204,399			(287,900	)		(11,971	)




	(3,163	)		(3,686	)		(65,065	)		(90,770	)		(1,145	)		(2,999	)		(2,112	)		(1,968	)
	(837	)		(906	)		(11,060	)		(17,771	)		—			—			(532	)		(52	)

	(103,240	)		(111,146	)		—			(43	)		(3,860	)		(187,848	)		(3,717	)		(50,679	)
	(45,610	)		(56,292	)		—			(9	)		(935	)		(49,715	)		(1,367	)		(18,161	)

	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—

	(152,850	)		(172,030	)		(76,125	)		(108,593	)		(5,940	)		(240,562	)		(7,728	)		(70,860	)




	49,251			18,402			4,105,607			2,394,176			264,282			270,005			55,867			64,470
	—			—			—			—			—			12,557	*		—			—
	106,403			114,832			64,851			90,667			5,005			190,847			5,829			52,647
	(135,202	)		(148,794	)		(1,958,058	)		(1,819,153	)		(216,867	)		(290,452	)		(153,270	)		(161,711	)

	20,452			(15,560	)		2,212,400			665,690			52,420			182,957			(91,574	)		(44,594	)


	12,063			12,383			765,243			503,545			102,296			85,328			27,209			32,345
	46,447			57,198			11,013			17,750			935			49,715			1,899			18,213
	(81,448	)		(95,514	)		(453,017	)		(388,244	)		(109,193	)		(120,205	)		(62,026	)		(74,858	)

	(22,938	)		(25,933	)		323,239			133,051			(5,962	)		14,838			(32,918	)		(24,300	)

	(2,486	)		(41,493	)		2,535,639			798,741			46,458			197,795			(124,492	)		(68,894	)

	(485,553	)		(176,308	)		2,524,562			798,741			(632,730	)		161,632			(420,120	)		(151,725	)


	915,932			1,092,240			2,677,100			1,878,359			1,605,219			1,443,587			868,277			1,020,002

$	430,379		$	915,932		$	5,201,662		$	2,677,100		$	972,489		$	1,605,219		$	448,157		$	868,277


$	759		$	90		$	1,955		$	—		$	(5	)	$	(161	)	$	405		$	2,211




	5,084			1,334			4,105,606			2,394,177			17,252			13,231			3,536			3,015
	—			—			—			—			—			614	*		—			—
	12,605			8,127			64,851			90,667			331			10,324			364			2,865
	(15,662	)		(10,473	)		(1,958,057	)		(1,819,153	)		(14,953	)		(14,477	)		(9,427	)		(7,517	)

	2,027			(1,012	)		2,212,400			665,691			2,630			9,692			(5,527	)		(1,637	)


	1,239			940			765,243			503,545			6,753			4,302			1,653			1,510
	5,501			4,058			11,013			17,750			55			2,744			112			993
	(9,022	)		(6,797	)		(453,017	)		(388,245	)		(7,310	)		(6,155	)		(3,910	)		(3,516	)

	(2,282	)		(1,799	)		323,239			133,050			(502	)		891			(2,145	)		(1,013	)

193

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)


	Hartford						Hartford
	SmallCap Value						Stock
	HLS Fund						HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31,			December 31,			December 31,			December 31,
	2008			2007			2008			2007
Operations:
Net investment income (loss)	$	1,147		$	1,241		$	45,411		$	49,070
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(10,638	)		8,626			(704,495	)		591,094
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(14,981	)		(13,235	)		(1,106,715	)		(328,015	)

Net increase (decrease) in net assets resulting from operations		(24,472	)		(3,368	)		(1,765,799	)		312,149


Distributions to Shareholders:
From net investment income
Class IA		(898	)		(1,157	)		(55,854	)		(41,670	)
Class IB		(42	)		(3	)		(7,717	)		(5,163	)
From net realized gain on investments
Class IA		(619	)		(10,609	)		(17,986	)		(578,175	)
Class IB		(3	)		(26	)		(2,943	)		(97,285	)
From tax return of capital
Class IA		—			—			—			—
Class IB		—			—			—			—

Total distributions		(1,562	)		(11,795	)		(84,500	)		(722,293	)


Capital Share Transactions:
Class IA
Sold		22,815			5,353			99,200			115,886
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		1,517			11,766			73,840			619,845
Redeemed		(22,636	)		(22,338	)		(679,323	)		(972,979	)

Total capital share transactions		1,696			(5,219	)		(506,283	)		(237,248	)

Class IB
Sold		5,425			138			38,771			31,937
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		45			29			10,660			102,448
Redeemed		(2,176	)		(54	)		(156,074	)		(181,913	)

Total capital share transactions		3,294			113			(106,643	)		(47,528	)

Net increase (decrease) from capital share transactions		4,990			(5,106	)		(612,926	)		(284,776	)

Net increase (decrease) in net assets		(21,044	)		(20,269	)		(2,463,225	)		(694,920	)

Net Assets:
Beginning of period		82,135			102,404			4,561,883			5,256,803

End of period	$	61,091		$	82,135		$	2,098,658		$	4,561,883

Accumulated undistributed (distribution in excess of) net investment income	$	207		$	20		$	3,404		$	5,586


Shares:
Class IA
Sold		2,533			410			2,511			2,114
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		190			1,084			2,504			12,999
Redeemed		(2,481	)		(1,705	)		(17,972	)		(17,700	)

Total share activity		242			(211	)		(12,957	)		(2,587	)

Class IB
Sold		630			11			979			584
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		6			3			356			2,152
Redeemed		(264	)		(4	)		(4,089	)		(3,313	)

Total share activity		372			10			(2,754	)		(577	)

The accompanying notes are an integral part of these financial statements.

194


Hartford						Hartford						Hartford						Hartford
Total Return Bond						U.S. Government Securities						Value						Value Opportunities
HLS Fund						HLS Fund						HLS Fund						HLS Fund
For the			For the			For the			For the			For the			For the			For the			For the
Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
2008			2007			2008			2007			2008			2007			2008			2007

$	238,177		$	224,153		$	61,052		$	53,671		$	7,039		$	5,928		$	5,413		$	7,956

	(191,862	)		28,805			12,351			1,189			(15,757	)		29,037			(104,532	)		68,339


	(390,429	)		(58,854	)		(87,889	)		(7,205	)		(147,204	)		2,032			(102,911	)		(113,648	)

	(344,114	)		194,104			(14,486	)		47,655			(155,922	)		36,997			(202,030	)		(37,353	)




	(229,728	)		(179,134	)		(90,757	)		(31,893	)		(5,443	)		(4,090	)		(5,878	)		(6,367	)
	(52,707	)		(51,864	)		(23,756	)		(10,663	)		(1,368	)		(1,347	)		(1,188	)		(1,317	)

	—			—			—			—			(19,448	)		(26,740	)		(2,173	)		(72,368	)
	—			—			—			—			(6,202	)		(13,121	)		(539	)		(19,778	)

	—			—			—			—			—			—			—			—
	—			—			—			—			—			—			—			—

	(282,435	)		(230,998	)		(114,513	)		(42,556	)		(32,461	)		(45,298	)		(9,778	)		(99,830	)




	770,573			664,704			408,877			284,224			92,740			103,127			33,836			104,697
	—			—			280,383			—			—			—			—			—
	229,728			179,134			90,757			31,893			24,891			30,830			8,051			78,735
	(790,149	)		(396,537	)		(360,139	)		(106,553	)		(85,040	)		(78,091	)		(127,764	)		(126,355	)

	210,152			447,301			419,878			209,564			32,591			55,866			(85,877	)		57,077


	148,834			160,718			92,738			57,814			12,190			18,968			12,548			30,962
	—			—			86,403			—			—			—			—			—
	52,707			51,864			23,756			10,663			7,570			14,468			1,727			21,095
	(371,685	)		(209,678	)		(139,510	)		(62,720	)		(42,510	)		(47,778	)		(47,321	)		(66,189	)

	(170,144	)		2,904			63,387			5,757			(22,750	)		(14,342	)		(33,046	)		(14,132	)

	40,008			450,205			483,265			215,321			9,841			41,524			(118,923	)		42,945

	(586,541	)		413,311			354,266			220,420			(178,542	)		33,223			(330,731	)		(94,238	)


	4,495,040			4,081,729			1,223,022			1,002,602			459,340			426,117			578,561			672,799

$	3,908,499		$	4,495,040		$	1,577,288		$	1,223,022		$	280,798		$	459,340		$	247,830		$	578,561


$	(15,005	)	$	12,254		$	910		$	54,273		$	1,020		$	811		$	314		$	595




	71,178			58,227			37,289			25,680			8,236			7,832			2,692			5,139
	—			—			26,154			—			—			—			—			—
	24,309			16,235			8,757			2,960			2,427			2,339			827			4,986
	(73,845	)		(34,707	)		(33,172	)		(9,620	)		(8,227	)		(5,923	)		(10,215	)		(6,303	)

	21,642			39,755			39,028			19,020			2,436			4,248			(6,696	)		3,822


	13,597			14,160			8,515			5,269			1,098			1,428			975			1,531
	—			—			8,094			—			—			—			—			—
	5,593			4,722			2,298			993			729			1,098			174			1,334
	(34,668	)		(18,438	)		(12,893	)		(5,685	)		(3,952	)		(3,613	)		(3,745	)		(3,263	)

	(15,478	)		444			6,014			577			(2,125	)		(1,087	)		(2,596	)		(398	)

195

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements
December 31, 2008
(000’s Omitted)


1.	Organization:

The Hartford HLS Funds serve as underlying investment options for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company and its affiliates (“HLIC”) and certain qualified retirement plans. Certain Hartford HLS Funds may also serve as underlying investment options for certain variable annuity and variable life separate accounts of other insurance companies. Owners of variable annuity contracts and policyholders of variable life insurance contracts may choose the funds permitted in the accompanying variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the funds permitted by their plans.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. (each a “Company” or together the “Companies”) are open-end management investment companies comprised of forty-one portfolios. Thirty portfolios are included in these financial statements. They are Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Equity HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Growth HLS Fund, Hartford Growth Opportunities HLS Fund, Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford LargeCap Growth HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Growth HLS Fund, Hartford MidCap Value HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford SmallCap Value HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund, Hartford U.S. Government Securities HLS Fund, Hartford Value HLS Fund and Hartford Value Opportunities HLS Fund (each a “Fund” or together the “Funds”).

The Companies are organized under the laws of the State of Maryland and are registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”), as diversified open-end management investment companies, except for Hartford Global Health HLS Fund, which is non-diversified.

Each Fund is divided into Class IA and Class IB shares. Each class is offered at the per share net asset value (“NAV”) without a sales charge and is subject to the same expenses, except that the Class IB shares are subject to distribution fees charged pursuant to Distribution and Service Plans. These Distribution and Service Plans have been adopted in accordance with Rule 12b-1 of the 1940 Act.


2.	Significant Accounting Policies:

The following is a summary of significant accounting policies of the Funds, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).


	a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

Trade date for senior floating rate interests purchased in the primary market is considered the date on which the loan allocations are determined. Trade date for senior floating rate interests purchased in the secondary market is the date on which the transaction is entered into.

Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.


	b)	Security Valuation — Except for Hartford Money Market HLS Fund, the Funds generally use market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, a Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of that Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which a Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, each Fund uses a fair value pricing service approved by that Fund’s Board of Directors, which employs quantitative models which evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, ETF’s) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Funds. The value of the portfolio securities of a Fund that invests in foreign securities may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Funds may cause the NAV of their respective shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that any Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which that Fund determines its NAV.

Debt securities (other than short-term obligations and senior floating rate interests) held by the Funds are valued on the basis of valuations furnished by an independent pricing service which determines valuations for normal institutional size trading units of debt securities. Senior floating rate interests generally trade in over-the-counter (“OTC”) markets and are priced through an independent pricing service utilizing independent market quotations from loan dealers or financial institutions. Securities for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in the securities in accordance with procedures established by that Fund’s Board of Directors. Generally, each Fund may use fair valuation in regard to debt securities when a Fund holds defaulted or distressed securities or securities in a company in which a reorganization is pending. Short-term investments with a maturity of more than 60 days when purchased are valued based on

196

market quotations until the remaining days to maturity become less than 61 days. The Hartford Money Market HLS Fund’s investments and investments of other Funds that mature in 60 days or less are valued at amortized cost, which approximates fair value.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another OTC market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Options contracts on securities, currencies, indexes, futures contracts, commodities and other instruments shall be valued at their most recent sales price at the Valuation Time on the Primary Market on which the instrument is traded. If the instrument did not trade on the Primary Market, it may be valued at the most recent sales price at the Valuation Time on another exchange or market where it did trade.

Futures contracts are valued at the most recent settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the mean of the closing bid/ask prices as of the Valuation Time.

Financial instruments for which prices are not available from an independent pricing service are valued using market quotations obtained from one or more dealers that make markets in securities in accordance with procedures established by the Funds’ Board of Directors.

A forward currency contract shall be valued based on the price of the underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Swaps are valued based on custom valuations furnished by an independent pricing service. Swaps for which prices are not available from an independent pricing service are valued in accordance with procedures established by the Funds’ Board of Directors.

Other derivative or contractual type instruments shall be valued using market prices if such instruments trade on an exchange or market. If such instruments do not trade on an exchange or market, such instruments shall be valued at a price at which the counterparty to such contract would repurchase the instrument. In the event that the counterparty cannot provide a price, such valuation may be determined in accordance with procedures established by the Funds’ Board of Directors.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.


	c)	Foreign Currency Transactions — The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

The Funds do not isolate that portion of portfolio security valuation resulting from fluctuations in the foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.

Net realized foreign exchange gains or losses arise from sales of foreign currencies and the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.


	d)	Securities Lending — The Funds, except for the Hartford Money Market HLS Fund, may lend their securities to certain qualified brokers who pay these Funds negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.

While securities are on loan, each Fund is subject to the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. No Funds had securities on loan as of December 31, 2008.


	e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Funds may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”), or Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.

	f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Funds enter into a repurchase agreement, the value of the underlying collateral security(ies),

197

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


		including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by each Fund’s custodian in book entry or physical form in the custodial account of the Funds or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. Certain Funds, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2008.


	g)	Reverse Repurchase Agreements — Each Fund, except Hartford Index HLS Fund, may also enter into reverse repurchase agreements. Reverse repurchase agreements involve sales by a Fund of portfolio assets concurrently with an agreement by the Fund to repurchase the same assets at a later date at a fixed price. Reverse repurchase agreements carry the risk that the market value of the securities which a Fund is obligated to repurchase may decline below the repurchase price. A reverse repurchase agreement is viewed as a collateralized borrowing by a Fund. Borrowing magnifies the potential for gain or loss on the portfolio securities of a Fund and, therefore, increases the possibility of a fluctuation in the Fund’s NAV. Reverse Repurchase Agreements are valued at proceeds plus accrued interest. There were no outstanding reverse repurchase agreements as of December 31, 2008.

	h)	Forward Foreign Currency Contracts — Each Fund may enter into forward foreign currency contracts that obligate the Funds to repurchase/replace or sell currencies at specified future dates. The Funds may enter into forward foreign currency contracts to hedge against adverse fluctuations in exchange rates between currencies.

Forward foreign currency contracts involve elements of market risk in excess of the amount reflected in the Statements of Assets and Liabilities. In addition, risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of the contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar. Certain Funds as shown in the Schedule of Investments, had open forward foreign currency contracts as of December 31, 2008.


	i)	Indexed Securities — The Funds may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Funds use these securities to increase or decrease their exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. Certain Funds had investments in indexed securities, as of December 31, 2008, as shown in the Schedule of Investments under Exchange Traded Funds.

	j)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Funds’ shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of each Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of each Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of a Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

Dividends are declared pursuant to a policy adopted by the Funds’ Board of Directors based upon the investment performance of the Funds. The policy of all Funds, except Hartford Money Market HLS Fund, is to pay dividends from net investment income and distribute realized capital gains, if any, at least once a year.

Hartford Money Market HLS Fund seeks to maintain a stable NAV of $1.00 by declaring a daily dividend from net investment income, including net short-term capital gains and losses, and by valuing its investments using the amortized cost method, which approximates fair value. Dividends are declared daily and distributed monthly.

Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. These differences include foreign currency gains and losses, losses deferred due to wash sales adjustments, related to Passive Foreign Investment Companies and certain derivatives, and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Funds’ capital accounts (see Note 4 (d)).


	k)	Illiquid and Restricted Securities — Each Fund is permitted to invest up to 15% of its net assets in illiquid securities, except for Hartford Money Market HLS Fund which may invest up to 10% in such securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine a Fund’s NAV. A Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on NAV. Each Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Funds’ Board of Directors. Certain Funds, as shown in the Schedule of Investments, had illiquid or restricted securities as of December 31, 2008.

	l)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Funds on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities

198


		are subject to market fluctuations, and the Funds identify securities segregated in their records with value at least equal to the amount of the commitment. As of December 31, 2008, the Funds had entered into outstanding when-issued or forward commitments as follows:


Fund	Cost

Hartford Advisers HLS Fund	$	65,622
Hartford Global Advisers HLS Fund		2,590
Hartford High Yield HLS Fund		1,903
Hartford Total Return Bond HLS Fund		892


	m)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, lower rated bonds have higher credit risk. High yield bond prices can fall on bad news about the economy, an industry or a company. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.

	n)	Senior Floating Rate Interests — Certain Funds, as shown in the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default and generally pay higher interest rates than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.

	o)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.

Senior floating rate interests or debt securities purchased to replace a prepaid loan or a debt security may have lower yields than the yield on the prepaid loan or debt security. Senior floating rate interests generally are subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for the Borrower to repay, prepayments of senior floating rate interests may occur. As a result, the actual remaining maturity of senior floating rate interests held may be substantially less than the stated maturities shown in the Schedule of Investments.


	p)	Swaps — Certain Funds may enter into event linked swaps, including credit default swaps. The credit default swap market allows a Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract.

Certain Funds may enter into interest rate swaps. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate multiplied by a “notional principal amount,” in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. If a swap agreement provides for payments in different currencies, the parties might agree to exchange the notional principal amount as well. Swaps may also depend on other prices or rates, such as the value of an index or mortgage prepayment rates. Certain funds, as shown in the Schedule of Investments, had outstanding swaps as of December 31, 2008.


	q)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

	r)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective January 1, 2008, the Funds adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Funds’ investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:


	•	Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, repurchase agreements and rights and warrants.

199

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


	•	Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and which are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.
	•	Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and requires significant management judgment or estimation. This category includes broker-quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than that presented above, as individual circumstances dictate.

FAS 157 also requires that a roll forward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.

Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedules of Investments.


	s)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk- related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

	t)	Indemnifications: Under the Companies’ organizational documents, each Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Companies, on behalf of the Funds, may enter into contracts that contain a variety of indemnifications. The Companies’ maximum exposure under these arrangements is unknown. However, the Companies have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.


3.	Futures and Options Transactions:

Certain Funds may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Funds enter into such futures contracts, they are required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Funds.

At any time prior to the expiration of the futures contract, a Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of variation margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statements of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Funds’ strategies and potentially result in loss. Certain Funds, as shown on the Schedule of Investments, had outstanding futures contracts as of December 31, 2008.

The premium paid by a Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Funds may write covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. A Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a

200

risk of loss from a change in the value of such options, which may exceed the related premiums received. Transactions involving written options contracts for the Funds during the year ended December 31, 2008 are summarized below:


	Hartford Advisers HLS Fund
	Options Contracts Activity During the
	Year Ended December 31, 2008
Put Options Written During the Period	Number of Contracts*			Premium Amounts

Beginning of the period		—		$	—
Written		5,300			1,413
Expired		—			—
Closed		(5,300	)		(1,413	)
Exercised		—			—

End of Period		—		$	—


	Hartford Disciplined Equity HLS Fund
	Options Contracts Activity During the
	Year Ended December 31, 2008
Call Options Written During the Period	Number of Contracts*			Premium Amounts

Beginning of the period		2,652		$	293
Written		25,356			2,666
Expired		(17,811	)		(1,603	)
Closed		(7,133	)		(904	)
Exercised		(1,047	)		(261	)

End of Period		2,017		$	191


Put Options Written During the Period	Number of Contracts*			Premium Amounts

Beginning of the period		—		$	—
Written		12,378			880
Expired		(7,359	)		(557	)
Closed		(871	)		(93	)
Exercised		(895	)		(92	)

End of Period		3,253		$	138


	Hartford Total Return Bond HLS Fund
	Options Contracts Activity During the
	Year Ended December 31, 2008
Call Options Written During the Period	Number of Contracts*			Premium Amounts

Beginning of the period		—		$	—
Written		1,370			710
Expired		—			—
Closed		(1,370	)		(710	)
Exercised		—			—

End of Period		—		$	—


	Hartford U.S. Government
	Securities HLS Fund
	Options Contracts Activity During the
	Year Ended December 31, 2008
Call Options Written During the Period	Number of Contracts*			Premium Amounts

Beginning of the period		—		$	—
Written		29,636			19,594
Expired		—			—
Closed		(27,950	)		(19,546	)
Exercised		—			—

End of Period		1,686		$	48

201

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


Put Options Written During the Period	Number of Contracts*			Premium Amounts

Beginning of the period		—		$	—
Written		7,684			3,534
Expired		(1,718	)		(747	)
Closed		(5,201	)		(1,928	)
Exercised		—			—

End of Period		765		$	859

* The number of contracts does not omit 000’s.


4.	Federal Income Taxes:


	a)	Federal Income Taxes — For federal income tax purposes, the Funds intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of their taxable net investment income and net realized capital gains to their shareholders and otherwise complying with the requirements of regulated investment companies. The Funds have distributed substantially all of their income and capital gains in prior years and each Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distribution for federal income tax purposes.

	b)	Net investment income (loss ) and net realized gains (losses) may differ for financial statement and tax purposes primarily because of wash sale transactions, amortization adjustments, and differing tax treatment for investments in PFICs, derivatives, REITs, RICs, and partnerships. The character of distributions made during the year from net investment income or realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividend distributions, the fiscal year in which amounts are distributed may differ from the year that the income or realized gains (losses) were recorded by the Funds.

	c)	The tax character of distributions paid for the periods indicated is as follows (as adjusted for dividends payable):


	For the Year Ended						For the Year Ended
	December 31, 2008						December 31, 2007
			Long-Term		Tax				Long-Term
	Ordinary		Capital		return of		Ordinary		Capital
	Income		Gains(a)		capital		Income		Gains(a)

Hartford Advisers HLS Fund	$	165,176	$	30,856	$	—	$	685,113	$	286,923
Hartford Capital Appreciation HLS Fund		484,893		871,324		—		706,183		1,741,718
Hartford Disciplined Equity HLS Fund		34,131		127,447		—		25,000		—
Hartford Dividend and Growth HLS Fund		148,624		107,986		—		162,791		530,149
Hartford Equity Income HLS Fund		11,001		23,349		—		13,741		15,828
Hartford Fundamental Growth HLS Fund		8,938		913		—		6,489		957
Hartford Global Advisers HLS Fund		14,026		5,181		—		9,527		21,318
Hartford Global Equity HLS Fund*		548		—		162		—		—
Hartford Global Growth HLS Fund		9,441		34,060		—		32,462		107,761
Hartford Global Health HLS Fund		3,278		13,861		—		11,053		46,499
Hartford Growth HLS Fund		3,714		12,569		—		4,132		34,880
Hartford Growth Opportunities HLS Fund		24,880		33,993		—		163,824		102,292
Hartford High Yield HLS Fund		52,407		—		—		53,333		—
Hartford Index HLS Fund		25,681		29,106		—		29,201		93,161
Hartford International Growth HLS Fund		31,760		16,918		—		103,923		89,279
Hartford International Opportunities HLS Fund		97,735		21,880		—		218,997		244,053
Hartford International Small Company HLS Fund		5,940		6,298		—		39,913		34,809
Hartford LargeCap Growth HLS Fund		1,066		—		16,838		968		13,191
Hartford MidCap HLS Fund		61,086		70,346		—		142,144		326,952
Hartford MidCap Growth HLS Fund		512		209		—		7,374		1,600
Hartford MidCap Value HLS Fund		29,469		123,381		—		40,878		131,152
Hartford Money Market HLS Fund		76,078		—		—		108,593		—
Hartford Small Company HLS Fund		1,146		4,794		—		152,417		88,145
Hartford SmallCap Growth HLS Fund		3,785		3,943		—		2,786		68,074
Hartford SmallCap Value HLS Fund		1,364		198		—		6,498		5,297
Hartford Stock HLS Fund		78,096		6,404		—		460,819		261,474
Hartford Total Return Bond HLS Fund		282,435		—		—		230,998		—
Hartford U.S. Government Securities HLS Fund		114,513		—		—		42,556		—
Hartford Value HLS Fund		12,907		19,554		—		12,009		33,289
Hartford Value Opportunities HLS Fund		8,082		1,696		—		26,838		72,992

* Commenced operations on January 31, 2008.


	(a)	The Funds designate these distributions as long-term gain capital dividends per IRC code Sec. 852(b)(3)(C).

202

As of December 31, 2008, the components of distributable earnings (deficit) on tax basis were as follows:


											Total
	Undistributed		Undistributed		Accumulated			Unrealized			Accumulated
	Ordinary		Long-Term		Capital and Other			Appreciation			Earnings
	Income		Capital Gain		Losses*			(Depreciation)@			(Deficit)

Hartford Advisers HLS Fund	$	5,821	$	—	$	(716,620	)	$	(1,431,790	)	$	(2,142,589	)
Hartford Capital Appreciation HLS Fund		—		—		(1,588,323	)		(3,363,138	)		(4,951,461	)
Hartford Disciplined Equity HLS Fund		1,554		—		(228,657	)		(256,600	)		(483,703	)
Hartford Dividend and Growth HLS Fund		6,857		—		(252,046	)		(757,455	)		(1,002,644	)
Hartford Equity Income HLS Fund		892		1,577		(8,919	)		(66,034	)		(72,484	)
Hartford Fundamental Growth HLS Fund		343		—		(18,000	)		(20,091	)		(37,748	)
Hartford Global Advisers HLS Fund		—		—		(36,613	)		(37,842	)		(74,455	)
Hartford Global Equity HLS Fund		—		—		(42,121	)		(33,649	)		(75,770	)
Hartford Global Growth HLS Fund		273		—		(146,614	)		(169,421	)		(315,762	)
Hartford Global Health HLS Fund		76		275		(2,911	)		(58,890	)		(61,450	)
Hartford Growth HLS Fund		143		—		(33,787	)		(101,706	)		(135,350	)
Hartford Growth Opportunities HLS Fund		588		—		(243,551	)		(244,939	)		(487,902	)
Hartford High Yield HLS Fund		1,063		—		(122,078	)		(129,259	)		(250,274	)
Hartford Index HLS Fund		1,441		212		(8,862	)		(264,757	)		(271,966	)
Hartford International Growth HLS Fund		411		—		(364,563	)		(85,727	)		(449,879	)
Hartford International Opportunities HLS Fund		1,284		—		(395,755	)		(264,190	)		(658,661	)
Hartford International Small Company HLS Fund		7		—		(79,222	)		(61,119	)		(140,334	)
Hartford LargeCap Growth HLS Fund		20		—		(68,891	)		(22,859	)		(91,730	)
Hartford MidCap HLS Fund		890		—		(271,920	)		(449,673	)		(720,703	)
Hartford MidCap Growth HLS Fund		7		—		(16,106	)		(16,303	)		(32,402	)
Hartford MidCap Value HLS Fund		759		—		(98,588	)		(170,884	)		(268,713	)
Hartford Money Market HLS Fund		2,002		—		(13,032	)		—			(11,030	)
Hartford Small Company HLS Fund		—		—		(282,842	)		(235,277	)		(518,119	)
Hartford SmallCap Growth HLS Fund		406		—		(145,583	)		(144,972	)		(290,149	)
Hartford SmallCap Value HLS Fund		207		—		(10,739	)		(19,913	)		(30,445	)
Hartford Stock HLS Fund		3,429		—		(676,353	)		(1,111,932	)		(1,784,856	)
Hartford Total Return Bond HLS Fund		—		—		(252,880	)		(447,527	)		(700,407	)
Hartford U.S. Government Securities HLS Fund		418		—		(32,288	)		(142,423	)		(174,293	)
Hartford Value HLS Fund		1,020		—		(12,525	)		(67,448	)		(78,953	)
Hartford Value Opportunities HLS Fund		314		—		(113,505	)		(124,770	)		(237,961	)


	*	Certain Funds had capital loss carryforwards that are identified in Note 4 (e).

	@	The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, mark to market of Passive Foreign Investment Companies and basis differences in real estate investment trusts.


	d)	Reclassification of Capital Accounts:

In accordance with American Institute of Certified Public Accountants (AICPA) Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Funds have recorded reclassifications in their capital accounts. These reclassifications had no impact on the NAV of the Funds. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of a Fund’s distributions may be shown in the accompanying Statements of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on the type of book and tax differences that exist. For the year ended December 31, 2008, the Funds recorded the following reclassifications to increase (decrease) the accounts listed below.


	Undistributed			Accumulated
	Net Investment			Net Realized			Paid-in-
	Income			Gain (Loss)			Capital

Hartford Advisers HLS Fund	$	16,968		$	(16,968	)	$	—
Hartford Capital Appreciation HLS Fund		(10,949	)		10,948			1
Hartford Disciplined Equity HLS Fund		(35	)		3,930			(3,895	)
Hartford Dividend and Growth HLS Fund		(111	)		111			—
Hartford Equity Income HLS Fund		(24	)		24			—
Hartford Fundamental Growth HLS Fund		(2	)		2			—
Hartford Global Advisers HLS Fund		7,463			(7,463	)		—
Hartford Global Equity HLS Fund*		4			(3	)		(1	)
Hartford Global Growth HLS Fund		38			(38	)		—

203

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


	Undistributed			Accumulated
	Net Investment			Net Realized			Paid-in-
	Income			Gain (Loss)			Capital

Hartford Global Health HLS Fund	$	30		$	(29	)	$	(1	)
Hartford Growth HLS Fund		(49	)		50			(1	)
Hartford Growth Opportunities HLS Fund		(436	)		436			—
Hartford High Yield HLS Fund		233			3,245			(3,478	)
Hartford Index HLS Fund		111			(113	)		2
Hartford International Growth HLS Fund		(1,453	)		1,454			(1	)
Hartford International Opportunities HLS Fund		1,538			(1,488	)		(50	)
Hartford International Small Company HLS Fund		856			(813	)		(43	)
Hartford LargeCap Growth HLS Fund		—			1,108			(1,108	)
Hartford MidCap HLS Fund		(237	)		237			—
Hartford MidCap Growth HLS Fund		(14	)		14			—
Hartford MidCap Value HLS Fund		(255	)		256			(1	)
Hartford Money Market HLS Fund		—			—			—
Hartford Small Company HLS Fund		(223	)		189			34
Hartford SmallCap Growth HLS Fund		(375	)		375			—
Hartford SmallCap Value HLS Fund		(20	)		20			—
Hartford Stock HLS Fund		15,978			(15,979	)		1
Hartford Total Return Bond HLS Fund		16,999			(17,007	)		8
Hartford U.S. Government Securities HLS Fund		98			(98	)		—
Hartford Value HLS Fund		(19	)		19			—
Hartford Value Opportunities HLS Fund		1,372			(1,372	)		—


	*	Commenced operations on January 31, 2008.


	e)	Capital Loss Carryforward:

At December 31, 2008 (tax-year-end), the following Funds had capital loss carryforwards for U.S. federal income tax purposes of approximately:


Fund	2009		2010		2011		2012		2013		2014		2015		2016		Total

Hartford Advisers HLS Fund	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	455,474	$	455,474
Hartford Capital Appreciation HLS Fund		—		—		—		—		—		—		—		735,471		735,471
Hartford Disciplined Equity HLS Fund		8,430		758		—		—		—		—		—		146,580		155,768
Hartford Dividend and Growth HLS Fund		—		—		—		—		—		—		—		39,088		39,088
Hartford Fundamental Growth HLS Fund		—		—		—		—		—		—		—		10,398		10,398
Hartford Global Advisers HLS Fund		—		—		—		—		—		—		—		19,548		19,548
Hartford Global Equity HLS Fund		23,115		—		—		—		—		—		1,880		8,899		33,894
Hartford Global Growth HLS Fund		—		—		—		—		—		—		—		92,362		92,362
Hartford Growth HLS Fund		—		—		—		—		—		—		—		23,720		23,720
Hartford Growth Opportunities HLS Fund		—		—		—		—		—		—		—		153,498		153,498
Hartford High Yield HLS Fund		875		—		13,116		—		—		2,846		—		62,492		79,329
Hartford International Growth HLS Fund		—		—		—		—		—		—		—		280,646		280,646
Hartford International Opportunities HLS Fund		3,630		1,046		—		—		—		—		—		209,068		213,744
Hartford International Small Company HLS Fund		—		—		—		—		—		—		—		50,452		50,452
Hartford LargeCap Growth HLS Fund		—		24,574		1,605		346		—		—		—		21,190		47,715
Hartford MidCap HLS Fund		—		—		—		—		—		—		—		142,519		142,519
Hartford MidCap Growth HLS Fund		—		—		—		—		—		—		—		5,666		5,666
Hartford MidCap Value HLS Fund		—		—		—		—		—		—		—		72,457		72,457
Hartford Money Market HLS Fund		—		—		—		—		—		—		—		13,032		13,032
Hartford Small Company HLS Fund		—		—		—		—		—		—		—		156,735		156,735
Hartford SmallCap Growth HLS Fund		—		—		—		—		—		—		—		92,145		92,145
Hartford SmallCap Value HLS Fund		—		—		—		—		—		—		—		6,834		6,834
Hartford Stock HLS Fund		—		—		—		—		—		—		—		431,980		431,980
Hartford Total Return Bond HLS Fund		—		—		—		—		—		22,202		—		141,751		163,953
Hartford U.S. Government Securities HLS Fund		—		—		—		—		16,217		15,888		—		—		32,105
Hartford Value HLS Fund		—		—		—		—		—		—		—		4,650		4,650
Hartford Value Opportunities HLS Fund		—		—		—		—		—		—		—		102,725		102,725

As of December 31, 2008, the following Funds elected to defer the following post October losses.


			Long-Term
Fund	Ordinary Income		Capital Gain

Hartford Advisers HLS Fund	$	—	$	261,146
Hartford Capital Appreciation HLS Fund		63,136		789,716

204


			Long-Term
Fund	Ordinary Income		Capital Gain

Hartford Disciplined Equity HLS Fund	$	—	$	72,889
Hartford Dividend and Growth HLS Fund		—		212,958
Hartford Equity Income HLS Fund		—		8,919
Hartford Fundamental Growth HLS Fund		—		7,602
Hartford Global Advisers HLS Fund		2,260		14,805
Hartford Global Equity HLS Fund		—		8,227
Hartford Global Growth HLS Fund		—		54,252
Hartford Global Health HLS Fund		—		2,911
Hartford Growth HLS Fund		—		10,067
Hartford Growth Opportunities HLS Fund		—		90,053
Hartford High Yield HLS Fund		—		42,749
Hartford Index HLS Fund		—		8,862
Hartford International Growth HLS Fund		—		83,917
Hartford International Opportunities HLS Fund		—		182,011
Hartford International Small Company HLS Fund		—		28,770
Hartford LargeCap Growth HLS Fund		—		21,176
Hartford MidCap HLS Fund		—		129,401
Hartford MidCap Growth HLS Fund		—		10,440
Hartford MidCap Value HLS Fund		—		26,131
Hartford Small Company HLS Fund		—		126,107
Hartford SmallCap Growth HLS Fund		—		53,438
Hartford SmallCap Value HLS Fund		—		3,905
Hartford Stock HLS Fund		—		244,373
Hartford Total Return Bond HLS Fund		17,384		71,543
Hartford U.S. Government Securities HLS Fund		—		183
Hartford Value HLS Fund		—		7,875
Hartford Value Opportunities HLS Fund		—		10,780

Hartford Disciplined Equity HLS Fund, Hartford High Yield HLS Fund and Hartford LargeCap Growth HLS Fund had expiration of capital loss carryover in the amounts of $3,895, $3,478 and $1,107 in 2008, respectively.

Based on certain provisions in the IRC, various limitations regarding the future utilization of Hartford Disciplined Equity HLS Fund, Hartford Global Growth HLS Fund, Hartford High Yield HLS Fund, Hartford International Opportunities HLS Fund, Hartford LargeCap Growth HLS Fund and Hartford Total Return Bond HLS Fund carryforwards may apply.


	f)	Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Funds adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended December 31, 2005 — 2008) and has determined there is no impact to the Funds’ financial statements.


5.	Expenses:


	a)	Investment Management and Advisory Agreements — HL Investment Advisors, LLC (HL Advisors), an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Funds pursuant to an Investment Management Agreement for the Hartford Series Fund, Inc. and the Hartford HLS Series Fund II, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for each Fund. In addition, HL Advisors provides administrative personnel, services, equipment, facilities and office space for proper operation of the Funds.

HL Advisors has contracted with Wellington for the provision of day-to-day investment management services to Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Equity HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Growth HLS Fund, Hartford Growth Opportunities HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Small Company HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford Stock HLS Fund, Hartford Value HLS Fund and Hartford Value Opportunities HLS Fund in accordance with each Fund’s investment objective and policies.

In addition, HL Advisors has contracted with Hartford Investment Management for the provision of day-to-day investment management services for Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford LargeCap Growth HLS Fund, Hartford MidCap Growth HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford Total Return Bond HLS Fund and Hartford U.S. Government Securities HLS Fund in accordance with each Fund’s investment objective and policies.

205

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

HL Advisors has also contracted with Kayne Anderson Rudnick Investment Management, LLC (“KAR”), Metropolitan West Capital Management, LLC (“MetWest Capital”) and SSgA Funds Management, Inc. (“SSgA FM”) for the provision of the day-to-day investment management services for Hartford SmallCap Value HLS Fund in accordance with each Fund’s investment objective and policies.

Each Fund pays a fee to HL Advisors, a portion of which is used to compensate Hartford Investment Management, KAR, MetWest Capital, SSgA FM and Wellington, as applicable.


	b)	Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the following Funds, Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Equity HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Growth HLS Fund, Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund and Hartford Value HLS Fund, HLIC provides administrative services to the Funds and receives monthly compensation at the annual rate of 0.20% of each Fund’s average daily net assets, except for Hartford Index HLS Fund. The Hartford Index HLS Fund pays an administrative service fee of 0.20% for the first $5 billion in average net assets, 0.18% of average net assets for the next $5 billion and 0.17% for average net assets over $10 billion. The Funds assume and pay certain other expenses (including, but not limited to, accounting, custodian, state taxes and Directors’ fees).

The schedules below reflect the rates of compensation paid to HL Advisors for investment advisory services and to HLIC for administrative services rendered during the year ended December 31, 2008; the rates are accrued daily and paid monthly.


Hartford Global Equity HLS Fund (1)
Average Daily Net Assets	Annual Fee

On first $500 million		0.950%
On next $500 million		0.900%
Over $1 billion		0.850%


(1)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $500 million		0.9500%
On next $500 million		0.9000%
On next $4 billion		0.8500%
On next $5 billion		0.8475%
Over $10 billion		0.8450%


		In addition, HL Advisors has contractually agreed to waive 0.10% of its management fee until May 1, 2010.


Hartford SmallCap Value HLS Fund (2)
Average Daily Net Assets	Annual Fee

On first $50 million		0.900%
Over $50 million		0.850%


(2)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $50 million		0.9000%
On next $4.95 billion		0.8500%
On next $5 billion		0.8475%
Over $10 billion		0.8450%


Hartford Global Health HLS Fund (3),
Hartford International Growth HLS Fund (3)
and Hartford International Small Company HLS Fund (3)
Average Daily Net Assets	Annual Fee

On first $250 million		0.850%
On next $250 million		0.800%
Over $500 million		0.750%


(3)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.8500%
On next $250 million		0.8000%
On next $4.5 billion		0.7500%
On next $5 billion		0.7475%
Over $10 billion		0.7450%


Hartford Equity Income HLS Fund (4),
Hartford Growth HLS Fund (4),
Hartford MidCap Value HLS Fund (4)
and Hartford Value HLS Fund (4)
Average Daily Net Assets	Annual Fee

On first $250 million		0.825%
On next $250 million		0.775%
On next $500 million		0.725%
Over $1 billion		0.675%

206


(4)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.8250%
On next $250 million		0.7750%
On next $500 million		0.7250%
On next $4 billion		0.6750%
On next $5 billion		0.6725%
Over $10 billion		0.6700%


Hartford Fundamental Growth HLS Fund (5)
Average Daily Net Assets	Annual Fee

On first $250 million		0.800%
On next $250 million		0.750%
Over $500 million		0.700%


(5)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.8000%
On next $250 million		0.7500%
On next $4.5 billion		0.7000%
On next $5 billion		0.6975%
Over $10 billion		0.6950%


Hartford MidCap Growth HLS Fund (6)
Average Daily Net Assets	Annual Fee

On first $500 million		0.800%
On next $500 million		0.750%
Over $1 billion		0.700%


(6)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $500 million		0.800%
On next $500 million		0.750%
On next $4 billion		0.700%
On next $5 billion		0.680%
Over $10 billion		0.670%


Hartford Capital Appreciation HLS Fund (7),
Hartford Disciplined Equity HLS Fund (7),
Hartford Dividend and Growth HLS Fund (7),
Hartford Global Advisers HLS Fund (7),
Hartford Global Growth HLS Fund (7),
Hartford International Opportunities HLS Fund (7)
and Hartford MidCap HLS Fund (7)
Average Daily Net Assets	Annual Fee

On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
Over $1 billion		0.625%


(7)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.7750%
On next $250 million		0.7250%
On next $500 million		0.6750%
On next $4 billion		0.6250%
On next $5 billion		0.6225%
Over $10 billion		0.6200%


Hartford Small Company HLS Fund (8)
Average Daily Net Assets	Annual Fee

On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
On next $500 million		0.600%
Over $1.5 billion		0.550%


(8)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.7750%
On next $250 million		0.7250%
On next $500 million		0.6750%
On next $500 million		0.6000%
On next $3.5 billion		0.5500%
On next $5 billion		0.5300%
Over $10 billion		0.5200%

207

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


Hartford SmallCap Growth HLS Fund (9)
Average Daily Net Assets	Annual Fee

On first $100 million		0.700%
Over $100 million		0.600%


(9)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $100 million		0.7000%
On next $4.9 billion		0.6000%
On next $5 billion		0.5800%
Over $10 billion		0.5700%


Hartford Growth Opportunities HLS Fund (10)
and Hartford Value Opportunities HLS Fund (10)
Average Daily Net Assets	Annual Fee

On first $100 million		0.700%
Over $100 million		0.600%


(10)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $100 million		0.7000%
On next $4.9 billion		0.6000%
On next $5 billion		0.5975%
Over $10 billion		0.5950%


Hartford Advisers HLS Fund (11)
Average Daily Net Assets	Annual Fee

On first $250 million		0.680%
On next $250 million		0.655%
On next $500 million		0.645%
Over $1 billion		0.595%


(11)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.6800%
On next $250 million		0.6550%
On next $500 million		0.6450%
On next $4 billion		0.5950%
On next $5 billion		0.5925%
Over $10 billion		0.5900%


Hartford LargeCap Growth HLS Fund (12)
Average Daily Net Assets	Annual Fee

On first $500 million		0.650%
On next $500 million		0.600%
Over $1 billion		0.550%


(12)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $500 million		0.650%
On next $500 million		0.600%
On next $4 billion		0.550%
On next $5 billion		0.530%
Over $10 billion		0.520%


Hartford Stock HLS Fund (13)
Average Daily Net Assets	Annual Fee

On first $250 million		0.525%
On next $250 million		0.500%
On next $500 million		0.475%
Over $1 billion		0.450%


(13)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.5250%
On next $250 million		0.5000%
On next $500 million		0.4750%
On next $4 billion		0.4500%
On next $5 billion		0.4475%
Over $10 billion		0.4450%


Hartford Money Market HLS Fund (14)
Average Daily Net Assets	Annual Fee

On first $2 billion		0.450%
On next $3 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%


(14)		HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2008. As of January 1, 2009, HL Advisors eliminated the 0.05% management fee waiver. In addition, HL Advisors voluntarily agreed to combine the first and second management fee breakpoints, permanently reducing fees on the first $2 billion of average daily net assets by 0.05%. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $5 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%

208


Hartford U.S. Government Securities HLS Fund (15)
Average Daily Net Assets	Annual Fee

On first $50 million		0.500%
On next $4.95 billion		0.450%
On next $5 billion		0.430%
Over $10 billion		0.420%


(15)		As of September 26, 2008, HL Advisors agreed to combine the first two breakpoints. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $5 billion		0.450%
On next $5 billion		0.430%
Over $10 billion		0.420%


Hartford Total Return Bond HLS Fund
Average Daily Net Assets	Annual Fee

On first $250 million		0.5250%
On next $250 million		0.5000%
On next $500 million		0.4750%
On next $4 billion		0.4500%
On next $5 billion		0.4300%
Over $10 billion		0.4200%


Hartford Index HLS Fund
Average Daily Net Assets	Annual Fee

On first $2 billion		0.300%
On next $3 billion		0.200%
On next $5 billion		0.180%
Over $10 billion		0.170%


Hartford High Yield HLS Fund
Average Daily Net Assets	Annual Fee

On first $500 million		0.700%
On next $500 million		0.675%
On next $4 billion		0.625%
On next $5 billion		0.605%
Over $10 billion		0.595%


	c)	Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and the Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Equity HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Growth HLS Fund, Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund and Hartford Value HLS Fund, HLIC provides accounting services to the Funds and receives monthly compensation on each Fund’s average daily net assets. The Fund’s accounting services fees are accrued daily and paid monthly.

The rates of compensation paid to HLIC are as follows:


Hartford Capital Appreciation HLS Fund,
Hartford Global Advisers HLS Fund,
Hartford High Yield HLS Fund
and Hartford Total Return Bond HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.018%
On next $5 billion		0.016%
Over $10 billion		0.014%


Hartford Advisers HLS Fund,
Hartford Global Equity HLS Fund,
Hartford International Growth HLS Fund,
Hartford International Opportunities HLS Fund
and Hartford International Small Company HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.016%
On next $5 billion		0.014%
Over $10 billion		0.012%


Hartford Dividend and Growth HLS Fund
and Hartford Global Growth HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.014%
On next $5 billion		0.012%
Over $10 billion		0.010%


Hartford Disciplined Equity HLS Fund,
Hartford MidCap HLS Fund
and Hartford Small Company HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.012%
Over $5 billion		0.010%

209

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


Hartford Equity Income HLS Fund,
Hartford Fundamental Growth HLS Fund,
Hartford Global Health HLS Fund,
Hartford Growth HLS Fund,
Hartford Index HLS Fund,
Hartford MidCap Value HLS Fund,
Hartford Money Market HLS Fund,
Hartford Stock HLS Fund
and Hartford Value HLS Fund
Average Daily Net Assets	Annual Rate

All assets		0.010%


	d)	Other Related Party Transactions — Certain officers of the Funds are directors and/or officers of HL Advisors, Hartford Investment Management and/or The Hartford or its subsidiaries. For the year ended December 31, 2008, a portion of the Funds’ chief compliance officer’s salary was paid by the Funds in the amount of $119. Hartford Investment Services Company LLC (“HISC”), a wholly owned subsidiary of The Hartford, provides transfer agent services to the Funds. HISC was compensated $65 for providing such services. The Funds accrue these fees daily and pay monthly.

	e)	Operating Expenses — Allocable expenses incurred by the Funds are allocated to each Fund and allocated to classes within a Fund in proportion to the average daily net assets of each Fund and class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund.

	f)	Fees Paid Indirectly — The Funds have entered into agreements with State Street Global Advisors, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Funds’ expenses. In addition, the Funds’ custodian bank has also agreed to reduce its fees when the Funds maintain cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2008, these amounts are included in the Statements of Operations.

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratio for the periods listed below would have been as follows:


	For the						For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2008						December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Advisers HLS Fund		0.63	%		0.88	%		0.63	%		0.88	%		0.62	%		0.87	%		0.64	%		0.89	%		0.66	%		0.91	%
Hartford Capital Appreciation HLS Fund		0.66			0.91			0.67			0.93			0.66			0.91			0.67			0.92			0.67			0.92
Hartford Disciplined Equity HLS Fund		0.71			0.96			0.70			0.95			0.71			0.96			0.72			0.97			0.74			0.99
Hartford Dividend and Growth HLS Fund		0.66			0.91			0.67			0.92			0.66			0.91			0.66			0.91			0.67			0.92
Hartford Equity Income HLS Fund		0.84			1.09			0.83			1.08			0.74			0.99			0.75			1.00			0.88			1.13
Hartford Fundamental Growth HLS Fund		0.85			1.10			0.86			1.11			0.83			1.08			0.89			1.14			0.86			1.11
Hartford Global Advisers HLS Fund		0.81			1.06			0.80			1.05			0.80			1.05			0.77			1.03			0.78			1.03
Hartford Global Equity HLS Fund(a)		0.93			1.18			NA			NA			NA			NA			NA			NA			NA			NA
Hartford Global Growth HLS Fund		0.74			0.99			0.73			0.98			0.74			0.99			0.68			0.93			0.68			0.93
Hartford Global Health HLS Fund		0.88			1.13			0.87			1.12			0.87			1.12			0.86			1.11			0.86			1.11
Hartford Growth HLS Fund		0.84			1.09			0.83			1.08			0.82			1.07			0.82			1.07			0.83			1.08
Hartford Growth Opportunities HLS Fund		0.63			0.88			0.63			0.88			0.63			0.88			0.58			0.84			0.57			0.82
Hartford High Yield HLS Fund		0.74			0.99			0.72			0.97			0.72			0.97			0.76			1.01			0.77			1.02
Hartford Index HLS Fund		0.32			0.57			0.33			0.58			0.33			0.58			0.42			0.67			0.44			0.69
Hartford International Growth HLS Fund		0.84			1.09			0.82			1.07			0.85			1.10			0.86			1.11			0.89			1.14
Hartford International Opportunities HLS Fund		0.71			0.96			0.70			0.95			0.73			0.98			0.74			0.99			0.74			0.99
Hartford International Small Company HLS Fund		0.89			1.14			0.88			1.13			0.92			1.17			0.97			1.22			1.01			1.26
Hartford LargeCap Growth HLS Fund		0.66			0.83	(b)		0.47			NA			0.78			NA			0.81			NA			0.90			NA
Hartford MidCap HLS Fund		0.68			0.93			0.68			0.93			0.66			0.91			0.68			0.93			0.68			0.93
Hartford MidCap Growth HLS Fund		0.85			1.10	(b)		0.65			NA			0.78			NA			0.81			NA			0.94			NA

210


	For the						For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2008						December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford MidCap Value HLS Fund		0.80	%		1.05	%		0.79	%		1.04	%		0.77	%		1.02	%		0.78	%		1.03	%		0.78	%		1.03	%
Hartford Money Market HLS Fund		0.42			0.67			0.42			0.67			0.48			0.73			0.49			0.74			0.48			0.73
Hartford Small Company HLS Fund		0.71			0.96			0.70			0.95			0.70			0.95			0.71			0.96			0.70			0.95
Hartford SmallCap Growth HLS Fund		0.64			0.89			0.63			0.88			0.62			0.87			0.62			0.87			0.63			0.88
Hartford SmallCap Value HLS Fund		0.95			1.18			0.96			1.21			0.97			1.22			0.92			1.17			0.92			1.17
Hartford Stock HLS Fund		0.48			0.73			0.48			0.73			0.47			0.72			0.48			0.73			0.48			0.73
Hartford Total Return Bond HLS Fund		0.49			0.74			0.49			0.74			0.49			0.74			0.50			0.75			0.50			0.75
Hartford U.S. Government Securities HLS Fund		0.46			0.71			0.47			0.72			0.48			0.73			0.47			0.72			0.47			0.72
Hartford Value HLS Fund		0.84			1.09			0.84			1.09			0.84			1.09			0.85			1.10			0.85			1.10
Hartford Value Opportunities HLS Fund		0.64			0.89			0.63			0.88			0.64			0.89			0.64			0.89			0.66			0.91


	(a)	From January 31, 2008 (commencement of operations) through December 31, 2008.
	(b)	From March 31, 2008 (commencement of operations) through December 31, 2008.


	g)	Distribution Plan for Class IB shares — All Funds with Class IB shares have adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, each Fund is authorized to compensate the Distributor, Hartford Securities Distribution Company, Inc. (a wholly owned, ultimate subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Class IB shares, subject to the Fund Board’s review and approval.

The Distribution Plan provides that each Fund may pay annually up to 0.25% of the average daily net assets of a Fund attributable to its Class IB shares for activities primarily intended to result in the sale of Class IB shares. The Board has the authority to suspend or reduce these payments at any point in time. Under the terms of the Distribution Plan and the principal underwriting agreement, each Fund is authorized to make payments monthly to the Distributor which may be used to pay or reimburse entities providing distribution and shareholder servicing with respect to the Class IB shares for such entities’ fees or expenses incurred or paid in that regard. The Funds’ distribution fees are accrued daily and paid monthly.


	h)	Payment from (to) Affiliate — The Funds are available for purchase by the separate accounts of different variable universal life policies, variable annuity products, and funding agreements and they are offered directly to certain qualified retirement plans (collectively “Products”). Although existing Products contain transfer restrictions, some Products, particularly older variable annuity products, do not contain restrictions on the frequency of transfers. In addition, as the result of the settlement of litigation against Hartford Life, Inc. (“Hartford Life”) (the issuer of such variable annuity products), the Funds’ ability to restrict transfers by certain owners of older variable annuity products was limited. During 2006, these annuity owners surrendered the older variable annuity contracts that were the subject of prior litigation. In February 2005, Hartford Life agreed with the Board of Directors of the Funds to indemnify the Funds for any material harm caused to the Funds from frequent trading by these contract owners.

On November 8, 2006, the SEC issued an order setting forth the terms of a settlement reached with three subsidiaries of The Hartford that resolves the SEC’s Division of Enforcement’s investigation of aspects of The Hartford’s variable annuity and mutual fund operations related to directed brokerage and revenue sharing. Under the terms of the settlement, The Hartford paid a total of $39.6 million to the Funds. These amounts were recorded on November 8, 2006 and paid on November 22, 2006. The Hartford settled this matter without admitting or denying the findings of the SEC.

On April 20, 2007, Hartford MidCap Growth HLS Fund was reimbursed $114 in trading reimbursements relating to the change in portfolio managers of the Fund.

On May 2, 2007, Hartford Small Company HLS Fund was reimbursed $2,514 in trading reimbursements relating to the change in portfolio managers of the Fund.

On June 8, 2007, Hartford Small Company HLS Fund was reimbursed $486 in regard to incorrect IPO allocations to the Fund.

The total return in the financial highlights includes the impact of the payment from (to) affiliates. The tables below show the impact of each of the payments from affiliates and what the total return for the years ended December 31, 2007, 2006 and 2005, would have been as follows:


	Impact from Payment						Impact from Payment
	from Affiliate for						from Affiliate for						Total Return Excluding
	Trading						Incorrect IPO						Payments from
	Reimbursements for						Allocations for the						Affiliate for the
	the Year Ended						Year Ended						Year Ended
	December 31, 2007						December 31, 2007						December 31, 2007
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Mid Cap Growth HLS Fund		.20	%		—			—			—			11.43	%		—
Hartford Small Company HLS Fund		.16	%		.16	%		.03	%		.03	%		14.01	%		13.73	%

211

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


	Impact from Payment						Impact from Payment						Total Return Excluding
	from Affiliate for						from (to) Affiliate for						Payments from (to)
	SEC Settlement						Unrestricted Transfers						Affiliate
	for the Year Ended						for the Year Ended						for the Year Ended
	December 31, 2006						December 31, 2006						December 31, 2006
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Advisers HLS Fund		0.09	%		0.09	%		—	%		—	%		10.61	%		10.34	%
Hartford Capital Appreciation HLS Fund		0.09			0.09			—			—			16.52			16.23
Hartford Disciplined Equity HLS Fund		0.03			0.03			0.01			0.01			12.41			12.13
Hartford Dividend and Growth HLS Fund		0.06			0.06			0.01			0.01			20.29			19.99
Hartford Fundamental Growth HLS Fund		0.14			0.15			—			—			9.58			9.30
Hartford Global Advisers HLS Fund		0.17			0.16			—			—			8.67			8.40
Hartford Global Health HLS Fund		0.03			0.03			—			—			11.16			10.88
Hartford Global Growth HLS Fund		0.31			0.32			—			—			13.83			13.54
Hartford Growth HLS Fund		0.01			0.01			0.04			0.04			4.56			4.30
Hartford Growth Opportunities HLS Fund		0.07			0.07			0.02			0.02			11.96			11.70
Hartford High Yield HLS Fund		—			—			0.02			0.02			11.15			10.87
Hartford Index HLS Fund		—			—			0.01			0.01			15.45			15.16
Hartford International Growth HLS Fund		—			—			—			—			24.08			23.77
Hartford International Opportunities HLS Fund		0.02			0.02			—			—			24.44			24.13
Hartford International Small Company HLS Fund		0.01			—			—			—			29.33			29.01
Hartford MidCap HLS Fund		0.15			0.15			—			—			11.59			11.31
Hartford MidCap Value HLS Fund		0.02			0.02			0.08			0.09			17.78			17.48
Hartford Small Company HLS Fund		0.14			0.14			—			—			14.29			14.00
Hartford SmallCap Growth HLS Fund		0.01			0.01			(0.03	)		(0.03	)		6.88			6.61
Hartford Stock HLS Fund		0.11			0.12			0.01			0.01			14.53			14.24
Hartford Total Return Bond HLS Fund		—			—			—			—			4.80			4.54
Hartford Value HLS Fund		0.01			0.01			—			—			21.81			21.51
Hartford Value Opportunities HLS Fund		0.01			0.01			0.04			0.05			18.97			18.67


	Impact from Payment
	from Affiliate for						Total Return Excluding
	Unrestricted Transfers						Payments from Affiliate
	for the Year Ended						for the Year Ended
	December 31, 2005						December 31, 2005
Fund	Class IA			Class IB			Class IA			Class IB

Hartford Growth HLS Fund		0.09	%		0.09	%		4.58	%		4.33	%
Hartford Growth Opportunities HLS Fund		0.11			0.11			16.20			15.91
Hartford High Yield HLS Fund		0.57			0.56			1.56			1.29
Hartford MidCap HLS Fund		0.02			0.02			16.76			16.47
Hartford MidCap Value HLS Fund		0.04			0.04			9.95			9.67
Hartford Small Company HLS Fund		0.10			0.10			20.91			20.61
Hartford SmallCap Growth HLS Fund		0.22			0.22			10.80			10.56


6.	Affiliate Holdings:

As of December 31, 2008, affiliates of The Hartford had ownership of shares in the Funds as follows:


Fund	Class IB

Hartford LargeCap Growth HLS Fund		7
Hartford MidCap Growth HLS Fund		11


7.	Investment Transactions:

For the year ended December 31, 2008, the cost of purchases and sales of securities for Hartford Money Market HLS Fund were $72,454,406 and $69,917,848, respectively. For the year ended December 31, 2008, aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:

212


	Cost of Purchases		Sales Proceeds		Cost of
	Excluding		Excluding		Purchases for		Sales Proceeds for
	U.S. Government		U.S. Government		U.S. Government		U.S. Government
	Obligations		Obligations		Obligations		Obligations

Hartford Advisers HLS Fund	$	4,205,135	$	5,143,700	$	218,813	$	408,148
Hartford Capital Appreciation HLS Fund		15,010,315		15,571,808		—		—
Hartford Disciplined Equity HLS Fund		1,068,575		1,252,265		—		—
Hartford Dividend and Growth HLS Fund		2,430,526		2,978,527		—		—
Hartford Equity Income HLS Fund		185,193		240,680		—		—
Hartford Fundamental Growth HLS Fund		106,215		102,605		—		—
Hartford Global Advisers HLS Fund		438,194		480,796		38,529		29,648
Hartford Global Equity HLS Fund		305,448		151,423		—		—
Hartford Global Growth HLS Fund		708,876		860,413		—		—
Hartford Global Health HLS Fund		181,674		244,766		—		—
Hartford Growth HLS Fund		399,838		467,523		—		—
Hartford Growth Opportunities HLS Fund		1,986,105		2,047,841		—		—
Hartford High Yield HLS Fund		534,235		576,120		—		—
Hartford Index HLS Fund		51,749		299,685		—		—
Hartford International Growth HLS Fund		2,871,505		2,962,465		—		—
Hartford International Opportunities HLS Fund		2,850,766		3,080,046		—		—
Hartford International Small Company HLS Fund		291,383		374,851		—		—
Hartford LargeCap Growth HLS Fund		207,278		221,578		—		—
Hartford MidCap Growth HLS Fund		125,881		98,290		—		—
Hartford MidCap HLS Fund		2,223,530		2,554,905		—		—
Hartford MidCap Value HLS Fund		342,732		489,249		—		—
Hartford Small Company HLS Fund		2,608,297		2,640,226		—		—
Hartford SmallCap Growth HLS Fund		671,206		793,641		—		—
Hartford SmallCap Value HLS Fund		39,715		36,515		—		—
Hartford Stock HLS Fund		3,011,205		3,646,221		—		—
Hartford Total Return Bond HLS Fund		5,645,181		5,635,298		3,116,893		3,109,080
Hartford U.S. Government Securities HLS Fund		1,661,460		1,148,276		535,878		563,302
Hartford Value HLS Fund		217,522		229,652		—		—
Hartford Value Opportunities HLS Fund		235,375		356,620		—		—


8.	Line of Credit:

The Funds, except for Hartford Money Market HLS Fund, participate in a $1 billion committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Funds are required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the year ended December 31, 2008, the Funds did not have any borrowings under this facility.


9.	Participation in the U.S. Department of Treasury Guarantee Program for Money Market Funds:

The Board of Directors (“Board”) of Hartford Series Fund, Inc. has approved the participation of Hartford Money Market HLS Fund in the U.S. Treasury Department’s Temporary Guarantee Program (the “Program”) for money market funds.

Subject to certain conditions and limitations, the Program provides that investors in the Fund will receive $1.00 for each Fund share held as of the close of business on September 19, 2008 in the event that the Fund closes at a NAV below $1.00 per share (a “guarantee event”). The Program only covers the amount an investor held in the Fund as of the close of business on September 19, 2008 or the amount an investor holds if and when a guarantee event occurs, whichever is less. Participation in the Program is expected to provide direct benefits to current shareholders that were shareholders as of September 19, 2008 and indirect benefits to all current shareholders by supporting the stability of the Fund’s asset level.

Accordingly, any purchase of shares of the Fund for a new account after the close of business on September 19, 2008 and any increase in the number of shares of the Fund held in an account after the close of business on September 19, 2008 will not be covered by the Program. In the event that shares held as of the close of business on September 19, 2008 are sold prior to the date of a guarantee event, the shares covered by the guarantee will be the lesser of (i) the amounts held in the Fund as of the close of business on September 19, 2008 or (ii) the amounts held in the Fund on the date of a guarantee event.

The cost to participate in the Program will be borne by the Fund without regard to any fee waiver and/or any expense limitation or reimbursement currently in effect for the Fund and is, therefore, borne by all shareholders of the Fund whether or not their shares are covered by the Program. Currently, assets available to the Program to support all participating money market funds do not exceed $50 billion and the Secretary of the Treasury may extend the Program up through the close of business on September 18, 2009.

213

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

is less. The Board has approved the continued participation of the Fund in the Program. The cost to participate in the Program will continue to be borne by the Fund.


10.	Money Market HLS Fund Support Agreement:

The HLS Money Market Fund (the “Fund”) has entered into a Capital Support Agreement, dated September 26, 2008, and amended October 8, 2008 (the “CSA”) with HL Advisors and its affiliate Hartford Life, Inc. (“Hartford Life”). Under the terms of the CSA, Hartford Life has agreed to provide support of up to a maximum aggregate amount of $33.6 million for the Fund’s holdings of certain securities specified in the CSA (the “Notes”). The Notes held in the Fund as of December 31, 2008 are identified in the Schedule of Investments.

The CSA provides that Hartford Life will pay a capital contribution to the Fund if a “Contribution Event” occurs prior to an event terminating the CSA. The contribution amount would be the lesser of: (1) the amount sufficient for the Fund to maintain its market-based calculation of NAV at $0.9950 (which rounds to an NAV of $1.00), after giving effect to the contribution and payments received by the Fund in respect of the Notes; (2) the amount of the loss on the Notes, which is the excess of the amortized cost of the Notes, less deduction of any commissions or similar transaction cost, and any amount received by the Fund in connection with the Contribution Event; and (3) the maximum contribution amount under the CSA, which is $33.6 million for any and all contributions under the CSA.

The CSA defines a “Contribution Event” as any of the following occurrences: (1) any sale of the Note for cash in an amount, after deduction of any commissions or similar transaction costs, less than the amortized cost value of the Note sold as of the date of the settlement; (2) the receipt of final payment on the Note in an amount less than the amortized cost value of the Note as of the date such payment is received; (3) the issuance of orders by a court having jurisdiction over the matter discharging the issuer from liability for the Note and providing for payments on that Note in an amount less than the amortized cost value of the Note as of the date such payment is received; or (4) the receipt of any security or other instruments in exchange for, or as replacement of, the Note as a result of an exchange offer, debt restructuring, reorganization or similar transaction pursuant to which the Note is exchanged for, or replaced with, new securities of the issuer or third party and such new securities are or become “Eligible Securities,” as defined under Rule 2a-7 under the 1940 Act, and have a value that is less than the amortized cost of the Note on the date that the Fund receives such new securities.

Subsequent to December 31, 2008, after the receipt of verbal “no-action” assurance provided by the staff of the SEC, the parties to the CSA have entered into an amendment that permits the CSA to continue despite the fact that Hartford Life’s obligations, effective February 9, 2009, no longer qualify as “First Tier” securities, as defined under Rule 2a-7 under the 1940 Act. The amendment requires that Hartford Life establish an escrow account to support its potential future obligations under the CSA. The minimum balance of the escrow account is $725 (which was set equal to the aggregate unrealized loss on the Notes as of February 23, 2009), and the balance may periodically be adjusted based on the fair value of the Notes and the NAV of the Fund.

The CSA will terminate (unless the parties agree to an extension) on the earliest of the following dates: (1) September 26, 2009; (2) if and when all of the Notes are repaid in full; and (3) if and when Hartford Life has made capital contributions, in the aggregate, equal to the maximum aggregate amount of $33.6 million. Any extension would require approval of the SEC staff. In light of the terms of the CSA, the current and historical market value of the Notes and the net asset value of the Fund, it is possible that no capital contribution would be required even if the Fund were to realize a loss with respect to the Notes. The CSA applies only with respect to the Notes and does not guarantee that the Fund will maintain a stable NAV under all conditions. Apart from the CSA, Hartford Life has not undertaken nor is it obligated to provide support with respect to the Fund’s NAV.

During the year ended December 31, 2008, the Fund did not receive a capital contribution under the terms of the CSA.

The fair value of the CSA may increase or decrease as a result of changes in the fair value of the Notes and other factors. As of December 31, 2008, the fair value of the CSA was zero, as noted in the Schedule of Investments.


11.	Fund Mergers

Reorganization of certain series of Hartford Series Fund, Inc. At a special meeting of shareholders, held on August 12, 2008, shareholders of Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund and Hartford Global Technology HLS Fund approved a proposed Plan of Reorganization providing for the acquisition of all of the assets and liabilities of Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund and Hartford Global Technology HLS Fund by Hartford Global Equity HLS Fund.

Under the terms of the Plan of Reorganization, and pursuant to the approval by shareholders of Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund and Hartford Global Technology HLS Fund, the assets were acquired by Hartford Global Equity HLS Fund on August 22, 2008. Hartford Global Equity HLS Fund acquired the assets of Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund and Hartford Global Technology HLS Fund in exchange for shares in Hartford Global Equity HLS Fund, which were distributed pro rata by Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund and Hartford Global Technology HLS Fund to shareholders on August 22, 2008, in complete liquidation of Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund and Hartford Global Technology HLS Fund.

214

The mergers were accomplished by tax free exchanges as detailed below:


Hartford Global Equity HLS Fund	Class IA		Class IB

Net assets of Hartford Global Communications HLS Fund on August 22, 2008	$	9,909	$	10,403
Net assets of Hartford Global Financial Services HLS Fund on August 22, 2008	$	11,359	$	8,097
Net assets of Hartford Global Technology HLS Fund on August 22, 2008	$	63,662	$	33,265
Hartford Global Communications HLS Fund shares exchanged		1,626		1,719
Hartford Global Financial Services HLS Fund shares exchanged		1,773		1,263
Hartford Global Technology HLS Fund shares exchanged		10,245		5,440
Hartford Global Equity HLS Fund shares issued from Hartford Global Communications HLS Fund		1,050		1,104
Hartford Global Equity HLS Fund shares issued from Hartford Global Financial Services HLS Fund		1,203		860
Hartford Global Equity HLS Fund shares issued from Hartford Global Equity HLS Fund		6,750		3,531
Net assets of Hartford Global Equity HLS Fund immediately before the reorganization	$	19,120	$	1,343
Net assets of Hartford Global Equity HLS Fund immediately after the reorganization	$	104,049	$	53,107

Hartford Global Communications HLS Fund, Hartford Global Financial Services HLS Fund and Hartford Global Technology HLS Fund had the following unrealized appreciation (depreciation), accumulated net realized gains (losses) and capital stock as of August 22, 2008.


	Unrealized			Accumulated
	Appreciation			Net Realized
Fund	(Depreciation)			Gains (Losses)			Capital Stock

Hartford Global Communications HLS Fund	$	642		$	(47	)	$	19,717
Hartford Global Financial Services HLS	$	(2,754	)	$	(1,687	)	$	23,897
Fund Hartford Global Technology HLS Fund	$	55		$	(25,399	)	$	122,271

Reorganization of certain series of Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. At a special meeting of shareholders, held on September 9, 2008, shareholders of Hartford Mortgage Securities HLS Fund approved a proposed Plan of Reorganization providing for the acquisition of all of the assets and liabilities of Hartford Mortgage Securities HLS Fund by Hartford U.S. Government Securities HLS Fund.

Under the terms of the Plan of Reorganization, and pursuant to the approval by shareholders of Hartford Mortgage Securities HLS Fund, the assets were acquired by Hartford U.S. Government Securities HLS Fund on September 26, 2008. Hartford U.S. Government Securities HLS Fund acquired the assets of Hartford Mortgage Securities HLS Fund in exchange for shares in Hartford U.S. Government Securities HLS Fund, which were distributed pro rata to Hartford Mortgage Securities HLS Fund shareholders on September 26, 2008, in complete liquidation of Hartford Mortgage Securities HLS Fund.


Hartford U.S. Government Securities HLS Fund	Class IA		Class IB

Net assets of Hartford Mortgage Securities HLS Fund on September 26, 2008	$	280,383	$	86,403
Hartford Mortgage Securities HLS Fund shares exchanged		28,489		8,837
Hartford U.S. Government Securities HLS Fund shares issued from Hartford Mortgage Securities HLS Fund		26,154		8,094
Net assets of Hartford U.S. Government Securities HLS Fund immediately before the reorganization	$	988,715	$	273,072
Net assets of Hartford U.S. Government Securities HLS Fund immediately after the reorganization	$	1,269,147	$	359,489

Hartford Mortgage Securities HLS Fund had the following unrealized appreciation, accumulated net realized losses and capital stock as of September 26, 2008.


				Accumulated
	Unrealized			Net Realized
Fund	Appreciation			(Losses)			Capital Stock

Hartford Mortgage Securities HLS Fund	$	(39,146	)	$	(19,329	)	$	425,261


12.	Industry Classifications:

Other than the Industry Classifications: “Other Investment Pools and Funds”, and “Exchange Traded Funds”, Equity Industry Classifications used in this report are the Global Industry Classification Standard, which was developed by and is the exclusive property and service mark of MSCI, Inc. and Standard & Poor’s.

215

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights


	*— Selected Per-Share Data (#) —*																					*— Ratios and Supplemental Data —*
							*Net*
							*Realized*																		*Net*										*Ratio of*			*Ratio of*			*Ratio of*
							*and*									*Distributions*									*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*				*Unrealized*			*Total*			*Dividends*			*from*									*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*		*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*						*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*		*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*			*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*		*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*			*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford Advisers HLS Fund
For the Year Ended December 31, 2008
Class IA	$	20.97	$	0.50	$	—	$	(7.09	)	$	(6.59	)	$	(0.58	)	$	(0.11	)	$	—		$	(0.69	)	$	(7.28	)	$	13.69		(31.64	)%	$	3,404,626		0.63	%		0.63	%		2.43	%		76	%
Class IB		21.18		0.47		—		(7.17	)		(6.70	)		(0.52	)		(0.11	)		—			(0.63	)		(7.33	)		13.85		(31.81	)		548,899		0.88			0.88			2.18			—
For the Year Ended December 31, 2007
Class IA		22.60		0.55		—		0.90			1.45			(0.53	)		(2.55	)		—			(3.08	)		(1.63	)		20.97		6.64			6,291,220		0.63			0.63			2.13			47
Class IB		22.78		0.49		—		0.92			1.41			(0.46	)		(2.55	)		—			(3.01	)		(1.60	)		21.18		6.37			1,080,254		0.88			0.88			1.88			—
For the Year Ended December 31, 2006
Class IA		22.53		0.58		0.02		1.81			2.41			(0.57	)		(1.77	)		—			(2.34	)		0.07			22.60		10.70	(d)		7,207,926		0.64			0.64			2.24			87
Class IB		22.70		0.51		0.02		1.83			2.36			(0.51	)		(1.77	)		—			(2.28	)		0.08			22.78		10.43	(d)		1,252,293		0.89			0.89			1.99			—
For the Year Ended December 31, 2005
Class IA		23.04		0.54		—		1.12			1.66			(0.77	)		(1.04	)		(0.36	)		(2.17	)		(0.51	)		22.53		7.24			8,157,354		0.66			0.65			1.96			89
Class IB		23.17		0.47		—		1.15			1.62			(0.69	)		(1.04	)		(0.36	)		(2.09	)		(0.47	)		22.70		6.97			1,366,216		0.91			0.90			1.72			—
For the Year Ended December 31, 2004
Class IA		22.67		0.51		—		0.33			0.84			(0.47	)		—			—			(0.47	)		0.37			23.04		3.74			9,699,374		0.67			0.67			2.16			36
Class IB		22.81		0.48		—		0.30			0.78			(0.42	)		—			—			(0.42	)		0.36			23.17		3.48			1,462,319		0.92			0.92			1.91			—
Hartford Capital Appreciation HLS Fund
For the Year Ended December 31, 2008
Class IA		52.46		0.46		—		(22.58	)		(22.12	)		(0.72	)		(4.28	)		—			(5.00	)		(27.12	)		25.34		(45.59	)		6,017,984		0.67			0.67			1.12			131
Class IB		52.01		0.39		—		(22.37	)		(21.98	)		(0.61	)		(4.28	)		—			(4.89	)		(26.87	)		25.14		(45.73	)		1,295,065		0.92			0.92			0.87			—
For the Year Ended December 31, 2007
Class IA		53.49		0.35		—		8.36			8.71			(0.07	)		(9.67	)		—			(9.74	)		(1.03	)		52.46		16.83			12,123,834		0.67			0.67			0.68			101
Class IB		53.21		0.22		—		8.28			8.50			(0.03	)		(9.67	)		—			(9.70	)		(1.20	)		52.01		16.53			2,933,905		0.92			0.92			0.42			—
For the Year Ended December 31, 2006
Class IA		52.99		0.50		0.04		7.88			8.42			(0.76	)		(7.16	)		—			(7.92	)		0.50			53.49		16.61	(d)		11,746,831		0.67			0.67			0.82			73
Class IB		52.75		0.36		0.04		7.83			8.23			(0.61	)		(7.16	)		—			(7.77	)		0.46			53.21		16.32	(d)		2,810,587		0.92			0.92			0.57			—
For the Year Ended December 31, 2005
Class IA		53.43		0.45		—		7.57			8.02			(0.52	)		(7.94	)		—			(8.46	)		(0.44	)		52.99		15.55			11,317,561		0.70			0.70			0.78			97
Class IB		53.18		0.25		—		7.59			7.84			(0.33	)		(7.94	)		—			(8.27	)		(0.43	)		52.75		15.26			2,793,612		0.95			0.95			0.53			—
For the Year Ended December 31, 2004
Class IA		44.91		0.35		—		8.34			8.69			(0.17	)		—			—			(0.17	)		8.52			53.43		19.36			10,751,945		0.70			0.70			0.77			89
Class IB		44.76		0.27		—		8.26			8.53			(0.11	)		—			—			(0.11	)		8.42			53.18		19.07			2,505,798		0.95			0.95			0.52			—
Hartford Disciplined Equity HLS Fund
For the Year Ended December 31, 2008
Class IA		15.05		0.14		—		(5.37	)		(5.23	)		(0.14	)		(1.22	)		—			(1.36	)		(6.59	)		8.46		(37.27	)		868,799		0.71			0.71			1.14			73
Class IB		14.97		0.12		—		(5.35	)		(5.23	)		(0.11	)		(1.22	)		—			(1.33	)		(6.56	)		8.41		(37.43	)		165,848		0.96			0.96			0.89			—
For the Year Ended December 31, 2007
Class IA		14.08		0.16		—		1.01			1.17			(0.15	)		(0.05	)		—			(0.20	)		0.97			15.05		8.34			1,566,652		0.70			0.70			1.04			75
Class IB		14.01		0.13		—		1.00			1.13			(0.12	)		(0.05	)		—			(0.17	)		0.96			14.97		8.07			339,877		0.95			0.95			0.79			—
For the Year Ended December 31, 2006
Class IA		12.66		0.14		0.01		1.42			1.57			(0.15	)		—			—			(0.15	)		1.42			14.08		12.45	(d)		1,401,619		0.72			0.72			1.19			63
Class IB		12.58		0.13		0.01		1.39			1.53			(0.10	)		—			—			(0.10	)		1.43			14.01		12.17	(d)		354,559		0.97			0.97			0.93			—
For the Year Ended December 31, 2005
Class IA		12.02		0.12		—		0.67			0.79			(0.15	)		—			—			(0.15	)		0.64			12.66		6.58			1,019,703		0.74			0.74			1.07			58
Class IB		11.93		0.08		—		0.68			0.76			(0.11	)		—			—			(0.11	)		0.65			12.58		6.31			340,108		0.99			0.99			0.82			—
For the Year Ended December 31, 2004
Class IA		11.20		0.16		—		0.79			0.95			(0.13	)		—			—			(0.13	)		0.82			12.02		8.41			770,938		0.75			0.75			1.53			62
Class IB		11.14		0.14		—		0.76			0.90			(0.11	)		—			—			(0.11	)		0.79			11.93		8.14			270,171		1.00			1.00			1.28			—
Hartford Dividend and Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		22.35		0.44		—		(7.57	)		(7.13	)		(0.44	)		(0.41	)		—			(0.85	)		(7.98	)		14.37		(32.43	)		3,628,793		0.67			0.67			2.20			41
Class IB		22.28		0.42		—		(7.56	)		(7.14	)		(0.39	)		(0.41	)		—			(0.80	)		(7.94	)		14.34		(32.60	)		776,959		0.92			0.92			1.95			—
For the Year Ended December 31, 2007
Class IA		22.79		0.42		—		1.44			1.86			(0.41	)		(1.89	)		—			(2.30	)		(0.44	)		22.35		8.26			5,842,788		0.67			0.67			1.70			27
Class IB		22.72		0.37		—		1.42			1.79			(0.34	)		(1.89	)		—			(2.23	)		(0.44	)		22.28		7.98			1,501,363		0.92			0.92			1.45			—
For the Year Ended December 31, 2006
Class IA		20.74		0.40		0.01		3.77			4.18			(0.41	)		(1.72	)		—			(2.13	)		2.05			22.79		20.36	(d)		5,671,552		0.67			0.67			1.77			27
Class IB		20.68		0.35		0.01		3.74			4.10			(0.34	)		(1.72	)		—			(2.06	)		2.04			22.72		20.06	(d)		1,603,952		0.92			0.92			1.52			—
For the Year Ended December 31, 2005
Class IA		20.83		0.36		—		0.87			1.23			(0.40	)		(0.92	)		—			(1.32	)		(0.09	)		20.74		5.96			4,978,773		0.67			0.67			1.70			26
Class IB		20.76		0.29		—		0.89			1.18			(0.34	)		(0.92	)		—			(1.26	)		(0.08	)		20.68		5.70			1,506,556		0.92			0.92			1.45			—

216


	*— Selected Per-Share Data (#) —*																						*— Ratios and Supplemental Data —*
								*Net*
								*Realized*																		*Net*										*Ratio of*			*Ratio of*			*Ratio of*
								*and*									*Distributions*									*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*					*Unrealized*			*Total*			*Dividends*			*from*									*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*			*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*						*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*			*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*			*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*			*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*			*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford Dividend and Growth HLS Fund — (continued)
For the Year Ended December 31, 2004
Class IA	$	18.77	$	0.32		$	—	$	2.01		$	2.33		$	(0.27	)	$	—		$	—		$	(0.27	)	$	2.06		$	20.83		12.42	%	$	4,719,663		0.68	%		0.68	%		1.73	%		27	%
Class IB		18.72		0.27			—		2.00			2.27			(0.23	)		—			—			(0.23	)		2.04			20.76		12.14			1,393,412		0.93			0.93			1.48			—
Hartford Equity Income HLS Fund
For the Year Ended December 31, 2008
Class IA		14.30		0.38			—		(4.32	)		(3.94	)		(0.38	)		(0.78	)		—			(1.16	)		(5.10	)		9.20		(28.76	)		236,728		0.84			0.84			3.02			51
Class IB		14.30		0.37			—		(4.34	)		(3.97	)		(0.35	)		(0.78	)		—			(1.13	)		(5.10	)		9.20		(28.94	)		38,134		1.09			1.09			2.77			—
For the Year Ended December 31, 2007 (k)
Class IA		14.20		0.33			—		0.66			0.99			(0.31	)		(0.58	)		—			(0.89	)		0.10			14.30		6.94			390,396		0.84			0.84			2.21			26
Class IB		14.19		0.29			—		0.67			0.96			(0.27	)		(0.58	)		—			(0.85	)		0.11			14.30		6.68			72,717		1.09			1.09			1.96			—
For the Year Ended December 31, 2006
Class IA		12.01		0.26			—		2.22			2.48			(0.26	)		(0.03	)		—			(0.29	)		2.19			14.20		20.79			360,210		0.85			0.75			2.32			28
Class IB		11.98		0.25			—		2.20			2.45			(0.21	)		(0.03	)		—			(0.24	)		2.21			14.19		20.49			106,733		1.10			1.00			2.07			—
For the Year Ended December 31, 2005
Class IA		11.64		0.21			—		0.36			0.57			(0.20	)		—			—			(0.20	)		0.37			12.01		4.81			231,151		0.86			0.76			2.27			21
Class IB		11.62		0.17			—		0.36			0.53			(0.17	)		—			—			(0.17	)		0.36			11.98		4.56			79,417		1.11			1.01			2.03			—
For the Year Ended December 31, 2004
Class IA		10.75		0.12			—		0.89			1.01			(0.12	)		—			—			(0.12	)		0.89			11.64		9.43			90,197		0.90			0.90			1.99			18
Class IB		10.74		0.10			—		0.88			0.98			(0.10	)		—			—			0.10			0.88			11.62		9.16			24,876		1.15			1.15			1.74			—
Hartford Fundamental Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		11.10		0.04			—		(4.24	)		(4.20	)		(0.02	)		(0.96	)		—			(0.98	)		(5.18	)		5.92		(41.25	)		35,367		0.85			0.85			0.49			123
Class IB		11.04		0.02			—		(4.22	)		(4.20	)		—			(0.96	)		—			(0.96	)		(5.16	)		5.88		(41.39	)		18,318		1.10			1.10			0.24			—
For the Year Ended December 31, 2007
Class IA		10.56		0.03			—		1.54			1.57			(0.01	)		(1.02	)		—			(1.03	)		0.54			11.10		15.12			59,053		0.86			0.86			0.27			177
Class IB		10.54		—			—		1.53			1.53			(0.01	)		(1.02	)		—			(1.03	)		0.50			11.04		14.83			34,968		1.11			1.11			0.02			—
For the Year Ended December 31, 2006
Class IA		10.56		0.09			0.01		0.82			0.92			(0.09	)		(0.83	)		—			(0.92	)		—			10.56		9.72	(d)		48,852		0.94			0.85			0.80			112
Class IB		10.53		0.06			0.01		0.82			0.89			(0.05	)		(0.83	)		—			(0.88	)		0.01			10.54		9.45	(d)		34,041		1.19			1.10			0.55			—
For the Year Ended December 31, 2005
Class IA		10.18		0.10			—		0.87			0.97			(0.19	)		(0.40	)		—			(0.59	)		0.38			10.56		9.88			52,679		0.92			0.91			0.77			136
Class IB		10.13		0.04			—		0.89			0.93			(0.13	)		(0.40	)		—			(0.53	)		0.40			10.53		9.60			41,972		1.17			1.16			0.52			—
For the Year Ended December 31, 2004
Class IA		9.90		0.10			—		0.21			0.31			(0.03	)		—			—			(0.03	)		0.28			10.18		3.16			49,519		0.90			0.90			1.06			111
Class IB		9.86		0.08			—		0.20			0.28			(0.01	)		—			—			(0.01	)		0.27			10.13		2.90			41,587		1.15			1.15			0.81			—
Hartford Global Advisers HLS Fund
For the Year Ended December 31, 2008
Class IA		13.61		0.24			—		(4.60	)		(4.36	)		(0.54	)		(0.21	)		—			(0.75	)		(5.11	)		8.50		(32.50	)		186,855		0.81			0.81			1.83			237
Class IB		13.56		0.22			—		(4.59	)		(4.37	)		(0.50	)		(0.21	)		—			(0.71	)		(5.08	)		8.48		(32.67	)		36,265		1.06			1.06			1.58			—
For the Year Ended December 31, 2007
Class IA		12.71		0.23			—		1.83			2.06			(0.12	)		(1.04	)		—			(1.16	)		0.90			13.61		16.59			316,929		0.80			0.80			1.74			85
Class IB		12.67		0.20			—		1.82			2.02			(0.09	)		(1.04	)		—			(1.13	)		0.89			13.56		16.30			67,293		1.05			1.05			1.49			—
For the Year Ended December 31, 2006
Class IA		12.48		0.23			0.02		0.83			1.08			(0.38	)		(0.47	)		—			(0.85	)		0.23			12.71		8.84	(d)		306,498		0.82			0.82			1.73			88
Class IB		12.41		0.20			0.02		0.83			1.05			(0.32	)		(0.47	)		—			(0.79	)		0.26			12.67		8.56	(d)		64,076		1.07			1.07			1.48			—
For the Year Ended December 31, 2005
Class IA		12.53		0.21			—		0.20			0.41			(0.46	)		—			—			(0.46	)		(0.05	)		12.48		3.37			332,169		0.83			0.83			1.59			502
Class IB		12.44		0.23			—		0.14			0.37			(0.40	)		—			—			(0.40	)		(0.03	)		12.41		3.11			71,346		1.09			1.09			1.33			—
For the Year Ended December 31, 2004
Class IA		11.15		0.19			—		1.19			1.38			—			—			—			—			1.38			12.53		12.75			362,757		0.84			0.84			1.27			511
Class IB		11.09		0.14			—		1.21			1.35			—			—			—			—			1.35			12.44		12.47			86,937		1.09			1.09			1.02			—
Hartford Global Equity HLS Fund
From (commencement of operations) January 31, 2008 through December 31, 2008
Class IA(e)		10.00		—			—		(3.78	)		(3.78	)		(0.05	)		—			(0.01	)		(0.06	)		(3.84	)		6.16		(37.87	)(f)		48,627		1.02	(g)		0.94	(g)		1.29	(g)		335	(j)
Class IB(e)		10.00		(0.08	)		—		(3.72	)		(3.80	)		(0.04	)		—			(0.01	)		(0.05	)		(3.85	)		6.15		(38.01	)(f)		31,008		1.27	(g)		1.19	(g)		(0.99	)(g)		—
Hartford Global Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		22.42		0.12			—		(11.56	)		(11.44	)		(0.12	)		(0.69	)		—			(0.81	)		(12.25	)		10.17		(52.46	)		419,183		0.75			0.75			0.67			76
Class IB		22.27		0.08			—		(11.47	)		(11.39	)		(0.07	)		(0.69	)		—			(0.76	)		(12.15	)		10.12		(52.58	)		112,226		1.00			1.00			0.42			—

217

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights — (continued)


	*— Selected Per-Share Data (#) —*																					*— Ratios and Supplemental Data —*
								*Net*
								*Realized*																	*Net*										*Ratio of*			*Ratio of*			*Ratio of*
								*and*									*Distributions*								*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*					*Unrealized*			*Total*			*Dividends*			*from*								*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*			*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*					*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*			*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*		*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*			*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*		*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford Global Growth HLS Fund — (continued)
For the Year Ended December 31, 2007
Class IA	$	20.09	$	0.03		$	—	$	4.84		$	4.87		$	(0.01	)	$	(2.53	)	$	—	$	(2.54	)	$	2.33		$	22.42		25.05	%	$	1,028,843		0.73	%		0.73	%		0.13	%		75	%
Class IB		20.02		(0.02	)		—		4.81			4.79			(0.01	)		(2.53	)		—		(2.54	)		2.25			22.27		24.74			299,788		0.98			0.98			(0.11	)		—
For the Year Ended December 31, 2006
Class IA		18.74		0.10			0.05		2.48			2.63			(0.16	)		(1.12	)		—		(1.28	)		1.35			20.09		14.14	(d)		942,258		0.76			0.76			0.48			116
Class IB		18.66		0.05			0.05		2.47			2.57			(0.09	)		(1.12	)		—		(1.21	)		1.36			20.02		13.86	(d)		280,283		1.01			1.01			0.23			—
For the Year Ended December 31, 2005
Class IA		18.41		0.14			—		0.33			0.47			(0.14	)		—			—		(0.14	)		0.33			18.74		2.59			935,539		0.77			0.77			0.74			262
Class IB		18.32		0.07			—		0.35			0.42			(0.08	)		—			—		(0.08	)		0.34			18.66		2.33			280,050		1.02			1.02			0.48			—
For the Year Ended December 31, 2004
Class IA		15.53		0.12			—		2.85			2.97			(0.09	)		—			—		(0.09	)		2.88			18.41		19.19			1,004,850		0.78			0.78			0.83			255
Class IB		15.47		0.10			—		2.82			2.92			(0.07	)		—			—		(0.07	)		2.85			18.32		18.89			273,202		1.03			1.03			0.58			—
Hartford Global Health HLS Fund
For the Year Ended December 31, 2008
Class IA		15.39		0.06			—		(3.99	)		(3.93	)		(0.06	)		(0.74	)		—		(0.80	)		(4.73	)		10.66		(25.56	)		179,087		0.88			0.88			0.42			57
Class IB		15.11		0.02			—		(3.91	)		(3.89	)		(0.02	)		(0.74	)		—		(0.76	)		(4.65	)		10.46		(25.75	)		62,080		1.13			1.13			0.17			—
For the Year Ended December 31, 2007
Class IA		16.84		0.03			—		0.99			1.02			(0.02	)		(2.45	)		—		(2.47	)		(1.45	)		15.39		6.12			289,561		0.87			0.87			0.16			39
Class IB		16.59		(0.02	)		—		0.99			0.97			—			(2.45	)		—		(2.45	)		(1.48	)		15.11		5.86			105,898		1.12			1.12			(0.09	)		—
For the Year Ended December 31, 2006
Class IA		17.66		0.02			—		1.75			1.77			(0.01	)		(2.58	)		—		(2.59	)		(0.82	)		16.84		11.19	(d)		319,896		0.88			0.88			0.11			34
Class IB		17.47		(0.02	)		—		1.72			1.70			—			(2.58	)		—		(2.58	)		(0.88	)		16.59		10.91	(d)		119,000		1.13			1.13			(0.13	)		—
For the Year Ended December 31, 2005
Class IA		16.92		0.01			—		1.94			1.95			(0.01	)		(1.20	)		—		(1.21	)		0.74			17.66		12.43			309,235		0.87			0.87			0.12			46
Class IB		16.78		(0.01	)		—		1.90			1.89			—			(1.20	)		—		(1.20	)		0.69			17.47		12.15			123,593		1.12			1.12			(0.13	)		—
For the Year Ended December 31, 2004
Class IA		15.52		—			—		1.95			1.95			(0.01	)		(0.54	)		—		(0.55	)		1.40			16.92		12.80			309,640		0.88			0.88			0.07			46
Class IB		15.43		(0.01	)		—		1.90			1.89			—			(0.54	)		—		(0.54	)		1.35			16.78		12.52			125,592		1.13			1.13			(0.18	)		—
Hartford Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		13.39		0.03			—		(5.47	)		(5.44	)		(0.03	)		(0.39	)		—		(0.42	)		(5.86	)		7.53		(41.79	)		203,993		0.84			0.84			0.27			93
Class IB		13.18		—			—		(5.37	)		(5.37	)		—			(0.39	)		—		(0.39	)		(5.76	)		7.42		(41.93	)		81,720		1.09			1.09			0.02			—
For the Year Ended December 31, 2007
Class IA		12.32		0.01			—		2.01			2.02			—			(0.95	)		—		(0.95	)		1.07			13.39		16.78			388,985		0.83			0.83			0.11			101
Class IB		12.17		(0.02	)		—		1.98			1.96			—			(0.95	)		—		(0.95	)		1.01			13.18		16.49			189,987		1.08			1.08			(0.14	)		—
For the Year Ended December 31, 2006
Class IA		12.54		0.01			0.01		0.56			0.58			(0.01	)		(0.79	)		—		(0.80	)		(0.22	)		12.32		4.61	(d)		379,601		0.84			0.84			0.10			95
Class IB		12.42		(0.02	)		0.01		0.55			0.54			—			(0.79	)		—		(0.79	)		(0.25	)		12.17		4.35	(d)		190,063		1.09			1.09			(0.14	)		—
For the Year Ended December 31, 2005
Class IA		12.47		0.01			0.01		0.53			0.55			—			(0.48	)		—		(0.48	)		0.07			12.54		4.67	(d)		345,558		0.84			0.84			0.02			76
Class IB		12.38		(0.04	)		0.01		0.55			0.52			—			(0.48	)		—		(0.48	)		0.04			12.42		4.42	(d)		206,105		1.09			1.09			(0.23	)		—
For the Year Ended December 31, 2004
Class IA		11.16		0.01			—		1.39			1.40			—			(0.09	)		—		(0.09	)		1.31			12.47		12.49			249,473		0.86			0.86			0.09			79
Class IB		11.11		0.01			—		1.35			1.36			—			(0.09	)		—		(0.09	)		1.27			12.38		12.21			170,895		1.11			1.11			(0.16	)		—
Hartford Growth Opportunities HLS Fund
For the Year Ended December 31, 2008
Class IA		32.75		0.12			—		(14.65	)		(14.53	)		(0.10	)		(1.07	)		—		(1.17	)		(15.70	)		17.05		(45.66	)		752,898		0.64			0.64			0.45			154
Class IB		32.40		0.06			—		(14.47	)		(14.41	)		(0.03	)		(1.07	)		—		(1.10	)		(15.51	)		16.89		(45.80	)		123,883		0.89			0.89			0.20			—
For the Year Ended December 31, 2007
Class IA		30.13		0.05			—		8.62			8.67			(0.05	)		(6.00	)		—		(6.05	)		2.62			32.75		29.65			1,415,613		0.64			0.64			0.16			135
Class IB		29.90		(0.02	)		—		8.53			8.51			(0.01	)		(6.00	)		—		(6.01	)		2.50			32.40		29.33			277,421		0.89			0.89			(0.09	)		—
For the Year Ended December 31, 2006
Class IA		30.07		0.22			0.03		3.27			3.52			(0.24	)		(3.22	)		—		(3.46	)		0.06			30.13		12.05	(d)		1,103,590		0.65			0.65			0.71			139
Class IB		29.85		0.14			0.03		3.25			3.42			(0.15	)		(3.22	)		—		(3.37	)		0.05			29.90		11.79	(d)		197,797		0.90			0.90			0.46			—
For the Year Ended December 31, 2005
Class IA		27.63		0.09			0.03		4.36			4.48			(0.06	)		(1.98	)		—		(2.04	)		2.44			30.07		16.31	(d)		1,012,774		0.64			0.64			0.33			140
Class IB		27.44		0.01			0.03		4.35			4.39			—			(1.98	)		—		(1.98	)		2.41			29.85		16.02	(d)		179,308		0.89			0.89			0.06			—
For the Year Ended December 31, 2004
Class IA		23.57		0.05			—		4.01			4.06			—			—			—		—			4.06			27.63		17.18			848,674		0.63			0.63			0.23			137
Class IB		23.48		0.03			—		3.93			3.96			—			—			—		—			3.96			27.44		16.89			112,896		0.88			0.88			(0.03	)		—

218


	*— Selected Per-Share Data (#) —*																				*— Ratios and Supplemental Data —*
							*Net*
							*Realized*																	*Net*										*Ratio of*			*Ratio of*			*Ratio of*
							*and*									*Distributions*								*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*				*Unrealized*			*Total*			*Dividends*			*from*								*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*		*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*					*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*		*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*		*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*		*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*		*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford High Yield HLS Fund
For the Year Ended December 31, 2008
Class IA	$	8.87	$	0.83	$	—	$	(3.12	)	$	(2.29	)	$	(0.85	)	$	—		$	—	$	(0.85	)	$	(3.14	)	$	5.73		(25.23	)%	$	293,839		0.74	%		0.74	%		9.05	%		101	%
Class IB		8.78		0.83		—		(3.11	)		(2.28	)		(0.82	)		—			—		(0.82	)		(3.10	)		5.68		(25.42	)		124,701		0.99			0.99			8.76			—
For the Year Ended December 31, 2007 (k)
Class IA		9.35		0.71		—		(0.45	)		0.26			(0.74	)		—			—		(0.74	)		(0.48	)		8.87		2.79			460,243		0.77			0.72			7.47			148
Class IB		9.27		0.68		—		(0.45	)		0.23			(0.72	)		—			—		(0.72	)		(0.49	)		8.78		2.53			222,712		1.02			0.97			7.20			—
For the Year Ended December 31, 2006 (k)
Class IA		9.80		0.72		—		0.31			1.03			(1.48	)		—			—		(1.48	)		(0.45	)		9.35		11.17	(d)		471,327		0.77			0.72			7.39			160
Class IB		9.70		0.69		—		0.30			0.99			(1.42	)		—			—		(1.42	)		(0.43	)		9.27		10.89	(d)		264,525		1.02			0.97			7.14			—
For the Year Ended December 31, 2005
Class IA		10.26		0.74		0.05		(0.58	)		0.21			(0.67	)		—			—		(0.67	)		(0.46	)		9.80		2.13	(d)		443,859		0.77			0.76			6.51			138
Class IB		10.17		0.71		0.05		(0.59	)		0.17			(0.64	)		—			—		(0.64	)		(0.47	)		9.70		1.85	(d)		272,538		1.02			1.01			6.25			—
For the Year Ended December 31, 2004
Class IA		10.06		0.58		—		0.12			0.70			(0.50	)		—			—		(0.50	)		0.20			10.26		7.40			518,881		0.77			0.77			6.31			92
Class IB		9.98		0.64		—		0.03			0.67			(0.48	)		—			—		(0.48	)		0.19			10.17		7.14			309,672		1.02			1.02			6.06			—
Hartford Index HLS Fund
For the Year Ended December 31, 2008
Class IA		31.54		0.59		—		(12.16	)		(11.57	)		(0.58	)		(0.64	)		—		(1.22	)		(12.79	)		18.75		(37.11	)		718,081		0.32			0.32			2.02			4
Class IB		31.40		0.51		—		(12.07	)		(11.56	)		(0.51	)		(0.64	)		—		(1.15	)		(12.71	)		18.69		(37.27	)		138,014		0.57			0.57			1.77			—
For the Year Ended December 31, 2007
Class IA		32.36		0.59		—		1.07			1.66			(0.57	)		(1.91	)		—		(2.48	)		(0.82	)		31.54		5.20			1,390,827		0.33			0.33			1.61			4
Class IB		32.22		0.48		—		1.09			1.57			(0.48	)		(1.91	)		—		(2.39	)		(0.82	)		31.40		4.94			271,967		0.58			0.58			1.36			—
For the Year Ended December 31, 2006
Class IA		31.97		0.56		—		4.05			4.61			(0.56	)		(3.66	)		—		(4.22	)		0.39			32.36		15.46	(d)		1,598,176		0.42			0.33			1.60			4
Class IB		31.84		0.44		—		4.06			4.50			(0.46	)		(3.66	)		—		(4.12	)		0.38			32.22		15.17	(d)		276,850		0.67			0.58			1.36			—
For the Year Ended December 31, 2005
Class IA		32.17		0.51		—		0.90			1.41			(0.61	)		(1.00	)		—		(1.61	)		(0.20	)		31.97		4.50			1,701,424		0.42			0.42			1.46			5
Class IB		32.02		0.40		—		0.93			1.33			(0.51	)		(1.00	)		—		(1.51	)		(0.18	)		31.84		4.24			263,579		0.67			0.67			1.21			—
For the Year Ended December 31, 2004
Class IA		29.60		0.50		—		2.56			3.06			(0.39	)		(0.10	)		—		(0.49	)		2.57			32.17		10.39			1,973,470		0.44			0.44			1.60			5
Class IB		29.49		0.44		—		2.53			2.97			(0.34	)		(0.10	)		—		(0.44	)		2.53			32.02		10.12			252,959		0.69			0.69			1.35			—
Hartford International Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		14.47		0.14		—		(8.09	)		(7.95	)		(0.10	)		(0.57	)		—		(0.67	)		(8.62	)		5.85		(56.78	)		293,243		0.84			0.84			1.25			381
Class IB		14.36		0.12		—		(8.01	)		(7.89	)		(0.07	)		(0.57	)		—		(0.64	)		(8.53	)		5.83		(56.89	)		108,766		1.09			1.09			1.00			—
For the Year Ended December 31, 2007
Class IA		14.18		0.11		—		3.13			3.24			(0.11	)		(2.84	)		—		(2.95	)		0.29			14.47		23.91			791,757		0.83			0.83			0.75			239
Class IB		14.10		0.08		—		3.09			3.17			(0.07	)		(2.84	)		—		(2.91	)		0.26			14.36		23.60			336,747		1.08			1.08			0.53			—
For the Year Ended December 31, 2006 (k)
Class IA		12.48		0.10		—		2.84			2.94			(0.11	)		(1.13	)		—		(1.24	)		1.70			14.18		24.08	(d)		574,806		0.88			0.88			0.70			164
Class IB		12.40		0.06		—		2.83			2.89			(0.06	)		(1.13	)		—		(1.19	)		1.70			14.10		23.77	(d)		302,729		1.13			1.13			0.48			—
For the Year Ended December 31, 2005
Class IA		12.45		0.11		—		0.60			0.71			(0.10	)		(0.58	)		—		(0.68	)		0.03			12.48		6.16			370,555		0.93			0.93			1.05			179
Class IB		12.37		0.06		—		0.61			0.67			(0.06	)		(0.58	)		—		(0.64	)		0.03			12.40		5.89			244,572		1.18			1.18			0.79			—
For the Year Ended December 31, 2004
Class IA		10.20		0.05		—		2.44			2.49			—			(0.24	)		—		(0.24	)		2.25			12.45		24.72			208,703		0.97			0.97			0.86			215
Class IB		10.16		0.06		—		2.39			2.45			—			(0.24	)		—		(0.24	)		2.21			12.37		24.40			137,183		1.22			1.22			0.61			—
Hartford International Opportunities HLS Fund
For the Year Ended December 31, 2008
Class IA		15.62		0.28		—		(6.68	)		(6.40	)		(0.28	)		(0.54	)		—		(0.82	)		(7.22	)		8.40		(42.25	)		1,046,234		0.71			0.71			2.21			158
Class IB		15.78		0.27		—		(6.76	)		(6.49	)		(0.24	)		(0.54	)		—		(0.78	)		(7.27	)		8.51		(42.39	)		189,221		0.96			0.96			1.96			—
For the Year Ended December 31, 2007
Class IA		15.23		0.18		—		3.77			3.95			(0.19	)		(3.37	)		—		(3.56	)		0.39			15.62		27.43			2,027,078		0.71			0.71			1.13			135
Class IB		15.36		0.16		—		3.78			3.94			(0.15	)		(3.37	)		—		(3.52	)		0.42			15.78		27.11			417,144		0.96			0.96			0.89			—
For the Year Ended December 31, 2006
Class IA		13.59		0.22		—		3.05			3.27			(0.40	)		(1.23	)		—		(1.63	)		1.64			15.23		24.46	(d)		1,596,055		0.75			0.75			1.47			119
Class IB		13.52		0.18		—		3.07			3.25			(0.18	)		(1.23	)		—		(1.41	)		1.84			15.36		24.15	(d)		382,371		1.00			1.00			1.24			—
For the Year Ended December 31, 2005
Class IA		11.86		0.14		—		1.59			1.73			—			—			—		—			1.73			13.59		14.62			1,251,426		0.78			0.78			1.22			120
Class IB		11.83		0.13		—		1.56			1.69			—			—			—		—			1.69			13.52		14.33			319,626		1.03			1.03			0.97			—

219

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights — (continued)


	*— Selected Per-Share Data (#) —*																						*— Ratios and Supplemental Data —*
								*Net*
								*Realized*																		*Net*										*Ratio of*			*Ratio of*			*Ratio of*
								*and*									*Distributions*									*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*					*Unrealized*			*Total*			*Dividends*			*from*									*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*			*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*						*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*			*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*			*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*			*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*			*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford International Opportunities HLS Fund — (continued)
For the Year Ended December 31, 2004
Class IA	$	10.11	$	0.10		$	—	$	1.73		$	1.83		$	(0.08	)	$	—		$	—		$	(0.08	)	$	1.75		$	11.86		18.08	%	$	1,054,884		0.80	%		0.80	%		1.13	%		142	%
Class IB		10.09		0.08			—		1.72			1.80			(0.06	)		—			—			(0.06	)		1.74			11.83		17.79			247,752		1.05			1.05			0.88			—
Hartford International Small Company HLS Fund
For the Year Ended December 31, 2008
Class IA		15.07		0.20			—		(6.45	)		(6.25	)		(0.15	)		(0.37	)		—			(0.52	)		(6.77	)		8.30		(42.44	)		133,595		0.89			0.89			1.67			98
Class IB		14.93		0.17			—		(6.37	)		(6.20	)		(0.12	)		(0.37	)		—			(0.49	)		(6.69	)		8.24		(42.58	)		39,265		1.14			1.14			1.42			—
For the Year Ended December 31, 2007
Class IA		16.77		0.18			—		1.23			1.41			(0.31	)		(2.80	)		—			(3.11	)		(1.70	)		15.07		9.01			312,269		0.88			0.88			0.81			97
Class IB		16.64		0.13			—		1.22			1.35			(0.26	)		(2.80	)		—			(3.06	)		(1.71	)		14.93		8.73			105,771		1.13			1.13			0.56			—
For the Year Ended December 31, 2006
Class IA		14.84		0.18			—		4.08			4.26			(0.32	)		(2.01	)		—			(2.33	)		1.93			16.77		29.34	(d)		294,660		0.93			0.93			1.05			99
Class IB		14.71		0.15			—		4.04			4.19			(0.25	)		(2.01	)		—			(2.26	)		1.93			16.64		29.01	(d)		117,251		1.18			1.18			0.82			—
For the Year Ended December 31, 2005
Class IA		14.52		0.11			—		2.44			2.55			(0.38	)		(1.85	)		—			(2.23	)		0.32			14.84		18.60			193,712		1.00			1.00			1.19			95
Class IB		14.42		0.08			—		2.40			2.48			(0.34	)		(1.85	)		—			(2.19	)		0.29			14.71		18.30			92,157		1.25			1.25			0.97			—
For the Year Ended December 31, 2004
Class IA		12.62		0.16			—		1.96			2.12			—			(0.22	)		—			(0.22	)		1.90			14.52		16.96			84,012		1.08			1.08			1.53			119
Class IB		12.56		0.14			—		1.94			2.08			—			(0.22	)		—			(0.22	)		1.86			14.42		16.67			54,750		1.33			1.33			1.28			—
Hartford LargeCap Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		19.78		0.12			—		(7.82	)		(7.70	)		(0.12	)		—			(2.08	)		(2.20	)		(9.90	)		9.88		(42.96	)		87,150		0.66			0.66			0.77			157
Class IB(h)		17.22		0.04			—		(5.19	)		(5.15	)		(0.12	)		—			(2.08	)		(2.20	)		(7.35	)		9.87		(34.61	)(f)		2,207		0.91	(g)		0.91	(g)		1.18	%(g)		—
For the Year Ended December 31, 2007
Class IA		20.18		0.11			—		1.02			1.13			(0.11	)		(1.42	)		—			(1.53	)		(0.40	)		19.78		5.52			171,565		0.68			0.47			0.53			247
For the Year Ended December 31, 2006
Class IA		18.74		0.07			—		1.44			1.51			(0.07	)		—			—			(0.07	)		1.44			20.18		8.04			139,150		0.89			0.78			0.31			116
For the Year Ended December 31, 2005
Class IA		17.84		0.07			—		0.98			1.05			(0.15	)		—			—			(0.15	)		0.90			18.74		5.85			155,020		0.91			0.81			0.32			27
For the Year Ended December 31, 2004
Class IA		16.42		0.10			—		1.35			1.45			(0.03	)		—			—			(0.03	)		1.42			17.84		8.90			173,702		0.90			0.90			0.56			26
Hartford MidCap HLS Fund
For the Year Ended December 31, 2008
Class IA		26.34		0.12			—		(9.03	)		(8.91	)		(0.12	)		(1.10	)		—			(1.22	)		(10.13	)		16.21		(35.32	)		1,552,741		0.69			0.69			0.51			92
Class IB		26.08		0.06			—		(8.92	)		(8.86	)		(0.06	)		(1.10	)		—			(1.16	)		(10.02	)		16.06		(35.49	)		169,328		0.94			0.94			0.26			—
For the Year Ended December 31, 2007 (k)
Class IA		26.99		0.06			—		3.99			4.05			(0.15	)		(4.55	)		—			(4.70	)		(0.65	)		26.34		15.30			2,716,285		0.69			0.69			0.22			79
Class IB		26.76		(0.01	)		—		3.95			3.94			(0.07	)		(4.55	)		—			(4.62	)		(0.68	)		26.08		15.01			302,151		0.94			0.94			(0.03	)		—
For the Year Ended December 31, 2006
Class IA		28.73		0.33			0.04		2.92			3.29			(0.33	)		(4.70	)		—			(5.03	)		(1.74	)		26.99		11.74	(d)		2,606,275		0.68			0.68			1.06			89
Class IB		28.53		0.25			0.04		2.89			3.18			(0.25	)		(4.70	)		—			(4.95	)		(1.77	)		26.76		11.46	(d)		274,695		0.93			0.93			0.82			—
For the Year Ended December 31, 2005
Class IA		28.61		0.11			0.01		4.60			4.72			(0.12	)		(4.48	)		—			(4.60	)		0.12			28.73		16.78	(d)		2,529,805		0.70			0.70			0.39			70
Class IB		28.42		0.01			0.01		4.59			4.61			(0.02	)		(4.48	)		—			(4.50	)		0.11			28.53		16.49	(d)		254,833		0.95			0.95			0.14			—
For the Year Ended December 31, 2004
Class IA		24.63		0.12			—		3.93			4.05			(0.07	)		—			—			(0.07	)		3.98			28.61		16.44			2,193,649		0.70			0.70			0.47			60
Class IB		24.50		0.08			—		3.87			3.95			(0.03	)		—			—			(0.03	)		3.92			28.42		16.15			221,727		0.95			0.95			0.22			—
Hartford MidCap Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		10.19		0.03			—		(4.76	)		(4.73	)		(0.03	)		(0.09	)		—			(0.12	)		(4.85	)		5.34		(46.85	)		38,447		0.85			0.85			0.53			201
Class IB(h)		9.04		0.01			—		(3.60	)		(3.59	)		(0.02	)		(0.09	)		—			(0.11	)		(3.70	)		5.34		(40.17	)(f)		8,702		1.10	(g)		1.10	(g)		0.32	(g)		—
For the Year Ended December 31, 2007
Class IA		10.88		0.03			0.02		1.23			1.28			(0.06	)		(1.91	)		—			(1.97	)		(0.69	)		10.19		11.65	(d)		51,196		0.85			0.65			0.26			231
For the Year Ended December 31, 2006
Class IA		11.33		(0.01	)		—		1.39			1.38			—			(1.83	)		—			(1.83	)		(0.45	)		10.88		12.27			53,395		0.98			0.78			(0.08	)		211
For the Year Ended December 31, 2005
Class IA		12.63		(0.04	)		—		0.53			0.49			—			(1.79	)		—			(1.79	)		(1.30	)		11.33		4.55			55,209		1.01			0.81			(0.39	)		112
For the Year Ended December 31, 2004
Class IA		11.21		0.01			—		1.43			1.44			(0.02	)		—			—			(0.02	)		1.42			12.63		12.83			59,730		0.94			0.94			0.02			179

220


	*— Selected Per-Share Data (#) —*																						*— Ratios and Supplemental Data —*
								*Net*
								*Realized*																		*Net*										*Ratio of*			*Ratio of*			*Ratio of*
								*and*									*Distributions*									*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*					*Unrealized*			*Total*			*Dividends*			*from*									*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*			*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*						*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*			*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*			*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*			*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*			*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford MidCap Value HLS Fund
For the Year Ended December 31, 2008
Class IA	$	12.34	$	0.07		$	—	$	(4.35	)	$	(4.28	)	$	(0.06	)	$	(2.18	)	$	—		$	(2.24	)	$	(6.52	)	$	5.82		(40.21	)%	$	301,896		0.81	%		0.81	%		0.82	%		51	%
Class IB		12.30		0.05			—		(4.33	)		(4.28	)		(0.04	)		(2.18	)		—			(2.22	)		(6.50	)		5.80		(40.36	)		128,483		1.06			1.06			0.57			—
For the Year Ended December 31, 2007
Class IA		14.18		0.08			—		0.51			0.59			(0.07	)		(2.36	)		—			(2.43	)		(1.84	)		12.34		2.13			615,430		0.79			0.79			0.53			50
Class IB		14.13		0.04			—		0.53			0.57			(0.04	)		(2.36	)		—			(2.40	)		(1.83	)		12.30		1.87			300,502		1.04			1.04			0.28			—
For the Year Ended December 31, 2006
Class IA		14.01		0.10			0.01		2.11			2.22			(0.12	)		(1.93	)		—			(2.05	)		0.17			14.18		17.88	(d)		721,469		0.78			0.78			0.73			41
Class IB		13.96		0.07			0.01		2.10			2.18			(0.08	)		(1.93	)		—			(2.01	)		0.17			14.13		17.59	(d)		370,771		1.03			1.03			0.51			—
For the Year Ended December 31, 2005
Class IA		14.16		0.06			0.01		1.23			1.30			(0.08	)		(1.37	)		—			(1.45	)		(0.15	)		14.01		9.99	(d)		721,631		0.79			0.79			0.35			49
Class IB		14.08		(0.02	)		0.01		1.27			1.26			(0.01	)		(1.37	)		—			(1.38	)		(0.12	)		13.96		9.71	(d)		391,264		1.04			1.04			0.10			—
For the Year Ended December 31, 2004
Class IA		12.37		0.03			—		1.96			1.99			(0.01	)		(0.19	)		—			(0.20	)		1.79			14.16		16.30			770,328		0.80			0.80			0.34			87
Class IB		12.32		0.02			—		1.93			1.95			—			(0.19	)		—			(0.19	)		1.76			14.08		16.01			435,812		1.05			1.05			0.09			—
Hartford Money Market HLS Fund
For the Year Ended December 31, 2008
Class IA		1.00		0.02			—		—			0.02			(0.02	)		—			—			(0.02	)		—			1.00		2.15			4,427,230		0.47			0.42			2.01			N/A
Class IB		1.00		0.02			—		—			0.02			(0.02	)		—			—			(0.02	)		—			1.00		1.89			774,432		0.72			0.67			1.80			—
For the Year Ended December 31, 2007
Class IA		1.00		0.05			—		—			0.05			(0.05	)		—			—			(0.05	)		—			1.00		4.95			2,224,124		0.47			0.42			4.83			N/A
Class IB		1.00		0.05			—		—			0.05			(0.05	)		—			—			(0.05	)		—			1.00		4.69			452,976		0.72			0.67			4.58			—
For the Year Ended December 31, 2006
Class IA		1.00		0.05			—		—			0.05			(0.05	)		—			—			(0.05	)		—			1.00		4.69			1,558,433		0.48			0.48			4.63			N/A
Class IB		1.00		0.04			—		—			0.04			(0.04	)		—			—			(0.04	)		—			1.00		4.43			319,926		0.73			0.73			4.38			—
For the Year Ended December 31, 2005
Class IA		1.00		0.03			—		—			0.03			(0.03	)		—			—			(0.03	)		—			1.00		2.84			1,353,836		0.49			0.49			2.79			N/A
Class IB		1.00		0.03			—		—			0.03			(0.03	)		—			—			(0.03	)		—			1.00		2.58			264,040		0.75			0.75			2.54			—
For the Year Ended December 31, 2004
Class IA		1.00		—			—		—			—			—			—			—			—			—			1.00		0.94			1,294,525		0.48			0.48			0.93			N/A
Class IB		1.00		—			—		—			—			—			—			—			—			—			1.00		0.69			252,808		0.73			0.73			0.68			—
Hartford Small Company HLS Fund
For the Year Ended December 31, 2008
Class IA		18.62		0.02			—		(7.56	)		(7.54	)		(0.02	)		(0.05	)		—			(0.07	)		(7.61	)		11.01		(40.60	)		793,078		0.71			0.71			0.16			194
Class IB		18.20		(0.01	)		—		(7.38	)		(7.39	)		—			(0.05	)		—			(0.05	)		(7.44	)		10.76		(40.73	)		179,411		0.96			0.96			(0.09	)		—
For the Year Ended December 31, 2007 (k)
Class IA		19.07		—			0.04		2.57			2.61			(0.05	)		(3.01	)		—			(3.06	)		(0.45	)		18.62		14.23	(d)		1,292,444		0.70			0.70			(0.02	)		167	(i)
Class IB		18.71		(0.05	)		0.04		2.51			2.50			—			(3.01	)		—			(3.01	)		(0.51	)		18.20		13.94	(d)		312,775		0.95			0.95			(0.27	)		—
For the Year Ended December 31, 2006
Class IA		19.66		0.05			0.02		2.75			2.82			(0.04	)		(3.37	)		—			(3.41	)		(0.59	)		19.07		14.43	(d)		1,138,830		0.73			0.73			0.21			177
Class IB		19.38		—			0.02		2.70			2.72			(0.02	)		(3.37	)		—			(3.39	)		(0.67	)		18.71		14.14	(d)		304,757		0.98			0.98			(0.03	)		—
For the Year Ended December 31, 2005
Class IA		16.25		(0.04	)		0.02		3.43			3.41			—			—			—			—			3.41			19.66		21.01	(d)		1,017,271		0.75			0.75			(0.08	)		106
Class IB		16.06		(0.05	)		0.02		3.35			3.32			—			—			—			—			3.32			19.38		20.71	(d)		220,310		1.00			1.00			(0.34	)		—
For the Year Ended December 31, 2004
Class IA		14.49		(0.07	)		—		1.83			1.76			—			—			—			—			1.76			16.25		12.18			904,912		0.75			0.75			(0.41	)		141
Class IB		14.35		(0.09	)		—		1.80			1.71			—			—			—			—			1.71			16.06		11.90			230,452		1.00			1.00			(0.66	)		—
Hartford SmallCap Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		18.71		0.05			—		(7.00	)		(6.95	)		(0.07	)		(0.12	)		—			(0.19	)		(7.14	)		11.57		(37.42	)		332,330		0.64			0.64			0.24			99
Class IB		18.66		—			—		(6.96	)		(6.96	)		(0.05	)		(0.12	)		—			(0.17	)		(7.13	)		11.53		(37.57	)		115,827		0.89			0.89			(0.01	)		—
For the Year Ended December 31, 2007
Class IA		20.79		0.11			—		(0.53	)		(0.42	)		(0.06	)		(1.60	)		—			(1.66	)		(2.08	)		18.71		(1.84	)		640,853		0.63			0.63			0.52			84
Class IB		20.74		0.06			—		(0.54	)		(0.48	)		—			(1.60	)		—			(1.60	)		(2.08	)		18.66		(2.09	)		227,424		0.88			0.88			0.27			—
For the Year Ended December 31, 2006
Class IA		20.88		0.09			—		1.35			1.44			(0.08	)		(1.45	)		—			(1.53	)		(0.09	)		20.79		6.86	(d)		746,266		0.64			0.64			0.42			92
Class IB		20.83		0.04			—		1.35			1.39			(0.03	)		(1.45	)		—			(1.48	)		(0.09	)		20.74		6.59	(d)		273,736		0.89			0.89			0.17			—
For the Year Ended December 31, 2005
Class IA		20.26		0.05			0.04		2.13			2.22			(0.08	)		(1.22	)		(0.30	)		(1.60	)		0.62			20.88		11.02	(d)		704,168		0.63			0.63			0.20			77
Class IB		20.21		(0.02	)		0.04		2.15			2.17			(0.03	)		(1.22	)		(0.30	)		(1.55	)		0.62			20.83		10.78	(d)		271,859		0.88			0.88			(0.05	)		—

221

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights — (continued)


	*— Selected Per-Share Data (#) —*																				*— Ratios and Supplemental Data —*
							*Net*
							*Realized*																	*Net*										*Ratio of*			*Ratio of*			*Ratio of*
							*and*									*Distributions*								*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*				*Unrealized*			*Total*			*Dividends*			*from*								*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*		*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*					*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*		*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*		*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*		*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*		*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford SmallCap Growth HLS Fund — (continued)
For the Year Ended December 31, 2004
Class IA	$	17.55	$	0.04	$	—	$	2.67		$	2.71		$	—		$	—		$	—	$	—		$	2.71		$	20.26		15.43	%	$	503,717		0.64	%		0.64	%		0.27	%		88	%
Class IB		17.55		0.03		—		2.63			2.66			—			—			—		—			2.66			20.21		15.14			201,589		0.89			0.89			0.02			—
Hartford SmallCap Value HLS Fund
For the Year Ended December 31, 2008
Class IA		10.69		0.15		—		(3.27	)		(3.12	)		(0.12	)		(0.08	)		—		(0.20	)		(3.32	)		7.37		(29.36	)		58,193		0.95			0.95			1.65			54
Class IB		10.66		0.05		—		(3.19	)		(3.14	)		(0.11	)		(0.08	)		—		(0.19	)		(3.33	)		7.33		(29.57	)		2,898		1.20			1.20			1.90			—
For the Year Ended December 31, 2007
Class IA		12.99		0.18		—		(0.77	)		(0.59	)		(0.17	)		(1.54	)		—		(1.71	)		(2.30	)		10.69		(4.44	)		81,895		0.96			0.96			1.27			51
Class IB		12.97		0.11		—		(0.73	)		(0.62	)		(0.15	)		(1.54	)		—		(1.69	)		(2.31	)		10.66		(4.67	)		240		1.21			1.21			1.08			—
For the Year Ended December 31, 2006
Class IA		13.77		0.21		—		2.26			2.47			(0.20	)		(3.05	)		—		(3.25	)		(0.78	)		12.99		18.31			102,233		0.99			0.99			1.35			166
Class IB		13.74		0.17		—		2.27			2.44			(0.16	)		(3.05	)		—		(3.21	)		(0.77	)		12.97		18.02			171		1.24			1.24			1.07			—
For the Year Ended December 31, 2005
Class IA		16.61		0.15		—		1.08			1.23			(0.23	)		(3.84	)		—		(4.07	)		(2.84	)		13.77		8.11			103,350		0.92			0.92			0.94			49
Class IB		16.59		0.16		—		1.02			1.18			(0.19	)		(3.84	)		—		(4.03	)		(2.85	)		13.74		7.83			146		1.17			1.17			0.71			—
For the Year Ended December 31, 2004
Class IA		14.81		0.13		—		1.92			2.05			(0.10	)		(0.15	)		—		(0.25	)		1.80			16.61		13.98			114,296		0.92			0.92			0.80			51
Class IB		14.78		0.15		—		1.91			2.06			(0.10	)		(0.15	)		—		(0.25	)		1.81			16.59		14.06			32		1.17			1.17			0.55			—
Hartford Stock HLS Fund
For the Year Ended December 31, 2008
Class IA		47.11		0.59		—		(20.79	)		(20.20	)		(0.81	)		(0.24	)		—		(1.05	)		(21.25	)		25.86		(43.13	)		1,810,864		0.49			0.49			1.38			89
Class IB		47.00		0.50		—		(20.72	)		(20.22	)		(0.70	)		(0.24	)		—		(0.94	)		(21.16	)		25.84		(43.27	)		287,794		0.74			0.74			1.13			—
For the Year Ended December 31, 2007
Class IA		52.57		0.60		—		2.43			3.03			(0.57	)		(7.92	)		—		(8.49	)		(5.46	)		47.11		5.90			3,909,045		0.49			0.49			1.01			96
Class IB		52.45		0.45		—		2.44			2.89			(0.42	)		(7.92	)		—		(8.34	)		(5.45	)		47.00		5.64			652,838		0.74			0.74			0.76			—
For the Year Ended December 31, 2006
Class IA		49.21		0.72		0.06		6.41			7.19			(0.71	)		(3.12	)		—		(3.83	)		3.36			52.57		14.65	(d)		4,498,001		0.49			0.49			1.27			97
Class IB		49.10		0.56		0.06		6.42			7.04			(0.57	)		(3.12	)		—		(3.69	)		3.35			52.45		14.37	(d)		758,802		0.74			0.74			1.02			—
For the Year Ended December 31, 2005
Class IA		45.72		0.66		—		3.72			4.38			(0.89	)		—			—		(0.89	)		3.49			49.21		9.62			4,787,612		0.50			0.50			1.21			91
Class IB		45.59		0.51		—		3.74			4.25			(0.74	)		—			—		(0.74	)		3.51			49.10		9.35			770,163		0.75			0.75			0.96			—
For the Year Ended December 31, 2004
Class IA		44.37		0.74		—		1.10			1.84			(0.49	)		—			—		(0.49	)		1.35			45.72		4.17			5,657,942		0.49			0.49			1.61			30
Class IB		44.29		0.64		—		1.08			1.72			(0.42	)		—			—		(0.42	)		1.30			45.59		3.91			718,293		0.74			0.74			1.36			—
Hartford Total Return Bond HLS Fund
For the Year Ended December 31, 2008
Class IA		11.15		0.62		—		(1.49	)		(0.87	)		(0.74	)		—			—		(0.74	)		(1.61	)		9.54		(7.62	)		3,167,919		0.49			0.49			5.54			173
Class IB		11.09		0.67		—		(1.55	)		(0.88	)		(0.71	)		—			—		(0.71	)		(1.59	)		9.50		(7.85	)		740,580		0.74			0.74			5.27			—
For the Year Ended December 31, 2007 (k)
Class IA		11.24		0.60		—		(0.08	)		0.52			(0.61	)		—			—		(0.61	)		(0.09	)		11.15		4.67			3,458,709		0.49			0.49			5.27			223
Class IB		11.19		0.57		—		(0.09	)		0.48			(0.58	)		—			—		(0.58	)		(0.10	)		11.09		4.41			1,036,331		0.74			0.74			5.01			—
For the Year Ended December 31, 2006 (k)
Class IA		11.27		0.55		—		(0.01	)		0.54			(0.57	)		—			—		(0.57	)		(0.03	)		11.24		4.80	(d)		3,041,321		0.50			0.50			4.82			344
Class IB		11.20		0.51		—		—			0.51			(0.52	)		—			—		(0.52	)		(0.01	)		11.19		4.54	(d)		1,040,408		0.75			0.75			4.56			—
For the Year Ended December 31, 2005
Class IA		11.94		0.44		—		(0.14	)		0.30			(0.88	)		(0.09	)		—		(0.97	)		(0.67	)		11.27		2.45			2,745,115		0.50			0.50			4.09			190
Class IB		11.86		0.43		—		(0.17	)		0.26			(0.83	)		(0.09	)		—		(0.92	)		(0.66	)		11.20		2.19			1,068,600		0.75			0.75			3.84			—
For the Year Ended December 31, 2004
Class IA		12.32		0.40		—		0.12			0.52			(0.58	)		(0.32	)		—		(0.90	)		(0.38	)		11.94		4.62			2,507,021		0.50			0.50			3.72			164
Class IB		12.25		0.45		—		0.04			0.49			(0.56	)		(0.32	)		—		(0.88	)		(0.39	)		11.86		4.36			991,065		0.75			0.75			3.47			—
Hartford U.S. Government Securities HLS Fund
For the Year Ended December 31, 2008
Class IA		11.15		0.44		—		(0.51	)		(0.07	)		(0.89	)		—			—		(0.89	)		(0.96	)		10.19		(0.64	)		1,243,275		0.46			0.46			4.56			83
Class IB		11.10		0.18		—		(0.29	)		(0.11	)		(0.83	)		—			—		(0.83	)		(0.94	)		10.16		(0.89	)		334,013		0.71			0.71			4.31			—
For the Year Ended December 31, 2007 (k)
Class IA		11.13		0.54		—		(0.07	)		0.47			(0.45	)		—			—		(0.45	)		0.02			11.15		4.38			925,088		0.47			0.47			4.86			95
Class IB		11.07		0.51		—		(0.06	)		0.45			(0.42	)		—			—		(0.42	)		0.03			11.10		4.12			297,934		0.72			0.72			4.61			—

222


	*— Selected Per-Share Data (#) —*																				*— Ratios and Supplemental Data —*
							*Net*
							*Realized*																	*Net*										*Ratio of*			*Ratio of*			*Ratio of*
							*and*									*Distributions*								*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*				*Unrealized*			*Total*			*Dividends*			*from*								*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*		*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*					*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*		*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*		*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*		*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*		*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford U.S. Government Securities HLS Fund — (continued)
For the Year Ended December 31, 2006 (k)
Class IA	$	11.09	$	0.49	$	—	$	(0.06	)	$	0.43		$	(0.39	)	$	—		$	—	$	(0.39	)	$	0.04		$	11.13		4.01	%	$	711,639		0.48	%		0.48	%		4.48	%		199	%
Class IB		11.03		0.46		—		(0.06	)		0.40			(0.36	)		—			—		(0.36	)		0.04			11.07		3.75			290,963		0.73			0.73			4.21			—
For the Year Ended December 31, 2005
Class IA		11.24		0.35		—		(0.17	)		0.18			(0.33	)		—			—		(0.33	)		(0.15	)		11.09		1.55			591,007		0.47			0.47			3.60			257
Class IB		11.19		0.37		—		(0.22	)		0.15			(0.31	)		—			—		(0.31	)		(0.16	)		11.03		1.30			323,920		0.72			0.72			3.34			—
For the Year Ended December 31, 2004
Class IA		11.43		0.29		—		(0.07	)		0.22			(0.41	)		—			—		(0.41	)		(0.19	)		11.24		2.07			523,819		0.47			0.47			3.08			247
Class IB		11.39		0.37		—		(0.18	)		0.19			(0.39	)		—			—		(0.39	)		(0.20	)		11.19		1.82			294,711		0.72			0.72			2.83			—
Hartford Value HLS Fund
For the Year Ended December 31, 2008
Class IA		12.83		0.20		—		(4.36	)		(4.16	)		(0.20	)		(0.70	)		—		(0.90	)		(5.06	)		7.77		(34.03	)		217,460		0.84			0.84			1.87			57
Class IB		12.81		0.20		—		(4.37	)		(4.17	)		(0.17	)		(0.70	)		—		(0.87	)		(5.04	)		7.77		(34.20	)		63,338		1.09			1.09			1.62			—
For the Year Ended December 31, 2007
Class IA		13.06		0.17		—		1.02			1.19			(0.17	)		(1.25	)		—		(1.42	)		(0.23	)		12.83		8.98			327,689		0.84			0.84			1.42			35
Class IB		13.03		0.16		—		1.00			1.16			(0.13	)		(1.25	)		—		(1.38	)		(0.22	)		12.81		8.70			131,651		1.09			1.09			1.14			—
For the Year Ended December 31, 2006
Class IA		11.18		0.15		—		2.23			2.38			(0.15	)		(0.35	)		—		(0.50	)		1.88			13.06		21.82	(d)		277,982		0.85			0.85			1.37			40
Class IB		11.14		0.13		—		2.21			2.34			(0.10	)		(0.35	)		—		(0.45	)		1.89			13.03		21.52	(d)		148,135		1.10			1.10			1.10			—
For the Year Ended December 31, 2005
Class IA		10.73		0.15		—		0.71			0.86			(0.27	)		(0.14	)		—		(0.41	)		0.45			11.18		8.13			193,655		0.86			0.86			1.42			30
Class IB		10.67		0.10		—		0.73			0.83			(0.22	)		(0.14	)		—		(0.36	)		0.47			11.14		7.86			129,771		1.11			1.11			1.17			—
For the Year Ended December 31, 2004
Class IA		9.72		0.13		—		0.91			1.04			(0.03	)		—			—		(0.03	)		1.01			10.73		10.71			162,644		0.87			0.87			1.36			45
Class IB		9.69		0.12		—		0.89			1.01			(0.03	)		—			—		(0.03	)		0.98			10.67		10.43			120,227		1.12			1.12			1.11			—
Hartford Value Opportunities HLS Fund
For the Year Ended December 31, 2008
Class IA		15.42		0.20		—		(6.50	)		(6.30	)		(0.26	)		(0.09	)		—		(0.35	)		(6.65	)		8.77		(41.06	)		200,913		0.64			0.64			1.42			59
Class IB		15.35		0.18		—		(6.47	)		(6.29	)		(0.22	)		(0.09	)		—		(0.31	)		(6.60	)		8.75		(41.21	)		46,917		0.89			0.89			1.17			—
For the Year Ended December 31, 2007
Class IA		19.74		0.25		—		(1.48	)		(1.23	)		(0.25	)		(2.84	)		—		(3.09	)		(4.32	)		15.42		(6.29	)		456,402		0.64			0.64			1.21			57
Class IB		19.64		0.22		—		(1.48	)		(1.26	)		(0.19	)		(2.84	)		—		(3.03	)		(4.29	)		15.35		(6.53	)		122,159		0.89			0.89			0.96			—
For the Year Ended December 31, 2006
Class IA		18.93		0.25		0.01		3.14			3.40			(0.26	)		(2.33	)		—		(2.59	)		0.81			19.74		19.02	(d)		508,648		0.64			0.64			1.31			52
Class IB		18.83		0.21		0.01		3.11			3.33			(0.19	)		(2.33	)		—		(2.52	)		0.81			19.64		18.73	(d)		164,151		0.89			0.89			1.05			—
For the Year Ended December 31, 2005
Class IA		18.16		0.14		—		1.34			1.48			(0.26	)		(0.45	)		—		(0.71	)		0.77			18.93		8.32			390,113		0.65			0.65			1.05			52
Class IB		18.06		0.09		—		1.33			1.42			(0.20	)		(0.45	)		—		(0.65	)		0.77			18.83		8.05			151,960		0.90			0.90			0.79			—
For the Year Ended December 31, 2004
Class IA		15.33		0.13		—		2.75			2.88			(0.05	)		—			—		(0.05	)		2.83			18.16		18.87			259,593		0.67			0.67			1.10			80
Class IB		15.27		0.11		—		2.72			2.83			(0.04	)		—			—		(0.04	)		2.79			18.06		18.58			81,772		0.92			0.92			0.85			—


(a)		The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.
(b)		Ratios do not reflect reductions for fees paid indirectly. Please see Note 5(f).
(c)		Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(d)		Total return without the inclusion of the Payment from (to) Affiliate, as noted on the Statement of Operations, can be found in Note 5(h).
(e)		Commenced operations on January 31, 2008.
(f)		Not annualized
(g)		Annualized
(h)		Commenced operations on March 31, 2008.
(i)		During the year ended December 31, 2007, Hartford Small Company HLS Fund received a $12.6 million in-kind subscription of securities from a shareholder in exchange for shares of this Fund. This payment-in-kind was excluded from the portfolio turnover rate calculation.
(j)		During the year ended December 31, 2008, Hartford Global Equity HLS Fund incurred $95.4 million in sales associated with the transition of assets from Hartford Global Communications HLS Fund, Hartford Financial Services HLS Fund and Hartford Global Technology HLS Fund, which merged into Hartford Global Equity HLS Fund on August 22, 2008. These sales were excluded from the portfolio turnover rate calculation.
(k)		Per share amounts have been calculated using the average shares method.
#		Information presented relates to a share outstanding throughout the indicated period.

223

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc. and
Hartford HLS Series Fund II, Inc.

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Equity Income HLS Fund, Hartford Fundamental Growth HLS Fund, Hartford Global Advisers HLS Fund, Hartford Global Equity HLS Fund, Hartford Global Growth HLS Fund, Hartford Global Health HLS Fund, Hartford Growth HLS Fund, Hartford High Yield HLS Fund, Hartford Index HLS Fund, Hartford International Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford International Small Company HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund, and Hartford Value HLS Fund (twenty-three of the thirty-four portfolios constituting Hartford Series Fund, Inc.) and Hartford Growth Opportunities HLS Fund, Hartford LargeCap Growth HLS Fund, Hartford MidCap Growth HLS Fund, Hartford SmallCap Growth HLS Fund, Hartford SmallCap Value HLS Fund, Hartford U.S. Government Securities HLS Fund, and Hartford Value Opportunities HLS Fund (seven portfolios constituting Hartford HLS Series Fund II, Inc.) (collectively, the “Funds”) as of December 31, 2008, and the related statements of operations, the statements of changes in net assets, and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds’ internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of December 31, 2008, by correspondence with the custodian, agent banks and brokers or by other appropriate auditing procedures where replies from agent banks or brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the Funds listed above constituting portfolios within Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. at December 31, 2008, the results of their operations, the changes in their net assets, and the financial highlights for each of the periods indicated therein, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 24, 2009

224

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Funds and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Funds pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Funds. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 104 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut, 06104-2999, except that correspondence to Ms. Fagely and Ms. Settimi may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, age, current position with the Funds and date first elected or appointed to Hartford Series Fund, Inc. (“SF”) and Hartford HLS Series Fund II, Inc. (“SF2”), principal occupation, and, for directors, other directorships held. The Funds’ statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Information on the aggregate remuneration paid to the directors by each Fund can be found in the Statements of Operations herein. The Funds pay a portion of the Chief Compliance Officer’s compensation, but otherwise do not pay salaries or compensation to any of their officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong* (age 62) Director since 2003, Co-Chairman of the Investment Committee

Mr. Birdsong is a private investor. Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an advertising specialty firm. Since 2003, Mr. Birdsong has been an independent director of The Japan Fund. From 2003 to March 2005, Mr. Birdsong was an independent director of the Atlantic Whitehall Funds. From 1979 to 2002, Mr. Birdsong was a managing director of Zurich Scudder Investments, an investment management firm. During his employment with Scudder, Mr. Birdsong was an interested director of The Japan Fund.

* Mr. Birdsong holds a beneficial ownership interest in the common stock of Wells Fargo & Company (“Wells Fargo”). On October 3, 2008, Wells Fargo agreed to acquire Wachovia Corporation, a majority shareholder of Metropolitan West Capital Management, LLC (“MetWest Capital”), a sub-adviser to the Hartford SmallCap Value HLS Fund (“SmallCap Value Fund”). On October 20, 2008, Wells Fargo purchased preferred stock of Wachovia Corporation with a voting interest greater than 25%. On December 31, 2008, the merger was completed. As a result of these transactions, Wells Fargo may be deemed to control MetWest Capital as of October 20, 2008. Because of his beneficial ownership interest in Wells Fargo common stock, Mr. Birdsong is not considered to be an independent director with respect to the SmallCap Value Fund effective as of October 20, 2008.

Robert M. Gavin, Jr. (age 68) Director since 2002 (SF) and 1986 (SF2), Chairman of the Board since 2004

Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was President of Cranbrook Education Community and prior to July 1996, he was President of Macalester College, St. Paul, Minnesota.

Duane E. Hill (age 63) Director since 2001 (SF) and 2002 (SF2), Chairman of the Nominating Committee

Mr. Hill is a Partner of TSG Ventures L.P., a private equity investment company. Mr. Hill is a former partner of TSG Capital Group, a private equity investment firm that serves as sponsor and lead investor in leveraged buyouts of middle market companies.

Sandra S. Jaffee (age 67) Director since 2005

Ms. Jaffee is Chairman and Chief Executive Officer of Fortent (formerly Searchspace Group), a leading provider of compliance/regulatory technology to financial institutions. Ms. Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a private equity firm, from August 2004 to August 2005. From September 1995 to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup, where she was President and Chief Executive Officer of Citibank’s Global Securities Services (1995-2003).

William P. Johnston (age 64) Director since 2005, Chairman of the Compliance Committee

In February 2008, Mr. Johnston was elected to the Board of Directors of HCR-ManorCare, Inc. In August 2007, Mr. Johnston was elected to the Board of Directors of LifeCare Holdings, Inc. In July, 2006, Mr. Johnston was elected to the Board of Directors of MultiPlan, Inc. In June 2006, Mr. Johnston was appointed as Senior Advisor to The Carlyle Group, a global private equity investment firm. In May 2006, Mr. Johnston was elected to the Supervisory Board of Fresenius Medical Care AG & Co. KGaA, after its acquisition of Renal Care Group, Inc. in March 2006. Mr. Johnston joined Renal Care Group, Inc. in November 2002 as a member of the Board of Directors and served as Chairman of the Board from March 2003 through March 2006. From September 1987 to December 2002, Mr. Johnston was with Equitable Securities Corporation (and its successors, SunTrust Equitable Securities and SunTrust Robinson Humphrey) serving in various investment banking and managerial positions, including Managing Director and Head of Investment Banking, Chief Executive Officer and Vice Chairman.

Phillip O. Peterson (age 64) Director since 2002 (SF) and 2000 (SF2), Chairman of the Audit Committee

Mr. Peterson is a mutual fund industry consultant. He was a partner of KPMG LLP (an accounting firm) until July 1999. Mr. Peterson joined William Blair Funds in February 2007 as a member of the Board of Trustees. From January 2004 to April 2005, Mr. Peterson served as Independent President of the Strong Mutual Funds.

Lemma W. Senbet (age 62) Director since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department during 1998-2006. Previously he was an endowed professor of finance at the University of Wisconsin-Madison. Also, he was director of the Fortis Funds from March 2000-July 2002. Dr. Senbet served the finance profession in various capacities, including as director of the American Finance Association and President of the Western Finance Association. In 2006, Dr. Senbet was inducted Fellow of Financial Management Association International for his career-long distinguished scholarship and professional service.

225

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Directors and Officers (Unaudited) — (continued)

Interested Directors and Officers

Thomas M. Marra (age 50) Director since 2002

Mr. Marra has served as President and Chief Operating Officer of The Hartford Financial Services Group, Inc. (“The Hartford”) since 2007. Mr. Marra is also a member of the Board of Directors of The Hartford and currently serves as a Director of Hartford Life, Inc. (“HL, Inc.”). Mr. Marra served as COO of HL, Inc. from 2000 to 2008 and as President of HL, Inc. from 2002 to 2008.

Lowndes A. Smith (age 69) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

Mr. Smith served as Vice Chairman of The Hartford from February 1997 to January 2002, as President and Chief Executive Officer of HL, Inc. from February 1997 to January 2002, and as President and Chief Operating Officer of The Hartford Life Insurance Companies from January 1989 to January 2002.

John C. Walters (age 47) Director since 2008, President and Chief Executive Officer since 2007

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of HL, Inc. (2006-2007), as Co-Chief Operating Officer of Hartford Life Insurance Company (“Hartford Life”) (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2005). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life and as Executive Vice President of The Hartford. In addition, Mr. Walters serves as a Manager of HL Investment Advisors, LLC (“HL Advisors”).

Other Officers

Robert M. Arena, Jr. (age 40) Vice President since 2006

Mr. Arena serves as Executive Vice President of Hartford Life. Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company (“HASCO”), Chief Executive Officer, Manager and President of Hartford Investment Financial Services, LLC. (“HIFSCO”) and Chief Executive Officer, Manager and President of HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Scandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 50) Vice President, Treasurer, and Controller since 1993

Ms. Fagely has been a Vice President of HASCO since 1998 and Chief Financial Officer since 2006. Currently Ms. Fagely is a Vice President of Hartford Life. She served as Assistant Vice President of Hartford Life from December 2001 through March 2005. In addition she is Controller and Chief Financial Officer of HIFSCO.

Brian Ferrell (age 46) AML Compliance Officer since 2008

Mr. Ferrell has served as Assistant Vice President and AML Compliance Officer for The Hartford since 2006 and AML Compliance Officer for HASCO and for Hartford Investor Services Company, LLC, (“HISC”) since 2008. Prior to joining The Hartford in 2006, Mr. Ferrell held various positions at the U.S. Department of the Treasury, (the “Treasury”), from 2001 to 2006 where he served as Chief Counsel for the Treasury’s Financial Crimes Enforcement Network, (“FinCEN”) from 2005-2006.

Thomas D. Jones, III (age 43) Vice President and Chief Compliance Officer since 2006

Mr. Jones serves as Chief Compliance Officer for the Hartford Mutual Funds and Vice President and Director of Securities Compliance for The Hartford. He is also Vice President of HIFSCO, HL Advisors, and Hartford Life. Mr. Jones joined The Hartford in 2006 from SEI Investments, where he served as Chief Compliance Officer for its mutual funds and investment advisers. Prior to joining SEI, Mr. Jones was First Vice President and Compliance Director for Merrill Lynch Investment Managers (Americas) (“MLIM”), where he worked from 1992-2004. At MLIM, Mr. Jones was responsible for the compliance oversight of various investment products, including mutual funds, wrap accounts, institutional accounts and alternative investments.

Edward P. Macdonald (age 41) Vice President, Secretary and Chief Legal Officer since 2005

Mr. Macdonald serves as Assistant Vice President of Hartford Life and Chief Legal Officer and Vice President of HIFSCO. He also serves as Vice President of HASCO, and Chief Legal Officer, Secretary and Vice President of HL Advisors. Prior to joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment Management for Prudential Financial (formerly American Skandia Investment Services, Inc.). He joined Prudential in April 1999.

Vernon J. Meyer (age 44) Vice President since 2006

Mr. Meyer serves as Senior Vice President of Hartford Life. He also serves as Senior Vice President of HIFSCO and HL Advisors. Prior to joining The Hartford in 2004, Mr. Meyer was with MassMutual which he joined in 1987.

Denise A. Settimi (age 48) Vice President since 2005

Ms. Settimi currently serves as Chief Operating Officer and Assistant Vice President of HASCO. She is also Assistant Vice President of HIFSCO and Hartford Life. Previously, Ms. Settimi was with American Express Financial Advisors, where she was Director of Retirement Plan Services from 1997 to 2003.

226

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Shareholder Meeting Results (Unaudited)

The following proposals were addressed and approved at a Special Meeting of Shareholders held on August 12, 2008.


1.	Proposal to approve a plan of reorganization providing for the acquisition of all the assets and liabilities of Hartford Global Financial Services HLS Fund (the “Acquired Financial Services Fund”) by Hartford Global Equity HLS Fund (the “Acquiring Fund”) solely in exchange for shares of the Acquiring Fund, followed by the complete liquidation of the Acquired Financial Services Fund.

Fund

For

Against

Abstain

Hartford Global Financial Services HLS Fund

2,361,918.005

69,284.508

199,034.816


2.	Proposal to approve a plan of reorganization providing for the acquisition of all the assets and liabilities of Hartford Global Technology HLS Fund (the “Acquired Technology Fund”) by Hartford Global Equity HLS Fund (the “Acquiring Fund”) solely in exchange for shares of the Acquiring Fund, followed by the complete liquidation of the Acquired Technology Fund.

Fund

For

Against

Abstain

Hartford Global Technology HLS Fund

11,610,192.556

349,004.905

2,040,912.760


3.	Proposal to approve a plan of reorganization providing for the acquisition of all the assets and liabilities of Hartford Global Communications HLS Fund (the “Acquired Communications Fund”) by Hartford Global Equity HLS Fund (the “Acquiring Fund”) solely in exchange for shares of the Acquiring Fund, followed by the complete liquidation of the Acquired Communications Fund.

Fund

For

Against

Abstain

Hartford Global Communications HLS Fund

1,959,731.377

120,768.584

241,419.577

The following proposal was addressed and approved at a Special Meeting of Shareholders held on September 3, 2008.

Proposal to approve a plan of reorganization providing for the acquisition of all the assets and liabilities of Hartford Mortgage Securities HLS Fund (the “Acquired Fund”) by Hartford U.S. Government Securities HLS Fund (the “Acquiring Fund”) solely in exchange for shares of the Acquiring Fund, followed by a complete liquidation of the Acquired Fund.

Fund

For

Against

Abstain

Hartford Mortgage Securities HLS Fund

32,803,933.283

1,264,373.455

4,167,673.398

HOW TO OBTAIN A COPY OF THE FUNDS’ PROXY VOTING POLICIES AND PROXY VOTING RECORDS (UNAUDITED)

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities and a record of how the Funds voted any proxies for the twelve month period ended June 30, 2008 is available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION (UNAUDITED)

The Funds file a complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Form N-Q will be available (1) without charge, upon request, by calling 800-862-6668 and (2) on the Securities and Exchange Commission’s website at www.sec.gov. The Forms N-Q may be reviewed and copied at the Securities and Exchange Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-202-551-8090.

227

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs(in dollars) of investing in the Fund and to 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 the beginning of the period and held for the period of June 30, 2008 through December 31, 2008.

Actual Expenses

The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, 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 first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) and CDSC. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/366 (to reflect the one-half year period).


					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2008		Account		Account		June 30, 2008		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2008		December 31, 2008		December 31, 2008		June 30, 2008		December 31, 2008		December 31, 2008		ratio			1/2 year		full year
Hartford Advisers HLS Fund
Class IA	$	1,000.00	$	755.45	$	2.77	$	1,000.00	$	1,021.96	$	3.20		0.63	%		184		366
Class IB	$	1,000.00	$	754.50	$	3.88	$	1,000.00	$	1,020.71	$	4.46		0.88	%		184		366
Hartford Capital Appreciation HLS Fund
Class IA	$	1,000.00	$	597.33	$	2.64	$	1,000.00	$	1,020.79	$	3.35		0.66	%		184		366
Class IB	$	1,000.00	$	597.18	$	3.65	$	1,000.00	$	1,020.56	$	4.62		0.91	%		184		366
Hartford Disciplined Equity HLS Fund
Class IA	$	1,000.00	$	714.98	$	3.10	$	1,000.00	$	1,021.51	$	3.65		0.72	%		184		366
Class IB	$	1,000.00	$	714.08	$	4.17	$	1,000.00	$	1,020.26	$	4.92		0.97	%		184		366
Hartford Dividend and Growth HLS Fund
Class IA	$	1,000.00	$	742.47	$	2.89	$	1,000.00	$	1,021.81	$	3.35		0.66	%		184		366
Class IB	$	1,000.00	$	741.53	$	3.98	$	1,000.00	$	,1020.56	$	4.62		0.91	%		184		366
Hartford Equity Income HLS Fund
Class IA	$	1,000.00	$	809.04	$	3.81	$	1,000.00	$	1,020.91	$	4.26		0.84	%		184		366
Class IB	$	1,000.00	$	808.01	$	4.95	$	1,000.00	$	1,019.65	$	5.53		1.09	%		184		366
Hartford Fundamental Growth HLS Fund
Class IA	$	1,000.00	$	628.84	$	3.43	$	1,000.00	$	1,020.91	$	4.26		0.84	%		184		366
Class IB	$	1,000.00	$	628.06	$	4.46	$	1,000.00	$	1,019.65	$	5.53		1.09	%		184		366
Hartford Global Advisers HLS Fund
Class IA	$	1,000.00	$	730.97	$	3.52	$	1,000.00	$	1,021.06	$	4.11		0.81	%		184		366
Class IB	$	1,000.00	$	730.06	$	4.60	$	1,000.00	$	1,019.80	$	5.38		1.06	%		184		366
Hartford Global Equity HLS Fund
Class IA	$	1,000.00	$	634.81	$	3.94	$	1,000.00	$	1,020.31	$	4.87		0.96	%		184		366
Class IB	$	1,000.00	$	634.01	$	4.88	$	1,000.00	$	1,019.15	$	6.03		1.19	%		184		366
Hartford Global Growth HLS Fund
Class IA	$	1,000.00	$	552.16	$	2.92	$	1,000.00	$	1,021.36	$	3.81		0.75	%		184		366
Class IB	$	1,000.00	$	551.46	$	3.89	$	1,000.00	$	1,020.10	$	5.07		1.00	%		184		366
Hartford Global Health HLS Fund
Class IA	$	1,000.00	$	813.65	$	3.96	$	1,000.00	$	1,020.76	$	4.41		0.87	%		184		366
Class IB	$	1,000.00	$	812.63	$	5.10	$	1,000.00	$	1,019.50	$	5.68		1.12	%		184		366

228


					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2008		Account		Account		June 30, 2008		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2008		December 31, 2008		December 31, 2008		June 30, 2008		December 31, 2008		December 31, 2008		ratio			1/2 year		full year
Hartford Growth HLS Fund
Class IA	$	1,000.00	$	631.93	$	3.48	$	1,000.00	$	1,020.86	$	4.31		0.85	%		184		366
Class IB	$	1,000.00	$	631.14	$	4.51	$	1,000.00	$	1,019.60	$	5.58		1.10	%		184		366
Hartford Growth Opportunities HLS Fund
Class IA	$	1,000.00	$	611.41	$	2.51	$	1,000.00	$	1,022.01	$	3.15		0.62	%		184		366
Class IB	$	1,000.00	$	610.64	$	3.52	$	1,000.00	$	1,020.76	$	4.41		0.87	%		184		366
Hartford High Yield HLS Fund
Class IA	$	1,000.00	$	763.63	$	3.23	$	1,000.00	$	1,021.46	$	3.70		0.73	%		184		366
Class IB	$	1,000.00	$	762.66	$	4.34	$	1,000.00	$	1,020.20	$	4.97		0.98	%		184		366
Hartford Index HLS Fund
Class IA	$	1,000.00	$	714.17	$	1.33	$	1,000.00	$	1,022.55	$	1.57		0.31	%		184		366
Class IB	$	1,000.00	$	713.98	$	2.41	$	1,000.00	$	1,022.32	$	2.84		0.56	%		184		366
Hartford International Growth HLS Fund
Class IA	$	1,000.00	$	530.83	$	3.30	$	1,000.00	$	1,020.81	$	4.36		0.86	%		184		366
Class IB	$	1,000.00	$	530.17	$	4.26	$	1,000.00	$	1,019.55	$	5.63		1.11	%		184		366
Hartford International Opportunities HLS Fund
Class IA	$	1,000.00	$	650.94	$	2.98	$	1,000.00	$	1,021.51	$	3.65		0.72	%		184		366
Class IB	$	1,000.00	$	650.12	$	4.02	$	1,000.00	$	1,020.26	$	4.92		0.97	%		184		366
Hartford International Small Company HLS Fund
Class IA	$	1,000.00	$	630.44	$	3.64	$	1,000.00	$	1,019.64	$	4.51		0.89	%		184		366
Class IB	$	1,000.00	$	630.27	$	4.67	$	1,000.00	$	1,019.40	$	5.78		1.14	%		184		366
Hartford LargeCap Growth HLS Fund
Class IA	$	1,000.00	$	636.54	$	2.63	$	1,000.00	$	1,021.91	$	3.25		0.64	%		184		366
Class IB	$	1,000.00	$	635.66	$	3.41	$	1,000.00	$	1,020.96	$	4.21		0.83	%		184		366
Hartford MidCap HLS Fund
Class IA	$	1,000.00	$	665.00	$	2.88	$	1,000.00	$	1,021.66	$	3.50		0.69	%		184		366
Class IB	$	1,000.00	$	664.11	$	3.93	$	1,000.00	$	1,020.41	$	4.77		0.94	%		184		366
Hartford MidCap Growth HLS Fund
Class IA	$	1,000.00	$	589.16	$	3.39	$	1,000.00	$	1,020.86	$	4.31		0.85	%		184		366
Class IB	$	1,000.00	$	588.50	$	4.39	$	1,000.00	$	1,019.60	$	5.58		1.10	%		184		366
Hartford MidCap Value HLS Fund
Class IA	$	1,000.00	$	709.26	$	3.52	$	1,000.00	$	1,021.01	$	4.16		0.82	%		184		366
Class IB	$	1,000.00	$	708.37	$	4.59	$	1,000.00	$	1,019.75	$	5.43		1.07	%		184		366
Hartford Money Market HLS Fund
Class IA	$	1,000.00	$	1,007.46	$	2.16	$	1,000.00	$	1,022.97	$	2.18		0.43	%		184		366
Class IB	$	1,000.00	$	1,006.20	$	3.42	$	1,000.00	$	1,021.71	$	3.45		0.68	%		184		366
Hartford Small Company HLS Fund
Class IA	$	1,000.00	$	661.87	$	3.00	$	1,000.00	$	1,021.51	$	3.65		0.72	%		184		366
Class IB	$	1,000.00	$	661.70	$	4.05	$	1,000.00	$	1,021.28	$	4.93		0.97	%		184		366
Hartford SmallCap Growth HLS Fund
Class IA	$	1,000.00	$	671.95	$	2.68	$	1,000.00	$	1,021.91	$	3.25		0.64	%		184		366
Class IB	$	1,000.00	$	671.14	$	3.69	$	1,000.00	$	1,020.71	$	4.46		0.88	%		184		366
Hartford SmallCap Value HLS Fund
Class IA	$	1,000.00	$	805.54	$	4.26	$	1,000.00	$	1,020.41	$	4.77		0.94	%		184		366
Class IB	$	1,000.00	$	804.35	$	5.35	$	1,000.00	$	1,019.20	$	5.98		1.18	%		184		366
Hartford Stock HLS Fund
Class IA	$	1,000.00	$	662.77	$	2.00	$	1,000.00	$	1,021.70	$	2.43		0.48	%		184		366
Class IB	$	1,000.00	$	662.59	$	3.05	$	1,000.00	$	1,021.46	$	3.70		0.73	%		184		366
Hartford Total Return Bond HLS Fund
Class IA	$	1,000.00	$	926.44	$	2.37	$	1,000.00	$	1,022.67	$	2.49		0.49	%		184		366
Class IB	$	1,000.00	$	925.29	$	3.58	$	1,000.00	$	1,021.41	$	3.76		0.74	%		184		366
Hartford U.S. Government Securities HLS Fund
Class IA	$	1,000.00	$	990.96	$	2.25	$	1,000.00	$	1,022.87	$	2.28		0.45	%		184		366
Class IB	$	1,000.00	$	989.72	$	3.50	$	1,000.00	$	1,021.61	$	3.55		0.70	%		184		366
Hartford Value HLS Fund
Class IA	$	1,000.00	$	730.02	$	3.65	$	1,000.00	$	1,020.91	$	4.26		0.84	%		184		366
Class IB	$	1,000.00	$	729.09	$	4.73	$	1,001.00	$	1,019.65	$	5.53		1.09	%		184		366
Hartford Value Opportunities HLS Fund
Class IA	$	1,000.00	$	721.91	$	2.72	$	1,000.00	$	1,021.96	$	3.20		0.63	%		184		366
Class IB	$	1,000.00	$	721.00	$	3.80	$	1,000.00	$	1,020.71	$	4.46		0.88	%		184		366

229

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)

Section 15(c) of the Investment Company Act of 1940, as amended (the “1940 Act”), requires that each mutual fund’s board of directors, including a majority of those directors who are not “interested persons” of the mutual fund, as defined in the 1940 Act (“Independent Directors”), annually review and consider the continuation of the mutual fund’s investment advisory and sub-advisory agreements after an initial two year period.

At a meeting held on August 5-6, 2008, the Boards of Directors (the “Board”) of the Funds, including each of the Independent Directors, unanimously voted to approve the investment management agreement for each Fund with an agreement up for renewal with HL Investment Advisors, LLC (“HL Advisors”), and the investment sub-advisory agreements between HL Advisors and each Fund’s respective sub-adviser(s) (“Sub-advisers,” and together with HL Advisors, “Advisers”) — Hartford Investment Management Company (“Hartford Investment Management”), Kayne Anderson Rudnick Investment Management, LLC, Metropolitan West Capital Management, LLC, SSgA Funds Management, Inc., and Wellington Management Company, LLP (collectively, the “Agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the Advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about each Fund and the related Agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 24-25, 2008 and August 5-6, 2008. In considering the approval of the Agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Funds by the Advisers, and their affiliates.

In considering the renewal of the Agreements, the Independent Directors were advised by independent legal counsel. In addition, the Independent Directors engaged two service providers to assist them with evaluating the Agreements with respect to each Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how each Fund’s management fees, administrative fees, overall expense ratios, and investment performance compared to those of mutual funds with similar investment objectives in various peer groups (“Peer Funds”). The Independent Directors also engaged an independent financial services consulting firm (the “Consultant”) to assist them in evaluating each Fund’s management fees, sub-advisory fees, administrative fees, overall expense ratios and investment performance.

The Board considered the Agreements for each Fund at the June and August meetings. In determining to continue the Agreements for each Fund, the Board determined that the proposed management fee structure for each Fund was fair and reasonable and that continuation of the Agreements was in the best interests of each Fund and its shareholders. In determining to renew the Agreements, the Board considered the following categories of material factors, among others, relating to the Agreements.

Nature, Extent And Quality Of Services

The Board requested and considered information concerning the nature, extent, and quality of the services provided to the Funds by the Advisers. The Board considered, among other things, the terms of the Agreements, the range of services provided, and the Advisers’ organizational structure, systems and personnel.¹( The Board received information on the experience of senior management and relevant investment and other personnel of the Advisers, and the adequacy of the time and attention devoted by them to the Funds. The Board considered each Adviser’s reputation and overall financial strength, as well as its commitment to expand the resources devoted to supporting Fund operations and to continuously evaluate whether additional support is needed, particularly in light of increased regulatory requirements and other developments. In addition, the Board considered the quality of each Adviser’s communications with the Board, and responsiveness to Board inquiries.

The Board also requested and reviewed information on each Adviser’s compliance policies and procedures, compliance history, and a report from the Funds’ Chief Compliance Officer on each Adviser’s compliance with applicable laws and regulations, including responses to regulatory developments and compliance issues raised by regulators. In doing so, the Board noted the Advisers’ support of the Funds’ compliance control structure, particularly the resources devoted by the Advisers in support of the Funds’ obligations pursuant to Rule 38a-1 under the 1940 Act.

With respect to HL Advisors, the Board noted that under the Agreements, HL Advisors is responsible for the management of each Fund, including overseeing fund operations and service providers, and it or Hartford Life provides administrative services to the Funds as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and, for certain Funds, Hartford Life, with respect to each of these services. The Board considered that HL Advisors or its affiliates are responsible for providing the Funds’ officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Funds and their shareholders by HL Advisors’ affiliates.

With respect to the Sub-advisers, who provide day-to-day portfolio management services, the Board considered the quality of each Sub-adviser’s investment personnel, their ability to attract and retain qualified investment professionals, their investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Funds by HL Advisors and each of the Sub-advisers.

Performance of the Funds, HL Advisors, and the Sub-Advisers

The Board considered the investment performance of each Fund. In this regard, the Board considered information and materials provided to the Board from HL Advisors and Lipper comparing each Fund’s short-term and long-term investment performance over various periods of time with appropriate benchmark indices, and with a performance universe of funds selected by Lipper. This information included performance reports (provided by Lipper and HL Advisors) and discussions with portfolio managers and other representatives of the Sub-advisers at Board meetings throughout the year, as well as the information provided especially for the annual contract review. The Board also considered the analysis provided by the Consultant relating to each Fund’s performance track record.

(¹ Certain Funds have entered into investment management agreements with HL Advisors under which HL Advisors provides investment advisory and certain administrative services to those Funds. Other Funds have entered into investment management agreements with HL Advisors for investment advisory services, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to those Funds. For those Funds that have separate management and administrative agreements, the Board considered the fees payable under both agreements in the aggregate.

230

The Board considered HL Advisors’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Funds at periodic meetings throughout the year.

The Board reviewed the performance of each Fund over the different time periods presented in the materials and evaluated each Adviser’s analysis of the Funds’ performance for these time periods, with specific attention to information indicating underperformance of certain Funds for specific time periods relative to a peer group or benchmark, and the causes for such underperformance. In evaluating the performance of each Fund, the Board also considered whether the Fund had been in operation for a sufficient time period to establish a meaningful performance track record. The Board also noted HL Advisors’ initiatives over the course of the year to improve Fund performance, including management’s action to institute portfolio manager changes for several Funds.

Based on these considerations, the Board concluded with respect to each Fund that the Fund’s performance over time has been satisfactory, and that it had continued confidence in HL Advisors’ and the Sub-advisers’ overall capabilities to manage each Fund.

Costs of the Services and Profitability

The Board reviewed information regarding HL Advisors’ cost to provide investment management and related services to the Funds and HL Advisors’ profitability, both overall and for each Fund, on a pre-tax basis without regard to distribution expenses. The Board also requested and reviewed information about the profitability to HL Advisors and its affiliates from all services provided to the Funds and all aspects of their relationship with the Funds.

With respect to those Funds which are sub-advised by Hartford Investment Management, an affiliate of HL Advisors, the Board considered the costs and profitability information for HL Advisors and Hartford Investment Management in the aggregate. The Board also requested and received information relating to the operations and profitability of the other Sub-advisers. In evaluating such Sub-advisers’ profitability with respect to the Funds, the Board considered primarily HL Advisors’ and the Sub-advisers’ representations that HL Advisors had negotiated the sub-advisory fees at arm’s-length, and the Sub-advisers’ representations that the fees charged to HL Advisors were comparable to fees charged by the Sub-advisers to similar clients.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the Advisers and their affiliates from their relationships with the Funds would not be excessive.

Comparison of Fees and Expenses

The Board considered comparative information with respect to the investment management fees to be paid by each Fund to HL Advisors and the total expense ratios of each Fund. In this regard, the Board requested and reviewed information from HL Advisors and each Sub-adviser relating to the management fees and total operating expenses for each Fund. The Board also reviewed written materials from Lipper providing comparative information about each Fund’s management fees and total expense ratios relative to those of peer groups. While the Board recognized that comparisons between the Funds and Peer Funds are imprecise, given the differing service levels and characteristics of mutual funds, and the different business models and cost structures of the Advisers, the comparative information provided by Lipper assisted the Board in evaluating the reasonableness of each Fund’s fees and expenses. In addition, the Board considered the analysis and recommendations of the Consultant relating to each Fund’s management fees and total operating expenses.

In considering the renewal of the Agreements, the Board noted in particular its agreement with HL Advisors with respect to the following matters: (i) the implementation of permanent breakpoints to reduce management fees with respect to certain Funds; (ii) the implementation of a permanent reduction in the contractual management fee for Money Market HLS Fund; and (iii) revision of the contractual fee waiver for Money Market HLS Fund. In its deliberations, the Board gave significant weight to each Fund’s overall expense ratio, net of these revisions. HL Advisors agreed to the following fee revisions, each effective January 1, 2009:


	•	Permanent breakpoint reductions:

HL Advisors agreed to implement permanent breakpoints to the following Funds’ fee schedules to reduce management fees by 0.0025% at $5 billion and an additional 0.0025% at $10 billion: Advisers HLS Fund, Capital Appreciation HLS Fund, Disciplined Equity HLS Fund, Dividend and Growth HLS Fund, Equity Income HLS Fund, Fundamental Growth HLS Fund, Global Advisers HLS Fund, Global Equity HLS Fund, Global Growth HLS Fund, Global Health HLS Fund, Growth HLS Fund, Growth Opportunities HLS Fund, International Growth HLS Fund, International Opportunities HLS Fund, International Small Company HLS Fund, MidCap HLS Fund, MidCap Value HLS Fund, SmallCap Value HLS Fund, Stock HLS Fund, Value HLS Fund, Value Opportunities HLS Fund

HL Advisors agreed to implement permanent breakpoints to the following Funds’ fee schedules to reduce management fees by 0.02% at $5 billion and an additional 0.01% at $10 billion:

LargeCap Growth HLS Fund, MidCap Growth HLS Fund, Small Company HLS Fund, SmallCap Growth HLS Fund


	•	Money Market HLS Fund: HL Advisors agreed to a permanent reduction in the fee rate on the first $2 billion of assets by 0.05%, which reduced the overall contractual management fees (on a weighted basis) by 0.028%. In addition, HL Advisors eliminated its 0.05% voluntary management fee waiver.

Based on these considerations, and the information about quality of services, profitability, economies of scale, and other matters discussed, the Board concluded that each Fund’s fees and total operating expenses are reasonable.

Economies of Scale

231

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Expense Example (Unaudited) — (continued)

base, noting that there is no precise way to measure such economies, and that certain expenses do not necessarily decrease as assets increase. The Board also considered that expense limitations and fee waivers that reduce Fund expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders, and that a schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale.

The Board reviewed and evaluated materials from Lipper showing how management fee schedules of Peer Funds reflect economies of scale for the benefit of investors as a Peer Fund’s assets hypothetically increase over time. Based on information provided by HL Advisors, Lipper, and the Consultant, the Board recognized that there is no uniform methodology for establishing breakpoints, or uniform pattern in asset levels that trigger breakpoints or the amounts of breakpoints triggered.

After considering all of the information available to it, the Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of each Fund’s investors, based on currently available information and the effective advisory fees and expense ratios for the Funds at their current and reasonably anticipated asset levels. The Board noted, however, that it would continue to monitor future growth in Fund assets and the appropriateness of additional breakpoints.

Other Benefits

The Board considered other benefits to the Advisers and their affiliates from their relationships with the Funds, including the role of the Funds in supporting the variable life insurance and variable annuity products offered by The Hartford. The Board reviewed information noting that Hartford Life, an affiliate of HL Advisors, receives fees from certain Funds for providing certain administrative services for those Funds, and that Hartford Life also receives fees for fund accounting and related services from each of the Funds, and the Board considered information on expected profits to Hartford Life or its affiliates for such services.

The Board also considered that Hartford Investor Services Company, LLC (“HISC”), the Funds’ transfer agent and an affiliate of HL Advisors, receives transfer agency compensation from the Funds, and the Board reviewed information on the expected profitability of the Funds’ transfer agency function to HISC. The Board considered information provided by HL Advisors indicating that the fees charged by HISC to the Funds are reasonable and in line with industry standards.

The Board also considered that Hartford Securities Distribution Company, Inc., as principal underwriter of the Funds, receives 12b-1 fees from the Funds. The Board also noted that certain affiliates of HL Advisors distribute shares of the Funds and receive compensation in that connection.

The Board considered benefits to the Sub-advisers from their proposed use of the Funds’ brokerage commissions to obtain soft dollar research, and representations from HL Advisors and the Sub-advisers that the Sub-advisers would not be making revenue-sharing or other payments to HL Advisors or its affiliates in connection with the distribution of the Funds.

The Board considered the benefits to shareholders of being part of the Hartford family of funds. The Board considered HL Advisors’ efforts to provide investors in the family with a broad range of investment styles and asset classes, and its entrepreneurial risk in initiating new Funds to expand these opportunities for shareholders.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of the Funds and their shareholders for the Board to approve the Agreements for an additional year. In reaching this decision, the Board did not assign relative weights to the factors discussed above or deem any one or group of them to be controlling in and of themselves. In connection with their deliberations, the Independent Directors met separately in executive session on several occasions, with independent legal counsel, to review the relevant materials and consider their responsibilities under relevant laws and regulations.

Hartford SmallCap Value HLS Fund

On October 3, 2008, Wachovia Corporation (“Wachovia”), the indirect parent company of Metropolitan West Capital Management, LLC (“MetWest Capital”), and Wells Fargo & Company (“Wells Fargo”) announced that Wells Fargo had agreed to purchase Wachovia. MetWest Capital is a sub-adviser to Hartford SmallCap Value HLS Fund (the “Fund”). Wachovia and Wells Fargo entered into an Agreement and Plan of Merger on October 3, 2008 that provides for Wachovia to merge into Wells Fargo, with Wells Fargo as the surviving corporation (the “Merger”). In connection with the Merger, Wachovia and Wells Fargo entered into a Share Exchange Agreement on October 3, 2008. Under the Share Exchange Agreement, Wachovia agreed to issue preferred shares to Wells Fargo representing a 39.9% voting interest in Wachovia. Wachovia issued the preferred shares to Wells Fargo after the close of business on October 20, 2008.

Due to its ownership of preferred shares, Wells Fargo may be deemed to control MetWest Capital. If Wells Fargo is deemed to control MetWest Capital, then the existing investment sub-advisory agreement between HL Investment Advisors, LLC (“HL Advisors”) and MetWest Capital (the “Original Agreement”) with respect to the Fund would have terminated automatically in connection with the issuance of preferred shares. To address this possibility, at a special telephonic meeting held on October 20, 2008, the Board of Directors (the “Board”), including each of the Independent Directors, unanimously voted to terminate the Original Agreement and approve an interim investment sub-advisory agreement between HL Advisors and MetWest Capital (the “Interim Agreement”) with respect to the Fund in reliance on Rule 15a-4 under the Investment Company Act of 1940, as amended. The Interim Agreement became effective upon the issuance of the preferred shares and was in effect until the Board formally approved a new investment sub-advisory agreement at an in-person meeting held on November 6, 2008 (the “New Agreement”).

In approving both the Interim Agreement and the New Agreement, the Board relied on information previously provided by HL Advisors and MetWest Capital in connection with the annual contract review on August 5-6, 2008, and the information provided to the Board at the October 20, 2008 and November 6, 2008 meetings, including information relating to the nature, extent, and quality of the services to be provided by HL Advisors and MetWest Capital; the investment performance of the Fund and MetWest Capital; the costs of the services to be provided and profitability of HL Advisors and MetWest Capital; comparisons of fees and services provided by HL Advisors and MetWest Capital; and the extent to which economies of scale would be realized as the Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund investors. The Board noted that the Interim Agreement and the New Agreement were substantially identical to the Original Agreement, including in each case with respect to fees payable to MetWest Capital. In addition, at the October 20, 2008 and November 6,

232

Hartford Series Fund, Inc.

Table

Contents


Manager Discussions (Unaudited)		1
Hartford Series Fund, Inc. Financial Statements:
Schedule of Investments as of December 31, 2008:
American Funds Asset Allocation HLS Fund		12
American Funds Blue Chip Income and Growth HLS Fund		12
American Funds Bond HLS Fund		13
American Funds Global Bond HLS Fund		13
American Funds Global Growth and Income HLS Fund		14
American Funds Global Growth HLS Fund		14
American Funds Global Small Capitalization HLS Fund		15
American Funds Growth HLS Fund		15
American Funds Growth-Income HLS Fund		16
American Funds International HLS Fund		16
American Funds New World HLS Fund		17
Statements of Assets and Liabilities as of December 31, 2008		18
Statements of Operations for the Period April 30, 2008 through December 31, 2008		20
Statements of Changes in Net Assets for the Period April 30, 2008 through December 31, 2008		22
Notes to Financial Statements		24
Financial Highlights		29
Report of Independent Registered Public Accounting Firm		30
Directors and Officers (Unaudited)		31
How to Obtain a Copy of the Funds’ Proxy Voting Policies and Proxy Voting Records (Unaudited)		33
Quarterly Portfolio Holdings Information (Unaudited)		33
Expense Example (Unaudited)		34

This report is prepared for the general information of contract owners and is not an offer of contracts. It should not be used in connection with any offer, except in conjunction with the appropriate prospectus which contains all pertinent information including the applicable sales, administrative and other charges.

American Funds Asset Allocation HLS Fund inception 4/30/2008
(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks high total return consistent with preservation of capital over the long term.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

Barclays Capital U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market.

Citigroup Broad Investment-Grade Bond Index is a market capitalization-weighted index that includes fixed-rate U.S. Treasury, government-sponsored, mortgage, asset-backed and investment-grade corporates with a maturity of one year or longer.

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)



	Since Inception

American Funds Asset Allocation HLS Fund IB		-26.88	%

Barclays Capital U.S. Aggregate Index		3.22	%

Citigroup Broad Investment-Grade Bond Index		4.72	%

S&P 500 Index		- 33.65	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Asset Allocation HLS Fund returned -26.88% for the eight-month period ended December 31, 2008, versus the returns of -33.65% for the S&P 500 Index, 4.72% for the Citigroup Broad Investment-Grade Bond Index and 3.22% for the Barclays Capital U.S. Aggregate Index. The Fund outperformed the -27.25% average return of the Lipper Mixed Asset Target Allocation Growth Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Asset Allocation HLS Fund is directly related to the performance of the American Funds Insurance Series – Asset Allocation Fund Class 1. The financial statements of the American Funds Insurance Series – Asset Allocation Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Asset Allocation HLS Fund’s financial statements.



		1

American Funds Blue Chip Income and Growth HLS Fund inception 4/30/2008
(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks to produce income exceeding the average yield of U.S. stocks generally (as represented by the average yield on the S&P 500 Index) and to provide an opportunity for growth of principal consistent with sound common stock investing.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds Blue Chip Income and Growth HLS Fund IB		-32.64	%

S&P 500 Index		-33.65	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Blue Chip Income and Growth HLS Fund returned -32.64% for the eight-month period ended December 31, 2008, versus the return of -33.65% for the S&P 500 Index. The Fund outperformed the -33.55% average return of the Lipper Large Cap Value Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Blue Chip Income and Growth HLS Fund is directly related to the performance of the American Funds Insurance Series – Blue Chip Income and Growth Fund Class 1. The financial statements of the American Funds Insurance Series - Blue Chip Income and Growth Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Blue Chip Income and Growth HLS Fund’s financial statements.



		2

American Funds Bond HLS Fund inception 4/30/2008
(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks to maximize current income and preservation of capital.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

Barclays Capital U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds Bond HLS Fund IB		-10.21	%

Barclays Capital U.S. Aggregate Index		3.22	%

Citigroup Broad Investment-Grade Bond Index		4.72	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Bond HLS Fund returned -10.21% for the eight-month period ended December 31, 2008, versus the returns of 4.72% for the Citigroup Broad Investment-Grade Bond Index and 3.22% for the Barclays Capital U.S. Aggregate Index. The Fund underperformed the -5.02% average return of the Lipper Corporate Debt Funds BBB-Rated VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Bond HLS Fund is directly related to the performance of the American Funds Insurance Series – Bond Fund Class 1. The financial statements of the American Funds Insurance Series – Bond Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Bond HLS Fund’s financial statements.



		3

American Funds Global Bond HLS Fund inception 4/30/2008
(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks a high level of total return over the long term.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

Barclays Capital Global Aggregate Index represents the global investment-grade fixed-income bond markets.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds Global Bond HLS Fund IB		-1.51	%

Barclays Capital Global Aggregate Index		0.18	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Global Bond HLS Fund returned -1.51% for the eight-month period ended December 31, 2008, versus the return of 0.18% for the Barclays Capital Global Aggregate Index. The Fund outperformed the -3.29% average return of the Lipper Global Income Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Global Bond HLS Fund is directly related to the performance of the American Funds Insurance Series – Global Bond Fund Class 1. The financial statements of the American Funds Insurance Series – Global Bond Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Global Bond HLS Fund’s financial statements.



		4

American Funds Global Growth and Income HLS Fund inception 4/30/2008
(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks growth of capital and current income.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

MSCI All Country World Index is a free float-adjusted market capitalization index that measures equity market performance in the global developed and emerging markets, consisting of 48 developed and emerging market country indexes.

MSCI World Index is a free float-adjusted market capitalization index that is designed to measure global developed-market equity performance. The index consists of 23 developed-market country indices, including the United States.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds Global Growth and Income HLS Fund IB		-39.43	%

MSCI All Country World Index		-39.40	%

MSCI World Index		-37.79	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Global Growth and Income HLS Fund returned -39.43% for the eight-month period ended December 31, 2008, versus the return of -39.40% for the MSCI All Country World Index and -37.79% for the MSCI World Index. The Fund outperformed the -39.98% average return of the Lipper Global Growth Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Global Growth and Income HLS Fund is directly related to the performance of the American Funds Insurance Series – Global Growth and Income Fund Class 1. The financial statements of the American Funds Insurance Series - Global Growth and Income Fund Class I, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Global Growth and Income HLS Fund’s financial statements.



		5

American Funds Global Growth HLS Fund inception 4/30/2008
(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks growth of capital.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds Global Growth HLS Fund IB		-35.95	%

MSCI World Index		-37.79	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Global Growth HLS Fund returned -35.95% for the eight-month period ended December 31, 2008, versus the return of -37.79% for the MSCI World Index. The Fund outperformed the -39.98% average return of the Lipper Global Growth Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Global Growth HLS Fund is directly related to the performance of the American Funds Insurance Series – Global Growth Fund Class 1. The financial statements of the American Funds Insurance Series – Global Growth Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Global Growth HLS Fund’s financial statements.



		6

American Funds Global Small Capitalization HLS Fund inception 4/30/2008

(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks growth of capital.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

S&P/Citigroup Global Index is an index that corresponds to the market capitalization ranges used by the American Funds Global Small Capitalization HLS Fund. The S&P/Citigroup Global Index tracks publicly traded stocks around the world with market capitalizations of less than $3 billion.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds Global Small Capitalization HLS Fund IB		-49.04	%

S&P/Citigroup Global Index		-41.62	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Global Small Capitalization HLS Fund returned -49.04% for the eight-month period ended December 31, 2008, versus the return of -41.62% for the S&P/ Citigroup Global Index. The Fund underperformed the -39.98% average return of the Lipper Global Growth Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Global Small Capitalization HLS Fund is directly related to the performance of the American Funds Insurance Series – Global Small Capitalization Fund Class 1. The financial statements of the American Funds Insurance Series – Global Small Capitalization Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Global Small Capitalization HLS Fund’s financial statements.


		7

American Funds Growth HLS Fund inception 4/30/2008

(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks growth of capital.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Investment Goal: Seeks growth of capital.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds Growth HLS Fund IB		-41.18	%

S&P 500 Index		-33.65	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Growth HLS Fund returned -41.18% for the eight-month period ended December 31, 2008, versus the return of -33.65% for the S&P 500 Index. The Fund underperformed the -38.24% average return of the Lipper Multi-Cap Growth Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Growth HLS Fund is directly related to the performance of the American Funds Insurance Series – Growth Fund Class 1. The financial statements of the American Funds Insurance Series – Growth Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Growth HLS Fund’s financial statements.


		8

American Funds Growth-Income HLS Fund inception 4/30/2008

(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks growth of capital and income over time.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds Growth-Income HLS Fund IB		-34.98	%

S&P 500 Index		-33.65	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds Growth-Income HLS Fund returned -34.98% for the eight-month period ended December 31, 2008, versus the return of -33.65% for the S&P 500 Index. The Fund outperformed the -35.49% average return of the Lipper Multi-Cap Core Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds Growth-Income HLS Fund is directly related to the performance of the American Funds Insurance Series – Growth-Income Fund Class 1. The financial statements of the American Funds Insurance Series – Growth-Income Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds Growth-Income HLS Fund’s financial statements.


		9

American Funds International HLS Fund inception 4/30/2008

(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks growth of capital.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

MSCI All Country World Index ex USA is a broad-based, unmanaged, market capitalization weighted, total return index that measures the performance of both developed and emerging stock markets, excluding the U.S. The index is calculated to exclude companies and share classes which cannot be freely purchased by foreigners.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds International HLS Fund IB		-39.10	%

MSCI All Country World Index ex USA		-43.27	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds International HLS Fund returned -39.10% for the eight-month period ended December 31, 2008, versus the return of -43.27% for the MSCI All Country World Index ex USA. The Fund outperformed the -40.10% average return of the Lipper International Core Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds International HLS Fund is directly related to the performance of the American Funds Insurance Series – International Fund Class 1. The financial statements of the American Funds Insurance Series – International Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds International HLS Fund’s financial statements.


		10

American Funds New World HLS Fund inception 4/30/2008

(advised by HL Investment Advisors, LLC)

Investment Goal: Seeks growth of capital.

Performance Overview 4/30/08 - 12/31/08
Growth of $10,000 investment

MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets, consisting of 25 emerging market country indices.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Cumulative Returns(1) (as of 12/31/08)


	Since Inception

American Funds New World HLS Fund IB		-39.97	%

MSCI All Country World Index		-39.40	%

MSCI Emerging Markets Index		-51.39	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)

Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

How did the Fund perform?

The Class IB Shares of the American Funds New World HLS Fund returned -39.97% for the eight-month period ended December 31, 2008, versus the returns of -39.40% for the MSCI All Country World Index and -51.39% for the MSCI Emerging Markets Index. The Fund outperformed the -51.49% average return of the Lipper Emerging Markets Funds VP-UF peer group, a group of funds with investment strategies similar to those of the Fund.

The performance of the American Funds New World HLS Fund is directly related to the performance of the American Funds Insurance Series – New World Fund Class 1. The financial statements of the American Funds Insurance Series – New World Fund Class 1, including the Schedule of Investments, are provided separately and should be read in conjunction with the American Funds New World HLS Fund’s financial statements.


		11

American Funds Asset Allocation
HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	2,165	American Funds Insurance Series – Asset Allocation Fund Class 1			$	26,321

		Total investment companies (cost $31,845)			$	26,321

		Total investments (cost $31,845) (C)	100.0	%	$	26,321
		Other assets and liabilities	(—	)%		(9	)

		Total net assets	100.0	%	$	26,312


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $31,845 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(5,524	)

Net Unrealized Depreciation	$	(5,524	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

At December 31, 2008, the FAS 157 disclosure of investment valuation hierarchy levels (see note 2e of the Notes to the Financial Statements for a description of the investment valuation hierarchy) were:


Assets:
Investment in securities — Level 1	$	26,321

Total	$	26,321

American Funds Blue Chip Income
and Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	1,977	American Funds Insurance Series –
		Blue Chip Income and Growth Fund Class 1			$	13,188

		Total investment companies (cost $16,106)			$	13,188

		Total investments (cost $16,106) (C)	100.0	%	$	13,188
		Other assets and liabilities	(—	)%		(6	)

		Total net assets	100.0	%	$	13,182


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $16,216 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(3,028	)

Net Unrealized Depreciation	$	(3,028	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.


Assets:
Investment in securities — Level 1	$	13,188

Total	$	13,188

The accompanying notes are an integral part of these financial statements.

American Funds Bond HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	7,147	American Funds Insurance Series – Bond Fund Class 1			$	67,611

		Total investment companies (cost $73,569)			$	67,611

		Total investments (cost $73,569) (C)	100.0	%	$	67,611
		Other assets and liabilities	(—	)%		(14	)

		Total net assets	100.0	%	$	67,597


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $73,816 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(6,205	)

Net Unrealized Depreciation	$	(6,205	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.


Assets:
Investment in securities — Level 1	$	67,611

Total	$	67,611

American Funds Global Bond
HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	2,097	American Funds Insurance Series – Global Bond Fund Class 1			$	22,394

		Total investment companies (cost $22,583)			$	22,394

		Total investments (cost $22,583) (C)	100.0	%	$	22,394
		Other assets and liabilities	(—	)%		(8	)

		Total net assets	100.0	%	$	22,386


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $22,974 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(580	)

Net Unrealized Depreciation	$	(580	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.


Assets:
Investment in securities — Level 1	$	22,394

Total	$	22,394

The accompanying notes are an integral part of these financial statements.

American Funds Global Growth and Income HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	6,598	American Funds Insurance Series – Global Growth and Income Fund Class 1			$	44,076

		Total investment companies (cost $57,371)			$	44,076

		Total investments (cost $57,371) (C)	100.0	%	$	44,076
		Other assets and liabilities	(—	)%		(11	)

		Total net assets	100.0	%	$	44,065


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $57,389 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(13,313	)

Net Unrealized Depreciation	$	(13,313	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.


Assets:
Investment in securities — Level 1	$	44,076

Total	$	44,076

American Funds Global Growth
HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	1,110	American Funds Insurance Series – Global Growth Fund Class 1			$	15,497

		Total investment companies (cost $21,016)			$	15.497

		Total investments (cost $21,016) (C)	100.0	%	$	15,497
		Other assets and liabilities	(—	)%		(7	)

		Total net assets	100.0	%	$	15,490


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $21,052 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(5,555	)

Net Unrealized Depreciation	$	(5,555	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.


Assets:
Investment in securities — Level 1	$	15,497

Total	$	15,497

The accompanying notes are an integral part of these financial statements.

American Funds Global Small
Capitalization HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	1,772	American Funds Insurance Series – Global Small Capitalization Fund Class 1			$	19,815

		Total investment companies (cost $27,879)			$	19,815

		Total investments (cost $27,879) (C)	100.0	%	$	19,815
		Other assets and liabilities	(—	)%		(8	)

		Total net assets	100.0	%	$	19,807


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $27,896 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(8,081	)

Net Unrealized Depreciation	$	(8,081	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

At December 31, 2008, the FAS 157 Disclosure of investment valuation hierarchy levels (see note 2e of the Notes to the Financial Statements for a description of the investment valuation hierarchy) were:


Assets:
Investment in securities — Level 1	$	19,815

Total	$	19,815

American Funds Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	3,668	American Funds Insurance Series – Growth Fund Class 1			$	122,909

		Total investment companies (cost $165,937)			$	122,909

		Total investments (cost $165,937) (C)	100.0	%	$	122,909
		Other assets and liabilities	(—	)%		(21	)

		Total net assets	100.0	%	$	122,888


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $165,996 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(43,087	)

Net Unrealized Depreciation	$	(43,087	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.


Assets:
Investment in securities — Level 1	$	122,909

Total	$	122,909

The accompanying notes are an integral part of these financial statements.

American Funds Growth-Income
HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	3,054	American Funds Insurance Series – Growth-Income Fund Class 1			$	74,054

		Total investment companies (cost $94,316)			$	74,054

		Total investments (cost $94,316) (C)	100.0	%	$	74,054
		Other assets and liabilities	(—	)%		(15	)

		Total net assets	100.0	%	$	74,039


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $94,359 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(20,305	)

Net Unrealized Depreciation	$	(20,305	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.


Assets:
Investment in securities — Level 1	$	74,054

Total	$	74,054

American Funds International
HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)
INVESTMENT COMPANIES — 100.0%
	6,452	American Funds Insurance Series – International Fund Class 1			$	78,840

		Total investment companies (cost $101,293)			$	78,840

		Total investments (cost $101,293) (C)	100.0	%	$	78,840
		Other assets and liabilities	(—	)%		(15	)

		Total net assets	100.0	%	$	78,825


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $101,469 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	—
Unrealized Depreciation		(22,629	)

Net Unrealized Depreciation	$	(22,629	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.


Assets:
Investment in securities — Level 1	$	78,840

Total	$	78,840

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Statements of Assets and Liabilities
December 31, 2008
(000’s Omitted)


				American Funds
				Blue Chip
	American Funds			Income and			American Funds			American Funds
	Asset Allocation			Growth			Bond			Global Bond
	HLS Fund			HLS Fund			HLS Fund			HLS Fund
Assets:
Investments in securities, at value @	$	26,321		$	13,188		$	67,611		$	22,394
Receivables:
Investment securities sold		—			2			—			—
Fund shares sold		41			7			157			27
Other assets		2			1			4			2

Total assets		26,364			13,198			67,772			22,423


Liabilities:
Payables:
Investment securities purchased		41			—			149			26
Fund shares redeemed		—			8			8			1
Investment management and advisory fees (Note 4)		4			2			7			3
Distribution fees (Note 4)		1			1			4			1
Accrued expenses		6			5			7			6

Total liabilities		52			16			175			37

Net assets	$	26,312		$	13,182		$	67,597		$	22,386


Summary of Net Assets:
Capital stock and paid-in-capital	$	30,956		$	15,772		$	70,491		$	22,000
Undistributed net investment income		708			304			3,303			966
Accumulated net realized gain (loss) on investments		172			24			(239	)		(391	)
Unrealized depreciation of investments		(5,524	)		(2,918	)		(5,958	)		(189	)

Net assets	$	26,312		$	13,182		$	67,597		$	22,386

Shares authorized		200,000			200,000			200,000			200,000

Par value	$	0.001		$	0.001		$	0.001		$	0.001

Class IB: Net asset value per share	$	7.31		$	6.74		$	8.98		$	9.85

Shares outstanding		3,599			1,957			7,528			2,273

Net assets	$	26,312		$	13,182		$	67,597		$	22,386

@ Cost of securities	$	31,845		$	16,106		$	73,569		$	22,583

Hartford Series Fund, Inc.

Statements of Assets and Liabilities — (continued)
December 31, 2008
(000’s Omitted)


American Funds						American Funds
Global Growth			American Funds			Global Small			American Funds			American Funds			American Funds			American Funds
and Income			Global Growth			Capitalization			Growth			Growth-Income			International			New World
HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund

$	44,076		$	15,497		$	19,815		$	122,909		$	74,054		$	78,840		$	23,941

	—			—			—			—			—			—			—
	122			47			46			358			225			103			52
	5			3			2			13			7			10			5

	44,203			15,547			19,863			123,280			74,286			78,953			23,998




	121			47			43			358			219			99			52
	1			—			3			1			6			4			1
	8			3			3			19			11			14			5
	2			1			1			6			4			4			1
	6			6			6			8			7			7			6

	138			57			56			392			247			128			65

$	44,065		$	15,490		$	19,807		$	122,888		$	74,039		$	78,825		$	23,933



$	56,071		$	20,288		$	27,506		$	163,223		$	93,143		$	97,702		$	31,333
	1,283			408			27			244			352			2,217			495
	6			313			338			2,449			806			1,359			282
	(13,295	)		(5,519	)		(8,064	)		(43,028	)		(20,262	)		(22,453	)		(8,177	)

$	44,065		$	15,490		$	19,807		$	122,888		$	74,039		$	78,825		$	23,933

	200,000			200,000			200,000			200,000			200,000			200,000			200,000

$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001		$	0.001

$	6.06		$	6.40		$	5.10		$	5.81		$	6.39		$	6.09		$	6.00

	7,275			2,419			3,887			21,169			11,589			12,943			3,987

$	44,065		$	15,490		$	19,807		$	122,888		$	74,039		$	78,825		$	23,933

$	57,371		$	21,016		$	27,879		$	165,937		$	94,316		$	101,293		$	32,118

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Statements of Operations
For the Period April 30, 2008* through December 31, 2008
(000’s Omitted)


				American Funds
				Blue Chip
	American Funds			Income and			American Funds			American Funds
	Asset Allocation			Growth			Bond			Global Bond
	HLS Fund			HLS Fund			HLS Fund			HLS Fund
Investment Income:
Dividends from underlying funds	$	753		$	309		$	3,394		$	1,007

Total investment income		753			309			3,394			1,007


Expenses:
Investment management and advisory fees		57			31			100			55
Distribution fees — Class IB		22			10			50			18
Custodian fees		—			1			1			1
Accounting services		1			—			2			1
Board of Directors’ fees		—			—			—			—
Audit fees		5			5			5			5
Other expenses		2			2			3			—

Total expenses (before waivers and fees paid indirectly)		87			49			161			80
Expense waivers		(35	)		(21	)		(50	)		(37	)

Total waivers and fees paid indirectly		(35	)		(21	)		(50	)		(37	)

Total expenses, net		52			28			111			43

Net investment income (loss)		701			281			3,283			964

Net Realized Gain (Loss) on Investments:
Capital gain distribution received from underlying funds		177			156			23			1
Net realized loss on investments in underlying funds		—			(110	)		(247	)		(391	)

Net Realized Gain (Loss) on Investments		177			46			(224	)		(390	)

Net Changes in Unrealized Depreciation of Investments:
Net unrealized depreciation of investments		(5,524	)		(2,918	)		(5,958	)		(189	)

Net Loss on Investments		(5,347	)		(2,872	)		(6,182	)		(579	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(4,646	)	$	(2,591	)	$	(2,899	)	$	385


*		Commencement of operations.

Hartford Series Fund, Inc.

Statements of Changes in Net Assets
For the Period April 30, 2008* through December 31, 2008
(000’s Omitted)


				American Funds
				Blue Chip
	American Funds			Income and			American Funds			American Funds
	Asset Allocation			Growth			Bond			Global Bond
	HLS Fund			HLS Fund			HLS Fund			HLS Fund
Operations:
Net investment income (loss)	$	701		$	281		$	3,283		$	964
Net realized gain (loss) on investments		177			46			(224	)		(390	)
Net unrealized appreciation (depreciation) of investments		(5,524	)		(2,918	)		(5,958	)		(189	)

Net increase (decrease) in net assets resulting from operations		(4,646	)		(2,591	)		(2,899	)		385


Distributions to Shareholders:
From net investment income
Class IB		—			—			—			—
From net realized gain on investments
Class IB		—			—			—			—

Total distributions		—			—			—			—


Capital Share Transactions:
Class IB
Sold		31,673			16,814			73,861			28,926
Issued on reinvestment of distributions		—			—			—			—
Redeemed		(715	)		(1,041	)		(3,365	)		(6,925	)

Net increase (decrease) from capital share transactions		30,958			15,773			70,496			22,001

Net increase (decrease) in net assets		26,312			13,182			67,597			22,386

Net Assets:
Beginning of period		—			—			—			—

End of period	$	26,312		$	13,182		$	67,597		$	22,386

Undistributed net investment income	$	708		$	304		$	3,303		$	966


Shares:
Class IB
Sold		3,688			2,093			7,903			3,019
Issued on reinvestment of distributions		—			—			—			—
Redeemed		(89	)		(136	)		(375	)		(746	)

Total share activity		3,599			1,957			7,528			2,273


*		Commencement of operations.

Hartford Series Fund, Inc.

Statements of Changes in Net Assets — (continued)
For the Period April 30, 2008* through December 31, 2008
(000’s Omitted)


American Funds						American Funds
Global Growth			American Funds			Global Small			American Funds			American Funds			American Funds			American Funds
and Income			Global Growth			Capitalization			Growth			Growth-Income			International			New World
HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund			HLS Fund

$	1,240		$	354		$	(40	)	$	1,414		$	1,443		$	2,021		$	433
	44			365			403			2,765			908			1,549			342
	(13,295	)		(5,519	)		(8,064	)		(43,028	)		(20,262	)		(22,453	)		(8,177	)

	(12,011	)		(4,800	)		(7,701	)		(38,849	)		(17,911	)		(18,883	)		(7,402	)




	—			—			—			(1,500	)		(1,200	)		—			—

	—			—			—			—			—			—			—

	—			—			—			(1,500	)		(1,200	)		—			—




	57,272			21,020			28,122			165,053			94,419			99,249			32,681
	—			—			—			1,500			1,200			—			—
	(1,196	)		(730	)		(614	)		(3,316	)		(2,469	)		(1,541	)		(1,346	)

	56,076			20,290			27,508			163,237			93,150			97,708			31,335

	44,065			15,490			19,807			122,888			74,039			78,825			23,933


	—			—			—			—			—			—			—

$	44,065		$	15,490		$	19,807		$	122,888		$	74,039		$	78,825		$	23,933


$	1,283		$	408		$	27		$	244		$	352		$	2,217		$	495




	7,443			2,519			3,981			21,340			11,719			13,170			4,165
	—			—			—			257			188			—			—
	(168	)		(100	)		(94	)		(428	)		(318	)		(227	)		(178	)

	7,275			2,419			3,887			21,169			11,589			12,943			3,987

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Notes to Financial Statements
December 31, 2008
(000’s Omitted)


1.	Organization:

Hartford Series Fund, Inc. (the “Company”) is an open-end management investment company comprised of thirty-four portfolios; eleven of which are included in these financial statements (each a “Fund” or together the “Funds”). The Funds are American Funds Asset Allocation HLS Fund, American Funds Blue Chip Income and Growth HLS Fund, American Funds Bond HLS Fund, American Funds Global Bond HLS Fund, American Funds Global Growth and Income HLS Fund, American Funds Global Growth HLS Fund, American Funds Global Small Capitalization HLS Fund, American Funds Growth HLS Fund, American Funds Growth-Income HLS Fund, American Funds International HLS Fund and American Funds New World HLS Fund. The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”), as a diversified open-end management investment company, except for American Funds Global Bond HLS Fund, which is non-diversified.

The Funds operate in the manner of Fund of Funds, investing in shares of an underlying mutual fund (the “Underlying Fund”). Each Underlying Fund is offered by American Funds Insurance Series, and is a registered open-end investment company. The Funds and their related Underlying Funds are listed below:


Fund		Underlying Fund

American Funds Asset Allocation HLS Fund		Asset Allocation Fund-Class 1
American Funds Blue Chip Income and Growth HLS Fund		Blue Chip Income and Growth Fund-Class 1
American Funds Bond HLS Fund		Bond Fund-Class 1
American Funds Global Bond HLS Fund		Global Bond Fund-Class 1
American Funds Global Growth and Income HLS Fund		Global Growth and Income Fund-Class 1
American Funds Global Growth HLS Fund		Global Growth Fund-Class 1
American Funds Global Small Capitalization HLS Fund		Global Small Capitalization Fund-Class 1
American Funds Growth HLS Fund		Growth Fund-Class 1
American Funds Growth-Income HLS Fund		Growth-Income Fund-Class 1
American Funds International HLS Fund		International Fund-Class 1
American Funds New World HLS Fund		New World Fund-Class 1

The Underlying Funds’ accounting policies are outlined in the Underlying Funds’ annual reports, which accompany this report.

Class IB shares are offered at per share net asset value (“NAV”) without a sales charge and are subject to distribution fees charged pursuant to Distribution and Service Plans. These Distribution and Service Plans have been adopted in accordance with Rule 12b-1 under the 1940 Act.


2.	Significant Accounting Policies:

The following is a summary of significant accounting policies of the Funds, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).


	a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

Income and capital gain distributions from the Underlying Funds are recorded on the ex-dividend date.


	b)	Security Valuation — Investments in the Underlying Funds are valued at the respective NAV of each Underlying Fund on the valuation date. Valuation of securities held by the Underlying Funds is discussed in Note 2(b) of the Underlying Funds’ Notes to Financial Statements, which are included in the Underlying Funds’ annual report, accompanying this report.

	c)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Funds’ shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of each Fund’s shares is determined as of the close of each business day of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time). The NAV is determined for the class of each Fund by dividing the Fund’s net assets by the number of shares of the class outstanding. Orders for the purchase of a Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

Dividends are declared pursuant to a policy adopted by the Funds’ Board of Directors based upon the investment performance of the Funds. The policy of all Funds is to pay dividends from net investment income and distribute realized capital gains, if any, at least once a year.

Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Funds’ capital accounts (see Note 3(d)).

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


	d)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

	e)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Upon commencement of operations, the Funds adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.


	•	Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, certain foreign equities, options, futures, mutual funds, exchange traded funds (ETF’s), repurchase agreements and rights and warrants.

	•	Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and which are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

	•	Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and requires significant management judgment or estimation. This category includes broker-quoted securities, long dated over-the-counter (“OTC”) options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than that presented above as individual circumstances dictate.

FAS 157 also requires that a rollforward reconciliation be shown for all Level 3 securities from the beginning of the reporting period to the end of the reporting period. Part of this reconciliation includes transfers in and/or out of Level 3. For purposes of this reconciliation, transfers in are shown at the end of period fair value and transfers out are shown at the beginning of period fair value.

Refer to the valuation hierarchy levels summaries found following the Schedules of Investments.


	f)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

	g)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Company, on behalf of the Funds, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.


3.	Federal Income Taxes:


	a)	Federal Income Taxes — For federal income tax purposes, the Funds intend to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of their taxable net investment income and net realized capital gains to their shareholders and otherwise complying with the requirements of regulated investment companies. Each Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distribution for federal income tax purposes.


	b)	Net investment income (loss) and net realized gains (losses) may differ for financial statement and tax purposes primarily because of wash sale transactions, differing tax treatment for investments in RICs. The character of distributions made during the year from net investment income or realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividend distributions, the fiscal year in which amounts are distributed may differ from the year that the income or realized gains (losses) were recorded by the Funds.

	c)	The tax character of distributions paid for the period indicated is as follows (as adjusted for dividends payable):


	For the Period
	April 30, 2008
	(Commencement of Operations)
	through
	December 31, 2008
			Long-
			Term
	Ordinary		Capital
	Income		Gains

American Funds Asset Allocation HLS Fund	$	—	$	—
American Funds Blue Chip Income and Growth HLS Fund		—		—
American Funds Bond HLS Fund		—		—
American Funds Global Bond HLS Fund		—		—
American Funds Global Growth and Income HLS Fund		—		—
American Funds Global Growth HLS Fund		—		—
American Funds Global Small Capitalization HLS Fund		—		—
American Funds Growth HLS Fund		1,500		—
American Funds Growth-Income HLS Fund		1,200		—
American Funds International HLS Fund		—		—
American Funds New World HLS Fund		—		—

As of December 31, 2008, the components of distributable earnings (deficit) on a tax basis were as follows:


										Total
	Undistributed		Undistributed		Accumulated		Unrealized			Accumulated
	Ordinary		Long-Term		Capital		Appreciation			Earnings
	Income		Capital Gain		and Other		(Depreciation)^@			(Deficit)

American Funds Asset Allocation HLS Fund	$	708	$	172	$	—	$	(5,524	)	$	(4,644	)
American Funds Blue Chip Income and Growth HLS Fund		304		134		—		(3,028	)		(2,590	)
American Funds Bond HLS Fund		3,303		8		—		(6,205	)		(2,894	)
American Funds Global Bond HLS Fund		966		—		—		(580	)		386
American Funds Global Growth and Income HLS Fund		1,283		23		—		(13,312	)		(12,006	)
American Funds Global Growth HLS Fund		408		349		—		(5,555	)		(4,798	)
American Funds Global Small Capitalization HLS Fund		27		355		—		(8,081	)		(7,699	)
American Funds Growth HLS Fund		244		2,508		—		(43,087	)		(40,335	)
American Funds Growth-Income HLS Fund		352		849		—		(20,305	)		(19,104	)
American Funds International HLS Fund		2,217		1,535		—		(22,629	)		(18,877	)
American Funds New World HLS Fund		495		336		—		(8,231	)		(7,400	)


	^@	The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of wash sales losses.


	d)	Reclassification of Capital Accounts:

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

depending on the type of book and tax differences that exist. For the period April 30, 2008 through December 31, 2008, the Funds recorded the following reclassifications to increase (decrease) the accounts listed below.


	Undistributed		Accumulated
	Net Investment		Net Realized			Paid-in-
	Income		Gain (Loss)			Capital

American Funds Asset Allocation HLS Fund	$	7	$	(5	)	$	(2	)
American Funds Blue Chip Income and Growth HLS Fund		23		(22	)		(1	)
American Funds Bond HLS Fund		20		(15	)		(5	)
American Funds Global Bond HLS Fund		2		(1	)		(1	)
American Funds Global Growth and Income HLS Fund		43		(38	)		(5	)
American Funds Global Growth HLS Fund		54		(52	)		(2	)
American Funds Global Small Capitalization HLS Fund		67		(65	)		(2	)
American Funds Growth HLS Fund		330		(316	)		(14	)
American Funds Growth-Income HLS Fund		109		(102	)		(7	)
American Funds International HLS Fund		196		(190	)		(6	)
American Funds New World HLS Fund		62		(60	)		(2	)


	e)	Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. Management has evaluated the implications of FIN 48 for open tax year ended December 31, 2008 and has determined there is no impact to the Funds’ financial statements.


4.	Expenses:


	a)	Investment Management and Advisory Agreements — HL Investment Advisors, LLC (HL Advisors), an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Funds pursuant to an Investment Management Agreement with the Company. As investment manager, HL Advisors has overall investment supervisory responsibility for each Fund. In addition, HL Advisors provides administrative personnel, services, equipment and facilities and office space for proper operation of the Funds.

The schedule below reflects the rates of compensation as a percentage of each Fund’s average daily net assets paid to HL Advisors for investment advisory services for the period ended December 31, 2008; the rates are accrued daily and paid monthly.


Fund	Annual Rate*

American Funds Asset Allocation HLS Fund		0.65	%
American Funds Blue Chip Income and Growth HLS Fund		0.75	%
American Funds Bond HLS Fund		0.50	%
American Funds Global Bond HLS Fund		0.75	%
American Funds Global Growth HLS Fund		1.00	%
American Funds Global Growth and Income HLS Fund		0.80	%
American Funds Global Small Capitalization HLS Fund		0.80	%
American Funds Growth HLS Fund		0.75	%
American Funds Growth-Income HLS Fund		0.70	%
American Funds International HLS Fund		0.85	%
American Funds New World HLS Fund		1.10	%


	*	HL Advisors has entered into an agreement under which it will waive a portion of its investment management and advisory fee with respect to each Fund for as long as that Fund is invested in its corresponding Underlying Fund. The net investment management and advisory fee under the agreement with HL Advisors, after giving effect to the waiver, is 0.25% of the average daily net assets for each Fund.


	b)	Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and the Funds, HLIC provides accounting services to the Funds and receives monthly compensation at the annual rate of 0.01% of each Fund’s average daily net assets. These fees are accrued daily and paid monthly.

	c)	Other Related Party Transactions — Certain officers of the Funds are directors and/or officers of HL Advisors, Hartford Investment Management and/or The Hartford or its subsidiaries. For the eight-month period ended December 31, 2008, a portion of the Funds’ chief compliance officer’s salary was paid by the Funds in an amount, which rounds to zero for each Fund. These fees are accrued daily and paid monthly.

	d)	Operating Expenses — Allocable expenses of the Funds are charged to each Fund based on the ratio of the average net assets of each Fund to the combined average net assets of the Hartford HLS Funds. Non-allocable expenses are charged to each Fund based on specific identification.

	e)	Distribution Plan for Class IB shares — The Funds have adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, each Fund is authorized to compensate the Distributor, Hartford Securities Distribution Company, Inc. (a wholly owned, ultimate subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Class IB shares, subject to the Fund Board’s review and approval.


5.	Affiliate Holdings:

As of December 31, 2008, affiliates of The Hartford had ownership of shares in the Funds as follows:


	Class IB

American Funds Asset Allocation HLS Fund		10
American Funds Blue Chip Income and Growth HLS Fund		10
American Funds Bond HLS Fund		10
American Funds Global Bond HLS Fund		10
American Funds Global Growth and Income HLS Fund		10
American Funds Global Growth HLS Fund		10
American Funds Global Small Capitalization HLS Fund		10
American Funds Growth HLS Fund		10
American Funds Growth-Income HLS Fund		10
American Funds International HLS Fund		10
American Funds New World HLS Fund		10


6.	Investment Transactions:

For the period ended December 31, 2008, aggregate purchases and sales of investment securities (excluding short-term investments) were as follows:


	Cost of Purchases		Sales Proceeds
	Excluding U.S.		Excluding U.S.
	Government		Government
	Obligations		Obligations

American Funds Asset Allocation HLS Fund	$	31,845	$	—
American Funds Blue Chip Income and Growth HLS Fund		16,455		239
American Funds Bond HLS Fund		75,632		1,816
American Funds Global Bond HLS Fund		28,288		5,314
American Funds Global Growth and Income HLS Fund		57,445		56
American Funds Global Growth HLS Fund		21,099		47
American Funds Global Small Capitalization HLS Fund		27,931		35
American Funds Growth HLS Fund		166,198		201
American Funds Growth-Income HLS Fund		94,565		206
American Funds International HLS Fund		101,646		177
American Funds New World HLS Fund		32,378		206

Hartford Series Fund, Inc.

Financial Highlights


	*— Selected Per-Share Data (#) —*																*— Ratios and Supplemental Data —*
						Net
						Realized														Net										Ratio of			Ratio of			Ratio of
						and									Distributions					Increase										Expenses			Expenses			Net
	Net Asset		Net			Unrealized			Total			Dividends			from					(Decrease)			Net Asset							to Average			to Average			Investment
	Value at		Investment			Gain			from			from Net			Realized					in Net			Value at					Net Assets		Net Assets			Net Assets			Income			Portfolio
	Beginning		Income			(Loss) on			Investment			Investment			Capital		Total			Asset			End of		Total			at End		Before			After			to Average			Turnover
Class	of Period		(Loss)			Investments			Operations			Income			Gains		Distributions			Value			Period		Return(a)			of Period		Waivers			Waivers			Net Assets			Rate
American Funds Asset Allocation HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB	$	10.00	$	0.19		$	(2.88	)	$	(2.69	)	$	—		$	—	$	—		$	(2.69	)	$	7.31		(26.88	)%(b)	$	26,312		0.99	%(c)		0.59	%(c)		8.02	%(c)		—	%
American Funds Blue Chip Income and Growth HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.14			(3.40	)		(3.26	)		—			—		—			(3.26	)		6.74		(32.64	)(b)		13,182		1.17	(c)		0.67	(c)		6.79	(c)		3
American Funds Bond HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.44			(1.46	)		(1.02	)		—			—		—			(1.02	)		8.98		(10.21	)(b)		67,597		0.80	(c)		0.55	(c)		16.32	(c)		5
American Funds Global Bond HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.42			(0.57	)		(0.15	)		—			—		—			(0.15	)		9.85		(1.51	)(b)		22,386		1.10	(c)		0.60	(c)		13.11	(c)		42
American Funds Global Growth and Income HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.17			(4.11	)		(3.94	)		—			—		—			(3.94	)		6.06		(39.43	)(b)		44,065		1.11	(c)		0.56	(c)		8.24	(c)		—
American Funds Global Growth HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.15			(3.75	)		(3.60	)		—			—		—			(3.60	)		6.40		(35.95	)(b)		15,490		1.37	(c)		0.62	(c)		5.68	(c)		—
American Funds Global Small Capitalization HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		(0.01	)		(4.89	)		(4.90	)		—			—		—			(4.90	)		5.10		(49.04	)(b)		19,807		1.16	(c)		0.61	(c)		(0.62	)(c)		—
American Funds Growth HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.07			(4.18	)		(4.11	)		(0.08	)		—		(0.08	)		(4.19	)		5.81		(41.18	)(b)		122,888		1.03	(c)		0.53	(c)		3.39	(c)		—
American Funds Growth-Income HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.13			(3.63	)		(3.50	)		(0.11	)		—		(0.11	)		(3.61	)		6.39		(34.98	)(b)		74,039		0.99	(c)		0.54	(c)		5.87	(c)		—
American Funds International HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.16			(4.07	)		(3.91	)		—			—		—			(3.91	)		6.09		(39.10	)(b)		78,825		1.14	(c)		0.54	(c)		8.05	(c)		—
American Funds New World HLS Fund (d)
From (commencement of operations) April 30, 2008 through December 31, 2008
Class IB		10.00		0.11			(4.11	)		(4.00	)		—			—		—			(4.00	)		6.00		(39.97	)(b)		23,933		1.44	(c)		0.59	(c)		5.06	(c)		1


#		Information presented relates to a share outstanding throughout the indicated period.
(a)		The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.
(b)		Not annualized.
(c)		Annualized.
(d)		Expense ratios do not include expenses of the underlying funds.

The accompanying notes are an integral part of these financial statements.

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
The Hartford Series Fund, Inc.

We have audited the accompanying statements of assets and liabilities, including the schedule of investments, of American Funds Asset Allocation HLS Fund, American Funds Blue Chip Income and Growth HLS Fund, American Funds Bond HLS Fund, American Funds Global Bond HLS Fund, American Funds Global Growth HLS Fund, American Funds Global Growth and Income HLS Fund, American Funds Global Small Capitalization HLS Fund, American Funds Growth HLS Fund, American Funds Growth-Income HLS Fund, American Funds International HLS Fund, American Funds New World HLS Fund (eleven of the thirty-four portfolios constituting Hartford Series Fund, Inc.) as of December 31, 2008, and the related statement of operations, statement of changes in net assets, and the financial highlights for the period from April 30, 2008 (commencement of operations) to December 31, 2008. These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds’ internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of December 31, 2008, by correspondence with the custodian. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the Funds listed above constituting portfolios within Hartford Series Fund, Inc. at December 31, 2008, the results of their operations, the changes in their net assets, and the financial highlights for the period from April 30, 2008 (commencement of operations) to December 31, 2008, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 24, 2009

Hartford Series Fund, Inc.

Directors and Officers (Unaudited)

The table below sets forth, for each director and officer, his or her name, age, current position with the Funds and date first elected or appointed to Hartford Series Fund, Inc. (“SF”), principal occupation, and, for directors, other directorships held. The Funds’ statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Non-Interested Directors

Lynn S. Birdsong (age 62) Director since 2003, Co-Chairman of the Investment Committee

Robert M. Gavin, Jr. (age 68) Director since 2002 (SF), Chairman of the Board since 2004

Duane E. Hill (age 63) Director since 2001 (SF), Chairman of the Nominating Committee

Sandra S. Jaffee (age 67) Director since 2005

William P. Johnston (age 64) Director since 2005, Chairman of the Compliance Committee

Phillip O. Peterson (age 64) Director since 2002 (SF), Chairman of the Audit Committee

Lemma W. Senbet (age 62) Director since 2005

Interested Directors and Officers

Thomas M. Marra (age 50) Director since 2002

Lowndes A. Smith (age 69) Director since 1996, Co-Chairman of the Investment Committee

John C. Walters (age 47) Director since 2008, President and Chief Executive Officer since 2007

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of HL, Inc. (2006-2007), as Co-Chief Operating Officer of Hartford Life Insurance Company (“Hartford Life”) (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2005). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life and as Executive Vice President of The Hartford. In addition, Mr. Walters serves as Manager of HL Investment Advisors, LLC (“HL Advisors”).

Other Officers

Robert M. Arena, Jr. (age 40) Vice President since 2006

Mr. Arena serves as Executive Vice President of Hartford Life. Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company (“HASCO”), Chief Executive Officer, Manager and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and Chief Executive Officer, Manager and President of HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 50) Vice President, Treasurer, and Controller since 1993

Brian Ferrell (age 46) AML Compliance Officer since 2008

Thomas D. Jones, III (age 43) Vice President and Chief Compliance Officer since 2006

Edward P. Macdonald (age 41) Vice President, Secretary and Chief Legal Officer since 2005

Vernon J. Meyer (age 44) Vice President since 2006

Denise A. Settimi (age 48) Vice President since 2005

Hartford Series Fund, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and contingent deferred sales charges (CDSC) (2) ongoing costs including management fees; distribution fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to 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 the beginning of the period and held for the period of June 30, 2008 through December 31, 2008

Actual Expenses

Hypothetical Example for Comparison Purposes

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/366 (to reflect the one-half year period).


					Expenses paid						Expenses paid
					during the period						during the period					Days
	Beginning		Ending		June 30, 2008		Beginning		Ending		June 30, 2008		Annualized			in the		Days
	Account Value		Account Value		through		Account Value		Account Value		through		expense			current		in the
	June 30, 2008		December 31, 2008		December 31, 2008		June 30, 2008		December 31, 2008		December 31, 2008		ratio			1/2 year		full year
American Funds Asset Allocation HLS Fund
Class IB	$	1,000.00	$	751.72	$	2.64	$	1,000.00	$	1,022.12	$	3.04		0.60	%		184		366
American Funds Blue Chip Income and Growth HLS Fund
Class IB	$	1,000.00	$	747.68	$	2.98	$	1,000.00	$	1,021.71	$	3.45		0.68	%		184		366
American Funds Bond HLS Fund
Class IB	$	1,000.00	$	909.47	$	2.63	$	1,000.00	$	1,022.37	$	2.79		0.55	%		184		366
American Funds Global Bond HLS Fund
Class IB	$	1,000.00	$	996.25	$	3.06	$	1,000.00	$	1,022.06	$	3.10		0.61	%		184		366
American Funds Global Growth and Income HLS Fund
Class IB	$	1,000.00	$	648.75	$	2.36	$	1,000.00	$	1,022.27	$	2.89		0.57	%		184		366
American Funds Global Growth HLS Fund
Class IB	$	1,000.00	$	681.41	$	2.66	$	1,000.00	$	1,021.96	$	3.20		0.63	%		184		366
American Funds Global Small Capitalization HLS Fund
Class IB	$	1,000.00	$	529.73	$	2.38	$	1,000.00	$	1,022.01	$	3.15		0.62	%		184		366
American Funds Growth HLS Fund
Class IB	$	1,000.00	$	606.24	$	2.18	$	1,000.00	$	1,022.42	$	2.74		0.54	%		184		366
American Funds Growth-Income HLS Fund
Class IB	$	1,000.00	$	698.24	$	2.34	$	1,000.00	$	1,022.37	$	2.79		0.55	%		184		366
American Funds International HLS Fund
Class IB	$	1,000.00	$	654.84	$	2.28	$	1,000.00	$	1,022.37	$	2.79		0.55	%		184		366

American Funds New World HLS Fund
Class IB	$	1,000.00	$	630.34	$	2.45	$	1,000.00	$	1,022.12	$	3.04		0.60	%		184		366

Hartford Global Growth HLS Fund inception 9/30/1998
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

(LINE GRAPH)

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Investment goal — Seeks growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Global Growth IA		-52.46	%		-3.66	%		0.54	%

Global Growth IB		-52.58	%		-3.90	%		0.32	%

MSCI World Growth Index		-40.90	%		-0.84	%		-2.29	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.




(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.


Portfolio Managers

Matthew D. Hudson, CFA	Andrew S. Offit, CPA	Jean-Marc Berteaux
Vice President	Senior Vice President, Partner	Senior Vice President, Partner

How did the Fund perform?

Why did the Fund perform this way?



		1

What is the outlook?

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		4.8	%

Capital Goods		10.2

Consumer Services		1.6

Diversified Financials		4.6

Energy		8.7

Food, Beverage & Tobacco		6.2

Health Care Equipment & Services		2.8

Household & Personal Products		2.7

Insurance		2.1

Materials		6.5

Media		1.5

Pharmaceuticals, Biotechnology & Life Sciences		17.2

Retailing		0.7

Semiconductors & Semiconductor Equipment		0.7

Software & Services		10.0

Technology Hardware & Equipment		6.1

Telecommunication Services		9.9

Transportation		0.9

Short-Term Investments		2.2

Other Assets and Liabilities		0.6

Total		100.0	%

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets

Australia		2.1	%

Brazil		0.8

Canada		3.5

China		0.8

Denmark		2.3

France		5.0

Germany		3.7

Greece		0.6

Israel		2.2

Japan		4.7

Luxembourg		1.2

Norway		1.2

Russia		0.5

Spain		2.3

Switzerland		6.3

United Kingdom		6.2

United States		53.8

Short-Term Investments		2.2

Other Assets and Liabilities		0.6

Total		100.0	%



		2

Hartford Global Growth HLS Fund inception 3/24/1987
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 — 12/31/08
Growth of $10,000 investment

Russell 1000 Growth Index is an unmanaged index which measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Investment goal — Seeks capital appreciation.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Growth Opportunities IA		-45.66	%		1.47	%		3.37	%

Growth Opportunities IB		-45.80	%		1.22	%		3.12	%

Russell 1000 Growth Index		-38.44	%		-3.42	%		-4.27	%

Russell 3000 Growth Index		-38.44	%		-3.33	%		-4.01	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.


(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.



Portfolio Managers

Michael T. Carmen, CFA, CPA		Mario E. Abularach, CFA
Senior Vice President, Partner		Vice President

How did the Fund perform?
The Class IA shares of the Hartford Growth Opportunities HLS Fund returned -45.66% for the one year period ended December 31, 2008, underperforming its benchmark, the Russell 3000 Growth Index, which returned -38.44% for the same period. The Fund also underperformed the -42.50% return of the average fund in the Lipper Multi-Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in recent history. After a positive start to the year, the global equity markets stumbled on credit crunch related issues such as the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a potential U.S. recession, equity investors sought to shed risk, punishing equity securities broadly.



		3

in this environment were Consumer Staples (-16%) and Health Care (-26%).

What is the outlook?

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets

Banks		1.8	%

Capital Goods		15.2

Commercial & Professional Services		3.5

Consumer Durables & Apparel		1.9

Consumer Services		0.6

Diversified Financials		4.7

Energy		5.8

Food, Beverage & Tobacco		1.0

Health Care Equipment & Services		6.9

Household & Personal Products		2.1

Insurance		5.9

Materials		3.7

Media		1.5

Other Investment Pools and Funds		1.2

Pharmaceuticals, Biotechnology & Life Sciences		14.1

Real Estate		0.7

Retailing		5.1

Software & Services		12.9

Technology Hardware & Equipment		4.7

Telecommunication Services		2.0

Transportation		1.6

Short-Term Investments		3.7

Other Assets and Liabilities		(0.6	)

Total		100.0	%



		4

Hartford Global Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 97.2%
		Banks — 4.8%
	382	Banco Itau Holding Financeira S.A. ADR	$	4,428
	161	National Bank of Greece		3,013
	117	Societe Generale Class A		5,983
	353	Standard Chartered plc		4,586
	260	Wells Fargo & Co.		7,673

				25,683

		Capital Goods — 10.2%
	100	Alstom RGPT		5,989
	100	Danaher Corp.		5,678
	70	Deere & Co.		2,686
	99	General Dynamics Corp.		5,690
	83	Illinois Tool Works, Inc.		2,913
	109	Lockheed Martin Corp.		9,198
	80	Siemens AG		6,085
	211	Sunpower Corp. (D)		7,822
	135	Vestas Wind Systems A/S (D)		7,962

				54,023

		Consumer Services — 1.6%
	696	Las Vegas Sands Corp. (D)		4,125
	332	Royal Caribbean Cruises Ltd.		4,570

				8,695

		Diversified Financials — 4.6%
	97	Goldman Sachs Group, Inc.		8,211
	259	JP Morgan Chase & Co.		8,179
	210	Julius Baer Holding Ltd.		8,137

				24,527

		Energy — 8.7%
	140	Canadian Natural Resources Ltd.		5,617
	155	Hess Corp.		8,304
	154	Schlumberger Ltd.		6,502
	779	Seadrill Ltd.		6,391
	102	Total S.A.		5,620
	179	Ultra Petroleum Corp. (D)		6,170
	213	XTO Energy, Inc.		7,499

				46,103

		Food, Beverage & Tobacco — 6.2%
	252	British American Tobacco plc		6,681
	133	Carlsberg A/S Class B		4,375
	152	Groupe Danone		9,221
	319	Nestle S.A.		12,610

				32,887

		Health Care Equipment & Services — 2.8%
	154	Fresenius Medical Care AG & Co.		7,194
	239	St. Jude Medical, Inc. (D)		7,881

				15,075

		Household & Personal Products — 2.7%
	106	Clorox Co.		5,867
	215	Reckitt Benckiser Group plc		8,195

				14,062

		Insurance — 2.1%
	44	Muenchener Rueckversicherungs-Gesellschaft AG		6,758
	900	Ping An Insurance (Group) Co.		4,420

				11,178

		Materials — 6.5%
	675	BHP Billiton plc		13,279
	136	Monsanto Co.		9,543
	88	Potash Corp. of Saskatchewan, Inc.		6,458
	85	Praxair, Inc.		5,052

				34,332

		Media — 1.5%
	476	Comcast Corp. Class A		8,038
		Pharmaceuticals, Biotechnology & Life Sciences — 17.2%
	145	Abbott Laboratories		7,749
	243	Allergan, Inc.		9,794
	153	Amgen, Inc. (D)		8,819
	95	Celgene Corp. (D)		5,257
	456	CSL Ltd.		10,964
	289	Daiichi Sankyo Co., Ltd.		6,822
	150	Gilead Sciences, Inc. (D)		7,671
	81	Roche Holding AG		12,528
	271	Teva Pharmaceutical Industries Ltd. ADR		11,537
	279	Wyeth		10,465

				91,606

		Retailing — 0.7%
	20	Best Buy Co., Inc.		551
	35	Industria de Diseno Textil S.A.		1,557
	46	Kohl’s Corp. (D)		1,661

				3,769

		Semiconductors & Semiconductor Equipment — 0.7%
	212	Altera Corp.		3,543
		Software & Services — 10.0%
	512	Electronic Arts, Inc. (D)		8,209
	32	Google, Inc. (D)		9,906
	31	Nintendo Co., Ltd.		11,876
	735	Oracle Corp. (D)		13,039
	142	Visa, Inc.		7,453
	185	Western Union Co.		2,653

				53,136

		Technology Hardware & Equipment — 6.1%
	84	Apple, Inc. (D)		7,186
	472	Cisco Systems, Inc. (D)		7,695
	200	Hewlett-Packard Co.		7,240
	297	NetApp, Inc. (D)		4,146
	156	Research In Motion Ltd. (D)		6,335

				32,602

		Telecommunication Services — 9.9%
	375	American Tower Corp. Class A (D)		10,993
	1,035	MetroPCS Communications, Inc. (D)		15,374
	140	Millicom International Cellular S.A.		6,291
	344	Softbank Corp.		6,248
	484	Telefonica S.A.		10,980
	346	Vimpel-Communications ADR		2,479

				52,365

		Transportation — 0.9%
	77	FedEx Corp.		4,933

		Total common stock (cost $679,457)	$	516,557

The accompanying notes are an integral part of these financial statements.

Hartford Global Growth HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — 2.2%
		Repurchase Agreements — 2.2%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9, collateralized by U.S. Treasury Note 4.50%, 2009, value of $9)
$	9	0.03% dated 12/31/2008			$	9
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,856, collateralized by FNMA 5.00%, 2035 — 2038, value of $3,934)
	3,856	0.08% dated 12/31/2008				3,856
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $170, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $173)
	170	0.07% dated 12/31/2008				170
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,729, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $3,804)
	3,729	0.10% dated 12/31/2008				3,729
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,433, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $3,501)
	3,433	0.05% dated 12/31/2008				3,433
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $466, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $476)
	466	0.07% dated 12/31/2008				466

		Total short-term investments (cost $11,663)			$	11,663

		Total investments (cost $691,120) (C)	99.4	%	$	528,220
		Other assets and liabilities	0.6	%		3,189

		Total net assets	100.0	%	$	531,409


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 43.40% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $697,628 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	13,205
Unrealized Depreciation		(182,613	)

Net Unrealized Depreciation	$	(169,408	)


(D)		Currently non-income producing.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Canadian Dollar (Buy)	$	811	$	813		01/05/09	$	(2	)
Euro (Buy)		133		135		01/02/09		(2	)
Euro (Buy)		218		220		01/05/09		(2	)
Japanese Yen (Sell)		1,334		1,341		01/07/09		7

							$	1


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Country
as of December 31, 2008


	Percentage of
Country	Net Assets
Australia		2.1	%


Brazil		0.8


Canada		3.5


China		0.8


Denmark		2.3


France		5.0


Germany		3.7


Greece		0.6


Israel		2.2


Japan		4.7


Luxembourg		1.2


Norway		1.2


Russia		0.5


Spain		2.3


Switzerland		6.3


United Kingdom		6.2


United States		53.8


Short-Term Investments		2.2


Other Assets and Liabilities		0.6


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

Hartford Growth Opportunities HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 95.7%
		Banks — 1.8%
	105	PNC Financial Services Group, Inc.	$	5,150
	373	Wells Fargo & Co.		11,008

				16,158

		Capital Goods — 15.2%
	510	Aecom Technology Corp. (D)		15,675
	150	Flowserve Corp.		7,704
	868	General Electric Co.		14,063
	295	Honeywell International, Inc.		9,692
	240	Illinois Tool Works, Inc.		8,419
	254	Lockheed Martin Corp.		21,331
	277	PACCAR, Inc.		7,931
	375	Pall Corp.		10,673
	133	Precision Castparts Corp.		7,881
	216	Raytheon Co.		11,030
	49,720	Rolls-Royce Group — C Share Entitlement (A)(H)		—
	869	Rolls-Royce Group plc		4,315
	163	Sunpower Corp. (D)		6,020
	151	Vestas Wind Systems A/S (D)		8,940

				133,674

		Commercial & Professional Services — 3.5%
	530	Covanta Holding Corp. (D)		11,632
	360	Republic Services, Inc.		8,920
	426	Tetra Tech, Inc. (D)		10,288

				30,840

		Consumer Durables & Apparel — 1.9%
	624	Jarden Corp. (D)		7,175
	235	Snap-On, Inc.		9,262

				16,437

		Consumer Services — 0.6%
	954	Las Vegas Sands Corp. (D)		5,657

		Diversified Financials — 4.7%
	284	Bank of America Corp.		4,000
	133	Deutsche Boerse AG		9,657
	125	Goldman Sachs Group, Inc.		10,557
	176	JP Morgan Chase & Co.		5,552
	248	Polaris Acquisition Corp. (D)		2,260
	233	State Street Corp.		9,164

				41,190

		Energy — 5.8%
	176	Consol Energy, Inc.		5,042
	114	EOG Resources, Inc.		7,557
	224	Forest Oil Corp. (D)		3,695
	141	Occidental Petroleum Corp.		8,477
	176	Smith International, Inc.		4,031
	147	Transocean, Inc. (D)		6,955
	168	Ultra Petroleum Corp. (D)		5,798
	256	XTO Energy, Inc.		9,011

				50,566

		Food, Beverage & Tobacco — 1.0%
	222	Nestle S.A.		8,780

		Health Care Equipment & Services — 6.9%
	293	Covidien Ltd.		10,600
	431	McKesson Corp.		16,685
	253	Medtronic, Inc.		7,962
	286	St. Jude Medical, Inc. (D)		9,440
	210	UnitedHealth Group, Inc.		5,580
	298	Varian Medical Systems, Inc. (D)		10,442

				60,709

		Household & Personal Products — 2.1%
	179	Clorox Co.		9,934
	227	Reckitt Benckiser Group plc		8,650

				18,584

		Insurance — 5.9%
	235	ACE Ltd.		12,457
	172	AON Corp.		7,852
	643	Marsh & McLennan Cos., Inc.		15,611
	41	Muenchener Rueckversicherungs-Gesellschaft AG		6,324
	212	Travelers Cos., Inc.		9,560

				51,804

		Materials — 3.7%
	167	Cliff’s Natural Resources, Inc.		4,272
	516	Companhia Vale do Rio Doce ADR		6,252
	333	FMC Corp.		14,875
	99	Monsanto Co.		6,929

				32,328

		Media — 1.5%
	345	DreamWorks Animation SKG, Inc. (D)		8,725
	518	Focus Media Holding Ltd. ADR (D)		4,707

				13,432

		Pharmaceuticals, Biotechnology & Life Sciences — 14.1%
	279	Abbott Laboratories		14,901
	325	Alkermes, Inc. (D)		3,458
	201	Amgen, Inc. (D)		11,619
	397	Amylin Pharmaceuticals, Inc. (D)		4,304
	292	Auxilium Pharmaceuticals, Inc. (D)		8,310
	249	Cephalon, Inc. (D)		19,168
	223	Charles River Laboratories International, Inc. (D)		5,851
	311	Elan Corp. plc ADR (D)		1,865
	353	Pharmaceutical Product Development, Inc.		10,242
	1,120	Schering-Plough Corp.		19,075
	479	Shionogi & Co., Ltd.		12,368
	284	Teva Pharmaceutical Industries Ltd. ADR		12,069

				123,230

		Real Estate — 0.7%
	331	Kimco Realty Corp.		6,056

		Retailing — 5.1%
	396	Best Buy Co., Inc.		11,120
	886	Gap, Inc.		11,866
	249	Kohl’s Corp. (D)		9,010
	723	Staples, Inc.		12,953

				44,949

		Software & Services — 12.9%
	327	Accenture Ltd. Class A		10,726
	20	Baidu.com ADR (D)		2,624
	548	BMC Software, Inc. (D)		14,755
	418	Electronic Arts, Inc. (D)		6,710
	14	Google, Inc. (D)		4,338
	475	McAfee, Inc. (D)		16,403

The accompanying notes are an integral part of these financial statements.

Hartford Growth Opportunities HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Software & Services — (continued)
	631	Microsoft Corp.			$	12,259
	37	Nintendo Co., Ltd.				14,129
	851	Red Hat, Inc. (D)				11,249
	182	Visa, Inc.				9,551
	744	Western Union Co.				10,674

						113,418

		Technology Hardware & Equipment — 4.7%
	425	Corning, Inc.				4,049
	375	Dell, Inc. (D)				3,840
	514	FLIR Systems, Inc. (D)				15,757
	289	Hewlett-Packard Co.				10,488
	475	NetApp, Inc. (D)				6,639

						40,773

		Telecommunication Services — 2.0%
	1,153	MetroPCS Communications, Inc. (D)				17,126

		Transportation — 1.6%
	814	Delta Air Lines, Inc. (D)				9,330
	154	Ryanair Holdings plc ADR (D)				4,485

						13,815

		Total common stock (cost $1,065,804)			$	839,526



EXCHANGE TRADED FUNDS — 1.2%
		Other Investment Pools and Funds — 1.2%
	117	S & P 500 Depositary Receipt			$	10,567

		Total exchange traded funds (cost $10,224)			$	10,567

		Total long-term investments (cost $1,076,028)			$	850,093



Principal
Amount

SHORT-TERM INVESTMENTS — 3.7%
		Repurchase Agreements — 3.3%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $22, collateralized by U.S. Treasury Note 4.50%, 2009, value of $23)
$	22	0.03% dated 12/31/2008			$	22
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,649, collateralized by FNMA 5.00%, 2035 — 2038, value of $9,842)
	9,649	0.08% dated 12/31/2008				9,649
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $424, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $433)
	424	0.07% dated 12/31/2008				424
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,331, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $9,517)
	9,330	0.10% dated 12/31/2008				9,330
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $8,589, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $8,760)
	8,589	0.05% dated 12/31/2008				8,589
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,166, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $1,190)
	1,166	0.07% dated 12/31/2008				1,166

						29,180

		U.S. Treasury Bills — 0.4%
	2,998	0.96%, 01/22/2009 (M)				3,000

		Total short-term investments (cost $32,178)			$	32,180

		Total investments (cost $1,108,205) (C)	100.6	%	$	882,273
		Other assets and liabilities	(0.6	)%		(5,492	)

		Total net assets	100.0	%	$	876,781


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 11.99% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange. The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,127,210 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	20,937
Unrealized Depreciation		(265,874	)

Net Unrealized Depreciation	$	(244,937	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008 rounds to zero. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares/Par		Security	Cost Basis
05/2008		49,720	Rolls-Royce Group — C Share Entitlement	$	150


		The aggregate value of these securities at December 31, 2008 rounds to zero.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Money Market HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)
		Basic Materials — 3.0%
		Export Development Canada
$	4,250	0.25%, 03/10/2009	$	4,248
	19,750	0.55%, 03/05/2009		19,731
	29,000	1.12%, 05/07/2009		28,886
	25,750	1.69%, 03/12/2009		25,666
		Praxair, Inc.
	25,750	0.65%, 04/01/2009		25,708
	28,250	0.70%, 04/03/2009		28,200
	24,750	0.80%, 03/09/2009		24,713

				157,152

		Consumer Cyclical — 0.8%
		Wal-Mart Stores, Inc.
	42,750	0.22%, 03/03/2009		42,734
		Consumer Staples — 3.1%
		Coca Cola Co.
	9,000	0.05%, 01/05/2009		9,000
	51,500	1.30%, 01/13/2009		51,478
		Colgate-Palmolive Co.
	20,624	0.15%, 02/06/2009		20,621
		Procter & Gamble Co.
	25,500	0.25%, 01/22/2009 (I)		25,496
	20,250	0.30%, 03/30/2009 (I)		20,235
	32,500	1.10%, 01/23/2009 (I)		32,478

				159,308

		Energy — 1.4%
		ConocoPhillips
	21,250	1.25%, 01/30/2009		21,242
	15,250	1.75%, 01/16/2009 (I)		15,239
	25,750	1.85%, 01/15/2009 (I)		25,731
	13,000	1.95%, 01/06/2009 (I)		12,997

				75,209

		Finance — 47.8%
		American Honda Finance Corp.
	25,750	2.00%, 09/18/2009 (I)(L)		25,750
	27,250	4.18%, 04/02/2009 (I)(L)		27,250
		Australia & New Zealand Banking Group Ltd.
	26,250	3.21%, 10/02/2009 (I)(BB)(?)		26,250
		Bank of America Corp.
	21,500	1.55%, 01/15/2009		21,487
		Bank of Nova Scotia
	25,250	4.57%, 08/10/2009 (I)(L)		25,250
		BNP Paribas
	23,500	1.11%, 02/17/2009		23,466
		BNP Paribas NY Branch
	28,750	2.01%, 01/26/2009		28,750
		Caterpillar Financial Services Corp.
	35,000	2.15%, 05/15/2009 (L)		34,991
		Citigroup Funding, Inc.
	52,250	0.23%, 03/06/2009		52,229
	53,250	0.25%, 02/04/2009		53,237
		Danske Corp.
	24,000	3.03%, 03/03/2009		23,878
		European Investment Bank
	77,250	0.47%, 03/12/2009		77,179
	34,500	1.53%, 02/17/2009		34,432
	45,000	1.67%, 03/03/2009		44,901
		Federal Home Loan Bank
	25,750	0.07%, 01/12/2009		25,750
	52,250	0.10%, 02/04/2009		52,245
	52,250	0.14%, 03/10/2009		52,236
	18,000	0.15%, 02/10/2009 — 02/27/2009		17,996
	45,450	0.20%, 04/13/2009 — 04/14/2009		45,424
	52,250	0.21%, 03/20/2009		52,226
	25,750	0.75%, 02/17/2009		25,725
	22,900	2.01%, 05/20/2009 (L)		22,898
	51,120	2.78%, 01/05/2009		51,111
	21,250	3.66%, 01/23/2009 (L)		21,251
		Federal Home Loan Mortgage Corp.
	40,250	0.05%, 02/02/2009		40,248
	21,200	0.10%, 01/05/2009 — 01/07/2009		21,200
	31,750	0.20%, 04/17/2009		31,731
	52,250	0.25%, 03/16/2009		52,223
	51,250	0.55%, 02/09/2009		51,219
	28,500	0.71%, 02/04/2009 (M)		28,481
	34,000	1.78%, 04/07/2009 (L)		34,000
	29,000	2.36%, 02/24/2009 (M)		28,901
	44,750	2.64%, 01/09/2009		44,724
	35,640	5.72%, 03/15/2009		35,844
		Federal National Mortgage Association
	52,250	0.10%, 02/02/2009 (M)		52,245
	64,250	0.15%, 03/05/2009 — 03/18/2009		64,230
	77,000	0.15%, 02/23/2009 (M)		76,983
	17,500	0.20%, 03/11/2009		17,493
	40,250	0.61%, 01/20/2009 (M)		40,237
	55,600	0.80%, 02/17/2009		55,543
	37,600	2.22%, 01/05/2009 (M)		37,591
	22,000	2.77%, 02/11/2009		21,931
		General Electric Capital Corp.
	51,350	0.25%, 03/30/2009		51,319
	19,400	0.50%, 06/24/2009 (L)(BB)		19,400
		J.P. Morgan Chase Funding Corp.
	25,750	0.10%, 01/20/2009 (I)		25,749
		John Deere Capital Corp.
	22,300	2.24%, 09/01/2009 (L)		22,288
		JP Morgan Chase & Co.
	26,500	1.50%, 01/26/2009		26,473
	26,250	2.73%, 01/05/2009		26,242
		Kreditanstalt fuer Wiederaufbau
	22,500	0.15%, 02/17/2009 (I)		22,496
	52,250	0.48%, 02/10/2009		52,223
	31,250	0.80%, 01/21/2009 (I)		31,236
	49,750	0.94%, 01/20/2009 (I)		49,743
		Nordea Bank Finland NY
	24,500	1.86%, 04/09/2009 (L)		24,470
		Nordea North America
	29,000	2.87%, 01/12/2009		28,975
		Queensland Treasury Corp.
	28,000	0.86%, 03/16/2009		27,952
	38,700	1.08%, 01/28/2009		38,670
	38,700	1.33%, 02/27/2009		38,620
		Rabobank USA
	29,000	0.45%, 02/19/2009		28,982
	25,800	1.24%, 01/20/2009		25,783
		Royal Bank of Canada
	21,250	1.60%, 10/15/2009 (I)(L)		21,250
		Royal Bank of Canada NY
	31,500	0.34%, 02/17/2009		31,500
		Royal Bank of Scotland Group plc
	25,750	2.40%, 10/09/2009 (I)(L)(BB)		25,750
		State Street Corp.
	51,500	0.45%, 01/08/2009		51,495
		Svenska Handelsbanken Ab
	15,400	4.42%, 05/06/2009 (I)(L)(BB)		15,400
		Toronto-Dominion Bank NY
	25,750	1.80%, 01/20/2009		25,750
		Toronto-Dominion Holdings
	26,500	0.20%, 01/16/2009		26,498

The accompanying notes are an integral part of these financial statements.

Hartford Money Market HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)

		Finance — (continued)
		Toyota Motor Credit Corp.
$	38,000	2.76%, 01/30/2009			$	37,916
		Wachovia Bank NA
	34,000	4.61%, 08/04/2009 (L)(BB)				34,000
		Wells Fargo & Co.
	22,000	1.03%, 06/18/2009 (L)				22,000
		Westpac Banking Corp.
	26,500	1.02%, 03/17/2009 (I)				26,444
	25,750	3.07%, 01/28/2009 (L)				25,750

						2,485,110

		Foreign Governments — 5.0%
		British Columbia (Province Of)
	22,250	0.20%, 03/18/2009				22,240
	27,300	1.15%, 03/02/2009				27,248
	21,500	1.30%, 02/23/2009				21,459
	31,400	1.51%, 05/26/2009 — 05/27/2009				31,210
		Ontario (Province of)
	28,750	1.28%, 02/02/2009				28,717
	25,800	1.34%, 01/26/2009				25,776
	25,800	1.49%, 02/24/2009				25,742
		Quebec (Province of)
	41,000	1.09%, 01/16/2009 — 02/02/2009				40,971
	38,500	1.19%, 03/02/2009				38,424

						261,787



Shares

		Investment Pools and Funds — 5.2%
		JP Morgan U.S. Government Money
	104,000	Market Fund				104,000
		State Street Bank U.S. Government
	60,000	Money Market Fund				60,000
		Wells Fargo Advantage Government
	104,000	Money Market Fund				104,000

						268,000



Principal
Amount

		Repurchase Agreements — 6.0%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $171,248, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $172,939)
$	171,248	0.01% dated 12/31/2008				171,248
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $113,522, collateralized by U.S. Treasury Note 3.13%, 2013, value of $115,451)
	113,522	0.03% dated 12/31/2008				113,522
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $26,400, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $26,425)
	26,400	0.02% dated 12/31/2008				26,400

						311,170

		Services — 1.0%
		Walt Disney Co.
	38,000	0.35%, 03/10/2009				37,975
	13,750	1.10%, 01/07/2009				13,747

						51,722

		Technology — 3.0%
		AT&T, Inc.
	22,250	1.00%, 02/04/2009 (I)				22,229
	25,750	1.05%, 01/20/2009				25,744
	31,250	1.15%, 01/29/2009				31,222
		Microsoft Corp.
	25,750	0.15%, 02/19/2009				25,745
	53,000	0.25%, 01/05/2009				52,998

						157,938

		U.S. Treasury Bills — 22.3%
	171,000	0.15%, 04/29/2009 (M)				170,916
	258,000	0.31%, 02/05/2009 (M)				257,923
	300,000	0.36%, 02/12/2009 (M)				299,880
	172,000	0.41%, 03/05/2009 (M)				171,879
	258,000	0.43%, 01/22/2009 (M)				257,938

						1,158,536

		Utilities — 1.5%
		Florida Power & Light Co.
	78,750	0.25%, 01/09/2009				78,746
		Capital Support Agreement — 0.0%
	—	Hartford Life, Inc. Capital Support Agreement (BB)				—

		Total investments (cost $5,207,412) (C)	100.1	%	$	5,207,412
		Other assets and liabilities	(0.1	)%		(5,750	)

		Total net assets	100.0	%	$	5,201,662


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. The rates presented in this Schedule of Investments are yields, unless otherwise noted. Market value of investments in foreign securities represents 14.69% of total net assets at December 31, 2008.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		Also represents cost for tax purposes.

(BB)		The Fund has entered into a Capital Support Agreement with Hartford Life, Inc. which provides that Hartford Life, Inc. will contribute capital to the Fund, up to a specified maximum amount, in the event that the Fund realizes a loss on any of these securities and such realized loss causes the Fund’s net asset value as calculated using fair values to drop below $0.9950. See footnote 10 for additional information.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $476,973, which represents 9.17% of total net assets.

(L)		Variable rate securities; the yield reported is the rate in effect at December 31, 2008.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels
December 31, 2008
(000’s Omitted)


	Hartford		Hartford			Hartford
	Global Growth		Growth Opportunities			Money Market
	HLS Fund		HLS Fund			HLS Fund
Assets:
Investment in securities — Level 1	$	340,746	$	806,109		$	579,170
Investment in securities — Level 2		187,474		76,164			4,628,242
Investment in securities — Level 3		—		—			—

Total	$	528,220	$	882,273		$	5,207,412

Other financial instruments — Level 1 *	$	—	$	—		$	—
Other financial instruments — Level 2 *		7		—			—

Total	$	7	$	—		$	—


Liabilities:
Securities sold short — Level 1	$	—	$	—		$	—

Total	$	—	$	—		$	—

Other financial instruments — Level 1 *	$	—	$	—			—
Other financial instruments — Level 2 *		6		—			—

Total	$	6	$	—		$	—

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.
Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of December 31, 2007	$	—	$	—		$	—
Realized gain (loss)		—		—			—
Change in unrealized appreciation (depreciation) (V)		—		(150	)		—
Net purchases (sales)		—		—			—
Transfers in and /or out of Level 3		—		150			—

Balance as of December 31, 2008	$	—	$	—		$	—

(V) Change in unrealized gains or losses relating to assets still held at December 31, 2008	$	—	$	(111	)	$	—

Other financial instruments:
Balance as of December 31, 2007	$	—	$	—		$	—
Realized gain (loss) †		—		—			—
Change in unrealized appreciation (depreciation)		—		—			—

Balance as of December 31, 2008	$	—	$	—		$	—


Liabilities:
Other financial instruments:
Balance as of December 31, 2007	$	—	$	—		$	—
Realized gain (loss) †		—		—			—
Change in unrealized appreciation (depreciation)		—		—			—

Balance as of December 31, 2008	$	—	$	—		$	—

† The realized gain (loss) earned during the period ended December 31, 2008, for other financial instruments	$	—	$	—		$	—


†		Commenced operations on January 31, 2008.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Assets and Liabilities
December 31, 2008
(000’s Omitted)


				Hartford			Hartford
	Hartford			Growth			Money Market
	Global Growth HLS Fund			Opportunities HLS Fund			HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market Fund) @	$	528,220		$	882,273		$	5,207,412
Cash		92			—			10
Unrealized appreciation on forward foreign currency contracts		7			—			—
Receivables:
Investment securities sold		5,506			—			—
Fund shares sold		2,185			423			4,886
Dividends and interest		284			996			2,523
Other assets		2			3			901

Total assets		536,296			883,695			5,215,732


Liabilities:
Unrealized depreciation on forward foreign currency contracts		6			—			—
Payables:
Investment securities purchased		2,515			5,455			—
Fund shares redeemed		2,200			1,245			13,336
Investment management and advisory fees (Note 5)		61			113			249
Administrative fee		23			—			228
Distribution fees (Note 5)		6			6			42
Accrued expenses		76			95			215

Total liabilities		4,887			6,914			14,070

Net assets	$	531,409		$	876,781		$	5,201,662


Summary of Net Assets:
Capital stock and paid-in-capital	$	847,171		$	1,364,683		$	5,212,739
Accumulated undistributed net investment income		270			588			1,955
Accumulated net realized loss on investments and foreign currency transactions		(153,122	)		(262,557	)		(13,032	)
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		(162,910	)		(225,933	)		—

Net assets	$	531,409		$	876,781		$	5,201,662

Shares authorized		3,400,000			700,000			14,000,000

Par value	$	0.001		$	0.001		$	0.001

Class IA: Net asset value per share	$	10.17		$	17.05		$	1.00

Shares outstanding		41,202			44,148			4,436,524

Net assets	$	419,183		$	752,898		$	4,427,230

Class IB: Net asset value per share	$	10.12		$	16.89		$	1.00

Shares outstanding		11,087			7,334			776,215

Net assets	$	112,226		$	123,883		$	774,432

@ Cost of securities	$	691,120		$	1,108,206		$	5,207,412

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Operations
For the Year Ended December 31, 2008
(000’s Omitted)


	Hartford			Hartford			Hartford
	Global Growth			Growth Opportunities			Money Market
	HLS Fund			HLS Fund			HLS Fund

Investment Income:
Dividends	$	12,303		$	13,325		$	—
Interest		251			546			96,068
Securities lending		1,706			689			—
Less: Foreign tax withheld		(1,011	)		(327	)		—

Total investment income, net		13,249			14,233			96,068


Expenses:
Investment management and advisory fees		4,787			7,929			8,886
Administrative service fees		1,872			—			7,896
Distribution fees — Class IB		514			501			1,575
Custodian fees		51			175			7
Accounting services		131			—			395
Board of Directors’ fees		20			26			58
Other expenses		123			163			1,150

Total expenses (before waivers and fees paid indirectly)		7,498			8,794			19,967
Expense waivers		—			—			(1,974	)
Commission recapture		(27	)		(104	)		—
Custodian fee offset		(2	)		(1	)		(5	)

Total waivers and fees paid indirectly		(29	)		(105	)		(1,979	)

Total expenses, net		7,469			8,689			17,988

Net investment income (loss)		5,780			5,544			78,080


Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized loss on investments		(152,412	)		(260,841	)		(13,032	)
Net realized gain (loss) on futures, options and swap contracts		—			(287	)		—
Net realized gain (loss) on foreign currency transactions		65			(331	)		—

Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(152,347	)		(261,459	)		(13,032	)


Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(487,895	)		(494,265	)		—
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		(13	)		—			—

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(487,908	)		(494,265	)		—

Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(640,255	)		(755,724	)		(13,032	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(634,475	)	$	(750,180	)	$	65,048

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Statements of Changes in Net Assets

(000’s Omitted)


	Hartford						Hartford						Hartford
	Global Growth						Growth Opportunities						Money Market
	HLS Fund						HLS Fund						HLS Fund
				For the			For the			For the			For the			For the
	For the			Year Ended			Year Ended			Year Ended			Year Ended			Year Ended
	Year Ended December 31, 2008			December 31, 2007			December 31, 2008			December 31, 2007			December 31, 2008			December 31, 2007
Operations:
Net investment income	$	5,780		$	967		$	5,544		$	1,772		$	78,080		$	108,541
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(152,347	)		155,641			(261,459	)		291,546			(13,032	)		52
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(487,908	)		123,099			(494,265	)		81,169			—			—

Net increase (decrease) in net assets resulting from operations		(634,475	)		279,707			(750,180	)		374,487			65,048			108,593


Distributions to Shareholders:
From net investment income
Class IA		(4,785	)		(509	)		(4,411	)		(1,850	)		(65,065	)		(90,770	)
Class IB		(775	)		(153	)		(203	)		(60	)		(11,060	)		(17,771	)
From net realized gain on investments
Class IA		(29,584	)		(107,687	)		(45,855	)		(220,443	)		—			(43	)
Class IB		(8,357	)		(31,874	)		(8,404	)		(43,763	)		—			(9	)

Total distributions		(43,501	)		(140,223	)		(58,873	)		(266,116	)		(76,125	)		(108,593	)


Capital Share Transactions:
Class IA
Sold		71,448			73,376			216,584			217,719			4,105,607			2,394,176
Issued in merger		—			—			—			—			—			—
Issued on reinvestment of distributions		34,369			108,196			50,266			222,293			64,851			90,667
Redeemed		(184,771	)		(203,272	)		(243,707	)		(222,459	)		(1,958,058	)		(1,819,153	)

Total capital share transactions		(78,954	)		(21,700	)		23,143			217,553			2,212,400			665,690

Class IB
Sold		31,692			33,680			55,321			83,662			765,243			503,545
Issued on reinvestment of distributions		9,132			32,027			8,607			43,823			11,013			17,750
Redeemed		(81,116	)		(77,401	)		(94,271	)		(61,762	)		(453,017	)		(388,244	)

Total capital share transactions		(40,292	)		(11,694	)		(30,343	)		65,723			323,239			133,051

Net increase (decrease) from capital share transactions		(119,246	)		(33,394	)		(7,200	)		283,276			2,535,639			798,741

Net increase (decrease) in net assets		(797,222	)		106,090			(816,253	)		391,647			2,524,562			798,741

Net Assets:
Beginning of period		1,328,631			1,222,541			1,693,034			1,301,387			2,677,100			1,878,359

End of period	$	531,409		$	1,328,631		$	876,781		$	1,693,034		$	5,201,662		$	2,677,100

Accumulated undistributed net investment income	$	270		$	12		$	588		$	94		$	1,955		$	—


Shares:
Class IA
Sold		4,465			3,252			8,780			6,208			4,105,606			2,394,177
Issued on reinvestment of distributions		2,004			5,023			1,860			6,954			64,851			90,667
Redeemed		(11,158	)		(9,286	)		(9,712	)		(6,570	)		(1,958,057	)		(1,819,153	)

Total share activity		(4,689	)		(1,011	)		928			6,592			2,212,400			665,691

Class IB
Sold		1,976			1,493			2,152			2,405			765,243			503,545
Issued on reinvestment of distributions		513			1,496			309			1,386			11,013			17,750
Redeemed		(4,866	)		(3,528	)		(3,689	)		(1,845	)		(453,017	)		(388,245	)

Total share activity		(2,377	)		(539	)		(1,228	)		1,946			323,239			133,050

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements
December 31, 2008
(000’s Omitted)


1.	Organization:


2.	Significant Accounting Policies:

The following is a summary of significant accounting policies of the Funds, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).


	a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.


	b)	Security Valuation — Except for Hartford Money Market HLS Fund, the Funds generally use market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, a Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of that Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which a Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, each Fund uses a fair value pricing service approved by that Fund’s Board of Directors, which employs quantitative models which evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, ETF’s) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Funds. The value of the portfolio securities of a Fund that invests in foreign securities may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Funds may cause the NAV of their respective shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that any Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which that Fund determines its NAV.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.


	c)	Foreign Currency Transactions — The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.


	d)	Securities Lending — The Funds, except for the Hartford Money Market HLS Fund, may lend their securities to certain qualified brokers who pay these Funds negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.


	e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Funds may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”), or Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.

	f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Funds enter into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by each Fund’s custodian in book entry or physical form in the custodial account of the Funds or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. Certain Funds, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2008.

	g)	Reverse Repurchase Agreements — Each Fund may also enter into reverse repurchase agreements. Reverse repurchase agreements involve sales by a Fund of portfolio assets concurrently with an agreement by the Fund to repurchase the same assets at a later date at a fixed price. Reverse repurchase agreements carry the risk that the market value of the securities which a Fund is obligated to repurchase may decline below the repurchase price. A


		reverse repurchase agreement is viewed as a collateralized borrowing by a Fund. Borrowing magnifies the potential for gain or loss on the portfolio securities of a Fund and, therefore, increases the possibility of a fluctuation in the Fund’s NAV. Reverse Repurchase Agreements are valued at proceeds plus accrued interest. There were no outstanding reverse repurchase agreements as of December 31, 2008.


	h)	Forward Foreign Currency Contracts — Each Fund may enter into forward foreign currency contracts that obligate the Funds to repurchase/replace or sell currencies at specified future dates. The Funds may enter into forward foreign currency contracts to hedge against adverse fluctuations in exchange rates between currencies.


	i)	Indexed Securities — The Funds may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Funds use these securities to increase or decrease their exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. Certain Funds had investments in indexed securities, as of December 31, 2008, as shown in the Schedule of Investments under Exchange Traded Funds.

	j)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Funds’ shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of each Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of each Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of a Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.


	k)	Illiquid and Restricted Securities — Each Fund is permitted to invest up to 15% of its net assets in illiquid securities, except for Hartford Money Market HLS Fund which may invest up to 10% in such securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine a Fund’s NAV. A Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on NAV. Each Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Funds’ Board of Directors. Certain Funds, as shown in the Schedule of Investments, had illiquid or restricted securities as of December 31, 2008.

	l)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Funds on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Funds identify securities segregated in their records with value at least equal to the amount of the commitment. As of December 31, 2008, none of these Funds had entered into outstanding when-issued or forward commitments.

	m)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, lower rated bonds have higher credit risk. High yield bond prices can fall on bad news about the economy, an industry or a company. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.

	n)	Senior Floating Rate Interests — Certain Funds may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default and generally pay higher interest rates than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


		assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.


	o)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.


	p)	Swaps — Certain Funds may enter into event linked swaps, including credit default swaps. The credit default swap market allows a Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract.

Certain Funds may enter into interest rate swaps. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate multiplied by a “notional principal amount,” in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. If a swap agreement provides for payments in different currencies, the parties might agree to exchange the notional principal amount as well. Swaps may also depend on other prices or rates, such as the value of an index or mortgage prepayment rates. None of the Funds, had outstanding swaps as of December 31, 2008.


	q)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

	r)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective January 1, 2008, the Funds adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.


	•	Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, repurchase agreements and rights and warrants.
	•	Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and which are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.
	•	Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and requires significant management judgment or estimation. This category includes broker-quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than that presented above, as individual circumstances dictate.

Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedules of Investments.


	s)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk- related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

	t)	Indemnifications: Under the Companies’ organizational documents, each Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Companies, on behalf of the Funds, may enter into contracts that contain a variety of indemnifications. The Companies’ maximum exposure under these arrangements is unknown. However, the Companies have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.


3.	Futures and Options Transactions:

The use of futures contracts involves elements of market risk, which may exceed the amounts recognized in the Statements of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Funds’ strategies and potentially result in loss. No Funds had outstanding futures contracts as of December 31, 2008.


4.	Federal Income Taxes:


	a)	Federal Income Taxes — For federal income tax purposes, the Funds intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of their taxable net investment income and net realized capital gains to their shareholders and otherwise complying with the requirements of regulated investment companies. The Funds have distributed substantially all of their income and capital gains in prior years and each Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distribution for federal income tax purposes.

	b)	Net investment income (loss ) and net realized gains (losses) may differ for financial statement and tax purposes primarily because of wash sale transactions, amortization adjustments, and differing tax treatment for investments in PFICs, derivatives, REITs, RICs, and partnerships. The character of distributions made during the year from net investment income or realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividend distributions, the fiscal year in which amounts are distributed may differ from the year that the income or realized gains (losses) were recorded by the Funds.

	c)	The tax character of distributions paid for the periods indicated is as follows (as adjusted for dividends payable):


	For the Year Ended						For the Year Ended
	December 31, 2008						December 31, 2007
			Long-Term		Tax				Long-Term
	Ordinary		Capital		return of		Ordinary		Capital
	Income		Gains(a)		capital		Income		Gains(a)

Hartford Global Growth HLS Fund	$	9,441	$	34,060	$	—	$	32,462	$	107,761
Hartford Growth Opportunities HLS Fund		24,880		33,993		—		163,824		102,292
Hartford Money Market HLS Fund		76,078		—		—		108,593		—


	(a)	The Funds designate these distributions as long-term gain capital dividends per IRC code Sec. 852(b)(3)(C).

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

As of December 31, 2008, the components of distributable earnings (deficit) on tax basis were as follows:


											Total
	Undistributed		Undistributed		Accumulated			Unrealized			Accumulated
	Ordinary		Long-Term		Capital and Other			Appreciation			Earnings
	Income		Capital Gain		Losses*			(Depreciation)@			(Deficit)

Hartford Global Growth HLS Fund	$	273	$	—	$	(146,614	)	$	(169,421	)	$	(315,762	)
Hartford Growth Opportunities HLS Fund		588		—		(243,551	)		(244,939	)		(487,902	)
Hartford Money Market HLS Fund		2,002		—		(13,032	)		—			(11,030	)


	*	Certain Funds had capital loss carryforwards that are identified in Note 4 (e).

	@	The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, mark to market of Passive Foreign Investment Companies and basis differences in real estate investment trusts.


	d)	Reclassification of Capital Accounts:


	Undistributed			Accumulated
	Net Investment			Net Realized			Paid-in-
	Income			Gain (Loss)			Capital

Hartford Global Growth HLS Fund	$	38		$	(38	)	$	—
Hartford Growth Opportunities HLS Fund		(436	)		436			—


	e)	Capital Loss Carryforward:

At December 31, 2008 (tax-year-end), the following Funds had capital loss carryforwards for U.S. federal income tax purposes of approximately:


Fund	2009		2010		2011		2012		2013		2014		2015		2016		Total

Hartford Global Growth HLS Fund	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	92,362	$	92,362
Hartford Growth Opportunities HLS Fund		—		—		—		—		—		—		—		153,498		153,498
Hartford Money Market HLS Fund		—		—		—		—		—		—		—		13,032		13,032

As of December 31, 2008, the following Funds elected to defer the following post October losses.


			Long-Term
Fund	Ordinary Income		Capital Gain

Hartford Global Growth HLS Fund	$	—	$	54,252
Hartford Growth Opportunities HLS Fund		—		90,053

Based on certain provisions in the IRC, various limitations regarding the future utilization of Hartford Global Growth HLS Fund carryforwards may apply.


	f)	Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Funds adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended December 31, 2005 — 2008) and has determined there is no impact to the Funds’ financial statements.


5.	Expenses:


	a)	Investment Management and Advisory Agreements — HL Investment Advisors, LLC (HL Advisors), an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Funds pursuant to an Investment Management Agreement for the Hartford Series Fund, Inc. and the Hartford HLS Series Fund II, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for each Fund. In addition, HL Advisors provides administrative personnel, services, equipment, facilities and office space for proper operation of the Funds.

HL Advisors has contracted with Wellington for the provision of day-to-day investment management services to Hartford Global Growth HLS Fund and Hartford Growth Opportunities HLS Fund, in accordance with the Fund’s investment objective and policies.

In addition, HL Advisors has contracted with Hartford Investment Management for the provision of day-to-day investment management services for Hartford Money Market HLS Fund in accordance with the Fund’s investment objective and policies.

Each Fund pays a fee to HL Advisors, a portion of which is used to compensate Hartford Investment Management and Wellington, as applicable.


	b)	Administrative Services Agreement — Under the Administrative Services Agreement between HLIC, Hartford Global Growth HLS Fund, and Hartford Money Market HLS Fund, HLIC provides administrative services to the Funds and receives monthly compensation at the annual rate of 0.20% of each Fund’s average daily net assets. The Funds assume and pay certain other expenses (including, but not limited to, accounting, custodian, state taxes and Directors’ fees).


Hartford Global Growth HLS Fund (1)
Average Daily Net Assets	Annual Fee

On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
Over $1 billion		0.625%


(1)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.7750%
On next $250 million		0.7250%
On next $500 million		0.6750%
On next $4 billion		0.6250%
On next $5 billion		0.6225%
Over $10 billion		0.6200%


Hartford Growth Opportunities HLS Fund (2)
Average Daily Net Assets	Annual Fee

On first $100 million		0.700%
Over $100 million		0.600%


(2)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $100 million		0.7000%
On next $4.9 billion		0.6000%
On next $5 billion		0.5975%
Over $10 billion		0.5950%

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


Hartford Money Market HLS Fund (3)
Average Daily Net Assets	Annual Fee

On first $2 billion		0.450%
On next $3 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%


(3)		HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2008. As of January 1, 2009, HL Advisors eliminated the 0.05% management fee waiver. In addition, HL Advisors voluntarily agreed to combine the first and second management fee breakpoints, permanently reducing fees on the first $2 billion of average daily net assets by 0.05%. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $5 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%


	c)	Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and the Hartford Global Growth HLS Fund and Hartford Money Market HLS Fund, HLIC provides accounting services to the Funds and receives monthly compensation on each Fund’s average daily net assets. The Fund’s accounting services fees are accrued daily and paid monthly.

The rates of compensation paid to HLIC are as follows:


Hartford Global Growth HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.014%
On next $5 billion		0.012%
Over $10 billion		0.010%


Hartford Money Market HLS Fund
Average Daily Net Assets	Annual Rate

All assets		0.010%


	d)	Other Related Party Transactions — Certain officers of the Funds are directors and/or officers of HL Advisors, Hartford Investment Management and/or The Hartford or its subsidiaries. For the year ended December 31, 2008, a portion of the Funds’ chief compliance officer’s salary was paid by the Funds in the amount of $12. Hartford Investment Services Company LLC (“HISC”), a wholly owned subsidiary of The Hartford, provides transfer agent services to the Funds. HISC was compensated $10 for providing such services. The Funds accrue these fees daily and pay monthly.

	e)	Operating Expenses — Allocable expenses incurred by the Funds are allocated to each Fund and allocated to classes within a Fund in proportion to the average daily net assets of each Fund and class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund.

	f)	Fees Paid Indirectly — The Funds have entered into agreements with State Street Global Advisors, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Funds’ expenses. In addition, the Funds’ custodian bank has also agreed to reduce its fees when the Funds maintain cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2008, these amounts are included in the Statements of Operations.


	For the						For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2008						December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Global Growth HLS Fund		0.74	%		0.99	%		0.73	%		0.98	%		0.74	%		0.99	%		0.68	%		0.93	%		0.68	%		0.93	%
Hartford Growth Opportunities HLS Fund		0.63			0.88			0.63			0.88			0.63			0.88			0.58			0.84			0.57			0.82
Hartford Money Market HLS Fund		0.42			0.67			0.42			0.67			0.48			0.73			0.49			0.74			0.48			0.73


	Impact from Payment						Impact from Payment						Total Return Excluding
	from Affiliate for						from Affiliate						Payments from (to)
	SEC Settlement						for Unrestricted Transfers						Affiliate
	for the Year Ended						for the Year Ended						for the Year Ended
	December 31, 2006						December 31, 2006						December 31, 2006
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Global Growth HLS Fund		0.31	%		0.32	%		—	%		—	%		13.83	%		13.54	%
Hartford Growth Opportunities HLS Fund		0.07			0.07			0.02			0.02			11.96			11.70

Impact from Payment

from Affiliate for

Total Return Excluding

Unrestricted Transfers

Payments from Affiliate

for the Year Ended

December 31, 2005

Fund

Class IA

Class IB

Class IA

Class IB

Hartford Growth Opportunities HLS Fund

0.11

16.20

15.91


	g)	Distribution Plan for Class IB shares — All Funds with Class IB shares have adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, each Fund is authorized to compensate the Distributor, Hartford Securities Distribution Company, Inc. (a wholly owned, ultimate subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Class IB shares, subject to the Fund Board’s review and approval.


	h)	Payment from Affiliate — The Funds are available for purchase by the separate accounts of different variable universal life policies, variable annuity products, and funding agreements and they are offered directly to certain qualified retirement plans (collectively “Products”). Although existing Products contain transfer restrictions, some Products, particularly older variable annuity products, do not contain restrictions on the frequency of transfers. In addition, as the result of the settlement of litigation against Hartford Life, Inc. (“Hartford Life”) (the issuer of such variable annuity products), the Funds’ ability to restrict transfers by certain owners of older variable annuity products was limited. During 2006, these annuity owners surrendered the older variable annuity contracts that were the subject of prior litigation. In February 2005, Hartford Life agreed with the Board of Directors of the Funds to indemnify the Funds for any material harm caused to the Funds from frequent trading by these contract owners.

The total return in the financial highlights includes the impact of the payment from affiliates. The tables below show the impact of each of the payments from affiliates and what the total return for the years ended December 31, 2006 and 2005, would have been as follows:


	Impact from Payment						Impact from Payment						Total Return Excluding
	from Affiliate for						from Affiliate for						Payments from
	SEC Settlement						Unrestricted Transfers						Affiliate
	for the Year Ended						for the Year Ended						for the Year Ended
	December 31, 2006						December 31, 2006						December 31, 2006
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Global Growth HLS Fund		0.31	%		0.32	%		—	%		—	%		13.83	%		13.54	%
Hartford Growth Opportunities HLS Fund		0.07			0.07			0.02			0.02			11.96			11.70

Impact from Payment

from Affiliate for

Total Return Excluding

Unrestricted Transfers

Payments from Affiliate

for the Year Ended

December 31, 2005

Fund

Class IA

Class IB

Class IA

Class IB

Hartford Growth Opportunities HLS Fund

0.11

16.20

15.91

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


6.	Investment Transactions:


	Cost of Purchases		Sales Proceeds		Cost of
	Excluding		Excluding		Purchases for		Sales Proceeds for
	U.S. Government		U.S. Government		U.S. Government		U.S. Government
	Obligations		Obligations		Obligations		Obligations

Hartford Global Growth HLS Fund	$	708,876	$	860,413	$	—	$	—
Hartford Growth Opportunities HLS Fund		1,986,105		2,047,841		—		—


7.	Line of Credit:


8.	Participation in the U.S. Department of Treasury Guarantee Program for Money Market Funds:

On November 24, 2008, the U.S. Treasury Department extended the Program until April 30, 2009. The Program still continues to cover only the amount an investor held in the Fund as of the close of business on September 19, 2008 or the amount an investor holds if and when a guarantee event occurs, whichever is less. The Board has approved the continued participation of the Fund in the Program. The cost to participate in the Program will continue to be borne by the Fund.


9.	Money Market HLS Fund Support Agreement:

new securities of the issuer or third party and such new securities are or become “Eligible Securities,” as defined under Rule 2a-7 under the 1940 Act, and have a value that is less than the amortized cost of the Note on the date that the Fund receives such new securities.

Subsequent to December 31, 2008, after the receipt of verbal “no-action” assurance provided by the staff of the SEC, the parties to the CSA have entered into an amendment that permits the CSA to continue despite the fact that Hartford Life’s obligations, effective February 9, 2009, no longer qualify as ‘‘First Tier” securities, as defined under Rule 2a-7 under the 1940 Act. The amendment requires that Hartford Life establish an escrow account to support its potential future obligations under the CSA. The minimum balance of the escrow account is $725 (which was set equal to the aggregate unrealized loss on the Notes as of February 23, 2009), and the balance may periodically be adjusted based on the fair value of the Notes and the NAV of the Fund.

During the year ended December 31, 2008, the Fund did not receive a capital contribution under the terms of the CSA.


10.	Industry Classifications:

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Financial Highlights


	*— Selected Per-Share Data (#) —*																					*— Ratios and Supplemental Data —*
								*Net*
								*Realized*																	*Net*										*Ratio of*			*Ratio of*			*Ratio of*
								*and*									*Distributions*								*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*					*Unrealized*			*Total*			*Dividends*			*from*								*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*			*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*					*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*			*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*		*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*			*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*		*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford Global Growth HLS Fund
For the Year Ended December 31, 2008
Class IA	$	22.42	$	0.12		$	—	$	(11.56	)	$	(11.44	)	$	(0.12	)	$	(0.69	)	$	—	$	(0.81	)	$	(12.25	)	$	10.17		(52.46	)%	$	419,183		0.75	%		0.75	%		0.67	%		76	%
Class IB		22.27		0.08			—		(11.47	)		(11.39	)		(0.07	)		(0.69	)		—		(0.76	)		(12.15	)		10.12		(52.58	)		112,226		1.00			1.00			0.42			—
For the Year Ended December 31, 2007
Class IA		20.09		0.03			—		4.84			4.87			(0.01	)		(2.53	)		—		(2.54	)		2.33			22.42		25.05			1,028,843		0.73			0.73			0.13			75
Class IB		20.02		(0.02	)		—		4.81			4.79			(0.01	)		(2.53	)		—		(2.54	)		2.25			22.27		24.74			299,788		0.98			0.98			(0.11	)		—
For the Year Ended December 31, 2006
Class IA		18.74		0.10			0.05		2.48			2.63			(0.16	)		(1.12	)		—		(1.28	)		1.35			20.09		14.14	(d)		942,258		0.76			0.76			0.48			116
Class IB		18.66		0.05			0.05		2.47			2.57			(0.09	)		(1.12	)		—		(1.21	)		1.36			20.02		13.86	(d)		280,283		1.01			1.01			0.23			—
For the Year Ended December 31, 2005
Class IA		18.41		0.14			—		0.33			0.47			(0.14	)		—			—		(0.14	)		0.33			18.74		2.59			935,539		0.77			0.77			0.74			262
Class IB		18.32		0.07			—		0.35			0.42			(0.08	)		—			—		(0.08	)		0.34			18.66		2.33			280,050		1.02			1.02			0.48			—
For the Year Ended December 31, 2004
Class IA		15.53		0.12			—		2.85			2.97			(0.09	)		—			—		(0.09	)		2.88			18.41		19.19			1,004,850		0.78			0.78			0.83			255
Class IB		15.47		0.10			—		2.82			2.92			(0.07	)		—			—		(0.07	)		2.85			18.32		18.89			273,202		1.03			1.03			0.58			—
Hartford Growth Opportunities HLS Fund
For the Year Ended December 31, 2008
Class IA		32.75		0.12			—		(14.65	)		(14.53	)		(0.10	)		(1.07	)		—		(1.17	)		(15.70	)		17.05		(45.66	)		752,898		0.64			0.64			0.45			154
Class IB		32.40		0.06			—		(14.47	)		(14.41	)		(0.03	)		(1.07	)		—		(1.10	)		(15.51	)		16.89		(45.80	)		123,883		0.89			0.89			0.20			—
For the Year Ended December 31, 2007
Class IA		30.13		0.05			—		8.62			8.67			(0.05	)		(6.00	)		—		(6.05	)		2.62			32.75		29.65			1,415,613		0.64			0.64			0.16			135
Class IB		29.90		(0.02	)		—		8.53			8.51			(0.01	)		(6.00	)		—		(6.01	)		2.50			32.40		29.33			277,421		0.89			0.89			(0.09	)		—
For the Year Ended December 31, 2006
Class IA		30.07		0.22			0.03		3.27			3.52			(0.24	)		(3.22	)		—		(3.46	)		0.06			30.13		12.05	(d)		1,103,590		0.65			0.65			0.71			139
Class IB		29.85		0.14			0.03		3.25			3.42			(0.15	)		(3.22	)		—		(3.37	)		0.05			29.90		11.79	(d)		197,797		0.90			0.90			0.46			—
For the Year Ended December 31, 2005
Class IA		27.63		0.09			0.03		4.36			4.48			(0.06	)		(1.98	)		—		(2.04	)		2.44			30.07		16.31	(d)		1,012,774		0.64			0.64			0.33			140
Class IB		27.44		0.01			0.03		4.35			4.39			—			(1.98	)		—		(1.98	)		2.41			29.85		16.02	(d)		179,308		0.89			0.89			0.06			—
For the Year Ended December 31, 2004
Class IA		23.57		0.05			—		4.01			4.06			—			—			—		—			4.06			27.63		17.18			848,674		0.63			0.63			0.23			137
Class IB		23.48		0.03			—		3.93			3.96			—			—			—		—			3.96			27.44		16.89			112,896		0.88			0.88			(0.03	)		—
Hartford Money Market HLS Fund
For the Year Ended December 31, 2008
Class IA		1.00		0.02			—		—			0.02			(0.02	)		—			—		(0.02	)		—			1.00		2.15			4,427,230		0.47			0.42			2.01			N/A
Class IB		1.00		0.02			—		—			0.02			(0.02	)		—			—		(0.02	)		—			1.00		1.89			774,432		0.72			0.67			1.80			—
For the Year Ended December 31, 2007
Class IA		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.95			2,224,124		0.47			0.42			4.83			N/A
Class IB		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.69			452,976		0.72			0.67			4.58			—
For the Year Ended December 31, 2006
Class IA		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.69			1,558,433		0.48			0.48			4.63			N/A
Class IB		1.00		0.04			—		—			0.04			(0.04	)		—			—		(0.04	)		—			1.00		4.43			319,926		0.73			0.73			4.38			—
For the Year Ended December 31, 2005
Class IA		1.00		0.03			—		—			0.03			(0.03	)		—			—		(0.03	)		—			1.00		2.84			1,353,836		0.49			0.49			2.79			N/A
Class IB		1.00		0.03			—		—			0.03			(0.03	)		—			—		(0.03	)		—			1.00		2.58			264,040		0.75			0.75			2.54			—
For the Year Ended December 31, 2004
Class IA		1.00		—			—		—			—			—			—			—		—			—			1.00		0.94			1,294,525		0.48			0.48			0.93			N/A
Class IB		1.00		—			—		—			—			—			—			—		—			—			1.00		0.69			252,808		0.73			0.73			0.68			—


(a)		The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.
(b)		Ratios do not reflect reductions for fees paid indirectly. Please see Note 5(f).
(c)		Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(d)		Total return without the inclusion of the Payment from Affiliate, as noted on the Statement of Operations, can be found in Note 5(h).
#		Information presented relates to a share outstanding throughout the indicated period.

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc. and
Hartford HLS Series Fund II, Inc.

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Hartford Global Growth HLS Fund and Hartford Money Market HLS Fund (two of the thirty-four portfolios constituting the Hartford Series Fund, Inc.) and Hartford Growth Opportunities HLS Fund (one of seven portfolios constituting the Hartford HLS Series Fund II, Inc.) (collectively, the “Funds”) as of December 31, 2008, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds’ internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of December 31, 2008, by correspondence with the custodian, and brokers or by other appropriate auditing procedures where replies from brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the Funds listed above constituting portfolios within Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. at December 31, 2008, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 24, 2009

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Directors and Officers (Unaudited)

Non-Interested Directors

Lynn S. Birdsong (age 62) Director since 2003, Co-Chairman of the Investment Committee

Robert M. Gavin, Jr. (age 68) Director since 2002 (SF) and 1986 (SF2), Chairman of the Board since 2004

Duane E. Hill (age 63) Director since 2001 (SF) and 2002 (SF2), Chairman of the Nominating Committee

Sandra S. Jaffee (age 67) Director since 2005

William P. Johnston (age 64) Director since 2005, Chairman of the Compliance Committee

Phillip O. Peterson (age 64) Director since 2002 (SF) and 2000 (SF2), Chairman of the Audit Committee

Lemma W. Senbet (age 62) Director since 2005

Interested Directors and Officers

Thomas M. Marra (age 50) Director since 2002

Lowndes A. Smith (age 69) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

John C. Walters (age 47) Director since 2008, President and Chief Executive Officer since 2007

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of HL, Inc. (2006-2007), as Co-Chief Operating Officer of Hartford Life Insurance Company, (“Hartford Life”) (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2005). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life and as Executive Vice President of The Hartford. In addition, Mr. Walters serves as a Manager of HL Investment Advisors, LLC (“HL Advisors”).

Other Officers

Robert M. Arena, Jr. (age 40) Vice President since 2006

Mr. Arena serves as Executive Vice President of Hartford Life. Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company (“HASCO”), Chief Executive Officer, Manager and President of Hartford Investment Financial Services, LLC. (“HIFSCO”) and Chief Executive Officer, Manager and President of HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 50) Vice President, Treasurer, and Controller since 1993

Brian Ferrell (age 46) AML Compliance Officer since 2008

Thomas D. Jones, III (age 43) Vice President and Chief Compliance Officer since 2006

Edward P. Macdonald (age 41) Vice President, Secretary and Chief Legal Officer since 2005

Vernon J. Meyer (age 44) Vice President since 2006

Denise A. Settimi (age 48) Vice President since 2005

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2008 through December 31, 2008.

Actual Expenses

Hypothetical Example for Comparison Purposes

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/366 (to reflect the one-half year period).


					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2008		Account		Account		June 30, 2008		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2008		December 31, 2008		December 31, 2008		June 30, 2008		December 31, 2008		December 31, 2008		ratio			1/2 year		full year
Hartford Global Growth HLS Fund
Class IA	$	1,000.00	$	552.16	$	2.92	$	1,000.00	$	1,021.36	$	3.81		0.75	%		184		366
Class IB	$	1,000.00	$	551.46	$	3.89	$	1,000.00	$	1,020.10	$	5.07		1.00	%		184		366
Hartford Growth Opportunities HLS Fund
Class IA	$	1,000.00	$	611.41	$	2.51	$	1,000.00	$	1,022.01	$	3.15		0.62	%		184		366
Class IB	$	1,000.00	$	610.64	$	3.52	$	1,000.00	$	1,020.76	$	4.41		0.87	%		184		366
Hartford Money Market HLS Fund
Class IA	$	1,000.00	$	1,007.46	$	2.16	$	1,000.00	$	1,022.97	$	2.18		0.43	%		184		366
Class IB	$	1,000.00	$	1,006.20	$	3.42	$	1,000.00	$	1,021.71	$	3.45		0.68	%		184		366

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)

At a meeting held on August 5-6, 2008, the Boards of Directors (the “Board”) of the Funds, including each of the Independent Directors, unanimously voted to approve the investment management agreement for each Fund with an agreement up for renewal with HL Investment Advisors, LLC (“HL Advisors”), and the investment sub-advisory agreements between HL Advisors and each Fund’s respective sub-adviser(s) (“Sub-advisers,” and together with HL Advisors, “Advisers”) — Hartford Investment Management Company (“Hartford Investment Management”) and Wellington Management Company, LLP (collectively, the “Agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the Advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about each Fund and the related Agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 24-25, 2008 and August 5-6, 2008. In considering the approval of the Agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Funds by the Advisers, and their affiliates.

Nature, Extent And Quality Of Services

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Funds by HL Advisors and each of the Sub-advisers.

Performance of the Funds, HL Advisors, and the Sub-Advisers

(¹ Hartford Growth Opportunities HLS Fund has entered into an investment management agreement with HL Advisors under which HL Advisors provides investment advisory and certain administrative services to the Fund. Hartford Global Growth HLS Fund and Hartford Money Market HLS Fund have entered into investment management agreements with HL Advisors for investment advisory services, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to those Funds. For those Funds that have separate management and administrative agreements, the Board considered the fees payable under both agreements in the aggregate.

especially for the annual contract review. The Board also considered the analysis provided by the Consultant relating to each Fund’s performance track record. The Board considered HL Advisors’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Funds at periodic meetings throughout the year.

Costs of the Services and Profitability

Based on these considerations, the Board concluded that the profits anticipated to be realized by the Advisers and their affiliates from their relationships with the Funds would not be excessive.

Comparison of Fees and Expenses


	•	Permanent breakpoint reductions:


	•	Money Market HLS Fund: HL Advisors agreed to a permanent reduction in the fee rate on the first $2 billion of assets by 0.05%, which reduced the overall contractual management fees (on a weighted basis) by 0.028%. In addition, HL Advisors eliminated its 0.05% voluntary management fee waiver.

Economies of Scale

The Board requested and considered information regarding the Advisers’ realization of economies of scale with respect to the Funds, and whether the fee levels reflect these economies of scale for the benefit of each Fund’s investors. With respect to HL Advisors, the Board considered representations from HL Advisors that it is difficult to anticipate whether and the extent to which economies may be realized by HL Advisors as assets grow over time. The Board reviewed the breakpoints in the advisory fee schedule for each Fund, which reduces fees as Fund assets grow over time. The Board recognized that Funds with assets beyond the last breakpoint level continue to benefit from economies of scale, because additional assets are charged the lowest breakpoint fee, resulting in lower overall effective management fee rates. The Board considered that certain Funds may achieve some economies as certain fixed expenses are spread over a larger asset base, noting that there is no precise way to measure such economies, and that certain expenses do not necessarily decrease as assets increase. The Board also considered that expense limitations and fee waivers that reduce Fund expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders, and that a schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale.

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) — (continued)

Other Benefits

* * * *

Hartford Money Market HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)
		Basic Materials — 3.0%
		Export Development Canada
$	4,250	0.25%, 03/10/2009	$	4,248
	19,750	0.55%, 03/05/2009		19,731
	29,000	1.12%, 05/07/2009		28,886
	25,750	1.69%, 03/12/2009		25,666
		Praxair, Inc.
	25,750	0.65%, 04/01/2009		25,708
	28,250	0.70%, 04/03/2009		28,200
	24,750	0.80%, 03/09/2009		24,713

				157,152

		Consumer Cyclical — 0.8%
		Wal-Mart Stores, Inc.
	42,750	0.22%, 03/03/2009		42,734
		Consumer Staples — 3.1%
		Coca Cola Co.
	9,000	0.05%, 01/05/2009		9,000
	51,500	1.30%, 01/13/2009		51,478
		Colgate-Palmolive Co.
	20,624	0.15%, 02/06/2009		20,621
		Procter & Gamble Co.
	25,500	0.25%, 01/22/2009 (I)		25,496
	20,250	0.30%, 03/30/2009 (I)		20,235
	32,500	1.10%, 01/23/2009 (I)		32,478

				159,308

		Energy — 1.4%
		ConocoPhillips
	21,250	1.25%, 01/30/2009		21,242
	15,250	1.75%, 01/16/2009 (I)		15,239
	25,750	1.85%, 01/15/2009 (I)		25,731
	13,000	1.95%, 01/06/2009 (I)		12,997

				75,209

		Finance — 47.8%
		American Honda Finance Corp.
	25,750	2.00%, 09/18/2009 (I)(L)		25,750
	27,250	4.18%, 04/02/2009 (I)(L)		27,250
		Australia & New Zealand Banking Group Ltd.
	26,250	3.21%, 10/02/2009 (I)(L)(BB)		26,250
		Bank of America Corp.
	21,500	1.55%, 01/15/2009		21,487
		Bank of Nova Scotia
	25,250	4.57%, 08/10/2009 (I)(L)		25,250
		BNP Paribas
	23,500	1.11%, 02/17/2009		23,466
		BNP Paribas NY Branch
	28,750	2.01%, 01/26/2009		28,750
		Caterpillar Financial Services Corp.
	35,000	2.15%, 05/15/2009 (L)		34,991
		Citigroup Funding, Inc.
	52,250	0.23%, 03/06/2009		52,229
	53,250	0.25%, 02/04/2009		53,237
		Danske Corp.
	24,000	3.03%, 03/03/2009		23,878
		European Investment Bank
	77,250	0.47%, 03/12/2009		77,179
	34,500	1.53%, 02/17/2009		34,432
	45,000	1.67%, 03/03/2009		44,901
		Federal Home Loan Bank
	25,750	0.07%, 01/12/2009		25,750
	52,250	0.10%, 02/04/2009		52,245
	52,250	0.14%, 03/10/2009		52,236
	18,000	0.15%, 02/10/2009 — 02/27/2009		17,996
	45,450	0.20%, 04/13/2009 — 04/14/2009		45,424
	52,250	0.21%, 03/20/2009		52,226
	25,750	0.75%, 02/17/2009		25,725
	22,900	2.01%, 05/20/2009 (L)		22,898
	51,120	2.78%, 01/05/2009		51,111
	21,250	3.66%, 01/23/2009 (L)		21,251
		Federal Home Loan Mortgage Corp.
	40,250	0.05%, 02/02/2009		40,248
	21,200	0.10%, 01/05/2009 — 01/07/2009		21,200
	31,750	0.20%, 04/17/2009		31,731
	52,250	0.25%, 03/16/2009		52,223
	51,250	0.55%, 02/09/2009		51,219
	28,500	0.71%, 02/04/2009 (M)		28,481
	34,000	1.78%, 04/07/2009 (L)		34,000
	29,000	2.36%, 02/24/2009 (M)		28,901
	44,750	2.64%, 01/09/2009		44,724
	35,640	5.72%, 03/15/2009		35,844
		Federal National Mortgage Association
	52,250	0.10%, 02/02/2009 (M)		52,245
	64,250	0.15%, 03/05/2009 — 03/18/2009		64,230
	77,000	0.15%, 02/23/2009 (M)		76,983
	17,500	0.20%, 03/11/2009		17,493
	40,250	0.61%, 01/20/2009 (M)		40,237
	55,600	0.80%, 02/17/2009		55,543
	37,600	2.22%, 01/05/2009 (M)		37,591
	22,000	2.77%, 02/11/2009		21,931
		General Electric Capital Corp.
	51,350	0.25%, 03/30/2009		51,319
	19,400	0.50%, 06/24/2009 (L)(BB)		19,400
		J.P. Morgan Chase Funding Corp.
	25,750	0.10%, 01/20/2009 (I)		25,749
		John Deere Capital Corp.
	22,300	2.24%, 09/01/2009 (L)		22,288
		JP Morgan Chase & Co.
	26,500	1.50%, 01/26/2009		26,473
	26,250	2.73%, 01/05/2009		26,242
		Kreditanstalt fuer Wiederaufbau
	22,500	0.15%, 02/17/2009 (I)		22,496
	52,250	0.48%, 02/10/2009		52,223
	31,250	0.80%, 01/21/2009 (I)		31,236
	49,750	0.94%, 01/20/2009 (I)		49,743
		Nordea Bank Finland NY
	24,500	1.86%, 04/09/2009 (L)		24,470
		Nordea North America
	29,000	2.87%, 01/12/2009		28,975
		Queensland Treasury Corp.
	28,000	0.86%, 03/16/2009		27,952
	38,700	1.08%, 01/28/2009		38,670
	38,700	1.33%, 02/27/2009		38,620
		Rabobank USA
	29,000	0.45%, 02/19/2009		28,982
	25,800	1.24%, 01/20/2009		25,783
		Royal Bank of Canada
	21,250	1.60%, 10/15/2009 (I)(L)		21,250
		Royal Bank of Canada NY
	31,500	0.34%, 02/17/2009		31,500
		Royal Bank of Scotland Group plc
	25,750	2.40%, 10/09/2009 (I)(L)(BB)		25,750
		State Street Corp.
	51,500	0.45%, 01/08/2009		51,495
		Svenska Handelsbanken Ab
	15,400	4.42%, 05/06/2009 (I)(L)(BB)		15,400
		Toronto-Dominion Bank NY
	25,750	1.80%, 01/20/2009		25,750
		Toronto-Dominion Holdings
	26,500	0.20%, 01/16/2009		26,498

The accompanying notes are an integral part of these financial statements.

Hartford Money Market HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)

		Finance — (continued)
		Toyota Motor Credit Corp.
$	38,000	2.76%, 01/30/2009			$	37,916
		Wachovia Bank NA
	34,000	4.61%, 08/04/2009 (L)(BB)				34,000
		Wells Fargo & Co.
	22,000	1.03%, 06/18/2009 (L)				22,000
		Westpac Banking Corp.
	26,500	1.02%, 03/17/2009 (I)				26,444
	25,750	3.07%, 01/28/2009 (L)				25,750

						2,485,110

		Foreign Governments — 5.0%
		British Columbia (Province Of)
	22,250	0.20%, 03/18/2009				22,240
	27,300	1.15%, 03/02/2009				27,248
	21,500	1.30%, 02/23/2009				21,459
	31,400	1.51%, 05/26/2009 — 05/27/2009				31,210
		Ontario (Province of)
	28,750	1.28%, 02/02/2009				28,717
	25,800	1.34%, 01/26/2009				25,776
	25,800	1.49%, 02/24/2009				25,742
		Quebec (Province of)
	41,000	1.09%, 01/16/2009 — 02/02/2009				40,971
	38,500	1.19%, 03/02/2009				38,424

						261,787



Shares

		Investment Pools and Funds — 5.2%
		JP Morgan U.S. Government Money
	104,000	Market Fund				104,000
		State Street Bank U.S. Government
	60,000	Money Market Fund				60,000
		Wells Fargo Advantage Government
	104,000	Money Market Fund				104,000

						268,000



Principal
Amount

		Repurchase Agreements — 6.0%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $171,248, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $172,939)
$	171,248	0.01% dated 12/31/2008				171,248
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $113,522, collateralized by U.S. Treasury Note 3.13%, 2013, value of $115,451)
	113,522	0.03% dated 12/31/2008				113,522
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $26,400, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $26,425)
	26,400	0.02% dated 12/31/2008				26,400

						311,170

		Services — 1.0%
		Walt Disney Co.
	38,000	0.35%, 03/10/2009				37,975
	13,750	1.10%, 01/07/2009				13,747

						51,722

		Technology — 3.0%
		AT&T, Inc.
	22,250	1.00%, 02/04/2009 (I)				22,229
	25,750	1.05%, 01/20/2009				25,744
	31,250	1.15%, 01/29/2009				31,222
		Microsoft Corp.
	25,750	0.15%, 02/19/2009				25,745
	53,000	0.25%, 01/05/2009				52,998

						157,938

		U.S. Treasury Bills — 22.3%
	171,000	0.15%, 04/29/2009 (M)				170,916
	258,000	0.31%, 02/05/2009 (M)				257,923
	300,000	0.36%, 02/12/2009 (M)				299,880
	172,000	0.41%, 03/05/2009 (M)				171,879
	258,000	0.43%, 01/22/2009 (M)				257,938

						1,158,536

		Utilities — 1.5%
		Florida Power & Light Co.
	78,750	0.25%, 01/09/2009				78,746
		Capital Support Agreement — 0.0%
	—	Hartford Life, Inc. Capital Support Agreement (BB)				—

		Total investments (cost $5,207,412) (C)	100.1	%	$	5,207,412
		Other assets and liabilities	(0.1	)%		(5,750	)

		Total net assets	100.0	%	$	5,201,662


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. The rates presented in this Schedule of Investments are yields, unless otherwise noted. Market value of investments in foreign securities represents 14.69% of total net assets at December 31, 2008.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		Also represents cost for tax purposes.

(BB)		The Fund has entered into a Capital Support Agreement with Hartford Life, Inc. which provides that Hartford Life, Inc. will contribute capital to the Fund, up to a specified maximum amount, in the event that the Fund realizes a loss on any of these securities and such realized loss causes the Fund’s net asset value as calculated using fair values to drop below $0.9950. See footnote 10 for additional information.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $476,973, which represents 9.17% of total net assets.

(L)		Variable rate securities; the yield reported is the rate in effect at December 31, 2008.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Statements of Changes in Net Assets

(000’s Omitted)


	Hartford
	Money Market
	HLS Fund
				For the
	For the			Year Ended
	Year Ended December 31, 2008			December 31, 2007
Operations:
Net investment income	$	78,080		$	108,541
Net realized gain (loss) on investments		(13,032	)		52

Net increase in net assets resulting from operations		65,048			108,593


Distributions to Shareholders:
From net investment income
Class IA		(65,065	)		(90,770	)
Class IB		(11,060	)		(17,771	)
From net realized gain on investments
Class IA		—			(43	)
Class IB		—			(9	)

Total distributions		(76,125	)		(108,593	)


Capital Share Transactions:
Class IA
Sold		4,105,607			2,394,176
Issued on reinvestment of distributions		64,851			90,667
Redeemed		(1,958,058	)		(1,819,153	)

Total capital share transactions		2,212,400			665,690

Class IB
Sold		765,243			503,545
Issued on reinvestment of distributions		11,013			17,750
Redeemed		(453,017	)		(388,244	)

Total capital share transactions		323,239			133,051

Net increase from capital share transactions		2,535,639			798,741

Net increase in net assets		2,524,562			798,741

Net Assets:
Beginning of period		2,677,100			1,878,359

End of period	$	5,201,662		$	2,677,100

Accumulated undistributed net investment income	$	1,955		$	—


Shares:
Class IA
Sold		4,105,606			2,394,177
Issued on reinvestment of distributions		64,851			90,667
Redeemed		(1,958,057	)		(1,819,153	)

Total share activity		2,212,400			665,691

Class IB
Sold		765,243			503,545
Issued on reinvestment of distributions		11,013			17,750
Redeemed		(453,017	)		(388,245	)

Total share activity		323,239			133,050

The accompanying notes are an integral part of these financial statements.

Hartford Money Market HLS Fund

Notes to Financial Statements

December 31, 2008

($000’s omitted)


1.	Organization:

Hartford Money Market HLS Fund (the “Fund”) serves as an underlying investment option for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company and its affiliates (“HLIC”), and certain qualified retirement plans. The Fund may also serve as an underlying investment option for certain variable annuity and variable life insurance separate accounts of other insurance companies. Owners of variable annuity contracts and policyholders of variable life insurance contracts may choose the funds permitted in the variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the funds permitted by their plans.

Hartford Series Fund, Inc. (the “Company”) is an open-end management investment company comprised of thirty-four portfolios (each a “Fund” or together the “Funds”) (the Fund is the only one included in these financials). The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940 as amended (“1940 Act”), as a diversified open-end management investment company.

The Fund is divided into Class IA and IB shares. Each class is offered at the per share net asset value (“NAV”) without a sales charge and is subject to the same expenses, except that the Class IB shares are subject to distribution fees charged pursuant to Distribution and Service Plans. These Distribution and Service Plans have been adopted in accordance with Rule 12b-1 of the 1940 Act.


2.	Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).


	a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.


	b)	Security Valuation — The Fund’s investments are valued using the amortized cost method, which approximates market value. Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.

	c)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.

	d)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2008.

	e)	Reverse Repurchase Agreements — The Fund may also enter into reverse repurchase agreements. Reverse repurchase agreements involve sales by the Fund of portfolio assets concurrently with an agreement by the Fund to repurchase the same assets at a later date at a fixed price. Reverse repurchase agreements carry the risk that the market value of the securities which the Fund is obligated to repurchase may decline below the repurchase price. A reverse repurchase agreement is viewed as a collateralized borrowing by the Fund. Borrowing magnifies the potential for gain or loss on the portfolio securities of the Fund and, therefore, increases the possibility of a fluctuation in the Fund’s NAV. Reverse Repurchase Agreements are valued at proceeds plus accrued interest. There were no outstanding reverse repurchase agreements as of December 31, 2008.


	f)	Fund Share Valuation and Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of the Fund’s shares is determined as of the close of each business day of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time). The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

The Fund seeks to maintain a stable NAV of $1.00 by declaring a daily dividend from net investment income, including net short-term capital gains and losses, and by valuing its investments using the amortized cost method, which approximates fair value. Dividends are declared daily and distributed monthly.


	g)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 10% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investments in them may have an adverse impact on the NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors. The Fund as shown in the Schedule of Investments had restricted securities as of December 31, 2008.

Hartford Money Market HLS Fund

Notes to Financial Statements — (continued)

December 31, 2008

($000’s omitted)


	h)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, lower rated bonds have higher credit risk. High yield bond prices can fall on bad news about the economy, an industry or a company. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.


	i)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.


	j)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective January 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.

Various inputs are used in determining the value of the Fund’s investment. These inputs are summarized, per FAS 157, into three broad hierarchy levels. This hierarchy is based on whether the valuation inputs are observable or unobservable. These levels are:


	•	Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, exchange traded funds (“ETF’s”), repurchase agreements and rights and warrants.

	•	Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and which are valued using third party pricing services and foreign equities whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

	•	Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and requires significant management judgment or estimation. This category includes broker-quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than that presented above, as individual circumstances dictate.


	k)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.


3.	Federal Income Taxes:


	a)	Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (IRC) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

The tax character of distributions paid by the Fund (as adjusted for dividends payable) from ordinary income were $76,078 and $108,593 for the years ended December 31, 2008 and 2007, respectively.

As of December 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis was undistributed ordinary income of $2,002 accumulated capital and other losses of $(13,032) and total accumulated deficit of $(11,030).


	b)	Capital Loss Carryforward:

At December 31, 2008 (tax-year-end), the Fund had a capital loss carryforward for U.S. federal income tax purposes of approximately:


Fund	2009		2010		2011		2012		2013		2014		2015		2016		Total
Hartford Money Market HLS Fund	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	13,032	$	13,032


	c)	Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the Financial Accounting Standards Board (FASB) released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended December 31, 2005 — 2008) and has determined there is no impact to the Fund’s financial statements.


4.	Expenses:


	a)	Investment Management and Advisory Agreements — HL Investment Advisors, LLC (HL Advisors) an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Fund pursuant to an Investment Management Agreement with Hartford Series Fund, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for the Fund. In addition, HL Advisors provides administrative personnel, services, equipment and facilities and office space for proper operation of the Fund.

In addition, HL Advisors has contracted with Hartford Investment Management for the provision of day-to-day investment management services to the Fund in accordance with the Fund’s investment objective and policies.

The Fund pays a fee to HL Advisors, a portion of which is used to compensate Hartford Investment Management.


	b)	Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the Fund, HLIC provides administrative services to the Fund and receives monthly compensation at the annual rate of 0.20% of the Fund’s average daily net assets. The Fund assumes and pays certain other expenses (including, but not limited to, accounting, custodian, state taxes and Directors’ fees).

The schedule below reflects the rates of compensation paid to HL Advisors for investment advisory services and to HLIC for administrative services rendered during the year ended December 31, 2008; the rates are accrued daily and paid monthly.


Hartford Money Market HLS Fund (1)
Average Daily Net Assets	Annual Rate

On first $2 billion		0.45%
On next $3 billion		0.40%
On next $5 billion		0.38%
Over $10 billion		0.37%
(1) HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2008. As of January 1, 2009, HL Advisors voluntarily agreed to combine the first and second management fee breakpoints, permanently reducing fees on the first $2 billion of average daily net assets by 0.05%. The new schedule is as follows:


Hartford Money Market HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.40%
On next $5 billion		0.38%
Over $10 billion		0.37%


	c)	Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation of 0.010% of the Fund’s average daily net assets. This rate was effective January 1, 2008. The Fund’s accounting services fees are accrued daily and paid monthly.

	d)	Other Related Party Transactions — Certain officers of the Fund are directors and/or officers of HL Advisors, Hartford Investment Management and/or The Hartford or its subsidiaries. For the year ended December 31, 2008, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $7. Hartford Investor Services Company LLC (“HISC”), a wholly owned subsidiary of The Hartford, provides transfer agent services to the Fund. HISC was compensated $2 for providing such services. These fees are accrued daily and paid monthly.

	e)	Operating Expenses — Allocable expenses incurred by the Fund are charged to the Fund and allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within the Fund.

	f)	Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Advisors, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2008, these amounts are included in the Statement of Operations.

The ratio of expenses to average net assets in the financial highlights excludes the reduction in expenses related to fees paid indirectly. Had the fees paid indirectly been included, the annualized expense ratios for the years listed below, would have been as follows:


	For the						For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2008						December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Money Market HLS Fund		0.42	%		0.67	%		0.42	%		0.67	%		0.48	%		0.73	%		0.49	%		0.74	%		0.48	%		0.73	%


	g)	Distribution Plan for Class IB shares — The Fund has adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, the Fund is authorized to compensate the Distributor, Hartford Securities Distribution Company, Inc. (a wholly

Hartford Money Market HLS Fund

Notes to Financial Statements — (continued)

December 31, 2008

($000’s omitted)


		owned, ultimate subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Class IB shares, subject to the Fund Board’s review and approval.

The Distribution Plan provides that the Fund may pay annually up to 0.25% of the average daily net assets of the Fund attributable to its Class IB shares for activities primarily intended to result in the sale of Class IB shares. The Board has the authority to suspend or reduce these payments at any point in time. Under the terms of the Distribution Plan and the principal underwriting agreement, the Fund is authorized to make payments monthly to the Distributor which may be used to pay or reimburse entities providing distribution and shareholder servicing with respect to the Class IB shares for such entities’ fees or expenses incurred or paid in that regard. The Fund’s distribution fees are accrued daily and paid monthly.


5.	Investment Transactions:

For the year ended December 31, 2008, the Fund’s cost of purchases and sales of investment securities were to $72,454,406 and $69,917,848, respectively.


6.	Participation in the U.S. Department of Treasury Guarantee Program for Money Market Funds:

Subject to certain conditions and limitations, the Program provides that investors in the Fund will receive $1.00 for each Fund share held as of the close of business on September 19, 2008 in the event that the Fund closes at a NAV below $1.00 per share (a “guarantee event”). The Program only covers the amount an investor held in the Fund as of the close of business on September 19, 2008 or the amount an investor holds if and when a guarantee event occurs, whichever is less. Participation in the Program is expected to provide direct benefits to current shareholders as of September 19, 2008 and indirect benefits to all current shareholders by supporting the stability of the Fund’s asset level.


7.	Money Market HLS Fund Support Agreement:

Hartford Series Fund, Inc.

Financial Highlights


	*— Selected Per-Share Data (#) —*																	*— Ratios and Supplemental Data —*
							*Net*
							*Realized*														*Net*									*Ratio of*			*Ratio of*			*Ratio of*
							*and*							*Distributions*							*Increase*									*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*				*Unrealized*		*Total*		*Dividends*			*from*							*(Decrease)*		*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*		*Payments*		*Gain*		*from*		*from Net*			*Realized*		*Distributions*					*in Net*		*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*		*from (to)*		*(Loss) on*		*Investment*		*Investment*			*Capital*		*from*		*Total*			*Asset*		*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*		*Affiliate*		*Investments*		*Operations*		*Income*			*Gains*		*Capital*		*Distributions*			*Value*		*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate*
Hartford Money Market HLS Fund
For the Year Ended December 31, 2008
Class IA	$	1.00	$	0.02	$	—	$	—	$	0.02	$	(0.02	)	$	—	$	—	$	(0.02	)	$	—	$	1.00		2.15	%	$	4,427,230		0.47	%		0.42	%		2.01	%		N/A
Class IB		1.00		0.02		—		—		0.02		(0.02	)		—		—		(0.02	)		—		1.00		1.89			774,432		0.72			0.67			1.80			—
For the Year Ended December 31, 2007
Class IA		1.00		0.05		—		—		0.05		(0.05	)		—		—		(0.05	)		—		1.00		4.95			2,224,124		0.47			0.42			4.83			N/A
Class IB		1.00		0.05		—		—		0.05		(0.05	)		—		—		(0.05	)		—		1.00		4.69			452,976		0.72			0.67			4.58			—
For the Year Ended December 31, 2006
Class IA		1.00		0.05		—		—		0.05		(0.05	)		—		—		(0.05	)		—		1.00		4.69			1,558,433		0.48			0.48			4.63			N/A
Class IB		1.00		0.04		—		—		0.04		(0.04	)		—		—		(0.04	)		—		1.00		4.43			319,926		0.73			0.73			4.38			—
For the Year Ended December 31, 2005
Class IA		1.00		0.03		—		—		0.03		(0.03	)		—		—		(0.03	)		—		1.00		2.84			1,353,836		0.49			0.49			2.79			N/A
Class IB		1.00		0.03		—		—		0.03		(0.03	)		—		—		(0.03	)		—		1.00		2.58			264,040		0.75			0.75			2.54			—
For the Year Ended December 31, 2004
Class IA		1.00		—		—		—		—		—			—		—		—			—		1.00		0.94			1,294,525		0.48			0.48			0.93			N/A
Class IB		1.00		—		—		—		—		—			—		—		—			—		1.00		0.69			252,808		0.73			0.73			0.68			—


(a)		The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.
(b)		Ratios do not reflect reductions for fees paid indirectly. Please see Note 4(f).
#		Information presented relates to a share outstanding throughout the indicated period.

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc.

We have audited the accompanying statements of assets and liabilities, including the schedule of investments, of Hartford Money Market HLS Fund (the “Fund”) (one of the thirty-four portfolios constituting the Hartford Series Fund, Inc.) as of December 31, 2008, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Fund’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of December 31, 2008, by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Hartford Money Market HLS Fund of the Hartford Series Fund, Inc. at December 31, 2008, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

Minneapolis, Minnesota

February 24, 2009

Hartford Series Fund, Inc.

Directors and Officers (Unaudited)

The Board of Directors appoints officers who are responsible for the day-to-day operations of the Fund and who execute policies formulated by the Directors. Each director serves until his or her death, resignation, or retirement or until the next annual meeting of shareholders is held or until his or her successor is elected and qualifies.

Directors and officers who are employed by or who have a financial interest in The Hartford are considered “interested” persons of the Fund pursuant to the Investment Company Act of 1940, as amended. Each officer and three of the Fund’s directors, as noted in the chart below, are “interested” persons of the Fund. Each director serves as a director for The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford Income Shares Fund, Inc., Hartford Series Fund, Inc., and Hartford HLS Series Fund II, Inc., which collectively consist of 104 funds. Correspondence may be sent to directors and officers c/o Hartford Mutual Funds, P.O. Box 2999, Hartford, Connecticut, 06104-2999, except that correspondence to Ms. Fagely and Ms. Settimi may be sent to 500 Bielenberg Drive, Woodbury, Minnesota 55125.

The table below sets forth, for each director and officer, his or her name, age, current position with the Fund and date first elected or appointed to Hartford Series Fund, Inc. (“SF”), principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Information on the aggregate remuneration paid to the directors by the Fund can be found in the Statements of Operations herein. The Fund pays a portion of the Chief Compliance Officer’s compensation, but otherwise do not pay salaries or compensation to any of their officers or directors who are employed by The Hartford.

Non-Interested Directors

Lynn S. Birdsong (age 62) Director since 2003, Co-Chairman of the Investment Committee

Robert M. Gavin, Jr. (age 68) Director since 2002 (SF), Chairman of the Board since 2004

Duane E. Hill (age 63) Director since 2001 (SF), Chairman of the Nominating Committee

Sandra S. Jaffee (age 67) Director since 2005

William P. Johnston (age 64) Director since 2005, Chairman of the Compliance Committee

Phillip O. Peterson (age 64) Director since 2002 (SF), Chairman of the Audit Committee

Lemma W. Senbet (age 62) Director since 2005

Interested Directors and Officers

Thomas M. Marra (age 50) Director since 2002

Lowndes A. Smith (age 69) Director since 1996 (SF), Co-Chairman of the Investment Committee

John C. Walters (age 47) Director since 2008, President and Chief Executive Officer since 2007

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc. Mr. Walters previously served as President of the U.S. Wealth Management Division of HL, Inc., (2006-2007), as Co-Chief Operating Officer of Hartford Life Insurance Company (“Hartford Life”) (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2005). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life and as Executive Vice President of The Hartford. In addition, Mr. Walters serves as a Manager of HL Investment Advisors, LLC (“HL Advisors”).

Other Officers

Robert M. Arena, Jr. (age 40) Vice President since 2006

Mr. Arena serves as Executive Vice President of Hartford Life. Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company (“HASCO”), Chief Executive Officer, Manager and President of Hartford Investment Financial Services, LLC (“HIFSCO”) and Chief Executive Officer, Manager and President of HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 50) Vice President, Treasurer, and Controller since 1993

Brian Ferrell (age 46) AML Compliance Officer since 2008

Thomas D. Jones, III (age 43) Vice President and Chief Compliance Officer since 2006

Edward P. Macdonald (age 41) Vice President, Secretary and Chief Legal Officer since 2005

Vernon J. Meyer (age 44) Vice President since 2006

Denise A. Settimi (age 48) Vice President since 2005

Hartford Series Fund, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2008 through December 31, 2008.

Actual Expenses

Hypothetical Example for Comparison Purposes

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/366 (to reflect the one-half year period).


					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2008		Account		Account		June 30, 2008		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2008		December 31, 2008		December 31, 2008		June 30, 2008		December 31, 2008		December 31, 2008		ratio			1/2 year		full year
Hartford Money Market HLS Fund
Class IA	$	1,000.00	$	1,007.46	$	2.16	$	1,000.00	$	1,022.97	$	2.18		0.43	%		184		366
Class IB	$	1,000.00	$	1,006.20	$	3.42	$	1,000.00	$	1,021.71	$	3.45		0.68	%		184		366

Hartford Money Market HLS Fund

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)

At a meeting held on August 5-6, 2008, the Board of Directors (the “Board”) of the Fund, including each of the Independent Directors, unanimously voted to approve the investment management agreement for the Fund with HL Investment Advisors, LLC (“HL Advisors”), and the investment sub-advisory agreement between HL Advisors and the Fund’s sub-adviser (“Sub-adviser” and together with HL Advisors (“Advisers”) — Hartford Investment Management Company (“Hartford Investment Management”) (collectively, the “Agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the Advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about the Fund and the related Agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 24-25, 2008 and August 5-6, 2008. In considering the approval of the Agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services and the other services provided to the Fund by the Advisers, and their affiliates.

In considering the renewal of the Agreements, the Independent Directors were advised by independent legal counsel. In addition, the Independent Directors engaged two service providers to assist them with evaluating the Agreements with respect to the Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how the Fund’s management fees, administrative fees, overall expense ratios, and investment performance compared to those of mutual funds with similar investment objectives in various peer groups (“Peer Funds”). The Independent Directors also engaged an independent financial services consulting firm (the “Consultant”) to assist them in evaluating the Fund’s management fees, sub-advisory fees, administrative fees, overall expense ratios and investment performance.

The Board considered the Agreements for the Fund at the June and August meetings. In determining to continue the Agreements for the Fund, the Board determined that the proposed management fee structure for the Fund was fair and reasonable and that continuation of the Agreements was in the best interests of the Fund and its shareholders. In determining to renew the Agreements, the Board considered the following categories of material factors, among others, relating to the Agreements.

Nature, Extent And Quality Of Services

The Board requested and considered information concerning the nature, extent, and quality of the services provided to the Fund by the Advisers. The Board considered, among other things, the terms of the Agreements, the range of services provided, and the Advisers’ organizational structure, systems and personnel.¹( The Board received information on the experience of senior management and relevant investment and other personnel of the Advisers, and the adequacy of the time and attention devoted by them to the Fund. The Board considered each Adviser’s reputation and overall financial strength, as well as its commitment to expand the resources devoted to supporting Fund operations and to continuously evaluate whether additional support is needed, particularly in light of increased regulatory requirements and other developments. In addition, the Board considered the quality of each Adviser’s communications with the Board, and responsiveness to Board inquiries.

The Board also requested and reviewed information on each Adviser’s compliance policies and procedures, compliance history, and a report from the Fund’s Chief Compliance Officer on each Adviser’s compliance with applicable laws and regulations, including responses to regulatory developments and compliance issues raised by regulators. In doing so, the Board noted the Advisers’ support of the Fund’s compliance control structure, particularly the resources devoted by the Advisers in support of the Fund’s obligations pursuant to Rule 38a-1 under the 1940 Act.

With respect to HL Advisors, the Board noted that under the Agreements, HL Advisors is responsible for the management of the Fund, including overseeing fund operations and service providers, and Hartford Life provides administrative services to the Fund as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and, Hartford Life, with respect to each of these services. The Board considered that HL Advisors or its affiliates are responsible for providing the Fund’s officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Fund and its shareholders by HL Advisors’ affiliates.

With respect to the Sub-adviser, who provides day-to-day portfolio management services, the Board considered the quality of the Sub-adviser’s investment personnel, its ability to attract and retain qualified investment professionals, its investment philosophy and process, investment research capabilities and resources, performance record, trade execution capabilities and experience.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Fund by HL Advisors and the Sub-adviser.

Performance of the Fund, HL Advisors, and the Sub-Advisers

The Board considered the investment performance of the Fund. In this regard, the Board considered information and materials provided to the Board from HL Advisors and Lipper comparing the Fund’s short-term and long-term investment performance over various periods of time with appropriate benchmark indices, and with a performance universe of funds selected by Lipper. This information included performance reports (provided by Lipper and HL Advisors) and discussions with portfolio managers and other representatives of the Sub-adviser at Board meetings throughout the year, as well as the information provided especially for the annual contract review. The Board also considered the analysis provided by the Consultant relating to the Fund’s performance track record. The Board considered HL Advisors’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of the Fund at periodic meetings throughout the year.

(¹ The Fund has entered into an investment management agreement with HL Advisors under which HL Advisors provides investment advisory services to the Fund, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to the Fund. The Board considered the fees payable under both agreements in the aggregate.

group or benchmark, and the causes for such underperformance. In evaluating the performance of the Fund, the Board also considered whether the Fund had been in operation for a sufficient time period to establish a meaningful performance track record.

Based on these considerations, the Board concluded that the Fund’s performance over time has been satisfactory, and that it had continued confidence in HL Advisors’ and the Sub-adviser’s overall capabilities to manage the Fund.

Costs of the Services and Profitability

The Board reviewed information regarding HL Advisors’ cost to provide investment management and related services to the Fund and HL Advisors’ profitability, both overall and for the Fund, on a pre-tax basis without regard to distribution expenses. The Board also requested and reviewed information about the profitability to HL Advisors and its affiliates from all services provided to the Fund and all aspects of their relationship with the Fund.

The Board considered the costs and profitability information for HL Advisors and Hartford Investment Management in the aggregate.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the Advisers and their affiliates from their relationships with the Fund would not be excessive.

Comparison of Fees and Expenses

The Board considered comparative information with respect to the investment management fees to be paid by the Fund to HL Advisors and the total expense ratio of the Fund. In this regard, the Board requested and reviewed information from HL Advisors and the Sub-adviser relating to the management fees and total operating expenses for the Fund. The Board also reviewed written materials from Lipper providing comparative information about the Fund’s management fees and total expense ratios relative to those of peer groups. While the Board recognized that comparisons between the Fund and Peer Funds are imprecise, given the differing service levels and characteristics of mutual funds, and the different business models and cost structures of the Advisers, the comparative information provided by Lipper assisted the Board in evaluating the reasonableness of the Fund’s fees and expenses. In addition, the Board considered the analysis and recommendations of the Consultant relating to the Fund’s management fees and total operating expenses.

In considering the renewal of the Agreements, the Board noted in particular its agreement with HL Advisors with respect to the following matters: (i) the implementation of a permanent reduction in the contractual management fee for the Fund and (ii) revision of the contractual fee waiver for the Fund. In its deliberations, the Board gave significant weight to the Fund’s overall expense ratio, net of these revisions. HL Advisors agreed to the following fee revision, effective January 1, 2009:


	•	Money Market HLS Fund: HL Advisors agreed to a permanent reduction in the fee rate on the first $2 billion of assets by 0.05%, which reduced the overall contractual management fees (on a weighted basis) by 0.028%. In addition, HL Advisors eliminated its 0.05% voluntary management fee waiver.

Based on these considerations, and the information about quality of services, profitability, economies of scale, and other matters discussed, the Board concluded that the Fund’s fees and total operating expenses are reasonable.

Economies of Scale

The Board requested and considered information regarding the Advisers’ realization of economies of scale with respect to the Fund, and whether the fee levels reflect these economies of scale for the benefit of the Fund’s investors. With respect to HL Advisors, the Board considered representations from HL Advisors that it is difficult to anticipate whether and the extent to which economies may be realized by HL Advisors as assets grow over time. The Board reviewed the breakpoints in the advisory fee schedule for the Fund, which reduces fees as Fund assets grow over time. The Board recognized that a Fund with assets beyond the last breakpoint level continues to benefit from economies of scale, because additional assets are charged the lowest breakpoint fee, resulting in lower overall effective management fee rates. The Board considered that the Fund may achieve some economies as certain fixed expenses are spread over a larger asset base, noting that there is no precise way to measure such economies, and that certain expenses do not necessarily decrease as assets increase. The Board also considered that expense limitations and fee waivers that reduce Fund expenses at all asset levels can have the same effect as breakpoints in sharing economies of scale with shareholders, and that a schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale.

After considering all of the information available to it, the Board concluded that it was satisfied with the extent to which economies of scale would be shared for the benefit of the Fund’s investors, based on currently available information and the effective advisory fees and expense ratio for the Fund at its current and reasonably anticipated asset levels. The Board noted, however, that it would continue to monitor future growth in Fund assets and the appropriateness of additional breakpoints.

Other Benefits

The Board considered other benefits to the Advisers and their affiliates from their relationships with the Fund, including the role of the Fund in supporting the variable life insurance and variable annuity products offered by The Hartford. The Board reviewed information noting that Hartford Life, an affiliate of HL Advisors, receives fees from the Fund for providing certain administrative services for the Fund, and that Hartford Life also receives fees for fund accounting and related services from the Fund, and the Board considered information on expected profits to Hartford Life or its affiliates for such services.

The Board also considered that Hartford Investor Services Company, LLC (“HISC”), the Fund’s transfer agent and an affiliate of HL Advisors, receives transfer agency compensation from the Fund, and the Board reviewed information on the expected profitability of the Fund’s transfer agency function to HISC. The Board considered information provided by HL Advisors indicating that the fee charged by HISC to the Fund is reasonable and in line with industry standards.

Hartford Money Market HLS Fund

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) — (continued)

The Board also considered that Hartford Securities Distribution Company, Inc., as principal underwriter of the Fund, receives 12b-1 fees from the Fund. The Board also noted that certain affiliates of HL Advisors distribute shares of the Fund and receive compensation in that connection.

The Board considered benefits to the Sub-adviser from its proposed use of the Fund’s brokerage commissions to obtain soft dollar research, and representations from HL Advisors and the Sub-adviser that the Sub-adviser would not be making revenue-sharing or other payments to HL Advisors or its affiliates in connection with the distribution of the Fund.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of the Fund and its shareholders for the Board to approve the Agreements for an additional year. In reaching this decision, the Board did not assign relative weights to the factors discussed above or deem any one or group of them to be controlling in and of themselves. In connection with their deliberations, the Independent Directors met separately in executive session on several occasions, with independent legal counsel, to review the relevant materials and consider their responsibilities under relevant laws and regulations.

Hartford Index HLS Fund inception 5/1/1987

(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/98 — 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower

Investment goal — Seeks to provide investment results which approximate the price and yield performance of publicly traded common stocks in the aggregate.

Average Annual Returns(2,3) (as of 12/31/08)


	1 Year			5 Year			10 Year

Index IA		-37.11	%		-2.50	%		-1.76	%

Index IB		-37.27	%		-2.74	%		-1.99	%

S&P 500 Index		-36.99	%		-2.19	%		-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.

(2)		Class IB shares commenced on November 9, 1999. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

(3)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

Portfolio Manager

Deane Gyllenhaal
Vice President

How did the Fund perform?

The Class IA shares of the Hartford Index HLS Fund returned -37.11% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the S&P 500 Index, which returned –36.99% for the same period, and outperforming the -37.20% return of the average fund in the Lipper S&P 500 Index Objective VP-UF Funds category, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

What is the outlook?


		1

Hartford Index HLS Fund

Schedule of Investments

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — 97.2%
		Automobiles & Components — 0.3%
	253	Ford Motor Co. (D)	$	579
	65	General Motors Corp.		206
	26	Goodyear Tire & Rubber Co. (D)		153
	25	Harley-Davidson, Inc.		419
	63	Johnson Controls, Inc.		1,141

				2,498

		Banks — 3.3%
	58	BB&T Corp.		1,605
	16	Comerica, Inc.		316
	61	Fifth Third Bancorp		505
	22	First Horizon National Corp.		230
	55	Hudson City Bancorp, Inc.		880
	39	Huntington Bancshares, Inc.		296
	52	Keycorp		446
	8	M&T Bank Corp.		468
	27	Marshall & Ilsley Corp.		375
	215	National City Corp.		390
	37	People’s United Financial, Inc.		656
	37	PNC Financial Services Group, Inc.		1,803
	73	Regions Financial Corp.		583
	58	Sovereign Bancorp, Inc.		172
	37	SunTrust Banks, Inc.		1,105
	186	US Bancorp		4,642
	229	Wachovia Corp.		1,267
	401	Wells Fargo & Co.		11,820
	12	Zion Bancorp		299

				27,858

		Capital Goods — 7.9%
	73	3M Co.		4,221
	78	Boeing Co.		3,307
	64	Caterpillar, Inc.		2,850
	18	Cooper Industries Ltd.		535
	21	Cummins, Inc.		568
	27	Danaher Corp.		1,530
	45	Deere & Co.		1,731
	20	Dover Corp.		649
	17	Eaton Corp.		865
	81	Emerson Electric Co.		2,970
	14	Fastenal Co.		477
	6	Flowserve Corp.		309
	19	Fluor Corp.		863
	41	General Dynamics Corp.		2,376
	1,111	General Electric Co.		18,002
	13	Goodrich Corp.		481
	77	Honeywell International, Inc.		2,522
	42	Illinois Tool Works, Inc.		1,460
	34	Ingersoll-Rand Co. Class A		585
	19	ITT Corp.		885
	13	Jacobs Engineering Group, Inc. (D)		627
	13	L-3 Communications Holdings, Inc.		935
	35	Lockheed Martin Corp.		2,963
	14	Manitowoc Co., Inc.		120
	38	Masco Corp.		424
	35	Northrop Grumman Corp.		1,556
	38	PACCAR, Inc.		1,096
	12	Pall Corp.		355
	17	Parker-Hannifin Corp.		726
	15	Precision Castparts Corp.		878
	44	Raytheon Co.		2,235
	15	Rockwell Automation, Inc.		481
	17	Rockwell Collins, Inc.		654
	26	Textron, Inc.		354
	50	Tyco International Ltd.		1,080
	101	United Technologies Corp.		5,393
	7	W.W. Grainger, Inc.		537

				67,600

		Commercial & Professional Services — 0.7%
	11	Avery Dennison Corp.		367
	14	Cintas Corp.		322
	6	Dun & Bradstreet Corp.		440
	13	Equifax, Inc. (D)		354
	13	Monster Worldwide, Inc. (D)		158
	22	Pitney Bowes, Inc.		557
	22	R.R. Donnelley & Sons Co.		295
	34	Republic Services, Inc.		843
	16	Robert Half International, Inc.		342
	9	Stericycle, Inc. (D)		474
	52	Waste Management, Inc.		1,719

				5,871

		Consumer Durables & Apparel — 0.9%
	6	Black & Decker Corp.		266
	13	Centex Corp.		140
	35	Coach, Inc. (D)		718
	29	D.R. Horton, Inc.		206
	28	Eastman Kodak Co.		187
	16	Fortune Brands, Inc.		657
	6	Harman International Industries, Inc.		104
	13	Hasbro, Inc.		383
	9	Jones Apparel Group, Inc.		52
	8	KB Home		108
	16	Leggett & Platt, Inc.		251
	15	Lennar Corp.		129
	38	Mattel, Inc.		606
	29	Newell Rubbermaid, Inc.		287
	42	NIKE, Inc. Class B		2,117
	6	Polo Ralph Lauren Corp.		272
	23	Pulte Homes, Inc.		247
	6	Snap-On, Inc.		238
	8	Stanley Works		286
	9	V.F. Corp.		512
	8	Whirlpool Corp.		322

				8,088

		Consumer Services — 1.7%
	11	Apollo Group, Inc. Class A (D)		865
	46	Carnival Corp.		1,124
	15	Darden Restaurants, Inc.		415
	36	H & R Block, Inc.		814
	31	International Game Technology		371
	31	Marriott International, Inc. Class A		604
	118	McDonald’s Corp.		7,331
	78	Starbucks Corp. (D)		736
	19	Starwood Hotels & Resorts		346
	19	Wyndham Worldwide Corp.		123
	7	Wynn Resorts Ltd. (D)		275
	49	Yum! Brands, Inc.		1,542

				14,546

The accompanying notes are an integral part of these financial statements.


			Market
Shares			Value (W)

COMMON STOCK — (continued)
		Diversified Financials — 6.1%
	22	American Capital, Ltd.	$	72
	123	American Express Co.		2,277
	23	Ameriprise Financial, Inc.		534
	531	Bank of America Corp.		7,474
	121	Bank of New York Mellon Corp.		3,440
	41	Capital One Financial Corp.		1,320
	99	Charles Schwab Corp.		1,600
	38	CIT Group, Inc.		173
	576	Citigroup, Inc.		3,868
	7	CME Group, Inc.		1,472
	51	Discover Financial Services, Inc.		483
	60	E*Trade Financial Corp. (D)		68
	9	Federated Investors, Inc.		159
	16	Franklin Resources, Inc.		1,021
	47	Goldman Sachs Group, Inc.		3,949
	8	IntercontinentalExchange, Inc. (D)		628
	41	Invesco Ltd.		588
	17	Janus Capital Group, Inc.		134
	395	JP Morgan Chase & Co.		12,451
	15	Legg Mason, Inc.		328
	19	Leucadia National Corp.		371
	169	Merrill Lynch & Co., Inc.		1,972
	21	Moody’s Corp.		414
	112	Morgan Stanley		1,803
	14	Nasdaq Stock Market, Inc. (D)		356
	24	Northern Trust Corp.		1,231
	28	NYSE Euronext		766
	49	SLM Corp. (D)		439
	46	State Street Corp.		1,796
	27	T. Rowe Price Group, Inc.		969

				52,156

		Energy — 12.9%
	49	Anadarko Petroleum Corp.		1,872
	35	Apache Corp.		2,642
	33	Baker Hughes, Inc.		1,045
	31	BJ Services Co.		360
	11	Cabot Oil & Gas Corp.		284
	23	Cameron International Corp. (D)		476
	57	Chesapeake Energy Corp.		926
	215	Chevron Corp.		15,900
	158	ConocoPhillips Holding Co.		8,168
	19	Consol Energy, Inc.		548
	47	Devon Energy Corp.		3,074
	74	El Paso Corp.		580
	15	ENSCO International, Inc.		425
	26	EOG Resources, Inc.		1,758
	538	Exxon Mobil Corp.		42,960
	95	Halliburton Co.		1,718
	30	Hess Corp.		1,608
	75	Marathon Oil Corp.		2,042
	9	Massey Energy Co.		124
	20	Murphy Oil Corp.		893
	30	Nabors Industries Ltd. (D)		360
	44	National Oilwell Varco, Inc. (D)		1,079
	28	Noble Corp.		617
	18	Noble Energy, Inc.		900
	86	Occidental Petroleum Corp.		5,142
	28	Peabody Energy Corp.		642
	13	Pioneer Natural Resources Co.		202
	16	Range Resources Corp.		564
	12	Rowan Companies, Inc.		190
	127	Schlumberger Ltd.		5,358
	23	Smith International, Inc.		531
	36	Southwestern Energy Co. (D)		1,052
	65	Spectra Energy Corp.		1,017
	12	Sunoco, Inc.		538
	15	Tesoro Corp.		192
	55	Valero Energy Corp.		1,182
	72	Weatherford International Ltd. (D)		779
	61	Williams Cos., Inc.		887
	61	XTO Energy, Inc.		2,151

				110,786

		Food & Staples Retailing — 3.2%
	46	Costco Wholesale Corp.		2,400
	152	CVS/Caremark Corp.		4,366
	69	Kroger Co.		1,823
	45	Safeway, Inc.		1,078
	22	Supervalu, Inc.		327
	63	Sysco Corp.		1,455
	105	Walgreen Co.		2,583
	237	Wal-Mart Stores, Inc.		13,259
	15	Whole Foods Market, Inc.		140

				27,431

		Food, Beverage & Tobacco — 6.0%
	218	Altria Group, Inc.		3,283
	68	Archer Daniels Midland Co.		1,957
	10	Brown-Forman Corp.		533
	22	Campbell Soup Co.		653
	210	Coca-Cola Co.		9,528
	34	Coca-Cola Enterprises, Inc.		403
	47	ConAgra Foods, Inc.		781
	21	Constellation Brands, Inc. Class A (D)		325
	16	Dean Foods Co. (D)		293
	27	Dr Pepper Snapple Group (D)		435
	35	General Mills, Inc.		2,145
	33	H.J. Heinz Co.		1,251
	18	Hershey Co.		609
	13	J. M. Smucker Co.		542
	27	Kellogg Co.		1,169
	155	Kraft Foods, Inc.		4,174
	18	Lorillard, Inc.		1,001
	14	McCormick & Co., Inc.		438
	16	Molson Coors Brewing Co.		769
	14	Pepsi Bottling Group, Inc.		321
	164	PepsiCo, Inc.		9,002
	214	Philip Morris International, Inc.		9,311
	18	Reynolds American, Inc.		721
	75	Sara Lee Corp.		731
	32	Tyson Foods, Inc. Class A		281
	16	UST, Inc.		1,086

				51,742

		Health Care Equipment & Services — 4.2%
	49	Aetna, Inc.		1,391
	17	Amerisource Bergen Corp.		590
	10	Bard (C.R.), Inc.		884
	66	Baxter International, Inc.		3,519
	26	Becton, Dickinson & Co.		1,761

The accompanying notes are an integral part of these financial statements.

Hartford Index HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Health Care Equipment & Services — (continued)
	159	Boston Scientific Corp. (D)	$	1,229
	38	Cardinal Health, Inc.		1,310
	29	CIGNA Corp.		491
	16	Coventry Health Care, Inc. (D)		235
	53	Covidien Ltd.		1,931
	11	DaVita, Inc. (D)		545
	16	Dentsply International, Inc.		446
	26	Express Scripts, Inc. (D)		1,441
	17	Hospira, Inc. (D)		453
	18	Humana, Inc. (D)		666
	19	IMS Health, Inc.		292
	4	Intuitive Surgical, Inc. (D)		521
	11	Laboratory Corp. of America Holdings (D)		736
	29	McKesson Corp.		1,129
	53	Medco Health Solutions, Inc. (D)		2,210
	118	Medtronic, Inc.		3,717
	10	Patterson Cos., Inc. (D)		180
	17	Quest Diagnostics, Inc.		872
	36	St. Jude Medical, Inc. (D)		1,199
	26	Stryker Corp.		1,025
	44	Tenet Healthcare Corp. (D)		51
	128	UnitedHealth Group, Inc.		3,399
	13	Varian Medical Systems, Inc. (D)		461
	54	Wellpoint, Inc. (D)		2,268
	24	Zimmer Holdings, Inc. (D)		959

				35,911

		Household & Personal Products — 3.2%
	45	Avon Products, Inc.		1,085
	15	Clorox Co.		815
	53	Colgate-Palmolive Co.		3,661
	12	Estee Lauder Co., Inc.		379
	44	Kimberly-Clark Corp.		2,307
	316	Procter & Gamble Co.		19,530

				27,777

		Insurance — 2.6%
	51	Aflac, Inc.		2,333
	58	Allstate Corp.		1,910
	292	American International Group, Inc.		459
	29	AON Corp.		1,302
	13	Assurant, Inc.		383
	39	Chubb Corp.		1,974
	18	Cincinnati Financial Corp.		514
	47	Genworth Financial, Inc.		133
	28	Lincoln National Corp.		526
	39	Loews Corp.		1,113
	54	Marsh & McLennan Cos., Inc.		1,320
	21	MBIA, Inc.		84
	87	MetLife, Inc.		3,020
	28	Principal Financial Group, Inc.		639
	73	Progressive Corp.		1,088
	46	Prudential Financial, Inc.		1,401
	9	Torchmark Corp.		414
	64	Travelers Cos., Inc.		2,873
	36	Unum Group		673
	36	XL Capital Ltd. Class A		133

				22,292

		Materials — 2.9%
	22	Air Products and Chemicals, Inc.		1,113
	12	AK Steel Holding Corp.		112
	85	Alcoa, Inc.		954
	10	Allegheny Technologies, Inc.		259
	10	Ball Corp.		417
	11	Bemis Co., Inc.		251
	6	CF Industries Holdings, Inc.		295
	98	Dow Chemical Co.		1,475
	95	E.I. DuPont de Nemours & Co.		2,415
	8	Eastman Chemical Co.		243
	18	Ecolab, Inc.		623
	40	Freeport-McMoRan Copper & Gold, Inc.		977
	8	International Flavors & Fragrances, Inc.		247
	45	International Paper Co.		534
	18	MeadWestvaco Corp.		202
	58	Monsanto Co.		4,077
	48	Newmont Mining Corp.		1,956
	33	Nucor Corp.		1,533
	18	Owens-Illinois, Inc. (D)		481
	14	Pactiv Corp. (D)		347
	17	PPG Industries, Inc.		738
	33	Praxair, Inc.		1,938
	13	Rohm & Haas Co.		817
	17	Sealed Air Corp.		249
	13	Sigma-Aldrich Corp.		558
	9	Titanium Metals Corp.		80
	12	United States Steel Corp.		458
	12	Vulcan Materials Co.		812
	22	Weyerhaeuser Co.		684

				24,845

		Media — 2.5%
	72	CBS Corp. Class B		589
	305	Comcast Corp. Class A		5,142
	58	DirecTV Group, Inc. (D)		1,323
	24	Gannett Co., Inc.		193
	50	Interpublic Group of Cos., Inc. (D)		200
	33	McGraw-Hill Cos., Inc.		772
	4	Meredith Corp.		65
	12	New York Times Co. Class A		90
	243	News Corp. Class A		2,211
	33	Omnicom Group, Inc.		884
	10	Scripps Networks Interactive Class A		210
	380	Time Warner, Inc.		3,818
	65	Viacom, Inc. Class B (D)		1,238
	196	Walt Disney Co.		4,443
	1	Washington Post Co. Class B		254

				21,432

		Pharmaceuticals, Biotechnology & Life Sciences — 10.2%
	164	Abbott Laboratories		8,761
	33	Allergan, Inc.		1,313
	112	Amgen, Inc. (D)		6,474
	31	Biogen Idec, Inc. (D)		1,470
	209	Bristol-Myers Squibb Co.		4,869
	48	Celgene Corp. (D)		2,678
	7	Cephalon, Inc. (D)		555
	106	Eli Lilly & Co.		4,263
	32	Forest Laboratories, Inc. (D)		813

The accompanying notes are an integral part of these financial statements.


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Pharmaceuticals, Biotechnology & Life Sciences — (continued)
	29	Genzyme Corp. (D)	$	1,899
	97	Gilead Sciences, Inc. (D)		4,977
	294	Johnson & Johnson		17,564
	26	King Pharmaceuticals, Inc. (D)		277
	18	Life Technologies Corp. (D)		425
	224	Merck & Co., Inc.		6,801
	6	Millipore Corp. (D)		301
	32	Mylan, Inc. (D)		319
	12	PerkinElmer, Inc.		174
	713	Pfizer, Inc.		12,633
	172	Schering-Plough Corp.		2,929
	44	Thermo Fisher Scientific, Inc. (D)		1,514
	10	Waters Corp. (D)		382
	11	Watson Pharmaceuticals, Inc. (D)		294
	141	Wyeth		5,286

				86,971

		Real Estate — 1.0%
	11	Apartment Investment & Management Co.		124
	8	Avalonbay Communities, Inc.		493
	13	Boston Properties, Inc.		705
	24	CB Richard Ellis Group, Inc. Class A (D)		102
	13	Developers Diversified Realty Corp.		63
	29	Equity Residential Properties Trust		857
	27	HCP, Inc.		741
	55	Host Hotels & Resorts, Inc.		418
	24	Kimco Realty Corp.		443
	18	Plum Creek Timber Co., Inc.		615
	28	ProLogis		390
	13	Public Storage		1,052
	24	Simon Property Group, Inc.		1,269
	14	Vornado Realty Trust		875

				8,147

		Retailing — 2.7%
	9	Abercrombie & Fitch Co. Class A		211
	34	Amazon.com, Inc. (D)		1,747
	12	AutoNation, Inc. (D)		114
	4	AutoZone, Inc. (D)		566
	28	Bed Bath & Beyond, Inc. (D)		699
	36	Best Buy Co., Inc.		1,004
	9	Big Lots, Inc. (D)		125
	22	Expedia, Inc. (D)		183
	15	Family Dollar Stores, Inc.		384
	17	GameStop Corp. Class A (D)		376
	49	Gap, Inc.		661
	17	Genuine Parts Co.		639
	179	Home Depot, Inc.		4,130
	24	J. C. Penney Co., Inc.		463
	32	Kohl’s Corp. (D)		1,166
	29	Limited Brands, Inc.		287
	155	Lowe’s Co., Inc.		3,337
	44	Macy’s, Inc.		461
	17	Nordstrom, Inc.		224
	29	Office Depot, Inc. (D)		88
	13	RadioShack Corp.		158
	6	Sears Holdings Corp. (D)		228
	10	Sherwin-Williams Co.		619
	75	Staples, Inc.		1,352
	80	Target Corp.		2,750
	13	Tiffany & Co.		307
	44	TJX Cos., Inc.		907

				23,186

		Semiconductors & Semiconductor Equipment — 2.1%
	64	Advanced Micro Devices, Inc. (D)		139
	31	Altera Corp.		526
	31	Analog Devices, Inc.		586
	142	Applied Materials, Inc.		1,438
	47	Broadcom Corp. Class A (D)		797
	588	Intel Corp.		8,627
	18	KLA-Tencor Corp.		389
	23	Linear Technology Corp.		519
	68	LSI Corp. (D)		225
	24	MEMC Electronic Materials, Inc. (D)		339
	19	Microchip Technology, Inc.		376
	81	Micron Technology, Inc. (D)		213
	21	National Semiconductor Corp.		208
	10	Novellus Systems, Inc. (D)		128
	57	NVIDIA Corp. (D)		458
	18	Teradyne, Inc. (D)		76
	137	Texas Instruments, Inc.		2,129
	29	Xilinx, Inc.		516

				17,689

		Software & Services — 5.9%
	56	Adobe Systems, Inc. (D)		1,197
	10	Affiliated Computer Services, Inc. Class A (D)		475
	18	Akamai Technologies, Inc. (D)		271
	24	Autodesk, Inc. (D)		471
	54	Automatic Data Processing, Inc.		2,112
	20	BMC Software, Inc. (D)		533
	42	CA, Inc.		772
	19	Citrix Systems, Inc. (D)		454
	31	Cognizant Technology Solutions Corp. (D)		557
	16	Computer Sciences Corp. (D)		565
	26	Compuware Corp. (D)		176
	13	Convergys Corp. (D)		83
	113	eBay, Inc. (D)		1,584
	34	Electronic Arts, Inc. (D)		545
	20	Fidelity National Information Services, Inc.		327
	17	Fiserv, Inc. (D)		617
	25	Google, Inc. (D)		7,775
	34	Intuit, Inc. (D)		804
	8	MasterCard, Inc.		1,101
	16	McAfee, Inc. (D)		557
	809	Microsoft Corp.		15,733
	37	Novell, Inc. (D)		142
	414	Oracle Corp. (D)		7,348
	34	Paychex, Inc.		894
	11	Salesforce.com, Inc. (D)		355
	88	Symantec Corp. (D)		1,195
	21	Total System Services, Inc.		291
	21	VeriSign, Inc. (D)		391
	76	Western Union Co.		1,086

The accompanying notes are an integral part of these financial statements.

Hartford Index HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Software & Services — (continued)
	147	Yahoo!, Inc. (D)	$	1,791

				50,202

		Technology Hardware & Equipment — 6.9%
	37	Agilent Technologies, Inc. (D)		579
	19	Amphenol Corp. Class A		446
	94	Apple, Inc. (D)		8,028
	10	Ciena Corp. (D)		64
	619	Cisco Systems, Inc. (D)		10,097
	164	Corning, Inc.		1,567
	183	Dell, Inc. (D)		1,875
	216	EMC Corp. (D)		2,261
	15	FLIR Systems, Inc. (D)		451
	14	Harris Corp.		540
	259	Hewlett-Packard Co.		9,405
	142	International Business Machines Corp.		11,963
	22	Jabil Circuit, Inc.		150
	23	JDS Uniphase Corp. (D)		85
	56	Juniper Networks, Inc. (D)		979
	8	Lexmark International, Inc. ADR (D)		224
	15	Molex, Inc.		216
	240	Motorola, Inc.		1,061
	35	NetApp, Inc. (D)		488
	14	QLogic Corp. (D)		182
	175	Qualcomm, Inc.		6,275
	24	SanDisk Corp. (D)		231
	78	Sun Microsystems, Inc. (D)		298
	42	Tellabs, Inc. (D)		173
	19	Teradata Corp. (D)		277
	48	Tyco Electronics Ltd.		785
	92	Xerox Corp.		730

				59,430

		Telecommunication Services — 3.7%
	42	American Tower Corp. Class A (D)		1,230
	623	AT&T, Inc.		17,768
	11	CenturyTel, Inc.		291
	15	Embarq Corp.		541
	33	Frontier Communications Corp.		287
	155	Qwest Communications International, Inc.		564
	302	Sprint Nextel Corp.		552
	301	Verizon Communications, Inc.		10,188
	47	Windstream Corp.		428

				31,849

		Transportation — 2.2%
	30	Burlington Northern Santa Fe Corp.		2,245
	18	C.H. Robinson Worldwide, Inc.		986
	42	CSX Corp.		1,354
	22	Expeditors International of Washington, Inc.		745
	33	FedEx Corp.		2,110
	39	Norfolk Southern Corp.		1,845
	6	Ryder System, Inc.		229
	78	Southwest Airlines Co.		674
	54	Union Pacific Corp.		2,563
	105	United Parcel Service, Inc. Class B		5,805

				18,556

		Utilities — 4.1%
	71	AES Corp. (D)		587
	18	Allegheny Energy, Inc.		607
	22	Ameren Corp.		744
	43	American Electric Power Co., Inc.		1,423
	36	CenterPoint Energy, Inc.		460
	24	CMS Energy Corp.		241
	29	Consolidated Edison, Inc.		1,127
	19	Constellation Energy Group, Inc.		474
	62	Dominion Resources, Inc.		2,205
	17	DTE Energy Co.		614
	134	Duke Energy Corp.		2,010
	54	Dynegy Holdings, Inc. (D)		108
	34	Edison International		1,107
	20	Entergy Corp.		1,664
	14	Equitable Resources, Inc.		463
	70	Exelon Corp.		3,871
	32	FirstEnergy Corp.		1,565
	43	FPL Group, Inc.		2,178
	8	Integrys Energy Group, Inc.		346
	5	Nicor, Inc.		167
	29	NiSource, Inc.		319
	23	Pepco Holdings, Inc.		407
	38	PG&E Corp.		1,479
	11	Pinnacle West Capital Corp.		341
	40	PPL Corp.		1,217
	28	Progress Energy, Inc.		1,108
	54	Public Service Enterprise Group, Inc.		1,563
	18	Questar Corp.		601
	12	SCANA Corp.		441
	26	Sempra Energy		1,097
	82	Southern Co.		3,033
	22	TECO Energy, Inc.		278
	12	Wisconsin Energy Corp.		521
	48	Xcel Energy, Inc.		882

				35,248

		Total common stock (cost $1,072,365)	$	832,111


Principal
Amount

SHORT-TERM INVESTMENTS — 2.1%
		Repurchase Agreements — 1.8%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $8,411, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $8,494)
$	8,411	0.01% dated 12/31/2008	$	8,411
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $5,576, collateralized by U.S. Treasury Note 3.13%, 2013, value of $5,671)
	5,576	0.03% dated 12/31/2008		5,576
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,297, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $1,298)
	1,297	0.02% dated 12/31/2008		1,297

				15,284

The accompanying notes are an integral part of these financial statements.


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)
		U.S. Treasury Bills — 0.3%
$	2,898	0.33%, 01/15/2009 (M) (S)			$	2,900

		Total short-term investments (cost $18,182)			$	18,184

		Total investments (cost $1,090,547) (C)	99.3	%	$	850,295
		Other assets and liabilities	0.7	%		5,800

		Total net assets	100.0	%	$	856,095


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedule of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,115,052 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	115,917
Unrealized Depreciation		(380,674	)

Net Unrealized Depreciation	$	(264,757	)


(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

S&P 500 Index

Long

Mar 2009

180


*		The number of contracts does not omit 000’s.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Statements of Changes in Net Assets
December 31, 2008
(000’s Omitted)


	Hartford Index
	HLS Fund
	For the			For the
	Year Ended			Year Ended
	December 31, 2008			December 31, 2007
Operations:
Net investment income	$	25,142		$	28,378
Net realized gain (loss) on investments and futures, contracts		(1,579	)		106,154
Net unrealized depreciation of investments and futures, contracts		(576,370	)		(39,036	)

Net increase (decrease) in net assets resulting from operations		(552,807	)		95,496


Distributions to Shareholders:
From net investment income
Class IA		(21,266	)		(23,589	)
Class IB		(3,640	)		(3,932	)
From net realized gain on investments
Class IA		(24,970	)		(79,243	)
Class IB		(4,911	)		(15,598	)

Total distributions		(54,787	)		(122,362	)


Capital Share Transactions:
Class IA
Sold		82,038			117,054
Issued on reinvestment of distributions		46,236			102,832
Redeemed		(292,603	)		(406,211	)

Total capital share transactions		(164,329	)		(186,325	)

Class IB
Sold		41,948			78,279
Issued on reinvestment of distributions		8,551			19,530
Redeemed		(85,275	)		(96,850	)

Total capital share transactions		(34,776	)		959

Net decrease from capital share transactions		(199,105	)		(185,366	)

Net decrease in net assets		(806,699	)		(212,232	)

Net Assets:
Beginning of period		1,662,794			1,875,026

End of period	$	856,095		$	1,662,794

Accumulated undistributed net investment income	$	1,442		$	1,095


Shares:
Class IA
Sold		3,273			3,474
Issued on reinvestment of distributions		2,143			3,288
Redeemed		(11,223	)		(12,047	)

Total share activity		(5,807	)		(5,285	)

Class IB
Sold		1,603			2,330
Issued on reinvestment of distributions		394			627
Redeemed		(3,274	)		(2,887	)

Total share activity		(1,277	)		70

The accompanying notes are an integral part of these financial statements.

Hartford Index HLS Fund

Notes to Financial Statements
December 31, 2008
($000’s Omitted)


1.	Organization:

Hartford Index HLS Fund (the “Fund”) serves an underlying investment option for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company and its affiliates (“HLIC”) and certain qualified retirement plans. The Fund may also serve as an underlying investment option for certain variable annuity and variable life insurance separate accounts of other insurance companies. Owners of variable annuity contracts and policyholders of variable life insurance contracts may choose the funds permitted in the variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the funds permitted by their plans.

Hartford Series Fund, Inc. (the “Company”) is an open-end management investment company comprised of thirty-four portfolios (the Fund is the only one included in these financials). The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940 as amended (“1940 Act”), as a diversified open-end management investment company.


2.	Significant Accounting Policies:

The following is a summary of significant accounting policies of the Fund, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).


	a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.

		Dividend income is accrued as of the ex-dividend date, except that certain dividends for foreign securities where the ex-dividend date may have passed are recorded as soon as the Fund is informed of the dividend in the exercise of reasonable diligence. Interest income, including amortization of premium and accretion of discounts, is accrued on a daily basis.

	b)	Security Valuation — The Fund generally uses market prices in valuing portfolio securities. If market quotations are not readily available or are deemed unreliable, the Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of the Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which a Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of securities principally traded on foreign markets, the Fund uses a fair value pricing service approved by the Fund’s Board of Directors, which employs quantitative models which evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, exchange traded funds (“ETF’s”)) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Fund. The value of the Fund’s foreign portfolio securities may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Fund may cause the NAV of the shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that the Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which that Fund determines its NAV.

Exchange traded equity securities shall be valued at the last reported sale price on the exchange or market on which the security is primarily traded (the “Primary Market”) at the Valuation Time. If the security did not trade on the Primary Market, it may be valued at the Valuation Time at the last reported sale price on another exchange where it trades. The value of an equity security not traded on any exchange but traded on the Nasdaq Stock Market, Inc. (“Nasdaq”) or another over-the-counter (“OTC”) market shall be valued at the last reported sale price or official closing price on the exchange or market on which the security is traded as of the Valuation Time. If it is not possible to determine the last reported sale price or official closing price on the relevant exchange or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Short term investments with a maturity of more than 60 days when purchased are valued based on market quotations until the remaining days to maturity become less than 61 days. Investments that mature in 60 days or less are valued at amortized cost, which approximates fair value.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Futures contracts shall be valued at the final settlement price reported by an exchange on which, over time, they are traded most extensively. If a settlement price is not available, futures contracts will be valued at the most recent trade price as of the Valuation Time. If there were no trades, the contract shall be valued at the closing bid/ask prices as of the Valuation Time.

A forward currency contract shall be valued based on the price of underlying currency at the prevailing interpolated exchange rate, which is a combination of the spot currency rate and the forward currency rate. Spot currency rates and forward currency rates are obtained from an independent pricing service on a daily basis not more than one hour before the Valuation Time.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.


	c)	Foreign Currency Transactions — The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.

The Fund does not isolate that portion of the portfolio security valuation resulting from fluctuations in foreign currency exchange rates on portfolio securities from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments in the accompanying financial statements.


	d)	Securities Lending — The Fund may lend its securities to certain qualified brokers who pay the Fund negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U. S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.

While securities are on loan, the Fund is subject to: the following risks: 1) that the borrower may default on the loan and that the collateral could be inadequate in the event the borrower defaults, 2) that the earnings on the collateral invested may not be sufficient to pay fees incurred in connection with the loan, 3) that the principal value of the collateral invested may decline and may not be sufficient to pay back the borrower for the amount of the collateral posted, 4) that the borrower may use the loaned securities to cover a short sale which may place downward pressure on the market prices of the loaned securities, 5) that return of loaned securities could be delayed and could interfere with portfolio management decisions and 6) that any efforts to recall the securities for purposes of voting a proxy may not be effective. The Fund had no securities on loan as of December 31, 2008.


	e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Fund may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.

	f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Fund enters into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by the Fund’s custodian in book entry or physical form in the custodial account of the Fund or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest receivable. The Fund, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2008.

	g)	Indexed Securities — The Fund may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Fund uses these securities to increase or decrease its exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. The Fund had no investments in indexed securities as of December 31, 2008.

	h)	Fund Share Valuation and Distributions to Shareholders — Orders for the Fund’s shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of the Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of the Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of the Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.

Dividends are declared pursuant to a policy by the Fund’s Board of Directors based upon the investment performance of the Fund. The policy of the Fund is to pay dividends from net investment income and distribute realized capital gains, if any, at least once a year.

Distributions from net investment income, realized capital gains and capital are determined in accordance with federal income tax regulations, which may differ from U. S. GAAP with respect to character and timing. These differences include foreign currency gains and losses, losses deferred due to wash sales adjustments and excise tax regulations. Permanent book and federal income tax basis differences relating to shareholder distributions will result in reclassifications to certain of the Fund’s capital accounts (see Note 4 (d)).


	i)	Illiquid and Restricted Securities — The Fund is permitted to invest up to 15% of its net assets in illiquid securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine the Fund’s NAV. The

Hartford Index HLS Fund

Notes to Financial Statements — (continued)
December 31, 2008
($000’s Omitted)


		Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investments in them may have an adverse impact on NAV. The Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Fund’s Board of Directors.


	j)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Fund on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Fund identifies securities segregated in its records with value at least equal to the amount of the commitment. As of December 31, 2008, the Fund had no outstanding when-issued or forward commitments.

	k)	Swaps — The Fund may enter into event linked swaps, including credit default swaps. The credit default swap market allows the Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract.

The Fund may enter into interest rate swaps. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate multiplied by a “notional principal amount,” in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. If a swap agreement provides for payments in different currencies, the parties might agree to exchange the notional principal amount as well. Swaps may also depend on other prices or rates, such as the value of an index or mortgage prepayment rates. The Fund had no outstanding swaps as of December 31, 2008.


	l)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

	m)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective January 1, 2008, the Fund adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.


	•	Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, repurchase agreements, and rights and warrants.

	•	Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and which are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.

	•	Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and requires significant management judgment or estimation. This category includes broker-quoted securities, long dated OTC options, and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than that presented above, as individual circumstances dictate.

Refer to the valuation hierarchy levels summary found following the Schedule of Investments.


	n)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk-related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning


		after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.


	o)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Company, on behalf of the Fund, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had any prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.


3.	Futures and Options Transactions:

The Fund may invest in futures and options contracts in order to gain exposure to or protect against changes in the market. A futures contract is an agreement between two parties to buy and sell a security at a set price on a future date. When the Fund enters into such futures contracts, the Fund is required to deposit with a futures commission merchant an amount of “initial margin” of cash, commercial paper or U.S. Treasury Bills. Subsequent payments, called variation margin, to and from the broker, are made on a daily basis as the price of the underlying security fluctuates, making the long and short positions in the futures contract more or less valuable (i.e., mark-to-market), which results in an unrealized gain or loss to the Fund.

At any time prior to the expiration of the futures contract, the Fund may close the position by taking an opposite position, which would effectively terminate the position in the futures contract. A final determination of maintenance margin is then made, additional cash is required to be paid by or released to the Fund and the Fund realizes a gain or loss.

The use of futures contracts involve elements of market risk, which may exceed the amounts recognized in the Statement of Assets and Liabilities. Changes in the value of the futures contracts may decrease the effectiveness of the Fund’s strategies and potentially result in loss. The Fund, as shown on the Schedule of Investments, had outstanding futures contracts as of December 31, 2008.

The premium paid by the Fund for the purchase of a call or put option is included in the Fund’s Statement of Assets and Liabilities as an investment and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options to reflect the current market value of the option as of the end of the reporting period.

The Fund may write covered options. “Covered” means that so long as the Fund is obligated as the writer of an option, it will own either the underlying securities or currency or an option to purchase or sell the same underlying securities or currency having an expiration date of the covered option and an exercise price equal to or less than the exercise price of the covered option, or will pledge cash or other liquid securities having a value equal to or greater than the fluctuating market value of the option securities or currencies. A Fund receives a premium for writing a call or put option, which is recorded on the Fund’s Statement of Assets and Liabilities and subsequently “marked-to-market” through net unrealized appreciation (depreciation) of options. There is a risk of loss from a change in the value of such options, which may exceed the related premiums received. The Fund had no outstanding written option contracts as of December 31, 2008.


4.	Federal Income Taxes:


	a)	Federal Income Taxes — For federal income tax purposes, the Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of its taxable net investment income and net realized capital gains to its shareholders and otherwise complying with the requirements of regulated investment companies. The Fund has distributed substantially all of its income and capital gains in prior years and the Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distributions for federal income tax purposes.

	b)	Net investment income (loss) and net realized gains (losses) may differ for financial statement and tax purposes primarily because of wash sale transactions, amortization adjustments, and differing tax treatment for investments in derivatives, REITs, RICs, and partnerships. The character of distributions made during the year from net investment income or realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividend distributions, the fiscal year in which amounts are distributed may differ from the year that the income or realized gains (losses) were recorded by the Fund.

	c)	The tax character of distributions paid by the Fund (as adjusted for dividends payable) from ordinary income was $25,681 and $29,201 and the distributions from long-term capital gains were $29,106 and $93,161, for the years ended December 31, 2008 and 2007, respectively. The Fund designates these distributions as long-term capital gain dividends per IRC code Sec. 852(b)(3)(C).

As of December 31, 2008, the Fund’s components of distributable earnings (deficit) on a tax basis was undistributed ordinary income of $1,441, undistributed long-term capital gains of $212, accumulated capital and other losses of $8,862, unrealized depreciation $264,757 and total accumulated deficit of $(271,966).

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of wash sales losses and the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256.


	d)	In accordance with American Institute of Certified Public Accountants Statement of Position 93-2, Determination, Disclosure, and Financial Statement Presentation of Income, Capital Gain, and Return of Capital Distributions by Investment Companies, the Fund has recorded reclassifications in its capital accounts. These reclassifications had no impact on the NAV of the Fund. The reclassifications are a result of permanent differences between GAAP and tax accounting for such items as net operating losses that reduce distribution requirements. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Fund’s distributions may be shown in the accompanying Statement of Changes in Net Assets as from net investment income, from net realized gains on investments or from capital depending on

Hartford Index HLS Fund

Notes to Financial Statements — (continued)
December 31, 2008
($000’s Omitted)


		the type of book and tax differences that exist. For the year ended December 31, 2008, the Fund recorded a reclassification of $111 to accumulated net investment income (loss), a reclassification of $(113) to accumulated net realized gain (loss) and a reclassification of $2 to Paid-in-Capital.


	e)	The Fund had no capital loss carryforwards for U.S. Federal Tax purposes as of December 31, 2008.

As of December 31, 2008, the Fund had elected to defer post October losses for long-term capital gains of $8,862.


	f)	Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Fund adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended December 31, 2005 — 2008) and has determined there is no impact to the Fund’s financial statements.


5.	Expenses:


	a)	Investment Management and Advisory Agreements — HL Investment Advisors, LLC (HL Advisors) an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Fund pursuant to an Investment Management Agreement for the Hartford Series Fund, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for the Fund. In addition, HL Advisors provides administrative personnel, services, equipment, facilities and office space for proper operation of the Fund.


	b)	Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the Fund, HLIC provides administrative services to the Fund and receives monthly compensation at the annual rate of 0.20% for the first $5 billion in average net assets, 0.18% of average net assets for the next $5 billion and 0.17% for average net assets over $10 billion. The Fund assumes and pays certain other expenses (including, but not limited to, accounting, custodian, state taxes and Directors’ fees).

The Fund pays a fee to HL Advisors, a portion of which is used to compensate Hartford Investment Management.


Hartford Index HLS Fund
Average Daily Net Assets	Annual Fee

On first $2 billion		0.30%
On next $3 billion		0.20%
On next $5 billion		0.18%
Over $10 billion		0.17%


	c)	Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and the Fund, HLIC provides accounting services to the Fund and receives monthly compensation on the Fund’s average daily net assets. The rate of compensation was 0.010% for the year ended December 31, 2008. The Fund’s accounting services fees are accrued daily and paid monthly.

	d)	Other Related Party Transactions — Certain officers of the Funds are directors and/or officers of HL Advisors, Hartford Investment Management and /or The Hartford or its subsidiaries. For the year ended December 31, 2008, a portion of the Fund’s chief compliance officer’s salary was paid by the Fund in the amount of $3. These fees are accrued daily and paid monthly.

	e)	Operating Expenses — Allocable expenses incurred by the Fund are allocated to classes within the Fund in proportion to the average daily net assets of the Fund and each class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within the Fund.

	f)	Fees Paid Indirectly — The Fund has entered into agreements with State Street Global Advisors, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Fund’s expenses. In addition, the Fund’s custodian bank has also agreed to reduce its fees when the Fund maintains cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2008, these amounts are included in the Statement of Operations.


	For the						For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2008						December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Index HLS Fund		0.32	%		0.57	%		0.33	%		0.58	%		0.33	%		0.58	%		0.42	%		0.67	%		0.44	%		0.69	%


	g)	Distribution Plan for Class IB shares — The Fund has adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, the Fund is authorized to compensate the Distributor, Hartford Securities Distribution Company, Inc. (a wholly


		owned, ultimate subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Class IB shares, subject to the Fund Board’s review and approval.


	h)	Payment from Affiliate — The Fund is available for purchase by the separate accounts of different variable universal life policies, variable annuity products, and funding agreements and it is offered directly to certain qualified retirement plans (collectively “Products”). Although existing Products contain transfer restrictions, some Products, particularly older variable annuity products, do not contain restrictions on the frequency of transfers. In addition, as the result of the settlement of litigation against Hartford Life, (the issuer of such variable annuity products), the Fund’s ability to restrict transfers by certain owners of older variable annuity products was limited. During 2006, these annuity owners surrendered the older variable annuity contracts that were the subject of prior litigation. In February 2005, Hartford Life agreed with the Board of Directors of the Fund to indemnify the Fund for any material harm caused to the Fund from frequent trading by these contracts owners.

The total return in the financial highlights includes the impact of the payment from affiliates. Had the payment from affiliate for unrestricted transfers been excluded, the impact on total return for the year ended December 31, 2006, would have been 0.01% for Class IA and Class IB.


6.	Investment Transactions:

For the year ended December 31, 2008, the Fund’s aggregate purchases and sales of investment securities (excluding short-term investments and U.S. government obligations) amounted to $51,749 and $299,685, respectively.


7.	Line of Credit:

The Fund participates in a $1 billion committed revolving line of credit facility. The facility is to be used for temporary or emergency purposes. Under the arrangement, the Fund is required to own securities having a market value in excess of 300% of the total bank borrowings. The interest rate on borrowings varies depending on the nature of the loan. The facility also requires a fee to be paid based on the amount of the commitment. During the year ended December 31, 2008, the Fund did not have any borrowings under this facility.


8.	Industry Classifications:

Hartford Index HLS Fund

Financial Highlights


	*— Selected Per-Share Data (#) —*																				*— Ratios and Supplemental Data —*
							*Net*
							*Realized*																	*Net*										*Ratio of*			*Ratio of*			*Ratio of*
							*and*									*Distributions*								*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*				*Unrealized*			*Total*			*Dividends*			*from*								*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*		*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*					*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*		*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*		*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*		*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*		*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford Index HLS Fund
For the Year Ended December 31, 2008
Class IA	$	31.54	$	0.59	$	—	$	(12.16	)	$	(11.57	)	$	(0.58	)	$	(0.64	)	$	—	$	(1.22	)	$	(12.79	)	$	18.75		(37.11	)%	$	718,081		0.32	%		0.32	%		2.02	%		4	%
Class IB		31.40		0.51		—		(12.07	)		(11.56	)		(0.51	)		(0.64	)		—		(1.15	)		(12.71	)		18.69		(37.27	)		138,014		0.57			0.57			1.77			—
For the Year Ended December 31, 2007
Class IA		32.36		0.59		—		1.07			1.66			(0.57	)		(1.91	)		—		(2.48	)		(0.82	)		31.54		5.20			1,390,827		0.33			0.33			1.61			4
Class IB		32.22		0.48		—		1.09			1.57			(0.48	)		(1.91	)		—		(2.39	)		(0.82	)		31.40		4.94			271,967		0.58			0.58			1.36			—
For the Year Ended December 31, 2006
Class IA		31.97		0.56		—		4.05			4.61			(0.56	)		(3.66	)		—		(4.22	)		0.39			32.36		15.46	(d)		1,598,176		0.42			0.33			1.60			4
Class IB		31.84		0.44		—		4.06			4.50			(0.46	)		(3.66	)		—		(4.12	)		0.38			32.22		15.17	(d)		276,850		0.67			0.58			1.36			—
For the Year Ended December 31, 2005
Class IA		32.17		0.51		—		0.90			1.41			(0.61	)		(1.00	)		—		(1.61	)		(0.20	)		31.97		4.50			1,701,424		0.42			0.42			1.46			5
Class IB		32.02		0.40		—		0.93			1.33			(0.51	)		(1.00	)		—		(1.51	)		(0.18	)		31.84		4.24			263,579		0.67			0.67			1.21			—
For the Year Ended December 31, 2004
Class IA		29.60		0.50		—		2.56			3.06			(0.39	)		(0.10	)		—		(0.49	)		2.57			32.17		10.39			1,973,470		0.44			0.44			1.60			5
Class IB		29.49		0.44		—		2.53			2.97			(0.34	)		(0.10	)		—		(0.44	)		2.53			32.02		10.12			252,959		0.69			0.69			1.35			—


(a)		The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.
(b)		Ratios do not reflect reductions for fees paid indirectly. Please see Note 5(f).
(c)		Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(d)		Total return without the inclusion of the Payment from (to) Affiliate, as noted on the Statement of Operations, can be found in Note 5(h).
#		Information presented relates to a share outstanding throughout the indicated period.

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc.

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Hartford Index HLS Fund (the “Fund”) (one of the thirty-four portfolios constituting the Hartford Series Fund, Inc.) as of December 31, 2008, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Fund’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of December 31, 2008, by correspondence with the custodian, and brokers or by other appropriate auditing procedures where replies from brokers were not received. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of the Hartford Index HLS Fund of the Hartford Series Fund, Inc. at December 31, 2008, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 24, 2009

Hartford Series Fund, Inc.

Directors and Officers (Unaudited)

The table below sets forth, for each director and officer, his or her name, age, current position with the Funds and date first elected or appointed to Hartford Series Fund, Inc., principal occupation, and, for directors, other directorships held. The Fund’s statement of additional information contains further information on the directors and is available free of charge by calling 1-800-862-6668 or writing to Hartford HLS Funds, c/o Individual Annuity Services, P.O. Box 5085, Hartford, CT 06102-5085.

Non-Interested Directors

Lynn S. Birdsong (age 62) Director since 2003, Co-Chairman of the Investment Committee

Robert M. Gavin, Jr. (age 68) Director since 2002 (SF), Chairman of the Board since 2004

Duane E. Hill (age 63) Director since 2001 (SF), Chairman of the Nominating Committee

Sandra S. Jaffee (age 67) Director since 2005

William P. Johnston (age 64) Director since 2005, Chairman of the Compliance Committee

Phillip O. Peterson (age 64) Director since 2002 (SF), Chairman of the Audit Committee

Lemma W. Senbet (age 62) Director since 2005

Interested Directors and Officers

Thomas M. Marra (age 50) Director since 2002

Lowndes A. Smith (age 69) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

John C. Walters (age 47) Director since 2008, President and Chief Executive Officer since 2007

Other Officers

Robert M. Arena, Jr. (age 40) Vice President since 2006

Mr. Arena serves as Executive Vice President of Hartford Life. Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company (“HASCO”), Chief Executive Officer, Manager and President of Hartford Investment Financial Services, LLC. (“HIFSCO”) and Chief Executive Officer, Manager and President of HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 50) Vice President, Treasurer, and Controller since 1993

Brian Ferrell (age 46) AML Compliance Officer since 2008

Thomas D. Jones, III (age 43) Vice President and Chief Compliance Officer since 2006

Edward P. Macdonald (age 41) Vice President, Secretary and Chief Legal Officer since 2005

Vernon J. Meyer (age 44) Vice President since 2006

Denise A. Settimi (age 48) Vice President since 2005

Hartford Series Fund, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2008 through December 31, 2008.

Actual Expenses

Hypothetical Example for Comparison Purposes

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/366 (to reflect the one-half year period).


					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2008		Account		Account		June 30, 2008		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2008		December 31, 2008		December 31, 2008		June 30, 2008		December 31, 2008		December 31, 2008		ratio			1/2 year		full year
Hartford Index HLS Fund
Class IA	$	1,000.00	$	714.17	$	1.33	$	1,000.00	$	1,022.55	$	1.57		0.31	%		184		366
Class IB	$	1,000.00	$	713.98	$	2.41	$	1,000.00	$	1,022.32	$	2.84		0.56	%		184		366

Hartford Index HLS Fund

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)

At a meeting held on August 5-6, 2008, the Board of Directors (the “Board”) of the Fund, including each of the Independent Directors, unanimously voted to approve the investment management agreement for the Fund with HL Investment Advisors, LLC (“HL Advisors”), and the investment sub-advisory agreement between HL Advisors and the Fund’s sub-adviser (“Sub-adviser,” and together with HL Advisors, “Advisers”) — Hartford Investment Management Company (“Hartford Investment Management”) (collectively, the “Agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the Advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about the Fund and the related Agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 24-25, 2008 and August 5-6, 2008. In considering the approval of the Agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Fund by the Advisers, and their affiliates.

In considering the renewal of the Agreements, the Independent Directors were advised by independent legal counsel. In addition, the Independent Directors engaged two service providers to assist them with evaluating the Agreements with respect to the Fund. Lipper, Inc. (“Lipper”), an independent provider of investment company data, was retained to provide the Board with reports on how the Fund’s management fees, administrative fees, overall expense ratios, and investment performance compared to those of mutual funds with similar investment objectives in various peer groups (“Peer Funds”). The Independent Directors also engaged an independent financial services consulting firm (the “Consultant”) to assist them in evaluating the Fund’s management fees, sub-advisory fees, administrative fees, overall expense ratios and investment performance.

Nature, Extent And Quality Of Services

With respect to HL Advisors, the Board noted that under the Agreements, HL Advisors is responsible for the management of the Fund, including overseeing fund operations and service providers, and Hartford Life provides administrative services to the Fund as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and Hartford Life, with respect to each of these services. The Board considered that HL Advisors or its affiliates are responsible for providing the Fund’s officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Fund and its shareholders by HL Advisors’ affiliates.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Fund by HL Advisors and the Sub-adviser.

Performance of the Fund, HL Advisors, and the Sub-Adviser

The Board reviewed the performance of the Fund over the different time periods presented in the materials and evaluated each Adviser’s analysis of the Fund’s performance for these time periods, with specific attention to information indicating any underperformance of the Fund for specific time periods relative to a peer group or benchmark, and the causes for such underperformance. In evaluating the performance of the Fund, the Board also considered whether the Fund had been in operation for a sufficient time period to establish a meaningful performance track record.

Costs of the Services and Profitability

The Board considered the costs and profitability information for HL Advisors and Hartford Investment Management in the aggregate.

Based on these considerations, the Board concluded that the profits anticipated to be realized by the Advisers and their affiliates from their relationships with the Fund would not be excessive.

Comparison of Fees and Expenses

Economies of Scale

Other Benefits

The Board considered other benefits to the Advisers and their affiliates from their relationships with the Funds, including the role of the Fund in supporting the variable life insurance and variable annuity products offered by The Hartford. The Board reviewed information noting that Hartford Life, an affiliate of HL Advisors, receives fees from the Fund for providing certain administrative services for the Fund, and that Hartford Life also receives fees for fund accounting and related services from the Fund, and the Board considered information on expected profits to Hartford Life or its affiliates for such services.

The Board also considered that Hartford Investor Services Company, LLC (“HISC”), the Fund’s transfer agent and an affiliate of HL Advisors, receives transfer agency compensation from the Fund, and the Board reviewed information on the expected profitability of the Fund’s transfer agency function to HISC. The Board considered information provided by HL Advisors indicating that the fees charged by HISC to the Fund is reasonable and in line with industry standards.

Hartford Index HLS Fund

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) — (continued)

* * * *

Hartford Advisers HLS Fund inception 3/31/1983
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal – Seeks maximum long-term total return.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year		10 Year

Advisers IA		-31.64	%	-2.13	%	-0.41	%

Advisers IB		-31.81	%	-2.38	%	-0.63	%

Barclays Capital Government/Credit Bond Index		5.70	%	4.64	%	5.64	%

S&P 500 Index		-36.99	%	-2.19	%	-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Steven T. Irons, CFA	John C. Keogh	Peter I. Higgins, CFA	Christopher L. Gootkind, CFA
Senior Vice President, Partner	Senior Vice President, Partner	Senior Vice President	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Advisers HLS Fund returned -31.64% for the twelve-month period ended December 31, 2008, versus the returns of -36.99% for the S&P 500 Index and 5.70% for the Barclays Capital Government/Credit Bond Index. The Fund underperformed the -29.60% return of the average fund in the Lipper Mixed-Asset Target Allocation Growth VP-UF Funds peer group, a group of funds that hold between 60%-80% in equity securities, with the remainder invested in bonds, cash, and cash equivalents.

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in history. After a positive start to the year, global equity markets stumbled as a widespread contraction in credit led to major changes in the financial landscape. These included the near collapse of the large investment bank Bear Stearns, government takeovers of Fannie Mae and Freddie Mac, the bankruptcy of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy weakened further, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a U.S. and global recession, investors sought to shed risk, punishing equity and credit-related securities broadly in favor of the safety of government bonds. The credit crunch intensified as lending standards tightened and broad-based deleveraging occurred. During the period, the U.S. Federal Reserve cut the federal funds rate to a target range of 0% – 0.25% and indicated that low rates are likely to persist for an extended period of time. The government also introduced a number of liquidity programs in an effort to alleviate pressures in the fixed income markets and renew investor confidence.


		1

Treasury yields reached record lows, economic conditions deteriorated further, and a U.S. recession was confirmed in December.

The fixed income portion of the Fund underperformed its benchmark primarily due to its overweight allocations to spread sectors (i.e. those that offer yield premiums over Treasuries). The Fund’s allocations to mortgage-backed securities (MBS), in particular non-agency MBS, commercial mortgage-backed securities (CMBS), and asset-backed securities (ABS), and an overweight to corporate bonds all detracted from relative results. During the twelve-month period, mortgage-backed pass-through securities underperformed duration-equivalent Treasuries due to increased interest rate volatility and a lack of market liquidity which led to forced selling of even higher quality assets. Non-agency MBS also suffered in this environment as the liquidity premium combined with elevated risk aversion pushed valuations materially lower. CMBS spreads widened as recession concerns mounted and speculation increased that commercial real estate defaults would rise. Corporate spreads also widened amid growing risk aversion, a lack of liquidity, and the largest bankruptcy in corporate bond history, Lehman Brothers. The Fund’s overweight positioning in these sectors detracted from relative performance. In addition, the Fund was positioned with an overweight to corporate debt issued by Financials. Financial issuers, at the epicenter of the credit crunch, underperformed and the Fund’s credit security selection had a negative impact on relative results.

What is the outlook?

We believe that recent government intervention will reduce systemic risk. However, U.S. economic fundamentals remain weak and the risk of further downside surprises in growth remains.


		2

Diversification by Industry

as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.3	%

Banks		2.9

Capital Goods		3.6

Commercial & Professional Services		0.3

Consumer Cyclical		0.6

Consumer Staples		0.9

Diversified Financials		7.9

Energy		9.9

Finance		10.9

Food & Staples Retailing		3.3

Food, Beverage & Tobacco		2.4

General Obligations		0.5

Health Care		0.7

Health Care Equipment & Services		3.2

Household & Personal Products		0.4

Insurance		0.5

Materials		2.0

Media		3.5

Pharmaceuticals, Biotechnology & Life Sciences		7.5

Retailing		4.0

Semiconductors & Semiconductor Equipment		3.2

Services		0.2

Software & Services		4.1

Technology		1.3

Technology Hardware & Equipment		5.6

Telecommunication Services		0.9

Transportation		3.4

U.S. Government Agencies		4.4

U.S. Government Securities		9.0

Utilities		1.3

Short-Term Investments		0.8

Other Assets and Liabilities		0.5

Total		100.0	%

Distribution by Security Type

as of December 31, 2008


	Percentage of
Security Type	Net Assets

Asset & Commercial Mortgage Backed Securities		2.2	%

Common Stocks		68.1

Corporate Bonds: Investment Grades		14.5

Municipal Bonds		0.5

U.S. Government Agencies		4.4

U.S. Government Securities		9.0

Short-Term Investments		0.8

Other Assets and Liabilities		0.5

Total		100.0	%


		3

Hartford Capital Appreciation HLS Fund inception 4/2/1984
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 3000 Index is an unmanaged index that measures the performance of the 3,000 largest U.S. companies based on total market capitalization.

Investment goal – Seeks growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year		10 Year

Capital Appreciation IA		-45.59	%	0.44	%	5.41	%

Capital Appreciation IB		-45.73	%	0.19	%	5.17	%

Russell 3000 Index		-37.31	%	-1.95	%	-0.80	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Saul J. Pannell, CFA	Mario E. Abularach, CFA, CMT	Jeffrey L. Kripke	David W. Palmer, CFA
Senior Vice President, Partner	Vice President	Vice President	Vice President

Nicolas M. Choumenkovitch	Peter I. Higgins, CFA	Paul E. Marrkand, CFA
Senior Vice President	Senior Vice President	Vice President

How did the Fund perform?

The Class IA shares of the Hartford Capital Appreciation HLS Fund returned -45.59% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the Russell 3000 Index, which returned -37.31% for the same period. The Fund also underperformed the -38.66% return of the average fund in the Lipper Multi-Cap Core VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?


		4

What is the outlook?

Diversification by Industry

as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		1.9	%

Banks		2.6

Capital Goods		9.8

Commercial & Professional Services		0.5

Consumer Durables & Apparel		0.7

Consumer Services		0.4

Diversified Financials		8.6

Energy		10.9

Finance		0.9

Food & Staples Retailing		0.5

Food, Beverage & Tobacco		3.0

Health Care Equipment & Services		6.3

Household & Personal Products		0.7

Insurance		5.2

Materials		4.7

Media		3.4

Other Investment Pools and Funds		0.7

Pharmaceuticals, Biotechnology & Life Sciences		12.2

Real Estate		0.5

Retailing		4.5

Semiconductors & Semiconductor Equipment		1.5

Software & Services		5.9

Technology Hardware & Equipment		7.9

Telecommunication Services		2.3

Transportation		1.3

Utilities		1.2

Short-Term Investments		1.0

Other Assets and Liabilities		0.9

Total		100.0	%


		5

Hartford Dividend and Growth HLS Fund inception 3/9/1994
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal – Seeks a high level of current income consistent with growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year		10 Year

Dividend and Growth IA		-32.43	%	0.96	%	2.49	%

Dividend and Growth IB		-32.60	%	0.70	%	2.26	%

Russell 1000 Value Index		-36.85	%	-0.79	%	1.36	%

S&P500 Index		-36.99	%	-2.19	%	-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Edward P. Bousa, CFA
Senior Vice President, Partner

How did the Fund perform?

Why did the Fund perform this way?

The Fund’s outperformance relative (i.e. performance of the Fund as measured against the benchmark) to the S&P 500 Index


		6

What is the outlook?

Diversification by Industry

as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.7	%

Banks		3.7

Capital Goods		9.0

Commercial & Professional Services		1.6

Diversified Financials		6.2

Energy		18.2

Food & Staples Retailing		2.3

Food, Beverage & Tobacco		4.2

Health Care Equipment & Services		2.4

Household & Personal Products		1.8

Insurance		4.8

Materials		3.7

Media		3.6

Pharmaceuticals, Biotechnology & Life Sciences		12.0

Retailing		1.3

Semiconductors & Semiconductor Equipment		1.3

Software & Services		3.1

Technology Hardware & Equipment		4.6

Telecommunication Services		6.0

Transportation		1.8

Utilities		6.1

Short-Term Investments		1.2

Other Assets and Liabilities		0.4

Total		100.0	%


		7

Hartford International Opportunities HLS Fund inception 7/2/1990
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

MSCI AC (All Country) World Free ex U.S. Index is a broad-based, unmanaged, market capitalization weighted, total return index that measures the performance of both developed and emerging stock markets, excluding the U.S. The index is calculated to exclude companies and share classes which cannot be freely purchased by foreigners.

Investment goal – Seeks long-term growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year		10 Year

International Opportunities IA		-42.25	%	4.39	%	2.47	%

International Opportunities IB		-42.39	%	4.13	%	2.23	%

MSCI AC (All Country) World Free ex U.S. Index		-45.24	%	3.00	%	2.27	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Nicolas M. Choumenkovitch
Senior Vice President and Partner

How did the Fund perform?

Why did the Fund perform this way?

2008 was one of the most volatile years in recent history. Markets fell to open the year and, despite a late-Spring rally, fell sharply in the second half as global economic news worsened. Events such as the near collapse of the large investment bank Bear Stearns, the government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual all highlighted the widespread destruction being wrought by a sudden withdrawal of credit from the global financial system. The global economy also weakened, sending energy and commodities prices lower. Equity investors reacted to these events by shedding risk, leading to large declines in every sector of the MSCI All Country World Free ex–U.S. Index. The hardest hit areas were Financials (-54%), Materials (-53%), and Industrials (-47%). Less economically-sensitive areas like Health Care (-19%), Utilities (-30%), and Consumer Staples (-31%) declined the least.


		8

What is the outlook?

Diversification by Industry

as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		1.7	%

Banks		7.3

Capital Goods		2.0

Commercial & Professional Services		0.4

Consumer Durables & Apparel		0.8

Consumer Services		1.1

Diversified Financials		5.5

Energy		9.4

Food, Beverage & Tobacco		10.5

Health Care Equipment & Services		1.9

Household & Personal Products		1.7

Insurance		3.1

Materials		6.6

Other Investment Pools and Funds		7.5

Pharmaceuticals, Biotechnology & Life Sciences		10.1

Real Estate		1.8

Retailing		1.6

Semiconductors & Semiconductor Equipment		1.2

Software & Services		0.8

Technology Hardware & Equipment		2.0

Telecommunication Services		11.7

Transportation		2.2

Utilities		4.1

Short-Term Investments		6.0

Other Assets and Liabilities		(1.0	)

Total		100.0	%

Diversification by Country

as of December 31, 2008


	Percentage of
Country	Net Assets

Brazil		1.0	%

Canada		4.1

China		0.4

Denmark		1.0

France		11.0

Germany		6.6

Hong Kong		1.5

India		0.5

Ireland		2.0

Israel		1.8

Italy		0.4

Japan		14.2

Luxembourg		0.6

Mexico		0.5

Netherlands		2.9

Russia		0.3

South Korea		0.6

Spain		2.9

Sweden		0.8

Switzerland		11.3

Taiwan		1.1

United Kingdom		22.0

United States		7.5

Short-Term Investments		6.0

Other Assets and Liabilities		(1.0	)

Total		100.0	%


		9

Hartford Small Company HLS Fund inception 8/9/1996
(subadvised by: Wellington Management Company, LLP
Hartford Investment Management Company)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

Russell 2000 Growth Index is an unmanaged index of those Russell 2000 Index growth companies with higher price-to-book ratios and higher forecasted growth values.

Investment goal — Seeks growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Small Company IA		-40.60	%		1.05	%		3.46	%

Small Company IB		-40.73	%		0.81	%		3.23	%

Russell 2000 Growth Index		-38.54	%		-2.35	%		-0.76	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Class IB shares commenced on May 1, 2002. Class IB share performance prior to that date reflects Class IA share performance adjusted to reflect the 12b-1 fee of 0.25% applicable to Class IB shares. The performance after such date reflects actual Class IB share performance.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

How did the Fund perform?

The Class IA shares of the Hartford Small Company HLS Fund returned -40.60% for the twelve-month period ended December 31, 2008, underperforming its benchmark, the Russell 2000 Growth Index, which returned -38.54% for the same period. The Fund outperformed the -41.12% return of the average fund in the Lipper Small Cap Growth VP-UF Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

On an individual stock basis, Focus Media (Consumer Discretionary) was the biggest setback to relative (i.e. performance of the Fund as measured against the benchmark)


		10

What is the outlook?

At the end of the period, 51% of the Fund’s assets were managed by Wellington Management Company and 49% were managed by Hartford Investment Management Company.

Diversification by Industry

as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.4	%

Banks		0.6

Capital Goods		9.4

Commercial & Professional Services		7.0

Consumer Durables & Apparel		3.4

Consumer Services		3.0

Diversified Financials		2.6

Energy		5.8

Food & Staples Retailing		1.2

Food, Beverage & Tobacco		1.7

Health Care Equipment & Services		9.1

Household & Personal Products		0.3

Insurance		3.6

Materials		2.4

Media		2.0

Other Investment Pools and Funds		0.5

Pharmaceuticals, Biotechnology & Life Sciences		11.2

Real Estate		0.7

Retailing		3.7

Semiconductors & Semiconductor Equipment		3.1

Software & Services		14.2

Technology Hardware & Equipment		5.2

Telecommunication Services		2.2

Transportation		2.8

Utilities		0.5

Short-Term Investments		3.0

Other Assets and Liabilities		0.4

Total		100.0	%


		11

Hartford Stock HLS Fund inception 8/31/1977
(subadvised by Wellington Management Company, LLP)

Performance Overview(1) 12/31/98 - 12/31/08
Growth of $10,000 investment

S&P 500 Index is a market capitalization weighted price index composed of 500 widely held common stocks.

Investment goal — Seeks long-term growth of capital.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Stock IA		-43.13	%		-4.64	%		-2.99	%

Stock IB		-43.27	%		-4.88	%		-3.21	%

S&P 500 Index		-36.99	%		-2.19	%		-1.38	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.


Portfolio Managers

Steven T. Irons, CFA		Peter I. Higgins, CFA
Senior Vice President, Partner		Senior Vice President and Partner

How did the Fund perform?

Why did the Fund perform this way?

The one-year period ended December 31, 2008 was one of the most volatile in history. After a positive start to the year, global equity markets stumbled as the widespread contraction in credit led to major changes in the financial landscape. These changes included the near collapse of the large investment bank Bear Stearns, government takeovers of Fannie Mae and Freddie Mac, the collapse of Lehman Brothers, the fall of insurance firm AIG, and the seizure of banking firm Washington Mutual. The global economy also weakened, sending energy and commodities prices lower. In response to increasing concerns about the financial system and a potential U.S. recession, equity investors sought to shed risk, punishing equity securities broadly.


		12

What is the outlook?

Diversification by Industry

as of December 31, 2008


	Percentage of
Industry	Net Assets

Automobiles & Components		0.5	%

Banks		4.4

Capital Goods		5.1

Commercial & Professional Services		0.4

Diversified Financials		11.7

Energy		13.6

Food & Staples Retailing		4.8

Food, Beverage & Tobacco		3.4

Health Care Equipment & Services		4.7

Household & Personal Products		0.5

Insurance		0.8

Materials		3.1

Media		5.1

Pharmaceuticals, Biotechnology & Life Sciences		11.3

Retailing		5.6

Semiconductors & Semiconductor Equipment		4.5

Software & Services		6.1

Technology Hardware & Equipment		8.0

Telecommunication Services		1.3

Transportation		4.4

Short-Term Investments		0.4

Other Assets and Liabilities		0.3

Total		100.0	%


		13

Hartford Total Return Bond HLS Fund inception 8/31/1977
(subadvised by Hartford Investment Management Company)

Performance Overview(1) 12/31/98 — 12/31/08
Growth of $10,000 investment

Investment goal — Seeks a competitive total return, with income as a secondary objective.

Average Annual Returns(2) (as of 12/31/08)


	1 Year			5 Year			10 Year

Total Return Bond IA		-7.62	%		1.67	%		4.40	%

Total Return Bond IB		-7.85	%		1.41	%		4.16	%

Barclays Capital U.S. Aggregate Bond Index		5.24	%		4.65	%		5.63	%

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

(1)		Growth of a $10,000 investment in Class IB shares will vary from the results seen on this page due to differences in the expense charged to this share class.
(2)		Performance for the periods when fee waivers were in place would have been lower in the absence of the waivers.

You cannot invest directly in an index.

The chart represents a hypothetical investment in the Fund. Performance data represents past performance and current performance could be higher or lower.

Portfolio Manager

Nasri Toutoungi
Managing Director

How did the Fund perform?

Why did the Fund perform this way?


		14

What is the outlook?

Distribution by Credit Quality

as of December 31, 2008


	Percentage of
	Long-Term
Rating	Holdings

AAA		59.9	%

AA		4.8

A		16.0

BBB		12.7

BB		4.7

B		1.4

CCC		0.1

NR		0.4

Total		100.0	%

Diversification by Industry

as of December 31, 2008


	Percentage of
Industry	Net Assets

Basic Materials		1.2	%

Capital Goods		1.0

Consumer Cyclical		2.2

Consumer Staples		2.1

Energy		2.0

Finance		22.3

Foreign Governments		5.5

General Obligations		0.2

Health Care		1.6

Services		2.0

Technology		7.3

Transportation		1.0

U.S. Government Agencies		35.5

U.S. Government Securities		3.8

Utilities		4.7

Short-Term Investments		6.0

Other Assets and Liabilities		1.6

Total		100.0	%

Distribution by Security Type

as of December 31, 2008


	Percentage of
Security Type	Net Assets

Asset & Commercial Mortgage Backed Securities		9.7	%

Corporate Bonds: Investment Grades		36.8

Corporate Bonds: Non-Investment Grades		2.7

Municipal Bonds		0.2

Senior Floating Rate Interests: Investment Grades		0.4

Senior Floating Rate Interests: Non-Investment Grades		3.3

U.S. Government Agencies		35.5

U.S. Government Securities		3.8

Short-Term Investments		6.0

Other Assets and Liabilities		1.6

Total		100.0	%


		15

Hartford Advisers HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 68.1%
		Automobiles & Components — 0.3%
	591	Honda Motor Co., Ltd.	$	12,567
		Banks — 2.9%
	768	Banco Itau Holding Financeira S.A. ADR		8,904
	5,123	National City Corp.		9,273
	597	Standard Chartered plc		7,747
	4,194	Washington Mutual, Inc. Private Placement (A)(H)		81
	3,042	Wells Fargo & Co.		89,691

				115,696

		Capital Goods — 3.5%
	511	Cummins, Inc.		13,664
	4,592	General Electric Co.		74,397
	742	Honeywell International, Inc.		24,344
	329	Siemens AG ADR		24,914

				137,319

		Commercial & Professional Services — 0.3%
	966	Monster Worldwide, Inc. (D)		11,675
		Diversified Financials — 7.9%
	691	Ameriprise Financial, Inc.		16,142
	3,458	Bank of America Corp.		48,681
	1,850	Citigroup, Inc.		12,416
	2,785	Discover Financial Services, Inc.		26,543
	575	Goldman Sachs Group, Inc.		48,558
	3,049	Invesco Ltd.		44,020
	2,785	JP Morgan Chase & Co.		87,805
	1,935	UBS AG ADR (D)		27,665

				311,830

		Energy — 9.5%
	803	Cameco Corp.		13,847
	257	Canadian Natural Resources Ltd. ADR		10,259
	360	Consol Energy, Inc.		10,283
	216	EnCana Corp.		10,040
	235	EOG Resources, Inc.		15,646
	1,251	Exxon Mobil Corp.		99,859
	1,037	Hess Corp.		55,635
	1,415	Marathon Oil Corp.		38,714
	1,402	OAO Gazprom Class S ADR		19,982
	233	Occidental Petroleum Corp.		13,984
	1,200	Petroleo Brasileiro S.A. ADR		29,381
	363	Reliance Industries GDR (I)		18,385
	299	Schlumberger Ltd.		12,657
	440	Suncor Energy, Inc. ADR		8,572
	474	XTO Energy, Inc.		16,707

				373,951

		Food & Staples Retailing — 3.3%
	1,594	Safeway, Inc.		37,882
	1,406	Supervalu, Inc.		20,526
	1,023	Walgreen Co.		25,228
	861	Wal-Mart Stores, Inc.		48,268

				131,904

		Food, Beverage & Tobacco — 2.4%
	5	Japan Tobacco, Inc.		15,732
	1,145	PepsiCo, Inc.		62,695
	619	Unilever N.V. NY Shares ADR		15,189

				93,616

		Health Care Equipment & Services — 3.2%
	101	Intuitive Surgical, Inc. (D)		12,775
	359	McKesson Corp.		13,908
	1,108	Medtronic, Inc.		34,804
	2,442	UnitedHealth Group, Inc.		64,965

				126,452

		Household & Personal Products — 0.4%
	225	Procter & Gamble Co.		13,934
		Insurance — 0.5%
	328	ACE Ltd.		17,355
	58	PartnerRe Ltd.		4,148

				21,503

		Materials — 2.0%
	1,089	Cliff’s Natural Resources, Inc.		27,887
	634	Freeport-McMoRan Copper & Gold, Inc.		15,493
	155	Monsanto Co.		10,876
	364	Potash Corp. of Saskatchewan, Inc.		26,615

				80,871

		Media — 3.5%
	4,138	Comcast Corp. Class A		69,846
	3,484	Time Warner, Inc.		35,050
	1,767	Viacom, Inc. Class B (D)		33,685

				138,581

		Pharmaceuticals, Biotechnology & Life Sciences — 7.5%
	422	AstraZeneca plc		17,533
	558	Bristol-Myers Squibb Co.		12,981
	539	Daiichi Sankyo Co., Ltd.		12,746
	36	Eisai Co., Ltd.		1,493
	3,161	Elan Corp. plc ADR (D)		18,964
	780	Eli Lilly & Co.		31,395
	806	Merck & Co., Inc.		24,499
	2,607	Schering-Plough Corp.		44,397
	1,200	Shionogi & Co., Ltd.		30,953
	486	UCB S.A.		15,945
	600	Vertex Pharmaceuticals, Inc. (D)		18,228
	1,743	Wyeth		65,376

				294,510

		Retailing — 4.0%
	564	Bed Bath & Beyond, Inc. (D)		14,329
	596	Best Buy Co., Inc.		16,765
	11,241	Buck Holdings L.P. (A)(D)(H)		10,825
	1,176	Kohl’s Corp. (D)		42,575
	1,049	Lowe’s Co., Inc.		22,583
	884	Nordstrom, Inc.		11,770
	2,159	Staples, Inc.		38,697

				157,544

		Semiconductors & Semiconductor Equipment — 3.2%
	2,797	Applied Materials, Inc.		28,337
	1,191	Lam Research Corp. (D)		25,342
	3,615	Maxim Integrated Products, Inc.		41,281
	2,048	Texas Instruments, Inc.		31,782

				126,742

		Software & Services — 4.1%
	475	Accenture Ltd. Class A		15,579
	1,859	Electronic Arts, Inc. (D)		29,822
	132	Google, Inc. (D)		40,517
	3,098	Microsoft Corp.		60,221

The accompanying notes are an integral part of these financial statements.


			Market
Shares			Value (W)
COMMON STOCK — (continued)

		Software & Services — (continued)
	1,159	Western Union Co.	$	16,613

				162,752

		Technology Hardware & Equipment — 5.6%
	568	Apple, Inc. (D)		48,479
	4,996	Cisco Systems, Inc. (D)		81,436
	3,183	Flextronics International Ltd. (D)		8,148
	1,763	NetApp, Inc. (D)		24,631
	1,160	Qualcomm, Inc.		41,566
	419	Research In Motion Ltd. (D)		16,987
	68	Seagate Technology		302

				221,549

		Telecommunication Services — 0.9%
	2,351	MetroPCS Communications, Inc. (D)		34,905
		Transportation — 3.1%
	3,859	Delta Air Lines, Inc. (D)		44,228
	553	FedEx Corp.		35,462
	799	United Parcel Service, Inc. Class B		44,056

				123,746

		Total common stock (cost $3,948,400)	$	2,691,647


WARRANTS — 0.0%
		Banks — 0.0%
	524	Washington Mutual, Inc. Private Placement (A)(H)	$	—

		Total warrants (cost $ — )	$	—


Principal
Amount

ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 2.2%
		Finance — 2.2%
		Banc of America Commercial Mortgage, Inc.
$	4,590	5.18%, 09/10/2047 (L)	$	3,762
		Citibank Credit Card Issuance Trust
	11,945	5.65%, 09/20/2019		9,753
		Commercial Mortgage Pass-Through Certificates
	5,000	5.12%, 06/10/2044		4,095
		Countrywide Home Loans, Inc.
	3,141	5.25%, 11/25/2035 (L)		1,636
		Credit Suisse Mortgage Capital Certificates
	7,365	5.47%, 09/15/2039		5,419
		Ford Credit Automotive Owner Trust
	6,236	5.26%, 10/15/2010		6,183
		GSR Mortgage Loan Trust
	6,788	5.78%, 05/25/2047 (L)		3,490
		Harley-Davidson Motorcycle Trust
	12,375	5.21%, 06/17/2013		11,841
		JP Morgan Chase Commercial Mortgage Security Corp.
	3,500	5.88%, 04/15/2045 (L)		2,792
		Marriott Vacation Club Owner Trust
	1,338	5.36%, 10/20/2028 (I)		1,088
		Merrill Automotive Trust Securitization
	796	5.43%, 01/15/2010		796
		Merrill Lynch Mortgage Trust
	5,000	5.05%, 07/12/2038		4,076
		Residential Accredit Loans, Inc.
	8,773	5.23%, 02/25/2035 (L)		4,579
		Sequoia Mortgage Trust
	9,513	5.81%, 02/20/2047 (L)		5,228
		USAA Automotive Owner Trust
	11,285	4.50%, 10/15/2013		10,084
		Wells Fargo Mortgage Backed Securities Trust
	7,331	4.55%, 03/25/2035 (L)		4,817
	10,488	5.54%, 04/25/2036 (L)		5,859
	5,071	6.03%, 09/25/2036 (L)		3,025

		Total asset & commercial mortgage backed securities (cost $120,379)	$	88,523


CORPORATE BONDS: INVESTMENT GRADE — 14.5%
		Capital Goods — 0.1%
		Xerox Corp.
$	6,000	5.50%, 05/15/2012	$	5,028
		Consumer Cyclical — 0.6%
		DaimlerChrysler NA Holdings Corp.
	5,400	5.88%, 03/15/2011		4,709
	9,550	6.50%, 11/15/2013		7,449
		Federated Retail Holdings, Inc.
	3,084	5.90%, 12/01/2016		1,873
		SCL Term Aereo Santiago S.A.
	9,504	6.95%, 07/01/2012 (I)		10,342

				24,373

		Consumer Staples — 0.9%
		Coca-Cola Enterprises, Inc.
	500	8.50%, 02/01/2022		584
		ConAgra Foods, Inc.
	6,537	7.88%, 09/15/2010		6,764
		PepsiAmericas, Inc.
	10,865	6.38%, 05/01/2009		10,917
		Procter & Gamble Co.
	11,715	9.36%, 01/01/2021		14,532
		Weyerhaeuser Co.
	2,975	7.38%, 03/15/2032		1,931

				34,728

		Energy — 0.4%
		Atmos Energy Corp.
	5,875	6.35%, 06/15/2017		5,205
		Weatherford International Ltd.
	11,000	5.95%, 06/15/2012		10,453

				15,658

		Finance — 8.7%
		Ace INA Holdings, Inc.
	700	5.88%, 06/15/2014		652
		American Express Centurion Bank
	12,670	6.00%, 09/13/2017		11,866
		American International Group, Inc.
	1,200	6.25%, 03/15/2037		449
		AXA Financial, Inc.
	15,000	7.00%, 04/01/2028		12,897
		Berkshire Hathaway Finance Corp.
	5,500	4.85%, 01/15/2015		5,509
		Brandywine Operating Partnership
	9,585	6.00%, 04/01/2016		5,229

The accompanying notes are an integral part of these financial statements.

Hartford Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Finance — (continued)
		Capital One Bank
$	3,750	6.50%, 06/13/2013	$	3,342
		Capital One Capital IV
	4,125	6.75%, 02/17/2037		1,883
		Capital One Financial Corp.
	3,900	5.70%, 09/15/2011		3,637
		Cincinnati Financial Corp.
	10,000	6.92%, 05/15/2028		8,651
		CIT Group, Inc.
	5,995	7.63%, 11/30/2012		5,061
		Citigroup, Inc.
	6,500	3.63%, 02/09/2009		6,467
	8,800	6.00%, 10/31/2033		7,742
	1,000	6.50%, 01/18/2011		1,004
		COX Communications, Inc.
	9,000	5.45%, 12/15/2014		7,871
		Credit Suisse First Boston USA, Inc.
	8,920	4.88%, 01/15/2015		8,056
		Developers Diversified Realty Corp.
	7,900	5.38%, 10/15/2012		3,313
		Discover Financial Services, Inc.
	7,220	6.45%, 06/12/2017		5,066
		Eaton Vance Corp.
	3,180	6.50%, 10/02/2017		2,818
		Everest Reinsurance Holdings, Inc.
	4,525	5.40%, 10/15/2014		3,089
		General Electric Capital Corp.
	12,000	6.75%, 03/15/2032		12,759
		Genworth Financial, Inc.
	8,000	6.15%, 11/15/2066		758
		Goldman Sachs Group, Inc.
	11,000	5.30%, 02/14/2012		10,382
	6,000	5.63%, 01/15/2017		5,155
	6,000	6.45%, 05/01/2036		4,660
		Health Care Properties
	9,780	6.00%, 01/30/2017		4,713
		HSBC Finance Corp.
	12,500	5.50%, 01/19/2016		11,871
		International Lease Finance Corp.
	10,500	5.00%, 09/15/2012		7,236
	6,350	5.63%, 09/15/2010		4,991
		Jackson National Life Insurance Co.
	12,650	8.15%, 03/15/2027 (I)		12,143
		John Deere Capital Corp.
	8,320	4.88%, 10/15/2010		8,397
		JP Morgan Chase & Co.
	10,375	5.13%, 09/15/2014		10,054
		KeyCorp Capital II
	750	6.88%, 03/17/2029		575
		Kimco Realty Corp.
	7,880	5.78%, 03/15/2016		5,000
		Liberty Mutual Group, Inc.
	8,750	5.75%, 03/15/2014 (I)		5,656
		Liberty Property L.P.
	1,325	6.63%, 10/01/2017		876
		Merrill Lynch & Co., Inc.
	11,000	5.00%, 02/03/2014		10,665
	1,000	6.40%, 08/28/2017		1,002
		Morgan Stanley
	13,000	5.38%, 10/15/2015		11,191
		National City Corp.
	4,250	6.88%, 05/15/2019		3,408
		New England Mutual Life Insurance Co.
	30,000	7.88%, 02/15/2024 (I)		27,382
		Prologis Trust
	6,500	5.63%, 11/15/2016		3,118
		Prudential Financial, Inc.
	8,000	5.50%, 03/15/2016		6,446
	3,500	5.80%, 06/15/2012		2,640
		Realty Income Corp.
	4,830	6.75%, 08/15/2019		2,795
		Republic New York Capital I
	500	7.75%, 11/15/2006		510
		Santander Central Hispano Issuances Ltd.
	1,250	7.63%, 11/03/2009		1,226
		Simon Property Group L.P.
	15,100	6.10%, 05/01/2016		9,649
		Sovereign Bancorp, Inc.
	4,795	8.75%, 05/30/2018		4,737
		Sovereign Capital Trust IV
	7,250	7.91%, 06/13/2036		4,803
		Torchmark Corp.
	14,600	8.25%, 08/15/2009		14,586
		UnitedHealth Group, Inc.
	2,500	5.50%, 11/15/2012		2,278
		Wachovia Corp.
	10,000	5.25%, 08/01/2014		9,315
		WEA Finance LLC
	5,000	7.13%, 04/15/2018 (I)		3,547
		Wells Fargo Bank NA
	13,000	4.75%, 02/09/2015		13,158

				342,284

		Health Care — 0.7%
		Becton, Dickinson & Co.
	9,000	6.70%, 08/01/2028		9,580
		CVS Corp.
	7,725	6.13%, 08/15/2016		7,484
		Schering-Plough Corp.
	9,000	5.55%, 12/01/2013		9,066

				26,130

		Services — 0.2%
		Comcast Corp.
	8,000	5.90%, 03/15/2016		7,638
		Wyndham Worldwide Corp.
	3,100	6.00%, 12/01/2016		1,250

				8,888

		Technology — 1.3%
		AT&T, Inc.
	2,510	6.80%, 05/15/2036 #		2,838
		BellSouth Telecommunications
	650	7.00%, 12/01/2095		509
		Fiserv, Inc.
	6,400	6.13%, 11/20/2012		6,013
		General Electric Co.
	12,925	5.00%, 02/01/2013		13,071
		Intuit, Inc.
	7,900	5.40%, 03/15/2012		7,179

The accompanying notes are an integral part of these financial statements.


Principal			Market
Amount			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Technology — (continued)
		Time Warner Cable, Inc.
$	4,580	5.85%, 05/01/2017	$	4,184
		Verizon Communications, Inc.
	5,000	5.35%, 02/15/2011		5,030
		Verizon Global Funding Corp.
	500	7.25%, 12/01/2010		524
	9,500	7.75%, 12/01/2030		10,535

				49,883

		Transportation — 0.3%
		Continental Airlines, Inc.
	4,140	5.98%, 04/19/2022		2,774
		Southwest Airlines Co.
	8,700	5.75%, 12/15/2016		6,110
	3,393	6.15%, 08/01/2022		2,477

				11,361

		Utilities — 1.3%
		Consolidated Edison Co. of NY
	4,605	5.30%, 12/01/2016		4,503
		Enel Finance International
	4,045	6.80%, 09/15/2037 (I)		3,106
		Indianapolis Power and Light
	8,000	6.60%, 06/01/2037 (I)		7,763
		Kinder Morgan Energy Partners L.P.
	10,000	6.95%, 01/15/2038		8,088
		MidAmerican Energy Co.
	6,000	5.65%, 07/15/2012		6,010
		Northern Border Pipeline Co.
	9,285	7.75%, 09/01/2009		9,341
		Southern California Edison Co.
	8,000	5.55%, 01/15/2037		8,426
		Taqa Abu Dhabi National Energy Co.
	3,200	5.62%, 10/25/2012 (I)		2,904
	3,335	5.88%, 10/27/2016 (I)		2,725
		TransCanada Pipelines Ltd.
	750	6.49%, 01/21/2009		750

				53,616

		Total corporate bonds: investment grade (cost $665,706)	$	571,949


MUNICIPAL BONDS — 0.5%
		General Obligations — 0.5%
		Oregon School Boards Association, Taxable Pension
$	10,000	4.76%, 06/30/2028	$	8,749
		State of Illinois, Taxable Pension
	10,000	5.10%, 06/01/2033		8,785

		Total municipal bonds (cost $19,888)	$	17,534


U.S. GOVERNMENT AGENCIES — 4.4%
		Federal Home Loan Mortgage Corporation — 1.1%
		Mortgage Backed Securities:
$	43,450	4.50%, 2036 (Q)	$	44,020
		Federal National Mortgage Association — 0.5%
		Mortgage Backed Securities:
	21,735	4.50%, 2039 (Q)		22,027
	101	6.50%, 2036 — 2038		105

				22,132

		Government National Mortgage Association — 1.6%
		Mortgage Backed Securities:
	38,456	5.50%, 2037		39,696
	7,553	6.00%, 2024 — 2035		7,836
	2,601	6.50%, 2026 — 2035		2,731
	9,643	7.00%, 2031 — 2033		10,115
	1,149	8.00%, 2026 — 2031		1,223
	408	8.00%, 2030 #		435
	93	9.00%, 2016 — 2022		99
		Remic — Pac’s:
	90	7.50%, 2035		94

				62,229

		Other Government Agencies — 1.2%
		Small Business Administration Participation Certificates:
	32,704	8.95%, 2022		46,534

		Total U.S. government agencies (cost $162,451)	$	174,915


U.S. GOVERNMENT SECURITIES — 9.0%
		Other Direct Federal Obligations — 3.6%
		Federal Financing Corporation:
$	6,500	5.24%, 2013	$	5,774
	11,117	5.25%, 2013		9,826

				15,600

		Tennessee Valley Authority:
	64,300	4.38%, 2015		69,650
	50,000	6.00%, 2013		56,672

				126,322

				141,922

		U.S. Treasury Securities — 5.4%
		U.S. Treasury Bonds:
	33,650	6.25%, 2023		45,896
		U.S. Treasury Notes:
	42,000	2.38%, 2010		43,275
	3,300	3.50%, 2010		3,417
	60,000	3.88%, 2018 #		68,419
	40,135	4.13%, 2010		42,513
	9,950	4.75%, 2012 #		11,137

				168,761

				214,657

		Total U.S. government securities (cost $323,801)	$	356,579

		Total long-term investments (cost $5,240,625)	$	3,901,147


SHORT-TERM INVESTMENTS — 0.8%
		Repurchase Agreements — 0.8%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $24, collateralized by U.S. Treasury Note 4.50%, 2009, value of $24)
$	24	0.03% dated 12/31/2008	$	24
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $10,208, collateralized by FNMA 5.00%, 2035 — 2038, value of $10,412)
	10,208	0.08% dated 12/31/2008		10,208

The accompanying notes are an integral part of these financial statements.

Hartford Advisers HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $449, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $458)
$	449	0.07% dated 12/31/2008			$	449
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,872, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $10,069)
	9,871	0.10% dated 12/31/2008				9,871
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,086, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $9,268)
	9,086	0.05% dated 12/31/2008				9,086
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,234, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $1,259)
	1,234	0.07% dated 12/31/2008				1,234

		Total short-term investments (cost $30,872)			$	30,872

		Total investments (cost $5,271,497) (C)	99.5	%	$	3,932,019
		Other assets and liabilities	0.5	%		21,506

		Total net assets	100.0	%	$	3,953,525


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 9.72% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $5,363,789 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	6,324
Unrealized Depreciation		(1,438,094	)

Net Unrealized Depreciation	$	(1,431,770	)


#		This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.

(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $10,906, which represents 0.28% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $95,041, which represents 2.40% of total net assets.

(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(Q)		The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2008 was $65,622.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
06/2007		11,241	Buck Holdings L.P.	$	11,253
04/2008		524	Washington Mutual, Inc. Private Placement Warrants		—
04/2008		4,194	Washington Mutual, Inc. Private Placement		36,700


		The aggregate value of these securities at December 31, 2008 was $10,906 which represents 0.28% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Japanese Yen (Sell)	$	1,262	$	1,266		01/05/09	$	4
Japanese Yen (Sell)		1,728		1,740		01/06/09		12
Japanese Yen (Sell)		1,914		1,923		01/07/09		9

							$	25


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Capital Appreciation HLS Fund

Schedule of Investments

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 96.5%
		Automobiles & Components — 1.9%
	119	Denso Corp.	$	2,020
	30,403	Ford Motor Co. (D)		69,623
	108	Gentex Corp.		956
	1,239	Michelin (C.G.D.E.) Class B		65,792
	1,068	TRW Automotive Holdings Corp. (D)		3,846

				142,237

		Banks — 2.6%
	153	Banco Itau Holding Financeira S.A. ADR		1,777
	1,029	HSBC Holding plc		10,221
	68	M&T Bank Corp.		3,881
	7,526	Mitsubishi UFJ Financial Group, Inc.		47,266
	122	Signature Bank (D)		3,494
	4,901	Standard Chartered plc		63,633
	101	US Bancorp		2,521
	469	Washington Mutual, Inc. Private Placement (A)(H)		9
	2,010	Wells Fargo & Co.		59,236

				192,038

		Capital Goods — 9.8%
	388	ABB Ltd. ADR		5,830
	165	Aecom Technology Corp. (D)		5,083
	86	Alliant Techsystems, Inc. (D)		7,350
	200	Babcock & Brown Air Ltd.		1,355
	2,000	Boeing Co.		85,340
	1,514	Capstone Turbine Corp. (D)		1,272
	304	Caterpillar, Inc.		13,562
	414	Cummins, Inc.		11,077
	143	Danaher Corp.		8,073
	319	Deere & Co.		12,239
	263	Dover Corp.		8,671
	81	Eaton Corp.		4,041
	278	Emerson Electric Co.		10,192
	190	Energy Conversion Devices, Inc. (D)		4,793
	311	Energy Focus, Inc. (D)		357
	290	First Solar, Inc. (D)		39,982
	100	Flowserve Corp.		5,171
	153	Fluor Corp.		6,850
	84	General Dynamics Corp.		4,815
	11,593	General Electric Co.		187,796
	205	Genesis Lease Ltd. ADR		579
	55	Granite Construction, Inc.		2,429
	8,159	Hansen Transmissions (D)		13,716
	393	Honeywell International, Inc.		12,889
	280	Ingersoll-Rand Co. Class A		4,865
	78	Jacobs Engineering Group, Inc. (D)		3,742
	217	Joy Global, Inc.		4,960
	199	Lockheed Martin Corp.		16,732
	433	Mitsui & Co., Ltd.		4,448
	259	Mueller Water Products, Inc.		2,173
	152	Pall Corp.		4,330
	143	Precision Castparts Corp.		8,488
	2,806	Raytheon Co.		143,233
	402	Siemens AG		30,466
	142	Sterling Construction Co., Inc. (D)		2,629
	1	Sunpower Corp. Class A (D)		18
	675	Sunpower Corp. Class B (D)		20,547
	1,000	Suntech Power Holdings Co., Ltd. ADR (D)		11,700
	27	United Technologies Corp.		1,462
	123	Vestas Wind Systems A/S (D)		7,247

				720,502

		Commercial & Professional Services — 0.5%
	436	American Ecology Corp.		8,814
	340	Covanta Holding Corp. (D)		7,469
	240	Mobile Mini, Inc. (D)		3,467
	1,408	Monster Worldwide, Inc. (D)		17,028

				36,778

		Consumer Durables & Apparel — 0.7%
	1,268	Liz Claiborne, Inc.		3,297
	183	MDC Holdings, Inc.		5,557
	2,900	Newell Rubbermaid, Inc.		28,362
	93	NIKE, Inc. Class B		4,728
	8	NVR, Inc. (D)		3,445
	219	Pool Corp.		3,941

				49,330

		Consumer Services — 0.4%
	51	Apollo Group, Inc. Class A (D)		3,869
	185	Ctrip.com International Ltd. ADR		4,396
	83	Darden Restaurants, Inc.		2,339
	38	ITT Educational Services, Incl. (D)		3,647
	14,416	Shangri-La Asia Ltd.		16,675

				30,926

		Diversified Financials — 8.6%
	343	Ameriprise Financial, Inc.		8,001
	6,362	Bank of America Corp.		89,577
	197	Capital One Financial Corp.		6,276
	883	CIT Group, Inc.		4,009
	8,583	Citigroup, Inc.		57,589
	528	Deutsche Boerse AG		38,404
	4,400	European Capital Ltd.		14,621
	1,854	Goldman Sachs Group, Inc.		156,515
	337	Invesco Ltd.		4,861
	618	JP Morgan Chase & Co.		19,484
	1,864	Julius Baer Holding Ltd.		72,104
	237	Moody’s Corp.		4,761
	2,742	Morgan Stanley		43,978
	1,422	Nasdaq Stock Market, Inc. (D)		35,142
	358	Oaktree Capital (D)(I)		6,802
	290	PennantPark Investment Corp.		1,045
	247	State Street Corp.		9,729
	531	TD Ameritrade Holding Corp. (D)		7,562
	1,118	UBS AG (D)		16,234
	2,178	UBS AG ADR (D)		31,146

				627,840

		Energy — 10.9%
	5,080	Acergy S.A.		29,470
	279	Apache Corp.		20,794
	143	Arena Resources, Inc. (D)		4,006
	241	Baker Hughes, Inc.		7,737
	142	Cabot Oil & Gas Corp.		3,692
	4,805	Cameco Corp.		82,887
	263	Canadian Natural Resources Ltd.		10,517
	139	Canadian Natural Resources Ltd. ADR		5,561
	151	Chesapeake Energy Corp.		2,447
	377	Consol Energy, Inc.		10,787

The accompanying notes are an integral part of these financial statements.

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Energy — (continued)
	63	Diamond Offshore Drilling, Inc.	$	3,733
	859	EnCana Corp.		39,903
	90	Exxon Mobil Corp.		7,177
	137	Forest Oil Corp. (D)		2,254
	5,211	Halliburton Co.		94,732
	592	Hess Corp.		31,743
	1,183	Lundin Petroleum Ab (D)		6,413
	80	Marathon Oil Corp.		2,181
	97	Massey Energy Co.		1,332
	600	National Oilwell Varco, Inc. (D)		14,671
	537	Newfield Exploration Co. (D)		10,614
	359	Noble Energy, Inc.		17,665
	2,313	OAO Gazprom Class S ADR		32,952
	1,412	Occidental Petroleum Corp.		84,694
	1,649	OMV AG		44,041
	367	Petroleo Brasileiro S.A. ADR		8,978
	93	Range Resources Corp.		3,195
	202	SBM Offshore N.V.		2,666
	145	Schlumberger Ltd.		6,134
	176	Smith International, Inc.		4,024
	447	Suncor Energy, Inc. ADR		8,713
	549	Talisman Energy, Inc.		5,483
	290	Total S.A.		16,025
	156	Total S.A. ADR		8,632
	59	Transocean, Inc. (D)		2,806
	319	Ultra Petroleum Corp. (D)		11,012
	1,961	Uranium One, Inc. (D)		2,884
	689	USEC, Inc. (D)		3,091
	3,768	Weatherford International Ltd. (D)		40,762
	116	Whiting Petroleum Corp. (D)		3,888
	2,694	XTO Energy, Inc.		95,004

				795,300

		Food & Staples Retailing — 0.5%
	95	Sysco Corp.		2,168
	610	Wal-Mart Stores, Inc.		34,174

				36,342

		Food, Beverage & Tobacco — 3.0%
	584	Altria Group, Inc.		8,794
	84	Campbell Soup Co.		2,512
	4,440	Chaoda Modern Agriculture		2,853
	3,322	Cosan Ltd. (D)		11,492
	2,925	Cosan S.A. Industria E Comercio (D)		14,202
	474	Dean Foods Co. (D)		8,511
	147	Groupe Danone		8,939
	645	Imperial Tobacco Group plc		17,485
	2	Japan Tobacco, Inc.		7,623
	191	Kellogg Co.		8,353
	15,122	Marine Harvest (D)		2,332
	276	Molson Coors Brewing Co.		13,512
	1,334	Nestle S.A.		52,715
	143	Nestle S.A. ADR		5,665
	259	PepsiCo, Inc.		14,169
	390	Philip Morris International, Inc.		16,973
	59	Ralcorp Holdings, Inc. (D)		3,428
	329	SABMiller plc		5,598
	516	Smithfield Foods, Inc. (D)		7,260
	393	Unilever N.V. NY Shares ADR		9,641

				222,057

		Health Care Equipment & Services — 6.3%
	1,741	ATS Medical, Inc. (D)		4,840
	146	Becton, Dickinson & Co.		9,978
	2,210	Boston Scientific Corp. (D)		17,106
	276	China Medical Technologies, Inc. ADR		5,596
	244	CIGNA Corp.		4,111
	1,004	Covidien Ltd.		36,354
	306	Humana, Inc. (D)		11,404
	62	Intuitive Surgical, Inc. (D)		7,931
	1,755	McKesson Corp.		67,998
	2,726	Medtronic, Inc.		85,645
	245	St. Jude Medical, Inc. (D)		8,069
	6,796	UnitedHealth Group, Inc.		180,778
	331	Varian Medical Systems, Inc. (D)		11,581
	474	Volcano Corp. (D)		7,109
	198	Zoll Medical Corp. (D)		3,742

				462,242

		Household & Personal Products — 0.7%
	1,934	Bare Escentuals, Inc. (D)		10,112
	143	Colgate-Palmolive Co.		9,788
	75	Herbalife Ltd.		1,619
	139	Kimberly-Clark Corp.		7,304
	101	L’Oreal S.A.		8,894
	243	Procter & Gamble Co.		15,041

				52,758

		Insurance — 5.2%
	4,950	ACE Ltd.		261,960
	102	Allied World Assurance Holdings Ltd.		4,129
	85	Chubb Corp.		4,320
	168	Everest Re Group Ltd.		12,822
	199	Fidelity National Financial, Inc.		3,523
	117	First American Financial Corp.		3,392
	410	Marsh & McLennan Cos., Inc.		9,960
	1,022	MetLife, Inc.		35,624
	66	Muenchener Rueckversicherungs-Gesellschaft AG		10,109
	63	PartnerRe Ltd.		4,497
	147	Platinum Underwriters Holdings Ltd.		5,300
	159	Reinsurance Group of America, Inc.		6,817
	252	Travelers Cos., Inc.		11,395
	132	W.R. Berkley Corp.		4,077

				377,925

		Materials — 4.7%
	175	Alcoa, Inc.		1,974
	1,472	Aracruz Celulose S.A. ADR		16,602
	317	BHP Billiton plc		6,236
	79	Celanese Corp.		978
	397	Cemex S.A. de C.V. ADR (D)		3,627
	595	Cliff’s Natural Resources, Inc.		15,240
	1,953	Companhia Vale do Rio Doce ADR		23,658
	307	CRH plc		7,921
	228	FMC Corp.		10,189
	280	Freeport-McMoRan Copper & Gold, Inc.		6,835
	58	Monsanto Co.		4,087
	437	Mosaic Co.		15,111
	64	Nucor Corp.		2,947
	382	Owens-Illinois, Inc. (D)		10,426
	898	Potash Corp. of Saskatchewan, Inc.		65,743
	1,492	Praxair, Inc.		88,589

The accompanying notes are an integral part of these financial statements.


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Materials — (continued)
	469	Rexam plc	$	2,435
	462	Rio Tinto plc		10,426
	554	Smurfit-Stone Container Corp. (D)		141
	356	Solutia, Inc. (D)		1,601
	74	Syngenta AG ADR		2,885
	5,407	Vedanta Resources plc		49,272

				346,923

		Media — 3.4%
	632	Comcast Corp. Class A		10,663
	716	Comcast Corp. Special Class A		11,555
	231	DreamWorks Animation SKG, Inc. (D)		5,840
	1,742	Focus Media Holding Ltd. ADR (D)		15,829
	30	Harvey Weinstein Co. Holdings Class A-1 (A)(D)(H)		8,195
	406	Marvel Entertainment, Inc. (D)		12,484
	7,800	News Corp. Class A		70,902
	384	R.H. Donnelley Corp. (D)		142
	78	Scripps Networks Interactive Class A		1,725
	1,140	Viacom, Inc. Class B (D)		21,727
	672	Virgin Media, Inc.		3,355
	3,832	Walt Disney Co.		86,955

				249,372

		Pharmaceuticals, Biotechnology & Life Sciences — 12.2%
	1,341	Abbott Laboratories		71,564
	146	Alkermes, Inc. (D)		1,556
	997	Amgen, Inc. (D)		57,577
	523	Amylin Pharmaceuticals, Inc. (D)		5,672
	294	AstraZeneca plc ADR		12,042
	141	Auxilium Pharmaceuticals, Inc. (D)		4,021
	1,505	Bristol-Myers Squibb Co.		34,981
	428	Charles River Laboratories International, Inc. (D)		11,211
	153	Cubist Pharmaceuticals, Inc. (D)		3,684
	2,792	Elan Corp. plc ADR (D)		16,750
	353	Eli Lilly & Co.		14,219
	546	Genentech, Inc. (D)		45,243
	371	Genzyme Corp. (D)		24,637
	107	Gilead Sciences, Inc. (D)		5,452
	212	Icon plc ADR (D)		4,166
	315	Impax Laboratories, Inc. (A)(D)(H)		2,520
	315	Johnson & Johnson		18,829
	155	Life Technologies Corp. (D)		3,615
	1,470	Merck & Co., Inc.		44,691
	4,433	Novavax, Inc. (D)		8,380
	179	PerkinElmer, Inc.		2,487
	320	Pharmaceutical Product Development, Inc.		9,269
	1,020	Roche Holding AG		157,636
	9,401	Schering-Plough Corp.		160,108
	21	Shionogi & Co., Ltd.		542
	3,382	Teva Pharmaceutical Industries Ltd. ADR		143,946
	61	Theravance, Inc. (D)		755
	125	UCB S.A.		4,098
	512	Wyeth		19,213

				888,864

		Real Estate — 0.5%
	192	Annaly Capital Management, Inc.		3,053
	323	British Land Co. plc		2,628
	1,887	Brookfield Asset Management, Inc.		28,821
	1,793	Eurocastle Investment Ltd.		562

				35,064

		Retailing — 4.5%
	253	Advance Automotive Parts, Inc.		8,510
	72	AutoZone, Inc. (D)		10,042
	120	Best Buy Co., Inc.		3,379
	402	Big Lots, Inc. (D)		5,826
	29,056	Buck Holdings L.P. (A)(D)(H)		27,980
	266	Dick’s Sporting Goods, Inc. (D)		3,757
	744	GameStop Corp. Class A (D)		16,115
	243	Gap, Inc.		3,255
	280	Home Depot, Inc.		6,455
	143	Industria de Diseno Textil S.A.		6,390
	391	Kohl’s Corp. (D)		14,156
	156	Limited Brands, Inc.		1,562
	429	Nordstrom, Inc.		5,710
	443	Nutri/System, Inc.		6,460
	550	OfficeMax, Inc.		4,199
	635	Priceline.com, Inc. (D)		46,738
	8,112	Staples, Inc.		145,368
	348	TJX Cos., Inc.		7,150
	248	Urban Outfitters, Inc. (D)		3,711

				326,763

		Semiconductors & Semiconductor Equipment — 1.5%
	788	Altera Corp.		13,166
	147	Analog Devices, Inc.		2,790
	3,500	Broadcom Corp. Class A (D)		59,395
	469	Intel Corp.		6,870
	309	Lam Research Corp. (D)		6,569
	544	Marvell Technology Group Ltd. (D)		3,629
	223	Maxim Integrated Products, Inc.		2,550
	1,367	ON Semiconductor Corp. (D)		4,647
	407	Varian Semiconductor Equipment Associates, Inc. (D)		7,367
	302	Xilinx, Inc.		5,387

				112,370

		Software & Services — 5.9%
	146	Accenture Ltd. Class A		4,777
	123	Adobe Systems, Inc. (D)		2,619
	378	Akamai Technologies, Inc. (D)		5,698
	545	Amdocs Ltd. (D)		9,963
	499	Ariba, Inc. (D)		3,596
	174	Baidu.com ADR (D)		22,693
	347	BMC Software, Inc. (D)		9,338
	275	CACI International, Inc. Class A (D)		12,400
	80	Concur Technologies, Inc. (D)		2,616
	465	Electronic Arts, Inc. (D)		7,458
	164	Equinix, Inc. (D)		8,734
	396	Giant Interactive Group, Inc. ADR (D)		2,571
	229	Google, Inc. (D)		70,489
	137	MasterCard, Inc.		19,567
	1,000	McAfee, Inc. (D)		34,570
	2,237	Microsoft Corp.		43,488
	69	Netease.com, Inc. (D)		1,518
	3	Nintendo Co., Ltd.		1,298
	5,239	Oracle Corp. (D)		92,887

The accompanying notes are an integral part of these financial statements.

Hartford Capital Appreciation HLS Fund

Schedule of Investments — (continued)

December 31, 2008

(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — (continued)
		Software & Services — (continued)
	92	Shanda Interactive Entertainment Ltd. ADR (D)	$	2,966
	445	Solera Holdings, Inc. (D)		10,724
	245	UbiSoft Entertainment S.A. (D)		4,839
	188	Visa, Inc.		9,857
	3,024	Western Union Co.		43,366

				428,032

		Technology Hardware & Equipment — 7.9%
	25	Apple, Inc. (D)		2,100
	352	Arrow Electronics, Inc. (D)		6,624
	77	Canon, Inc.		2,447
	9,837	Cisco Systems, Inc. (D)		160,341
	692	Corning, Inc.		6,590
	2,051	EMC Corp. (D)		21,475
	478	Emulex Corp. (D)		3,339
	1,806	Flextronics International Ltd. (D)		4,622
	83	FLIR Systems, Inc. (D)		2,537
	2,481	Hewlett-Packard Co.		90,026
	29,987	Hon Hai Precision Industry Co., Ltd.		59,175
	1,348	International Business Machines Corp.		113,414
	649	JDS Uniphase Corp. (D)		2,367
	595	NetApp, Inc. (D)		8,314
	115	Nice Systems Ltd. (D)		2,593
	471	QLogic Corp. (D)		6,336
	1,861	Qualcomm, Inc.		66,657
	248	Research In Motion Ltd. (D)		10,057
	1,060	Seagate Technology		4,697
	75	Solar Cayman Ltd. (A)(D)(H)		875

				574,586

		Telecommunication Services — 2.3%
	3,495	AT&T, Inc.		99,616
	134	Brasil Telecom S.A. ADR		2,403
	1,477	MetroPCS Communications, Inc. (D)		21,934
	874	Mobile Telesystems OJSC ADR		23,321
	393	Orascom Telecom Holding SAE GDR		10,726
	6,406	Vodafone Group plc		13,313

				171,313

		Transportation — 1.3%
	91	C.H. Robinson Worldwide, Inc.		4,991
	3,709	Delta Air Lines, Inc. (D)		42,509
	104	FedEx Corp.		6,659
	596	Heartland Express, Inc.		9,385
	321	Hub Group, Inc. (D)		8,508
	60	Norfolk Southern Corp.		2,828
	124	Ryanair Holdings plc ADR (D)		3,603
	7,490	Shun Tak Holdings Ltd.		2,077
	111	United Parcel Service, Inc. Class B		6,134
	798	US Airways Group, Inc. (D)		6,172

				92,866

		Utilities — 1.2%
	4,535	AES Corp. (D)		37,369
	57	Exelon Corp.		3,158
	453	Northeast Utilities		10,895
	924	NRG Energy, Inc. (D)		21,548
	241	Progress Energy, Inc.		9,620
	91	UGI Corp.		2,217

				84,807

		Total common stock (cost $9,824,190)	$	7,057,235
WARRANTS — 0.0%
		Banks — 0.0%
	59	Washington Mutual, Inc. Private Placement (A)(H)		—
		Capital Goods — 0.0%
	150	Capstone Turbine Corp. (H)		—
		Pharmaceuticals, Biotechnology & Life Sciences — 0.0%
	510	Novavax, Inc. (H)		—

		Total warrants (cost $— )	$	—
EXCHANGE TRADED FUNDS — 0.7%
		Other Investment Pools and Funds — 0.7%
	145	iShares MSCI EAFE Index Fund	$	6,506
	123	iShares MSCI Emerging Markets Index Fund		3,069
	282	S & P 500 Depositary Receipt		25,430
	180	S & P Mid-Cap 400 Depositary Receipts		17,518

		Total exchange traded funds (cost $55,649)	$	52,523


Principal
Amount

CORPORATE BONDS: INVESTMENT GRADE — 0.9%
		Finance — 0.9%
		MBIA Insurance Co.
$	53,500	14.00%, 01/15/2033 (I)(L)	$	27,285
		Morgan Stanley
	31,920	4.75%, 04/01/2014		24,319
		UBS Luxembourg S.A.
	24,760	6.23%, 02/11/2015		15,599

		Total corporate bonds: investment grade (cost $99,749)	$	67,203

		Total long-term investments (cost $9,979,588)	$	7,176,961
SHORT-TERM INVESTMENTS — 1.0%
		Repurchase Agreements — 1.0%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $55, collateralized by U.S. Treasury Note 4.50%, 2009, value of $56)
$	55	0.03% dated 12/31/2008	$	55
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $23,827, collateralized by FNMA 5.00%, 2035 — 2038, value of $24,303)
	23,827	0.08% dated 12/31/2008		23,827
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,047, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $1,068)
	1,047	0.07% dated 12/31/2008		1,047

The accompanying notes are an integral part of these financial statements.


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)


		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $23,041, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $23,502)
$	23,041	0.10% dated 12/31/2008			$	23,041
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $21,208, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $21,632)
	21,208	0.05% dated 12/31/2008				21,208
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,880, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $2,938)
	2,880	0.07% dated 12/31/2008				2,880

		Total short-term investments (cost $72,058)			$	72,058
		Total investments (cost $10,051,646) (C)	99.1	%	$	7,249,019
		Other assets and liabilities	0.9	%		64,030

		Total net assets	100.0	%	$	7,313,049


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 23.01% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $10,612,229 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	255,265
Unrealized Depreciation		(3,618,475	)

Net Unrealized Depreciation	$	(3,363,210	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $39,579, which represents 0.54% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $34,087, which represents 0.47% of total net assets.

(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis

06/2007		29,056	Buck Holdings L.P.	$	29,086
09/2008		150	Capstone Turbine Corp. Warrants		—
10/2005		30	Harvey Weinstein Co. Holdings Class A-1 - Reg D		27,951
01/2007 –		315	Impax Laboratories, Inc.		3,114
11/2007
07/2008		510	Novavax, Inc. Warrants		—
03/2007		75	Solar Cayman Ltd. - 144A		1,121
04/2008		59	Washington Mutual, Inc. Private Placement Warrants		—
04/2008		469	Washington Mutual, Inc. Private Placement		4,100


		The aggregate value of these securities at December 31, 2008 was $39,579 which represents 0.54% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Australian Dollar (Sell)	$	829	$	808		01/02/09	$	(21	)
British Pound (Buy)		17		17		01/05/09		—
Danish Krone (Sell)		1,218		1,216		01/02/09		(2	)
Danish Krone (Sell)		805		817		01/05/09		12
Euro (Sell)		9,167		9,284		01/02/09		117
Euro (Buy)		18		18		01/05/09		—
Euro (Sell)		2,892		2,917		01/05/09		25
Euro (Buy)		9		9		01/06/09		—
Hong Kong Dollar (Sell)		324		324		01/02/09		—
Hong Kong Dollar (Buy)		29		29		01/05/09		—
Hong Kong Dollar (Sell)		92		92		01/05/09		—
Hong Kong Dollar (Sell)		422		422		01/05/09		—
Japanese Yen (Buy)		51		51		01/07/09		—

							$	131


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Dividend and Growth HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 98.4%
		Automobiles & Components — 0.7%
	1,543	Honda Motor Co., Ltd. ADR	$	32,930

		Banks — 3.7%
	1,138	Comerica, Inc.		22,587
	437	M&T Bank Corp.		25,100
	702	PNC Financial Services Group, Inc.		34,417
	1,144	Synovus Financial Corp.		9,498
	716	US Bancorp		17,900
	1,554	Washington Mutual, Inc. Private Placement (A)(H)		30
	1,786	Wells Fargo & Co.		52,651

				162,183

		Capital Goods — 9.0%
	237	Caterpillar, Inc.		10,573
	1,588	Deere & Co.		60,868
	492	Eaton Corp.		24,447
	4,248	General Electric Co.		68,811
	533	Honeywell International, Inc.		17,485
	858	Illinois Tool Works, Inc.		30,055
	699	Lockheed Martin Corp.		58,764
	396	PACCAR, Inc.		11,337
	789	Parker-Hannifin Corp.		33,556
	1,188	Pentair, Inc.		28,108
	592	Siemens AG ADR		44,829
	947	Spirit Aerosystems Holdings, Inc. (D)		9,628

				398,461

		Commercial & Professional Services — 1.6%
	1,080	Pitney Bowes, Inc.		27,506
	1,301	Waste Management, Inc.		43,112

				70,618

		Diversified Financials — 6.2%
	3,446	Bank of America Corp.		48,518
	1,072	Capital One Financial Corp.		34,192
	180	Goldman Sachs Group, Inc.		15,173
	1,609	JP Morgan Chase & Co.		50,741
	1,547	Morgan Stanley		24,811
	1,459	State Street Corp.		57,375
	2,828	UBS AG ADR (D)		40,445

				271,255

		Energy — 18.2%
	1,929	Anadarko Petroleum Corp.		74,378
	876	BP plc ADR		40,940
	2,453	Chevron Corp.		181,449
	283	ConocoPhillips Holding Co.		14,639
	1,249	EnCana Corp.		58,038
	1,901	Exxon Mobil Corp.		151,738
	2,208	Marathon Oil Corp.		60,405
	939	Schlumberger Ltd.		39,739
	2,029	Total S.A. ADR		112,176
	1,878	XTO Energy, Inc.		66,242

				799,744

		Food & Staples Retailing — 2.3%
	718	Sysco Corp.		16,464
	792	Walgreen Co.		19,548
	1,158	Wal-Mart Stores, Inc.		64,940

				100,952

		Food, Beverage & Tobacco — 4.2%
	1,659	Nestle S.A. ADR		65,874
	949	PepsiCo, Inc.		51,966
	639	Philip Morris International, Inc.		27,794
	1,534	SABMiller plc		26,031
	451	Unilever N.V.		11,072

				182,737

		Health Care Equipment & Services — 2.4%
	1,836	Medtronic, Inc.		57,697
	1,772	UnitedHealth Group, Inc.		47,140

				104,837

		Household & Personal Products — 1.8%
	781	Kimberly-Clark Corp.		41,174
	644	Procter & Gamble Co.		39,831

				81,005

		Insurance — 4.8%
	1,312	ACE Ltd.		69,441
	846	Marsh & McLennan Cos., Inc.		20,542
	1,899	MetLife, Inc.		66,182
	757	Principal Financial Group, Inc.		17,092
	439	Prudential Financial, Inc.		13,299
	564	Travelers Cos., Inc.		25,475

				212,031

		Materials — 3.7%
	1,115	Agrium U.S., Inc.		38,038
	393	Air Products and Chemicals, Inc.		19,766
	856	Barrick Gold Corp.		31,471
	546	BHP Billiton Ltd. ADR		23,415
	234	E.I. DuPont de Nemours & Co.		5,911
	2,524	International Paper Co.		29,782
	1,049	Rhodia S.A. ADR		6,661
	129	Rohm & Haas Co.		7,945

				162,989

		Media — 3.6%
	2,684	Comcast Corp. Class A		45,299
	1,004	Comcast Corp. Special Class A		16,215
	777	McGraw-Hill Cos., Inc.		18,026
	2,692	Time Warner, Inc.		27,084
	953	Viacom, Inc. Class B (D)		18,167
	1,491	Walt Disney Co.		33,828

				158,619

		Pharmaceuticals, Biotechnology & Life Sciences — 12.0%
	1,085	Abbott Laboratories		57,885
	1,230	AstraZeneca plc ADR		50,455
	2,631	Bristol-Myers Squibb Co.		61,162
	2,807	Eli Lilly & Co.		113,038
	1,760	Merck & Co., Inc.		53,498
	1,205	Sanofi-Aventis S.A. ADR		38,756
	4,320	Schering-Plough Corp.		73,576
	538	Teva Pharmaceutical Industries Ltd. ADR		22,894
	1,561	Wyeth		58,568

				529,832

		Retailing — 1.3%
	1,188	Limited Brands, Inc.		11,925
	2,547	Staples, Inc.		45,633

				57,558

		Semiconductors & Semiconductor Equipment — 1.3%
	1,735	Applied Materials, Inc.		17,575
	1,044	Intel Corp.		15,311

The accompanying notes are an integral part of these financial statements.


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		Semiconductors & Semiconductor Equipment — (continued)
	2,074	Maxim Integrated Products, Inc.			$	23,687

						56,573

		Software & Services — 3.1%
	1,563	Accenture Ltd. Class A				51,264
	1,097	Automatic Data Processing, Inc.				43,136
	2,089	Microsoft Corp.				40,618

						135,018

		Technology Hardware & Equipment — 4.6%
	1,089	Avnet, Inc. (D)				19,838
	2,926	Corning, Inc.				27,889
	1,419	International Business Machines Corp.				119,406
	4,627	Xerox Corp.				36,879

						204,012

		Telecommunication Services — 6.0%
	7,293	AT&T, Inc.				207,855
	1,621	Verizon Communications, Inc.				54,967

						262,822

		Transportation — 1.8%
	890	FedEx Corp.				57,113
	2,804	Southwest Airlines Co.				24,172

						81,285

		Utilities — 6.1%
	1,861	Dominion Resources, Inc.				66,698
	1,303	Exelon Corp.				72,433
	1,391	FPL Group, Inc.				70,009
	1,242	PG&E Corp.				48,086
	429	Veolia Environment ADR				13,610

						270,836

		Total common stock (cost $5,073,567)			$	4,336,297



WARRANTS — 0.0%
		Banks — 0.0%
	194	Washington Mutual, Inc. Private Placement (A)(H)			$	—

		Total warrants (cost $—)			$	—

		Total long-term investments (cost $5,073,567)			$	4,336,297


Principal
Amount
SHORT-TERM INVESTMENTS — 1.2%
		Repurchase Agreements — 1.2%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $39, collateralized by U.S. Treasury Note 4.50%, 2009, value of $39)
$	39	0.03% dated 12/31/2008			$	39
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $16,718, collateralized by FNMA 5.00%, 2035 — 2038, value of $17,053)
	16,718	0.08% dated 12/31/2008				16,718
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $735, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $750)
	735	0.07% dated 12/31/2008				735
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $16,167, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $16,491)
	16,167	0.10% dated 12/31/2008				16,167
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $14,881, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $15,179)
	14,881	0.05% dated 12/31/2008				14,881
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,021, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $2,061)
	2,021	0.07% dated 12/31/2008				2,021

		Total short-term investments (cost $50,561)			$	50,561

		Total investments (cost $5,124,128) (C)	99.6	%	$	4,386,858
		Other assets and liabilities	0.4	%		18,894

		Total net assets	100.0	%	$	4,405,752


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 14.18% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $5,144,313 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	318,796
Unrealized Depreciation		(1,076,251	)

Net Unrealized Depreciation	$	(757,455	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $30, which represents 0.00% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
07/2008		194	Washington Mutual, Inc. Private Placement Warrants	$	—
04/2008		1,554	Washington Mutual, Inc. Private Placement		13,600


		The aggregate value of these securities at December 31, 2008 was $30 which represents 0.00% of total net assets.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford International Opportunities HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 87.5%
		Brazil — 1.0%
	1,061	Companhia Vale do Rio Doce ADR	$	12,843
		Canada — 4.1%
	682	Brookfield Asset Management, Inc.		10,394
	441	Canadian Natural Resources Ltd.		17,660
	253	EnCana Corp.		11,834
	—	Nortel Networks Corp. (D)		—
	306	Toronto-Dominion Bank		10,916

				50,804

		China — 0.4%
	1,672	China Life Insurance Co., Ltd.		5,137
		Denmark — 1.0%
	233	Novo Nordisk A/S		12,083
		France — 11.0%
	1,250	France Telecom S.A.		35,022
	351	Groupe Danone		21,337
	238	L’Oreal S.A.		20,874
	203	Michelin (C.G.D.E.) Class B		10,793
	144	Societe Generale Class A		7,329
	740	Total S.A.		40,862

				136,217

		Germany — 6.6%
	140	Allianz SE		14,959
	312	Deutsche Boerse AG		22,682
	243	E.On AG		9,431
	31	Man AG		1,800
	121	Muenchener Rueckversicherungs- Gesellschaft AG		18,670
	99	SAP AG		3,574
	130	Siemens AG		9,885

				81,001

		Hong Kong — 1.5%
	984	Esprit Holdings Ltd.		5,604
	11,436	Shangri-La Asia Ltd.		13,228

				18,832

		India — 0.5%
	245	Reliance Industries, Ltd.		6,227
		Ireland — 2.0%
	518	CRH plc		13,386
	1,025	Ryanair Holdings plc (D)		4,370
	227	Ryanair Holdings plc ADR (D)		6,605

				24,361

		Israel — 1.8%
	525	Teva Pharmaceutical Industries Ltd. ADR		22,362
		Italy — 0.4%
	2,016	Unicredit S.p.A.		5,152
		Japan — 14.2%
	207	Astellas Pharma, Inc.		8,450
	324	Canon, Inc.		10,245
	599	Denso Corp.		10,144
	2	East Japan Railway Co. (A)(H)		16,784
	282	Eisai Co., Ltd.		11,759
	4	Japan Tobacco, Inc.		14,252
	831	Mitsubishi Estate Co., Ltd.		13,717
	16	Nintendo Co., Ltd.		6,071
	5	Nippon Telegraph & Telephone Corp. (A)(H)		26,738
	46	Nitori Co., Ltd.		3,565
	524	Olympus Corp.		10,482
	101	Secom Co., Ltd.		5,218
	773	Softbank Corp.		14,026
	4	Sumitomo Mitsui Financial Group, Inc. (A)(H)		15,024
	2,045	Toshiba Corp.		8,408

				174,883

		Luxembourg — 0.6%
	306	Arcelor		7,460
		Mexico — 0.5%
	688	Cemex S.A. de C.V. ADR (D)		6,289
		Netherlands — 2.9%
	1,798	Koninklijke (Royal) KPN N.V.		26,263
	364	Unilever N.V. CVA		8,867

				35,130

		Russia — 0.3%
	154	Mobile Telesystems OJSC ADR		4,101
		South Korea — 0.6%
	19	Samsung Electronics Co., Ltd.		6,940
		Spain — 2.9%
	1,198	Banco Bilbao Vizcaya Argentaria S.A.		14,919
	562	Enagas		12,472
	172	Industria de Diseno Textil S.A.		7,710

				35,101

		Sweden — 0.8%
	315	Assa Abloy AB		3,705
	395	Atlas Copco Ab		3,516
	79	Hennes & Mauritz Ab		3,160

				10,381

		Switzerland — 11.3%
	414	Julius Baer Holding Ltd.		16,035
	965	Nestle S.A.		38,161
	268	Novartis AG		13,406
	195	Roche Holding AG		30,113
	99	Synthes, Inc.		12,554
	2,050	UBS AG (D)		29,769

				140,038

		Taiwan — 1.1%
	2,815	Hon Hai Precision Industry Co., Ltd.		5,555
	1,003	Taiwan Semiconductor Manufacturing Co., Ltd. ADR		7,923

				13,478

		United Kingdom — 22.0%
	632	AstraZeneca plc		26,252
	1,048	BG Group plc		14,728
	1,386	BHP Billiton plc		27,275
	3,169	BP plc		24,826
	240	British American Tobacco plc		6,350
	1,072	British Land Co. plc		8,717

The accompanying notes are an integral part of these financial statements.


					Market
Shares					Value (W)

COMMON STOCK — (continued)

		United Kingdom — (continued)
	2,300	HSBC Holding plc			$	22,841
	837	Imperial Tobacco Group plc				22,693
	2,820	National Grid plc				28,284
	650	Rio Tinto plc				14,670
	1,038	SABMiller plc				17,686
	1,102	Standard Chartered plc				14,312
	18,388	Vodafone Group plc				38,211
	952	Wolseley plc				5,383

						272,228

		Total common stock (cost $1,285,698)			$	1,081,048


EXCHANGE TRADED FUNDS — 7.5%
		United States — 7.5%
	966	iShares MSCI EAFE Index Fund			$	43,362
	1,203	iShares MSCI Emerging Markets Index Fund				30,049
	333	iShares MSCI Japan				3,197
	406	iShares MSCI Pac Ex				10,703
	164	iShares S&P Eur 350				5,109

		Total exchange traded funds (cost $94,987)			$	92,420

		Total long-term investments (cost $1,380,685)			$	1,173,468


Principal
Amount

SHORT-TERM INVESTMENTS — 6.0%
		Repurchase Agreements — 6.0%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $57, collateralized by U.S. Treasury Note 4.50%, 2009, value of $58)
$	57	0.03% dated 12/31/2008			$	57
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $24,563, collateralized by FNMA 5.00%, 2035 — 2038, value of $25,054)
	24,563	0.08% dated 12/31/2008				24,563
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,080, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $1,101)
	1,080	0.07% dated 12/31/2008				1,080
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $23,753, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $24,228)
	23,753	0.10% dated 12/31/2008				23,753
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $21,864, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $22,301)
	21,863	0.05% dated 12/31/2008				21,863
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,969, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $3,029)
	2,969	0.07% dated 12/31/2008				2,969

		Total short-term investments (cost $74,285)			$	74,285

		Total investments (cost $1,454,970) (C)	101.0	%	$	1,247,753
		Other assets and liabilities	(1.0	)%		(12,298	)

		Total net assets	100.0	%	$	1,235,455


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 87.50% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,511,878 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	37,423
Unrealized Depreciation		(301,548	)

Net Unrealized Depreciation	$	(264,125	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $58,546, which represents 4.74% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
9/2008 – 12/2008		2	East Japan Railway Co.	$	16,581
10/2008 – 11/2008		5	Nippon Telegraph & Telephone Corp.		23,444
8/2008 – 10/2008		4	Sumitomo Mitsui Financial Group, Inc.		22,133


		The aggregate value of these securities at December 31, 2008 was $58,546 which represents 4.74% of total net assets.

The accompanying notes are an integral part of these financial statements.

Hartford International Opportunities HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

British Pound (Buy)	$	1,683	$	1,664		01/05/09	$	19
British Pound (Buy)		1,387		1,390		01/06/09		(3	)
Euro (Buy)		9,755		9,785		01/02/09		(30	)
Hong Kong Dollar (Buy)		1,237		1,237		01/05/09		—

							$	(14	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Diversification by Industry
as of December 31, 2008


	Percentage of
Industry	Net Assets
Automobiles & Components		1.7	%


Banks		7.3


Capital Goods		2.0


Commercial & Professional Services		0.4


Consumer Durables & Apparel		0.8


Consumer Services		1.1


Diversified Financials		5.5


Energy		9.4


Food, Beverage & Tobacco		10.5


Health Care Equipment & Services		1.9


Household & Personal Products		1.7


Insurance		3.1


Materials		6.6


Other Investment Pools and Funds		7.5


Pharmaceuticals, Biotechnology & Life Sciences		10.1


Real Estate		1.8


Retailing		1.6


Semiconductors & Semiconductor Equipment		1.2


Software & Services		0.8


Technology Hardware & Equipment		2.0


Telecommunication Services		11.7


Transportation		2.2


Utilities		4.1


Short-Term Investments		6.0


Other Assets and Liabilities		(1.0	)


Total		100.0	%

The accompanying notes are an integral part of these financial statements.

Hartford Money Market HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)
		Basic Materials — 3.0%
		Export Development Canada
$	4,250	0.25%, 03/10/2009	$	4,248
	19,750	0.55%, 03/05/2009		19,731
	29,000	1.12%, 05/07/2009		28,886
	25,750	1.69%, 03/12/2009		25,666
		Praxair, Inc.
	25,750	0.65%, 04/01/2009		25,708
	28,250	0.70%, 04/03/2009		28,200
	24,750	0.80%, 03/09/2009		24,713

				157,152

		Consumer Cyclical — 0.8%
		Wal-Mart Stores, Inc.
	42,750	0.22%, 03/03/2009		42,734
		Consumer Staples — 3.1%
		Coca Cola Co.
	9,000	0.05%, 01/05/2009		9,000
	51,500	1.30%, 01/13/2009		51,478
		Colgate-Palmolive Co.
	20,624	0.15%, 02/06/2009		20,621
		Procter & Gamble Co.
	25,500	0.25%, 01/22/2009 (I)		25,496
	20,250	0.30%, 03/30/2009 (I)		20,235
	32,500	1.10%, 01/23/2009 (I)		32,478

				159,308

		Energy — 1.4%
		ConocoPhillips
	21,250	1.25%, 01/30/2009		21,242
	15,250	1.75%, 01/16/2009 (I)		15,239
	25,750	1.85%, 01/15/2009 (I)		25,731
	13,000	1.95%, 01/06/2009 (I)		12,997

				75,209

		Finance — 47.8%
		American Honda Finance Corp.
	25,750	2.00%, 09/18/2009 (I)(L)		25,750
	27,250	4.18%, 04/02/2009 (I)(L)		27,250
		Australia & New Zealand Banking Group Ltd.
	26,250	3.21%, 10/02/2009 (I)(BB)(?)		26,250
		Bank of America Corp.
	21,500	1.55%, 01/15/2009		21,487
		Bank of Nova Scotia
	25,250	4.57%, 08/10/2009 (I)(L)		25,250
		BNP Paribas
	23,500	1.11%, 02/17/2009		23,466
		BNP Paribas NY Branch
	28,750	2.01%, 01/26/2009		28,750
		Caterpillar Financial Services Corp.
	35,000	2.15%, 05/15/2009 (L)		34,991
		Citigroup Funding, Inc.
	52,250	0.23%, 03/06/2009		52,229
	53,250	0.25%, 02/04/2009		53,237
		Danske Corp.
	24,000	3.03%, 03/03/2009		23,878
		European Investment Bank
	77,250	0.47%, 03/12/2009		77,179
	34,500	1.53%, 02/17/2009		34,432
	45,000	1.67%, 03/03/2009		44,901
		Federal Home Loan Bank
	25,750	0.07%, 01/12/2009		25,750
	52,250	0.10%, 02/04/2009		52,245
	52,250	0.14%, 03/10/2009		52,236
	18,000	0.15%, 02/10/2009 — 02/27/2009		17,996
	45,450	0.20%, 04/13/2009 — 04/14/2009		45,424
	52,250	0.21%, 03/20/2009		52,226
	25,750	0.75%, 02/17/2009		25,725
	22,900	2.01%, 05/20/2009 (L)		22,898
	51,120	2.78%, 01/05/2009		51,111
	21,250	3.66%, 01/23/2009 (L)		21,251
		Federal Home Loan Mortgage Corp.
	40,250	0.05%, 02/02/2009		40,248
	21,200	0.10%, 01/05/2009 — 01/07/2009		21,200
	31,750	0.20%, 04/17/2009		31,731
	52,250	0.25%, 03/16/2009		52,223
	51,250	0.55%, 02/09/2009		51,219
	28,500	0.71%, 02/04/2009 (M)		28,481
	34,000	1.78%, 04/07/2009 (L)		34,000
	29,000	2.36%, 02/24/2009 (M)		28,901
	44,750	2.64%, 01/09/2009		44,724
	35,640	5.72%, 03/15/2009		35,844
		Federal National Mortgage Association
	52,250	0.10%, 02/02/2009 (M)		52,245
	64,250	0.15%, 03/05/2009 — 03/18/2009		64,230
	77,000	0.15%, 02/23/2009 (M)		76,983
	17,500	0.20%, 03/11/2009		17,493
	40,250	0.61%, 01/20/2009 (M)		40,237
	55,600	0.80%, 02/17/2009		55,543
	37,600	2.22%, 01/05/2009 (M)		37,591
	22,000	2.77%, 02/11/2009		21,931
		General Electric Capital Corp.
	51,350	0.25%, 03/30/2009		51,319
	19,400	0.50%, 06/24/2009 (L)(BB)		19,400
		J.P. Morgan Chase Funding Corp.
	25,750	0.10%, 01/20/2009 (I)		25,749
		John Deere Capital Corp.
	22,300	2.24%, 09/01/2009 (L)		22,288
		JP Morgan Chase & Co.
	26,500	1.50%, 01/26/2009		26,473
	26,250	2.73%, 01/05/2009		26,242
		Kreditanstalt fuer Wiederaufbau
	22,500	0.15%, 02/17/2009 (I)		22,496
	52,250	0.48%, 02/10/2009		52,223
	31,250	0.80%, 01/21/2009 (I)		31,236
	49,750	0.94%, 01/20/2009 (I)		49,743
		Nordea Bank Finland NY
	24,500	1.86%, 04/09/2009 (L)		24,470
		Nordea North America
	29,000	2.87%, 01/12/2009		28,975
		Queensland Treasury Corp.
	28,000	0.86%, 03/16/2009		27,952
	38,700	1.08%, 01/28/2009		38,670
	38,700	1.33%, 02/27/2009		38,620
		Rabobank USA
	29,000	0.45%, 02/19/2009		28,982
	25,800	1.24%, 01/20/2009		25,783
		Royal Bank of Canada
	21,250	1.60%, 10/15/2009 (I)(L)		21,250
		Royal Bank of Canada NY
	31,500	0.34%, 02/17/2009		31,500
		Royal Bank of Scotland Group plc
	25,750	2.40%, 10/09/2009 (I)(L)(BB)		25,750
		State Street Corp.
	51,500	0.45%, 01/08/2009		51,495
		Svenska Handelsbanken Ab
	15,400	4.42%, 05/06/2009 (I)(L)(BB)		15,400
		Toronto-Dominion Bank NY
	25,750	1.80%, 01/20/2009		25,750
		Toronto-Dominion Holdings
	26,500	0.20%, 01/16/2009		26,498

The accompanying notes are an integral part of these financial statements.

Hartford Money Market HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal					Market
Amount					Value (W)

		Finance — (continued)
		Toyota Motor Credit Corp.
$	38,000	2.76%, 01/30/2009			$	37,916
		Wachovia Bank NA
	34,000	4.61%, 08/04/2009 (L)(BB)				34,000
		Wells Fargo & Co.
	22,000	1.03%, 06/18/2009 (L)				22,000
		Westpac Banking Corp.
	26,500	1.02%, 03/17/2009 (I)				26,444
	25,750	3.07%, 01/28/2009 (L)				25,750

						2,485,110

		Foreign Governments — 5.0%
		British Columbia (Province Of)
	22,250	0.20%, 03/18/2009				22,240
	27,300	1.15%, 03/02/2009				27,248
	21,500	1.30%, 02/23/2009				21,459
	31,400	1.51%, 05/26/2009 — 05/27/2009				31,210
		Ontario (Province of)
	28,750	1.28%, 02/02/2009				28,717
	25,800	1.34%, 01/26/2009				25,776
	25,800	1.49%, 02/24/2009				25,742
		Quebec (Province of)
	41,000	1.09%, 01/16/2009 — 02/02/2009				40,971
	38,500	1.19%, 03/02/2009				38,424

						261,787



Shares

		Investment Pools and Funds — 5.2%
		JP Morgan U.S. Government Money
	104,000	Market Fund				104,000
		State Street Bank U.S. Government
	60,000	Money Market Fund				60,000
		Wells Fargo Advantage Government
	104,000	Money Market Fund				104,000

						268,000



Principal
Amount

		Repurchase Agreements — 6.0%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $171,248, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $172,939)
$	171,248	0.01% dated 12/31/2008				171,248
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $113,522, collateralized by U.S. Treasury Note 3.13%, 2013, value of $115,451)
	113,522	0.03% dated 12/31/2008				113,522
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $26,400, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $26,425)
	26,400	0.02% dated 12/31/2008				26,400

						311,170

		Services — 1.0%
		Walt Disney Co.
	38,000	0.35%, 03/10/2009				37,975
	13,750	1.10%, 01/07/2009				13,747

						51,722

		Technology — 3.0%
		AT&T, Inc.
	22,250	1.00%, 02/04/2009 (I)				22,229
	25,750	1.05%, 01/20/2009				25,744
	31,250	1.15%, 01/29/2009				31,222
		Microsoft Corp.
	25,750	0.15%, 02/19/2009				25,745
	53,000	0.25%, 01/05/2009				52,998

						157,938

		U.S. Treasury Bills — 22.3%
	171,000	0.15%, 04/29/2009 (M)				170,916
	258,000	0.31%, 02/05/2009 (M)				257,923
	300,000	0.36%, 02/12/2009 (M)				299,880
	172,000	0.41%, 03/05/2009 (M)				171,879
	258,000	0.43%, 01/22/2009 (M)				257,938

						1,158,536

		Utilities — 1.5%
		Florida Power & Light Co.
	78,750	0.25%, 01/09/2009				78,746
		Capital Support Agreement — 0.0%
	—	Hartford Life, Inc. Capital Support Agreement (BB)				—

		Total investments (cost $5,207,412) (C)	100.1	%	$	5,207,412
		Other assets and liabilities	(0.1	)%		(5,750	)

		Total net assets	100.0	%	$	5,201,662


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. The rates presented in this Schedule of Investments are yields, unless otherwise noted. Market value of investments in foreign securities represents 14.69% of total net assets at December 31, 2008.


		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		Also represents cost for tax purposes.

(BB)		The Fund has entered into a Capital Support Agreement with Hartford Life, Inc. which provides that Hartford Life, Inc. will contribute capital to the Fund, up to a specified maximum amount, in the event that the Fund realizes a loss on any of these securities and such realized loss causes the Fund’s net asset value as calculated using fair values to drop below $0.9950. See footnote 10 for additional information.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $476,973, which represents 9.17% of total net assets.

(L)		Variable rate securities; the yield reported is the rate in effect at December 31, 2008.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Small Company HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 96.1%
		Automobiles & Components — 0.4%
	212	Exide Technologies (D)	$	1,124
	78	Fuel Systems Solutions, Inc. (D)		2,571

				3,695

		Banks — 0.6%
	11	International Bancshares Corp.		242
	123	Signature Bank (D)		3,540
	70	SVB Financial Group (D)		1,835

				5,617

		Capital Goods — 9.4%
	65	Aceto Corp.		650
	57	Acuity Brands, Inc.		1,973
	442	Aecom Technology Corp. (D)		13,577
	140	AMETEK, Inc.		4,242
	53	Applied Signal Technology		955
	84	Axsys Technologies, Inc. (D)		4,601
	131	Beacon Roofing Supply, Inc. (D)		1,814
	137	Chart Industries, Inc. (D)		1,456
	46	Clarcor, Inc.		1,514
	129	Cubic Corp.		3,510
	42	Curtis-Wright Corp.		1,390
	54	Dynamic Materials Corp.		1,043
	97	EMCOR Group, Inc. (D)		2,179
	43	Energy Conversion Devices, Inc. (D)		1,082
	38	ESCO Technologies, Inc. (D)		1,555
	65	Flowserve Corp.		3,332
	54	Gorman Rupp Co.		1,694
	214	GrafTech International Ltd. (D)		1,783
	98	Graham Corp.		1,057
	49	Heico Corp.		1,909
	82	II-VI, Inc. (D)		1,567
	147	Insteel Industries, Inc.		1,659
	161	MasTec, Inc. (D)		1,867
	52	Michael Baker Corp. (D)		1,934
	175	Mueller Water Products, Inc.		1,470
	14	NN, Inc.		31
	37	Nordson Corp.		1,208
	144	Orbital Sciences Corp. (D)		2,813
	90	Perini Corp. (D)		2,107
	55	Raven Industries		1,314
	61	Robbins & Myers, Inc.		985
	72	Sterling Construction Co., Inc. (D)		1,334
	65	Sun Hydraulics Corp.		1,231
	174	Teledyne Technologies, Inc. (D)		7,764
	26	Thermadyne Holdings Corp. (D)		176
	100	Titan Machinery, Inc. (D)		1,408
	55	TransDigm Group, Inc. (D)		1,854
	87	Trex Co., Inc. (D)		1,430
	77	Wabtec Corp.		3,064
	38	Watsco, Inc.		1,443
	96	WESCO International, Inc. (D)		1,840
	80	Woodward Governor Co.		1,842

				91,657

		Commercial & Professional Services — 7.0%
	49	Administaff, Inc.		1,061
	364	American Ecology Corp.		7,375
	113	CBIZ, Inc. (D)		977
	36	Clean Harbors, Inc. (D)		2,295
	57	CoStar Group, Inc. (D)		1,892
	377	Covanta Holding Corp. (D)		8,281
	60	Equifax, Inc. (D)		1,579
	69	Geo Group, Inc. (D)		1,238
	100	Herman Miller, Inc.		1,298
	72	HNI Corp.		1,135
	23	Huron Consulting Group, Inc. (D)		1,344
	222	Knoll, Inc.		2,006
	246	Mobile Mini, Inc. (D)		3,541
	13	Multi-Color Corp.		206
	76	Navigant Consulting, Inc. (D)		1,203
	233	PRG-Schultz International (D)		952
	86	Resources Connection, Inc. (D)		1,415
	94	Robert Half International, Inc.		1,967
	60	Rollins, Inc.		1,080
	46	Standard Register Co.		409
	195	Sykes Enterprises, Inc. (D)		3,723
	384	Tetra Tech, Inc. (D)		9,276
	119	TrueBlue, Inc. (D)		1,142
	346	Waste Connections, Inc. (D)		10,943
	34	Watson Wyatt Worldwide, Inc.		1,649

				67,987

		Consumer Durables & Apparel — 3.4%
	183	Asics Corp.		1,484
	24	Deckers Outdoor Corp. (D)		1,920
	593	Jarden Corp. (D)		6,816
	62	Polaris Industries, Inc.		1,769
	321	Pool Corp.		5,772
	184	Snap-On, Inc.		7,229
	180	True Religion Apparel, Inc. (D)		2,244
	85	Tupperware Brands Corp.		1,921
	43	Under Armour, Inc. Class A (D)		1,035
	62	Warnaco Group, Inc. (D)		1,226
	79	Wolverine World Wide, Inc.		1,661

				33,077

		Consumer Services — 3.0%
	56	American Public Education, Inc. (D)		2,073
	68	Bally Technologies, Inc. (D)		1,642
	280	Burger King Holdings, Inc.		6,675
	21	Capella Education Co. (D)		1,229
	183	Corinthian Colleges, Inc. (D)		2,988
	58	ITT Educational Services, Inc. (D)		5,535
	40	Matthews International Corp. Class A		1,452
	59	P. F. Chang’s China Bistro, Inc. (D)		1,238
	201	Royal Caribbean Cruises Ltd.		2,768
	27	Steiner Leisure Ltd. (D)		785
	229	Wendy’s/Arby’s Group, Inc.		1,131
	72	WMS Industries, Inc. (D)		1,927

				29,443

		Diversified Financials — 2.6%
	53	Ameriprise Financial, Inc.		1,243
	57	Cash America International, Inc.		1,570
	128	Ezcorp, Inc. (D)		1,945
	39	First Cash Financial Services, Inc. (D)		747
	20	Greenhill & Co., Inc.		1,395
	72	Interactive Brokers Group (D)		1,295
	107	Knight Capital Group, Inc. (D)		1,732
	799	Liberty Acquisition Holdings Corp. (D)		6,670
	24	Life Partners Holdings, Inc.		1,039
	164	Nasdaq Stock Market, Inc. (D)		4,042

The accompanying notes are an integral part of these financial statements.

Hartford Small Company HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Diversified Financials — (continued)
	86	optionsXpress Holdings, Inc.	$	1,152
	70	Riskmetrics Group, Inc. (D)		1,045
	250	Thinkorswim Group, Inc. (D)		1,408

				25,283

		Energy — 5.8%
	220	Arena Resources, Inc. (D)		6,166
	139	ATP Oil & Gas Corp. (D)		815
	111	Basic Energy Services, Inc. (D)		1,450
	141	Bolt Technology Corp. (D)		978
	169	Cabot Oil & Gas Corp.		4,391
	55	Carbo Ceramics, Inc.		1,946
	37	Clayton Williams Energy, Inc. (D)		1,678
	78	Comstock Resources, Inc. (D)		3,666
	86	Concho Resources, Inc. (D)		1,964
	29	Contango Oil & Gas Co. (D)		1,607
	55	Dril-Quip, Inc. (D)		1,133
	46	Englobal Corp. (D)		148
	164	Exco Resources, Inc. (D)		1,484
	35	Georesources, Inc. (D)		307
	36	Goodrich Petroleum Corp. (D)		1,076
	75	Gulf Island Fabrication		1,081
	56	Helmerich & Payne, Inc.		1,263
	35	Lufkin Industries, Inc.		1,203
	194	Matrix Service Co. (D)		1,488
	118	McMoRan Exploration Co. (D)		1,158
	92	NATCO Group, Inc. (D)		1,391
	32	Nordic Amer Tanker Shipping		1,066
	163	Penn Virginia Corp.		4,226
	67	Precision Drilling Trust		565
	116	RPC, Inc.		1,136
	165	St. Mary Land & Exploration Co.		3,359
	120	T-3 Energy Services, Inc. (D)		1,137
	369	Vaalco Energy, Inc. (D)		2,742
	119	Whiting Petroleum Corp. (D)		3,996
	245	Willbros Group, Inc. (D)		2,078

				56,698

		Food & Staples Retailing — 1.2%
	235	BJ’s Wholesale Club, Inc. (D)		8,055
	75	Spartan Stores, Inc.		1,743
	103	Winn-Dixie Stores, Inc. (D)		1,664

				11,462

		Food, Beverage & Tobacco — 1.7%
	58	Cal-Maine Foods, Inc.		1,673
	51	Diamond Foods, Inc.		1,020
	115	Flowers Foods, Inc.		2,790
	32	Green Mountain Coffee Roasters (D)		1,248
	111	Ralcorp Holdings, Inc. (D)		6,492
	165	Smithfield Foods, Inc. (D)		2,325
	101	Vector Group Ltd.		1,382

				16,930

		Health Care Equipment & Services — 9.1%
	145	Align Technology, Inc. (D)		1,268
	35	Almost Family, Inc. (D)		1,558
	53	Amedisys, Inc. (D)		2,171
	166	American Medical Systems Holdings (D)		1,493
	37	Athenahealth, Inc. (D)		1,408
	83	Catalyst Health Solutions (D)		2,024
	69	Centene Corp. (D)		1,359
	37	Chemed Corp.		1,463
	49	Computer Programs and Systems, Inc.		1,316
	52	Conceptus, Inc. (D)		791
	121	Cross Country Healthcare, Inc. (D)		1,066
	195	CryoLife, Inc. (D)		1,898
	137	Cyberonics, Inc. (D)		2,262
	87	Eclipsys Corp. (D)		1,238
	41	Emergency Medical Services (D)		1,503
	40	Genoptix, Inc. (D)		1,354
	36	Haemonetics Corp. (D)		2,016
	294	Health Net, Inc. (D)		3,201
	932	HealthSouth Corp. (D)		10,211
	44	HMS Holdings Corp. (D)		1,379
	86	Immucor, Inc. (D)		2,292
	52	Integra LifeSciences Holdings Corp. (D)		1,860
	16	Landauer, Inc.		1,178
	55	LHC Group, Inc. (D)		1,985
	102	Masimo Corp. (D)		3,032
	83	MedAssets, Inc. (D)		1,216
	37	Meridian Bioscience, Inc.		945
	77	NuVasive, Inc. (D)		2,677
	48	Owens & Minor, Inc.		1,821
	65	PSS World Medical, Inc. (D)		1,221
	82	Psychiatric Solutions, Inc. (D)		2,270
	102	Quidel Corp. (D)		1,331
	121	Sirona Dental Systems, Inc. (D)		1,267
	475	SSL International plc		3,468
	125	STERIS Corp.		2,974
	141	Thoratec Corp. (D)		4,572
	488	Volcano Corp. (D)		7,318
	32	West Pharmaceutical Services		1,197
	59	Wright Medical Group, Inc. (D)		1,206
	179	Zoll Medical Corp. (D)		3,387

				88,196

		Household & Personal Products — 0.3%
	260	American Oriental Bioengineering, Inc. (D)		1,763
	23	Chattem, Inc. (D)		1,624

				3,387

		Insurance — 3.6%
	257	Allied World Assurance Holdings Ltd.		10,449
	67	Arch Capital Group Ltd. (D)		4,715
	157	Axis Capital Holdings Ltd.		4,585
	58	eHealth, Inc. (D)		777
	575	Lancashire Holdings Ltd.		3,592
	64	PartnerRe Ltd.		4,573
	45	Tower Group, Inc.		1,280
	155	W.R. Berkley Corp.		4,790

				34,761

		Materials — 2.4%
	151	Albemarle Corp.		3,374
	89	Calgon Carbon Corp. (D)		1,366
	27	Compass Minerals Group, Inc.		1,560
	107	FMC Corp.		4,774
	190	Innophos Holdings, Inc.		3,770
	36	Rock Tenn Co. Class A		1,241
	32	Silgan Holdings, Inc.		1,523
	735	Solutia, Inc. (D)		3,309
	18	Universal Stainless & Alloy Products (D)		256

The accompanying notes are an integral part of these financial statements.


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Materials — (continued)
	86	Worthington Industries, Inc.	$	946
	74	Zep, Inc.		1,429

				23,548

		Media — 2.0%
	93	DreamWorks Animation SKG, Inc. (D)		2,346
	319	Interactive Data Corp.		7,865
	293	Marvel Entertainment, Inc. (D)		9,027

				19,238

		Pharmaceuticals, Biotechnology & Life Sciences — 11.2%
	149	Albany Molecular Research, Inc. (D)		1,451
	158	Alexion Pharmaceuticals, Inc. (D)		5,712
	460	Alkermes, Inc. (D)		4,902
	208	Auxilium Pharmaceuticals, Inc. (D)		5,912
	29	Bio-Rad Laboratories, Inc. Class A (D)		2,215
	437	Celera Corp. (D)		4,858
	70	Cephalon, Inc. (D)		5,421
	140	Cougar Biotechnology, Inc. (D)		3,642
	212	Cubist Pharmaceuticals, Inc. (D)		5,114
	167	CV Therapeutics, Inc. (D)		1,540
	54	Emergent Biosolutions, Inc. (D)		1,413
	283	Enzon, Inc. (D)		1,647
	256	eResearch Technology, Inc. (D)		1,700
	41	Facet Biotech Corp. (D)		396
	327	Icon plc ADR (D)		6,444
	113	Isis Pharmaceuticals, Inc. (D)		1,609
	272	KV Pharmaceutical Co. (D)		783
	64	Life Sciences Research, Inc. (D)		601
	104	Luminex Corp. (D)		2,213
	89	Martek Biosciences Corp.		2,707
	194	Medicines Co. (D)		2,854
	170	Medicis Pharmaceutical Corp. Class A		2,368
	49	Myriad Genetics, Inc. (D)		3,228
	231	NPS Pharmaceuticals, Inc. (D)		1,434
	159	Obagi Medical Products, Inc. (D)		1,185
	124	Onyx Pharmaceuticals, Inc. (D)		4,224
	85	OSI Pharmaceuticals, Inc. (D)		3,324
	247	PDL Biopharma, Inc.		1,526
	208	Perrigo Co.		6,728
	227	Pharmaceutical Product Development, Inc.		6,574
	283	Questcor Pharmaceuticals (D)		2,636
	311	Regeneron Pharmaceuticals, Inc. (D)		5,718
	142	Sequenom, Inc. (D)		2,815
	79	Valeant Pharmaceuticals International (D)		1,817
	38	Varian, Inc. (D)		1,273
	264	VIVUS, Inc. (D)		1,403

				109,387

		Real Estate — 0.7%
	35	Equity Lifestyle Properties, Inc.		1,359
	39	Home Properties of New York, Inc.		1,598
	130	MFA Mortgage Investments, Inc.		764
	44	Tanger Factory Outlet Center		1,667
	42	Washington Real Estate Investment Trust		1,190

				6,578

		Retailing — 3.7%
	103	99 Cents Only Stores (D)		1,122
	202	Advance Automotive Parts, Inc.		6,792
	102	Aeropostale, Inc. (D)		1,643
	135	Big Lots, Inc. (D)		1,955
	77	The Buckle, Inc.		1,674
	193	Dick’s Sporting Goods, Inc. (D)		2,720
	74	Dufry Group		2,087
	255	The Finish Line, Inc.		1,426
	347	Foot Locker, Inc.		2,547
	226	GameStop Corp. Class A (D)		4,893
	158	Limited Brands, Inc.		1,586
	141	LKQ Corp. (D)		1,648
	65	Netflix, Inc. (D)		1,930
	107	PetMed Express, Inc. (D)		1,879
	48	Tractor Supply Co. (D)		1,729

				35,631

		Semiconductors & Semiconductor Equipment — 3.1%
	373	Atheros Communications, Inc. (D)		5,326
	51	Hittite Microwave Corp. (D)		1,514
	123	Micrel, Inc.		898
	457	Microsemi Corp. (D)		5,772
	1,475	ON Semiconductor Corp. (D)		5,015
	340	PMC — Sierra, Inc. (D)		1,652
	72	Power Integrations, Inc.		1,426
	88	Semtech Corp. (D)		987
	1,172	Skyworks Solutions, Inc. (D)		6,493
	75	Ultratech Stepper, Inc. (D)		900

				29,983

		Software & Services — 14.2%
	94	ACI Worldwide, Inc. (D)		1,501
	68	Advent Software, Inc. (D)		1,362
	688	Ariba, Inc. (D)		4,959
	165	AsiaInfo Holdings, Inc. (D)		1,957
	341	Autonomy Corp. plc (D)		4,820
	59	Blackboard, Inc. (D)		1,557
	152	CACI International, Inc. Class A (D)		6,841
	70	Commvault Systems, Inc. (D)		935
	81	Concur Technologies, Inc. (D)		2,671
	82	CSG Systems International, Inc. (D)		1,437
	127	CyberSource Corp. (D)		1,521
	47	Digital River, Inc. (D)		1,175
	295	Earthlink, Inc. (D)		1,997
	66	EPIQ Systems, Inc. (D)		1,098
	112	Equinix, Inc. (D)		5,975
	119	Factset Research Systems, Inc.		5,284
	62	Forrester Research, Inc. (D)		1,757
	144	Gartner, Inc. Class A (D)		2,574
	154	Informatica Corp. (D)		2,119
	96	Interwoven, Inc. (D)		1,216
	92	j2 Global Communications, Inc. (D)		1,847
	89	Jack Henry & Associates, Inc.		1,727
	86	JDA Software Group, Inc. (D)		1,135
	84	Manhattan Associates, Inc. (D)		1,328
	30	Mantech International Corp. Class A (D)		1,647
	243	McAfee, Inc. (D)		8,390
	110	Micros Systems (D)		1,795
	266	Net 1 UEPS Technologies, Inc. (D)		3,647
	391	Netease.com, Inc. (D)		8,637
	190	Netscout Systems, Inc. (D)		1,637
	105	Omniture, Inc. (D)		1,120

The accompanying notes are an integral part of these financial statements.

Hartford Small Company HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)

COMMON STOCK — (continued)

		Software & Services — (continued)
	204	Parametric Technology Corp. (D)	$	2,577
	65	Pegasystems, Inc.		802
	37	Quality Systems		1,605
	469	Red Hat, Inc. (D)		6,204
	278	RightNow Technologies, Inc. (D)		2,148
	174	S1 Corp. (D)		1,376
	313	Sapient Corp. (D)		1,390
	123	Smith Micro Software, Inc. (D)		686
	581	Solera Holdings, Inc. (D)		14,006
	114	Sybase, Inc. (D)		2,813
	171	Symyx Technologies (D)		1,017
	46	Syntel, Inc.		1,066
	293	Take-Two Interactive Software, Inc.		2,217
	107	Taleo Corp. Class A (D)		838
	151	TeleCommunication Systems, Inc. Class A (D)		1,294
	148	TiVo, Inc. (D)		1,063
	110	Tyler Corp. (D)		1,315
	227	UbiSoft Entertainment S.A. (D)		4,477
	72	VistaPrint Ltd. (D)		1,348
	148	Websense, Inc. (D)		2,218
	217	Wind River Systems, Inc. (D)		1,963

				138,089

		Technology Hardware & Equipment — 5.2%
	88	ADTRAN, Inc.		1,304
	75	Bigband Networks, Inc. (D)		415
	104	Cogent, Inc. (D)		1,418
	118	Cognex Corp.		1,745
	44	Comtech Telecommunications Corp. (D)		2,007
	95	Data Domain, Inc. (D)		1,791
	275	FLIR Systems, Inc. (D)		8,449
	229	Harmonic, Inc. (D)		1,286
	115	Interdigital, Inc. (D)		3,159
	91	Intermec, Inc. (D)		1,202
	99	IPG Photonics Corp. (D)		1,299
	88	Itron, Inc. (D)		5,605
	50	MTS Systems Corp.		1,339
	347	NCR Corp. (D)		4,911
	205	Netezza Corp. (D)		1,361
	252	Nice Systems Ltd. (D)		5,661
	8	PC-Tel, Inc.		53
	78	Plexus Corp. (D)		1,329
	133	Polycom, Inc. (D)		1,802
	101	Riverbed Technology, Inc. (D)		1,146
	166	Starent Networks Corp. (D)		1,977
	64	Synaptics, Inc. (D)		1,054

				50,313

		Telecommunication Services — 2.2%
	289	Centennial Cellular Corp. Class A (D)		2,331
	122	Iowa Telecommunications Services, Inc.		1,738
	646	MetroPCS Communications, Inc. (D)		9,593
	77	NTELOS Holdings Corp.		1,910
	127	Premiere Global Services, Inc. (D)		1,090
	47	Shenandoah Telecommunications Co.		1,330
	101	Syniverse Holdings, Inc. (D)		1,203
	283	TW Telecom, Inc. (D)		2,393

				21,588

		Transportation — 2.8%
	137	Allegiant Travel Co. (D)		6,636
	40	Genesee & Wyoming, Inc. Class A (D)		1,212
	375	Heartland Express, Inc.		5,909
	260	Hub Group, Inc. (D)		6,898
	131	J.B. Hunt Transport Services, Inc.		3,433
	113	Knight Transportation, Inc.		1,827
	46	Old Dominion Freight Line, Inc. (D)		1,322

				27,237

		Utilities — 0.5%
	28	ITC Holdings Corp.		1,243
	151	UGI Corp.		3,681

				4,924

		Total common stock (cost $1,144,802)	$	934,709


EXCHANGE TRADED FUNDS — 0.5%
		Other Investment Pools and Funds — 0.5%
	90	iShares Russell 2000 Growth Index Fund	$	4,577

		Total exchange traded funds (cost $4,443)	$	4,577

		Total long-term investments (cost $1,149,245)	$	939,286


Principal
Amount

SHORT-TERM INVESTMENTS — 3.0%
		Repurchase Agreements — 2.9%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $8, collateralized by U.S. Treasury Note 4.50%, 2009, value of $9)
$	8	0.03% dated 12/31/2008	$	8
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,714, collateralized by FNMA 5.00%, 2035 — 2038, value of $3,788)
	3,714	0.08% dated 12/31/2008		3,714
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $9,508, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $9,601)
	9,508	0.01% dated 12/31/2008		9,508
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $163, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $167)
	163	0.07% dated 12/31/2008		163
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,591, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $3,663)
	3,591	0.10% dated 12/31/2008		3,591

The accompanying notes are an integral part of these financial statements.


Principal					Market
Amount					Value (W)


SHORT-TERM INVESTMENTS — (continued)

		Repurchase Agreements — (continued)
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $3,305, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $3,372)
$	3,305	0.05% dated 12/31/2008			$	3,305
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $6,303, collateralized by U.S. Treasury Note 3.13%, 2013, value of $6,410)
	6,303	0.03% dated 12/31/2008				6,303
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,466, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $1,467)
	1,466	0.02% dated 12/31/2008				1,466
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $449, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $458)
	449	0.07% dated 12/31/2008				449

						28,507

		U.S. Treasury Bills — 0.1%
	1,195	0.10%, 01/15/2009 (M)(S)				1,195

		Total short-term investments (cost $29,701)			$	29,702

		Total investments (cost $1,178,946) (C)	99.6	%	$	968,988
		Other assets and liabilities	0.4	%		3,501

		Total net assets	100.0	%	$	972,489


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 3.95% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $1,204,264 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	8,710
Unrealized Depreciation		(243,986	)

Net Unrealized Depreciation	$	(235,276	)


(D)		Currently non-income producing.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(S)		Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

Russell 2000 Mini

272

Long

Mar 2009

425


		* The number of contracts does not omit 000’s.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

British Pound (Buy)	$	196	$	194		01/05/09	$	2
Japanese Yen (Sell)		287		288		01/05/09		1
Japanese Yen (Sell)		380		383		01/06/09		3
Japanese Yen (Sell)		404		406		01/07/09		2

							$	8


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Stock HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


			Market
Shares			Value (W)
COMMON STOCK — 99.3%
		Automobiles & Components — 0.5%
	475	Honda Motor Co., Ltd.	$	10,098
		Banks — 4.4%
	633	Banco Itau Holding Financeira S.A. ADR		7,341
	4,038	National City Corp.		7,308
	500	Standard Chartered plc		6,488
	3,669	Washington Mutual, Inc. Private Placement (A)(H)		71
	2,416	Wells Fargo & Co.		71,235

				92,443

		Capital Goods — 5.1%
	403	Cummins, Inc.		10,783
	3,571	General Electric Co.		57,855
	583	Honeywell International, Inc.		19,153
	268	Siemens AG ADR		20,286

				108,077

		Commercial & Professional Services — 0.4%
	690	Monster Worldwide, Inc. (D)		8,343
		Diversified Financials — 11.7%
	548	Ameriprise Financial, Inc.		12,806
	2,791	Bank of America Corp.		39,302
	1,463	Citigroup, Inc.		9,818
	2,274	Discover Financial Services, Inc.		21,670
	470	Goldman Sachs Group, Inc.		39,646
	2,252	Invesco Ltd.		32,523
	2,177	JP Morgan Chase & Co.		68,625
	1,544	UBS AG ADR (D)		22,079

				246,469

		Energy — 13.6%
	627	Cameco Corp.		10,823
	193	Canadian Natural Resources Ltd. ADR		7,716
	289	Consol Energy, Inc.		8,245
	174	EnCana Corp.		8,064
	177	EOG Resources, Inc.		11,791
	887	Exxon Mobil Corp.		70,801
	802	Hess Corp.		43,014
	1,037	Marathon Oil Corp.		28,362
	1,202	OAO Gazprom Class S ADR		17,134
	179	Occidental Petroleum Corp.		10,756
	945	Petroleo Brasileiro S.A. ADR		23,138
	310	Reliance Industries GDR (I)		15,707
	230	Schlumberger Ltd.		9,749
	345	Suncor Energy, Inc. ADR		6,733
	359	XTO Energy, Inc.		12,662

				284,695

		Food & Staples Retailing — 4.8%
	1,183	Safeway, Inc.		28,120
	1,061	Supervalu, Inc.		15,497
	791	Walgreen Co.		19,517
	657	Wal-Mart Stores, Inc.		36,803

				99,937

		Food, Beverage & Tobacco — 3.4%
	4	Japan Tobacco, Inc.		11,822
	861	PepsiCo, Inc.		47,130
	487	Unilever N.V. NY Shares ADR		11,951

				70,903

		Health Care Equipment & Services — 4.7%
	79	Intuitive Surgical, Inc. (D)		10,083
	283	McKesson Corp.		10,941
	850	Medtronic, Inc.		26,701
	1,876	UnitedHealth Group, Inc.		49,912

				97,637

		Household & Personal Products — 0.5%
	170	Procter & Gamble Co.		10,497
		Insurance — 0.8%
	261	ACE Ltd.		13,837
	46	PartnerRe Ltd.		3,285

				17,122

		Materials — 3.1%
	865	Cliff’s Natural Resources, Inc.		22,158
	494	Freeport-McMoRan Copper & Gold, Inc.		12,068
	121	Monsanto Co.		8,498
	292	Potash Corp. of Saskatchewan, Inc.		21,366

				64,090

		Media — 5.1%
	3,062	Comcast Corp. Class A		51,678
	3,009	Time Warner, Inc.		30,269
	1,367	Viacom, Inc. Class B (D)		26,051

				107,998

		Pharmaceuticals, Biotechnology & Life Sciences — 11.3%
	274	AstraZeneca plc		11,365
	436	Bristol-Myers Squibb Co.		10,130
	490	Daiichi Sankyo Co., Ltd.		11,583
	35	Eisai Co., Ltd.		1,459
	2,489	Elan Corp. plc ADR (D)		14,936
	626	Eli Lilly & Co.		25,225
	611	Merck & Co., Inc.		18,587
	2,364	Schering-Plough Corp.		40,256
	927	Shionogi & Co., Ltd.		23,927
	392	UCB S.A.		12,850
	538	Vertex Pharmaceuticals, Inc. (D)		16,341
	1,364	Wyeth		51,164

				237,823

		Retailing — 5.6%
	440	Bed Bath & Beyond, Inc. (D)		11,172
	471	Best Buy Co., Inc.		13,247
	10,986	Buck Holdings L.P. (A)(D)(H)		10,579
	862	Kohl’s Corp. (D)		31,197
	593	Lowe’s Co., Inc.		12,756
	669	Nordstrom, Inc.		8,910
	1,619	Staples, Inc.		29,005

				116,866

		Semiconductors & Semiconductor Equipment — 4.5%
	2,059	Applied Materials, Inc.		20,857
	900	Lam Research Corp. (D)		19,160
	2,691	Maxim Integrated Products, Inc.		30,731
	1,557	Texas Instruments, Inc.		24,162

				94,910

		Software & Services — 6.1%
	344	Accenture Ltd. Class A		11,293
	1,643	Electronic Arts, Inc. (D)		26,354
	100	Google, Inc. (D)		30,889
	2,443	Microsoft Corp.		47,486
	898	Western Union Co.		12,884

				128,906

		Technology Hardware & Equipment — 8.0%
	437	Apple, Inc. (D)		37,324
	3,861	Cisco Systems, Inc. (D)		62,926
	2,499	Flextronics International Ltd. (D)		6,396
	1,157	NetApp, Inc. (D)		16,166
	902	Qualcomm, Inc.		32,326
	322	Research In Motion Ltd. (D)		13,067
	54	Seagate Technology		239

				168,444

The accompanying notes are an integral part of these financial statements.


					Market
Shares					Value (W)

COMMON STOCK — (continued)
		Telecommunication Services — 1.3%
	1,767	MetroPCS Communications, Inc. (D)			$	26,243
		Transportation — 4.4%
	2,858	Delta Air Lines, Inc. (D)				32,757
	431	FedEx Corp.				27,655
	581	United Parcel Service, Inc. Class B				32,054

						92,466

		Total common stock (cost $3,111,147)			$	2,083,967


WARRANTS — 0.0%
		Banks — 0.0%
	459	Washington Mutual, Inc. Private Placement (A)(H)			$	—

		Total warrants (cost $— )			$	—

		Total long-term investments (cost $3,111,147)			$	2,083,967


Principal
Amount

SHORT-TERM INVESTMENTS — 0.4%
		Repurchase Agreements — 0.4%
		Banc of America Securities Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $6, collateralized by U.S. Treasury Note 4.50%, 2009, value of $6)
$	6	0.03% dated 12/31/2008			$	6
		Banc of America Securities TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,657, collateralized by FNMA 5.00%, 2035 — 2038, value of $2,710)
	2,657	0.08% dated 12/31/2008				2,657
		Credit Suisse Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $117, collateralized by FNMA 4.50% — 9.00%, 2009 — 2038, value of $119)
	117	0.07% dated 12/31/2008				117
		Deutsche Bank Securities Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,570, collateralized by FHLMC 5.00% — 5.50%, 2038, value of $2,621)
	2,570	0.10% dated 12/31/2008				2,570
		J.P. Morgan Chase & Co. TriParty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $2,365, collateralized by FNMA 4.50% — 7.50%, 2009 — 2039, value of $2,412)
	2,365	0.05% dated 12/31/2008				2,365
		UBS Securities, Inc. Triparty Joint Repurchase Agreement (maturing on 01/02/2009 in the amount of $321, collateralized by FNMA 4.50% — 6.00%, 2023 — 2037, value of $328)
	321	0.07% dated 12/31/2008				321

		Total short-term investments (cost $8,036)			$	8,036

		Total investments (cost $3,119,183) (C)	99.7	%	$	2,092,003
		Other assets and liabilities	0.3	%		6,655

		Total net assets	100.0	%	$	2,098,658


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 13.82% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $3,203,923 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	40,510
Unrealized Depreciation		(1,152,430	)

Net Unrealized Depreciation	$	(1,111,920	)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $10,650, which represents 0.51% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(D)		Currently non-income producing.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $15,707, which represents 0.75% of total net assets.

(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares		Security	Cost Basis
06/2007		10,986	Buck Holdings L.P.	$	10,997
04/2008		3,669	Washington Mutual, Inc. Private Placement		32,100
07/2008		459	Washington Mutual, Inc. Private Placement Warrants		—


		The aggregate value of these securities at December 31, 2008 was $10,650 which represents 0.51% of total net assets.

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

Japanese Yen (Sell)	$	1,241	$	1,245		01/05/09	$	4
Japanese Yen (Sell)		1,696		1,708		01/06/09		12
Japanese Yen (Sell)		1,877		1,886		01/07/09		9

							$	25


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

The accompanying notes are an integral part of these financial statements.

Hartford Total Return Bond HLS Fund

Schedule of Investments
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 9.7%
		Finance — 9.7%
		Banc of America Commercial Mortgage, Inc.
$	83,058	4.52%, 09/11/2036 (H)(?)	$	1,082
		Banc of America Securities Automotive Trust
	5,880	4.49%, 02/18/2013 (H)		5,874
		Bayview Commercial Asset Trust
	47,108	7.00%, 07/25/2037 (H)(?)		3,651
	77,172	7.50%, 09/25/2037 (H)(?)		6,305
		Bayview Financial Acquisition Trust
	4,430	2.12%, 05/28/2037 (H)(L)		620
		Bear Stearns Commercial Mortgage Securities, Inc.
	57,397	4.07%, 07/11/2042 (H)(?)		1,213
	48,541	4.12%, 11/11/2041 (H)(?)		841
	14,400	4.83%, 11/11/2041		12,443
	9,595	5.33%, 02/11/2044		7,395
	10,765	5.74%, 09/11/2042 (L)		8,409
		CBA Commercial Small Balance Commercial Mortgage Class X1
	70,894	7.00%, 06/25/2038 (A)(H)(?)		5,217
		CBA Commercial Small Balance Commercial Mortgage Class X2
	40,958	7.00%, 07/25/2035 (A)(H)(?)		2,394
		Citigroup Commercial Mortgage Trust
	8,342	5.27%, 10/15/2049		7,868
	10,145	5.41%, 10/15/2049		7,564
	16,300	5.72%, 03/15/2049 (L)		12,781
		Citigroup Mortgage Loan Trust, Inc.
	—	0.00%, 01/25/2037 (A)(H)		—
	35,509	5.91%, 07/25/2037 (H)(L)		20,944
	11,375	6.10%, 12/10/2049 (L)		8,519
	1,387	12.00%, 01/25/2037 (A)(H)		42
		Countrywide Asset-Backed Certificates
	1,549	5.46%, 07/25/2035		714
		Countrywide Home Loans, Inc.
	40,005	6.00%, 10/25/2037 (H)		25,978
		Credit-Based Asset Servicing and Securitization
	3,136	0.74%, 05/25/2036 (H)(L)		1,266
	4,735	5.86%, 04/25/2037		2,518
		CS First Boston Mortgage Securities Corp.
	1,835	4.51%, 07/15/2037		1,688
		DB Master Finance LLC
	12,470	5.78%, 06/20/2031 (I)		9,252
		First Horizon Mortgage Pass-Through Trust
	51,522	5.83%, 05/25/2037 (H)(L)		28,360
		Ford Credit Floorplan Master Owner Trust
	9,400	1.37%, 06/15/2011 (H)(L)		9,075
		GE Business Loan Trust
	8,746	2.19%, 05/15/2034 (I)(L)		1,325
	210,181	6.14%, 05/15/2034 (H)(?)		885
		GMAC Commercial Mortgage Securities, Inc.
	12,000	4.86%, 12/10/2041		9,916
		Goldman Sachs Mortgage Securities Corp. II
	137,437	4.38%, 08/10/2038 (H)(?)		767
		Green Tree Financial Corp.
	1,192	7.24%, 06/15/2028		967
		Greenwich Capital Commercial Funding Corp.
	20,500	5.74%, 12/10/2049 (L)		15,305
	14,160	5.91%, 07/10/2038 (L)		11,051
		JP Morgan Automotive Receivable Trust
	1,675	12.85%, 03/15/2012 (A)(H)		596
		JP Morgan Chase Commercial Mortgage Securities Corp.
	585,231	4.82%, 08/12/2037 (?)		1,266
	19,980	5.18%, 12/15/2044 (L)		16,013
	14,643	5.42%, 01/15/2049		10,352
	435,647	5.42%, 05/12/2045 (?)		6,512
	15,900	5.47%, 04/15/2043 (L)		12,367
	20,090	5.54%, 12/12/2043 (L)		4,217
	6,956	5.83%, 02/15/2051		5,423
		LB-UBS Commercial Mortgage Trust
	4,750	5.45%, 11/15/2038 (L)		1,007
	11,890	5.48%, 11/15/2038 (L)		2,444
		Lehman Brothers Small Balance Commercial
	4,921	5.52%, 09/25/2030 (A)(H)		3,508
	5,180	5.62%, 09/25/2036 (H)		4,489
		Marlin Leasing Receivables LLC
	13,390	5.33%, 09/16/2013 (H)		12,910
		Merrill Lynch Mortgage Trust
	55,740	3.96%, 10/12/2041 (H)(?)		929
		Morgan Stanley Capital I
	9,180	4.97%, 04/14/2040		7,711
	8,865	5.65%, 12/15/2044		6,454
		Morgan Stanley Dean Witter Capital I
	19,046	0.01%, 08/25/2032 (A)(H)(?)		—
		Nationstar Home Equity Loan Trust
	211	9.97%, 03/25/2037 (H)(L)		6
		North Street Referenced Linked Notes
	3,900	4.52%, 08/01/2010 (H)(L)		2,028
		Option One Mortgage Loan Trust Class M6
	3,875	6.99%, 03/25/2037 (H)		366
		Option One Mortgage Loan Trust Class M7
	2,575	6.99%, 03/25/2037 (H)		205
		Option One Mortgage Loan Trust Class M8
	2,525	6.99%, 03/25/2037 (H)		175
		Popular ABS Mortgage Pass-Through Trust
	3,775	4.75%, 12/25/2034		3,104
	2,609	5.42%, 04/25/2035 (H)		1,952
		Renaissance Home Equity Loan Trust
	3,891	5.36%, 05/25/2035 (H)		2,341
	6,480	5.75%, 05/25/2036 (H)(L)		4,943
		Renaissance Home Equity Loan Trust Class M5
	4,300	7.00%, 09/25/2037 (H)		241
		Renaissance Home Equity Loan Trust Class M8
	5,375	7.00%, 09/25/2037 (H)		180
		Soundview NIM Trust
	369	0.00%, 12/25/2036 (D)(H)		9
		Swift Master Automotive Receivables Trust
	17,050	1.85%, 10/15/2012 (H)(L)		11,015

The accompanying notes are an integral part of these financial statements.


Principal			Market
Amount			Value (W)

ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — (continued)

		Finance — (continued)
		Wachovia Bank Commercial Mortgage Trust
$	47,086	3.65%, 02/15/2041 (H)(?)	$	703
	1,835	4.52%, 05/15/2044		1,672
	6,930	5.42%, 01/15/2045		6,025
	2,088,656	10.00%, 02/15/2051 (H)(?)		2,359
		Wamu Commercial Mortgage Securities Trust
	19,570	6.14%, 03/23/2045 (H)(L)		4,893
		Wells Fargo Alternative Loan Trust
	12,953	6.25%, 11/25/2037 (H)		6,715

		Total asset & commercial mortgage backed securities (cost $564,181)	$	377,359


CORPORATE BONDS: INVESTMENT GRADE — 36.8%
		Basic Materials — 0.2%
		Kimberly-Clark Corp.
$	4,418	7.50%, 11/01/2018	$	5,203
		Rohm & Haas Holdings
	3,799	5.60%, 03/15/2013		3,668

				8,871

		Capital Goods — 0.9%
		Caterpillar, Inc.
	2,226	8.25%, 12/15/2038		2,744
		United Technologies Corp.
	12,025	6.13%, 02/01/2019		12,865
		Xerox Corp.
	23,590	6.35%, 05/15/2018		18,450

				34,059

		Consumer Cyclical — 1.5%
		Altria Group, Inc.
	14,632	9.70%, 11/10/2018		15,815
		CRH America, Inc.
	4,380	8.13%, 07/15/2018		3,162
		Home Depot, Inc.
	3,995	5.88%, 12/16/2036		3,133
		Kroger Co.
	7,830	6.15%, 01/15/2020		7,725
		SABMiller plc
	6,725	5.70%, 01/15/2014 (I)		6,200
		Safeway, Inc.
	5,972	5.80%, 08/15/2012		5,937
	3,287	6.25%, 03/15/2014		3,304
		Tesco plc
	11,806	5.50%, 11/15/2017 (I)		10,944
		Wal-Mart Stores, Inc.
	3,148	6.50%, 08/15/2037		3,738

				59,958

		Consumer Staples — 1.8%
		Clorox Co.
	2,340	5.95%, 10/15/2017		2,214
		Diageo Capital plc
	8,925	5.50%, 09/30/2016		8,555
		Diageo Finance B.V.
	5,300	5.30%, 10/28/2015		5,102
	11,414	5.50%, 04/01/2013		11,348
		General Mills, Inc.
	5,870	5.70%, 02/15/2017		5,900
		PepsiCo, Inc.
	20,474	7.90%, 11/01/2018		25,094
		Philip Morris International, Inc.
	10,050	6.88%, 03/17/2014		10,562

				68,775

		Energy — 1.8%
		Canadian National Resources Ltd.
	1,689	6.25%, 03/15/2038		1,328
	10,165	6.50%, 02/15/2037		8,298
		Consumers Energy Co.
	4,000	5.15%, 02/15/2017		3,747
	5,190	5.38%, 04/15/2013		5,108
		Enterprise Products Operations LLC
	8,848	6.50%, 01/31/2019		7,444
		Petro-Canada
	12,815	5.95%, 05/15/2035		8,814
		Ras Laffan Liquefied Natural Gas Co., Ltd.
	946	3.44%, 09/15/2009 (I)		892
	16,410	5.30%, 09/30/2020 (I)		11,692
		Sempra Energy
	9,495	9.80%, 02/15/2019		10,593
		Shell International Finance B.V.
	9,560	6.38%, 12/15/2038		10,755
		TNK-BP Finance S.A.
	4,000	7.50%, 03/13/2013 (I)		2,480

				71,151

		Finance — 12.2%
		ABX Financing Co.
	10,013	6.35%, 10/15/2036 (I)		7,792
		American Capital Strategies Ltd.
	10,577	6.85%, 08/01/2012		4,428
		American Express Co.
	8,385	5.50%, 04/16/2013		7,943
	8,587	5.55%, 10/17/2012		8,157
		American Real Estate Partners L.P.
	5,055	7.13%, 02/15/2013		3,488
		Americo Life, Inc.
	75	7.88%, 05/01/2013 (H)		71
		Amvescap plc
	18,030	4.50%, 12/15/2009		16,951
	3,544	5.38%, 02/27/2013		3,148
		Army Hawaii Family Housing Trust Certificates
	5,370	5.52%, 06/15/2050 (I)		3,694
		BAE Systems Holdings, Inc.
	10,204	5.20%, 08/15/2015 (I)		9,492
		Bank of America Corp.
	12,600	5.65%, 05/01/2018		12,675
	8,674	8.00%, 01/30/2018 (L)		6,239
		Bank of New York Institutional Capital Trust
	200	7.78%, 12/01/2026 (I)		179
		Berkshire Hathaway Finance Corp.
	5,454	4.60%, 05/15/2013		5,454
	5,023	5.00%, 08/15/2013		5,110
		BP Capital Markets plc
	17,750	5.25%, 11/07/2013		18,530
		Centura Capital Trust I
	250	8.85%, 06/01/2027 (H)		266

The accompanying notes are an integral part of these financial statements.

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount (B)			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Finance — (continued)
		CIT Group, Inc.
	1,353	6.10%, 03/15/2067 (L)	$	418
		Citigroup, Inc.
	11,515	8.30%, 12/21/2057 (L)		8,881
	8,523	8.40%, 04/30/2018 (L)(CC)		5,628
		Comerica Capital Trust II
	9,096	6.58%, 02/20/2037 (L)		3,652
		Corpoacion Andina De Fomento
	1,020	5.20%, 05/21/2013		908
	880	5.75%, 01/12/2017		736
		COX Communications, Inc.
	10,240	5.45%, 12/15/2014		8,955
	9,020	6.25%, 06/01/2018 (I)		8,006
		Credit Agricole S.A.
	18,461	6.64%, 05/31/2017 (I)(L)(CC)		8,268
		Credit Suisse New York
	6,228	6.00%, 02/15/2018		5,719
		Deutsche Bank AG London
	8,129	4.88%, 05/20/2013		7,981
		Duke Capital LLC
	8,489	6.25%, 02/15/2013		8,077
		ERAC USA Finance Co.
	7,300	5.60%, 05/01/2015 (I)		5,385
		General Electric Capital Corp.
	7,090	5.63%, 05/01/2018		7,141
	18,350	6.37%, 11/15/2067 (L)		11,534
		Goldman Sachs Capital Trust II
	20,041	5.79%, 06/01/2012 (L)(CC)		7,704
		International Lease Finance Corp.
	5,385	6.38%, 03/25/2013		3,658
		Janus Capital Group, Inc.
	18,425	6.70%, 06/15/2017		13,733
		JP Morgan Chase & Co.
	15,343	7.90%, 04/30/2018 (CC)		12,763
		Lincoln National Corp.
	16,423	6.05%, 04/20/2067		6,569
		MBNA America Bank N.A.
	14,400	7.13%, 11/15/2012 (I)		14,724
		Mellon Capital IV
	13,374	6.24%, 06/20/2012 (L)(CC)		8,206
		National City Bank of Ohio
	1,100	4.50%, 03/15/2010		1,059
		National City Corp.
	14,683	12.00%, 12/10/2012 (CC)		13,701
		Northgroup Preferred Capital Corp.
	11,208	6.38%, 10/15/2017 (H)(L)(CC)		5,277
		NYSE Euronext
	7,596	4.80%, 06/28/2013		7,368
		Oesterreichische Kontrollbank AG
JPY	4,380,000	1.80%, 03/22/2010		48,938
		PNC Preferred Funding Trust II
	27,800	6.11%, 03/15/2012 (I)(L)(CC)		11,480
		Progressive Corp.
	14,845	6.70%, 06/15/2037 (L)		7,297
		Prudential Financial, Inc.
	11,837	5.15%, 01/15/2013		9,615
	18,313	8.88%, 06/15/2038 (L)		11,798
		Prudential Holdings LLC
	200	7.25%, 12/18/2023 (I)		202
		RBS Capital Trust IV
	18,375	2.26%, 09/30/2014 (L)(CC)		6,902
		Rio Tinto Finance USA Ltd.
	25,650	5.88%, 07/15/2013		20,430
		State Street Capital Trust III
	7,434	8.25%, 03/15/2011 (L)(CC)		5,743
		Travelers Cos, Inc.
	5,473	6.25%, 03/15/2037 (L)		3,585
		Unicredito Italiano Capital Trust
	7,260	9.20%, 10/05/2010 (I)(CC)		2,777
		Unicredito Luxembourg Finance S.A.
	11,690	6.00%, 10/31/2017 (I)		9,747
		UnitedHealth Group, Inc.
	11,678	4.88%, 02/15/2013		10,903
		US Bank Realty Corp.
	13,200	6.09%, 01/15/2012 (I)(L)(CC)		5,511
		USB Capital IX
	4,392	6.19%, 04/15/2011 (L)(CC)		2,064
		VTB Capital S.A.
	1,820	6.61%, 10/31/2012 (K)		1,269
		Wells Fargo Capital XIII
	14,530	7.70%, 03/26/2013 (L)(CC)		11,992
		Westfield Group
	5,166	5.70%, 10/01/2016 (I)		3,451
		ZFS Finance USA Trust I
	12,670	6.50%, 05/09/2037 (I)(L)		5,195

				478,567

		Foreign Governments — 5.4%
		Bundesobligation
EUR	59,110	3.50%, 04/12/2013		86,313
		El Salvador (Republic of)
	1,220	7.65%, 06/15/2035 (H)		775
	2,330	8.50%, 07/25/2011 (H)		2,249
		France (Govt. of) O.A.T.
EUR	29,450	4.25%, 10/25/2018		44,008
		United Kingdom Treasury
GBP	46,978	4.50%, 03/07/2019		75,893

				209,238

		Health Care — 1.0%
		Cardinal Health, Inc.
	8,417	5.50%, 06/15/2013		7,957
		Covidien International Finance S.A.
	4,804	5.45%, 10/15/2012		4,700
		CVS Caremark Corp.
	18,166	6.30%, 06/01/2037 (L)		9,265
		Glaxosmithkline Capital, Inc.
	10,185	4.85%, 05/15/2013		10,216
	4,924	6.38%, 05/15/2038		5,563

				37,701

		Services — 1.1%
		Comcast Corp.
	161	6.30%, 11/15/2017		157
	4,620	6.50%, 01/15/2015		4,541
	100	10.63%, 07/15/2012		106
		News America, Inc.
	4,878	6.15%, 03/01/2037		4,551
		President & Fellows of Harvard
	6,144	6.00%, 01/15/2019 (I)		6,658
		Time Warner Entertainment Co., L.P.
	14,510	8.38%, 07/15/2033		14,643
		Time Warner, Inc.
	3,310	6.50%, 11/15/2036		3,001

The accompanying notes are an integral part of these financial statements.


Principal			Market
Amount			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Services — (continued)
		Waste Management, Inc.
$	10,048	6.10%, 03/15/2018	$	8,691

				42,348

		Technology — 5.9%
		Agilent Technologies, Inc.
	7,622	6.50%, 11/01/2017		5,239
		AT&T, Inc.
	11,419	4.95%, 01/15/2013		11,482
	18,575	5.50%, 02/01/2018		18,772
	3,865	5.60%, 05/15/2018		3,935
		Cingular Wireless Services, Inc.
	12,600	8.75%, 03/01/2031		15,751
		Comcast Cable Communications, Inc.
	500	8.50%, 05/01/2027		564
		Deutsche Telekom International Finance B.V.
	14,935	6.75%, 08/20/2018		15,144
		Embarq Corp.
	11,532	7.08%, 06/01/2016		8,880
		GTE Corp.
	165	8.75%, 11/01/2021		178
		IBM Corp.
	13,725	6.50%, 10/15/2013		15,046
		Koninklijke Philips Electronics N.V.
	12,942	5.75%, 03/11/2018		11,924
		Oracle Corp.
	13,836	6.50%, 04/15/2038		15,233
		Rogers Cable, Inc.
	2,675	8.75%, 05/01/2032		2,801
		Rogers Communications, Inc.
	12,568	6.80%, 08/15/2018		12,699
		Rogers Wireless, Inc.
	4,277	6.38%, 03/01/2014		4,066
		TCI Communications, Inc.
	4,025	8.75%, 08/01/2015		4,285
		Telecom Italia Capital
	16,958	7.72%, 06/04/2038		13,927
		Tele-Communications, Inc.
	7,975	7.88%, 08/01/2013		8,200
		Tyco Electronics Group S.A.
	5,710	6.00%, 10/01/2012		5,151
	5,995	6.55%, 10/01/2017		5,038
		Verizon Communications, Inc.
	7,400	6.90%, 04/15/2038		8,327
	9,850	8.75%, 11/01/2018		11,556
		Verizon Maryland, Inc.
	1,500	8.30%, 08/01/2031		1,387
		Verizon Virginia, Inc.
	13,805	4.63%, 03/15/2013		12,354
		Verizon Wireless
	7,500	8.50%, 11/15/2018 (I)		8,788
		Vodafone Group plc
	10,479	6.15%, 02/27/2037		10,358

				231,085

		Transportation — 1.0%
		Canadian Pacific Railway Co.
	3,613	5.75%, 05/15/2013		3,344
	7,075	5.95%, 05/15/2037		4,989
		Continental Airlines, Inc.
	4,178	6.70%, 06/15/2021		3,133
	4,271	8.05%, 11/01/2020		3,417
		CSX Corp.
	6,561	6.75%, 03/15/2011		6,535
		General Dynamics Corp.
	8,149	5.25%, 02/01/2014		8,351
		Norfolk Southern Corp.
	3,925	5.75%, 04/01/2018		3,819
		Union Pacific Corp.
	5,294	5.70%, 08/15/2018		5,097

				38,685

		Utilities — 4.0%
		CenterPoint Energy Resources Corp.
	10,950	6.13%, 11/01/2017		9,207
	2,763	6.63%, 11/01/2037		2,050
		CenterPoint Energy, Inc.
	7,475	6.85%, 06/01/2015		6,738
		Commonwealth Edison Co.
	5,836	5.80%, 03/15/2018		5,275
		Detroit Edison Co.
	3,875	6.13%, 10/01/2010		3,897
		Duke Energy Corp.
	4,726	5.25%, 01/15/2018		4,828
	3,709	6.35%, 08/15/2038		4,175
	3,960	7.00%, 11/15/2018		4,570
		E.On International Finance
	6,092	5.80%, 04/30/2018 (I)		5,696
		Enbridge Energy Partners
	6,654	6.50%, 04/15/2018		5,476
		Florida Power Corp.
	3,211	5.80%, 09/15/2017		3,355
		Kinder Morgan Energy Partners L.P.
	4,720	6.50%, 02/01/2037		3,604
		NGPL Pipeco LLC
	9,472	6.51%, 12/15/2012 (I)		8,989
		Northeast Utilities
	4,375	5.65%, 06/01/2013		4,084
		Northern States Power Co.
	5,735	6.25%, 06/01/2036		6,056
		Pacific Gas & Electric Co.
	5,711	5.63%, 11/30/2017		5,849
		Pacific Gas & Electric Energy Recovery Funding LLC
	6,208	8.25%, 10/15/2018		7,459
		PSEG Power
	4,534	5.00%, 04/01/2014		4,068
		Public Service Co. of Colorado
	8,577	6.50%, 08/01/2038		9,569
		Puget Sound Energy, Inc.
	3,190	7.96%, 02/22/2010		3,249
		Southern California Edison Co.
	13,602	5.75%, 03/15/2014		14,254
		Taqa Abu Dhabi National Energy Co.
	13,525	5.62%, 10/25/2012 (I)		12,273
		TransCanada Pipelines Ltd.
	15,386	7.25%, 08/15/2038		15,316
		Virginia Electric & Power Co.
	6,327	5.10%, 11/30/2012		6,185

The accompanying notes are an integral part of these financial statements.

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount (B)			Value (W)


CORPORATE BONDS: INVESTMENT GRADE — (continued)

		Utilities — (continued)
		Westar Energy, Inc.
	1,400	5.15%, 01/01/2017	$	1,236
				157,458

		Total corporate bonds: investment grade (cost $1,615,819)	$	1,437,896


CORPORATE BONDS: NON-INVESTMENT GRADE — 2.7%
		Basic Materials — 0.4%
		Evraz Group S.A.
$	1,700	8.88%, 04/24/2013 (I)	$	867
		Potlatch Corp.
	12,100	13.00%, 12/01/2009 (H)(L)		12,805
		Vedanta Resources plc
	3,400	8.75%, 01/15/2014 (I)		2,040

				15,712

		Capital Goods — 0.1%
		Bombardier, Inc.
	3,895	6.30%, 05/01/2014 (I)		3,204
		Consumer Cyclical — 0.2%
		Parkson Retail Group Ltd.
	3,400	7.88%, 11/14/2011		2,278
		Supervalu, Inc.
	7,055	7.50%, 11/15/2014		5,785

				8,063

		Consumer Staples — 0.1%
		Arantes International
	3,300	10.25%, 06/19/2013 (H)		825
		MHP S.A.
	4,235	10.25%, 11/30/2011 (H)		1,652
		Sino-Forest Corp.
	1,994	9.13%, 08/17/2011 (K)		1,515

				3,992

		Energy — 0.2%
		Noble Group Ltd.
	2,600	6.63%, 03/17/2015 (I)		1,482
		Range Resources Corp.
	7,669	7.38%, 07/15/2013		6,691

				8,173

		Finance — 0.2%
		Citigroup (JSC Severstal)
	2,805	9.25%, 04/19/2014 (K)		1,402
		Drummond Co., Inc.
	2,865	7.38%, 02/15/2016 (H)		1,390
		LPL Holdings, Inc.
	4,475	10.75%, 12/15/2015 (H)		3,132
		Oceanografia S.A. de C.V.
	3,325	11.25%, 07/15/2015 (H)		1,729
		RBS-Zero Hora Editora Journalistica
BRL	4,100	11.25%, 06/15/2017 (H)		886
		Regional Diversified Funding
	96	9.25%, 03/15/2030 (I)		40
		TuranAlem Finance B.V.
	1,400	7.75%, 04/25/2013 (H)		588

				9,167

		Foreign Governments — 0.1%
		Argentina (Republic of)
	3,090	7.00%, 10/03/2015		897
		Venezuela (Republic of)
	2,890	5.06%, 04/20/2011 (K)(L)		1,763

				2,660

		Health Care — 0.2%
		HCA, Inc.
	8,635	9.25%, 11/15/2016		7,923
		Services — 0.2%
		Dex Media West LLC, Inc.
	1,275	9.88%, 08/15/2013		303
		DirecTV Holdings LLC
	6,015	7.63%, 05/15/2016		5,835
		Mashantucket Western Pequot Revenue Bond
	4,709	5.91%, 09/01/2021 (H)		1,547

				7,685

		Technology — 0.8%
		Advanced Micro Devices, Inc.
	9,270	6.00%, 05/01/2015 (I)(X)		2,642
		Charter Communications Operating LLC
	5,090	8.00%, 04/30/2012 (I)		4,174
		CSC Holdings, Inc.
	4,550	7.63%, 04/01/2011		4,288
		Intelsat Bermuda Ltd.
	8,670	9.25%, 06/15/2016 (H)		6,763
		Intelsat Corp.
	8,300	9.25%, 06/15/2016 (I)		7,553
		Vimpelcom
	4,100	8.38%, 04/30/2013 (I)		2,624
		Windstream Corp.
	4,410	8.63%, 08/01/2016		3,903

				31,947

		Transportation — 0.0%
		Grupo Senda Autotransporte
	2,310	10.50%, 10/03/2015 (H)		1,270
		Utilities — 0.2%
		AES El Savador Trust
	2,300	6.75%, 02/01/2016 (H)		1,640
		NRG Energy, Inc.
	4,255	7.25%, 02/01/2014		3,978
		Rede Empresas De Energia
	2,405	11.13%, 04/02/2012 (H)(CC)		1,034

				6,652

		Total corporate bonds: non-investment grade (cost $149,012)	$	106,448


MUNICIPAL BONDS — 0.2%
		General Obligations — 0.2%
		Oregon School Boards Association, Taxable Pension
$	7,325	4.76%, 06/30/2028	$	6,409
		Tax Allocation — 0.0%
		California Urban IDA
	275	6.10%, 05/01/2024		234

		Total municipal bonds (cost $7,605)	$	6,643

The accompanying notes are an integral part of these financial statements.


Principal			Market
Amount			Value (W)

SENIOR FLOATING RATE INTERESTS: INVESTMENT GRADE (V) — 0.4%
		Consumer Cyclical — 0.1%
		Delphi Corp.
$	3,820	7.25%, 03/15/2009 (F)(N)	$	2,063
		William Carter Co.
	4,232	3.32%, 07/14/2012 (N)		3,449

				5,512

		Consumer Staples — 0.2%
		WM Wrigley Jr. Co.
	6,275	7.75%, 08/12/2014 (N)		5,993
		Health Care — 0.1%
		Invitrogen Corp.
	4,127	5.25%, 09/30/2015 (N)		3,859
		Services — 0.0%
		CSC Holdings, Inc.
	2,003	2.95%, 03/29/2013 (N)		1,687

		Total senior floating rate interests: investment grade (cost $20,251)	$	17,051


SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — 3.3%
		Basic Materials — 0.6%
		Cenveo, Inc.
$	3,669	3.28%, 06/21/2013 — 03/16/2014 (N)	$	2,110
		Georgia-Pacific Corp.
	8,604	4.11%, 12/20/2012 (N)		7,034
		Goodyear Tire & Rubber Co.
	1,102	2.22%, 04/30/2014 (N)		696
		Graham Packaging Co., Inc.
	4,354	5.27%, 04/03/2014 (N)		3,144
		Hexion Specialty Chemicals
	2,888	5.50%, 05/05/2013 (N)		1,184
		Huntsman International LLC
	6,358	2.22%, 04/19/2014 (N)		3,917
		Ineos Group
	1,173	8.20%, 02/01/2013 (N)		498
	1,173	8.70%, 12/16/2014 (N)		501
		Jarden Corp.
	5,761	3.96%, 01/24/2012 (N)		4,387
		John Maneely Co.
	1,696	7.71%, 12/08/2013 (N)		920

				24,391

		Capital Goods — 0.0%
		Yankee Candle Co.
	2,575	3.40%, 02/06/2014 (N)		1,339
		Consumer Cyclical — 0.4%
		AM General LLC
	2,776	5.50%, 09/30/2013 (N)		1,804
		American General Finance Corp.
	115	0.96%, 09/30/2012 (N)		75
		Aramark Corp.
	211	2.47%, 01/26/2014 (N)		174
	3,433	3.33%, 01/26/2014 (N)		2,830
		Dollarama Group L.P.
	971	5.17%, 11/18/2011 (N)		777
		Ford Motor Co.
	13,738	5.00%, 12/16/2013 (N)		5,506
		Lear Corp.
	2,982	3.73%, 04/25/2012 (N)		1,352
		Roundy’s Supermarkets, Inc.
	3,642	4.41%, 11/03/2011 (N)		2,488

				15,006

		Consumer Staples — 0.0%
		Dole Food Co., Inc.
	407	2.71%, 04/12/2013 (N)		284
	230	4.69%, 04/12/2013 (N)		160
	1,518	4.70%, 04/12/2013 (N)		1,058

				1,502

		Energy — 0.0%
		Lyondell Chemical Co.
	3,522	7.00%, 12/22/2014 (F)(N)		1,585
		Finance — 0.2%
		Amerigroup Corp.
	840	2.50%, 03/26/2012 (N)(Q)		731
		Brickman Group Holdings, Inc.
	2,890	2.46%, 01/23/2014 (H)(N)		1,734
		Chrysler Financial Services NA
	2	6.00%, 08/03/2012 (N)		1
		Community Health Systems, Inc.
	275	3.40%, 07/25/2014 (N)(Q)		214
	5,376	4.45%, 07/25/2014 (N)		4,186
		Crescent Resources LLC
	5,385	3.96%, 09/07/2012 (H)(N)		902
		Golden Gate National
	2,687	3.21%, 03/14/2011 (N)		2,149

				9,917

		Health Care — 0.3%
		Carestream Health, Inc.
	1,012	5.42%, 04/30/2013 (N)		607
		HCA, Inc.
	4,456	3.71%, 11/17/2013 (N)		3,477
		HealthSouth Corp.
	1,945	4.70%, 03/10/2013 (N)		1,506
		IASIS Healthcare Capital Corp.
	188	0.37%, 03/17/2014 (N)		135
	2,730	2.46%, 01/15/2014 — 03/17/2014 (N)		1,954
		Skilled Healthcare Group, Inc.
	3,220	4.44%, 06/15/2012 (N)		2,254
		Vanguard Health Holdings Co. II LLC
	880	3.30%, 09/23/2011 (N)		720

				10,653

		Services — 0.7%
		Affinion Group, Inc.
	2,610	4.65%, 10/17/2012 (N)		1,749
		Cedar Fair L.P.
	2,326	2.46%, 07/21/2013 (N)		1,481
		Cengage
	927	2.96%, 07/05/2014 (N)		599
		Harrah’s Entertainment, Inc.
	1,689	6.53%, 01/28/2015 (N)		982
		Idearc, Inc.
	1,705	1.97%, 11/17/2013 (N)		560
	2,608	3.42%, 11/17/2014 (N)		792
		inVentiv Health, Inc.
	1,283	3.21%, 07/07/2014 (N)		1,010

The accompanying notes are an integral part of these financial statements.

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


Principal			Market
Amount			Value (W)


SENIOR FLOATING RATE INTERESTS: NON-INVESTMENT GRADE (V) — (continued)

		Services — (continued)
		Metavante Corp.
$	2,992	4.94%, 11/01/2014 (N)	$	2,259
		MGM Mirage, Inc.
	3,311	3.05%, 10/03/2011 (H)(N)		1,788
		R.H. Donnelley, Inc.
	5,250	6.47%, 06/30/2011 (N)		2,953
		Regal Cinemas, Inc.
	3,739	3.21%, 10/27/2013 (N)		2,736
		SunGard Data Systems, Inc.
	4,388	4.02%, 02/28/2014 (N)		2,937
		UPC Financing Partnership
	1,703	3.18%, 12/31/2014 (N)		1,109
		Venetian Macau Ltd.
	194	2.72%, 05/25/2012 (N)		96
		Venetian Macau Ltd., Term Loan
	336	2.72%, 05/25/2013 (N)		166
		West Corp.
	3,401	3.47%, 10/24/2013 (N)		2,087
		WideOpenWest Finance LLC
	11,501	8.91%, 06/29/2015 (H)(N)		2,300

				25,604

		Technology — 0.6%
		Alltel Corp.
	3,167	4.37%, 05/18/2015 (N)		3,115
		Charter Communications Operating LLC
	2,638	5.06%, 04/28/2013 (N)		1,927
		Intelsat Bermuda Ltd., Tranche B2A
	1,846	6.65%, 01/03/2014 (N)		1,400
		Intelsat Bermuda Ltd., Tranche B2B
	1,846	6.65%, 01/03/2014 (N)		1,400
		Intelsat Bermuda Ltd., Tranche B2C
	1,846	6.65%, 01/03/2014 (N)		1,400
		Mediacom Broadband LLC
	3,690	2.20%, 01/31/2015 (N)		2,435
		Mediacom Broadband LLC, Term Loan D1
	5,939	2.20%, 01/31/2015 (N)		3,920
		MetroPCS Wireless, Inc.
	4,010	4.51%, 11/04/2013 (N)		3,225
		Time Warner Telecom Holdings, Inc.
	3,996	3.04%, 07/01/2013 (N)		3,032

				21,854

		Utilities — 0.5%
		Astoria Generating Co. Acquisitions LLC
	920	4.23%, 08/23/2013 (N)		611
		Calpine Corp.
	5,833	2.88%, 03/29/2014 (N)		4,285
		NRG Energy, Inc.
	2,863	1.36%, 02/01/2013 (N)		2,494
	5,813	2.67%, 06/08/2013 (N)		5,064
		Texas Competitive Electric Holdings Co. LLC
	3,160	5.36%, 10/12/2014 (N)		2,190
	4,631	5.58%, 10/10/2014 (N)		3,192

				17,836

		Total senior floating rate interests: non-investment grade (cost $197,742)	$	129,687


U.S. GOVERNMENT AGENCIES — 35.5%
		Federal Home Loan Mortgage Corporation — 12.5%
		Mortgage Backed Securities:
$	88,600	5.00%, 2038	$	90,639
	12,621	5.03%, 2035 (L)		12,691
	25,980	5.39%, 2037 (L)		26,389
	3,313	5.46%, 2036 (L)		3,388
	55,434	5.50%, 2018 — 2037		56,369
	4,729	5.82%, 2036 (L)		4,782
	94,328	6.00%, 2017 — 2038		97,377
	144,471	6.50%, 2031 — 2038		150,219
	8	7.50%, 2029 — 2031		9

				441,863

		Remic — Pac’s:
	47,165	5.00%, 2034		47,543

				489,406

		Federal National Mortgage Association — 18.8%
		Mortgage Backed Securities:
	6,415	4.67%, 2034 — 2035 (L)		6,468
	8,546	4.69%, 2035 (L)		8,615
	7,227	4.75%, 2035 (L)		7,287
	2,354	4.83%, 2035 (L)		2,389
	4,390	4.86%, 2035 (L)		4,391
	2,970	4.87%, 2035 (L)		2,994
	19,270	4.89%, 2036 (L)		19,451
	8,320	4.94%, 2035 (L)		8,390
	364,127	5.00%, 2018 — 2038		373,195
	6,251	5.07%, 2035 (L)		6,340
	117,055	5.50%, 2013 — 2037		119,919
	23,025	6.00%, 2012 — 2033		23,826
	137,887	6.50%, 2014 — 2038		143,384
	7,579	7.00%, 2016 — 2037		7,944
	987	7.50%, 2015 — 2032		1,048
	2	8.00%, 2032		2

				735,643

		Notes:
	250	6.08%, 2009 (L)		248

				735,891


		Government National Mortgage Association — 3.1%
		Mortgage Backed Securities:
	23,257	5.50%, 2033 — 2034		23,989
	75,714	6.00%, 2031 — 2037		78,109
	16,159	6.50%, 2028 — 2032		16,988
	50	7.00%, 2030 — 2031		52
	7	8.50%, 2024		8

				119,146


		Other Government Agencies — 1.1%
		Small Business Administration Participation Certificates:
	19,948	5.56%, 2027		20,663
	21,349	5.57%, 2027		22,040

				42,703

		Total U.S. government agencies (cost $1,352,672)	$	1,387,146

The accompanying notes are an integral part of these financial statements.


Principal					Market
Amount					Value (W)

U.S. GOVERNMENT SECURITIES — 3.8%
		U.S. Treasury Securities — 3.8%
		U.S. Treasury Bonds:
$	6,847	2.00%, 2013			$	7,025
	47,240	4.50%, 2038 #				64,475

						71,500

		U.S. Treasury Notes:
	76,640	1.50%, 2010				77,783

		Total U.S. government securities (cost $141,912)			$	149,283

Shares

COMMON STOCK — 0.0%
		Telecommunication Services — 0.0%
	—	XO Holdings, Inc. (D)			$	—

		Total common stock (cost $— )			$	—

WARRANTS — 0.0%
		Telecommunication Services — 0.0%
	—	XO Holdings, Inc. (D)(H)			$	—

		Total warrants (cost $— )			$	—

PREFERRED STOCK — 0.0%
		Banks — 0.0%
	330	Federal Home Loan Mortgage Corp.			$	129

		Total preferred stock (cost $8,270 )			$	129

		Total long term investments (cost $4,057,464 )			$	3,611,642

Principal
Amount

SHORT-TERM INVESTMENTS — 6.0%
		Consumer Staples — 0.3%
		PepsiCo, Inc.
$	11,500	0.15%, 01/15/2009 (I)			$	11,499
		Energy — 0.5%
		ConocoPhillips
	13,205	0.30%, 01/08/2009 (I)				13,204
	5,795	0.35%, 01/12/2009 (I)				5,795

						18,999

		Finance — 1.3%
		European Investment Bank
	38,000	0.47%, 03/12/2009				37,944
		Kreditanstalt fuer Wiederaufbau
	12,000	0.94%, 01/20/2009 (I)				11,998

						49,942

		Health Care — 0.2%
		Pfizer, Inc.
	8,050	0.55%, 03/05/2009				8,039

Shares

		Investment Pools and Funds — 2.6%
	51,263	JP Morgan U.S. Government Money Market Fund				51,263
	—	State Street Bank U.S. Government Money Market Fund				—
	50,000	Wells Fargo Advantage Government Money Market Fund				50,000

						101,263


Principal
Amount

		Repurchase Agreements — 0.5%
		BNP Paribas Securities Corp. Repurchase Agreement (maturing on 01/02/2009 in the amount of $11,137, collateralized by U.S. Treasury Bond 8.75%, 2020, U.S. Treasury Note 7.50%, 2016, value of $11,247)
$	11,137	0.01% dated 12/31/2008				11,137
		RBS Greenwich Capital Markets Repurchase Agreement (maturing on 01/02/2009 in the amount of $7,382, collateralized by U.S. Treasury Note 3.13%, 2013, value of $7,508)
	7,382	0.03% dated 12/31/2008				7,382
		UBS Securities, Inc. Repurchase Agreement (maturing on 01/02/2009 in the amount of $1,717, collateralized by U.S. Treasury Bond 5.50%, 2028, value of $1,718)
	1,717	0.02% dated 12/31/2008				1,717

						20,236

		Technology — 0.5%
		AT&T, Inc.
	19,000	1.05%, 01/20/2009				18,995
		U.S. Treasury Bills — 0.1%
	6,600	0.81%, 01/15/2009 (M)(S)				6,600

		Total short-term investments (cost $235,594)			$	235,573

		Total investments (cost $4,293,058) (C)	98.4	%	$	3,847,215
		Other assets and liabilities	1.6	%		61,284

		Total net assets	100.0	%	$	3,908,499


Note:	Percentage of investments as shown is the ratio of the total market value to total net assets. Market value of investments in foreign securities represents 15.35% of total net assets at December 31, 2008.


		Foreign securities that are principally traded on certain foreign markets are adjusted daily pursuant to a third party pricing service methodology approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of the foreign market but before the close of the New York Stock Exchange.

		The disclosures required by FAS 157 “Fair Value Measurements” are shown following the Schedules of Investments.

(C)		At December 31, 2008, the cost of securities for federal income tax purposes was $4,294,378 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	90,752
Unrealized Depreciation		(537,915	)

Net Unrealized Depreciation	$	(447,163	)


#		This security, or a portion of this security, has been segregated to cover funding requirements on investment transactions settling in the future.

The accompanying notes are an integral part of these financial statements.

Hartford Total Return Bond HLS Fund

Schedule of Investments — (continued)
December 31, 2008
(000’s Omitted)


(A)		The aggregate value of securities valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Fund’s Board of Directors at December 31, 2008, was $11,757, which represents 0.30% of total net assets. This calculation excludes securities that are principally traded on certain foreign markets and whose prices were adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

(CC)		Perpetual maturity security. Maturity date shown is the first call date.

(D)		Currently non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.

(F)		The company is in bankruptcy. The investment held by the fund is not in default.

(I)		Securities issued within terms of a private placement memorandum, exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Pursuant to guidelines adopted by the Board of Directors, these issues are determined to be liquid. The aggregate value of these securities at December 31, 2008, was $248,214, which represents 6.35% of total net assets.

(K)		Securities contain some restrictions as to public resale. These securities comply with Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, and are determined to be liquid. At December 31, 2008, the market value of these securities amounted to $5,949 or 0.15% of net assets.

(L)		Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2008.

(M)		The interest rate disclosed for these securities represents the effective yield on the date of acquisition.

(N)		The interest rate disclosed for these securities represents the average coupon as of December 31, 2008.

(?)		The interest rates disclosed for interest only strips represent effective yields based upon estimated future cash flows at December 31, 2008.

(Q)		The cost of securities purchased on a when-issued or delayed delivery basis at December 31, 2008 was $892.

(V)		Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one or more major United States Banks, or (iii) the bank’s certificate of deposit rate. Senior floating rate interests often require prepayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. The interest rate indicated is the rate in effect at December 31, 2008.

(X)		Convertible security.

(B)		All principal amounts are in U.S. dollars unless otherwise indicated.


BRL		— Brazilian Real
EUR		— Euro
GBP		— British Pound
JPY		— Japanese Yen


(H)		The following securities are considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933 and may have contractual restrictions on resale. A security may also be considered illiquid if the security lacks a readily available market or if its valuation has not changed for a certain period of time.


Period
Acquired	Shares/Par		Security	Cost Basis
06/2008	$	2,300	AES El Savador Trust, 6.75%, 02/01/2016 - Reg S	$	2,109
04/2003	$	75	Americo Life, Inc., 7.88%, 05/01/2013 - 144A		74
06/2008	$	3,300	Arantes International, 10.25%, 06/19/2013 - 144A		3,269
03/2005	$	83,058	Banc of America Commercial Mortgage, Inc., 4.52%, 09/11/2036 - 144A		1,115
08/2006	$	5,880	Banc of America Securities Automotive Trust, 4.49%, 02/18/2013		5,870
05/2007	$	47,108	Bayview Commercial Asset Trust, 7.00%, 07/25/2037 - 144A		6,715
08/2007	$	77,172	Bayview Commercial Asset Trust, 7.50%, 09/25/2037 - 144A		10,729
04/2007	$	4,430	Bayview Financial Acquisition Trust, 2.12%, 05/28/2037		4,430
10/2004	$	57,397	Bear Stearns Commercial Mortgage Securities, Inc., 4.07%, 07/11/2042		1,395
12/2004	$	48,541	Bear Stearns Commercial Mortgage Securities, Inc., 4.12%, 11/11/2041		983
04/2008	$	2,890	Brickman Group Holdings, Inc., 2.46%, 01/23/2014		2,680
04/2006 – 08/2007	$	70,894	CBA Commercial Small Balance Commercial Mortgage Class X1, 7.00%, 06/25/2038 - 144A		2,390
04/2006 – 08/2007	$	40,958	CBA Commercial Small Balance Commercial Mortgage Class X2, 7.00%, 07/25/2035 - 144A		1,853
05/2003	$	250	Centura Capital Trust I, 8.85%, 06/01/2027 - 144A		260
02/2007	$	—	Citigroup Mortgage Loan Trust, Inc., 0.00%, 01/25/2037 - 144A		—
08/2007	$	35,509	Citigroup Mortgage Loan Trust, Inc., 5.91%, 07/25/2037		35,437
02/2007 – 12/2008	$	1,387	Citigroup Mortgage Loan Trust, Inc., 12.00%, 01/25/2037 - 144A		2,253
08/2007	$	40,005	Countrywide Home Loans, Inc., 6.00%, 10/25/2037		39,280
07/2007	$	3,136	Credit-Based Asset Servicing and Securitization, 0.74%, 05/25/2036 - 144A		3,070
02/2007	$	5,385	Crescent Resources LLC, 3.96%, 09/07/2012		5,372
08/2008	$	2,865	Drummond Co., Inc., 7.38%, 02/15/2016 - 144A		2,513
05/2008	$	1,220	El Salvador (Republic of), 7.65%, 06/15/2035 - Reg S		1,314
09/2007	$	2,330	El Salvador (Republic of), 8.50%, 07/25/2011 - Reg S		2,482
05/2007	$	51,522	First Horizon Mortgage Pass-Through Trust, 5.83%, 05/25/2037		51,636
01/2008	$	9,400	Ford Credit Floorplan Master Owner Trust, 1.37%, 06/15/2011		9,301
06/2006	$	210,181	GE Business Loan Trust, 6.14%, 05/15/2034 - 144A		920
07/2004	$	137,437	Goldman Sachs Mortgage Securities Corp. II, 4.38%, 08/10/2038 - 144A		791
05/2008	$	2,310	Grupo Senda Autotransporte, 10.50%, 10/03/2015 - 144A		2,307
06/2006 – 08/2006	$	8,670	Intelsat Bermuda Ltd., 9.25%, 06/15/2016		8,791
03/2007	$	1,675	JP Morgan Automotive Receivable Trust, 12.85%, 03/15/2012		1,675
10/2005	$	4,921	Lehman Brothers Small Balance Commercial, 5.52%, 09/25/2030 - 144A		4,920

The accompanying notes are an integral part of these financial statements.


Period
Acquired	Shares/Par		Security	Cost Basis
09/2006	$	5,180	Lehman Brothers Small Balance Commercial, 5.62%, 09/25/2036 - 144A	$	5,178
10/2007 – 04/2008	$	4,475	LPL Holdings, Inc., 10.75%, 12/15/2015 - 144A		4,546
09/2006 – 11/2006	$	13,390	Marlin Leasing Receivables LLC, 5.33%, 09/16/2013 - 144A		13,392
07/2005	$	4,709	Mashantucket Western Pequot Revenue Bond, 5.91%, 09/01/2021 - 144A		4,709
11/2004	$	55,740	Merrill Lynch Mortgage Trust, 3.96%, 10/12/2041 - 144A		1,129
01/2007	$	3,311	MGM Mirage, Inc., 3.05%, 10/03/2011		3,284
11/2006	$	4,235	MHP S.A., 10.25%, 11/30/2011 - 144A		4,245
10/2005 – 08/2006	$	19,046	Morgan Stanley Dean Witter Capital I, 0.01%, 08/25/2032 - Reg D		324
04/2007	$	211	Nationstar Home Equity Loan Trust, 9.97%, 03/25/2037 - 144A		211
11/2006	$	3,900	North Street Referenced Linked Notes, 4.52%, 08/01/2010 - 144A		3,621
05/2007	$	11,208	Northgroup Preferred Capital Corp., 6.38%, 10/15/2017 - 144A		11,208
07/2008	$	3,325	Oceanografia S.A. de C.V., 11.25%, 07/15/2015 - 144A		3,286
03/2007	$	3,875	Option One Mortgage Loan Trust Class M6, 6.99%, 03/25/2037		3,798
03/2007	$	2,575	Option One Mortgage Loan Trust Class M7, 6.99%, 03/25/2037		2,371
03/2007		2,525	Option One Mortgage Loan Trust Class M8, 6.99%, 03/25/2037		2,198
03/2005	$	2,609	Popular ABS Mortgage Pass-Through Trust, 5.42%, 04/25/2035		2,609
10/2001 – 11/2001	$	12,100	Potlatch Corp., 13.00%, 12/01/2009		12,288
10/2007	$	4,100	RBS-Zero Hora Editora Journalistica, 11.25%, 06/15/2017 - Reg S		2,130
04/2008 – 06/2008	$	2,405	Rede Empresas De Energia, 11.13%, 04/02/2012 - 144A		2,338
03/2005	$	3,891	Renaissance Home Equity Loan Trust, 5.36%, 05/25/2035		3,891
03/2006	$	6,480	Renaissance Home Equity Loan Trust, 5.75%, 05/25/2036		6,480
08/2007	$	4,300	Renaissance Home Equity Loan Trust Class M5, 7.00%, 09/25/2037		3,239
08/2007	$	5,375	Renaissance Home Equity Loan Trust Class M8, 7.00%, 09/25/2037		2,974
02/2007	$	369	Soundview NIM Trust, 0.00%, 12/25/2036 - 144A		369
10/2007	$	17,050	Swift Master Automotive Receivables Trust, 1.85%, 10/15/2012		17,050
09/2007 – 10/2007	$	1,400	TuranAlem Finance B.V., 7.75%, 04/25/2013 - Reg S		1,249
02/2004	$	47,086	Wachovia Bank Commercial Mortgage Trust, 3.65%, 02/15/2041 - 144A		795
08/2007	$	2,088,656	Wachovia Bank Commercial Mortgage Trust, 10.00%, 02/15/2051		3,069
06/2007	$	19,570	Wamu Commercial Mortgage Securities Trust, 6.14%, 03/23/2045 - 144A		19,495
03/2008	$	12,953	Wells Fargo Alternative Loan Trust, 6.25%, 11/25/2037		10,444
06/2007 – 12/2008	$	11,501	WideOpenWest Finance LLC, 8.91%, 06/29/2015		11,151
05/2006		—	XO Holdings, Inc.		—


		The aggregate value of these securities at December 31, 2008 was $225,700 which represents 5.77% of total net assets.

(S)		December 31, 2008 Security pledged as initial margin deposit for open futures contracts at December 31, 2008.

		Futures Contracts Outstanding at December 31, 2008

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

2 Year U.S. Treasury Note

1,426

Long

Mar 2009

2,166

5 Year U.S. Treasury Note

614

Long

Mar 2009

708

10 Year U.S. Treasury Note

1,617

Short

Mar 2009

(9,332

)

Euro Bond

243

Long

Mar 2009

1,107

U.S. Long Bond

480

Long

Mar 2009

6,174

823


		* The number of contracts does not omit 000’s.

IDA — Industrial Development Authority Bond

Forward Foreign Currency Contracts Outstanding at December 31, 2008


							Unrealized
	Market		Contract		Delivery		Appreciation/
Description	Value (W)		Amount		Date		(Depreciation)

British Pound (Sell)	$	67,673	$	70,508		03/17/09	$	2,835
Euro (Buy)		83,246		77,810		01/07/09		5,436
Euro (Sell)		134,343		129,656		01/07/09		(4,687	)
Euro (Buy)		43,333		39,888		01/08/09		3,445
Euro (Sell)		83,745		80,145		01/08/09		(3,600	)
Euro (Sell)		42,715		39,207		01/09/09		(3,508	)
Japanese Yen (Buy)		49,643		50,354		03/04/09		(711	)
Japanese Yen (Sell)		73,714		72,124		03/04/09		(1,590	)

							$	(2,380	)


(W)		See Note 2b of accompanying Notes to Financial Statements regarding valuation of securities.

Hartford Series Fund, Inc.

FAS 157 Disclosure of Investment Valuation Hierarchy Levels
December 31, 2008
(000’s Omitted)


	Hartford			Hartford			Hartford			Hartford
	Advisers			Capital Appreciation			Dividend and Growth			International Opportunities
	HLS Fund			HLS Fund			HLS Fund			HLS Fund
Assets:
Investment in securities — Level 1	$	2,596,897		$	6,186,130		$	4,386,828		$	277,632
Investment in securities — Level 2		1,314,385			1,000,909			—			911,575
Investment in securities — Level 3		20,737			61,980			30			58,546

Total	$	3,932,019		$	7,249,019		$	4,386,858		$	1,247,753

Other financial instruments — Level 1 *	$	—		$	—		$	—		$	—
Other financial instruments — Level 2 *		25			154			—			19

Total	$	25		$	154		$	—		$	19


Liabilities:
Securities sold short — Level 1	$	—		$	—		$	—		$	—

Total	$	—		$	—		$	—		$	—

Other financial instruments — Level 1 *	$	—		$	—		$	—		$	—
Other financial instruments — Level 2 *		—			23			—			33

Total	$	—		$	23		$	—		$	33

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the investment.
Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

Assets:
Securities:
Balance as of December 31, 2007	$	13,641		$	57,740		$	—		$	—
Realized gain (loss)		—			(640	)		—			—
Change in unrealized appreciation (depreciation) (V)		(222	)		(19,574	)		—			—
Net purchases (sales)		(117	)		6,326			—			—
Transfers in and /or out of Level 3		7,435			18,128			30			58,546

Balance as of December 31, 2008	$	20,737		$	61,980		$	30		$	58,546

(V) Change in unrealized gains or losses relating to assets still held at December 31, 2008	$	(42,047	)	$	(34,122	)	$	(13,570	)	$	(11,202	)

Other financial instruments:
Balance as of December 31, 2007	$	—		$	—		$	—		$	—
Realized gain (loss) †		—			—			—			—
Change in unrealized appreciation (depreciation)		—			—			—			—

Balance as of December 31, 2008	$	—		$	—		$	—		$	—


Liabilities:
Other financial instruments:
Balance as of December 31, 2007	$	—		$	—		$	—		$	—
Realized gain (loss) †		—			—			—			—
Change in unrealized appreciation (depreciation)		—			—			—			—

Balance as of December 31, 2008	$	—		$	—		$	—		$	—

† The realized gain (loss) earned during the period ended December 31, 2008, for other financial instruments	$	—		$	—		$	—		$	—

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Statements of Assets and Liabilities
December 31, 2008
(000’s Omitted)


										Hartford
	Hartford			Hartford			Hartford			International
	Advisers			Capital Appreciation			Dividend and Growth			Opportunities
	HLS Fund			HLS Fund			HLS Fund			HLS Fund
Assets:
Investments in securities, at value; (amortized cost for Money Market Fund) @	$	3,932,019		$	7,249,019		$	4,386,858		$	1,247,753
Cash		—			70			1			1
Foreign currency on deposit with custodian #		—			5			—			1,283
Unrealized appreciation on forward foreign currency contracts		25			154			—			19
Receivables:
Investment securities sold		71,711			74,802			37,579			—
Fund shares sold		310			12,397			3,532			1,807
Dividends and interest		20,211			17,924			9,791			1,801
Variation margin		—			—			—			—
Swap premiums paid		—			—			—			—
Other assets		14			29			15			5

Total assets		4,024,290			7,354,400			4,437,776			1,252,669


Liabilities:
Unrealized depreciation on forward foreign currency contracts		—			23			—			33
Unrealized depreciation on swaps		—			—			—			—
Payables:
Investment securities purchased		65,622			25,966			23,655			15,278
Fund shares redeemed		4,108			13,516			7,299			1,549
Variation margin		—			—			—			—
Investment management and advisory fees (Note 5)		346			671			413			130
Administrative fee		168			307			185			52
Distribution fees (Note 5)		29			68			41			10
Accrued expenses		492			800			431			162

Total liabilities		70,765			41,351			32,024			17,214

Net assets	$	3,953,525		$	7,313,049		$	4,405,752		$	1,235,455


Summary of Net Assets:
Capital stock and paid-in-capital	$	6,096,114		$	12,264,510		$	5,408,396		$	1,894,116
Accumulated undistributed (distributions in excess of) net investment income (loss)		5,796			(63,147	)		6,857			1,291
Accumulated net realized gain (loss) on investments and foreign currency transactions		(808,912	)		(2,085,770	)		(272,231	)		(452,663	)
Unrealized appreciation (depreciation) of investments and the translations of assets and liabilities denominated in foreign currency		(1,339,473	)		(2,802,544	)		(737,270	)		(207,289	)

Net assets	$	3,953,525		$	7,313,049		$	4,405,752		$	1,235,455

Shares authorized		9,500,000			5,000,000			4,000,000			2,625,000

Par value	$	0.001		$	0.001		$	0.001		$	0.001

Class IA: Net asset value per share	$	13.69		$	25.34		$	14.37		$	8.40

Shares outstanding		248,698			237,489			252,564			124,530

Net assets	$	3,404,626		$	6,017,984		$	3,628,793		$	1,046,234

Class IB: Net asset value per share	$	13.85		$	25.14		$	14.34		$	8.51

Shares outstanding		39,634			51,508			54,187			22,246

Net assets	$	548,899		$	1,295,065		$	776,959		$	189,221

@ Cost of securities	$	5,271,497		$	10,051,646		$	5,124,128		$	1,454,970

# Cost of foreign currency on deposit with custodian	$	—		$	4		$	—		$	1,285

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Statements of Operations
For the Year Ended December 31, 2008
(000’s Omitted)


	Hartford			Hartford			Hartford			Hartford
	Advisers			Capital Appreciation			Dividend and Growth			International Opportunities
	HLS Fund			HLS Fund			HLS Fund			HLS Fund


Investment Income:
Dividends	$	72,519		$	190,744		$	170,824		$	54,462
Interest		100,921			14,411			1,449			1,275
Securities lending		3,798			9,514			2,329			4,717
Less: Foreign tax withheld		(1,249	)		(7,185	)		(2,619	)		(6,359	)

Total investment income, net		175,989			207,484			171,983			54,095


Expenses:
Investment management and advisory fees		23,318			50,235			26,371			8,744
Administrative service fees		11,497			23,228			11,998			3,703
Distribution fees — Class IB		2,054			5,492			2,885			754
Custodian fees		92			541			12			151
Accounting services		900			1,913			817			296
Board of Directors’ fees		115			224			112			36
Other expenses		571			1,117			631			235

Total expenses (before waivers and fees paid indirectly)		38,547			82,750			42,826			13,919
Expense waivers		—			—			—			—
Commission recapture		(195	)		(463	)		(108	)		(40	)
Custodian fee offset		(97	)		(25	)		(3	)		(11	)

Total waivers and fees paid indirectly		(292	)		(488	)		(111	)		(51	)

Total expenses, net		38,255			82,262			42,715			13,868

Net investment income		137,734			125,222			129,268			40,227


Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net realized loss on investments		(769,572	)		(2,050,998	)		(264,886	)		(445,809	)
Net realized gain (loss) on futures, options and swap contracts		169	†		—			—			—
Net realized gain (loss) on foreign currency transactions		16,992			7,885			—			1,849

Net Realized Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(752,411	)		(2,043,113	)		(264,886	)		(443,960	)


Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions:
Net unrealized depreciation of investments		(1,447,755	)		(4,512,820	)		(2,110,000	)		(574,938	)
Net unrealized appreciation (depreciation) of futures, written options and swap contracts		—			—			—			—
Net unrealized appreciation (depreciation) on translation of other assets and liabilities in foreign currencies		(512	)		9,005			—			(26	)

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(1,448,267	)		(4,503,815	)		(2,110,000	)		(574,964	)

Net Gain (Loss) on Investments, Futures, Options and Swap Contracts and Foreign Currency Transactions		(2,200,678	)		(6,546,928	)		(2,374,886	)		(1,018,924	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(2,062,944	)	$	(6,421,706	)	$	(2,245,618	)	$	(978,697	)


†		Realized gains on written options were $169 for the Advisers Fund.
*		Realized gains on written options were $257 for the Total Return Bond Fund.

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Statements of Changes in Net Assets

(000’s Omitted)


	Hartford						Hartford
	Advisers						Capital Appreciation
	HLS Fund						HLS Fund
				For the			For the			For the
				Year Ended			Year Ended			Year Ended
	For the Year Ended December 31, 2008			December 31, 2007			December 31, 2008			December 31, 2007
Operations:
Net investment income (loss)	$	137,734		$	168,591		$	125,222		$	91,811
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(752,411	)		712,989			(2,043,113	)		2,986,342
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		(1,448,267	)		(348,371	)		(4,503,815	)		(780,179	)

Net increase (decrease) in net assets resulting from operations		(2,062,944	)		533,209			(6,421,706	)		2,297,974


Distributions to Shareholders:
From net investment income
Class IA		(139,941	)		(142,547	)		(166,956	)		(14,174	)
Class IB		(20,362	)		(21,144	)		(30,787	)		(1,723	)
From net realized gain on investments
Class IA		(30,655	)		(690,218	)		(938,545	)		(1,956,055	)
Class IB		(5,074	)		(118,127	)		(219,929	)		(475,949	)

Total distributions		(196,032	)		(972,036	)		(1,356,217	)		(2,447,901	)


Capital Share Transactions:
Class IA
Sold		116,973			139,185			956,013			633,897
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		170,596			832,765			1,105,501			1,970,229
Redeemed		(1,235,301	)		(1,512,219	)		(1,832,987	)		(2,115,211	)

Total capital share transactions		(947,732	)		(540,269	)		228,527			488,915

Class IB
Sold		45,838			49,742			275,690			345,742
Issued on reinvestment of distributions		25,436			139,271			250,716			477,672
Redeemed		(282,515	)		(298,662	)		(721,700	)		(662,081	)

Total capital share transactions		(211,241	)		(109,649	)		(195,294	)		161,333

Net increase (decrease) from capital share transactions		(1,158,973	)		(649,918	)		33,233			650,248

Net increase (decrease) in net assets		(3,417,949	)		(1,088,745	)		(7,744,690	)		500,321

Net Assets:
Beginning of period		7,371,474			8,460,219			15,057,739			14,557,418

End of period	$	3,953,525		$	7,371,474		$	7,313,049		$	15,057,739

Accumulated undistributed (distribution in excess of) net investment income	$	5,796		$	11,397		$	(63,147	)	$	20,323


Shares:
Class IA
Sold		6,258			5,936			25,491			11,027
Issued in merger		—			—			—			—
Issued on reinvestment of distributions		11,601			39,579			27,446			37,635
Redeemed		(69,104	)		(64,513	)		(46,572	)		(37,156	)

Total share activity		(51,245	)		(18,998	)		6,365			11,506

Class IB
Sold		2,395			2,106			6,314			6,042
Issued on reinvestment of distributions		1,697			6,552			6,168			9,201
Redeemed		(15,458	)		(12,626	)		(17,382	)		(11,659	)

Total share activity		(11,366	)		(3,968	)		(4,900	)		3,584

The accompanying notes are an integral part of these financial statements.


Hartford
Dividend and Growth
HLS Fund						Hartford International
			For the			Opportunities HLS Fund
For the			Year Ended			For the			For the
Year Ended December 31,			December 31,			Year Ended			Year Ended
2008			2007			December 31, 2008			December 31, 2007

$	129,268		$	123,136		$	40,227		$	23,331

	(264,886	)		612,843			(443,960	)		444,474


	(2,110,000	)		(149,327	)		(574,964	)		49,261

	(2,245,618	)		586,652			(978,697	)		517,066



	(108,479	)		(97,796	)		(33,867	)		(21,053	)
	(20,732	)		(21,463	)		(5,334	)		(3,363	)

	(102,838	)		(454,662	)		(67,380	)		(362,704	)
	(24,561	)		(119,019	)		(13,034	)		(75,930	)

	(256,610	)		(692,940	)		(119,615	)		(463,050	)



	550,662			593,091			203,674			229,936
	—			—			—			99,957
	211,317			552,458			101,247			383,757
	(946,202	)		(885,180	)		(365,227	)		(321,451	)

	(184,223	)		260,369			(60,306	)		392,199


	106,679			129,203			49,255			49,416
	45,293			140,482			18,368			79,293
	(403,920	)		(355,119	)		(117,772	)		(109,128	)

	(251,948	)		(85,434	)		(50,149	)		19,581

	(436,171	)		174,935			(110,455	)		411,780

	(2,938,399	)		68,647			(1,208,767	)		465,796

	7,344,151			7,275,504			2,444,222			1,978,426

$	4,405,752		$	7,344,151		$	1,235,455		$	2,444,222


$	6,857		$	6,911		$	1,291		$	(1,273	)



	29,615			24,682			16,513			13,760
	—			—			—			5,347
	12,502			24,780			8,948			25,242
	(51,011	)		(36,858	)		(30,701	)		(19,373	)

	(8,894	)		12,604			(5,240	)		24,976


	5,386			5,346			3,955			2,912
	2,633			6,314			1,571			5,158
	(21,227	)		(14,854	)		(9,716	)		(6,533	)

	(13,208	)		(3,194	)		(4,190	)		1,537

Hartford Series Fund, Inc.

Statements of Changes in Net Assets — (continued)

(000’s Omitted)


	Hartford						Hartford
	Money Market						Small Company
	HLS Fund						HLS Fund
	For the			For the			For the			For the
	Year Ended			Year Ended			Year Ended			Year Ended
	December 31, 2008			December 31, 2007			December 31, 2008			December 31, 2007
Operations:
Net investment income (loss)	$	78,080		$	108,541		$	1,524		$	(1,112	)
Net realized gain (loss) on investments, futures, options and swap contracts and foreign currency transactions		(13,032	)		52			(297,169	)		176,151
Net unrealized appreciation (depreciation) of investments, futures, options and swap contracts and foreign currency transactions		—			—			(377,603	)		26,360
Payment from (to) affiliate		—			—			—			3,000

Net increase (decrease) in net assets resulting from operations		65,048			108,593			(673,248	)		204,399


Distributions to Shareholders:
From net investment income
Class IA		(65,065	)		(90,770	)		(1,145	)		(2,999	)
Class IB		(11,060	)		(17,771	)		—			—
From net realized gain on investments
Class IA		—			(43	)		(3,860	)		(187,848	)
Class IB		—			(9	)		(935	)		(49,715	)

Total distributions		(76,125	)		(108,593	)		(5,940	)		(240,562	)


Capital Share Transactions:
Class IA
Sold		4,105,607			2,394,176			264,282			270,005
Issued on in-kind transactions		—			—			—			12,557	*
Issued on reinvestment of distributions		64,851			90,667			5,005			190,847
Redeemed		(1,958,058	)		(1,819,153	)		(216,867	)		(290,452	)

Total capital share transactions		2,212,400			665,690			52,420			182,957

Class IB
Sold		765,243			503,545			102,296			85,328
Issued on reinvestment of distributions		11,013			17,750			935			49,715
Redeemed		(453,017	)		(388,244	)		(109,193	)		(120,205	)

Total capital share transactions		323,239			133,051			(5,962	)		14,838

Net increase (decrease) from capital share transactions		2,535,639			798,741			46,458			197,795

Net increase (decrease) in net assets		2,524,562			798,741			(632,730	)		161,632

Net Assets:
Beginning of period		2,677,100			1,878,359			1,605,219			1,443,587

End of period	$	5,201,662		$	2,677,100		$	972,489		$	1,605,219

Accumulated undistributed (distribution in excess of) net investment income	$	1,955		$	—		$	(5	)	$	(161	)


Shares:
Class IA
Sold		4,105,606			2,394,177			17,252			13,231
Issued on in-kind transactions		—			—			—			614	*
Issued on reinvestment of distributions		64,851			90,667			331			10,324
Redeemed		(1,958,057	)		(1,819,153	)		(14,953	)		(14,477	)

Total share activity		2,212,400			665,691			2,630			9,692

Class IB
Sold		765,243			503,545			6,753			4,302
Issued on reinvestment of distributions		11,013			17,750			55			2,744
Redeemed		(453,017	)		(388,245	)		(7,310	)		(6,155	)

Total share activity		323,239			133,050			(502	)		891


^*		During the year ended December 31, 2007, Hartford Small Company HLS Fund received in-kind subscriptions of securities from a shareholder in exchange for shares of this fund.

The accompanying notes are an integral part of these financial statements.

Hartford Series Fund, Inc.

Notes to Financial Statements
December 31, 2008
(000’s Omitted)


1.	Organization:

Hartford Series Fund, Inc. (“Company”) is an open-end management investment company comprised of thirty-four portfolios. Eight portfolios are included in these financial statements. They are Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund, and Hartford Total Return Bond HLS Fund, (each a “Fund” or together the “Funds”).

The Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended (“1940 Act”), as a diversified open-end management investment company.


2.	Significant Accounting Policies:

The following is a summary of significant accounting policies of the Funds, which are in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).


	a)	Security Transactions and Investment Income — Security transactions are recorded on the trade date (the date the order to buy or sell is executed). Security gains and losses are determined on the basis of identified cost.


	b)	Security Valuation — Except for Hartford Money Market HLS Fund, the Funds generally use market prices in valuing portfolio securities. If market prices are not readily available or are deemed unreliable, a Fund will use the fair value of the security as determined in good faith under policies and procedures established by and under the supervision of that Fund’s Board of Directors. Market prices may be deemed unreliable, for example, if a security is thinly traded or if an event has occurred after the close of the security’s primary markets, but before the close of the New York Stock Exchange (the “Exchange”) (normally 4:00 p.m. Eastern Time, referred to as the “Valuation Time”) that is expected to affect the value of the portfolio security. The circumstances in which a Fund may use fair value pricing include, among others: (i) the occurrence of events that are significant to a particular issuer, such as mergers, restructuring or defaults; (ii) the occurrence of events that are significant to an entire market, such as natural disasters in a particular region or governmental actions; (iii) trading restrictions on securities; (iv) thinly traded securities and (v) market events such as trading halts and early market closings. In addition, with respect to the valuation of stocks primarily traded on foreign markets, each Fund uses a fair value pricing service approved by that Fund’s Board of Directors, which employs quantitative models which evaluate changes in the value of foreign market proxies (e.g., futures contracts, ADR’s, ETF’s) after the close of the foreign markets but before the close of the Exchange. Securities that are primarily traded on foreign markets may trade on days that are not business days of the Funds. The value of the portfolio securities of a Fund that invests in foreign securities may change on days when a shareholder will not be able to purchase or redeem shares of the Fund. Fair value pricing is subjective in nature and the use of fair value pricing by the Funds may cause the NAV of their respective shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio security is primarily traded but before the close of the Exchange. There can be no assurance that any Fund could obtain the fair value assigned to a security if the Fund were to sell the security at approximately the time at which that Fund determines its NAV.

or market at the Valuation Time, the value of the security shall be taken to be the most recent mean between bid and asked prices on such exchange or market at the Valuation Time.

Securities of foreign issuers and non-dollar securities are translated from the local currency into U.S. dollars using prevailing exchange rates.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund on the valuation date.


	c)	Foreign Currency Transactions — The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at the prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.


	d)	Securities Lending — The Funds, except for the Hartford Money Market HLS Fund, may lend their securities to certain qualified brokers who pay these Funds negotiated lender fees. The loans are fully collateralized at all times with cash and/or U.S. Government Securities and/or repurchase agreements. The cash collateral is then invested in short-term money market instruments. The repurchase agreements are fully collateralized by U.S. Government Securities. The adequacy of the collateral for securities on loan is monitored on a daily basis. For instances where the market value of collateral falls below the market value of the securities out on loan, such collateral is supplemented on the following business day.


	e)	Joint Trading Account — Pursuant to an exemptive order issued by the SEC, the Funds may transfer uninvested cash balances into a joint trading account managed by Hartford Investment Management Company (“Hartford Investment Management”), a wholly-owned indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”), or Wellington Management Company, LLP (“Wellington”). These balances may be invested in one or more repurchase agreements and/or short-term money market instruments.

	f)	Repurchase Agreements — A repurchase agreement is an agreement by which the seller of a security agrees to repurchase the security sold at a mutually agreed upon time and price. At the time the Funds enter into a repurchase agreement, the value of the underlying collateral security(ies), including accrued interest, will be equal to or exceed the value of the repurchase agreement. Securities that serve to collateralize the repurchase agreement are held by each Fund’s custodian in book entry or physical form in the custodial account of the Funds or in a third party custodial account. Repurchase agreements are valued at cost plus accrued interest. Certain Funds, as shown on the Schedule of Investments, had outstanding repurchase agreements as of December 31, 2008.

	g)	Reverse Repurchase Agreements — Each Fund may also enter into reverse repurchase agreements. Reverse repurchase agreements involve sales by a Fund of portfolio assets concurrently with an agreement by the Fund to repurchase the same assets at a later date at a fixed price. Reverse repurchase agreements carry the risk that the market value of the securities which a Fund is obligated to repurchase may decline below the repurchase price. A

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

reverse repurchase agreement is viewed as a collateralized borrowing by a Fund. Borrowing magnifies the potential for gain or loss on the portfolio securities of a Fund and, therefore, increases the possibility of a fluctuation in the Fund’s NAV. Reverse Repurchase Agreements are valued at proceeds plus accrued interest. There were no outstanding reverse repurchase agreements as of December 31, 2008.


	h)	Forward Foreign Currency Contracts — Each Fund may enter into forward foreign currency contracts that obligate the Funds to repurchase/replace or sell currencies at specified future dates. The Funds may enter into forward foreign currency contracts to hedge against adverse fluctuations in exchange rates between currencies.


	i)	Indexed Securities — The Funds may invest in indexed securities whose values are linked to changes in interest rates, indices, or other underlying instruments. The Funds use these securities to increase or decrease their exposure to different underlying instruments and to gain exposure to markets that might be difficult to invest in using conventional securities. Indexed securities may be more volatile than their underlying instruments, but any loss is limited to the amount of the original investment and there may be a limit to the potential appreciation of the investment. Certain Funds had investments in indexed securities, as of December 31, 2008, as shown in the Schedule of Investments under Exchange Traded Funds.

	j)	Fund Share Valuation and Dividend Distributions to Shareholders — Orders for the Funds’ shares are executed in accordance with the investment instructions of the contract holders or plan participants. The NAV of each Fund’s shares is determined as of the close of each business day of the Exchange. The NAV is determined separately for each class of each Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Orders for the purchase of a Fund’s shares received by an insurance company or plan prior to the close of the Exchange on any day on which the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders received by an insurance company or plan after the close of the Exchange, or on a day on which the Exchange and/or the Fund is not open for business, are priced at the next determined NAV.


	k)	Illiquid and Restricted Securities — Each Fund is permitted to invest up to 15% of its net assets in illiquid securities, except for Hartford Money Market HLS Fund which may invest up to 10% in such securities. “Illiquid Securities” are those that may not be sold or disposed of in the ordinary course of business within seven days, at approximately the price used to determine a Fund’s NAV. A Fund may not be able to sell illiquid securities or other investments when its sub-adviser considers it desirable to do so or may have to sell such securities or investments at a price that is lower than the price that could be obtained if the securities or investments were more liquid. A sale of illiquid securities or other investments may require more time and may result in higher dealer discounts and other selling expenses than does the sale of those that are liquid. Illiquid securities and investments also may be more difficult to value, due to the unavailability of reliable market quotations for such securities or investments, and investment in them may have an adverse impact on NAV. Each Fund may also purchase certain restricted securities, commonly known as Rule 144A securities, that can be resold to institutions and which may be determined to be liquid pursuant to policies and guidelines established by the Funds’ Board of Directors. Certain Funds, as shown in the Schedule of Investments, had illiquid or restricted securities as of December 31, 2008.

	l)	Securities Purchased on a When-Issued or Delayed-Delivery Basis — Delivery and payment for securities that have been purchased by the Funds on a forward commitment, or when-issued or delayed-delivery basis take place beyond the customary settlement period. During this period, such securities are subject to market fluctuations, and the Funds identify securities segregated in their records with value at least equal to the amount of the commitment. As of December 31, 2008, the Funds had entered into outstanding when-issued or forward commitments as follows:


Fund	Cost

Hartford Advisers HLS Fund	$	65,622
Hartford Total Return Bond HLS Fund		892


	m)	Credit Risk — Credit risk depends largely on the perceived financial health of bond issuers. In general, lower rated bonds have higher credit risk. High yield bond prices can fall on bad news about the economy, an industry or a company. The share price, yield and total return of a Fund which holds securities with higher credit risk may fluctuate more than with less aggressive bond funds.

	n)	Senior Floating Rate Interests — Certain Funds, as shown in the Schedule of Investments, may invest in senior floating rate interests. Senior floating rate interests hold the most senior position in the capital structure of a business entity (the “Borrower”), are typically secured by specific collateral and have a claim on the assets and/or stock of the Borrower that is senior to that held by subordinated debtholders and stockholders of the Borrower. Senior


		floating rate interests are typically structured and administered by a financial institution that acts as the agent of the lenders participating in the senior floating rate interest. Senior floating rate interests are typically rated below-investment-grade, which suggests they are more likely to default and generally pay higher interest rates than investment-grade loans. A default could lead to non-payment of income which would result in a reduction of income to the Fund and there can be no assurance that the liquidation of any collateral would satisfy the Borrower’s obligation in the event of non-payment of scheduled interest or principal payments, or that such collateral could be readily liquidated.


	o)	Prepayment Risks — Most senior floating rate interests and certain debt securities allow for prepayment of principal without penalty. Senior floating rate interests and securities subject to prepayment risk generally offer less potential for gains when interest rates decline, and may offer a greater potential for loss when interest rates rise. In addition, with respect to securities, rising interest rates may cause prepayments to occur at a slower than expected rate, thereby effectively lengthening the maturity of the security and making the security more sensitive to interest rate changes. Prepayment risk is a major risk of mortgage-backed securities and certain asset-backed securities. Accordingly, the potential for the value of a senior floating rate interest or debt security to increase in response to interest rate declines is limited. For certain asset-backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.


	p)	Swaps — Certain Funds may enter into event linked swaps, including credit default swaps. The credit default swap market allows a Fund to manage credit risk through buying and selling credit protection on a specific issuer, an index, or a basket of issuers. A “buyer” of credit protection agrees to pay a counterparty to assume the credit risk of an issuer upon the occurrence of certain events. The “seller” of the protection receives periodic payments and agrees to assume the credit risk of an issuer upon the occurrence of certain events. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract.


	q)	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of income and expenses during the period. Operating results in the future could vary from the amounts derived from management’s estimates.

	r)	Financial Accounting Standards Board Financial Accounting Standards No. 157 — Effective January 1, 2008, the Funds adopted Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”). This standard clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements. Fair value is defined under FAS 157 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Under FAS 157, a fair value measurement should reflect all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance.


	•	Level 1 — Quoted prices in active markets for identical securities. Level 1 includes exchange-traded instruments such as domestic equities, some foreign equities, options, futures, mutual funds, ETF’s, repurchase agreements and rights and warrants.
	•	Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar securities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the security. Level 2 includes debt securities that are traded less frequently than exchange-traded instruments and which are valued using third party pricing services and foreign equities, whose value is determined using a multi-factor regression model with inputs that are observable in the market; and money market instruments, which are carried at amortized cost.
	•	Level 3 — Significant unobservable inputs that are supported by little or no market activity. Level 3 includes financial instruments whose values are determined using broker quotes and requires significant management judgment or estimation. This category includes broker-quoted securities, long dated OTC options and securities where trading has been halted or there are certain restrictions on trading. While these securities are priced using unobservable inputs, the valuation of these securities reflects the best available data and management believes the prices are a good representation of exit price.

Individual securities within any of the above mentioned asset classes may be assigned a different hierarchical level than that presented above, as individual circumstances dictate.

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

Refer to the valuation hierarchy levels summary and the Level 3 roll forward reconciliation found following the Schedules of Investments.


	s)	Financial Accounting Standards Board Financial Accounting Standards No. 161 — In March 2008, the FASB released Statement of Financial Accounting Standards No. 161, “Disclosures about Derivative Instruments and Hedging Activities” (“FAS 161”). FAS 161 requires companies to disclose information detailing the objectives and strategies for using derivative instruments, the level of derivative activity entered into by the company and any credit risk- related contingent features of the agreements. The application of FAS 161 is required for fiscal years and interim periods beginning after November 15, 2008. At this time, management is evaluating the implications of FAS 161 and has not yet implemented the new disclosure standard.

	t)	Indemnifications: Under the Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland Corporate Law and the federal securities law. In addition, the Company, on behalf of the Funds, may enter into contracts that contain a variety of indemnifications. The Company’s maximum exposure under these arrangements is unknown. However, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.


3.	Futures and Options Transactions:


	Hartford Advisers HLS Fund
	Options Contracts Activity During the
	Year Ended December 31, 2008
Put Options Written During the Period	Number of Contracts*			Premium Amounts

Beginning of the period		—		$	—
Written		5,300			1,413
Expired		—			—
Closed		(5,300	)		(1,413	)
Exercised		—			—

End of Period		—		$	—


	Hartford Total Return Bond HLS Fund
	Options Contracts Activity During the
	Year Ended December 31, 2008
Call Options Written During the Period	Number of Contracts*			Premium Amounts

Beginning of the period		—		$	—
Written		1,370			710
Expired		—			—
Closed		(1,370	)		(710	)
Exercised		—			—

End of Period		—		$	—

* The number of contracts does not omit 000’s.


4.	Federal Income Taxes:


	a)	Federal Income Taxes — For federal income tax purposes, the Funds intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“IRC”) by distributing substantially all of their taxable net investment income and net realized capital gains to their shareholders and otherwise complying with the requirements of regulated investment companies. The Funds have distributed substantially all of their income and capital gains in prior years and each Fund intends to distribute substantially all of its income and gains prior to the next fiscal year end. Accordingly, no provision for federal income or excise taxes has been made in the accompanying financial statements. Distributions from short-term capital gains are treated as ordinary income distribution for federal income tax purposes.

	b)	Net investment income (loss ) and net realized gains (losses) may differ for financial statement and tax purposes primarily because of wash sale transactions, amortization adjustments, and differing tax treatment for investments in PFICs, derivatives, REITs, RICs, and partnerships. The character of distributions made during the year from net investment income or realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividend distributions, the fiscal year in which amounts are distributed may differ from the year that the income or realized gains (losses) were recorded by the Funds.

	c)	The tax character of distributions paid for the periods indicated is as follows (as adjusted for dividends payable):


	For the Year Ended						For the Year Ended
	December 31, 2008						December 31, 2007
			Long-Term		Tax				Long-Term
	Ordinary		Capital		return of		Ordinary		Capital
	Income		Gains(a)		capital		Income		Gains(a)

Hartford Advisers HLS Fund	$	165,176	$	30,856	$	—	$	685,113	$	286,923
Hartford Capital Appreciation HLS Fund		484,893		871,324		—		706,183		1,741,718
Hartford Dividend and Growth HLS Fund		148,624		107,986		—		162,791		530,149
Hartford International Opportunities HLS Fund		97,735		21,880		—		218,997		244,053
Hartford Money Market HLS Fund		76,078		—		—		108,593		—
Hartford Small Company HLS Fund		1,146		4,794		—		152,417		88,145
Hartford Stock HLS Fund		78,096		6,404		—		460,819		261,474
Hartford Total Return Bond HLS Fund		282,435		—		—		230,998		—


	(a)	The Funds designate these distributions as long-term gain capital dividends per IRC code Sec. 852(b)(3)(C).

As of December 31, 2008, the components of distributable earnings (deficit) on tax basis were as follows:


											Total
	Undistributed		Undistributed		Accumulated			Unrealized			Accumulated
	Ordinary		Long-Term		Capital and Other			Appreciation			Earnings
	Income		Capital Gain		Losses*			(Depreciation)@			(Deficit)

Hartford Advisers HLS Fund	$	5,821	$	—	$	(716,620	)	$	(1,431,790	)	$	(2,142,589	)
Hartford Capital Appreciation HLS Fund		—		—		(1,588,323	)		(3,363,138	)		(4,951,461	)
Hartford Dividend and Growth HLS Fund		6,857		—		(252,046	)		(757,455	)		(1,002,644	)
Hartford International Opportunities HLS Fund		1,284		—		(395,755	)		(264,190	)		(658,661	)
Hartford Money Market HLS Fund		2,002		—		(13,032	)		—			(11,030	)
Hartford Small Company HLS Fund		—		—		(282,842	)		(235,277	)		(518,119	)
Hartford Stock HLS Fund		3,429		—		(676,353	)		(1,111,932	)		(1,784,856	)
Hartford Total Return Bond HLS Fund		—		—		(252,880	)		(447,527	)		(700,407	)


	*	Certain Funds had capital loss carryforwards that are identified in Note 4 (d).

	@	The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of wash sales losses, the mark-to-market adjustment for certain derivatives in accordance with IRC Sec. 1256, mark to market of Passive Foreign Investment Companies and basis differences in real estate investment trusts.


	d)	Reclassification of Capital Accounts:

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

depending on the type of book and tax differences that exist. For the year ended December 31, 2008, the Funds recorded the following reclassifications to increase (decrease) the accounts listed below.


	Undistributed			Accumulated
	Net Investment			Net Realized			Paid-in-
	Income			Gain (Loss)			Capital

Hartford Advisers HLS Fund	$	16,968		$	(16,968	)	$	—
Hartford Capital Appreciation HLS Fund		(10,949	)		10,948			1
Hartford Dividend and Growth HLS Fund		(111	)		111			—
Hartford International Opportunities HLS Fund		1,538			(1,488	)		(50	)
Hartford Money Market HLS Fund		—			—			—
Hartford Small Company HLS Fund		(223	)		189			34
Hartford Stock HLS Fund		15,978			(15,979	)		1
Hartford Total Return Bond HLS Fund		16,999			(17,007	)		8


	e)	Capital Loss Carryforward:

At December 31, 2008 (tax-year-end), the following Funds had capital loss carryforwards for U.S. federal income tax purposes of approximately:


Fund	2009		2010		2011		2012		2013		2014		2015		2016		Total

Hartford Advisers HLS Fund	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	455,474	$	455,474
Hartford Capital Appreciation HLS Fund		—		—		—		—		—		—		—		735,471		735,471
Hartford Dividend and Growth HLS Fund		—		—		—		—		—		—		—		39,088		39,088
Hartford International Opportunities HLS Fund		3,630		1,046		—		—		—		—		—		209,068		213,744
Hartford Money Market HLS Fund		—		—		—		—		—		—		—		13,032		13,032
Hartford Small Company HLS Fund		—		—		—		—		—		—		—		156,735		156,735
Hartford Stock HLS Fund		—		—		—		—		—		—		—		431,980		431,980
Hartford Total Return Bond HLS Fund		—		—		—		—		—		22,202		—		141,751		163,953

As of December 31, 2008, the following Funds elected to defer the following post October losses.


			Long-Term
Fund	Ordinary Income		Capital Gain

Hartford Advisers HLS Fund	$	—	$	261,146
Hartford Capital Appreciation HLS Fund		63,136		789,716
Hartford Dividend and Growth HLS Fund		—		212,958
Hartford International Opportunities HLS Fund		—		182,011
Hartford Small Company HLS Fund		—		126,107
Hartford Stock HLS Fund		—		244,373
Hartford Total Return Bond HLS Fund		17,384		71,543

Based on certain provisions in the IRC, various limitations regarding the future utilization of Hartford International Opportunities HLS Fund and Hartford Total Return Bond HLS Fund carryforwards may apply.


	f)	Financial Accounting Standards Board Interpretation No. 48 — On July 13, 2006, the FASB released FASB Interpretation No. 48 “Accounting for Uncertainty in Income Taxes” (“FIN 48”). FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. The Funds adopted FIN 48 for fiscal years beginning after December 15, 2006. Management has evaluated the implications of FIN 48 for all open tax years (tax years ended December 31, 2005 — 2008) and has determined there is no impact to the Funds’ financial statements.


5.	Expenses:


	a)	Investment Management and Advisory Agreements — HL Investment Advisors, LLC (HL Advisors), an indirect wholly-owned subsidiary of The Hartford, serves as investment manager to the Funds pursuant to an Investment Management Agreement for the Hartford Series Fund, Inc. As investment manager, HL Advisors has overall investment supervisory responsibility for each Fund. In addition, HL Advisors provides administrative personnel, services, equipment, facilities and office space for proper operation of the Funds.

HL Advisors has contracted with Wellington for the provision of day-to-day investment management services to Hartford Advisers HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford International Opportunities HLS Fund, Hartford Small Company HLS Fund, and Hartford Stock HLS Fund, in accordance with each Fund’s investment objective and policies.

In addition, HL Advisors has contracted with Hartford Investment Management for the provision of day-to-day investment management services for Hartford Money Market HLS Fund, Hartford Small Company HLS Fund, and Hartford Total Return Bond HLS Fund in accordance with each Fund’s investment objective and policies.

Each Fund pays a fee to HL Advisors, a portion of which is used to compensate Hartford Investment Management and Wellington, as applicable.


	b)	Administrative Services Agreement — Under the Administrative Services Agreement between HLIC and the Funds, HLIC provides administrative services to the Funds and receives monthly compensation at the annual rate of 0.20% of each Fund’s average daily net assets. The Funds assume and pay certain other expenses (including, but not limited to, accounting, custodian, state taxes and Directors’ fees).


Hartford Capital Appreciation HLS Fund (1),
Hartford Dividend and Growth HLS Fund (1),
and Hartford International Opportunities HLS Fund (1)
Average Daily Net Assets	Annual Fee

On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
Over $1 billion		0.625%


(1)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.7750%
On next $250 million		0.7250%
On next $500 million		0.6750%
On next $4 billion		0.6250%
On next $5 billion		0.6225%
Over $10 billion		0.6200%


Hartford Small Company HLS Fund (2)
Average Daily Net Assets	Annual Fee

On first $250 million		0.775%
On next $250 million		0.725%
On next $500 million		0.675%
On next $500 million		0.600%
Over $1.5 billion		0.550%


(2)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.7750%
On next $250 million		0.7250%
On next $500 million		0.6750%
On next $500 million		0.6000%
On next $3.5 billion		0.5500%
On next $5 billion		0.5300%
Over $10 billion		0.5200%


Hartford Advisers HLS Fund (3)
Average Daily Net Assets	Annual Fee

On first $250 million		0.680%
On next $250 million		0.655%
On next $500 million		0.645%
Over $1 billion		0.595%


(3)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.6800%
On next $250 million		0.6550%
On next $500 million		0.6450%
On next $4 billion		0.5950%
On next $5 billion		0.5925%
Over $10 billion		0.5900%


Hartford Stock HLS Fund (4)
Average Daily Net Assets	Annual Fee

On first $250 million		0.525%
On next $250 million		0.500%
On next $500 million		0.475%
Over $1 billion		0.450%


(4)		As of January 1, 2009, HL Advisors agreed to add permanent management fee breakpoints at $5 billion and $10 billion. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $250 million		0.5250%
On next $250 million		0.5000%
On next $500 million		0.4750%
On next $4 billion		0.4500%
On next $5 billion		0.4475%
Over $10 billion		0.4450%


Hartford Money Market HLS Fund (5)
Average Daily Net Assets	Annual Fee

On first $2 billion		0.450%
On next $3 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%


(5)		HL Advisors voluntarily agreed to waive management fees of 0.05% of average daily net assets until December 31, 2008. As of January 1, 2009, HL Advisors eliminated the 0.05% management fee waiver. In addition, HL Advisors voluntarily agreed to combine the first and second management fee breakpoints, permanently reducing fees on the first $2 billion of average daily net assets by 0.05%. The new schedule is as follows:


Average Daily Net Assets	Annual Fee

On first $5 billion		0.400%
On next $5 billion		0.380%
Over $10 billion		0.370%

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)


Hartford Total Return Bond HLS Fund
Average Daily Net Assets	Annual Fee

On first $250 million		0.5250%
On next $250 million		0.5000%
On next $500 million		0.4750%
On next $4 billion		0.4500%
On next $5 billion		0.4300%
Over $10 billion		0.4200%


	c)	Accounting Services Agreement — Pursuant to the Fund Accounting Agreement between HLIC and the Funds, HLIC provides accounting services to the Funds and receives monthly compensation on each Fund’s average daily net assets. The Fund’s accounting services fees are accrued daily and paid monthly.

The rates of compensation paid to HLIC are as follows:


Hartford Capital Appreciation HLS Fund
and Hartford Total Return Bond HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.018%
On next $5 billion		0.016%
Over $10 billion		0.014%


Hartford Advisers HLS Fund
and Hartford International Opportunities HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.016%
On next $5 billion		0.014%
Over $10 billion		0.012%


Hartford Dividend and Growth HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.014%
On next $5 billion		0.012%
Over $10 billion		0.010%


Hartford Small Company HLS Fund
Average Daily Net Assets	Annual Rate

On first $5 billion		0.012%
Over $5 billion		0.010%


Hartford Money Market HLS Fund,
and Hartford Stock HLS Fund
Average Daily Net Assets	Annual Rate

All assets		0.010%


	d)	Other Related Party Transactions — Certain officers of the Funds are directors and/or officers of HL Advisors, Hartford Investment Management and/or The Hartford or its subsidiaries. For the year ended December 31, 2008, a portion of the Funds’ chief compliance officer’s salary was paid by the Funds in the amount of $86. Hartford Investment Services Company LLC (“HISC”), a wholly owned subsidiary of The Hartford, provides transfer agent services to the Funds. HISC was compensated $23 for providing such services. The Funds accrue these fees daily and pay monthly.

	e)	Operating Expenses — Allocable expenses incurred by the Funds are allocated to each Fund and allocated to classes within a Fund in proportion to the average daily net assets of each Fund and class, except where allocation of certain expenses is more fairly made directly to the Fund or to specific classes within a Fund.

	f)	Fees Paid Indirectly — The Funds have entered into agreements with State Street Global Advisors, LLC and Frank Russell Securities, Inc. to partially recapture non-discounted trade commissions. Such rebates are used to pay a portion of the Funds’ expenses. In addition, the Funds’ custodian bank has also agreed to reduce its fees when the Funds maintain cash on deposit in the non-interest-bearing custody account. For the year ended December 31, 2008, these amounts are included in the Statements of Operations.


	For the						For the						For the						For the						For the
	Year Ended						Year Ended						Year Ended						Year Ended						Year Ended
	December 31, 2008						December 31, 2007						December 31, 2006						December 31, 2005						December 31, 2004
	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Advisers HLS Fund		0.63	%		0.88	%		0.63	%		0.88	%		0.62	%		0.87	%		0.64	%		0.89	%		0.66	%		0.91	%
Hartford Capital Appreciation HLS Fund		0.66			0.91			0.67			0.93			0.66			0.91			0.67			0.92			0.67			0.92
Hartford Dividend and Growth HLS Fund		0.66			0.91			0.67			0.92			0.66			0.91			0.66			0.91			0.67			0.92
Hartford International Opportunities HLS Fund		0.71			0.96			0.70			0.95			0.73			0.98			0.74			0.99			0.74			0.99
Hartford Money Market HLS Fund		0.42			0.67			0.42			0.67			0.48			0.73			0.49			0.74			0.48			0.73
Hartford Small Company HLS Fund		0.71			0.96			0.70			0.95			0.70			0.95			0.71			0.96			0.70			0.95
Hartford Stock HLS Fund		0.48			0.73			0.48			0.73			0.47			0.72			0.48			0.73			0.48			0.73
Hartford Total Return Bond HLS Fund		0.49			0.74			0.49			0.74			0.49			0.74			0.50			0.75			0.50			0.75


	g)	Distribution Plan for Class IB shares — All Funds with Class IB shares have adopted a Distribution Plan pursuant to Rule 12b-1 under the 1940 Act for the Class IB shares. Pursuant to the Distribution Plan, each Fund is authorized to compensate the Distributor, Hartford Securities Distribution Company, Inc. (a wholly owned, ultimate subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”)) from assets attributable to the Class IB shares for services rendered and expenses borne in connection with activities primarily intended to result in the sale of the Class IB shares, subject to the Fund Board’s review and approval.


	h)	Payment from Affiliate — The Funds are available for purchase by the separate accounts of different variable universal life policies, variable annuity products, and funding agreements and they are offered directly to certain qualified retirement plans (collectively “Products”). Although existing Products contain transfer restrictions, some Products, particularly older variable annuity products, do not contain restrictions on the frequency of transfers. In addition, as the result of the settlement of litigation against Hartford Life, Inc. (“Hartford Life”) (the issuer of such variable annuity products), the Funds’ ability to restrict transfers by certain owners of older variable annuity products was limited. During 2006, these annuity owners surrendered the older variable annuity contracts that were the subject of prior litigation. In February 2005, Hartford Life agreed with the Board of Directors of the Funds to indemnify the Funds for any material harm caused to the Funds from frequent trading by these contract owners.

On May 2, 2007, Hartford Small Company HLS Fund was reimbursed $2,514 in trading reimbursements relating to the change in portfolio managers of the Fund.

On June 8, 2007, Hartford Small Company HLS Fund was reimbursed $486 in regard to incorrect IPO allocations to the Fund.

Hartford Series Fund, Inc.

Notes to Financial Statements — (continued)
December 31, 2008
(000’s Omitted)

Impact from Payment

from Affiliate for

Total Return Excluding

Trading

Incorrect IPO

Payments from

Reimbursements for

Allocations for the

Affiliate for the

the Year Ended

Year Ended

December 31, 2007

Fund

Class IA

Class IB

Class IA

Class IB

Class IA

Class IB

Hartford Small Company HLS Fund

0.16

0.03

14.01

13.73


	Impact from Payment						Impact from Payment						Total Return Excluding
	from Affiliate for						from Affiliate for						Payments from
	SEC Settlement						Unrestricted Transfers						Affiliate
	for the Year Ended						for the Year Ended						for the Year Ended
	December 31, 2006						December 31, 2006						December 31, 2006
Fund	Class IA			Class IB			Class IA			Class IB			Class IA			Class IB

Hartford Advisers HLS Fund		0.09	%		0.09	%		—	%		—	%		10.61	%		10.34	%
Hartford Capital Appreciation HLS Fund		0.09			0.09			—			—			16.52			16.23
Hartford Dividend and Growth HLS Fund		0.06			0.06			0.01			0.01			20.29			19.99
Hartford International Opportunities HLS Fund		0.02			0.02			—			—			24.44			24.13
Hartford Small Company HLS Fund		0.14			0.14			—			—			14.29			14.00
Hartford Stock HLS Fund		0.11			0.12			0.01			0.01			14.53			14.24
Hartford Total Return Bond HLS Fund		—			—			—			—			4.80			4.54

Impact from Payment

from Affiliate for

Total Return Excluding

Unrestricted Transfers

Payments from Affiliate

for the Year Ended

December 31, 2005

Fund

Class IA

Class IB

Class IA

Class IB

Hartford Small Company HLS Fund

0.10

20.91

20.61


6.	Investment Transactions:


	Cost of Purchases		Sales Proceeds		Cost of
	Excluding		Excluding		Purchases for		Sales Proceeds for
	U.S. Government		U.S. Government		U.S. Government		U.S. Government
	Obligations		Obligations		Obligations		Obligations

Hartford Advisers HLS Fund	$	4,205,135	$	5,143,700	$	218,813	$	408,148
Hartford Capital Appreciation HLS Fund		15,010,315		15,571,808		—		—
Hartford Dividend and Growth HLS Fund		2,430,526		2,978,527		—		—
Hartford International Opportunities HLS Fund		2,850,766		3,080,046		—		—
Hartford Small Company HLS Fund		2,608,297		2,640,226		—		—
Hartford Stock HLS Fund		3,011,205		3,646,221		—		—
Hartford Total Return Bond HLS Fund		5,645,181		5,635,298		3,116,893		3,109,080


7.	Line of Credit:


8.	Participation in the U.S. Department of Treasury Guarantee Program for Money Market Funds:


9.	Money Market HLS Fund Support Agreement:

During the year ended December 31, 2008, the Fund did not receive a capital contribution under the terms of the CSA.


10.	Industry Classifications:

Hartford Series Fund, Inc.

Financial Highlights


	*— Selected Per-Share Data (#) —*																					*— Ratios and Supplemental Data —*
							*Net*
							*Realized*																		*Net*										*Ratio of*			*Ratio of*			*Ratio of*
							*and*									*Distributions*									*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*				*Unrealized*			*Total*			*Dividends*			*from*									*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*		*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*						*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*		*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*			*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*		*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*			*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford Advisers HLS Fund
For the Year Ended December 31, 2008
Class IA	$	20.97	$	0.50	$	—	$	(7.09	)	$	(6.59	)	$	(0.58	)	$	(0.11	)	$	—		$	(0.69	)	$	(7.28	)	$	13.69		(31.64	)%	$	3,404,626		0.63	%		0.63	%		2.43	%		76	%
Class IB		21.18		0.47		—		(7.17	)		(6.70	)		(0.52	)		(0.11	)		—			(0.63	)		(7.33	)		13.85		(31.81	)		548,899		0.88			0.88			2.18			—
For the Year Ended December 31, 2007
Class IA		22.60		0.55		—		0.90			1.45			(0.53	)		(2.55	)		—			(3.08	)		(1.63	)		20.97		6.64			6,291,220		0.63			0.63			2.13			47
Class IB		22.78		0.49		—		0.92			1.41			(0.46	)		(2.55	)		—			(3.01	)		(1.60	)		21.18		6.37			1,080,254		0.88			0.88			1.88			—
For the Year Ended December 31, 2006
Class IA		22.53		0.58		0.02		1.81			2.41			(0.57	)		(1.77	)		—			(2.34	)		0.07			22.60		10.70	(d)		7,207,926		0.64			0.64			2.24			87
Class IB		22.70		0.51		0.02		1.83			2.36			(0.51	)		(1.77	)		—			(2.28	)		0.08			22.78		10.43	(d)		1,252,293		0.89			0.89			1.99			—
For the Year Ended December 31, 2005
Class IA		23.04		0.54		—		1.12			1.66			(0.77	)		(1.04	)		(0.36	)		(2.17	)		(0.51	)		22.53		7.24			8,157,354		0.66			0.65			1.96			89
Class IB		23.17		0.47		—		1.15			1.62			(0.69	)		(1.04	)		(0.36	)		(2.09	)		(0.47	)		22.70		6.97			1,366,216		0.91			0.90			1.72			—
For the Year Ended December 31, 2004
Class IA		22.67		0.51		—		0.33			0.84			(0.47	)		—			—			(0.47	)		0.37			23.04		3.74			9,699,374		0.67			0.67			2.16			36
Class IB		22.81		0.48		—		0.30			0.78			(0.42	)		—			—			(0.42	)		0.36			23.17		3.48			1,462,319		0.92			0.92			1.91			—
Hartford Capital Appreciation HLS Fund
For the Year Ended December 31, 2008
Class IA		52.46		0.46		—		(22.58	)		(22.12	)		(0.72	)		(4.28	)		—			(5.00	)		(27.12	)		25.34		(45.59	)		6,017,984		0.67			0.67			1.12			131
Class IB		52.01		0.39		—		(22.37	)		(21.98	)		(0.61	)		(4.28	)		—			(4.89	)		(26.87	)		25.14		(45.73	)		1,295,065		0.92			0.92			0.87			—
For the Year Ended December 31, 2007
Class IA		53.49		0.35		—		8.36			8.71			(0.07	)		(9.67	)		—			(9.74	)		(1.03	)		52.46		16.83			12,123,834		0.67			0.67			0.68			101
Class IB		53.21		0.22		—		8.28			8.50			(0.03	)		(9.67	)		—			(9.70	)		(1.20	)		52.01		16.53			2,933,905		0.92			0.92			0.42			—
For the Year Ended December 31, 2006
Class IA		52.99		0.50		0.04		7.88			8.42			(0.76	)		(7.16	)		—			(7.92	)		0.50			53.49		16.61	(d)		11,746,831		0.67			0.67			0.82			73
Class IB		52.75		0.36		0.04		7.83			8.23			(0.61	)		(7.16	)		—			(7.77	)		0.46			53.21		16.32	(d)		2,810,587		0.92			0.92			0.57			—
For the Year Ended December 31, 2005
Class IA		53.43		0.45		—		7.57			8.02			(0.52	)		(7.94	)		—			(8.46	)		(0.44	)		52.99		15.55			11,317,561		0.70			0.70			0.78			97
Class IB		53.18		0.25		—		7.59			7.84			(0.33	)		(7.94	)		—			(8.27	)		(0.43	)		52.75		15.26			2,793,612		0.95			0.95			0.53			—
For the Year Ended December 31, 2004
Class IA		44.91		0.35		—		8.34			8.69			(0.17	)		—			—			(0.17	)		8.52			53.43		19.36			10,751,945		0.70			0.70			0.77			89
Class IB		44.76		0.27		—		8.26			8.53			(0.11	)		—			—			(0.11	)		8.42			53.18		19.07			2,505,798		0.95			0.95			0.52			—
Hartford Dividend and Growth HLS Fund
For the Year Ended December 31, 2008
Class IA		22.35		0.44		—		(7.57	)		(7.13	)		(0.44	)		(0.41	)		—			(0.85	)		(7.98	)		14.37		(32.43	)		3,628,793		0.67			0.67			2.20			41
Class IB		22.28		0.42		—		(7.56	)		(7.14	)		(0.39	)		(0.41	)		—			(0.80	)		(7.94	)		14.34		(32.60	)		776,959		0.92			0.92			1.95			—
For the Year Ended December 31, 2007
Class IA		22.79		0.42		—		1.44			1.86			(0.41	)		(1.89	)		—			(2.30	)		(0.44	)		22.35		8.26			5,842,788		0.67			0.67			1.70			27
Class IB		22.72		0.37		—		1.42			1.79			(0.34	)		(1.89	)		—			(2.23	)		(0.44	)		22.28		7.98			1,501,363		0.92			0.92			1.45			—
For the Year Ended December 31, 2006
Class IA		20.74		0.40		0.01		3.77			4.18			(0.41	)		(1.72	)		—			(2.13	)		2.05			22.79		20.36	(d)		5,671,552		0.67			0.67			1.77			27
Class IB		20.68		0.35		0.01		3.74			4.10			(0.34	)		(1.72	)		—			(2.06	)		2.04			22.72		20.06	(d)		1,603,952		0.92			0.92			1.52			—
For the Year Ended December 31, 2005
Class IA		20.83		0.36		—		0.87			1.23			(0.40	)		(0.92	)		—			(1.32	)		(0.09	)		20.74		5.96			4,978,773		0.67			0.67			1.70			26
Class IB		20.76		0.29		—		0.89			1.18			(0.34	)		(0.92	)		—			(1.26	)		(0.08	)		20.68		5.70			1,506,556		0.92			0.92			1.45			—
For the Year Ended December 31, 2004
Class IA		18.77		0.32		—		2.01			2.33			(0.27	)		—			—			(0.27	)		2.06			20.83		12.42			4,719,663		0.68			0.68			1.73			27
Class IB		18.72		0.27		—		2.00			2.27			(0.23	)		—			—			(0.23	)		2.04			20.76		12.14			1,393,412		0.93			0.93			1.48			—
Hartford International Opportunities HLS Fund
For the Year Ended December 31, 2008
Class IA		15.62		0.28		—		(6.68	)		(6.40	)		(0.28	)		(0.54	)		—			(0.82	)		(7.22	)		8.40		(42.25	)		1,046,234		0.71			0.71			2.21			158
Class IB		15.78		0.27		—		(6.76	)		(6.49	)		(0.24	)		(0.54	)		—			(0.78	)		(7.27	)		8.51		(42.39	)		189,221		0.96			0.96			1.96			—
For the Year Ended December 31, 2007
Class IA		15.23		0.18		—		3.77			3.95			(0.19	)		(3.37	)		—			(3.56	)		0.39			15.62		27.43			2,027,078		0.71			0.71			1.13			135
Class IB		15.36		0.16		—		3.78			3.94			(0.15	)		(3.37	)		—			(3.52	)		0.42			15.78		27.11			417,144		0.96			0.96			0.89			—
For the Year Ended December 31, 2006
Class IA		13.59		0.22		—		3.05			3.27			(0.40	)		(1.23	)		—			(1.63	)		1.64			15.23		24.46	(d)		1,596,055		0.75			0.75			1.47			119
Class IB		13.52		0.18		—		3.07			3.25			(0.18	)		(1.23	)		—			(1.41	)		1.84			15.36		24.15	(d)		382,371		1.00			1.00			1.24			—
For the Year Ended December 31, 2005
Class IA		11.86		0.14		—		1.59			1.73			—			—			—			—			1.73			13.59		14.62			1,251,426		0.78			0.78			1.22			120
Class IB		11.83		0.13		—		1.56			1.69			—			—			—			—			1.69			13.52		14.33			319,626		1.03			1.03			0.97			—


	*— Selected Per-Share Data (#) —*																					*— Ratios and Supplemental Data —*
								*Net*
								*Realized*																	*Net*										*Ratio of*			*Ratio of*			*Ratio of*
								*and*									*Distributions*								*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*					*Unrealized*			*Total*			*Dividends*			*from*								*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*			*Payments*		*Gain*			*from*			*from Net*			*Realized*			*Distributions*					*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*			*from (to)*		*(Loss) on*			*Investment*			*Investment*			*Capital*			*from*		*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*			*Affiliate*		*Investments*			*Operations*			*Income*			*Gains*			*Capital*		*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford International Opportunities HLS Fund — (continued)
For the Year Ended December 31, 2004
Class IA	$	10.11	$	0.10		$	—	$	1.73		$	1.83		$	(0.08	)	$	—		$	—	$	(0.08	)	$	1.75		$	11.86		18.08	%	$	1,054,884		0.80	%		0.80	%		1.13	%		142	%
Class IB		10.09		0.08			—		1.72			1.80			(0.06	)		—			—		(0.06	)		1.74			11.83		17.79			247,752		1.05			1.05			0.88			—
Hartford Money Market HLS Fund
For the Year Ended December 31, 2008
Class IA		1.00		0.02			—		—			0.02			(0.02	)		—			—		(0.02	)		—			1.00		2.15			4,427,230		0.47			0.42			2.01			N/A
Class IB		1.00		0.02			—		—			0.02			(0.02	)		—			—		(0.02	)		—			1.00		1.89			774,432		0.72			0.67			1.80			—
For the Year Ended December 31, 2007
Class IA		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.95			2,224,124		0.47			0.42			4.83			N/A
Class IB		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.69			452,976		0.72			0.67			4.58			—
For the Year Ended December 31, 2006
Class IA		1.00		0.05			—		—			0.05			(0.05	)		—			—		(0.05	)		—			1.00		4.69			1,558,433		0.48			0.48			4.63			N/A
Class IB		1.00		0.04			—		—			0.04			(0.04	)		—			—		(0.04	)		—			1.00		4.43			319,926		0.73			0.73			4.38			—
For the Year Ended December 31, 2005
Class IA		1.00		0.03			—		—			0.03			(0.03	)		—			—		(0.03	)		—			1.00		2.84			1,353,836		0.49			0.49			2.79			N/A
Class IB		1.00		0.03			—		—			0.03			(0.03	)		—			—		(0.03	)		—			1.00		2.58			264,040		0.75			0.75			2.54			—
For the Year Ended December 31, 2004
Class IA		1.00		—			—		—			—			—			—			—		—			—			1.00		0.94			1,294,525		0.48			0.48			0.93			N/A
Class IB		1.00		—			—		—			—			—			—			—		—			—			1.00		0.69			252,808		0.73			0.73			0.68			—
Hartford Small Company HLS Fund
For the Year Ended December 31, 2008
Class IA		18.62		0.02			—		(7.56	)		(7.54	)		(0.02	)		(0.05	)		—		(0.07	)		(7.61	)		11.01		(40.60	)		793,078		0.71			0.71			0.16			194
Class IB		18.20		(0.01	)		—		(7.38	)		(7.39	)		—			(0.05	)		—		(0.05	)		(7.44	)		10.76		(40.73	)		179,411		0.96			0.96			(0.09	)		—
For the Year Ended December 31, 2007 (f)
Class IA		19.07		—			0.04		2.57			2.61			(0.05	)		(3.01	)		—		(3.06	)		(0.45	)		18.62		14.23	(d)		1,292,444		0.70			0.70			(0.02	)		167	(e)
Class IB		18.71		(0.05	)		0.04		2.51			2.50			—			(3.01	)		—		(3.01	)		(0.51	)		18.20		13.94	(d)		312,775		0.95			0.95			(0.27	)		—
For the Year Ended December 31, 2006
Class IA		19.66		0.05			0.02		2.75			2.82			(0.04	)		(3.37	)		—		(3.41	)		(0.59	)		19.07		14.43	(d)		1,138,830		0.73			0.73			0.21			177
Class IB		19.38		—			0.02		2.70			2.72			(0.02	)		(3.37	)		—		(3.39	)		(0.67	)		18.71		14.14	(d)		304,757		0.98			0.98			(0.03	)		—
For the Year Ended December 31, 2005
Class IA		16.25		(0.04	)		0.02		3.43			3.41			—			—			—		—			3.41			19.66		21.01	(d)		1,017,271		0.75			0.75			(0.08	)		106
Class IB		16.06		(0.05	)		0.02		3.35			3.32			—			—			—		—			3.32			19.38		20.71	(d)		220,310		1.00			1.00			(0.34	)		—
For the Year Ended December 31, 2004
Class IA		14.49		(0.07	)		—		1.83			1.76			—			—			—		—			1.76			16.25		12.18			904,912		0.75			0.75			(0.41	)		141
Class IB		14.35		(0.09	)		—		1.80			1.71			—			—			—		—			1.71			16.06		11.90			230,452		1.00			1.00			(0.66	)		—
Hartford Stock HLS Fund
For the Year Ended December 31, 2008
Class IA		47.11		0.59			—		(20.79	)		(20.20	)		(0.81	)		(0.24	)		—		(1.05	)		(21.25	)		25.86		(43.13	)		1,810,864		0.49			0.49			1.38			89
Class IB		47.00		0.50			—		(20.72	)		(20.22	)		(0.70	)		(0.24	)		—		(0.94	)		(21.16	)		25.84		(43.27	)		287,794		0.74			0.74			1.13			—
For the Year Ended December 31, 2007
Class IA		52.57		0.60			—		2.43			3.03			(0.57	)		(7.92	)		—		(8.49	)		(5.46	)		47.11		5.90			3,909,045		0.49			0.49			1.01			96
Class IB		52.45		0.45			—		2.44			2.89			(0.42	)		(7.92	)		—		(8.34	)		(5.45	)		47.00		5.64			652,838		0.74			0.74			0.76			—
For the Year Ended December 31, 2006
Class IA		49.21		0.72			0.06		6.41			7.19			(0.71	)		(3.12	)		—		(3.83	)		3.36			52.57		14.65	(d)		4,498,001		0.49			0.49			1.27			97
Class IB		49.10		0.56			0.06		6.42			7.04			(0.57	)		(3.12	)		—		(3.69	)		3.35			52.45		14.37	(d)		758,802		0.74			0.74			1.02			—
For the Year Ended December 31, 2005
Class IA		45.72		0.66			—		3.72			4.38			(0.89	)		—			—		(0.89	)		3.49			49.21		9.62			4,787,612		0.50			0.50			1.21			91
Class IB		45.59		0.51			—		3.74			4.25			(0.74	)		—			—		(0.74	)		3.51			49.10		9.35			770,163		0.75			0.75			0.96			—
For the Year Ended December 31, 2004
Class IA		44.37		0.74			—		1.10			1.84			(0.49	)		—			—		(0.49	)		1.35			45.72		4.17			5,657,942		0.49			0.49			1.61			30
Class IB		44.29		0.64			—		1.08			1.72			(0.42	)		—			—		(0.42	)		1.30			45.59		3.91			718,293		0.74			0.74			1.36			—
Hartford Total Return Bond HLS Fund
For the Year Ended December 31, 2008
Class IA		11.15		0.62			—		(1.49	)		(0.87	)		(0.74	)		—			—		(0.74	)		(1.61	)		9.54		(7.62	)		3,167,919		0.49			0.49			5.54			173
Class IB		11.09		0.67			—		(1.55	)		(0.88	)		(0.71	)		—			—		(0.71	)		(1.59	)		9.50		(7.85	)		740,580		0.74			0.74			5.27			—
For the Year Ended December 31, 2007 (f)
Class IA		11.24		0.60			—		(0.08	)		0.52			(0.61	)		—			—		(0.61	)		(0.09	)		11.15		4.67			3,458,709		0.49			0.49			5.27			223
Class IB		11.19		0.57			—		(0.09	)		0.48			(0.58	)		—			—		(0.58	)		(0.10	)		11.09		4.41			1,036,331		0.74			0.74			5.01			—

Hartford Series Fund, Inc.

Financial Highlights — (continued)


	*— Selected Per-Share Data (#) —*																			*— Ratios and Supplemental Data —*
							*Net*
							*Realized*																*Net*										*Ratio of*			*Ratio of*			*Ratio of*
							*and*								*Distributions*								*Increase*										*Expenses*			*Expenses*			*Net*
	*Net Asset*		*Net*				*Unrealized*			*Total*		*Dividends*			*from*								*(Decrease)*			*Net Asset*							*to Average*			*to Average*			*Investment*
	*Value at*		*Investment*		*Payments*		*Gain*			*from*		*from Net*			*Realized*			*Distributions*					*in Net*			*Value at*					*Net Assets*		*Net Assets*			*Net Assets*			*Income to*			*Portfolio*
	*Beginning*		*Income*		*from (to)*		*(Loss) on*			*Investment*		*Investment*			*Capital*			*from*		*Total*			*Asset*			*End of*		*Total*			*at End*		*Before*			*After*			*Average*			*Turnover*
	*of Period*		*(Loss)*		*Affiliate*		*Investments*			*Operations*		*Income*			*Gains*			*Capital*		*Distributions*			*Value*			*Period*		*Return (a)*			*of Period*		*Waivers (b)*			*Waivers (b)*			*Net Assets*			*Rate (c)*
Hartford Total Return Bond HLS Fund — (continued)
For the Year Ended December 31, 2006 (f)
Class IA	$	11.27	$	0.55	$	—	$	(0.01	)	$	0.54	$	(0.57	)	$	—		$	—	$	(0.57	)	$	(0.03	)	$	11.24		4.80	%(d)	$	3,041,321		0.50	%		0.50	%		4.82	%		344	%
Class IB		11.20		0.51		—		—			0.51		(0.52	)		—			—		(0.52	)		(0.01	)		11.19		4.54	(d)		1,040,408		0.75			0.75			4.56			—
For the Year Ended December 31, 2005
Class IA		11.94		0.44		—		(0.14	)		0.30		(0.88	)		(0.09	)		—		(0.97	)		(0.67	)		11.27		2.45			2,745,115		0.50			0.50			4.09			190
Class IB		11.86		0.43		—		(0.17	)		0.26		(0.83	)		(0.09	)		—		(0.92	)		(0.66	)		11.20		2.19			1,068,600		0.75			0.75			3.84			—
For the Year Ended December 31, 2004
Class IA		12.32		0.40		—		0.12			0.52		(0.58	)		(0.32	)		—		(0.90	)		(0.38	)		11.94		4.62			2,507,021		0.50			0.50			3.72			164
Class IB		12.25		0.45		—		0.04			0.49		(0.56	)		(0.32	)		—		(0.88	)		(0.39	)		11.86		4.36			991,065		0.75			0.75			3.47			—


(a)		The figures do not include sales charges or other fees which may be applied at the variable life insurance, variable annuity or qualified retirement plan product level. Any such additional sales charges or other fees would lower the Fund’s performance.
(b)		Ratios do not reflect reductions for fees paid indirectly. Please see Note 5(f).
(c)		Portfolio turnover rate is calculated on the basis of the Fund as a whole without distinguishing between the classes of shares issued.
(d)		Total return without the inclusion of the Payment from (to) Affiliate, as noted on the Statement of Operations, can be found in Note 5(h).
(e)		During the year ended December 31, 2007, Hartford Small Company HLS Fund received a $12.6 million in-kind subscription of securities from a shareholder in exchange for shares of this Fund. This payment-in-kind was excluded from the portfolio turnover rate calculation.
(f)		Per share amounts have been calculated using the average shares method.
#		Information presented relates to a share outstanding throughout the indicated period.

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders of
Hartford Series Fund, Inc.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of each of the Funds listed above constituting portfolios within Hartford Series Fund, Inc. at December 31, 2008, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Minneapolis, Minnesota

February 24, 2009

Hartford Series Fund, Inc.

Directors and Officers (Unaudited)

Non-Interested Directors

Lynn S. Birdsong (age 62) Director since 2003, Co-Chairman of the Investment Committee

Robert M. Gavin, Jr. (age 68) Director since 2002 (SF) and 1986 (SF2), Chairman of the Board since 2004

Duane E. Hill (age 63) Director since 2001 (SF) and 2002 (SF2), Chairman of the Nominating Committee

Sandra S. Jaffee (age 67) Director since 2005

William P. Johnston (age 64) Director since 2005, Chairman of the Compliance Committee

Phillip O. Peterson (age 64) Director since 2002 (SF) and 2000 (SF2), Chairman of the Audit Committee

Lemma W. Senbet (age 62) Director since 2005

Interested Directors and Officers

Thomas M. Marra (age 50) Director since 2002

Lowndes A. Smith (age 69) Director since 1996 (SF) and 2002 (SF2), Co-Chairman of the Investment Committee

John C. Walters (age 47) Director since 2008, President and Chief Executive Officer since 2007

Mr. Walters currently serves as Chief Executive Officer, President and Director of HL, Inc.. Mr. Walters previously served as President of the U.S. Wealth Management Division of HL, Inc. (2006-2007), as Co-Chief Operating Officer of Hartford Life Insurance Company, (“Hartford Life”) (2007-2008) and as Executive Vice President and Director of its Investment Products Division (2000-2005). Mr. Walters also serves as Chairman of the Board, Chief Executive Officer, President and Director of Hartford Life and as Executive Vice President of The Hartford. In addition, Mr. Walters serves as a Manager of HL Investment Advisors, LLC (“HL Advisors”).

Other Officers

Robert M. Arena, Jr. (age 40) Vice President since 2006

Mr. Arena serves as Executive Vice President of Hartford Life. Additionally, Mr. Arena is Director and Senior Vice President of Hartford Administrative Services Company (“HASCO”), Chief Executive Officer, Manager and President of Hartford Investment Financial Services, LLC. (“HIFSCO”) and Chief Executive Officer, Manager and President of HL Advisors. Prior to joining The Hartford in 2004, he was Senior Vice President in charge of Product Management for American Skandia/Prudential in the individual annuities division. Mr. Arena joined American Skandia in 1996.

Tamara L. Fagely (age 50) Vice President, Treasurer, and Controller since 1993

Brian Ferrell (age 46) AML Compliance Officer since 2008

Thomas D. Jones, III (age 43) Vice President and Chief Compliance Officer since 2006

Edward P. Macdonald (age 41) Vice President, Secretary and Chief Legal Officer since 2005

Vernon J. Meyer (age 44) Vice President since 2006

Denise A. Settimi (age 48) Vice President since 2005

Hartford Series Fund, Inc.

Expense Example (Unaudited)

Your Fund’s Expenses

The example is based on an investment of $1,000 invested at the beginning of the period and held for the period of June 30, 2008 through December 31, 2008.

Actual Expenses

The first line of the table below provides information about actual account values and actual expenses. You may use the information in this line, 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 first line under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

Expenses are equal to the Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/366 (to reflect the one-half year period).


					Expenses paid						Expenses paid
	Beginning		Ending		during the period		Beginning		Ending		during the period					Days
	Account		Account		June 30, 2008		Account		Account		June 30, 2008		Annualized			in the		Days
	Value		Value		through		Value		Value		through		expense			current		in the
	June 30, 2008		December 31, 2008		December 31, 2008		June 30, 2008		December 31, 2008		December 31, 2008		ratio			1/2 year		full year
Hartford Advisers HLS Fund
Class IA	$	1,000.00	$	755.45	$	2.77	$	1,000.00	$	1,021.96	$	3.20		0.63	%		184		366
Class IB	$	1,000.00	$	754.50	$	3.88	$	1,000.00	$	1,020.71	$	4.46		0.88	%		184		366
Hartford Capital Appreciation HLS Fund
Class IA	$	1,000.00	$	597.33	$	2.64	$	1,000.00	$	1,020.79	$	3.35		0.66	%		184		366
Class IB	$	1,000.00	$	597.18	$	3.65	$	1,000.00	$	1,020.56	$	4.62		0.91	%		184		366
Hartford Dividend and Growth HLS Fund
Class IA	$	1,000.00	$	742.47	$	2.89	$	1,000.00	$	1,021.81	$	3.35		0.66	%		184		366
Class IB	$	1,000.00	$	741.53	$	3.98	$	1,000.00	$	,1020.56	$	4.62		0.91	%		184		366
Hartford International Opportunities HLS Fund
Class IA	$	1,000.00	$	650.94	$	2.98	$	1,000.00	$	1,021.51	$	3.65		0.72	%		184		366
Class IB	$	1,000.00	$	650.12	$	4.02	$	1,000.00	$	1,020.26	$	4.92		0.97	%		184		366
Hartford Money Market HLS Fund
Class IA	$	1,000.00	$	1,007.46	$	2.16	$	1,000.00	$	1,022.97	$	2.18		0.43	%		184		366
Class IB	$	1,000.00	$	1,006.20	$	3.42	$	1,000.00	$	1,021.71	$	3.45		0.68	%		184		366
Hartford Small Company HLS Fund
Class IA	$	1,000.00	$	661.87	$	3.00	$	1,000.00	$	1,021.51	$	3.65		0.72	%		184		366
Class IB	$	1,000.00	$	661.70	$	4.05	$	1,000.00	$	1,021.28	$	4.93		0.97	%		184		366
Hartford Stock HLS Fund
Class IA	$	1,000.00	$	662.77	$	2.00	$	1,000.00	$	1,021.70	$	2.43		0.48	%		184		366
Class IB	$	1,000.00	$	662.59	$	3.05	$	1,000.00	$	1,021.46	$	3.70		0.73	%		184		366
Hartford Total Return Bond HLS Fund
Class IA	$	1,000.00	$	926.44	$	2.37	$	1,000.00	$	1,022.67	$	2.49		0.49	%		184		366
Class IB	$	1,000.00	$	925.29	$	3.58	$	1,000.00	$	1,021.41	$	3.76		0.74	%		184		366

Hartford Series Fund, Inc.

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)

At a meeting held on August 5-6, 2008, the Board of Directors (the “Board”) of the Funds, including each of the Independent Directors, unanimously voted to approve the investment management agreement for each Fund with an agreement up for renewal with HL Investment Advisors, LLC (“HL Advisors”), and the investment sub-advisory agreements between HL Advisors and each Fund’s respective sub-adviser(s) (“Sub-advisers,” and together with HL Advisors, “Advisers”) — Hartford Investment Management Company (“Hartford Investment Management”) and Wellington Management Company, LLP (collectively, the “Agreements”). In the months preceding this meeting, the Board requested, received, and reviewed written responses from the Advisers to questions posed to them on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board received in-person presentations about each Fund and the related Agreements by Fund officers and representatives of HL Advisors at the Board’s meetings on June 24-25, 2008 and August 5-6, 2008. In considering the approval of the Agreements, the Board also took into account information provided to the Board at its meetings throughout the year, including reports on Fund performance, compliance, shareholder services, and the other services provided to the Funds by the Advisers, and their affiliates.

Nature, Extent And Quality Of Services

With respect to HL Advisors, the Board noted that under the Agreements, HL Advisors is responsible for the management of each Fund, including overseeing fund operations and service providers, and Hartford Life provides administrative services to the Funds as well as the investment advisory services in connection with selecting, monitoring and supervising sub-advisers. The Board considered its experiences with HL Advisors and Hartford Life, with respect to each of these services. The Board considered that HL Advisors or its affiliates are responsible for providing the Funds’ officers and paying their salaries and expenses. In addition, the Board considered the nature and quality of the services provided to the Funds and their shareholders by HL Advisors’ affiliates.

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to the Funds by HL Advisors and each of the Sub-advisers.

Performance of the Funds, HL Advisors, and the Sub-Advisers

(¹ The Funds have entered into investment management agreements with HL Advisors for investment advisory services, and a separate administrative agreement with Hartford Life Insurance Company (“Hartford Life”), under which Hartford Life provides certain administrative services to those Funds. The Board considered the fees payable under both agreements in the aggregate.

Costs of the Services and Profitability

Based on these considerations, the Board concluded that the profits anticipated to be realized by the Advisers and their affiliates from their relationships with the Funds would not be excessive.

Comparison of Fees and Expenses


	•	Permanent breakpoint reductions:

HL Advisors agreed to implement permanent breakpoints to the following Fund’s fee schedule to reduce management fees by 0.02% at $5 billion and an additional 0.01% at $10 billion:

Small Company HLS Fund


	•	Money Market HLS Fund: HL Advisors agreed to a permanent reduction in the fee rate on the first $2 billion of assets by 0.05%, which reduced the overall contractual management fees (on a weighted basis) by 0.028%. In addition, HL Advisors eliminated its 0.05% voluntary management fee waiver.

Economies of Scale

Hartford Series Fund, Inc.

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) — (continued)

Other Benefits

* * * *

Item 2. Code of Ethics.

Registrant has adopted a code of ethics that applies to Registrant’s principal executive officer, principal financial officer, and controller, which is attached as an exhibit.

Item 3. Audit Committee Financial Expert.

The Board of Directors of the Registrant has designated Phillip O. Peterson as an Audit Committee Financial Expert. Mr. Peterson is considered by the Board to be an independent director.

Item 4. Principal Accountant Fees and Services.

	(a)		Audit Fees: $474,000 for the fiscal year ended December 31, 2007; $630,800 for the fiscal year ended December 31, 2008.

	(b)		Audit Related Fees: $127,942 for the fiscal year ended December 31, 2007; $150,920 for the fiscal year ended December 31, 2008. Audit-related services principally in connection with SEC Rule 17Ad-13 report.

	(c)		Tax Fees: $104,867 for the fiscal year ended December 31, 2007; $155,799 for the fiscal year ended December 31, 2008.

	(d)		All Other Fees: $0 for the fiscal year ended December 31, 2007; $0 for the fiscal year ended December 31, 2008.

	(e)		(1) A copy of the Audit Committee’s pre-approval policies and procedures is attached as an exhibit.

	(e)		(2) One hundred percent of the services described in items 4(b) through 4(d) were approved in accordance with the Audit Committee’s Pre-Approval Policy. As a result, none of such services was approved pursuant to paragraph (c) (7) (i) (c) of Rule 2-01 of Regulation S-X.

	(f)		None of the hours expended on the principal accountant’s engagement to audit the Registrant’s financial statements for the year ended December 31, 2008, were attributed to work performed by persons other than the principal accountant’s full-time employees.

	(g)		Non-Audit Fees: $1,008,794 for the fiscal year ended December 31, 2007; $915,498 for the fiscal year ended December 31, 2008.

	(h)		The registrant’s Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by

another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed Registrants.

Registrant has a separately designated standing Audit Committee comprised of the independent directors listed below:

Robert M. Gavin
Sandra S. Jaffee
William P. Johnston
Phillip O. Peterson

Item 6. Schedule of Investments

The Schedule of Investments is included as part of the annual report filed under Item 1 of this form.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board of directors since registrant last provided disclosure in response to this requirement.

Item 11. Controls and Procedures.

(a)

Based on an evaluation of the Registrant’s Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report, the Disclosure Controls and Procedures are effectively designed to ensure that information required to be disclosed by the Registrant is recorded, processed, summarized and reported by the date of this report, including ensuring that information required to be disclosed in the report is


	Item 1. Reports to Stockholders
	Item 2. Code of Ethics
	Item 3. Audit Committee Financial Expert
	Item 4. Principal Accountant Fees and Services
	Item 5. Audit Committee of Listed Registrants
	Item 6. Schedule of Investments
	Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
	Item 8. Portfolio Managers of Closed-End Management Investment Companies
	Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
	Item 10. Submission of Matters to a Vote of Security Holders
	Item 11. Controls and Procedures
	Item 12. Exhibits
SIGNATURES
EXHIBIT LIST
EX-99.CODE ETH Code of Ethics
EX-99.12(A)(2) Audit Committee Pre-Approval
EX-99.CERT Section 302 Certifications
EX-99.906CERT Section 906 Certifications


Hartford Series Fund, Inc. Hartford HLS Series Fund II, Inc. Annual Report December 31, 2008


		12(a)(1)		Code of Ethics

		12(a)(2)		Audit Committee Pre-Approval Policies and Procedures

		12(a)(3)		Section 302 certifications of the principal executive officer and principal financial officer of Registrant.

		(b)		Section 906 certification.


	HARTFORD SERIES FUND, INC.
Date: February 17, 2009	By:	/s/ John C. Walters
		John C. Walters
		Its: President



Date: February 17, 2009	By:	/s/ Tamara L. Fagely
		Tamara L. Fagely
		Its: Vice President, Controller and Treasurer