HARTFORD SERIES FUND INC

HARTFORD SERIES FUND, INC.

Date: February 27, 2017

/s/ James E. Davey

James E. Davey, President and

Chief Executive Officer

N-CSR 1 d321870dncsr.htm HARTFORD SERIES FUND INC HARTFORD SERIES FUND INC

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)

5 Radnor Corporate Center, Suite 300, 100 Matsonford Road, Radnor, Pennsylvania 19087

(Address of Principal Executive Offices) (Zip Code)

Alice A. Pellegrino

Hartford Funds Management Company, LLC

5 Radnor Corporate Center, Suite 300

100 Matsonford Road

Radnor, Pennsylvania 19087

(Name and Address of Agent for Service)

Registrant’s telephone number, including area code: (610) 386-1844

Date of fiscal year end: December 31

Date of reporting period: December 31, 2016

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, 100 F. Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Reports to Stockholders.

LOGO

A MESSAGE FROM THE PRESIDENT

Dear Fellow Shareholders:

Thank you for investing in Hartford HLS Funds.

Market Review

During the year ended December 31, 2016, the period of this report, stocks, as measured by the S&P 500 Index,¹ endured a correction then recovered and,

despite periodic gyrations, managed to remain generally in positive territory for the remainder of the period. Even with the bouts of uncertainty the market experienced, the current bull market continued into its seventh year, making it the second-longest bull market on record for the S&P 500 Index. From January 1, 2016 through December 31, 2016, the S&P 500 Index generated an 11.96% total return.

The market reacted to a handful of concerns during the course of the year, including worries about low oil prices, weakness in the Chinese economy, a surprise vote for the U.K. to leave the European Union (dubbed Brexit), the beginning of a rate increase cycle by the U.S. Federal Reserve (Fed), and a contentious U.S. presidential election cycle with an unexpected outcome.

There were also more positive influences, including generally positive jobs reports over the course of the period, which helped the unemployment rate fall to pre-recession levels. In addition, growth of the domestic economy, while slow, has remained steady. This has helped limit the Fed’s actions; it has kept rate increases very gradual, which helps markets better digest and account for such changes.

Going forward, President Trump’s potential policy changes are likely to play a key role in market movements for the new year and beyond. While it is difficult to assess the full potential impact of changing political policies, markets seem to consider his positions pro-growth, which could bode well for investors. However, change to the status quo can often result in volatility in the markets.

As we enter 2017, we encourage you to maintain a strong relationship with a financial advisor who can help guide you through shifting markets with confidence. If there’s one certain thing about markets, it’s that movements can be hard to anticipate, especially in the short term. So it’s important to proactively build a portfolio that takes that unknown into account along with your unique investment goals and risk tolerances. Your financial advisor can help you find a fit within our family of mutual funds as you work toward those goals.

Thank you again for investing with Hartford HLS Funds.

LOGO

James Davey

President

Hartford HLS Funds

¹	S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held common stocks.

Hartford HLS Funds

Table of Contents


Fund Performance and Manager Discussions (Unaudited)			2
Expense Examples (Unaudited)			62
Financial Statements:
Schedules of Investments:
Hartford Balanced HLS Fund			68
Hartford Capital Appreciation HLS Fund			80
Hartford Disciplined Equity HLS Fund			87
Hartford Dividend and Growth HLS Fund			91
Hartford Global Growth HLS Fund			95
Hartford Growth Opportunities HLS Fund			99
Hartford Healthcare HLS Fund			104
Hartford High Yield HLS Fund			108
Hartford International Opportunities HLS Fund			116
Hartford MidCap HLS Fund			120
Hartford MidCap Value HLS Fund			124
Hartford Small Cap Growth HLS Fund			128
Hartford Small Company HLS Fund			134
Hartford Small/Mid Cap Equity HLS Fund			139
Hartford Stock HLS Fund			145
Hartford Total Return Bond HLS Fund			148
Hartford Ultrashort Bond HLS Fund			174
Hartford U.S. Government Securities HLS Fund			181
Hartford Value HLS Fund			188
Statements of Assets and Liabilities			192
Statements of Operations			196
Statements of Changes in Net Assets			200
Financial Highlights			208
Notes to Financial Statements			218
Report of Independent Registered Public Accounting Firm			257
Shareholder Meeting Results (Unaudited)			258
Directors and Officers (Unaudited)			263
How to Obtain a Copy of each Fund’s Proxy Voting Policies and Voting Records (Unaudited)			270
Quarterly Portfolio Holdings Information (Unaudited)			270
Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)			271

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 that Fund’s sub-adviser and portfolio management team through the end of the period and are subject to change based on market and other conditions. Each Fund’s Manager Discussion is for informational purposes only and does not represent an offer, recommendation or solicitation to buy, hold or sell any security. The specific securities identified and described, if any, do not represent all of the securities purchased or sold and you should not assume that investments in the securities identified and discussed will be profitable.

Hartford Balanced HLS Fund inception 03/31/1983


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term total return.

LOGO

The chart above represents the hypothetical growth of a $10,000 investment in Class IA. Growth results in classes other than Class IA will vary from what is seen above due to differences in the expenses charged to those share classes.

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
Balanced IA		6.04%		9.63%		5.56%
Balanced IB		5.79%		9.35%		5.30%
S&P 500 Index		11.96%		14.66%		6.95%
Bloomberg Barclays Government/Credit Bond Index		3.05%		2.29%		4.40%
Bank of America Merrill Lynch 3-Month U.S. Treasury Bill Index		0.33%		0.12%		0.80%
Balanced HLS Fund Blended Index		8.33%		9.60%		6.05%

PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND DOES NOT GUARANTEE FUTURE RESULTS. The investment return and principal value of the investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end, please visit our website www.hartfordfunds.com.

Total returns presented above were calculated using the Fund’s net asset value available to shareholders for sale or redemption of Fund shares on December 31, 2016, which may exclude investment transactions as of this date. All share class returns assume the reinvestment of all distributions at net asset value and the deduction of all fund expenses.

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

Bloomberg Barclays 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 mortgaged-backed securities) and of all publicly-issued fixed-rate, nonconvertible, investment grade domestic corporate debt.

Bank of America Merrill Lynch 3-Month U.S. Treasury Bill Index is an unmanaged index that tracks the performance of U.S. dollar denominated U.S. Treasury bills publicly issued in the U.S. domestic markets with maturities of 90 days or less that assumes reinvestment of all income.

Balanced HLS Fund Blended Index is calculated by Hartford Funds Management Company, LLC (“HFMC”) and represents the weighted return of 60% S&P 500 Index, 35% Bloomberg Barclays Government/Credit Bond Index and 5% Bank of America Merrill Lynch 3-Month U.S. Treasury Bill Index.

On August 24, 2016, Bloomberg L.P. acquired Barclays Risk Analytics and Index Solutions Ltd. from Barclays PLC. As a result of this acquisition, the Barclays indices have been rebranded as Bloomberg Barclays indices.

The indices are unmanaged, and their results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or

taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.65% and 0.90%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.

All investments are subject to risk including the possible loss of principal. For a discussion of the Fund’s risks, please see “A Word about Risk” section in the “Manager Discussion” section of this report. For more detailed information on the risks associated with an investment in the Fund, please see the prospectus.

The chart and table do not reflect the deductions of taxes, 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 or expenses would lower the contract’s or plan’s performance.


		2

Hartford Balanced HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Karen H. Grimes, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Michael E. Stack, CFA

Senior Managing Director and Fixed Income Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Balanced HLS Fund returned 6.04% for the twelve-month period ended December 31, 2016, underperforming the Fund’s blended benchmark, 60% S&P 500 Index, 35% Bloomberg Barclays Government/Credit Index, and 5% Bank of America Merrill Lynch 3-Month U.S. Treasury Bill Index, which returned 8.33% for the same period. The S&P 500, Bloomberg Barclays Government/Credit Bond, and Bank of America Merrill Lynch 3-Month U.S. Treasury Bill Indices returned 11.96%, 3.05% and 0.33%, respectively. The Fund also underperformed the 7.17% average return of the Lipper Mixed-Asset Target Allocation Growth 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?

U.S. equities rose over the period, as measured by the S&P 500 Index, notwithstanding significant volatility during the year. Early in the first quarter of 2016, equities plunged and moved in virtual lockstep with the price of oil as fears of a recession and weakness in China weighed on investors’ minds. However, equity markets surged in late February and March as solid economic data, a stabilization in oil prices, and accommodative commentary from the Federal Reserve (Fed) helped to calm the market’s early year jitters. A better-than-feared U.S. corporate earnings season in the second quarter and an encouraging economic backdrop helped sustain the rally. At its June meeting, the Fed left rates unchanged and reduced its U.S. growth and long-run policy rate forecasts, citing mixed U.S. economic data and uncertainty about global economic and financial developments. After plunging in the two trading days following the approval of the U.K.’s exit from the E.U. (Brexit), U.S. equities staged an impressive comeback in the days following.

uncertainty surrounding the U.S. presidential election, tepid economic data, and valuation concerns. Stocks surged following Donald Trump’s victory in the U.S. Presidential election on hopes of increased fiscal stimulus, reduced regulatory restrictions, and lower corporate taxes. Economic data released during the fourth quarter was generally encouraging, as third quarter gross domestic product (GDP) growth was revised slightly higher and the U.S. housing market continued to display healthy trends. In December, the Fed raised rates by 0.25%, a move that was anticipated by most of the market. It was only the second increase in the last decade. During the twelve-month period, nine of the eleven sectors¹ within the S&P 500 Index posted positive returns, led by Energy (+27%), Telecommunication Services (+23%), and Financials (+23%), while Real Estate (-6%) and Healthcare (-3%) fell.

Over the period, global fixed income markets were influenced by global economic growth concerns, central bank monetary policy expectations, and oil prices. Early in 2016, falling oil prices, concerns over slowing growth in China, and questions about the efficacy of central bank monetary policies sparked a broad sell-off in credit markets, while government bond prices benefited from their safe-haven status. Markets reversed course in mid-February as the major central banks adopted more cautious monetary policies in an effort to ease market risk. A rebound in crude oil prices, accommodative global central bank monetary policy and signs of near-term stabilization in China further supported global financial markets through the second quarter. The U.K.’s momentous vote in June to leave the E.U. led to a spike in global financial market volatility and a flight to safety, with U.K. and European equity and credit markets bearing the brunt of the sell-off. Policy paths of major central banks appeared to diverge in the third quarter as the Bank of England unveiled a stimulus package designed to prevent a recession following the Brexit vote while the European Central Bank (ECB) kept its stimulus program unchanged and avoided making a firm commitment to further expand its bond-buying program. In the U.S., Fed rhetoric turned more focused on interest rate increases, setting up for a December rate increase. Global government bond yields moved sharply higher in the fourth quarter, particularly following the U.S. presidential election results as President-elect Trump’s

Effective September 1, 2016, a new Real Estate sector was created under the Global Industry Classification Standard (GICS); holdings in this sector were previously classified as Financials. The attribution analysis of the Financials sector includes Real Estate for the period starting January 1, 2016 through August 31, 2016. The attribution analysis of the Real Estate sector is only for the period starting September 1, 2016 through December 31, 2016.


		3

Hartford Balanced HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

proposed expansionary fiscal policy lifted inflation expectations. In December, the Fed increased rates for only the second time in ten years. While markets had largely anticipated the decision, the Fed’s post-meeting statement and press conference leaned more toward an aggressive interest rate policy than expected.

Developed markets’ government bond prices largely gained outside the U.S. over the period, as global uncertainties kept central banks in easing mode for most of the year. In the U.S., the yield curve flattened; front-end yields, which were heavily influenced by Fed monetary policy expectations, rose more than intermediate- and long-term yields. The U.S. dollar ended higher against a broad basket of currencies over the period, particularly following the U.S. presidential election results and Fed rate increase decision. Emerging market currencies also weakened significantly against the dollar following Trump’s election victory over concerns about potential U.S. trade protectionism. Meanwhile, the U.K. pound depreciated in the aftermath of Brexit.

Absolute returns in the major fixed income credit risk sectors were positive during the twelve-month period, aided by the decline in government bond yields outside the U.S. In the U.S., interest income helped offset the impact of higher Treasury yields. On an excess return basis, most credit risk sectors posted positive returns over the period, including high yield, emerging markets debt, and investment grade corporates, as credit spreads tightened during the year. However, this masked considerable volatility in credit risk sector returns, including a drawdown in many credit risk sectors in the first part of 2016 and immediately following the Brexit referendum.

During the period, the equity portion of the Fund underperformed the S&P 500 Index while the fixed income portion of the Fund outperformed the Bloomberg Barclays U.S. Government/Credit Index. Asset allocation decisions slightly contributed positively to benchmark-relative performance during the period. The Fund was generally overweight equities and fixed income and underweight cash relative to the blended benchmark.

Equity underperformance versus the S&P 500 Index was driven primarily by security selection. In particular, weak security selection in Healthcare, Financials, and Consumer Staples detracted from relative performance, which was partially offset by stronger selection in Energy and Materials. Sector allocation, which is a residual of the Fund’s bottom-up security selection process, also detracted during the period primarily due to the Fund’s overweight to Healthcare and underweight to Telecommunication Services, which was slightly offset by positive performance from an underweight to Real Estate.

Stocks that detracted the most from relative returns in the equity portion of the Fund during the period were Vertex (Healthcare), Norwegian Cruise Line (Consumer Discretionary), and UCB SA (Healthcare). Vertex, a U.S.-based pharmaceutical company, saw its shares drop after the company received notice from the FDA that it

could not approve the company’s label expansion claim for Kalydeco, a cystic fibrosis drug, based on the current application. The company also reported a higher-than-expected discontinuation rate for Orkambi, another cystic fibrosis drug. Shares of Norwegian Cruise Lines, a U.S.-based international cruise operator, fell due to uncertainty regarding how Brexit will affect the travel and leisure industry, in addition to reporting weaker than expected quarterly earnings report that cited terror attacks in Paris, Brussels, and Istanbul as a drag on European cruise revenue. UCB SA, a Belgium-based biopharmaceutical company specializing in central nervous system and immunology therapies sold off during the year, particularly during the first half of 2016, partly due to a modest disappointment in their Romosozumab osteoporosis clinical trial. Allergan (Healthcare) detracted the most on an absolute basis.

Top contributors to relative performance in the equity portion of the Fund during the period were Halliburton (Energy), UnitedHealth Group (Healthcare), and Ingersoll-Rand (Industrials). Halliburton is a U.S. energy services provider. The stock price of the company rose over the year, benefiting from the recovery in oil prices. Furthermore, the market welcomed the abandonment of the merger with Baker Hughes, which was blocked by regulators over concerns for the competitive environment. Shares of UnitedHealth Group, a U.S.-based health care benefits and services provider, rose during the period as the company continued to execute well and exceed consensus revenue and earnings expectations. Ingersoll-Rand, an Irish-based provider of industrial machinery, climate control systems, and security products, saw its shares rise over the year after announcing strong quarterly earnings and revenues and raising its dividend payout by 25% in the fourth quarter. The Fund’s holdings in JPMorgan Chase (Financials) and Microsoft (Information Technology) also contributed positively on an absolute basis.

Outperformance of the fixed income portion of the Fund relative to the Bloomberg Barclays Government/Credit Bond Index during the period was driven by security selection in investment grade (IG) corporate credit, particularly within Industrials, and an overweight allocation to taxable municipals. An out-of-benchmark allocation to asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS) also modestly contributed positively to relative returns during the period. The Fund’s allocation to high yield detracted from relative returns during this period. The Fund’s duration and yield curve positioning also detracted from results relative to the Bloomberg Barclays Government/Credit Bond Index. Though rates rose in the fourth quarter, rates had been falling for most of the year. During this time, the fixed income portion of the Fund was shorter duration than its benchmark.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.


		4

Hartford Balanced HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

What is the outlook?

We expect the U.S. economy to maintain steady growth in 2017, supported by continued growth in consumer spending and an increase in investment levels, but the range of outcomes is wider than normal given policy uncertainty with respect to the new, incoming administration. Additionally, elevated fiscal/trade policy uncertainty in the U.S. and the rise of nationalist, populist movements in Western democracies pose longer-term risks. Inventories, which have been a headwind to growth over the last 5 quarters, appear to be in better balance heading into 2017, and should no longer be a meaningful drag on the economy. We believe decreased regulation, lower tax rates, and the potential for increased infrastructure spending should also support the economy in the coming year. On the negative side, the strong U.S. dollar and uncertainty surrounding foreign policy and global trade may weigh on growth. We expect the Fed to continue its gradual tightening trajectory, but with an awareness to both the potential inflationary impact of fiscal stimulus when the U.S. is at full employment and the risks to global growth from protectionist policies.

Financials and Consumer Discretionary represented the Fund’s largest sector overweight and underweight, respectively, in the equity portion of the Fund at the end of the period. On the fixed income side the Fund ended the period with a moderately pro-cyclical risk posture, continuing to favor financial issuers within IG credit. The Fund continued to hold out-of-benchmark allocations to high yield, agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS), and asset-backed securities (ABS).

At the end of the period, the Fund’s equity exposure was at 63% compared to 60% in its benchmark.

A Word about Risk

All investments are subject to risk, including the possible loss of principal. There is no guarantee the Fund will achieve its stated objective. The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. If the Fund’s strategy for allocating assets among different asset classes and/or portfolio management teams does not work as intended, the Fund may not achieve its objective or may underperform other funds with similar investment strategies. Foreign investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as political and economic developments in foreign countries and regions. Fixed income risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall; these risks are currently heightened due to the historically low interest rate environment. Mortgage- and asset-backed securities’ risks include credit, interest-rate, prepayment, and extension risk. Obligations of U.S. Government agencies are supported by varying degrees of credit but are generally not backed by the full faith and credit of the U.S. Government.

Composition by Security Type

as of December 31, 2016


Category	Percentage of Net Assets
Equity Securities
Common Stocks		62.8	%

Total		62.8	%

Fixed Income Securities
Asset & Commercial Mortgage Backed Securities		3.0	%
Corporate Bonds		19.6
Foreign Government Obligations		0.3
Municipal Bonds		1.3
U.S. Government Agencies		0.5
U.S. Government Securities		11.4

Total		36.1	%

Short-Term Investments		0.9
Other Assets & Liabilities		0.2

Total		100.0	%


		5

Hartford Capital Appreciation HLS Fund inception 04/02/1984


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
Capital Appreciation IA		5.52%		13.49%		6.05%
Capital Appreciation IB		5.24%		13.20%		5.78%
Capital Appreciation IC		4.99%		12.93%		5.52%
Russell 3000 Index		12.74%		14.67%		7.07%
S&P 500 Index		11.96%		14.66%		6.95%

Class IC shares commenced operations on April 30, 2014. Class IC shares performance prior to that date reflects Class IA shares performance adjusted to reflect the 12b-1 fee of 0.25% and the administrative services fee of 0.25% applicable to Class IC shares. The performance after such date reflects actual Class IC shares performance.

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

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

The indices are unmanaged, and their results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA, Class IB and Class IC were 0.67%, 0.92% and 1.17%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		6

Hartford Capital Appreciation HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Saul J. Pannell, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Gregg R. Thomas, CFA

Senior Managing Director and Associate Director of Investment Strategy & Risk

Wellington Management Company LLP

Kent M. Stahl, CFA

Senior Managing Director and Director of Investment Strategy & Risk

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Capital Appreciation HLS Fund returned 5.52% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the Russell 3000 Index, which returned 12.74% for the same period, and the Fund’s other benchmark, the S&P 500 Index, which returned 11.96% for the same period. The Fund also underperformed the 10.98% average return of the Lipper Multi-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

U.S. equities rose over the period, as measured by the S&P 500 Index, notwithstanding volatility during the year. Early in the first quarter of 2016, equities plunged and moved in virtual lockstep with the price of oil as fears of a recession and weakness in China weighed on investors’ minds. However, equity markets surged in late February and March as solid economic data, a stabilization in oil prices, and accommodative commentary from the Federal Reserve (Fed) helped to calm the market’s early year jitters. A better-than-feared U.S. corporate earnings season in the second quarter and an encouraging economic backdrop helped sustain the rally. At its June meeting, the Fed left rates unchanged and reduced its U.S. growth and long-run policy rate forecasts, citing mixed U.S. economic data and uncertainty about global economic and financial developments. After plunging in the two trading days following the approval of the U.K.’s exit from the E.U. (Brexit), U.S. equities staged an impressive comeback in the days following.

data, and valuation concerns. Stocks surged following Donald Trump’s victory in the U.S. Presidential election on hopes of increased fiscal stimulus, reduced regulatory restrictions, and lower corporate taxes. Economic data released during the fourth quarter was generally encouraging, as third quarter gross domestic product (GDP) growth was revised slightly higher and the U.S. housing market continued to display healthy trends. In December, the Fed raised rates by 0.25%, a move that was anticipated by most of the market. It was only the second increase in the last decade.

Equity returns varied by market-cap during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, outperformed large-cap equities, as measured by the S&P 500 Index. Nine of the eleven sectors¹ in the Russell 3000 Index had positive returns during the period. Energy (+27%), Financials (+25%), and Telecommunication Services (+24%) performed best, while Real Estate (-4%) and Healthcare (-3%) lagged the broader index.

Security selection was the primary detractor from performance relative to the Russell 3000 Index during the period. Selection was weakest within the Information Technology, Healthcare, and Consumer Discretionary sectors. Sector allocation, a result of our bottom-up security selection process, also detracted from performance relative to the Russell 3000 Index during the period. An overweight to the Healthcare sector and an underweight to Energy detracted most from benchmark-relative returns. This was only partially offset by an underweight to Financials in the early part of the year and an underweight to Real Estate, which contributed positively to relative performance. From a factor perspective, low volatility and yield outperformed in the first half of the year, which was a headwind for the Fund. The trend in low volatility reversed in the second half of the year and risk-seeking factors outperformed following the election. An overweight to beta (stocks that are more sensitive to market movements) and small cap, as well as an underweight to momentum


		7

Hartford Capital Appreciation HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

(stocks with persistent positive price movements), were tailwinds for the Fund during the year, while underweight exposure to dividend yield detracted from performance.

The largest absolute and relative detractors over the period were SunPower (Information Technology), Bristol-Myers Squibb (Healthcare), and Regeneron Pharmaceuticals (Healthcare). Shares of SunPower, a U.S.-based energy company that designs and manufactures crystalline silicon photovoltaic cells, roof tiles, and solar panels, fell during the period on concerns that 2017 earnings will decline as the renewal of investment tax credits in late 2015 has elongated project demand into future years. The stock price of Bristol-Myers Squibb, a U.S.-based biopharmaceutical company, fell as the company’s trial for immuno-oncology drug Opdivo failed during the third quarter of 2016. Shares of Regeneron Pharmaceuticals, a U.S.-based biotech company, fell during the period. In February, the company announced poor quarterly earnings and conservative guidance for 2016 which adversely affected the stock price. Additionally, a verdict was reached during the period that Regeneron violated Amgen’s patent on an injectable cholesterol drug. This headline news also weighed on the stock price. Allergan (Healthcare) was a top absolute detractor during the period.

The top contributors to performance relative to the Russell 3000 Index during the period included Sberbank (Financials), Ivanhoe Mines (Materials), and Samsung (Information Technology). Shares of Sberbank, a Russian banking and financial services company, rose during the period. In May, the company reported a record profit for the first quarter of 2016, largely driven by lower borrowing costs and a decline in loan-loss provisions. The stock was additionally supported by geopolitical developments in the latter part of the year. Ivanhoe Mines, a Canadian mineral exploration and development company, saw its stock price rise after announcing a copper discovery early in 2016 and receiving unsolicited interest in the company. The share price of Samsung, a Korean-based manufacturer of consumer electronic products, rose over the period as it announced quarterly results that beat market expectations from strong mobile phone demand. Though shares pulled back slightly in September due to the recall of its Galaxy Note 7 phone, the stock price later recovered. Merck (Healthcare), JPMorgan Chase (Financials), and PNC Financial (Financials) were the top absolute contributors during the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

The election of Donald Trump could prove to be a transformative event for the economy as emphasis on fiscal policies, de-regulation, and a more efficient tax code support an improved growth outlook. However, there currently are many unknowns and this leads to a broader range of potential outcomes. Additional policy detail out of

the U.S., the ability of China to extend its current economic cycle, and political developments in Germany and France are key events to watch, in our opinion. From a factor perspective, we have seen strong performance from value in the U.S. We believe we are still relatively early in the value cycle compared to past cycles. However, it’s important to note that value is normally an early cycle factor, and in our opinion, we are not in the early stages. Quality has been more correlated with low volatility recently, so we remain cautious on this exposure.

At the end of the period, the Fund’s largest overweights were to the Financials and Information Technology sectors, while the Fund’s largest underweights were to the Consumer Staples, Real Estate, and Energy sectors, relative to the Russell 3000 Index.

A Word about Risk

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		13.4	%
Consumer Staples		5.6
Energy		5.1
Financials		19.0
Health Care		13.9
Industrials		9.3
Information Technology		21.8
Materials		3.7
Real Estate		2.2
Telecommunication Services		1.4
Utilities		2.4

Total		97.8	%

Short-Term Investments		2.2
Other Assets & Liabilities		0.0

Total		100.0	%

A sector may be comprised of several industries. For Fund compliance purposes, the Fund may not use the same classification system and these sector classifications are used for financial reporting purposes.


		8

Hartford Disciplined Equity HLS Fund inception 05/29/1998


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year			5 Years			10 Years
Disciplined Equity IA		5.76	%		15.96	%		7.52	%
Disciplined Equity IB		5.49	%		15.67	%		7.25	%
S&P 500 Index		11.96	%		14.66	%		6.95	%

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

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.76% and 1.01%,

respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.

All investments are subject to risk including the possible loss of principal. For a discussion of the Fund’s risks, please see “A Word about Risk” section in the

“Manager Discussion” section of this report. For more detailed information on the risks associated with an investment in the Fund, please see the prospectus.


		9

Hartford Disciplined Equity HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Manager

Mammen Chally, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Disciplined Equity HLS Fund returned 5.76% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the S&P 500 Index, which returned 11.96% for the same period. The Fund also underperformed the 10.33% average return of the Lipper Large-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

U.S. equities continued to climb in July, following a solid start to the corporate earnings season and encouraging housing and employment data releases. Stocks were essentially flat in August and September as investors remained focused on the Fed’s actions, specifically on the timing of the next rate increase. A confluence of worries contributed to increased volatility during September, including uncertainty surrounding the U.S. presidential election, tepid economic data, and valuation concerns. Stocks surged following Donald Trump’s victory in the U.S. Presidential election on hopes of increased fiscal stimulus, reduced regulatory restrictions, and lower corporate taxes. Economic data released during the fourth quarter was generally encouraging, as third quarter gross domestic product (GDP) growth was revised slightly higher and the U.S. housing market continued to display healthy trends. In December, the Fed raised rates by 0.25%, a move that was anticipated by most of the market. It was only the second increase in the last decade.

Equity returns varied by market-cap, during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, outperformed large-cap equities, as measured by the S&P 500 Index. During the twelve-month period, nine of the eleven sectors¹ within the Russell 1000 Index rose, led by Energy (+27%), Telecommunication Services (+24%), and Financials (+23%). Real Estate (+6%) and Healthcare (-3%) lagged on a relative basis.

The Fund underperformed the S&P 500 Index during the period primarily due to weak security selection, primarily within Information Technology, Consumer Staples, and Consumer Discretionary, which more than offset stronger selection within the Energy and Financial sectors. Sector allocation, which is a residual of the Fund’s bottom-up security selection process, also detracted from benchmark-relative returns during the period. Underweight allocations to the Energy and Telecommunication Services sectors more than offset the positive impact from an underweight to the Real Estate sector.

The largest detractors from performance relative to the S&P 500 Index over the period were Allergan (Healthcare), McKesson (Healthcare), and Signet Jewelers (Consumer Discretionary). Shares of Allergan, a U.S.-based specialty pharmaceutical company, fell during the period as Pfizer walked away from a proposed merger due to changes in the Treasury Department’s tax inversion rules. Shares of McKesson, a U.S.-based pharmaceutical distributor and health care information company, fell over the period as drug distributors generally have been under pressure due to weak generic pricing. We exited the position during the period. Shares of Signet Jewelers, a U.S.-based retailer of jewelry, fell over the period as a result of fears over the quality of their credit business and increased scrutiny around service issues. We exited the position during the period.

The largest contributors to benchmark-relative performance over the period were Bank of America (Financials), JPMorgan Chase (Financials), and UnitedHealth Group (Healthcare). Shares of Bank of America, a U.S.-based global financial services company, rose during the period as the bank has made what many investors consider to be impressive improvements to its business model. It has streamlined operations and right-sized the business so that interest rate increases can be expected to provide an increase to earnings. Shares of JPMorgan Chase, a U.S.-based global financial services company, rose during the period benefiting from the anticipation that the incoming U.S. administration would roll back some post-financial


		10

Hartford Disciplined Equity HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

crisis regulations. Shares of UnitedHealth Group, a U.S.-based health care benefits and services provider, rose over the period as its traditional benefits business is expected to post organic enrollment growth across each of its three main business lines. Optum, the firm’s health care IT and consulting services division, may also benefit from growth of Optum Rx, OptumInsight, and OptumHealth.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

As we enter 2017, we believe the global trend toward a return of inflation remains intact as we expect stronger global growth and higher inflation in 2017. Under a Trump administration, there is a reasonable likelihood of corporate and individual tax reform, both of which we believe would be good for reinvestment and consumption. Trump’s policies are likely to be inflationary and induce a stronger U.S. dollar. We expect that tax cuts will be a centerpiece of the new administration. We believe that corporate tax cuts, including the return of foreign earnings to the U.S. at lower tax rates, may mean a boost for corporate earnings. Several questions remain on implementation and cost. Another boost to the U.S. economy may come from deregulation in areas such as health care, financial services, and energy drilling, which would increase business confidence, lower the cost of doing business, and increase incentives to hire more workers.

However, we think a risk under a Trump presidency is that the U.S. may end up with trade tensions, which would be a hindrance for the U.S. economy, as well as the global economy. We believe there is also the risk of increased geopolitical uncertainty. The reaction of the rest of the world to Trump’s policies regarding trade and other relationships remains a wild card until we see his policies unfold.

Globally, we are encouraged by data coming out of Europe and believe nominal GDP growth and earnings will pick up given the positive economic data surprises in recent months and weakness of the euro. However, we view the French election as a near-term risk, as well as the negotiations surrounding Brexit, which will likely heat up in the first half of the year.

A Word about Risk

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		13.5	%
Consumer Staples		13.8
Energy		3.5
Financials		17.5
Health Care		12.4
Industrials		10.7
Information Technology		19.4
Materials		3.7
Utilities		5.0

Total		99.5	%

Short-Term Investments		0.8
Other Assets & Liabilities		(0.3	)

Total		100.0	%


		11

Hartford Dividend and Growth HLS Fund inception 03/09/1994


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks a high level of current income consistent with growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
Dividend and Growth IA		14.89%		13.96%		7.23%
Dividend and Growth IB		14.58%		13.67%		6.96%
S&P 500 Index		11.96%		14.66%		6.95%
Russell 1000 Value Index		17.34%		14.80%		5.72%

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

Russell 1000 Value Index is an unmanaged index that measures the performance of those Russell 1000 Index companies with lower price-to-book ratios and lower forecasted growth values. The Russell 1000 Index is an unmanaged index that measures the performance of the 1,000 largest companies in the Russell 3000 Index, which measures the performance of the 3,000 largest U.S. companies, based on total market capitalizations.

The indices are unmanaged, and their results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.67% and 0.92%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		12

Hartford Dividend and Growth HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Edward P. Bousa, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Donald J. Kilbride

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Matthew G. Baker

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Dividend and Growth HLS Fund returned 14.89% for the twelve-month period ended December 31, 2016, outperforming the Fund’s benchmark, the S&P 500 Index, which returned 11.96% for the same period. The Fund underperformed the Russell 1000 Value Index, its other benchmark, which returned 17.34% for the same period. The Fund outperformed the 14.68% average return of the Lipper Equity Income Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Equity returns varied by market-cap during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, outperformed large-cap equities, as measured by the S&P 500 Index. During the twelve-month period, nine of the eleven sectors¹ within the S&P 500 Index posted positive returns, led by Energy (+27%), Telecommunication Services (+24%), and Financials (+23%), while Real Estate (-6%) and Healthcare (-3%) fell.

Sector allocation, a result of the Fund’s bottom up stock selection process, was the primary contributor to performance relative to the S&P 500 Index during the period. Overweights to the Financials and Energy sectors and an underweight to the Consumer Discretionary sector more than offset the negative impact of an overweight to Healthcare and an underweight to the Information Technology sector. Security selection also contributed positively to returns relative to the S&P 500 Index during the period. Strong selection within Healthcare, Consumer Discretionary, and Industrials was only partially offset by weaker selection within Consumer Staples and Information Technology.

The Fund’s top contributors to performance relative to the S&P 500 Index during the period were Bank of America (Financials), Prudential Financial (Financials), and JPMorgan Chase (Financials). Bank of America, a U.S.-based bank holding and financial holding company,


		13

Hartford Dividend and Growth HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

saw its stock price rise on expectations of rising interest rates and hope that the Republican sweep of the White House and Congress might relieve regulatory pressures the banking sector has faced since the financial crisis. Prudential Financial, a U.S.-based financial services company, rose for the period after it announced strong operating results and a positive outlook. Profitability of the company was also better than expected given the low interest rate environment. JPMorgan Chase, a U.S.-based financial holding company, was another company whose share price rose following the U.S. presidential election and expectations of reduced regulations in the Financials sector. Top absolute performers during the period included Chevron (Energy).

The Fund’s top detractors from returns relative to the S&P 500 Index were AstraZeneca (Healthcare), Wells Fargo (Financials) and Bristol-Myers Squibb (Healthcare). The stock price of AstraZeneca, a U.K.-based manufacturer of pharmaceutical products, fell over the period after it reported results that disappointed investors and lowered its 2016 guidance. Shares of Wells Fargo, a U.S.-based financial services company, fell during the period, as investors became increasingly concerned that interest rates would not move higher quickly enough to support near-term profitability for the bank, and following allegations that bank employees opened more than 2 million unauthorized accounts to hit sales targets. The stock price of Bristol-Myers Squibb, a U.S.-based biopharmaceutical company, fell following the release of their Opdivo lung cancer drug trial results, which did not achieve the primary endpoint. Citigroup (Financials) and Cardinal Health (Healthcare) were also top absolute detractors during the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

At the start of the year, the outlook that interest rates would remain lower for a longer than expected period led to declines in oil prices and increased pressure on bank earnings. A rising probability of Clinton being elected as president also contributed to skepticism about bank earnings as investors anticipated higher regulatory hurdles with a Democratic administration. This challenging environment reversed in November with the surprising result in which Donald Trump won over Hillary Clinton, and Republicans swept both houses of Congress.

We believe rates will rise incrementally and will at least be higher in 2017 than they were in 2016. Oil prices have gotten a boost following the Organization of the Petroleum Exporting Countries’ (OPEC) decision to cut supply. Although we do not believe that economic growth will necessarily be exceptionally robust, we do believe that these marginal improvements should lead to more rational market behavior. For example, higher rates should allow capital to be allocated in a more “normal” fashion. We believe distortions to capital

allocation were introduced when rates were so far below normal. Internationally, we expect Europe should benefit from growth in the U.S. Likewise, China should also share in positive momentum in the U.S. though debt issues could dampen the effect of tailwinds.

We are finding valuation across sectors to be compelling for a smaller group of sectors as equity markets appear to be discounting robust economic growth. As a result, we have been taking profits, selling higher multiple energy companies, and adding to companies with more compelling relative valuations and solid fundamentals. We also added to the Fund’s position in Apple, which has not participated in the “Trump rally” following the U.S. presidential election.

We continue to focus on valuations and company fundamentals. During the year, we gained confidence in this approach to company analysis as the Fund’s positioning with overweight allocations to Financials and Energy has been rewarded. Although we did not anticipate the Brexit result or the Trump victory in the U.S. presidential election, which were key events driving market performance this year, we had established downside protection prior to those events by investing in companies that had lowered their breakeven profit levels by lowering their cost bases. These companies performed best when markets rose rapidly following the U.S. elections, and the result was the strongest relative performance quarter in the recent history of the approach. The majority of the full year performance was generated in the final quarter of the year.

At the end of the period, the Fund’s largest overweights relative to the S&P 500 Index were to the Financials, Energy, and Utilities sectors, while the Fund’s largest underweights were to Information Technology and Consumer Discretionary.

A Word about Risk


		14

Hartford Dividend and Growth HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		7.1	%
Consumer Staples		6.3
Energy		10.1
Financials		24.7
Health Care		13.8
Industrials		10.5
Information Technology		14.0
Materials		3.6
Real Estate		0.5
Telecommunication Services		2.2
Utilities		4.7

Total		97.5	%

Short-Term Investments		2.3
Other Assets & Liabilities		0.2

Total		100.0	%


		15

Hartford Global Growth HLS Fund inception 09/30/1998


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year			5 Years			10 Years
Global Growth IA		1.95	%		14.62	%		4.61	%
Global Growth IB		1.71	%		14.34	%		4.35	%
MSCI World Growth Index (Gross)		3.21	%		11.04	%		5.30	%

MSCI World Growth Index (Gross) 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 United States, Canada, Europe, Australia, New Zealand and the Far East.

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.81% and 1.06%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.

All investments are subject to risk including the possible loss of principal. For a discussion of the Fund’s risks, please see “A Word about Risk” section in the

“Manager Discussion” section of this report. For more detailed information on the risks associated with an investment in the Fund, please see the prospectus.


		16

Hartford Global Growth HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Matthew D. Hudson, CFA

Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

John Boselli, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Global Growth HLS Fund returned 1.95% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the MSCI World Growth Index (Gross), which returned 3.21% for the same period. The Fund also underperformed the 2.60% average return of the Lipper Global Large-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Global equities rose over the twelve-month period, as measured by the MSCI All Country World Index (Gross). 2016 got off to a volatile start as Chinese equities plunged in early January, sparking a global flight to quality trade. Along with ongoing worries about a hard landing in China, fears that yuan weakness could unleash a wave of global deflationary pressure resurfaced. Once again, extended monetary policy accommodation by major central banks helped support risk assets, such as equities. First, the Bank of Japan (BOJ) cut its benchmark rate to negative territory in January. Next, the People’s Bank of China (PBOC) lowered the reserve-requirement ratio in an effort to boost growth. Finally, European Central Bank (ECB) President Mario Draghi announced more-than-expected stimulus in March. Emerging market equities participated strongly in the market rebound. In June, the British electorate voted to leave the European Union (Brexit). The Brexit vote overshadowed a promising European economic backdrop and the ECB’s reaffirmation of its policy stance of maintaining low to near zero interest rates. In the U.S., solid economic data helped investors shrug off the Federal Reserve’s (Fed) ramped-up statements suggesting plans to further raise rates during May.

During the third quarter, expectations for continued accommodative monetary policy from central banks around the globe helped to stoke investors’ risk appetites. The Bank of England delivered a hefty stimulus package, which helped counteract the Brexit shock. Stocks rallied following Donald Trump’s victory in the U.S. Presidential election in November on expectations that Trump would reduce regulatory restrictions and increase fiscal stimulus, including corporate and individual tax cuts and a boost in infrastructure

spending. However, there was pronounced dispersion among sectors and regions. For instance, emerging market equities fell on concerns that a Trump administration would lead to trade protectionism, higher inflation, and a stronger U.S. dollar. In December, the Fed raised rates by 0.25%, a move that was anticipated by most of the market. It was only the second increase in the last decade.

During the period, U.S. equities outperformed non-U.S. equities, as measured by the S&P 500 Index and MSCI EAFE Index, respectively, and emerging market equities outperformed their developed market counterparts, as measured by the MSCI Emerging Markets Index and MSCI World Index, respectively. Within the MSCI World Growth Index (Gross), seven of eleven sectors¹ posted positive returns during the period. Energy (+28%), Materials (+12%), and Industrials (+11%) gained the most, while the Healthcare (-10%), Real Estate (-6%), and Telecommunication Services (-3%) sectors lagged the most on a relative basis.

The Fund’s underperformance versus the MSCI World Growth Index (Gross) was driven by sector allocation, a result of the Fund’s bottom-up security selection process. The Fund’s underweights to Industrials and Materials and an overweight to Healthcare detracted the most from relative performance. This was partially offset by positive contribution from an overweight to Information Technology. Security selection slightly detracted from benchmark-relative results over the period. Selection within Industrials, Consumer Discretionary and Healthcare detracted the most, which was partially offset by stronger selection within Information Technology and Energy.

The top detractors from the Fund’s performance relative to the MSCI World Growth Index (Gross) were Allergan (Healthcare), Bristol-Myers Squibb (Healthcare), and Apple (Information Technology). Allergan, a U.S.-based high quality specialty pharmaceutical company, underperformed analysts’ expectations; after having announced a merger with Pfizer in the fourth quarter, the Treasury’s recent changes to tax inversion rules caused Pfizer to walk away from the deal, which led to a slump in Allergan’s stock price. The stock price of Bristol-Myers Squibb, a U.S.-based biopharmaceutical company, fell as the company’s trial for immuno-oncology drug


		17

Hartford Global Growth HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

Opdivo failed during the third quarter of 2016. Shares of Apple, a U.S.-based mobile communication and media devices company, rose during the period after the company announced better than expected sales of its new iPhone 7 in the fourth quarter. Not owning this benchmark-constituent detracted from relative performance. Top absolute detractors also included Unione Di Banche (Financials).

Top contributors to performance relative to the MSCI World Growth Index (Gross) included Nintendo (Information Technology), Pioneer (Energy), and Assured Guaranty (Financials). Nintendo, a Japan-based gaming device and software company, saw its stock price rise during the period due to the release of its Pokemon GO game and announcing the release of Super Mario Run on the iPhone. Shares of Pioneer, a U.S.-based oil and gas exploration and production company, rose during the period as the company benefited from the recovery in commodity prices and after it raised its production growth outlook. The stock price of Assured Guaranty, a U.S.-based insurance company, rose for the year after it announced earnings results in November that beat market expectations. Comcast (Consumer Discretionary) was a top absolute contributor during the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

Looking ahead, we believe that the global economy seems poised for moderate growth in 2017. Economic conditions are broadly improving. A combination of monetary and fiscal policies in the United States, Japan, and Europe should have a positive influence while policy reforms in India and a rising middle class in China are driving growth in those countries. If President-elect Trump can deliver on his promises for lower corporate taxes, less regulation, and further fiscal stimuli, we feel this should contribute to growth in the United States in particular. We believe, however, that these potential positives must be balanced with the risks associated with the possibilities of increased protectionism, the threat of trade wars, the impact of a stronger U.S. dollar, higher interest rates, and heightened geopolitical risk.

At the end of the period, the Fund’s largest sector overweights were to the Information Technology and Financials sectors while the Fund was most underweight Consumer Staples, Industrials, and Healthcare, relative to the MSCI World Growth Index (Gross).

A Word about Risk

differences in market structure and liquidity, as well as political and economic developments in foreign countries and regions. These risks are generally greater for investments in emerging markets. Mid-cap securities can have greater risk and volatility than large-cap securities. Growth investing may go out of favor, which may cause the Fund to underperform the broader stock market.

Composition by Country

as of December 31, 2016


Country	Percentage of Net Assets
Australia		1.4	%
Belgium		1.0
Brazil		0.6
Canada		0.7
China		3.2
Denmark		1.2
France		1.5
Germany		2.1
Hong Kong		1.5
India		1.1
Indonesia		1.0
Ireland		1.9
Israel		0.8
Italy		0.7
Japan		5.8
Netherlands		0.5
Portugal		0.7
Russia		0.6
South Korea		1.3
Spain		0.6
Sweden		1.2
Switzerland		2.4
Taiwan		1.4
United Kingdom		6.3
United States		59.5
Short-Term Investments		1.3
Other Assets & Liabilities		(0.3	)

Total		100.0	%


		18

Hartford Growth Opportunities HLS Fund inception 03/24/1987


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks capital appreciation.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
Growth Opportunities IA		-0.49%		16.93%		7.89%
Growth Opportunities IB		-0.77%		16.62%		7.62%
Growth Opportunities IC		-1.01%		16.35%		7.36%
Russell 3000 Growth Index		7.39%		14.44%		8.28%
Russell 1000 Growth Index		7.08%		14.50%		8.33%

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.

Russell 1000 Growth Index is an unmanaged index that measures the performance of those Russell 1000 Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell 1000 Index is an unmanaged index that measures the performance of the 1,000 largest companies in the Russell 3000 Index, which measures the performance of the 3,000 largest U.S. companies based on total market capitalization.

The indices are unmanaged, and their results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA, Class IB and Class IC were 0.65%, 0.90% and 1.16%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		19

Hartford Growth Opportunities HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Michael T. Carmen, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Mario E. Abularach, CFA

Senior Managing Director and Equity Research Analyst

Wellington Management Company LLP

Stephen Mortimer

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Growth Opportunities HLS Fund returned -0.49% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmarks, the Russell 3000 Growth Index and the Russell 1000 Growth Index, which returned 7.39% and 7.08%, respectively, for the same period. The Fund also underperformed the 2.81% average return of the Lipper Multi-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Equity returns varied by market-cap during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, respectively, outperformed large-cap equities, as measured by the S&P 500 Index. All three groups posted positive returns during the twelve-month period. Nine out of eleven sectors¹ in the Russell 3000 Growth Index rose during the period, led by Telecommunication Services (+24%) and Utilities (+21%), while Healthcare (-7%) and Real Estate (-6%) lagged on a relative basis.

Security selection within Information Technology, Healthcare, and Financials was the primary detractor from benchmark-relative performance during the period. Positive selection in Energy and Consumer Discretionary was not enough to offset negative results elsewhere in the portfolio. Sector allocation, a result of the bottom-up stock selection process, was also a detractor from benchmark-relative performance over the period, due to an overweight to Healthcare and underweights to Telecommunication Services and Materials. This was partially offset by the positive impact from an overweight to Energy.

The top relative detractors from performance relative to the Russell 3000 Growth Index during the period included Apple (Information Technology), athenahealth (Healthcare), and McKesson (Healthcare). An underweight to Apple, a U.S.-based designer and manufacturer of consumer electronics, software, and computers,


		20

Hartford Growth Opportunities HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

during the period detracted from relative results following stronger-than-expected pre-order numbers for the iPhone 7. We exited the position during the period. Shares of athenahealth, a U.S. cloud-based business services company focused on the health care industry, fell during the period. The company had a choppy start to the year after undergoing some recent additions to their physician interface and transitions among their management team. A significant earnings miss in the third quarter also weighed on the stock price. We exited the position during the period. Shares of McKesson, a U.S.-based pharmaceutical distributor and health care information technology company, fell during the period after the company lowered their 2017 guidance due to lower branded drug inflation and an increase in competitive pricing within the independent pharmacy space. Top absolute detractors during the period also included Tableau (Information Technology) and Allergan (Healthcare).

The top relative contributors to performance relative to the Russell 3000 Growth Index during the period were Netflix (Consumer Discretionary), Zillow (Information Technology), and Gilead Sciences (Healthcare). Shares of Netflix, a U.S.-based provider of subscription services for television shows and movies via mail and digital distribution, rose during the period following the release of strong third quarter earnings that beat consensus estimates. Shares of Zillow, a U.S. based online real estate listing company, rose as the company is reaping the benefits of its acquisition of Trulia and its accelerating revenue. Shares of Gilead Sciences, a U.S.-based research-focused biopharmaceutical firm, fell as future growth catalysts are difficult to handicap as the scientific challenges surrounding the firm’s pipeline initiatives remain formidable. Not holding this benchmark constituent contributed positively to relative returns during the period. Priceline (Consumer Discretionary) and Amazon (Consumer Discretionary) were among the top absolute contributors.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

Following the November presidential election, the reflation trading theme related to expectations around increased fiscal stimulus dominated the narrative, leading to big equity inflows and the largest exodus from bonds since the “taper tantrum,” the 2013 surge in U.S. Treasury yields after the Federal Reserve scaled back quantitative easing. A Republican majority in Congress may result in tax reform, less business regulation, repatriation of cash from U.S. multinational companies, and more short-term fiscal stimulus, which could support near-term growth. We will continue to seek to identify companies that fit our investment criteria by employing our bottom-up investment process.

At the end of the period, the Fund was most overweight the Financials and Energy sectors and most underweight the Consumer Staples and Healthcare sectors, relative to the Russell 3000 Growth Index.

A Word about Risk

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		16.7	%
Consumer Staples		3.5
Energy		6.8
Financials		9.7
Health Care		12.4
Industrials		13.5
Information Technology		29.8
Materials		6.2
Real Estate		1.1

Total		99.7	%

Fixed Income Securities
Corporate Bonds		0.1	%
Short-Term Investments		0.9
Other Assets & Liabilities		(0.7	)

Total		100.0	%


		21

Hartford Healthcare HLS Fund inception 05/01/2000


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term capital appreciation.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year			5 Years			10 Years
Healthcare IA		-8.39	%		19.33	%		10.55	%
Healthcare IB		-8.64	%		19.03	%		10.27	%
S&P Composite 1500 Health Care Index		-2.05	%		17.18	%		9.97	%
S&P 500 Index		11.96	%		14.66	%		6.95	%
Spliced Index		-4.28	%		17.19	%		10.24	%

Effective April 1, 2016, the Fund changed its benchmark to the S&P Composite 1500

Health Care Index due to S&P announcing that the S&P North American Health Care

Sector Index would be discontinued. Effective May 2, 2016, the S&P North American

Health Care Sector Index was discontinued.

S&P Composite 1500 Health Care Index is an unmanaged capitalization-weighted index comprised of those companies included in the S&P Composite 1500 that are classified as members of the Global Industry Classification Standard (GICS^®) health care sector.

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 was a modified capitalization-weighted index based on United States headquartered health care companies.

Spliced Index is calculated by Hartford Funds Management Company, LLC (“HFMC”)

and returns from April 1, 2016 to December 31, 2016 represent the S&P Composite 1500 Health Care Index and returns prior to April 1, 2016 represent the S&P North American Health Care Sector Index.

The indices are unmanaged, and their results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or

taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.87% and 1.12%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		22

Hartford Healthcare HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Jean M. Hynes, CFA

Senior Managing Director and Global Industry Analyst

Wellington Management Company LLP

Ann C. Gallo

Senior Managing Director and Global Industry Analyst

Wellington Management Company LLP

Kirk J. Mayer, CFA

Senior Managing Director and Global Industry Analyst

Wellington Management Company LLP

Robert L. Deresiewicz

Senior Managing Director and Global Industry Analyst

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Healthcare HLS Fund returned -8.39%, for the twelve-month period ended December 31, 2016, underperforming the Fund’s Spliced Index¹, which returned -4.28% for the same period. The Fund also underperformed the Fund’s other benchmark, the S&P 500 Index, which returned 11.96% for the same period. The Fund outperformed the -11.21% average return of the Lipper Global Health and Biotechnology peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Health care equities (-2%) underperformed both the broader U.S. market (+12%) and the global equity market (+8%) during the period, as measured by the S&P 1500 Healthcare, S&P 500 Index, and the MSCI World Indices, respectively. Within the Fund’s Spliced Index, small-cap biopharma returned (-23%), mid-cap biopharma returned (-42%), and large-cap biopharma returned (-7%), while medical technology returned (+6%) and health services returned (+1%).

The Fund underperformed its Spliced Index over the period due primarily to unfavorable sector allocation decisions. An overweight to mid- and small-cap biopharma detracted from relative results during the period, more than offsetting positive results from an underweight to large-cap biopharma and an overweight to medical technology. Security selection contributed positively to performance relative to the Spliced Index. Security selection was strongest in mid-cap biopharma and health care services. This was partially offset by weaker selection in large-cap biopharma and medical technology over the period.

Johnson & Johnson (biopharma), Merck (biopharma), and Allergan (biopharma) were the top detractors from performance relative to the

Spliced Index. A significant underweight to Johnson & Johnson, a U.S.-based medical device and pharmaceutical manufacturer, detracted from returns relative to the Spliced Index during the period as the stock held up well given the defensive nature of its broadly diversified business. An underweight to Merck, a U.S. pharmaceutical company, detracted from returns relative to the Spliced Index during the period as the stock saw strong performance following the surprise failure of key competitor Bristol-Myers Squibb’s immuno-oncology drug trial. We eliminated the position during the period. Shares of Allergan, an Ireland-based specialty pharmaceutical company, fell following the U.S. Treasury’s new tax inversion regulations that ultimately terminated the proposed merger between Allergan and Pfizer. Regeneron (biopharma) and McKesson (Healthcare) were top detractors from absolute performance during the period.

Gilead Sciences (biopharma), TESARO (biopharma), and Valeant Pharmaceuticals (biopharma) contributed positively to results relative to the Spliced Index over the period. Shares of Gilead Sciences, a U.S.-based research-focused biopharmaceutical firm, fell as future growth catalysts are difficult to handicap as the scientific challenges surrounding the firm’s pipeline initiatives remain formidable. Eliminating the Fund’s position during the period contributed positively to performance relative to the Spliced Index. Shares of TESARO, a U.S.-based oncology-focused biopharmaceutical company, contributed positively to performance relative to the Spliced Index during the period as the stock rose after the company posted positive phase 3 data for their ovarian cancer drug. Shares of Valeant Pharmaceuticals, a global specialty drugs manufacturer, declined significantly during the period, as lower earnings, financial forecasts, and concerns over potential bond defaults led to a sharp sell-off. Not owning this benchmark constituent contributed positively

Effective April 1, 2016, the Fund changed its benchmark to the S&P Composite 1500 Health Care Index due to S&P announcing that the S&P North American Health Care Sector Index would be discontinued. Benchmark returns represent the S&P North American Health Care Sector Index from October 31, 2015 through March 31, 2016 and the S&P Composite 1500 Health Care Index from April 1, 2016 to December 31, 2016.


		23

Hartford Healthcare HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

to performance relative to the Spliced Index. UnitedHealth Group (Healthcare) and WellCare Health Plan (Healthcare) were top contributors to absolute performance during the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

The results of the U.S. presidential elections in November introduced an element of near-term uncertainty to the prospects for Healthcare equities. We await policy specifics from the new Administration and Congress on the future of the Affordable Care Act (ObamaCare), the potential regulation, or lack thereof, of drug pricing, corporate tax reform, and other relevant topics. We generally favor companies developing innovative products, and companies providing solutions to the challenges of the health care system. Such companies should be comparatively well positioned regardless of the regulatory environment. Over the long term, the tailwinds of innovation, an aging population, and the globalization of demand for cutting-edge Western-style health care should continue to drive growth of the sector, in our opinion.

A Word about Risk

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Staples		0.4	%
Health Care		98.6

Total		99.0	%

Short-Term Investments		1.2
Other Assets & Liabilities		(0.2	)

Total		100.0	%


		24

Hartford High Yield HLS Fund inception 09/30/1998


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks to provide high current income, and long-term total return.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
High Yield IA		14.25%		6.41%		6.73%
High Yield IB		13.99%		6.15%		6.47%
Bloomberg Barclays U.S. Corporate High Yield Bond Index		17.13%		7.36%		7.45%

Performance information through March 5, 2012 represents performance of the Fund’s previous sub-adviser, Hartford Investment Management Company (“HIMCO”). As of March 5, 2012, HIMCO no longer served as the sub-adviser to the Fund.

Bloomberg Barclays U.S. Corporate High Yield Bond 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 Securities and Exchange Commission.

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.76% and 1.01%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		25

Hartford High Yield HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Christopher A. Jones, CFA

Senior Managing Director and Fixed Income Portfolio Manager

Wellington Management Company LLP

David Marshak

Managing Director and Fixed Income Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford High Yield HLS Fund returned 14.25%, for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the Bloomberg Barclays U.S. Corporate High Yield Bond Index, which returned 17.13% for the same period. The Fund outperformed the 13.24% average return of the Lipper High Yield Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Over the period, global fixed income markets were influenced by global economic growth concerns, central bank monetary policy expectations, and oil prices. Early in 2016, falling oil prices, concerns over slowing growth in China, and questions about the efficacy of central bank monetary policies sparked a broad sell-off in credit markets, while government bond prices benefited from their safe-haven status. Following the lead of European central banks, the Bank of Japan (BOJ) introduced negative interest rates for the first time as the volatility and instability in financial markets threatened to tip Japan back into deflation. Markets reversed course in mid-February as the major central banks adopted more cautious monetary policies in an effort to ease market risk. The People’s Bank of China resumed its easing cycle with a surprise cut in the bank’s reserve-requirement ratio and the European Central Bank (ECB) announced significant easing measures. A rebound in crude oil prices, accommodative global central bank monetary policy and signs of near-term stabilization in China further supported global financial markets through the second quarter. The U.K.’s momentous vote in June to leave the E.U. (Brexit) led to a spike in global financial market volatility and a flight to safety, with U.K. and European equity and credit markets bearing the brunt of the sell-off.

Policy paths of major central banks appeared to diverge in the third quarter as the Bank of England unveiled a stimulus package designed to prevent a recession following the Brexit vote while the ECB kept its stimulus program unchanged and avoided making a firm commitment to further expand its bond-buying program. In the U.S., Federal Reserve (Fed) rhetoric turned more focused on interest rate increases, setting up for a December rate increase. Global government bond yields moved sharply higher in the fourth quarter, particularly following the U.S. presidential election results as President-elect Trump’s proposed expansionary fiscal policy lifted

inflation expectations. In December, the Fed increased rates for only the second time in ten years. While markets had largely anticipated the decision, the Fed’s post-meeting statement and press conference leaned more toward an aggressive interest rate policy than expected.

Developed markets’ government bond prices largely gained outside the U.S. over the period, as global uncertainties kept central banks in easing mode for most of the year. In the U.S., the yield curve flattened; front-end yields, which were heavily influenced by Fed monetary policy expectations, rose more than intermediate- and long-term yields. The U.S. dollar ended higher against a broad basket of currencies over the period, particularly following the U.S. election results and Fed rate increase decision. Emerging market currencies also weakened significantly against the dollar following Trump’s election victory over concerns about potential U.S. trade protectionism. Meanwhile, the U.K. pound depreciated in the aftermath of Brexit.

Absolute returns in the major fixed income credit risk sectors were positive during the twelve-month period, aided by the decline in government bond yields outside the U.S. In the U.S., interest income helped offset the impact of higher Treasury yields. On an excess return basis, most credit risk sectors including high yield, emerging markets debt, and investment grade corporates posted positive returns over the period, as credit spreads tightened during the year. However, this masked considerable volatility in credit risk sector returns, including a drawdown in many credit risk sectors in the first part of 2016 and immediately following the Brexit referendum.

The Bloomberg Barclays U.S. Corporate High Yield Bond Index returned 17.13% for the twelve-months ended December 31, 2016 and outperformed duration equivalent treasuries by 15.73%. The Option-Adjusted Spread of the index was 4.09% on December 31, 2016, a decrease of 2.51% from December 31, 2015.

The Fund underperformed its benchmark, the Bloomberg Barclays U.S. Corporate High Yield Bond Index, primarily as a result of sector allocation, due largely to an underweight allocation to Metals and Mining and Energy, as these two sectors represented the top performing sectors in the market, returning more than 50% and 40%, respectively. Additionally, an overweight allocation to the Healthcare


		26

Hartford High Yield HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

sector also detracted, as the sector struggled over the uncertainty surrounding the future of the Affordable Care Act. On the other hand, an underweight allocation to the transportation industry contributed positively to relative returns over the period, as the sector lagged the overall index.

In aggregate, security selection contributed positively to performance relative to the Barclays U.S. Corporate High Yield Bond Index over the period. Security selection was positive in the cable satellite and consumer cyclical services industries. Within cable satellite, a lack of exposure to Intelsat contributed positively to performance. We continue to take a cautious approach with Intelsat and remain concerned with the company’s liquidity position. Within the consumer cyclical services, an overweight to Quad/Graphics (Industrials) helped relative performance. However, this positive selection was partially offset by negative selection within the media entertainment sector, as an overweight to Tegna (Consumer Discretionary) negatively affected relative returns. Additionally, selection within Healthcare and Financial Services detracted from relative results over the period. The Fund’s underweight to BB-rated bonds, which underperformed the broader index, contributed positively to benchmark-relative performance during the period.

The Fund’s credit default swap positions on the CDX index, which are used to tactically adjust the Fund’s exposure to the market, had a positive impact on relative performance during the period.

What is the outlook?

We remain constructive on high yield, given the current backdrop of stable company fundamentals, a supportive macroeconomic landscape, and strong demand for yield-producing assets. While we continue to monitor global political risks, we believe valuations are reasonable relative to the Fund’s outlook, particularly given our expectation that defaults will decline over the course of 2017. While we expect uncertainty to persist over the next several months, we continue to take a long-term, issuer-specific approach to finding what we view as opportunities in this market. We are most positive on the U.S. economy, and, therefore, emphasize issuers that benefit from a stable or growing U.S. domestic economy. Conversely, we are closely monitoring the Fund’s position in U.S. hospitals, given potential changes to the regulatory environment. While we continue to monitor potential impacts on global growth due to the increased political uncertainty and potential trends toward more protectionist policies, we believe strong investor demand will continue to support the high yield market. We expect the seemingly insatiable global demand for yield to persist due to low absolute levels of interest rates around much of the globe. We believe this “search for yield” is likely to provide a tailwind for high yield markets going forward.

A Word about Risk

All investments are subject to risk, including the possible loss of principal. There is no guarantee the Fund will achieve its stated objective. The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. Fixed Income risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall; these risks are currently heightened due to the historically low interest rate environment. Investments in high-yield (“junk”) bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. Derivatives may be riskier or more volatile than other types of investments because they are generally more sensitive to changes in market or economic conditions; risks include currency, leverage, liquidity, index, pricing, and counterparty risk. Foreign investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as political and economic developments in foreign countries and regions. The Fund may have high portfolio turnover, which could increase the Fund’s transaction costs.

Composition by Security Type

as of December 31, 2016


Category	Percentage of Net Assets
Fixed Income Securities
Asset & Commercial Mortgage Backed Securities		0.0	%
Convertible Bonds		1.0
Corporate Bonds		91.7
Senior Floating Rate Interests		0.8

Total		93.5	%

Equity Securities
Common Stocks		1.4	%

Total		1.4	%

Short-Term Investments		3.6
Other Assets & Liabilities		1.5

Total		100.0	%


		27

Hartford International Opportunities HLS Fund inception 07/02/1990


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year			5 Years			10 Years
International Opportunities IA		1.26	%		7.70	%		3.43	%
International Opportunities IB		0.94	%		7.42	%		3.17	%
MSCI All Country World ex USA Index (Gross)		5.01	%		5.48	%		1.42	%

MSCI All Country World ex USA Index (Gross) 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.

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.74% and 0.99%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		28

Hartford International Opportunities HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Nicolas M. Choumenkovitch

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Tara C. Stilwell, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of the Hartford International Opportunities HLS Fund returned 1.26% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the MSCI All Country World ex USA Index (Gross), which returned 5.01% for the same period. The Fund outperformed the -0.20% average return of the Lipper International Multi-Cap Growth Fund peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

International equities rose over the twelve-month period, as measured by the MSCI All Country World ex USA Index (Gross). 2016 got off to a volatile start as Chinese equities plunged in early January, sparking a global flight to quality trade. Along with ongoing worries about a hard landing in China, fears that yuan weakness could unleash a wave of global deflationary pressure resurfaced. Once again, extended monetary policy accommodation by major central banks helped support risk assets. First, the Bank of Japan (BOJ) cut its benchmark rate to negative territory in January. Next, the People’s Bank of China (PBOC) lowered the reserve-requirement ratio in an effort to boost growth. Finally, European Central Bank (ECB) President Mario Draghi announced more-than-expected stimulus in March. Emerging market equities participated strongly in the market rebound. In June, the British electorate voted to leave the European Union (Brexit). The Brexit vote overshadowed a promising European economic backdrop and the ECB’s reaffirmation of its cautious policy stance. In the U.S., solid economic data helped investors shrug off the Federal Reserve’s (Fed) ramped-up statements suggesting plans to further raise rates during May.

During the third quarter, expectations for continued accommodative monetary policy from central banks around the globe helped to stoke investors’ risk appetites. The Bank of England delivered a hefty stimulus package, which helped counteract the Brexit vote shock. Stocks rallied following Donald Trump’s victory in the U.S. Presidential election in November on expectations that Trump will reduce regulatory restrictions and increase fiscal stimulus, including corporate and individual tax cuts and a boost in infrastructure

During the twelve-month period, U.S. equities outperformed non-U.S. equities, as measured by the S&P 500 Index and MSCI All Country World ex USA Index (Gross), and emerging market equities outperformed their developed market counterparts, as measured by the MSCI Emerging Markets Index and MSCI World Index. Within the MSCI All Country World ex USA Index (Gross), five of the eleven sectors¹ posted positive returns during the period; Energy (+32%), Materials (+28%), and Information Technology (+11%) rose the most, while Healthcare (-13%), Real Estate (-7%), and Telecommunication Services (-4%) fell.

The Fund underperformed the MSCI All Country World ex USA Index (Gross), due primarily to security selection, while sector allocation also detracted from performance. Security selection was weakest within the Consumer Discretionary, Consumer Staples, and Energy sectors. This was partially offset by stronger selection within the Materials and Information Technology sectors. Sector allocation, a result of our bottom-up security selection process, also detracted from benchmark-relative performance during the period. An underweight to the Materials sector early in the period and an overweight to the Healthcare sector detracted from benchmark relative returns, which was partially offset by an underweight to Telecommunication Services. On a regional basis, the Fund’s overweight to and security selection within Europe detracted the most; this was slightly offset by positive performance from security selection in Japan.

Top detractors from performance relative to the MSCI All Country World ex USA Index (Gross) during the period included Sky (Consumer Discretionary), Luxottica Group (Consumer Discretionary), and International Consolidated Air (Industrials). Sky, a U.K.-based pay TV provider, saw its stock price fall late in the period


		29

Hartford International Opportunities HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

as the Brexit referendum results put significant downward pressure on the British pound. Sky shares were also affected by concerns around their competitive position in pay-TV to over-the-top content providers. The stock price of Luxottica Group, an Italian-based eyewear maker and retailer, has been weak due to concerns around the stability of the Italian economy as well as the company’s competitive dynamics in the U.S. Shares of International Consolidated Air, the parent company of British Airways, also fell as a result of Brexit; the referendum results have increased levels of economic uncertainty, which could put additional pressure on the company’s business. China Life (Financials) and Intesa Sanpaolo (Financials) were top absolute detractors during the period.

The largest absolute and relative contributors to returns included Taiwan Semiconductor (Information Technology), Daito Trust (Real Estate), and TransCanada (Energy). Shares of Taiwan Semiconductor, the world’s largest dedicated independent semiconductor foundry, rose as demand for high performance chips increased with the launch of the new iPhone model and high-end Android devices. Shares of Daito Trust, a Japanese real estate company, rose as their business continued to enjoy favorable market conditions as demand for low-cost rental housing remains fairly strong and the company has actively returned money to shareholders in the form of higher dividends and share buybacks. TransCanada, a Canadian energy infrastructure company, reported first quarter results in April which beat market consensus estimates for earnings and cash flow, sending the stock price of the company higher.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

The market has slowly appeared to transition from one driven by “lower for longer” interest rates and deflationary fears to one that is now pricing in higher interest rates and inflation. The deflationary risks have slowly been abating globally throughout the course of the year, which we believe has been driven by the improving data out of China following the measures the government took to stimulate the economy earlier this year. We have been positioning the portfolio to benefit from equities that we believe had the risk of deflation overly discounted in their valuation and the management team had a credible plan to improve returns on capital. The U.S. election outcome did not materially change this reflationary trend, in our opinion. However, we believe it did increase the chance that the pervasive regulation that has depressed valuations in the Financials sector since the global financial crisis might improve, making for a better environment for security selection in the sector. The political backdrop in Europe remains stable despite growing concerns over the state of the European Union and is creating compelling opportunities in parts of the market, in our opinion.

At the end of the period, relative to the MSCI All Country World ex USA Index (Gross), the Fund was most overweight Energy, Real Estate, and Information Technology, and most underweight Consumer Discretionary, Telecommunication Services, and Utilities. On a regional basis, the Fund ended the period with an overweight to Europe, including the U.K. The Fund ended the period underweight Asia, including Japan, and Emerging Markets.

A Word about Risk

Composition by Currency

as of December 31, 2016


Description	Percentage of Net Assets
Australian Dollar		0.9	%
Brazilian Real		0.4
British Pound		11.4
Canadian Dollar		8.0
Euro		38.2
Hong Kong Dollar		2.5
Indian Rupee		2.3
Japanese Yen		11.6
Mexican Peso		0.7
South African Rand		0.4
South Korean Won		4.0
Swedish Krona		0.6
Swiss Franc		8.8
Taiwanese Dollar		2.3
United States Dollar		7.7
Other Assets & Liabilities		0.2

Total		100.0	%


		30

Hartford International Opportunities HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		7.0	%
Consumer Staples		11.5
Energy		10.3
Financials		21.2
Health Care		6.8
Industrials		13.6
Information Technology		11.5
Materials		7.5
Real Estate		6.1
Telecommunication Services		2.5
Utilities		1.1

Total		99.1	%

Short-Term Investments		0.7
Other Assets & Liabilities		0.2

Total		100.0	%


		31

Hartford MidCap HLS Fund inception 07/14/1997


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
MidCap IA		11.98%		16.17%		8.91%
MidCap IB		11.69%		15.88%		8.64%
S&P MidCap 400 Index		20.74%		15.33%		9.16%

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

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.70% and 0.95%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.

All investments are subject to risk including the possible loss of principal. For a discussion of the Fund’s risks, please see “A Word about Risk” section in the

“Manager Discussion” section of this report. For more detailed information on the risks associated with an investment in the Fund, please see the prospectus.


		32

Hartford MidCap HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Philip W. Ruedi, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Mark A. Whitaker, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford MidCap HLS Fund returned 11.98% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the S&P MidCap 400 Index, which returned 20.74% for the same period. The Fund outperformed the 6.62% average return of the Lipper Mid-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

(GDP) growth was revised slightly higher and the U.S. housing market continued to display healthy trends. In December, the Fed raised rates by 0.25%, a move that was anticipated by most of the market. It was only the second increase in the last decade.

Equity returns varied by market-cap during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, outperformed large-cap equities, as measured by the S&P 500 Index. Within the S&P MidCap 400 Index, ten of eleven sectors¹ posted positive returns during the period. The Materials (+37%), Financials (+31%), and Industrials (+29%) sectors posted the highest returns while the Real Estate (-3%) sector lagged on a relative basis.

The Fund’s underperformance relative to the S&P MidCap 400 Index during the period was driven by weak security selection. Security selection in the Information Technology, Financials, and Healthcare sectors detracted the most, which more than offset stronger selection in Energy. Sector allocation, a result of the bottom-up security selection process, contributed positively to relative returns over the period. An underweight to Real Estate and an overweight to Industrials contributed positively to relative returns, which more than offset negative performance from an overweight to Healthcare and an underweight to Materials.

Top detractors from relative and absolute performance during the period were Alkermes (Healthcare), TripAdvisor (Consumer Discretionary), and SunPower (Information Technology). The stock of Alkermes, a U.S. biopharmaceutical company, fell after the company announced discouraging results from one of its trials early in the year. TripAdvisor, a U.S. online travel company, suffered from a number of analyst downgrades in early 2016 and reported a decline in net profits in May, putting downward pressure on the share price. Shares of SunPower, a U.S.-based solar energy company, fell as Chinese competition eager to sell excess inventory drove down pricing.

Top contributors to relative performance during the period were MSC Industrial Direct (Industrials), Ionis Pharmaceuticals (Healthcare), and Jones Lang LaSalle (Real Estate). Shares of MSC Industrial


		33

Hartford MidCap HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

Direct, a U.S.-based retailer of industrial products including tools, hardware, fittings, valves and raw materials, rose as the company is actively investing to consolidate operations in a highly fragmented industrial supply industry. Shares of Ionis Pharmaceuticals, a U.S.-based pharmaceutical company, rose over the period as it announced positive data for its lipid-lowering drug volanesorsen in the fourth quarter. The stock price of Jones Lang LaSalle, a U.S. professional services and investment management company specializing in real estate, fell over the period, as volatile equity and credit markets at the start of the year resulted in lower sales and leasing volumes of commercial property. Not holding this benchmark constituent contributed positively to relative returns. Vantiv (Information Technology) and M&T Bank (Financials) were also top absolute contributors over the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

The Fund invests in a diversified portfolio of U.S. mid cap blue-chip market leaders. The Fund’s portfolio is not designed around particular macroeconomic or political outcomes. A Republican majority in Congress may result in tax reform, less business regulation, and more short term fiscal stimulus, which could support near term growth. However, we believe the election of Donald Trump has created more uncertainty than the market is currently reflecting.

As a result of our bottom-up, company specific process based on FVE (fundamentals, valuation, and expectations), the Fund ended the period overweight the Industrials, Healthcare, and Information Technology sectors. The Fund’s Industrial holdings include market leaders across waste disposal, credit reporting agencies, and leading niche manufacturers. The Fund’s largest underweight at the end of the period was to the Real Estate sector, and more specifically real estate investment trusts (REITs), which we continued to view as unattractive.

A Word about Risk

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		7.6	%
Consumer Staples		0.7
Energy		6.5
Financials		16.0
Health Care		14.2
Industrials		25.3
Information Technology		23.7
Materials		3.4
Utilities		2.3

Total		99.7	%

Short-Term Investments		0.3
Other Assets & Liabilities		0.0

Total		100.0	%


		34

Hartford MidCap Value HLS Fund inception 04/30/2001


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term capital appreciation.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year			5 Years			10 Years
MidCap Value IA		12.82	%		15.21	%		7.38	%
MidCap Value IB		12.56	%		14.92	%		7.11	%
Russell 2500 Value Index		25.20	%		15.04	%		6.94	%
Russell MidCap Value Index		20.00	%		15.70	%		7.59	%

Russell 2500 Value Index is an unmanaged index that measures the performance of those Russell 2500 Index companies with lower price-to-book ratios and lower forecasted growth values. The Russell 2500 Index is an unmanaged index that measures the performance of the 2,500 smallest U.S. companies based on total market capitalization.

Russell MidCap Value Index measures the performance of the mid-cap value segment of the U.S. equity universe. It includes those Russell MidCap Index companies with lower price-to-book ratios and lower forecasted growth values.

The indices are unmanaged, and their results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.84% and 1.09%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		35

Hartford MidCap Value HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Manager

James N. Mordy

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford MidCap Value HLS Fund returned 12.82% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the Russell 2500 Value Index, which returned 25.20% for the same period, and the Fund’s other benchmark, the Russell MidCap Value Index, which returned 20.00% for the same period. The Fund also underperformed the 15.62% average return of the Lipper Mid-Cap Core Fund peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

raised rates by 0.25%, a move that was anticipated by most of the market. It was only the second increase in the last decade.

Equity returns varied by market-cap during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, outperformed large-cap equities, as measured by the S&P 500 Index. Within the Russell 2500 Value Index, ten out of eleven sectors¹ posted positive returns during the twelve-month period. The Materials (+46%), Financials (+37%), and Energy (+36%) sectors performed the best while the Real Estate (-1%) sector was the only one that fell over the period.

The Fund’s underperformance relative to the Russell 2500 Value Index was largely driven by weak security selection. Negative stock selection within the Consumer Discretionary, Industrials, and Materials sectors more than offset positive stock selection within Consumer Staples and Utilities. Sector allocation, a result of the bottom-up security selection process, contributed positively to relative results over the period, primarily due to an underweight to Real Estate and an overweight to Energy. An overweight to Consumer Discretionary and an underweight to Financials detracted from benchmark-relative performance over the period.

The largest detractors from absolute returns and returns relative to the Russell 2500 Value Index included Performance Sports Group (PSG) (Consumer Discretionary), Norwegian Cruise Lines (Consumer Discretionary), and Hertz (Industrials). Shares of Performance Sports Group (PSG), a Canada-based manufacturer of sports equipment, fell during the period as the company announced a significant sales and earnings miss in their Easton baseball equipment business. Shares of Norwegian Cruise Lines, a U.S.-based international cruise operator, fell due to uncertainty regarding how Brexit will affect the travel and leisure industry, in addition to first quarter 2016 earnings below market expectations citing recent terror attacks in Paris, Brussels, and Istanbul as a drag on European cruise revenue. The stock price of Hertz, a U.S.-based car rental company, fell as the company released quarterly earnings which were below consensus expectations.

The largest contributors to performance relative to the Russell 2500 Value Index included Comerica (Financials), Microsemi (Information Technology), and Zions Bancorporation (Financials).


		36

Hartford MidCap Value HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

Comerica, a U.S.-based financial services company, saw its stock price rise after the U.S. election on expectations that the incoming White House administration would roll back some regulations in the financial sector. Shares of Microsemi, a U.S.-based designer and manufacturer of analog and mixed-signal semiconductor solutions, rose after it became a subject of takeout rumors. Zions Bancorporation, a U.S.-based financial holding company, was another beneficiary of the U.S. presidential election as it saw its shares rise after the Trump victory. Top absolute contributors during the period included Diamondback Energy (Energy).

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

Unlike 2016, we enter 2017 with a strong consensus around continued economic expansion. Our team projects stronger global growth, higher inflation, and three more Fed rate increases in 2017. We expect U.S. GDP growth at 2.5%, with a steady rate of consumer spending, a lift in investment spending as increased investor confidence leads to some loosening of corporate purse strings, and less drag from the inventory cycle. We believe that there is good economic momentum currently, but whether it is sustained will depend on the sequencing of events, the details of new policy, the trajectory of interest rates, the reaction of foreign governments and currency markets, and the obvious risks of a Trump presidency. The benefits from fiscal stimulus or tax reform will likely have more impact in 2018 and beyond, thus there is risk of some transitional disappointment in 2017. We acknowledge more uncertainty than usual as we try and project forward earnings for the Fund’s portfolio companies, as we consider the possibilities of trade policy, corporate tax reform (including “border adjustability”), the Affordable Care Act’s (ACA) repeal and replacement, likely continued upward pressure on the dollar, and tighter labor markets. For now we believe the Fund’s pro-cyclical positioning remains appropriate given the pro-U.S. growth priorities of the new administration, but we will need to be flexible as policy details emerge.

The Fund ended the period most overweight Information Technology, Materials, and Consumer Discretionary, and most underweight the Real Estate, Financials, and Utilities sectors, relative to the Russell 2500 Value Index.

A Word about Risk

as political and economic developments in foreign countries and regions. Value investing may go out of favor, which may cause the Fund to underperform the broader stock market.

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		10.7	%
Consumer Staples		2.3
Energy		8.7
Financials		23.7
Health Care		3.5
Industrials		12.2
Information Technology		14.5
Materials		9.5
Real Estate		7.9
Telecommunication Services		0.7
Utilities		4.9

Total		98.6	%

Short-Term Investments		1.0
Other Assets & Liabilities		0.4

Total		100.0	%


		37

Hartford Small Cap Growth HLS Fund inception 05/02/1994


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term capital appreciation.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year			5 Years			10 Years
Small Cap Growth IA		12.37	%		15.00	%		8.77	%
Small Cap Growth IB		12.08	%		14.71	%		8.49	%
Russell 2000 Growth Index		11.32	%		13.74	%		7.76	%

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. The Russell 2000 Index is a broad-based unmanaged index comprised of 2,000 of the smallest U.S.-domiciled company common stocks (on the basis of capitalization) that are traded in the United States on the New York Stock Exchange, NYSE MKT LLC and Nasdaq.

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.66% and 0.91%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.

Performance information through July 21, 2010 represents performance of the Fund’s previous additional sub-adviser, Hartford Investment Management Company (“HIMCO”). As of July 21, 2010, HIMCO no longer serves as an additional sub-adviser to the Fund.

All investments are subject to risk including the possible loss of principal. For a discussion of the Fund’s risks, please see “A Word about Risk” section in

the “Manager Discussion” section of this report. For more detailed information on the risks associated with an investment in the Fund, please see the prospectus.

Effective March 6, 2015, the Fund was closed to new investors until further notice. For more information, please see the Fund’s prospectus.


		38

Hartford Small Cap Growth HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Mammen Chally, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

David J. Elliott, CFA

Senior Managing Director, Co-Director, Quantitative Investments and Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Small Cap Growth HLS Fund returned 12.37% for the twelve-month period ended December 31, 2016, outperforming the Fund’s benchmark, the Russell 2000 Growth Index, which returned 11.32%. For the same period, the Fund outperformed the 10.64% average return of the Lipper Small-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Ten of the eleven sectors¹ in the Russell 2000 Growth Index had positive returns during the period. Materials (+32%), Energy (+31%), and Industrials (+29%) performed best, while Healthcare (-9%) lagged the broader index.

Security selection was the primary driver of the Fund’s outperformance relative to the Russell 2000 Growth Index. Selection was strongest within the Healthcare, Financials, and Consumer Discretionary sectors, and weakest within the Information Technology and Materials sectors. Sector allocation, which is a result of the Fund’s bottom-up security selection process, also contributed positively to relative results. An underweight to Healthcare and overweights to Financials and Energy contributed positively to benchmark-relative performance, while underweights to Industrials and Consumer Discretionary detracted from benchmark-relative performance.

Burlington Stores (Consumer Discretionary), TESARO (Healthcare), and RSP Permian (Energy) were top relative contributors to benchmark-relative results over the period. Burlington Stores, a U.S.-based off-price apparel retailer, saw its share price increase during the period. Though the company is called Burlington Stores, it is still known as Burlington Coat Factory (only 7% of their sales are actually coats). Many investors feared that the company would be overly exposed to the warm winter weather and the stock struggled late in 2015. Burlington Stores dispelled those fears after it reported strong fourth quarter earnings during the first quarter of 2016, which caused the stock to jump. Another top contributor to relative performance was TESARO, a U.S.-based oncology-focused biopharmaceutical company. TESARO’s stock prices surged after the company posted


		39

Hartford Small Cap Growth HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

positive Phase 3 data for their ovarian cancer drug. Shares of RSP Permian, a U.S.-based oil and gas exploration and production company, rallied as crude oil prices rebounded during the period. Top absolute contributors during the period also included WellCare Health Plans (Healthcare).

The top relative detractors from performance over the period were Acadia Healthcare (Healthcare), Portola Pharmaceuticals (Healthcare), and G-III Apparel (Consumer Discretionary). The top detractor from performance was Acadia Healthcare, an operator of U.S. inpatient behavioral and healthcare services. Acadia’s stock price declined after its acquisition of assets in the U.K. was negatively impacted by Brexit fears. Shares of Portola Pharmaceuticals, a U.S.-based biopharmaceutical company, suffered during the period after the company announced disappointing data for the Phase 3 study of their anti-coagulant Betrixaban. The share price of G-III Apparel, a manufacturer and marketer of a broad range of men’s and women’s apparel to department and specialty stores, went down as a result of questionable capital allocation. We believe they made an overpriced offer for Donna Karen (a division of LVMH) and we eliminated the Fund’s position in G-III Apparel. Novavax (Healthcare) and Ophthotech (Healthcare) were among the top detractors from absolute performance over the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

As we enter 2017, we believe the global reflation theme related to expectations around increased fiscal stimulus remains intact as we expect stronger global growth and higher inflation in 2017. Under a Trump administration, we believe there is a reasonable likelihood of corporate and individual tax reform, both of which would be good for reinvestment and consumption. We believe that Trump’s policies are likely to be inflationary and induce a stronger U.S. dollar. We expect that tax cuts will be a centerpiece of the new administration. Corporate tax cuts, including the return of foreign earnings to the U.S. at a lower tax rate, may mean a boost for corporate earnings. Several questions remain on implementation and cost. Another boost to the U.S. economy may come from deregulation in areas such as health care, financial services, and energy drilling, which would increase business confidence, lower the cost of doing business, and increase incentives to hire more workers.

However, a risk under a Trump presidency is that the U.S. may end up with trade tensions, which would be a hindrance for the U.S. economy, as well as the global economy. There is also the risk of increased geopolitical uncertainty. The reaction of the rest of the world to Trump’s policies regarding trade and other relationships remains a wild card until we see his policies unfold.

Globally, we are encouraged by data coming out of Europe and believe nominal GDP growth and earnings will pick up given the positive economic data surprises in recent months and weakness of the euro. However, we believe the French election will be a near-term risk, as will the negotiations surrounding Brexit, which will likely heat up in the first half of the year.

As a result of bottom-up stock selection, the Fund’s top overweights at the end of the period were to the Financials and Energy sectors. Real Estate and Healthcare represented the largest underweights relative to the Russell 2000 Growth Index at the end of the period.

A Word about Risk

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		15.2	%
Consumer Staples		3.0
Energy		2.1
Financials		11.6
Health Care		18.6
Industrials		16.4
Information Technology		24.3
Materials		4.0
Real Estate		3.3
Telecommunication Services		0.6
Utilities		0.1

Total		99.2	%

Short-Term Investments		1.1
Other Assets & Liabilities		(0.3	)

Total		100.0	%


		40

Hartford Small Company HLS Fund inception 08/09/1996


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
Small Company IA		2.04%		10.86%		5.83%
Small Company IB		1.81%		10.59%		5.57%
Russell 2000 Growth Index		11.32%		13.74%		7.76%

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.72% and 0.97%,

respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.

Effective June 26, 2015, the Fund was closed to new investors until further notice. For more information, please see the Fund’s prospectus.


		41

Hartford Small Company HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Steven C. Angeli, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Mammen Chally, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Small Company HLS Fund returned 2.04% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the Russell 2000 Growth Index, which returned 11.32% for the same period. The Fund also underperformed the 10.64% average return of the Lipper Small-Cap Growth Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

market continued to display healthy trends. In December, the Fed raised rates by 0.25%, a move that was anticipated by most of the market. It was only the second increase in the last decade.

Equity returns varied by market-cap during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, outperformed large-cap equities, as measured by the S&P 500 Index. Ten of the eleven sectors¹ in the Russell 2000 Growth Index had positive returns during the period. Materials (+32%), Energy (+31%), and Industrials (+29%) performed the best, while Healthcare (-9%) was the only sector that fell.

Stock selection was the main driver of underperformance relative to the Russell 2000 Growth Index, primarily due to weak selection within the Information Technology, Materials, and Industrials sectors. This was partially offset by stronger selection in the Energy sector. Sector allocation, which is the result of bottom-up stock selection, contributed positively to relative returns, primarily due to an underweight to Healthcare and an overweight to the Financials sector. This more than offset the negative impacts of underweight allocations to the Telecommunication Services and Industrials sectors.

Top detractors from returns relative to the Russell 2000 Growth Index during the period included Acadia Healthcare (Healthcare), SunPower (Information Technology), and KapStone Paper (Materials). Acadia Healthcare, an operator of U.S. inpatient behavioral and healthcare services, saw its stock price decline after its acquisition of assets in the U.K. was negatively impacted by Brexit. Shares of SunPower, a U.S.-based solar energy company that designs and manufactures crystalline silicon photovoltaic cells, roof tiles, and solar panels, fell during the period on concerns that 2017 earnings will decline as the renewal of investment tax credits late in 2015 has elongated project demand into future years. Shares of KapStone Paper, a U.S.-based producer of paper and corrugated packaging products, fell as the company faced difficult conditions from price erosion, a strong U.S. dollar, and higher than planned maintenance costs. Advisory Board (Industrials) was a top detractor from absolute performance.


		42

Hartford Small Company HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

Top contributors to performance relative to the Russell 2000 Growth Index during the period included TESARO (Healthcare), Headwaters (Materials), and United Community Bank (Financials). The stock price of TESARO, a U.S.-based oncology-focused biopharmaceutical company, rose after the company posted positive phase 3 data for their ovarian cancer drug. Headwaters, a U.S.-based producer of light building products and fly ash, saw its stock price rise as markets anticipated an increase in infrastructure spending under the new Republican controlled government. Shares of United Community Bank, a bank holding company with operations primarily in the Southeastern U.S., rose after it reported stronger than expected third quarter earnings due to higher than expected mortgage fees and loan growth. Knight Transportation (Industrials) was a top absolute contributor during the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

As we look forward into 2017, we believe tax reform, reduced regulation, increased investment spending, and revised trade rules are all likely under the Trump administration. The new Republican majority across both the Senate and House of Representatives should reduce legislative gridlock and facilitate implementation of these policies. These policies can reasonably be expected to support U.S. growth and interest rates.

While we retain conviction in the performance potential of the Fund’s existing holdings with structural growth tailwinds, we have also begun to hunt for new re-emerging growth opportunities within sectors including Financials and Industrials. Financials, where the Fund has added over the course of 2016 in anticipation of rate normalization, are likely to continue to benefit from both lower regulation and increased interest rates. Hotels are another industry that should benefit from broad economic acceleration and recently appear to have experienced a turning point in unit revenue. Finally, we believe domestically-oriented Industrials leveraged to the economic cycle are well positioned going into 2017.

As a result of our bottom-up, stock-by-stock investment decisions, the Fund ended the period most overweight the Information Technology, Financials, and Energy sectors relative to the Russell 2000 Growth Index. The Fund ended the period most underweight the Healthcare, Consumer Staples, and Materials sectors relative to the Russell 2000 Growth Index.

A Word about Risk

All investments are subject to risk, including the possible loss of principal. There is no guarantee the Fund will achieve its stated objective. The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. If the Fund’s strategy for allocating assets among different asset classes and/or portfolio management teams does not work as intended, the Fund may not achieve its objective or may underperform other funds with similar investment strategies. Small-cap securities can have greater risk and volatility than large-cap securities. Foreign investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as political and economic developments in foreign countries and regions. The Fund may have high portfolio turnover, which could increase the Fund’s transaction costs. Growth investing may go out of favor, which may cause the Fund to underperform the broader stock market.

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		14.8	%
Consumer Staples		0.4
Energy		3.2
Financials		11.0
Health Care		15.7
Industrials		16.8
Information Technology		30.1
Materials		2.8
Real Estate		3.8
Telecommunication Services		0.2

Total		98.8	%

Short-Term Investments		1.0
Other Assets & Liabilities		0.2

Total		100.0	%


		43

Hartford Small/Mid Cap Equity HLS Fund inception 05/01/1998


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
Small/Mid Cap Equity IA		16.48%		13.22%		7.34%
Small/Mid Cap Equity IB		16.33%		12.96%		7.09%
Russell 2500 Index		17.59%		14.54%		7.69%

Performance information through June 4, 2012 represents performance of the Fund’s previous sub-adviser, Hartford Investment Management Company (“HIMCO”). As of June 4, 2012, HIMCO no longer served as the sub-adviser to the Fund.

Includes the Fund’s performance when it invested, prior to February 1, 2010, at least 80% of its assets in common stocks of mid-capitalization companies.

Class IB shares commenced on March 31, 2008. Class IB shares performance prior to that date reflects Class IA shares 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 shares performance.

Russell 2500 Index measures the performance of the small to mid-cap segment of the U.S. equity universe, commonly referred to as “smid” cap. The Russell 2500 Index is a subset of the Russell 3000 Index and includes approximately 2,500 of the

smallest securities based on a combination of their market capitalization and current index membership.

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.96% and 1.21%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		44

Hartford Small/Mid Cap Equity HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Manager

David J. Elliott, CFA

Senior Managing Director, Co-Director, Quantitative Investments and Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Small/Mid Cap Equity HLS Fund returned 16.48% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the Russell 2500 Index, which returned 17.59%. For the same period, the Fund also underperformed the 20.56% average return of the Lipper Small-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Equity returns varied by market-cap during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, outperformed large-cap equities, as measured by the S&P 500 Index, though all three groups posted positive returns during the twelve-month period. Nine of the eleven sectors¹ in the Russell 2500 Index posted positive absolute returns during the period. Financials (+33%), Materials (+32%), and Energy (+29%) rose the most while Healthcare (-5%) and Real Estate (-3%) posted negative returns.

The Fund’s underperformance relative to the Russell 2500 Index was driven by weak stock selection, particularly in the Energy, Financials, and Real Estate sectors. This was partially offset by stronger selection in Information Technology and Materials. Sector allocation, a product of the Fund’s quantitative stock-selection process, contributed positively to relative returns during the period. An underweight to Real Estate and overweights to Healthcare and Energy contributed positively to performance relative to the Russell 2500 Index, more than offsetting the negative impact from the Fund’s underweight exposure to Utilities.

The largest detractors from performance relative to the Russell 2500 Index during the period were Jazz Pharmaceuticals (Healthcare), Valero Energy (Energy), and Quality Systems (Healthcare). Shares of Jazz Pharmaceuticals declined as earnings growth slowed from higher Research and Development (R&D) and administrative expenses, higher net interest expense and the impact of global supply constraints. The stock price of U.S.-based Valero Energy, an independent oil refiner, declined during the period as profit margins across the oil refining industry have tightened considerably relative to their 2015 highs. A decline in operating margins resulted in reduced year-over-year revenue and income during the first half of the year. Shares of Quality Systems slumped as the company reported disappointing earnings from continued declining sales of soft licenses and hardware. Jones Lang LaSalle (Real Estate) was among the top absolute detractors during the period.

The largest contributors to performance relative to the Russell 2500 Index during the period were Mentor Graphics (Information Technology), Endurance Specialty (Financials), and Wix.com (Information Technology). Shares of Mentor Graphics jumped as Siemens AG announced plans to acquire the automation and industrial software provider. Shares of Endurance Specialty surged


		45

Hartford Small/Mid Cap Equity HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

after Sompo Japan announced plans to acquire the U.S. insurer. Shares of Wix.com and Domino’s Pizza (Consumer Discretionary) were among the top absolute contributors to performance during the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

We seek to add value by utilizing Wellington Management’s proprietary quantitative research and investment tools in a highly disciplined framework. We focus on stock selection as the key driver of returns and use quantitative portfolio optimization techniques to seek to minimize unintended and uncompensated risks. Based on individual stock decisions, the Fund ended the period most overweight the Telecommunication Services, Healthcare and Energy sectors and most underweight the Materials, Financials and Real Estate sectors, relative to the Russell 2500 Index.

A Word about Risk

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		12.4	%
Consumer Staples		3.9
Energy		5.6
Financials		16.1
Health Care		11.3
Industrials		17.9
Information Technology		13.8
Materials		5.2
Real Estate		9.1
Telecommunication Services		0.8
Utilities		2.5

Total		98.6	%

Short-Term Investments		2.8
Other Assets & Liabilities		(1.4	)

Total		100.0	%


		46

Hartford Stock HLS Fund inception 08/31/1977


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term growth of capital.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
Stock IA		7.41%		13.19%		6.05%
Stock IB		7.14%		12.91%		5.78%
Russell 1000 Index		12.05%		14.69%		7.08%

Russell 1000 Index is an unmanaged index that measures the performance of the 1,000 largest companies in the Russell 3000 Index, which measures the performance of the 3,000 largest U.S. companies, based on total market capitalizations.

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.51% and 0.76%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.

All investments are subject to risk including the possible loss of principal. For a discussion of the Fund’s risks, please see “A Word about Risk” section in the

“Manager Discussion” section of this report. For more detailed information on the risks associated with an investment in the Fund, please see the prospectus.


		47

Hartford Stock HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Manager

Donald J. Kilbride

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Stock HLS Fund returned 7.41% for the twelve-month period ended December 31, 2016, underperforming the Russell 1000 Index, which returned 12.05% for the same period. The Fund also underperformed the 10.33% average return of the Lipper Large-Cap Core Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

U.S. equities rose over the period, as measured by the S&P 500 Index, notwithstanding significant volatility during the year. Early in the first quarter of 2016, equities plunged and moved in virtual lockstep with the price of oil as fears of a recession and weakness in China weighed on investors’ minds. However, equity markets surged in late February and March as solid economic data, a stabilization in oil prices, and accommodative commentary from the Federal Reserve (Fed) helped to calm the market’s early year jitters. A better-than-feared U.S. corporate earnings season in the second quarter and an encouraging economic backdrop helped sustain the rally. At its June meeting, the Federal Reserve (Fed) left rates unchanged and reduced its U.S. growth and long-run policy rate forecasts, citing mixed U.S. economic data and uncertainty about global economic and financial developments. After plunging in the two trading days following the approval of the U.K.’s exit from the E.U. (Brexit), U.S. equities staged an impressive comeback in the days following.

Equity returns varied by market-cap during the period, as small- and mid-cap equities, as measured by the Russell 2000 and S&P MidCap 400 Indices, outperformed large-cap equities, as measured by the S&P 500 Index. During the twelve-month period, nine of the eleven sectors¹ within the Russell 1000 Index rose, led by Energy (+27%), Telecommunication Services (+24%), and Financials (+23%). Real Estate (+6%) and Healthcare (-3%) lagged on a relative basis.

The Fund’s underperformance versus the Russell 1000 Index was primarily driven by poor security selection within Consumer Discretionary, Consumer Staples, and Financials, which was partially offset by stronger selection within Healthcare and Industrials. Sector allocation, a residual of the bottom-up stock selection process, detracted from benchmark-relative returns due primarily to overweight allocations to Consumer Staples and Healthcare and an underweight allocation to Energy. This was partially offset by an overweight to the Industrials sector, which contributed positively to performance.

Stocks that detracted the most from returns relative to the Russell 1000 Index during the period were Nike (Consumer Discretionary), Cardinal Health (Healthcare), and McKesson Corporation (Healthcare). Shares of Nike, a U.S.-based sporting apparel and equipment company, fell during the period due to a back-up of inventory that they were dealing with due to the Sports Authority bankruptcy. We believe this is a short-term issue and we added to the position. Shares of Cardinal Health, a U.S.-based distributor of pharmaceuticals, fell as investors worried about a slowdown in generic pricing. Shares of McKesson Corporation, a U.S.-based health care supply provider, also fell over the period due to concerns about drug price pressure and an increase in competitive pricing within the independent pharmacy space.

Top contributors to performance relative to the Russell 1000 Index during the period included Union Pacific (Industrials), UnitedHealth Group (Healthcare), and PNC Financial (Financials). Shares of Union Pacific, a U.S.-based freight hauling railroad, rose after the company announced stronger-than-expected earnings results and raised its outlook on the volume the company expects to transport. Shares of UnitedHealth Group, a U.S.-based health care benefits and services provider, rose during the period as the company continued to execute well and exceed consensus revenue and earnings expectations. Shares of PNC Financial, a U.S.-based diversified financial services


		48

Hartford Stock HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

company, rose following the election of Donald Trump as investors believed Trump’s incoming administration would decrease regulation in the Financials sector. United Parcel Services (Industrials) also contributed positively to performance on an absolute basis.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

We remain mindful of the global backdrop: tepid growth, heavy government indebtedness, growing geopolitical instability, and a growing absence of global economic cooperation. This can all certainly change, but we believe it’s unlikely to in a timeframe that is consistent with the markets’ highly bullish response. Indeed, we believe the only thing harder than coordinating policy in Washington D.C., is coordinating policy globally.

We remain careful, but not dogmatic. For example, we think it is likely government regulation of the financial services industry will moderate. That, combined with rising rates, should create a much more investable backdrop for our approach in the banking sector. To be clear, we have not (and will not) rush gleefully into a sector on the promise of a better day driven by government policy. But, we will be far more open to the question of investing in those companies where we see a new narrative on dividend growth.

Ultimately, our goal remains unchanged. That is, to look for investments in companies where we have high confidence in long term dividend growth. Indeed, changes in market environment are expected and perhaps inevitable. But our strategy for seeking long term wealth creation has not changed.

At the end of the period, the Fund’s bottom-up investment approach resulted in overweight exposures to Consumer Staples, Industrials, and Healthcare. The Fund’s largest underweights relative to the Russell 1000 Index were to Information Technology, Financials, and Energy.

A Word about Risk

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		13.8	%
Consumer Staples		18.0
Energy		4.1
Financials		10.7
Health Care		16.8
Industrials		16.9
Information Technology		11.2
Materials		3.4
Real Estate		3.9

Total		98.8	%

Short-Term Investments		1.6
Other Assets & Liabilities		(0.4	)

Total		100.0	%


		49

Hartford Total Return Bond HLS Fund inception 08/31/1977


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks a competitive total return, with income as a secondary objective.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
Total Return Bond IA		4.49%		3.13%		4.09%
Total Return Bond IB		4.22%		2.88%		3.83%
Bloomberg Barclays U.S. Aggregate Bond Index		2.65%		2.23%		4.34%

Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index and is composed of securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis.

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.52% and 0.77%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		50

Hartford Total Return Bond HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Joseph F. Marvan, CFA

Senior Managing Director and Fixed Income Portfolio Manager

Wellington Management Company LLP

Campe Goodman, CFA

Senior Managing Director and Fixed Income Portfolio Manager

Wellington Management Company LLP

Robert D. Burn, CFA

Managing Director and Fixed Income Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Total Return Bond HLS Fund returned 4.49%, for the twelve-month period ended December 31, 2016, outperforming the Fund’s benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index, which returned 2.65% for the same period. The Fund also outperformed the 3.09% average return of the Lipper Core Bond Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

Over the period, global fixed income markets were influenced by global economic growth concerns, central bank monetary policy expectations, and oil prices. Early in 2016, falling oil prices, concerns over slowing growth in China, and questions about the efficacy of central bank monetary policies sparked a broad sell-off in credit markets, while government bond prices benefited from their safe-haven status. Following the lead of European central banks, the Bank of Japan introduced negative interest rates for the first time as the volatility and instability in financial markets threatened to tip Japan back into deflation. Markets reversed course in mid-February as the major central banks adopted more cautious monetary policies in an effort to ease market risk. The People’s Bank of China resumed its easing cycle with a surprise cut in the bank’s reserve-requirement ratio and the European Central Bank (ECB) announced significant easing measures. A rebound in crude oil prices, accommodative global central bank monetary policy and signs of near-term stabilization in China further supported global financial markets through the second quarter. The U.K.’s momentous vote in June to leave the E.U. (Brexit) led to a spike in global financial market volatility and a flight to safety, with U.K. and European equity and credit markets bearing the brunt of the sell-off.

interest rate increases, setting up for a December rate increase. Global government bond yields moved sharply higher in the fourth quarter, particularly following the U.S. presidential election results as President-elect Trump’s proposed expansionary fiscal policy lifted inflation expectations. In December, the Fed increased rates for only the second time in ten years. While markets had largely anticipated the decision, the Fed’s post-meeting statement and press conference leaned more toward an aggressive interest rate policy than expected.

Developed markets’ government bond prices largely gained outside the U.S. over the period, as global uncertainties kept central banks in easing mode for most of the year. In the U.S., the yield curve flattened; front-end yields, which were heavily influenced by Fed monetary policy expectations, rose more than yields on intermediate- and long-term bonds. The U.S. dollar ended higher against a broad basket of currencies over the period, particularly following the U.S. presidential election results and Fed rate increase decision. Emerging market currencies also weakened significantly against the dollar following Trump’s election victory over concerns about potential U.S. trade protectionism. Meanwhile, the U.K. pound depreciated in the aftermath of Brexit.

Absolute returns in the major fixed income credit risk sectors were positive during the twelve-month period, aided by the decline in government bond yields outside the U.S. In the U.S., interest income helped offset the impact of higher Treasury yields. On an excess return basis, most credit risk sectors, including high yield, emerging markets debt, and investment grade corporates posted positive returns over the period as credit spreads tightened during the year. However, this performance masked considerable volatility in credit risk sector returns, including a drawdown in many credit risk sectors in the first part of 2016 and immediately following the Brexit referendum.

The primary driver of the Fund’s outperformance versus the benchmark was the Fund’s out-of-benchmark allocation to bank loans, in particular in the Industrials sector. Investment grade credit


		51

Hartford Total Return Bond HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

positioning, in particular security selection within Energy and Financials, also contributed positively to outperformance. The Fund’s allocations to non-agency mortgage backed securities (MBS), commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs) were also additive throughout the year. The Fund’s long inflation position benefited relative performance, including positions initiated through Consumer Price Index (CPI) swaps. An allocation to high yield credit was additive, though the strong contribution from holding high yield bonds was somewhat offset by the portfolio’s credit hedges that were implemented through index credit default swaps (CDX). The Fund’s tactical yield curve and duration positions had an overall positive contribution to performance for the year.

What is the outlook?

We continue to position the Fund with a moderately pro-cyclical risk posture in credit markets. U.S. economic growth remains positive, monetary policy is still accommodative, and we believe valuations are attractive. The Fund is positioned for an increase in inflation expectations as we continue to believe capacity constraints will pressure inflation higher. The Fund ended the period with neutral exposure to investment grade credit and continued to favor Financials. The Fund maintained an overweight to agency MBS pass-throughs and continued to hold an out-of-benchmark allocation to non-agency residential MBS (RMBS). The Fund also held high quality CMBS and CLOs based on what we consider to be attractive valuations. Within high yield, we continued to favor BB-rated securities, bank loans, and hold contingent convertibles (CoCo’s) of large European banks. We also believe that emerging market (EM) relative value has improved and we have been opportunistically adding EM exposure.

A Word about Risk

All investments are subject to risk, including the possible loss of principal. There is no guarantee the Fund will achieve its stated objective. The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. Fixed Income risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall; these risks are currently heightened due to the historically low interest rate environment. Investments in high-yield (“junk”) bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. Obligations of U.S. Government agencies are supported by varying degrees of credit but are generally not backed by the full faith and credit of the U.S. Government. Mortgage- and asset-backed securities’ risks include credit, interest-rate, prepayment, and extension risk. The Fund may purchase securities in the To-Be-Announced (TBA) market, which can subject the Fund to additional price and counterparty risk. Derivatives may be riskier or more volatile than other types of investments because they are generally more sensitive to changes in market or economic conditions; risks include currency, leverage, liquidity, index, pricing, and counterparty risk. The Fund has the

ability to invest in foreign, emerging-market, and high-yield (“junk”) bonds. Investments in these securities generally involve greater risk, volatility, and possibility of loss. Privately placed, restricted (Rule 144A) securities may be more difficult to sell and value than publicly traded securities, thus they may be potentially illiquid. The Fund may have high portfolio turnover, which could increase the Fund’s transaction costs.

Composition by Security Type

as of December 31, 2016


Category	Percentage of Net Assets
Fixed Income Securities
Asset & Commercial Mortgage Backed Securities		30.0	%
Corporate Bonds		33.7
Foreign Government Obligations		4.1
Municipal Bonds		1.3
Senior Floating Rate Interests		5.1
U.S. Government Agencies		44.0
U.S. Government Securities		4.4

Total		122.6	%

Equity Securities
Common Stocks		0.0	%
Preferred Stocks		0.1

Total		0.1	%

Short-Term Investments		6.7
Purchased Options		0.0
Other Assets & Liabilities		(29.4	)

Total		100.0	%


		52

Hartford Ultrashort Bond HLS Fund inception 08/31/1977


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks total return and income consistent with preserving capital and maintaining liquidity.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		Since Inception¹
Ultrashort Bond IA		0.97%		0.37%
Ultrashort Bond IB		0.64%		0.11%
Bloomberg Barclays 9-12 Month U.S. Treasury Index		1.03%		0.50%

¹	On October 21, 2013, the Fund converted from a money market fund to an ultrashort bond fund. Total returns shown are from conversion date (October 21, 2013) to December 31, 2016.

Prior to October 21, 2013, the Fund was managed as a money market fund. Accordingly, performance of the Fund prior to October 21, 2013 is not shown. Past performance information for when the Fund was managed as a money market fund is available upon request by calling 1-888-843-7824.

Bloomberg Barclays 9-12 Month U.S. Treasury Index measures the performance of U.S. Treasury securities that have a remaining maturity between one and twelve months.

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.43% and 0.68%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.


		53

Hartford Ultrashort Bond HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Manager

Timothy E. Smith

Senior Managing Director and Fixed Income Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Ultrashort Bond HLS Fund returned 0.97%, for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the Bloomberg Barclays 9-12 Month U.S. Treasury Index, which returned 1.03% for the same period. The Fund underperformed the average return of the Lipper Short Investment Grade Debt Funds peer group 1.97%, a group of funds that invest primarily in investment grade issues with dollar-weighted average maturities of one to five years.

Why did the Fund perform this way?

Over the period, global fixed income markets were influenced by global economic growth concerns, central bank monetary policy expectations, and oil prices. Early in 2016, falling oil prices, concerns over slowing growth in China, and questions about the efficacy of central bank monetary policies sparked a broad sell-off in credit markets, while government bond prices benefited from their safe-haven status. Following the lead of European central banks, the Bank of Japan introduced negative interest rates for the first time as the volatility and instability in financial markets threatened to tip Japan back into deflation. Markets reversed course in mid-February as the major central banks adopted more cautious monetary policies in an effort to ease market risk. The People’s Bank of China resumed its easing cycle with a surprise cut in the bank’s reserve-requirement ratio and the European Central Bank (ECB) announced significant easing measures. A rebound in crude oil prices, accommodative global central bank monetary policy and signs of near-term stabilization in China further supported global financial markets through the second quarter. The U.K.’s momentous vote in June to leave the E.U. (Brexit) led to a spike in global financial market volatility and a flight to safety, with U.K. and European equity and credit markets bearing the brunt of the sell-off.

Policy paths of major central banks appeared to diverge in the third quarter as the Bank of England unveiled a stimulus package designed to prevent a recession following the Brexit vote while the ECB kept its stimulus program unchanged and avoided making a firm commitment to further expand its bond-buying program. In the U.S., the Federal Reserve (Fed) rhetoric turned more focused on interest rate increases, setting up for a December rate increase. Global government bond yields moved sharply higher in the fourth quarter, particularly following the U.S presidential election results as President-elect Trump’s proposed expansionary fiscal policy lifted inflation expectations. In December, the Fed increased rates for only the second time in ten years. While markets had largely anticipated

the decision, the Fed’s post-meeting statement and press conference leaned more toward an aggressive interest rate policy than expected.

Developed markets’ government bond prices largely gained outside the U.S. over the period, as global uncertainties kept central banks in easing mode for most of the year. In the U.S., the yield curve flattened; front-end yields, which were heavily influenced by Fed monetary policy expectations, rose more than intermediate- and long-term yields. The U.S. dollar ended higher against a broad basket of currencies over the period, particularly following the U.S. election results and Fed rate increase decision. Emerging market currencies also weakened significantly against the dollar following Trump’s election victory over concerns about potential U.S. trade protectionism. Meanwhile, the U.K. pound depreciated in the aftermath of Brexit.

Absolute returns in the major fixed income credit risk sectors were positive during the twelve-month period, aided by the decline in government bond yields outside the U.S. In the U.S., interest income helped offset the impact of higher Treasury yields. On an excess return basis, most credit risk sectors posted positive returns over the period, including high yield, emerging markets debt, and investment grade corporates, as credit spreads tightened during the year. However, this performance masked considerable volatility in credit risk sector returns, including a drawdown in many credit risk sectors in the first part of 2016 and immediately following the Brexit referendum.

The Fund underperformed the Bloomberg Barclays 9-12 Month U.S. Treasury Index, primarily due to out-of-benchmark allocations to investment grade corporate credit, particularly within Industrials and Financial Institutions, and Asset Backed Securities (ABS), specifically within auto and credit card ABS. The Fund’s allocation to commercial mortgage-backed securities (CMBS) also contributed positively during the year. Duration and yield curve positioning detracted from benchmark relative performance during the period.

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

We are positioned with a moderately pro-cyclical risk posture, favoring the credit and securitized sectors. Our view is based on expectations of steady U.S. economic growth, but we believe the range of outcomes is wider than normal given policy uncertainty


		54

Hartford Ultrashort Bond HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

under the new, incoming administration. Higher infrastructure and defense spending, tax cuts, and a rising deficit all point to higher growth and inflation in the coming years. However, the impact on growth could be mitigated by trade restrictions and protectionist policies. We believe core inflation should remain stable with domestic factors posing upside potential and external factors posing downside risk.

We believe the Fed will likely continue its gradual tightening trajectory, but with an awareness to both the potential inflationary impact of fiscal stimulus when the U.S. is at full employment and the risks to global growth from protectionist policies. Our expectations for steady U.S. economic growth and a continued moderate rise in inflation appears to support the case for an additional Fed rate increase in 2017. As a result, the Fund is positioned with a short duration bias, relative to the Bloomberg Barclays 9-12 Month U.S. Treasury Index.

The Fund continued to be positioned with out-of-benchmark allocations to investment grade corporates and ABS at the end of 2016. Within investment grade corporates, we favor U.S. banks, as higher interest rates should benefit net interest margins going forward, and the possibility of some regulatory relief under the new U.S. administration would also be supportive. Within ABS, we favor auto, credit card and student loans. We also continued to hold government agency debt based on what we consider to be their attractive valuations versus U.S. Treasuries.

A Word about Risk

All investments are subject to risk, including the possible loss of principal. There is no guarantee the Fund will achieve its stated objective. The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. Fixed Income risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall; these risks are currently heightened due to the historically low interest rate environment. Mortgage- and asset-backed securities’ risks include credit, interest-rate, prepayment, and extension risk. Obligations of U.S. Government agencies are supported by varying degrees of credit but are generally not backed by the full faith and credit of the U.S. Government. Mortgage- and asset-backed securities’ risks include credit, interest-rate, prepayment, and extension risk. Derivatives may be riskier or more volatile than other types of investments because they are generally more sensitive to changes in market or economic conditions; risks include currency, leverage, liquidity, index, pricing, and counterparty risk. The Fund may use repurchase agreements, which can increase risk and volatility. Privately placed, restricted (Rule 144A) securities may be more difficult to sell and value than publicly traded securities, thus they may be potentially illiquid.

Composition by Security Type

as of December 31, 2016


Category	Percentage of Net Assets
Fixed Income Securities
Asset & Commercial Mortgage Backed Securities		23.8	%
Corporate Bonds		45.1
Foreign Government Obligations		0.5
Municipal Bonds		0.3
U.S. Government Agencies		13.5
U.S. Government Securities		16.0

Total		99.2	%

Short-Term Investments		0.7
Other Assets & Liabilities		0.1

Total		100.0	%


		55

Hartford U.S. Government Securities HLS Fund inception 03/24/1987


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks to maximize total return while providing shareholders with a high level of current income consistent with prudent investment risk.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year		5 Years		10 Years
U.S. Government Securities IA		1.54%		1.57%		2.35%
U.S. Government Securities IB		1.27%		1.32%		2.10%
Bloomberg Barclays Intermediate Government Bond Index		1.05%		1.04%		3.42%

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

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.


		56

Hartford U.S. Government Securities HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Manager

Michael F. Garrett

Senior Managing Director and Fixed Income Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford U.S. Government Securities HLS Fund returned 1.54%, for the twelve-month period ended December 31, 2016, outperforming the Fund’s benchmark, the Bloomberg Barclays Intermediate Government Bond Index, which returned 1.05% for the same period. The Fund outperformed the 1.08% average return of the Lipper Intermediate U.S. Government Funds peer group, a group of funds that invest primarily in U.S. government and agency issues.

Why did the Fund perform this way?

Over the period, global fixed income markets were influenced by global economic growth concerns, central bank monetary policy expectations, and oil prices. Early in 2016, falling oil prices, concerns over slowing growth in China, and questions about the efficacy of central bank monetary policies sparked a broad sell-off in credit markets, while government bond prices benefited from their safe-haven status. Following the lead of European central banks, the Bank of Japan (BOJ) introduced negative interest rates for the first time as the volatility and instability in financial markets threatened to tip Japan back into deflation. Markets reversed course in mid-February as the major central banks adopted more cautious monetary policies in an effort to ease market risk. The People’s Bank of China resumed its easing cycle with a surprise cut in the bank’s reserve-requirement ratio and the European Central Bank (ECB) announced significant easing measures. A rebound in crude oil prices, accommodative global central bank monetary policy and signs of near-term stabilization in China further supported global financial markets through the second quarter. The U.K.’s momentous vote in June to leave the E.U. (Brexit) led to a spike in global financial market volatility and a flight to safety, with U.K. and European equity and credit markets bearing the brunt of the sell-off.

Policy paths of major central banks appeared to diverge in the third quarter as the Bank of England unveiled a stimulus package designed to prevent a recession following the Brexit vote while the ECB kept its stimulus program unchanged and avoided making a firm commitment to further expand its bond-buying program. In the U.S., the Federal Reserve (Fed) rhetoric turned more focused on interest rate increases, setting up for a December rate increase. Global government bond yields moved sharply higher in the fourth quarter, particularly following the U.S. presidential election results as President-elect Trump’s proposed expansionary fiscal policy lifted inflation expectations. In December, the Fed increased rates for only the second time in ten years. While markets had largely anticipated

the decision, the Fed’s post-meeting statement and press conference leaned more toward an aggressive interest rate policy than expected.

Developed markets’ government bond prices largely gained outside the U.S. over the period, as global uncertainties kept central banks in easing mode for most of the year. In the U.S., the yield curve flattened; front-end yields, which were heavily influenced by Fed monetary policy expectations, rose more than intermediate- and long-term yields. The U.S. dollar ended higher against a broad basket of currencies over the period, particularly following the U.S. election results and Fed rate increase decision. Emerging market currencies also weakened significantly against the dollar following Trump’s election victory over concerns about potential U.S. trade protectionism. Meanwhile, the U.K. pound depreciated in the aftermath of Brexit.

Absolute returns in the major fixed income credit risk sectors were positive during the twelve-month period, aided by the decline in government bond yields outside the U.S. In the U.S., interest income helped offset the impact of higher Treasury yields. On an excess return basis, most credit risk sectors, including high yield, emerging markets debt, and investment grade corporates posted positive returns over the period, as credit spreads tightened during the year. However, this masked considerable volatility in credit risk sector returns, including a drawdown in many credit risk sectors in the first part of 2016 and immediately following the Brexit referendum.

Out-of-benchmark allocations to agency mortgage-backed securities (MBS), asset-backed securities (ABS), non-agency residential mortgage-backed securities (RMBS), and commercial mortgage-backed securities (CMBS) were the main drivers of outperformance relative to the Bloomberg Barclays Intermediate Government Bond Index over the period. Within agency MBS, allocations to agency pass-throughs, Delegated Underwriting Servicing bonds (DUS), and agency collateralized mortgage obligations (CMOs) contributed positively to the Fund’s relative outperformance over the period. In addition, an allocation to 30 year conventional mortgages also contributed positively. An allocation to U.S. Treasury Inflation-Protected Securities (TIPS) also contributed positively as inflation expectations rose. Conversely, exposure to equipment leases in ABS modestly detracted from benchmark-relative returns over the period.

During the period, the Fund used Treasury futures and interest rate swaps to manage duration and yield curve exposures; overall these derivative instruments had a positive impact on absolute performance over the period.


		57

Hartford U.S. Government Securities HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

What is the outlook?

We are neutral on agency MBS spreads in the near term. Following the surprise U.S. presidential election result and new expectations of fiscal stimulus, markets (rates, equity, credit) seem to be pricing in bullish outcomes. We believe many risks remain, however, including continued uncertainty about global central bank policy, the ability of the economy to deliver on growth expectations, future Fed chair appointment uncertainty, reexamination of reform of Government Sponsored Entities, and possible adjustments to the Fed’s purchase program exit strategy. Current MBS spreads do not seem to compensate investors for all the uncertainty. Still, fundamental factors are supportive, so we view current MBS spreads within a reasonable valuation range given the environment.

Over the intermediate term, we are concerned about MBS. Pro-growth policies at a time when the U.S. economy is close to full employment may lead to a further rise in inflation. Higher inflation will likely lead to a faster pace of interest rate increases and therefore, may bring forward conversations at the Fed about paring reinvestment of MBS paydowns. We would expect this to be accompanied by additional MBS spread widening. We believe such widening may come sooner than anticipated, implying less time to earn carry to offset the eventual widening.

Over the longer term, we still expect MBS spreads to remain toward the tight end of their range relative to long-term history given their favorable supply relative to U.S. Treasuries, the reduced leverage prevalent in the system, a shift in the MBS buyer-base to long term investors, a constrained mortgage credit environment, and lower refinancing risk.

We have a constructive outlook on most non-agency RMBS, given the continuing recovery of the U.S. housing market supporting credit and the positive technical tailwinds. Given the recent spread tightening, we believe near term return potential is primarily driven by income, especially in the pre-2008 non-agency RMBS and Agency credit risk transfer sectors where spreads tightened significantly in 2016. We think securitizations in non-traditional sectors, such as, non- and re-performing loans and re-securitizations are also attractive opportunities to provide financing on assets historically financed on bank balance sheets.

Our longer term CMBS outlook is constructive due to what we consider favorable commercial real estate (CRE) fundamentals and attractive valuations, both outright and relative to other credit risk sectors. However, given pockets of structural weakness such as retail, we believe investors will need to be judicious in their credit analysis and security selection. We believe that a functional CMBS market post the upcoming risk-retention regulations, alongside capital available from banks and insurance companies, will be important in refinancing the upcoming wave of securities expected to mature at the same time estimated between $8-12 billion through much of 2017. The impact of rising U.S. rates on property valuations and the

reaction of foreign demand to a strong U.S. Dollar are two risks we are watching closely in 2017. We favor up-in-quality new issues, seasoned (2010 – 2013) credit bonds, select single-borrower deals, and certain interest-only (IO) bonds.

We are constructive on ABS driven by what appear to be strong consumer fundamentals, balanced somewhat by the later stage of the cycle. Within consumer ABS, we favor senior and subordinate bonds of select subprime auto issuers. We remain confident in the sector but are becoming marginally more cautious on specific issues. We see opportunity in niche subsectors, including unsecured consumer loans, fleet lease deals, and select credit tranches.

A Word about Risk

All investments are subject to risk, including the possible loss of principal. There is no guarantee the Fund will achieve its stated objective. The Fund’s share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. Fixed Income risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall; these risks are currently heightened due to the historically low interest rate environment. The purchase of securities in the To-Be-Announced (TBA) market can result in additional price and counterparty risk. Mortgage- and asset-backed securities’ risks include credit, interest-rate, prepayment, and extension risk. Derivatives may be riskier or more volatile than other types of investments because they are generally more sensitive to changes in market or economic conditions; risks include currency, leverage, liquidity, index, pricing, and counterparty risk. Obligations of U.S. Government agencies are supported by varying degrees of credit but are generally not backed by the full faith and credit of the U.S. Government. Privately placed, restricted (Rule 144A) securities may be more difficult to sell and value than publicly traded securities, thus they may be potentially illiquid. The Fund may have high portfolio turnover, which could increase the Fund’s transaction costs.

Composition by Security Type

as of December 31, 2016


Category	Percentage of Net Assets
Fixed Income Securities
Asset & Commercial Mortgage Backed Securities		18.3	%
U.S. Government Agencies		72.9
U.S. Government Securities		25.2

Total		116.4	%

Short-Term Investments		6.1
Other Assets & Liabilities		(22.5	)

Total		100.0	%


		58

Hartford Value HLS Fund inception 04/30/2001


(sub-advised by Wellington Management Company LLP)		Investment objective – The Fund seeks long-term total return.

LOGO

Average Annual Total Return (as of 12/31/16)


	1 Year			5 Years			10 Years
Value IA		13.69	%		13.63	%		6.65	%
Value IB		13.46	%		13.35	%		6.39	%
Russell 1000 Value Index		17.34	%		14.80	%		5.72	%

The index is unmanaged, and its results include reinvested dividends and/or distributions, but do not reflect the effect of sales charges, commissions, expenses or taxes.

You cannot invest directly in an index.

As shown in the Fund’s current prospectus dated May 1, 2016, the total annual fund operating expense ratios for Class IA and Class IB were 0.78% and 1.03%, respectively. Actual expenses may be higher. Please see the accompanying Financial Highlights for expense ratios for the year ended December 31, 2016.

All investments are subject to risk including the possible loss of principal. For a discussion of the Fund’s risks, please see “A Word about Risk” section in

the “Manager Discussion” section of this report. For more detailed information on the risks associated with an investment in the Fund, please see the prospectus.


		59

Hartford Value HLS Fund

Manager Discussion

December 31, 2016 (Unaudited)

Portfolio Managers

Karen H. Grimes, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

W. Michael Reckmeyer, III, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

Ian R. Link, CFA

Senior Managing Director and Equity Portfolio Manager

Wellington Management Company LLP

How did the Fund perform during the period?

The Class IA shares of Hartford Value HLS Fund returned 13.69% for the twelve-month period ended December 31, 2016, underperforming the Fund’s benchmark, the Russell 1000 Value Index, which returned 17.34% for the same period. The Fund underperformed the 14.95% average return of the Lipper Large Cap Value Funds peer group, a group of funds with investment strategies similar to those of the Fund.

Why did the Fund perform this way?

increased fiscal stimulus, reduced regulatory restrictions, and lower corporate taxes. Economic data released during the fourth quarter was generally encouraging, as third quarter gross domestic product (GDP) growth was revised slightly higher and the U.S. housing market continued to display healthy trends. In December, the Fed raised rates by 0.25%, a move that was anticipated by most of the market. It was only the second increase in the last decade.

During the twelve-month period, ten of the eleven sectors¹ within the Russell 1000 Value Index rose, led by Materials (+31%), Energy (+27%), and Telecommunication Services (+25%). Real estate (-5%) lagged on a relative basis.

The Fund’s underperformance versus its benchmark, the Russell 1000 Value Index, during the period was primarily driven by security selection within the Financials, Industrials, and Healthcare sectors. This was partially offset by positive stock selection in the Energy sector. Sector allocation, a residual of the bottom-up stock selection process, contributed positively to benchmark-relative results. This was largely due to a benchmark-relative underweight to the Real Estate and Financials sectors, which was only partially offset by the negative impact of an overweight to Consumer Discretionary.

The top detractors from returns relative to the Russell 1000 Value Index over the period were Norwegian Cruise Lines (Consumer Discretionary), Bristol-Myers Squibb (Healthcare), and Roche (Healthcare). Shares of Norwegian Cruise Lines, a U.S.-based international cruise operator, fell due to uncertainty regarding how Brexit will affect the travel and leisure industry, in addition to announcing poor quarterly earnings. The stock price of Bristol-Myers


		60

Hartford Value HLS Fund

Manager Discussion – (continued)

December 31, 2016 (Unaudited)

Squibb, a U.S.-based biopharmaceutical company, fell as the company’s trial for immuno-oncology drug Opdivo failed during the third quarter of 2016. Shares of Switzerland-based pharmaceutical company Roche Holdings fell as disappointing trial results for its Alzheimer and breast cancer treatments dampened investor enthusiasm and shares lagged as a result. Top absolute detractors during the period included Allergan (Healthcare) and Signet Jewelers (Consumer Discretionary).

The largest contributors to returns relative to the Russell 1000 Value Index were Halliburton (Energy), JP Morgan Chase (Financials), and UnitedHealth Group (Healthcare). Shares of Halliburton, a U.S.-based energy services provider, rose during the period as oil prices recovered and the Organization of the Petroleum Exporting Countries (OPEC) announced an agreement among members to cut oil supply. Shares of JP Morgan Chase, a U.S.-based global financial services firm, rose as equities benefited from the anticipation that the Trump administration would roll back some post-financial crisis regulations. Shares of U.S.-based health care benefits and services provider UnitedHealth Group rose as rapid growth of its technology-enabled health services segment, Optum, has boosted earnings throughout the year. Top absolute contributors during the period included Chevron (Energy).

Derivatives were not used in a significant manner in the Fund during the period and did not have a material impact on performance during the period.

What is the outlook?

We anticipate solid growth in the U.S. economy in 2017, supported by continued growth in consumer spending and an increase in investment levels. Inventories, which have been a headwind to growth over the last 5 quarters, appear to be in better balance heading into 2017, and should no longer be a meaningful drag on the economy. Decreased regulation, lower tax rates, and the potential for increased infrastructure spending should also support the economy in the coming year. On the negative side, the strong U.S. dollar and uncertainty surrounding foreign policy and global trade may weigh on growth.

Based on individual stock decisions, the Fund ended the period most overweight the Consumer Discretionary, Information Technology, and Financials sectors, and most underweight the Real Estate, Consumer Staples, and Utilities sectors, relative to the Russell 1000 Value Index.

A Word about Risk

differences in market structure and liquidity, as well as political and economic developments in foreign countries and regions. Value investing may go out of favor, which may cause the Fund to underperform the broader stock market.

Composition by Sector

as of December 31, 2016


Sector	Percentage of Net Assets
Equity Securities
Consumer Discretionary		9.2	%
Consumer Staples		5.0
Energy		12.4
Financials		29.0
Health Care		11.2
Industrials		11.9
Information Technology		12.7
Materials		2.7
Telecommunication Services		1.6
Utilities		3.4

Total		99.1	%

Short-Term Investments		1.2
Other Assets & Liabilities		(0.3	)

Total		100.0	%


		61

Hartford HLS Funds

Expense Examples (Unaudited)

Your Fund’s Expenses

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including investment management fees, distribution and/or service (12b-1) fees, if any, and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in a 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 entire period of July 1, 2016 through December 31, 2016.

Actual Expenses

The first set of columns of the table below provides information about actual account values and actual expenses. You may use this information, 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 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 set of columns of the table below provides information about hypothetical account values and hypothetical expenses based on a 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 a 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) or fees which may be applied at the variable life insurance, variable annuity, or qualified retirement plan product level. Therefore, the second set of columns 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 a Fund’s annualized expense ratios multiplied by average account value over the period, multiplied by 184/366 (to reflect the one-half year period).

Hartford Balanced HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,023.10	$	3.25	$	1,000.00	$	1,021.92	$	3.25		0.64	%		184		366
Class IB	$	1,000.00	$	1,022.00	$	4.52	$	1,000.00	$	1,020.66	$	4.52		0.89	%		184		366

Hartford Capital Appreciation HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,069.70	$	3.54	$	1,000.00	$	1,021.72	$	3.46		0.68	%		184		366
Class IB	$	1,000.00	$	1,068.50	$	4.84	$	1,000.00	$	1,020.46	$	4.72		0.93	%		184		366
Class IC	$	1,000.00	$	1,067.30	$	6.13	$	1,000.00	$	1,019.20	$	5.99		1.18	%		184		366


		62

Hartford HLS Funds

Expense Examples (Unaudited) – (continued)

Hartford Disciplined Equity HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,033.10	$	4.04	$	1,000.00	$	1,021.17	$	4.01		0.79	%		184		366
Class IB	$	1,000.00	$	1,031.50	$	5.31	$	1,000.00	$	1,019.91	$	5.28		1.04	%		184		366

Hartford Dividend and Growth HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,103.90	$	3.65	$	1,000.00	$	1,021.67	$	3.51		0.69	%		184		366
Class IB	$	1,000.00	$	1,102.30	$	4.97	$	1,000.00	$	1,020.41	$	4.77		0.94	%		184		366

Hartford Global Growth HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,024.60	$	4.17	$	1,000.00	$	1,021.01	$	4.17		0.82	%		184		366
Class IB	$	1,000.00	$	1,023.50	$	5.44	$	1,000.00	$	1,019.76	$	5.43		1.07	%		184		366

Hartford Growth Opportunities HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,012.50	$	3.29	$	1,000.00	$	1,021.87	$	3.30		0.65	%		184		366
Class IB	$	1,000.00	$	1,011.10	$	4.55	$	1,000.00	$	1,020.61	$	4.57		0.90	%		184		366
Class IC	$	1,000.00	$	1,010.10	$	5.81	$	1,000.00	$	1,019.36	$	5.84		1.15	%		184		366


		63

Hartford HLS Funds

Expense Examples (Unaudited) – (continued)

Hartford Healthcare HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	979.10	$	4.43	$	1,000.00	$	1,020.66	$	4.52		0.89	%		184		366
Class IB	$	1,000.00	$	977.90	$	5.67	$	1,000.00	$	1,019.41	$	5.79		1.14	%		184		366

Hartford High Yield HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,067.60	$	4.11	$	1,000.00	$	1,021.17	$	4.01		0.79	%		184		366
Class IB	$	1,000.00	$	1,066.70	$	5.40	$	1,000.00	$	1,019.91	$	5.28		1.04	%		184		366

Hartford International Opportunities HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,042.70	$	3.90	$	1,000.00	$	1,021.32	$	3.86		0.76	%		184		366
Class IB	$	1,000.00	$	1,041.30	$	5.18	$	1,000.00	$	1,020.06	$	5.13		1.01	%		184		366

Hartford MidCap HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,087.80	$	3.67	$	1,000.00	$	1,021.62	$	3.56		0.70	%		184		366
Class IB	$	1,000.00	$	1,086.40	$	4.98	$	1,000.00	$	1,020.36	$	4.82		0.95	%		184		366


		64

Hartford HLS Funds

Expense Examples (Unaudited) – (continued)

Hartford MidCap Value HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,117.30	$	4.58	$	1,000.00	$	1,020.81	$	4.37		0.86	%		184		366
Class IB	$	1,000.00	$	1,115.50	$	5.90	$	1,000.00	$	1,019.56	$	5.63		1.11	%		184		366

Hartford Small Cap Growth HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,132.40	$	3.48	$	1,000.00	$	1,021.87	$	3.30		0.65	%		184		366
Class IB	$	1,000.00	$	1,131.00	$	4.82	$	1,000.00	$	1,020.61	$	4.57		0.90	%		184		366

Hartford Small Company HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,089.50	$	3.99	$	1,000.00	$	1,021.32	$	3.86		0.76	%		184		366
Class IB	$	1,000.00	$	1,088.10	$	5.30	$	1,000.00	$	1,020.06	$	5.13		1.01	%		184		366

Hartford Small/Mid Cap Equity HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,154.00	$	4.98	$	1,000.00	$	1,020.51	$	4.67		0.92	%		184		366
Class IB	$	1,000.00	$	1,154.00	$	6.33	$	1,000.00	$	1,019.26	$	5.94		1.17	%		184		366


		65

Hartford HLS Funds

Expense Examples (Unaudited) – (continued)

Hartford Stock HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,017.30	$	2.64	$	1,000.00	$	1,022.52	$	2.64		0.52	%		184		366
Class IB	$	1,000.00	$	1,016.00	$	3.90	$	1,000.00	$	1,021.27	$	3.91		0.77	%		184		366

Hartford Total Return Bond HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	990.60	$	2.55	$	1,000.00	$	1,022.57	$	2.59		0.51	%		184		366
Class IB	$	1,000.00	$	989.40	$	3.80	$	1,000.00	$	1,021.32	$	3.86		0.76	%		184		366

Hartford Ultrashort Bond HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,003.60	$	2.27	$	1,000.00	$	1,022.87	$	2.29		0.45	%		184		366
Class IB	$	1,000.00	$	1,001.40	$	3.52	$	1,000.00	$	1,021.62	$	3.56		0.70	%		184		366

Hartford U.S. Government Securities HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	979.40	$	2.54	$	1,000.00	$	1,022.57	$	2.59		0.51	%		184		366
Class IB	$	1,000.00	$	978.50	$	3.78	$	1,000.00	$	1,021.32	$	3.86		0.76	%		184		366


		66

Hartford HLS Funds

Expense Examples (Unaudited) – (continued)

Hartford Value HLS Fund


	Actual Return						Hypothetical (5% return before expenses)
	Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Beginning Account Value July 1, 2016		Ending Account Value December 31, 2016		Expenses paid during the period July 1, 2016 through December 31, 2016		Annualized expense ratio			Days in the current 1/2 year		Days in the full year
Class IA	$	1,000.00	$	1,090.70	$	4.20	$	1,000.00	$	1,021.12	$	4.06		0.80	%		184		366
Class IB	$	1,000.00	$	1,089.80	$	5.52	$	1,000.00	$	1,019.86	$	5.33		1.05	%		184		366


		67

Hartford Balanced HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
Common Stocks - 62.8%
		Banks - 7.0%
	906,070	Bank of America Corp.	$	20,024,147
	548,590	Citigroup, Inc.		32,602,704
	485,870	JP Morgan Chase & Co.		41,925,722
	220,880	PNC Financial Services Group, Inc.		25,834,125
	756,140	Wells Fargo & Co.		41,670,875

				162,057,573

		Capital Goods - 4.8%
	185,530	3M Co.		33,130,092
	362,060	Eaton Corp. plc		24,290,606
	352,730	Fortune Brands Home & Security, Inc.		18,856,946
	250,760	Ingersoll-Rand plc		18,817,030
	138,640	United Technologies Corp.		15,197,717

				110,292,391

		Commercial & Professional Services - 0.5%
	297,750	Nielsen Holdings plc		12,490,613

		Consumer Durables & Apparel - 1.3%
	296,300	NIKE, Inc. Class B		15,060,929
	794,630	PulteGroup, Inc.		14,605,299

				29,666,228

		Consumer Services - 1.6%
	809,900	Hilton Worldwide Holdings, Inc.		22,029,280
	333,020	Norwegian Cruise Line Holdings Ltd.*		14,163,341

				36,192,621

		Diversified Financials - 2.2%
	45,050	BlackRock, Inc.		17,143,327
	601,400	Invesco Ltd.		18,246,476
	369,870	Thomson Reuters Corp.		16,192,909

				51,582,712

		Energy - 5.0%
	162,260	Anadarko Petroleum Corp.		11,314,390
	228,185	Chevron Corp.		26,857,374
	150,530	EOG Resources, Inc.		15,218,583
	229,230	Exxon Mobil Corp.		20,690,300
	352,070	Halliburton Co.		19,043,466
	568,460	Marathon Oil Corp.		9,840,043
	383,910	Suncor Energy, Inc.		12,550,018

				115,514,174

		Food & Staples Retailing - 0.4%
	111,830	CVS Health Corp.		8,824,505

		Food, Beverage & Tobacco - 3.6%
	105,930	Anheuser-Busch InBev N.V. ADR		11,169,259
	310,834	British American Tobacco plc		17,616,630
	182,866	Kraft Heinz Co.		15,967,859
	443,880	Mondelez International, Inc. Class A		19,677,200
	222,330	Philip Morris International, Inc.		20,340,972

				84,771,920

		Health Care Equipment & Services - 2.8%
	475,895	Medtronic plc		33,898,001
	193,860	UnitedHealth Group, Inc.		31,025,354

				64,923,355

		Insurance - 2.5%
	353,830	American International Group, Inc.		23,108,637
	358,090	Marsh & McLennan Cos., Inc.		24,203,303
	228,580	Unum Group		10,041,520

				57,353,460


Shares or Principal Amount			Market Value^†
Common Stocks - 62.8% - (continued)
		Materials - 1.7%
	393,310	Dow Chemical Co.	$	22,505,198
	305,280	International Paper Co.		16,198,157

				38,703,355

		Media - 1.9%
	362,180	CBS Corp. Class B		23,041,892
	300,590	Comcast Corp. Class A		20,755,739

				43,797,631

		Pharmaceuticals, Biotechnology & Life Sciences - 7.6%
	105,140	Allergan plc*		22,080,451
	143,330	Amgen, Inc.		20,956,279
	609,960	AstraZeneca plc ADR		16,664,107
	504,280	Bristol-Myers Squibb Co.		29,470,123
	174,400	Eisai Co., Ltd.		9,994,403
	592,930	Merck & Co., Inc.		34,905,789
	79,844	Roche Holding AG		18,200,645
	198,337	UCB S.A.		12,689,789
	153,500	Vertex Pharmaceuticals, Inc.*		11,308,345

				176,269,931

		Retailing - 2.6%
	11,702,200	Allstar Co.*^(1)(2)(3)		12,170,288
	209,290	Home Depot, Inc.		28,061,603
	570,700	Liberty Interactive Corp. QVC Group Class A*		11,402,586
	163,241	Tory Burch LLC*^(1)(2)(3)		7,713,116

				59,347,593

		Semiconductors & Semiconductor Equipment - 4.0%
	335,450	Analog Devices, Inc.		24,360,379
	907,330	Intel Corp.		32,908,859
	366,300	Maxim Integrated Products, Inc.		14,128,191
	328,760	QUALCOMM, Inc.		21,435,152

				92,832,581

		Software & Services - 5.8%
	61,075	Alphabet, Inc. Class C*		47,138,906
	299,500	Cognizant Technology Solutions Corp. Class A*		16,780,985
	512,840	eBay, Inc.*		15,226,220
	886,450	Microsoft Corp.		55,084,003

				134,230,114

		Technology Hardware & Equipment - 4.8%
	583,110	Apple, Inc.		67,535,800
	1,474,030	Cisco Systems, Inc.		44,545,187

				112,080,987

		Telecommunication Services - 0.4%
	180,690	Verizon Communications, Inc.		9,645,232

		Transportation - 0.9%
	212,500	Union Pacific Corp.		22,032,000

		Utilities - 1.4%
	282,140	NextEra Energy, Inc.		33,704,444

		Total Common Stocks (cost $1,074,514,531)	$	1,456,313,420

Asset & Commercial Mortgage Backed Securities - 3.0%
		Asset-Backed-Automobile - 0.7%
$	225,000	CarMax Auto Owner Trust 1.95%, 09/16/2019	$	226,181
	2,320,000	Chesapeake Funding II LLC 1.70%, 06/15/2028⁽¹⁾⁽⁴⁾		2,332,760

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


		68

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
Asset & Commercial Mortgage Backed Securities - 3.0% - (continued)
		Asset-Backed-Automobile - 0.7% - (continued)
$	690,722	Chesapeake Funding LLC 1.15%, 02/07/2027⁽¹⁾⁽⁴⁾	$	689,829
	465,584	Drive Auto Receivables Trust 2.12%, 06/17/2019⁽¹⁾		466,083
	422,860	Exeter Automobile Receivables Trust 1.54%, 11/15/2019⁽¹⁾		422,938
	1,311,330	First Investors Auto Owner Trust 1.67%, 11/16/2020⁽¹⁾		1,311,907
	515,000	Hyundai Automotive Receivables Trust 2.48%, 03/15/2019		520,882
	600,000	Prestige Automotive Receivables Trust 1.91%, 04/15/2020⁽¹⁾		601,308
		Santander Drive Auto Receivables Trust
	1,630,000	1.97%, 11/15/2019		1,633,420
	504,602	2.25%, 06/17/2019		506,258
	400,000	2.33%, 11/15/2019		402,000
	2,154,589	2.36%, 04/15/2020		2,163,697
	655,000	2.57%, 03/15/2019		659,911
	1,785,000	Securitized Term Auto Receivables Trust 1.52%, 03/25/2020⁽¹⁾		1,774,586
		Westlake Automobile Receivables Trust
	730,000	1.57%, 06/17/2019⁽¹⁾		730,639
	1,355,000	1.83%, 01/15/2021⁽¹⁾		1,357,101
	390,000	Wheels SPV LLC 1.59%, 05/20/2025⁽¹⁾		388,674

				16,188,174

		Asset-Backed-Credit Card - 0.4%
	2,665,000	CARDS II Trust 1.40%, 07/15/2021⁽¹⁾⁽⁴⁾		2,675,188
	3,275,000	Evergreen Credit Card Trust 1.42%, 04/15/2020⁽¹⁾⁽⁴⁾		3,289,542
	4,330,000	Trillium Credit Card Trust II 1.48%, 05/26/2021⁽¹⁾⁽⁴⁾		4,340,933

				10,305,663

		Asset-Backed-Finance & Insurance - 0.9%
		Ally Master Owner Trust
	4,885,000	1.54%, 09/15/2019		4,891,948
	4,890,000	1.60%, 10/15/2019		4,897,551
	430,000	Ford Credit Floorplan Master Owner Trust 2.09%, 03/15/2022⁽¹⁾		429,934
		MMAF Equipment Finance LLC
	1,345,000	1.39%, 12/17/2018⁽¹⁾		1,345,481
	1,000,000	2.21%, 12/15/2032⁽¹⁾		980,284
		OneMain Financial Issuance Trust
	440,000	3.66%, 02/20/2029⁽¹⁾		445,989
	870,000	4.10%, 03/20/2028⁽¹⁾		885,764
	1,565,000	SBA Tower Trust 2.90%, 10/15/2044⁽¹⁾		1,576,877
		Springleaf Funding Trust
	1,765,000	3.16%, 11/15/2024⁽¹⁾		1,778,944
	755,000	3.48%, 05/15/2028⁽¹⁾		758,014
	1,965,000	SPS Servicer Advance Receivables Trust 2.53%, 11/16/2048⁽¹⁾		1,959,919

				19,950,705

		Asset-Backed-Home Equity - 0.0%
	7,906	New Century Home Equity Loan Trust 1.34%, 03/25/2035⁽⁴⁾		7,896


Shares or Principal Amount			Market Value^†
Asset & Commercial Mortgage Backed Securities - 3.0% - (continued)
		Commercial Mortgage-Backed Securities - 0.9%
$	1,575,000	Commercial Mortgage Trust 3.18%, 02/10/2048	$	1,586,042
		CSAIL Commercial Mortgage Trust
	3,200,000	3.50%, 06/15/2057		3,276,107
	3,400,000	3.51%, 04/15/2050		3,492,189
		JP Morgan Chase Commercial Mortgage Securities Trust
	710,000	3.91%, 01/15/2049		748,391
	1,356,692	5.71%, 02/12/2049⁽⁴⁾		1,364,846
	783,472	LB-UBS Commercial Mortgage Trust 6.11%, 04/15/2041⁽⁴⁾		812,239
		Merrill Lynch/Countrywide Commercial Mortgage Trust
	2,896,919	5.73%, 06/12/2050⁽⁴⁾		2,915,415
		Morgan Stanley Bank of America Merrill Lynch Trust
	3,100,000	3.31%, 04/15/2048		3,123,043
		SFAVE Commercial Mortgage Securities Trust
	2,500,000	4.14%, 01/05/2043⁽¹⁾⁽⁴⁾		2,483,092
		SG Commercial Mortgage Securities Trust
	1,800,000	3.06%, 10/10/2048		1,746,518

				21,547,882

		Whole Loan Collateral CMO - 0.1%
		Mill City Mortgage Loan Trust
	588,690	2.50%, 04/25/2057⁽¹⁾⁽⁴⁾		586,030
		Towd Point Mortgage Trust
	1,310,763	2.25%, 08/25/2055⁽¹⁾⁽⁴⁾		1,300,220

				1,886,250

		Total Asset & Commercial Mortgage Backed Securities (cost $70,679,704)	$	69,886,570

Corporate Bonds - 19.6%
		Advertising - 0.0%
		Omnicom Group, Inc.
	1,065,000	3.60%, 04/15/2026	$	1,054,000

		Aerospace/Defense - 0.2%
	850,000	BAE Systems Holdings, Inc. 3.85%, 12/15/2025⁽¹⁾		866,895
		Lockheed Martin Corp.
	470,000	2.50%, 11/23/2020		473,972
	1,625,000	4.07%, 12/15/2042		1,603,959
	256,000	4.50%, 05/15/2036		272,174
	640,000	4.70%, 05/15/2046		696,145
	560,000	4.85%, 09/15/2041		616,282

				4,529,427

		Agriculture - 0.4%
		Altria Group, Inc.
	560,000	4.50%, 05/02/2043		569,169
	1,995,000	4.75%, 05/05/2021		2,174,147
		BAT International Finance plc
	685,000	2.75%, 06/15/2020⁽¹⁾		688,664
	2,775,000	3.25%, 06/07/2022⁽¹⁾		2,815,978
	290,000	3.50%, 06/15/2022⁽¹⁾		297,232
	1,065,000	Imperial Brands Finance plc 3.75%, 07/21/2022⁽¹⁾		1,093,298

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


		69

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Agriculture - 0.4% - (continued)
		Philip Morris International, Inc.
$	325,000	4.88%, 11/15/2043	$	349,579
	270,000	5.65%, 05/16/2018		284,578

				8,272,645

		Airlines - 0.3%
		Continental Airlines, Inc.
	3,123,418	5.98%, 10/19/2023		3,451,377
	2,331,987	Southwest Airlines Co. 6.15%, 02/01/2024		2,588,506

				6,039,883

		Auto Manufacturers - 0.4%
		Daimler Finance North America LLC
	150,000	2.25%, 07/31/2019⁽¹⁾		150,198
		Ford Motor Co.
	665,000	4.35%, 12/08/2026		671,981
		Ford Motor Credit Co. LLC
	2,985,000	2.38%, 03/12/2019		2,983,230
	1,725,000	3.16%, 08/04/2020		1,737,824
		General Motors Financial Co., Inc.
	1,400,000	3.70%, 05/09/2023		1,377,582
	1,785,000	4.20%, 03/01/2021		1,841,668
	580,000	Volkswagen Group of America Finance LLC 2.45%, 11/20/2019⁽¹⁾		578,557

				9,341,040

		Beverages - 0.5%
		Anheuser-Busch InBev Finance, Inc.
	1,750,000	3.65%, 02/01/2026		1,776,582
	2,360,000	4.70%, 02/01/2036		2,482,408
	280,000	4.90%, 02/01/2046		302,644
		Anheuser-Busch InBev Worldwide, Inc.
	480,000	3.75%, 07/15/2042		431,709
	3,205,000	7.75%, 01/15/2019		3,569,947
		Coca-Cola Femsa S.A.B. de C.V.
	1,176,000	2.38%, 11/26/2018		1,184,167
	1,300,000	3.88%, 11/26/2023		1,326,884
		Molson Coors Brewing Co.
	765,000	3.50%, 05/01/2022		787,469
	215,000	5.00%, 05/01/2042		224,751

				12,086,561

		Biotechnology - 0.2%
		Amgen, Inc.
	265,000	4.56%, 06/15/2048⁽¹⁾		256,323
		Biogen, Inc.
	1,340,000	2.90%, 09/15/2020		1,357,090
		Celgene Corp.
	230,000	2.25%, 05/15/2019		230,131
	770,000	3.55%, 08/15/2022		789,704
	535,000	3.63%, 05/15/2024		537,615
		Gilead Sciences, Inc.
	335,000	2.55%, 09/01/2020		338,531
	930,000	3.70%, 04/01/2024		954,575

				4,463,969

		Chemicals - 0.2%
		Agrium, Inc.
	2,750,000	3.15%, 10/01/2022		2,734,017
		LyondellBasell Industries N.V.
	1,145,000	4.63%, 02/26/2055		1,063,984


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Chemicals - 0.2% - (continued)
		Monsanto Co.
$	300,000	4.70%, 07/15/2064	$	270,210

				4,068,211

		Commercial Banks - 4.9%
		American Express Centurion Bank
	4,300,000	6.00%, 09/13/2017		4,432,930
		Bank of America Corp.
	1,220,000	2.63%, 10/19/2020		1,220,697
	2,950,000	4.20%, 08/26/2024		3,005,177
	1,655,000	5.00%, 05/13/2021		1,802,358
	1,000,000	6.40%, 08/28/2017		1,030,665
	6,000,000	6.88%, 04/25/2018		6,377,460
		Bank of New York Mellon Corp.
	2,020,000	2.15%, 02/24/2020		2,014,051
		Banque Federative du Credit Mutuel S.A.
	2,830,000	2.75%, 10/15/2020⁽¹⁾		2,839,520
		Barclays Bank plc
	800,000	6.05%, 12/04/2017⁽¹⁾		826,470
		Barclays plc
	2,740,000	3.20%, 08/10/2021		2,708,191
		BNP Paribas S.A.
	2,075,000	2.40%, 12/12/2018		2,091,295
		BPCE S.A.
	365,000	2.50%, 12/10/2018		368,202
	1,075,000	4.00%, 04/15/2024		1,115,864
	1,475,000	5.15%, 07/21/2024⁽¹⁾		1,499,494
		Capital One Financial Corp.
	2,875,000	3.75%, 04/24/2024		2,912,432
	815,000	4.20%, 10/29/2025		817,711
		Citigroup, Inc.
	1,220,000	2.50%, 07/29/2019		1,228,363
	533,000	5.30%, 05/06/2044		574,134
	290,000	8.13%, 07/15/2039		430,921
		Citizens Bank NA
	1,695,000	2.55%, 05/13/2021		1,684,594
		Compass Bank
	505,000	2.75%, 09/29/2019		502,251
		Credit Agricole S.A.
	950,000	2.50%, 04/15/2019⁽¹⁾		955,243
	790,000	4.38%, 03/17/2025⁽¹⁾		774,745
		Credit Suisse AG
	945,000	2.30%, 05/28/2019		947,312
	855,000	3.00%, 10/29/2021		863,170
	250,000	3.63%, 09/09/2024		251,670
		Credit Suisse Group Funding Guernsey Ltd.
	1,425,000	3.75%, 03/26/2025		1,403,343
	1,885,000	3.80%, 09/15/2022		1,901,716
		Deutsche Bank AG
	2,210,000	4.25%, 10/14/2021⁽¹⁾		2,218,522
		Goldman Sachs Group, Inc.
	3,335,000	2.38%, 01/22/2018		3,354,827
	1,700,000	6.15%, 04/01/2018		1,788,255
	2,590,000	6.25%, 02/01/2041		3,210,479
		HSBC Holdings plc
	1,030,000	3.40%, 03/08/2021		1,047,385
	4,625,000	3.60%, 05/25/2023		4,651,816
		Huntington National Bank
	2,120,000	2.20%, 11/06/2018		2,126,000
	760,000	2.20%, 04/01/2019		760,666
	1,490,000	2.40%, 04/01/2020		1,482,613

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


		70

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Commercial Banks - 4.9% - (continued)
		ING Bank N.V.
$	5,200,000	3.75%, 03/07/2017⁽¹⁾	$	5,221,991
		JP Morgan Chase & Co.
	2,240,000	3.25%, 09/23/2022		2,265,290
	2,000,000	4.95%, 03/25/2020		2,154,916
	705,000	5.40%, 01/06/2042		826,041
		Korea Development Bank
	2,600,000	2.50%, 03/11/2020		2,591,527
		Macquarie Bank Ltd.
	470,000	2.40%, 01/21/2020⁽¹⁾		465,761
		Morgan Stanley
	4,875,000	2.50%, 01/24/2019		4,926,246
	1,450,000	3.13%, 07/27/2026		1,385,295
	1,000,000	3.70%, 10/23/2024		1,011,912
	515,000	4.30%, 01/27/2045		513,233
	250,000	5.63%, 09/23/2019		270,990
		National City Corp.
	4,250,000	6.88%, 05/15/2019		4,677,911
		Santander Bank NA
	4,795,000	8.75%, 05/30/2018		5,160,791
		Santander Issuances SAU
	1,000,000	5.18%, 11/19/2025		1,009,403
		Santander UK plc
	2,200,000	2.50%, 03/14/2019		2,212,848
	2,150,000	5.00%, 11/07/2023⁽¹⁾		2,187,247
		SunTrust Bank
	640,000	3.30%, 05/15/2026		617,725
		UBS Group Funding Jersey Ltd.
	1,665,000	2.95%, 09/24/2020⁽¹⁾		1,665,734
	1,900,000	3.00%, 04/15/2021⁽¹⁾		1,901,001
		Wachovia Corp.
	1,000,000	5.75%, 06/15 /2017		1,019,045
		Wells Fargo & Co.
	4,344,000	4.48%, 01/16/2024		4,572,755
	850,000	4.75%, 12/07/2046		862,628

				114,740,832

		Commercial Services - 0.4%
		Catholic Health Initiatives
	765,000	2.60%, 08/01/2018		772,482
	1,340,000	2.95%, 11/01/2022		1,303,713
	245,000	4.35%, 11/01/2042		217,621
		ERAC USA Finance LLC
	655,000	2.35%, 10/15/2019⁽¹⁾		654,418
	340,000	2.75%, 03/15/2017⁽¹⁾		340,911
	1,800,000	4.50%, 08/16/2021⁽¹⁾		1,920,289
	1,500,000	5.63%, 03/15/2042⁽¹⁾		1,653,417
		Total System Services, Inc.
	2,545,000	3.80%, 04/01/2021		2,626,814

				9,489,665

		Construction Materials - 0.0%
		LafargeHolcim Finance US LLC
	656,000	4.75%, 09/22/2046⁽¹⁾		634,450

		Diversified Financial Services - 1.3%
		Capital One Bank USA NA
	1,655,000	2.15%, 11/21/2018		1,657,991
		CDP Financial, Inc.
	2,475,000	4.40%, 11/25/2019⁽¹⁾		2,640,362


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Diversified Financial Services - 1.2% - (continued)
		Discover Financial Services
$	3,620,000	6.45%, 06/12/2017	$	3,694,203
		Eaton Vance Corp.
	614,000	6.50%, 10/02/2017		637,105
		GE Capital International Funding Co.
	1,989,000	2.34%, 11/15/2020		1,988,051
	3,397,000	4.42%, 11/15/2035		3,559,740
		LeasePlan Corp. N.V.
	1,910,000	2.88%, 01/22/2019⁽¹⁾		1,909,396
		Postal Square L.P.
	8,963,643	8.95%, 06/15/2022		10,563,689
		Synchrony Financial
	2,045,000	2.60%, 01/15/2019		2,055,344
	520,000	2.70%, 02/03/2020		518,458
	355,000	3.00%, 08/15/2019		359,601

				29,583,940

		Electric - 1.5%
		Berkshire Hathaway Energy Co.
	1,300,000	4.50%, 02/01/2045		1,348,645
		Dominion Resources, Inc.
	725,000	2.96%, 07/01/2019		733,995
	2,850,000	3.63%, 12/01/2024		2,867,832
	1,750,000	4.10%, 04/01/2021		1,822,919
		Duke Energy Carolinas LLC
	1,200,000	6.10%, 06/01/2037		1,476,622
		Duke Energy Corp.
	855,000	2.65%, 09/01/2026		797,995
		Electricite de France S.A.
	2,375,000	5.63%, 01/22/2024^(1)(4)(5)		2,250,312
		Emera US Finance L.P.
	365,000	2.70%, 06/15/2021⁽¹⁾		361,293
		Entergy Corp.
	1,305,000	2.95%, 09/01/2026		1,220,752
		Eversource Energy
	285,000	3.15%, 01/15/2025		281,384
		Fortis, Inc.
	1,705,000	3.06%, 10/04/2026⁽¹⁾		1,594,647
		Indianapolis Power and Light Co.
	1,275,000	6.60%, 06/01/2037⁽¹⁾		1,591,223
		NextEra Energy Capital Holdings, Inc.
	4,750,000	2.06%, 09/01/2017		4,770,924
		NiSource Finance Corp.
	340,000	4.80%, 02/15/2044		357,950
		Oncor Electric Delivery Co. LLC
	385,000	2.95%, 04/01/2025		381,267
	1,185,000	4.10%, 06/01/2022		1,265,553
		Pacific Gas & Electric Co.
	695,000	3.85%, 11/15/2023		733,249
	435,000	5.13%, 11/15/2043		495,767
		SCANA Corp.
	1,046,000	4.13%, 02/01/2022		1,056,868
	305,000	4.75%, 05/15/2021		318,939
		Southern California Edison Co.
	4,000,000	5.55%, 01/15/2037		4,779,504
		Southern Co.
	1,450,000	2.75%, 06/15/2020		1,462,425
	2,050,000	2.95%, 07/01/2023		2,023,535
		State Grid Overseas Investment Ltd.
	1,795,000	2.75%, 05/07/2019⁽¹⁾		1,818,394

				35,811,994

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


		71

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Engineering & Construction - 0.1%
		SBA Tower Trust
$	1,235,000	2.88%, 07/15/2021⁽¹⁾	$	1,224,478

		Food - 0.2%
		Kraft Heinz Foods Co.
	555,000	2.25%, 06/05/2017		556,772
	2,030,000	3.50%, 07/15/2022		2,060,663
	490,000	4.38%, 06/01/2046		461,080
		Kroger Co.
	620,000	3.30%, 01/15/2021		637,067
	1,065,000	4.00%, 02/01/2024		1,111,338
		Sigma Alimentos S.A. de CV
	880,000	4.13%, 05/02/2026⁽¹⁾		836,000

				5,662,920

		Gas - 0.5%
		Atmos Energy Corp.
	5,875,000	6.35%, 06/15/2017		6,008,944
		KeySpan Gas East Corp.
	1,870,000	2.74%, 08/15/2026⁽¹⁾		1,775,260
		NiSource Finance Corp.
	2,746,000	6.40%, 03/15/2018		2,891,964

				10,676,168

		Healthcare-Products - 0.1%
		Medtronic, Inc.
	545,000	2.50%, 03/15/2020		551,099
	775,000	3.15%, 03/15/2022		793,772
	1,230,000	3.50%, 03/15/2025		1,266,549
	310,000	3.63%, 03/15/2024		322,602
	192,000	4.38%, 03/15/2035		203,122

				3,137,144

		Healthcare-Services - 0.4%
		Aetna, Inc.
	1,655,000	2.80%, 06/15/2023		1,630,190
	725,000	4.25%, 06/15/2036		726,918
		Anthem, Inc.
	421,000	3.30%, 01/15/2023		420,290
		Cigna Corp.
	2,125,000	3.25%, 04/15/2025		2,069,635
		Dignity Health
	180,000	2.64%, 11/01/2019		181,568
	380,000	3.81%, 11/01/2024		378,180
		Kaiser Foundation Hospitals
	521,000	3.50%, 04/01/2022		537,643
		Memorial Sloan-Kettering Cancer Center
	530,000	4.20%, 07/01/2055		514,238
		UnitedHealth Group, Inc.
	920,000	3.35%, 07/15/2022		947,882
	1,440,000	3.75%, 07/15/2025		1,490,737

				8,897,281

		Household Products - 0.3%
		Procter & Gamble Co.
	5,867,136	9.36%, 01/01/2021		6,785,489

		Insurance - 0.4%
		Berkshire Hathaway, Inc.
	1,445,000	2.75%, 03/15/2023		1,439,575
		Chubb INA Holdings, Inc.
	495,000	2.30%, 11/03/2020		494,887
	840,000	3.35%, 05/15/2024		855,786


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Insurance - 0.4% - (continued)
		Five Corners Funding Trust
$	200,000	4.42%, 11/15/2023⁽¹⁾	$	211,443
		Liberty Mutual Group, Inc.
	550,000	4.25%, 06/15/2023⁽¹⁾		575,836
		MetLife, Inc.
	305,000	1.90%, 12/15/2017		305,787
	2,205,000	3.60%, 04/10/2024		2,263,488
	795,000	4.88%, 11/13/2043		860,715
		Trinity Acquisition plc
	2,220,000	4.40%, 03/15/2026		2,247,204

				9,254,721

		Internet - 0.3%
		Alibaba Group Holding Ltd.
	200,000	2.50%, 11/28/2019		200,899
	1,045,000	3.60%, 11/28/2024		1,034,660
		Amazon.com, Inc.
	1,250,000	2.50%, 11/29/2022		1,236,983
	1,020,000	4.80%, 12/05/2034		1,122,673
	480,000	4.95%, 12/05/2044		547,462
		Expedia, Inc.
	2,275,000	5.00%, 02/15/2026		2,345,311

				6,487,988

		IT Services - 0.1%
		Apple, Inc.
	80,000	2.45%, 08/04/2026		75,084
	546,000	3.25%, 02/23/2026		546,290
	1,360,000	3.45%, 05/06/2024		1,400,851

				2,022,225

		Lodging - 0.2%
		Marriott International, Inc.
	2,310,000	2.30%, 01/15/2022		2,240,809
	1,900,000	2.88%, 03/01/2021		1,908,567

				4,149,376

		Machinery-Construction & Mining - 0.1%
		Caterpillar Financial Services Corp.
	1,500,000	3.30%, 06/09/2024		1,520,375
		Caterpillar, Inc.
	835,000	3.40%, 05/15/2024		859,870
	135,000	4.30%, 05/15/2044		139,986

				2,520,231

		Media - 0.8%
		21st Century Fox America, Inc.
	385,000	4.00%, 10/01/2023		397,702
	1,275,000	4.50%, 02/15/2021		1,363,153
		Charter Communications Operating LLC / Charter Communications
	645,000	6.48%, 10/23/2045		745,671
		Comcast Corp.
	2,450,000	4.40%, 08/15/2035		2,563,038
		Cox Communications, Inc.
	2,320,000	4.80%, 02/01/2035⁽¹⁾		2,161,024
		Grupo Televisa S.A.B.
	420,000	5.00%, 05/13/2045		356,408
	700,000	6.13%, 01/31/2046		694,670
		Sky plc
	1,265,000	2.63%, 09/16/2019⁽¹⁾		1,270,155
	2,386,000	3.75%, 09/16/2024⁽¹⁾		2,393,573

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


		72

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Media - 0.8% - (continued)
		Time Warner Cable, Inc.
$	4,120,000	5.85%, 05/01/2017	$	4,178,467
	395,000	6.55%, 05/01/2037		447,161
	250,000	7.30%, 07/01/2038		307,536
	480,000	8.25%, 04/01/2019		539,376
	40,000	8.75%, 02/14/2019		45,078
		Time Warner Entertainment Co., L.P.
	130,000	8.38%, 03/15/2023		163,512
		Viacom, Inc.
	835,000	3.88%, 12/15/2021		843,477

				18,470,001

		Miscellaneous Manufacturing - 0.1%
		Pentair Finance S.A.
	2,375,000	2.90%, 09/15/2018		2,402,448

		Oil & Gas - 1.4%
		Anadarko Petroleum Corp.
	1,665,000	4.85%, 03/15/2021		1,785,276
		BG Energy Capital plc
	1,200,000	4.00%, 10/15/2021⁽¹⁾		1,275,536
		BP Capital Markets plc
	655,000	2.32%, 02/13/2020		655,092
	140,000	3.99%, 09/26/2023		147,156
	2,850,000	4.75%, 03/10/2019		3,021,188
		ConocoPhillips Co.
	565,000	2.88%, 11/15/2021		569,308
	795,000	3.35%, 05/15/2025		784,479
	395,000	4.30%, 11/15/2044		392,910
	130,000	4.95%, 03/15/2026		143,520
	230,000	5.75%, 02/01/2019		247,104
	115,000	6.00%, 01/15/2020		126,999
		Devon Energy Corp.
	2,695,000	3.25%, 05/15/2022		2,677,900
		Marathon Oil Corp.
	920,000	2.70%, 06/01/2020		921,225
		Noble Energy, Inc.
	1,231,000	4.15%, 12/15/2021		1,281,086
		Petroleos Mexicanos
	40,000	5.38%, 03/13/2022⁽¹⁾		40,959
	1,590,000	5.50%, 02/04/2019⁽¹⁾		1,647,065
	2,900,000	5.50%, 01/21/2021		2,983,375
		Pioneer Natural Resources Co.
	3,540,000	7.50%, 01/15/2020		4,024,169
		Shell International Finance B.V.
	691,000	3.25%, 05/11/2025		690,433
	500,000	4.38%, 03/25/2020		534,129
	3,950,000	Sinopec Group Overseas Development Ltd. 2.50%, 04/28/2020⁽¹⁾		3,923,816
		Statoil ASA
	340,000	2.25%, 11/08/2019		342,823
	160,000	2.45%, 01/17/2023		156,181
	495,000	2.75%, 11/10/2021		499,933
	1,850,000	2.90%, 11/08/2020		1,889,773
	210,000	3.25%, 11/10/2024		212,850
	45,000	3.70%, 03/01/2024		47,101
		Suncor Energy, Inc.
	925,000	6.10%, 06/01/2018		979,330
		Total Capital International S.A.
	1,375,000	2.70%, 01/25/2023		1,360,736

				33,361,452


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Oil & Gas Services - 0.1%
		Schlumberger Holdings Corp.
$	940,000	3.00%, 12/21/2020⁽¹⁾	$	959,884
		Schlumberger Investment S.A.
	1,625,000	3.65%, 12/01/2023		1,702,152

				2,662,036

		Pharmaceuticals - 1.2%
		AbbVie, Inc.
	270,000	3.20%, 11/06/2022		270,178
		Actavis Funding SCS
	1,195,000	3.00%, 03/12/2020		1,211,566
	1,170,000	3.45%, 03/15/2022		1,187,560
	1,000,000	4.55%, 03/15/2035		989,792
	600,000	4.85%, 06/15/2044		594,899
		Bayer US Finance LLC
	260,000	2.38%, 10/08/2019⁽¹⁾		260,460
	1,215,000	3.00%, 10/08/2021⁽¹⁾		1,221,672
	395,000	3.38%, 10/08/2024⁽¹⁾		393,021
		Cardinal Health, Inc.
	990,000	2.40%, 11/15/2019		997,216
	880,000	3.50%, 11/15/2024		889,751
	1,035,000	4.50%, 11/15/2044		1,025,998
		EMD Finance LLC
	2,015,000	2.95%, 03/19/2022⁽¹⁾		2,006,454
	3,000,000	3.25%, 03/19/2025⁽¹⁾		2,932,680
	1,525,000	Express Scripts Holding Co. 2.25%, 06/15/2019		1,524,828
		Forest Laboratories LLC
	305,000	4.88%, 02/15/2021⁽¹⁾		327,657
	800,000	5.00%, 12/15/2021⁽¹⁾		864,946
		McKesson Corp.
	100,000	2.85%, 03/15/2023		97,839
	650,000	3.80%, 03/15/2024		669,936
		Merck & Co., Inc.
	1,960,000	2.75%, 02/10/2025		1,924,449
	1,640,000	2.80%, 05/18/2023		1,646,347
		Mylan N.V.
	1,925,000	3.00%, 12/15/2018⁽¹⁾		1,938,922
		Teva Pharmaceutical Finance Co. B.V.
	755,000	3.65%, 11/10/2021		764,699
		Teva Pharmaceutical Finance Netherlands III B.V.
	5,215,000	2.80%, 07/21/2023		4,936,472
	380,000	4.10%, 10/01/2046		325,608

				29,002,950

		Pipelines - 0.7%
		Columbia Pipeline Group, Inc.
	990,000	2.45%, 06/01/2018		994,838
		Energy Transfer Partners L.P.
	2,040,000	3.60%, 02/01/2023		2,006,354
	1,300,000	5.15%, 03/15/2045		1,246,804
		Enterprise Products Operating LLC
	865,000	3.95%, 02/15/2027		886,100
		Kinder Morgan Energy Partners L.P.
	1,875,000	6.95%, 01/15/2038		2,174,942
		Phillips 66 Partners L.P.
	2,425,000	3.61%, 02/15/2025		2,374,975
		Regency Energy Partners L.P.
	375,000	4.50%, 11/01/2023		380,522
	100,000	5.88%, 03/01/2022		110,006

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


		73

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Pipelines - 0.7% - (continued)
		Sunoco Logistics Partners Operations L.P.
$	610,000	3.45%, 01/15/2023	$	595,894
	1,724,000	4.40%, 04/01/2021		1,815,544
		TransCanada PipeLines Ltd.
	1,036,000	4.88%, 01/15/2026		1,151,145
		Western Gas Partners L.P.
	2,470,000	4.00%, 07/01/2022		2,510,301

				16,247,425

		Real Estate - 0.1%
		WEA Finance LLC / Westfield UK & Europe Finance plc
	480,000	1.75%, 09/15/2017⁽¹⁾		480,299
	730,000	2.70%, 09/17/2019⁽¹⁾		738,356
	1,400,000	3.25%, 10/05/2020⁽¹⁾		1,423,803

				2,642,458

		Real Estate Investment Trusts - 0.4%
		American Tower Corp.
	975,000	3.45%, 09/15/2021		987,615
	1,110,000	5.00%, 02/15/2024		1,195,097
		AvalonBay Communities, Inc.
	760,000	3.63%, 10/01/2020		789,172
		Crown Castle International Corp.
	940,000	3.70%, 06/15/2026		922,639
		HCP, Inc.
	2,960,000	4.00%, 06/01/2025		2,942,412
		Scentre Group
	1,735,000	2.38%, 11/05/2019⁽¹⁾		1,734,080

				8,571,015

		Retail - 0.5%
		AutoZone, Inc.
	900,000	3.13%, 07/15/2023		891,179
	1,908,000	3.70%, 04/15/2022		1,971,708
		CVS Health Corp.
	2,100,000	4.00%, 12/05/2023		2,212,654
	685,000	4.88%, 07/20/2035		736,670
	1,185,000	5.13%, 07/20/2045		1,320,620
		Home Depot, Inc.
	325,000	4.40%, 03/15/2045		346,351
		Lowe’s Cos., Inc.
	1,850,000	4.63%, 04/15/2020		1,982,614
		O’Reilly Automotive, Inc.
	1,435,000	3.80%, 09/01/2022		1,484,793

				10,946,589

		Savings & Loans - 0.1%
		Nationwide Building Society
	1,610,000	2.35%, 01/21/2020⁽¹⁾		1,606,168

		Software - 0.1%
		Microsoft Corp.
	1,605,000	2.40%, 08/08/2026		1,516,239
	1,230,000	3.70%, 08/08/2046		1,158,002

				2,674,241

		Telecommunications - 0.9%
		America Movil S.A.B. de C.V.
	635,000	3.13%, 07/16/2022		625,289
	390,000	6.13%, 03/30/2040		445,089


Shares or Principal Amount			Market Value^†
Corporate Bonds - 19.6% - (continued)
		Telecommunications - 0.9% - (continued)
		AT&T, Inc.
$	355,000	3.95%, 01/15/2025	$	355,615
	2,185,000	4.45%, 04/01/2024		2,277,723
	1,340,000	4.50%, 03/09/2048		1,204,088
	390,000	4.75%, 05/15/2046		369,493
		GTP Acquisition Partners I LLC
	715,000	2.35%, 06/15/2045⁽¹⁾		696,796
		Orange S.A.
	3,200,000	4.13%, 09/14/2021		3,378,928
	576,000	9.00%, 03/01/2031		866,030
		Verizon Communications, Inc.
	425,000	3.45%, 03/15/2021		438,771
	2,415,000	3.50%, 11/01/2021		2,492,700
	4,795,000	4.50%, 09/15/2020		5,131,192
	1,911,000	4.52%, 09/15/2048		1,832,481
	715,000	4.75%, 11/01/2041		706,023
	263,000	6.40%, 09/15/2033		317,313

				21,137,531

		Transportation - 0.2%
		FedEx Corp.
	845,000	4.90%, 01/15/2034		900,734
	1,435,000	5.10%, 01/15/2044		1,557,027
		Penske Truck Leasing Co. L.P. / PTL Finance Corp.
	1,685,000	3.20%, 07/15/2020⁽¹⁾		1,703,686
	1,100,000	3.38%, 02/01/2022⁽¹⁾		1,109,305

				5,270,752


		Total Corporate Bonds (cost $444,468,414)	$	455,929,704


Foreign Government Obligations - 0.3%
		Mexico - 0.1%
		Mexico Government International Bond
	1,674,000	3.50%, 01/21/2021	$	1,700,784
	1,185,000	3.60%, 01/30/2025		1,142,340
	150,000	4.75%, 03/08/2044		136,395

				2,979,519

		Saudi Arabia - 0.1%
		Saudi Government International Bond
	935,000	2.38%, 10/26/2021⁽¹⁾		907,825

		South Korea - 0.1%
		Export-Import Bank of Korea
	2,300,000	1.75%, 05/26/2019		2,291,812


		Total Foreign Government Obligations (cost $6,194,625)		6,179,156


Municipal Bonds - 1.3%
		General - 0.3%
		Chicago Transit Auth
	1,985,000	6.90%, 12/01/2040		2,494,806
		Commonwealth Financing Auth
	980,000	4.01%, 06/01/2033		956,715
	805,000	4.14%, 06/01/2038		768,485
		Kansas Dev Finance Auth
	1,345,000	4.93%, 04/15/2045		1,438,356
		New Jersey State, Economic Auth Rev
	2,400,000	3.80%, 06/15/2018		2,445,456

				8,103,818

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


		74

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
Municipal Bonds - 1.3% - (continued)
		General Obligation - 0.3%
		California State, GO Taxable
$	1,235,000	7.55%, 04/01/2039	$	1,827,368
		Chicago, IL, Metropolitan Water Reclamation GO
	685,000	5.72%, 12/01/2038		819,876
		Illinois State, GO
	1,640,000	5.10%, 06/01/2033		1,449,465
		Los Angeles, CA, USD GO
	2,200,000	5.75%, 07/01/2034		2,717,044

				6,813,753

		Higher Education - 0.1%
		University of California, Build America Bonds Rev
	1,460,000	5.77%, 05/15/2043		1,770,717

		Medical - 0.1%
		University of California, Regents MedCenter Pooled Rev
	1,935,000	6.58%, 05/15/2049		2,515,965

		Power - 0.0%
		Utility Debt Securitization Auth, New York
	485,000	3.44%, 12/15/2025		501,417

		Transportation - 0.4%
		Illinois State Toll Highway Auth, Taxable Rev
	1,875,000	6.18%, 01/01/2034		2,345,775
		Maryland State Transportation Auth
	1,050,000	5.89%, 07/01/2043		1,303,449
		New York and New Jersey PA, Taxable Rev
	685,000	4.81%, 10/15/2065		737,211
	570,000	6.04%, 12/01/2029		713,224
		North Texas Tollway Auth Rev
	2,400,000	6.72%, 01/01/2049		3,367,752

				8,467,411

		Utility-Electric - 0.1%
		Municipal Electric Auth. Georgia
	1,105,000	6.64%, 04/01/2057		1,370,432


		Total Municipal Bonds (cost $25,865,388)	$	29,543,513


U.S. Government Agencies - 0.5%
		FHLMC - 0.0%
	49,434	2.75%, 04/01/2029⁽⁴⁾	$	50,830
	37,849	4.00%, 03/01/2041		39,956

				90,786

		FNMA - 0.2%
	104,516	4.50%, 11/01/2023		112,412
	166,474	4.50%, 03/01/2038		179,094
	101,067	4.50%, 11/01/2039		108,843
	62,047	4.50%, 04/01/2040		67,174
	156,501	4.50%, 08/01/2040		168,549
	60,465	4.50%, 02/01/2041		65,132
	705,860	4.50%, 04/01/2041		761,118
	489,009	4.50%, 06/01/2041		528,056
	727,793	4.50%, 07/01/2041		786,055
	266,006	4.50%, 09/01/2041		286,776
	163,320	4.50%, 07/01/2044		175,744
	1,850,000	4.50%, 01/01/2047⁽⁶⁾⁽⁷⁾		1,989,834
	2,802	5.00%, 02/01/2019		2,868
	31,861	5.00%, 04/01/2019		32,607

				5,264,262


Shares or Principal Amount			Market Value^†
U.S. Government Agencies - 0.5% - (continued)
		GNMA - 0.3%
$	133,011	5.00%, 07/15/2037	$	146,939
	19,980	6.00%, 06/15/2024		22,652
	6,375	6.00%, 07/15/2026		7,227
	10,098	6.00%, 01/15/2028		11,447
	2,599	6.00%, 03/15/2028		2,997
	76,668	6.00%, 04/15/2028		87,028
	105,817	6.00%, 05/15/2028		119,959
	22,303	6.00%, 06/15/2028		25,283
	58,200	6.00%, 07/15/2028		65,996
	20,375	6.00%, 08/15/2028		23,100
	89,868	6.00%, 09/15/2028		101,881
	149,567	6.00%, 10/15/2028		169,598
	243,340	6.00%, 11/15/2028		276,100
	149,275	6.00%, 12/15/2028		169,299
	4,281	6.00%, 12/15/2031		4,906
	32,547	6.00%, 09/15/2032		38,604
	11,006	6.00%, 11/15/2032		12,947
	20,315	6.00%, 01/15/2033		23,040
	2,130	6.00%, 04/15/2033		2,416
	131,437	6.00%, 06/15/2033		155,475
	46,986	6.00%, 10/15/2033		54,423
	6,457	6.00%, 11/15/2033		7,417
	110,027	6.00%, 10/15/2034		126,286
	62,207	6.00%, 01/15/2035		70,548
	7,985	6.00%, 05/15/2035		9,052
	19,750	6.00%, 06/15/2035		22,782
	1,120	6.50%, 03/15/2026		1,279
	5,444	6.50%, 01/15/2028		6,219
	84,678	6.50%, 03/15/2028		96,726
	157,086	6.50%, 04/15/2028		179,431
	55,897	6.50%, 05/15/2028		63,848
	217,972	6.50%, 06/15/2028		248,982
	14,161	6.50%, 10/15/2028		16,176
	4,219	6.50%, 02/15/2035		4,819
	27,940	7.00%, 11/15/2031		32,024
	13,504	7.00%, 03/15/2032		15,515
	1,548,313	7.00%, 11/15/2032		1,853,461
	221,446	7.00%, 01/15/2033		262,167
	241,014	7.00%, 05/15/2033		284,298
	45,814	7.00%, 07/15/2033		53,228
	284,838	7.00%, 11/15/2033		335,248
	114,603	7.50%, 09/16/2035		131,468
	228	8.00%, 09/15/2026		253
	141	8.00%, 11/15/2026		157
	13,305	8.00%, 12/15/2026		15,645
	166	8.00%, 09/15/2027		175
	8,709	8.00%, 07/15/2029		10,396
	3,844	8.00%, 11/15/2029		3,859
	22,090	8.00%, 12/15/2029		23,593
	4,800	8.00%, 01/15/2030		5,041
	6,681	8.00%, 02/15/2030		6,916
	1,137	8.00%, 03/15/2030		1,161
	58,970	8.00%, 04/15/2030		59,964
	11,270	8.00%, 05/15/2030		11,680
	48,586	8.00%, 06/15/2030		51,712
	3,818	8.00%, 07/15/2030		4,210
	76,616	8.00%, 08/15/2030		79,101
	17,133	8.00%, 09/15/2030		17,713
	9,753	8.00%, 11/15/2030		10,038
	175,090	8.00%, 12/15/2030		196,623

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


		75

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
U.S. Government Agencies - 0.5% - (continued)
		GNMA - 0.3% - (continued)
$	273	8.00%, 02/15/2031	$	289
	8,037	9.00%, 06/15/2022		8,168

				5,848,985


		Total U.S. Government Agencies (cost $10,489,070)	$	11,204,033


U.S. Government Securities - 11.4%
		U.S. Treasury Securities - 11.4%
		U.S. Treasury Bonds - 4.2%
	16,163,391	2.38%, 01/15/2027⁽⁸⁾	$	18,934,620
	20,850,000	2.50%, 02/15/2045⁽⁹⁾		18,571,971
	6,600,000	2.50%, 05/15/2046		5,865,235
	10,450,800	2.88%, 05/15/2043		10,094,407
	8,995,000	3.13%, 08/15/2044		9,103,920
	4,630,000	3.38%, 05/15/2044		4,909,791
	22,000,000	4.38%, 02/15/2038		27,338,432
	1,750,000	6.00%, 02/15/2026		2,262,901

				97,081,277

		U.S. Treasury Notes - 7.2%
	15,685,000	1.25%, 03/31/2021		15,322,896
	2,025,000	1.38%, 09/30/2020		2,002,061
	5,570,000	1.38%, 01/31/2021		5,481,008
	43,220,000	1.50%, 03/31/2023		41,528,326
	37,000,000	1.63%, 07/31/2019		37,258,704
	16,835,000	1.75%, 09/30/2019		17,000,724
	4,130,000	2.00%, 02/15/2025		4,019,650
	16,670,000	2.25%, 11/15/2024		16,567,763
	11,935,000	2.38%, 08/15/2024		11,990,474
	4,550,000	2.75%, 02/15/2019		4,692,897
	7,650,000	2.75%, 11/15/2023		7,902,213
	3,390,000	2.75%, 02/15/2024		3,501,233

				167,267,949


		Total U.S. Government Securities (cost $261,170,251)	$	264,349,226


		Total Long-Term Investments (cost $1,893,381,983)	$	2,293,405,622


Short-Term Investments - 0.9%
		Other Investment Pools & Funds - 0.9%
	21,966,161	Morgan Stanley Institutional Liquidity Funds, Institutional Class	$	21,966,161


		Total Short-Term Investments (cost $21,966,161)	$	21,966,161



Total Investments (cost $1,915,348,144)^{^}	99.8	%	$	2,315,371,783
Other Assets and Liabilities	0.2	%		4,109,332

Total Net Assets	100.0	%	$	2,319,481,115

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


		76

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

Prices of foreign equities that are principally traded on certain foreign markets will generally be adjusted daily pursuant to a fair value pricing service approved by the Board of Directors in order to reflect an adjustment for factors occurring after the close of certain foreign markets but before the close of the New York Stock Exchange.

The Fund may refer to any one or more of the industry classifications used by one or more widely recognized market indices, ratings group indices and/or as defined by Fund management. Industry classifications may not be identical across all security types.

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.

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $1,928,022,134 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	439,302,328
Unrealized Depreciation		(51,952,679	)

Net Unrealized Appreciation	$	387,349,649

*	Non-income producing.

⁽¹⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $138,108,584, which represents 6.0% of total net assets.

⁽²⁾

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, as amended, 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
08/2011		11,702,200	Allstar Co.	$	5,090,681
11/2013		163,241	Tory Burch LLC		12,794,224

				$	17,884,905

At December 31, 2016, the aggregate value of these securities was $19,883,404, which represents 0.9% of total net assets.

⁽³⁾

These securities are valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of these securities was $19,883,404, which represents 0.9% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

⁽⁴⁾	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2016.

⁽⁵⁾	Perpetual maturity security. Maturity date shown is the next call date or final legal maturity date, whichever comes first.

⁽⁶⁾	Represents or includes a TBA transaction.

⁽⁷⁾	This security, or a portion of this security, was purchased on a when-issued, delayed-delivery or delayed-draw basis. The cost of this security was $1,989,039 at December 31, 2016.

⁽⁸⁾	The principal amount for this security is adjusted for inflation and the interest payments equal a fixed percentage of the inflation-adjusted principal amount.

⁽⁹⁾	This security, or a portion of this security, has been pledged as collateral in connection with futures contracts.

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


		77

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Futures Contracts Outstanding at December 31, 2016


Description	Number of Contracts		Expiration Date		Notional Amount		Market Value^†		Unrealized Appreciation/ (Depreciation)
Short position contracts:
U.S. Treasury 10-Year Note Future		129		03/22/2017	$	15,871,157	$	16,032,281	$	(161,124	)

Total futures contracts									$	(161,124	)

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:

ADR		American Depositary Receipt
CMO		Collateralized Mortgage Obligation
FHLMC		Federal Home Loan Mortgage Corp.
FNMA		Federal National Mortgage Association
GNMA		Government National Mortgage Association
TBA		To Be Announced


Municipal Abbreviations:

GO		General Obligation
PA		Port Authority
Rev		Revenue
USD		United School District

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


		78

Hartford Balanced HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total			Level 1⁽¹⁾			Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Banks	$	162,057,573		$	162,057,573		$	—	$	—
Capital Goods		110,292,391			110,292,391			—		—
Commercial & Professional Services		12,490,613			12,490,613			—		—
Consumer Durables & Apparel		29,666,228			29,666,228			—		—
Consumer Services		36,192,621			36,192,621			—		—
Diversified Financials		51,582,712			51,582,712			—		—
Energy		115,514,174			115,514,174			—		—
Food & Staples Retailing		8,824,505			8,824,505			—		—
Food, Beverage & Tobacco		84,771,920			67,155,290			17,616,630		—
Health Care Equipment & Services		64,923,355			64,923,355			—		—
Insurance		57,353,460			57,353,460			—		—
Materials		38,703,355			38,703,355			—		—
Media		43,797,631			43,797,631			—		—
Pharmaceuticals, Biotechnology & Life Sciences		176,269,931			135,385,094			40,884,837		—
Retailing		59,347,593			39,464,189			—		19,883,404
Semiconductors & Semiconductor Equipment		92,832,581			92,832,581			—		—
Software & Services		134,230,114			134,230,114			—		—
Technology Hardware & Equipment		112,080,987			112,080,987			—		—
Telecommunication Services		9,645,232			9,645,232			—		—
Transportation		22,032,000			22,032,000			—		—
Utilities		33,704,444			33,704,444			—		—
Asset & Commercial Mortgage Backed Securities		69,886,570			—			69,886,570		—
Corporate Bonds		455,929,704			—			455,929,704		—
Foreign Government Obligations		6,179,156			—			6,179,156		—
Municipal Bonds		29,543,513			—			29,543,513		—
U.S. Government Agencies		11,204,033			—			11,204,033		—
U.S. Government Securities		264,349,226			—			264,349,226		—
Short-Term Investments		21,966,161			21,966,161			—		—

Total	$	2,315,371,783		$	1,399,894,710		$	895,593,669	$	19,883,404

Liabilities
Futures Contracts⁽²⁾	$	(161,124	)	$	(161,124	)	$	—	$	—

Total	$	(161,124	)	$	(161,124	)	$	—	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

⁽²⁾	Derivative instruments (excluding purchased and written options, if applicable) are valued at the unrealized appreciation/depreciation on the investments.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks		Total
Beginning balance	$	19,755,780	$	19,755,780
Purchases		—		—
Sales		—		—
Accrued discounts/(premiums)		—		—
Total realized gain/(loss)		—		—
Net change in unrealized appreciation/depreciation		127,624		127,624
Transfers into Level 3		—		—
Transfers out of Level 3		—		—

Ending balance	$	19,883,404	$	19,883,404

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $127,624.

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


		79

Hartford Capital Appreciation HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 96.6%
		Automobiles & Components - 1.9%
	733,440	Delphi Automotive plc	$	49,397,184
	969,524	Goodyear Tire & Rubber Co.		29,929,206
	240,260	Magna International, Inc.		10,432,471
	30,978	Tesla Motors, Inc.*		6,619,689

				96,378,550

		Banks - 8.8%
	4,329,353	Banco Santander S.A.		22,522,467
	2,672,216	Bank of America Corp.		59,055,974
	142,377	BB&T Corp.		6,694,566
	2,648,611	CaixaBank S.A.		8,729,228
	1,345,555	Citigroup, Inc.		79,966,334
	1,411,126	FinecoBank Banca Fineco S.p.A.		7,889,867
	3,321,489	ICICI Bank Ltd. ADR		24,877,953
	2,258,596	Itau Unibanco Holding S.A. ADR		23,218,367
	608,771	JP Morgan Chase & Co.		52,530,850
	76,467	M&T Bank Corp.		11,961,733
	773,558	PNC Financial Services Group, Inc.		90,475,344
	2,023,400	Sberbank of Russia PJSC ADR		23,297,450
	242,200	Sumitomo Mitsui Financial Group, Inc.		9,223,693
	237,571	US Bancorp		12,204,022
	373,845	Wells Fargo & Co.		20,602,598

				453,250,446

		Capital Goods - 3.4%
	691,475	AerCap Holdings N.V.*		28,772,275
	185,664	Airbus Group SE		12,262,860
	247,835	Eaton Corp. plc		16,627,250
	210,850	Fastenal Co.		9,905,733
	49,296	General Dynamics Corp.		8,511,447
	350,600	Harry’s, Inc.*^(1)(2)(3)		4,691,028
	97,568	Honeywell International, Inc.		11,303,253
	1,651,000	Kawasaki Heavy Industries Ltd.		5,167,903
	78,076	Lockheed Martin Corp.		19,514,316
	83,986	Middleby Corp.*		10,818,237
	163,297	Owens Corning		8,419,593
	47,721	Rockwell Automation, Inc.		6,413,702
	781,530	Sanwa Holdings Corp.		7,433,110
	148,011	Siemens AG		18,122,458
	29,518	TransDigm Group, Inc.		7,348,801

				175,311,966

		Commercial & Professional Services - 1.2%
	94,936	Clean Harbors, Inc.*		5,283,188
	120,195	Equifax, Inc.		14,210,655
	222,200	Herman Miller, Inc.		7,599,240
	527,040	IHS Markit Ltd.*		18,662,486
	118,283	Nielsen Holdings plc		4,961,972
	340,900	Steelcase, Inc. Class A		6,102,110
	187,922	TransUnion*		5,812,428

				62,632,079

		Consumer Durables & Apparel - 3.2%
	39,057,860	Global Brands Group Holding Ltd.*		5,166,507
	297,562	Kate Spade & Co.*		5,555,483
	305,016	Lennar Corp. Class A		13,094,337
	161,243	Newell Brands, Inc.		7,199,500
	921,634	NIKE, Inc. Class B		46,846,656
	164,536	Pandora A/S		21,478,525
	91,169	Ralph Lauren Corp.		8,234,384
	896,500	Sony Corp.		25,049,933
	382,503	Toll Brothers, Inc.*		11,857,593


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 96.6% - (continued)
		Consumer Durables & Apparel - 3.2% - (continued)
	195,536	Under Armour, Inc. Class C*	$	4,921,641
	235,100	VF Corp.		12,542,585

				161,947,144

		Consumer Services - 1.8%
	1,183,700	Hilton Worldwide Holdings, Inc.		32,196,640
	195,274	Las Vegas Sands Corp.		10,429,584
	76,483	Marriott International, Inc. Class A		6,323,615
	74,071	Marriott Vacations Worldwide Corp.		6,284,924
	192,218	McDonald’s Corp.		23,396,775
	71,024	Panera Bread Co. Class A*		14,566,312

				93,197,850

		Diversified Financials - 3.6%
	425,808	American Express Co.		31,543,857
	242,885	Banca Generali S.p.A.		5,776,952
	55,284	BlackRock, Inc.		21,037,773
	595,630	Blackstone Group L.P.		16,099,879
	297,539	Capital One Financial Corp.		25,957,302
	213,464	Credit Suisse Group AG*		3,050,620
	54,000	Goldman Sachs Group, Inc.		12,930,300
	180,758	Intercontinental Exchange, Inc.		10,198,366
	136,776	Macquarie Group Ltd.		8,567,923
	443,960	OneMain Holdings, Inc.*		9,829,274
	204,856	Raymond James Financial, Inc.		14,190,375
	21,202	S&P Global, Inc.		2,280,063
	750,000	Saban Capital Acquisition Corp. UNIT*		7,777,500
	184,285	Synchrony Financial		6,684,017
	147,505	TD Ameritrade Holding Corp.		6,431,218
	382,441	WisdomTree Investments, Inc.		4,260,393

				186,615,812

		Energy - 5.1%
	386,838	Anadarko Petroleum Corp.		26,974,214
	229,657	Baker Hughes, Inc.		14,920,815
	495,850	Cabot Oil & Gas Corp.		11,583,056
	291,409	Canadian Natural Resources Ltd.		9,290,119
	49,942	Centennial Resource Development, Inc. PIPE*^(1)(2)(3)		889,709
	267,799	Continental Resources, Inc.*		13,802,360
	175,832	Diamondback Energy, Inc.*		17,769,582
	507,276	Eni S.p.A.		8,223,489
	77,678	EOG Resources, Inc.		7,853,246
	352,344	Halliburton Co.		19,058,287
	93,319	Helmerich & Payne, Inc.		7,222,891
	99,094	Hess Corp.		6,172,565
	380,486	HollyFrontier Corp.		12,464,721
	719,232	Kinder Morgan, Inc.		14,895,295
	628,536	Marathon Oil Corp.		10,879,958
	145,327	Newfield Exploration Co.*		5,885,744
	504,375	Petroleo Brasileiro S.A. ADR*		5,099,231
	210,572	Pioneer Natural Resources Co.		37,917,700
	3,646,446	Rosneft Oil Co. PJSC GDR		23,681,964
	185,610	Transocean Ltd.*		2,735,891
	381,270	WPX Energy, Inc.*		5,555,104

				262,875,941

		Food & Staples Retailing - 1.3%
	371,303	Costco Wholesale Corp.		59,449,324
	172,845	Seven & I Holdings Co., Ltd.		6,573,152

				66,022,476

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


		80

Hartford Capital Appreciation HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 96.6% - (continued)
		Food, Beverage & Tobacco - 2.9%
	670,395	BRF S.A. ADR	$	9,895,030
	280,937	British American Tobacco plc		15,922,207
	564,685	Coca-Cola Co.		23,411,840
	479,963	Hostess Brands, Inc.*		6,239,519
	39,212	JM Smucker Co.		5,021,489
	310,875	Molson Coors Brewing Co. Class B		30,251,246
	345,116	Mondelez International, Inc. Class A		15,298,992
	682,493	Monster Beverage Corp.*		30,261,740
	145,390	Post Holdings, Inc.*		11,687,902

				147,989,965

		Health Care Equipment & Services - 5.4%
	70,048	ABIOMED, Inc.*		7,893,009
	503,800	Acadia Healthcare Co., Inc.*		16,675,780
	69,018	Align Technology, Inc.*		6,634,700
	27,936	Becton Dickinson and Co.		4,624,805
	542,299	Boston Scientific Corp.*		11,729,927
	319,746	Cardinal Health, Inc.		23,012,120
	203,399	DENTSPLY SIRONA, Inc.		11,742,224
	95,267	DexCom, Inc.*		5,687,440
	127,410	Edwards Lifesciences Corp.*		11,938,317
	218,023	Envision Healthcare Corp.*		13,798,676
	588,870	HCA Holdings, Inc.*		43,588,158
	212,103	Hologic, Inc.*		8,509,572
	142,130	Insulet Corp.*		5,355,458
	132,400	Invuity, Inc.*		761,300
	36,847	Laboratory Corp. of America Holdings*		4,730,418
	270,345	McKesson Corp.		37,969,955
	455,319	Medtronic plc		32,432,372
	51,118	Quest Diagnostics, Inc.		4,697,744
	122,406	UnitedHealth Group, Inc.		19,589,856
	173,231	Veeva Systems, Inc. Class A*		7,050,502

				278,422,333

		Household & Personal Products - 1.4%
	114,911	Beiersdorf AG		9,733,866
	531,368	Colgate-Palmolive Co.		34,772,722
	919,770	Coty, Inc. Class A		16,840,989
	144,659	Estee Lauder Cos., Inc. Class A		11,064,967

				72,412,544

		Insurance - 6.6%
	99,685	Aflac, Inc.		6,938,076
	94,110	Allstate Corp.		6,975,433
	328,715	American International Group, Inc.		21,468,377
	62,721	Aon plc		6,995,273
	397,449	Arthur J Gallagher & Co.		20,651,450
	671,719	Assicurazioni Generali S.p.A.		9,956,458
	446,641	AXA S.A.		11,259,278
	49,298	Axis Capital Holdings Ltd.		3,217,680
	632,145	Chubb Ltd.		83,518,997
	18,311	Everest Re Group Ltd.		3,962,500
	102,636	Loews Corp.		4,806,444
	368,528	Marsh & McLennan Cos., Inc.		24,908,808
	810,868	MetLife, Inc.		43,697,677
	309,682	Principal Financial Group, Inc.		17,918,201
	235,323	Prudential Financial, Inc.		24,487,711
	29,580	Reinsurance Group of America, Inc.		3,722,051
	23,050	RenaissanceRe Holdings Ltd.		3,139,871
	357,300	Sony Financial Holdings, Inc.		5,569,743
	42,030	Tokio Marine Holdings, Inc.		1,720,836
	51,443	Torchmark Corp.		3,794,436


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 96.6% - (continued)
		Insurance - 6.6% - (continued)
	64,506	Travelers Cos., Inc.	$	7,896,825
	287,287	Unum Group		12,620,518
	207,408	XL Group Ltd.		7,728,022

				336,954,665

		Materials - 3.7%
	234,754	Anglo American plc*		3,316,800
	1,063,782	BHP Billiton plc		16,938,615
	293,464	Celanese Corp. Series A		23,107,355
	398,669	CF Industries Holdings, Inc.		12,550,100
	328,509	Dow Chemical Co.		18,797,285
	776,355	Freeport-McMoRan, Inc.*		10,240,123
	7,131,814	Glencore plc*		24,097,564
	306,305	International Paper Co.		16,252,543
	363,300	Ivanhoe Mines Ltd. Class A*		687,284
	267,141	LafargeHolcim Ltd.*		14,022,784
	353,900	Methanex Corp.		15,522,415
	396,169	Platform Specialty Products Corp.*		3,886,418
	127,058	Praxair, Inc.		14,889,927
	196,944	Reliance Steel & Aluminum Co.		15,664,926

				189,974,139

		Media - 1.4%
	172,598	John Wiley & Sons, Inc. Class A		9,406,591
	735,476	SES S.A.		16,182,523
	497,387	Sky plc		6,063,609
	96,200	Time Warner, Inc.		9,286,186
	599,789	Twenty-First Century Fox, Inc. Class A		16,818,083
	158,832	Walt Disney Co.		16,553,471
	29,800	Weinstein Co. LLC*^(1)(2)(3)		—

				74,310,463

		Pharmaceuticals, Biotechnology & Life Sciences - 8.5%
	291,422	Alkermes plc*		16,197,235
	258,353	Allergan plc*		54,256,713
	31,551	Biogen, Inc.*		8,947,233
	2,103,023	Bristol-Myers Squibb Co.		122,900,664
	196,502	Celgene Corp.*		22,745,106
	102,360	Eisai Co., Ltd.		5,865,981
	489,475	Hikma Pharmaceuticals plc		11,408,525
	181,010	Incyte Corp.*		18,149,873
	104,203	Ionis Pharmaceuticals, Inc.*		4,984,029
	591,580	Merck & Co., Inc.		34,826,315
	35,574	Mettler-Toledo International, Inc.*		14,889,853
	475,599	Mylan N.V.*		18,144,102
	607,600	Ono Pharmaceutical Co., Ltd.		13,242,409
	567,698	Pfizer, Inc.		18,438,831
	98,930	Regeneron Pharmaceuticals, Inc.*		36,316,214
	69,279	TESARO, Inc.*		9,316,640
	234,641	Teva Pharmaceutical Industries Ltd. ADR		8,505,736
	118,600	Thermo Fisher Scientific, Inc.		16,734,460

				435,869,919

		Real Estate - 2.2%
	185,304	American Tower Corp. REIT		19,582,927
	518,051	Columbia Property Trust, Inc. REIT		11,189,901
	20,254	Equinix, Inc. REIT		7,238,982
	802,226	Host Hotels & Resorts, Inc. REIT		15,113,938
	143,977	Public Storage REIT		32,178,859
	40,200	Simon Property Group, Inc. REIT		7,142,334
	422,277	STORE Capital Corp. REIT		10,434,465

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


		81

Hartford Capital Appreciation HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 96.6% - (continued)
		Real Estate - 2.2% - (continued)
	256,951	Vonovia SE	$	8,342,520

				111,223,926

		Retailing - 4.9%
	35,269	Advance Auto Parts, Inc.		5,964,693
	8,451,700	Allstar Co.*^(1)(2)(3)		8,789,768
	37,778	Amazon.com, Inc.*		28,328,589
	248,043	CarMax, Inc.*		15,971,489
	149,926	Dick’s Sporting Goods, Inc.		7,961,071
	227,551	Expedia, Inc.		25,776,977
	17,385	Honest Co.*^(1)(2)(3)		600,130
	87,800	L Brands, Inc.		5,780,752
	263,242	Lowe’s Cos., Inc.		18,721,771
	559,391	Netflix, Inc.*		69,252,606
	17,836	Priceline Group, Inc.*		26,148,646
	301,319	TJX Cos., Inc.		22,638,096
	280,504	Tory Burch LLC*^(1)(2)(3)		13,253,791
	19,292	Wayfair, Inc. Class A*		676,185

				249,864,564

		Semiconductors & Semiconductor Equipment - 2.3%
	270,631	Analog Devices, Inc.		19,653,223
	165,743	Broadcom Ltd.		29,298,390
	98,948	Cavium, Inc.*		6,178,313
	461,838	Intel Corp.		16,750,864
	377,643	Micron Technology, Inc.*		8,277,934
	111,418	Silicon Motion Technology Corp. ADR		4,733,037
	154,575	SK Hynix, Inc.		5,687,754
	245,960	Skyworks Solutions, Inc.		18,363,374
	1,376,467	SunPower Corp.*		9,098,447

				118,041,336

		Software & Services - 14.9%
	188,048	Accenture plc Class A		22,026,062
	411,469	Activision Blizzard, Inc.		14,858,146
	187,342	Adobe Systems, Inc.*		19,286,859
	230,977	Akamai Technologies, Inc.*		15,401,546
	404,854	Alibaba Group Holding Ltd. ADR*		35,550,230
	39,147	Alliance Data Systems Corp.		8,945,090
	22,108	Alphabet, Inc. Class A*		17,519,485
	108,381	Alphabet, Inc. Class C*		83,650,623
	117,204	Aspen Technology, Inc.*		6,408,715
	226,505	Autodesk, Inc.*		16,763,635
	219,676	Automatic Data Processing, Inc.		22,578,299
	1,089,362	Cadence Design Systems, Inc.*		27,473,710
	117,156	Capgemini S.A.		9,870,289
	32,555	CoStar Group, Inc.*		6,136,292
	184,967	Dropbox, Inc. Class B*^(1)(2)(3)		1,781,232
	195,967	Envestnet, Inc.*		6,907,837
	653,909	Facebook, Inc. Class A*		75,232,230
	92,295	FleetCor Technologies, Inc.*		13,061,588
	976,240	Genpact Ltd.*		23,761,682
	735,179	Global Payments, Inc.		51,028,774
	193,480	GoDaddy, Inc. Class A*		6,762,126
	97,603	IBM Corp.		16,201,122
	2,296,502	Just Eat plc*		16,501,582
	834,842	Microsoft Corp.		51,877,082
	532,364	Mobileye N.V.*		20,293,716
	36,100	Nintendo Co., Ltd.		7,504,301
	362,359	Oracle Corp.		13,932,704
	159,018	PayPal Holdings, Inc.*		6,276,440
	129,789	Salesforce.com, Inc.*		8,885,355


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 96.6% - (continued)
		Software & Services - 14.9% - (continued)
	492,738	ServiceNow, Inc.*	$	36,630,143
	157,074	SS&C Technologies Holdings, Inc.		4,492,316
	3,800	Trade Desk, Inc. Class A*		105,146
	37,790	Ultimate Software Group, Inc.*		6,891,007
	199,576	VeriSign, Inc.*		15,181,746
	297,743	Visa, Inc. Class A		23,229,909
	442,724	Workday, Inc. Class A*		29,259,629
	407,453	Zillow Group, Inc. Class A*		14,851,662
	284,047	Zillow Group, Inc. Class C*		10,359,194

				767,477,504

		Technology Hardware & Equipment - 3.6%
	193,360	Amphenol Corp. Class A		12,993,792
	107,842	Arista Networks, Inc.*		10,435,870
	1,047,918	Cisco Systems, Inc.		31,668,082
	1,916,500	Flex Ltd.*		27,540,105
	129,091	Motorola Solutions, Inc.		10,700,353
	113,416	Pure Storage, Inc. Class A*		1,282,735
	34,066	Samsung Electronics Co., Ltd.		50,700,839
	734,698	Trimble, Inc.*		22,151,145
	242,535	Western Digital Corp.		16,480,253

				183,953,174

		Telecommunication Services - 1.4%
	516,182	AT&T, Inc.		21,953,220
	179,900	Nippon Telegraph & Telephone Corp.		7,572,915
	682,671	Verizon Communications, Inc.		36,440,978
	3,646,942	Zegona Communications plc		5,446,770

				71,413,883

		Transportation - 4.7%
	182,593	Alaska Air Group, Inc.		16,201,477
	318,950	American Airlines Group, Inc.		14,891,775
	373,253	Canadian National Railway Co.		25,119,831
	472,162	CSX Corp.		16,964,781
	245,891	FedEx Corp.		45,784,904
	198,399	Genesee & Wyoming, Inc. Class A*		13,770,874
	349,511	J.B. Hunt Transport Services, Inc.		33,927,033
	170,835	Knight Transportation, Inc.		5,646,097
	96,244	Southwest Airlines Co.		4,796,801
	21,264	Swift Transportation Co.*		517,991
	266,854	Union Pacific Corp.		27,667,423
	294,373	United Parcel Service, Inc. Class B		33,746,921

				239,035,908

		Utilities - 2.4%
	117,360	American Electric Power Co., Inc.		7,388,986
	17,957,000	China Longyuan Power Group Corp. Ltd. Class H		13,953,484
	125,052	Duke Energy Corp.		9,706,536
	65,796	Entergy Corp.		4,834,032
	449,002	Exelon Corp.		15,935,081
	1,064,087	Iberdrola S.A.		6,967,518
	353,403	OGE Energy Corp.		11,821,330
	397,160	PG&E Corp.		24,135,413
	184,814	PPL Corp.		6,292,917
	141,814	Public Service Enterprise Group, Inc.		6,222,798
	85,248	Sempra Energy		8,579,359
	186,763	Southern Co.		9,186,872

				125,024,326


		Total Common Stocks (cost $4,675,369,824)	$	4,960,200,913

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


		82

Hartford Capital Appreciation HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
PREFERRED STOCKS - 1.2%
		Consumer Durables & Apparel - 0.0%
	127,917	One Kings Lane, Inc.*^(1)(2)(3)	$	133,034

		Consumer Services - 0.1%
	16,619	Airbnb, Inc. Series E*^(1)(2)(3)		1,744,995
	161,097	DraftKings, Inc. Series D*^(1)(2)(3)		639,555
	139,659	DraftKings, Inc. Series D-1*^(1)(2)(3)		729,020

				3,113,570

		Diversified Financials - 0.1%
	284,119	Social Finance, Inc.*^(1)(2)(3)		4,482,347

		Software & Services - 1.0%
	56,702	Cloudera, Inc.*^(1)(2)(3)		976,975
	29,504	Magic Leap, Inc. Series C*^(1)(2)(3)		679,566
	50,200	Nanigans, Inc.*^(1)(2)(3)		341,360
	793,410	Pinterest, Inc. Series G*^(1)(2)(3)		4,585,910
	20,891	Sharecare*^(1)(2)(3)		5,220,034
	815,160	Uber Technologies, Inc.*^(1)(2)(3)		39,757,169
	293,655	Zuora, Inc. Series F*^(1)(2)(3)		1,089,460

				52,650,474

		Telecommunication Services - 0.0%
	3,739	DocuSign, Inc. Series B*^(1)(2)(3)		60,385
	1,120	DocuSign, Inc. Series B-1*^(1)(2)(3)		18,088
	2,687	DocuSign, Inc. Series D*^(1)(2)(3)		43,395
	58,183	DocuSign, Inc. Series E*^(1)(2)(3)		939,655

				1,061,523


		Total Preferred Stocks (cost $37,533,508)	$	61,440,948


CONVERTIBLE PREFERRED STOCKS - 0.0%
		Retailing - 0.0%
	40,566	Honest Co. Series C*^(1)(2)(3)	$	1,400,338


		Total Convertible Preferred Stocks (cost $1,097,606)	$	1,400,338


		Total Long-Term Investments (cost $4,714,000,938)	$	5,023,042,199


SHORT-TERM INVESTMENTS - 2.2%
		Other Investment Pools & Funds - 2.2%
	112,629,057	BlackRock Liquidity Funds TempFund Portfolio, Institutional Class	$	112,629,057


		Total Short-Term Investments (cost $112,629,057)	$	112,629,057



Total Investments (cost $4,826,629,995)^{^}	100.0	%	$	5,135,671,256
Other Assets and Liabilities	0.0	%		(616,783	)

Total Net Assets	100.0	%	$	5,135,054,473

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


		83

Hartford Capital Appreciation HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $4,885,317,570 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	447,497,910
Unrealized Depreciation		(197,144,224	)

Net Unrealized Appreciation	$	250,353,686

*	Non-income producing.

⁽¹⁾

These securities are valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of these securities was $92,846,944, which represents 1.8% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

⁽²⁾


Period Acquired		Shares/Par		Security	Cost
	06/2015		16,619	Airbnb, Inc. Series E Preferred	$	1,547,136
	08/2011		8,451,700	Allstar Co.		3,676,649
	12/2016		49,942	Centennial Resource Development, Inc. PIPE		726,157
	02/2014		56,702	Cloudera, Inc. Preferred		825,581
	02/2014		3,739	DocuSign, Inc. Series B Preferred		49,102
	02/2014		1,120	DocuSign, Inc. Series B-1 Preferred		14,708
	02/2014		2,687	DocuSign, Inc. Series D Preferred		35,287
	02/2014		58,183	DocuSign, Inc. Series E Preferred		764,083
	07/2015		161,097	DraftKings, Inc. Series D Preferred		867,652
	08/2015		139,659	DraftKings, Inc. Series D-1 Preferred		1,070,543
	05/2012		184,967	Dropbox, Inc. Class B		1,674,267
	06/2015		350,600	Harry’s, Inc.		4,713,607
	08/2014		17,385	Honest Co.		470,391
	08/2014		40,566	Honest Co. Series C Convertible Preferred		1,097,606
	12/2015		29,504	Magic Leap, Inc. Series C Preferred		679,566
	03/2015		50,200	Nanigans, Inc. Preferred		548,109
	01/2014		127,917	One Kings Lane, Inc. Preferred		1,972,096
	03/2015		793,410	Pinterest, Inc. Series G Preferred		5,695,963
	03/2015		20,891	Sharecare Preferred		5,220,034
	09/2015		284,119	Social Finance, Inc. Preferred		4,482,347
	11/2013		280,504	Tory Burch LLC		21,984,886
	06/2014		815,160	Uber Technologies, Inc. Preferred		12,645,618
	10/2005		29,800	Weinstein Co. LLC		27,950,957
	01/2015		293,655	Zuora, Inc. Series F Preferred		1,115,683

					$	99,828,028

At December 31, 2016, the aggregate value of these securities was $92,846,944, which represents 1.8% of total net assets.

⁽³⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $92,846,944, which represents 1.8% of total net assets.

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


		84

Hartford Capital Appreciation HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Foreign Currency Contracts Outstanding at December 31, 2016
Currency	Buy/Sell	Delivery Date		Counterparty	Contract Amount		Market Value^†		Unrealized Appreciation/ (Depreciation)
EUR	Sell		03/15/17	MSC	$	27,603,559	$	27,295,889	$	307,670
GBP	Buy		03/15/17	BCLY		4,461,173		4,453,670		(7,503	)
GBP	Sell		03/15/17	BCLY		4,593,486		4,453,671		139,815
JPY	Sell		03/15/17	CBK		34,855,382		34,240,468		614,914
JPY	Sell		03/15/17	BCLY		6,719,467		6,783,789		(64,322	)

Total									$	990,574

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Counterparty Abbreviations:
BCLY		Barclays
CBK		Citibank NA
MSC		Morgan Stanley

Currency Abbreviations:
EUR		Euro
GBP		British Pound
JPY		Japanese Yen


Other Abbreviations:
ADR		American Depositary Receipt
GDR		Global Depositary Receipt
PIPE		Private Investment in Public Equity
PJSC		Private Joint Stock Company
REIT		Real Estate Investment Trust

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


		85

Hartford Capital Appreciation HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total			Level 1⁽¹⁾		Level 2⁽¹⁾			Level 3⁽¹⁾
Assets
Common Stocks
Automobiles & Components	$	96,378,550		$	96,378,550	$	—		$	—
Banks		453,250,446			381,587,741		71,662,705			—
Capital Goods		175,311,966			127,634,607		42,986,331			4,691,028
Commercial & Professional Services		62,632,079			62,632,079		—			—
Consumer Durables & Apparel		161,947,144			110,252,179		51,694,965			—
Consumer Services		93,197,850			93,197,850		—			—
Diversified Financials		186,615,812			169,220,317		17,395,495			—
Energy		262,875,941			230,080,779		31,905,453			889,709
Food & Staples Retailing		66,022,476			59,449,324		6,573,152			—
Food, Beverage & Tobacco		147,989,965			132,067,758		15,922,207			—
Health Care Equipment & Services		278,422,333			278,422,333		—			—
Household & Personal Products		72,412,544			62,678,678		9,733,866			—
Insurance		336,954,665			308,448,350		28,506,315			—
Materials		189,974,139			131,598,376		58,375,763			—
Media		74,310,463			52,064,331		22,246,132			—
Pharmaceuticals, Biotechnology & Life Sciences		435,869,919			405,353,004		30,516,915			—
Real Estate		111,223,926			102,881,406		8,342,520			—
Retailing		249,864,564			227,220,875		—			22,643,689
Semiconductors & Semiconductor Equipment		118,041,336			112,353,582		5,687,754			—
Software & Services		767,477,504			731,820,100		33,876,172			1,781,232
Technology Hardware & Equipment		183,953,174			133,252,335		50,700,839			—
Telecommunication Services		71,413,883			58,394,198		13,019,685			—
Transportation		239,035,908			239,035,908		—			—
Utilities		125,024,326			104,103,324		20,921,002			—
Preferred Stocks		61,440,948			—		—			61,440,948
Convertible Preferred Stocks		1,400,338			—		—			1,400,338
Short-Term Investments		112,629,057			112,629,057		—			—
Foreign Currency Contracts⁽²⁾		1,062,399			—		1,062,399			—

Total	$	5,136,733,655		$	4,522,757,041	$	521,129,670		$	92,846,944

Liabilities
Foreign Currency Contracts⁽²⁾	$	(71,825	)	$	—	$	(71,825	)	$	—

Total	$	(71,825	)	$	—	$	(71,825	)	$	—

⁽¹⁾

For the year ended December 31, 2016, investments valued at $8,147,027 were transferred from Level 1 to Level 2 due to the application of a fair valuation factor, there were no transfers from Level 2 to Level 1 and investments valued at $6,886,563 were transferred from Level 3 to Level 1 due to the expiration of trading restrictions.

⁽²⁾	Derivative instruments (excluding purchased and written options, if applicable) are valued at the unrealized appreciation/depreciation on the investments.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks			Preferred Stocks			Convertible Preferred Stocks			Total
Beginning balance	$	37,711,677		$	63,535,697		$	1,838,857		$	103,086,231
Purchases		810,920			—			—			810,920
Sales		(199,950	)		(332,175	)		—			(532,125	)
Accrued discounts/(premiums)		—			—			—			—
Total realized gain/(loss)		8,530			(23,226	)		—			(14,696	)
Net change in unrealized appreciation/depreciation		(1,438,956	)		(1,739,348	)		(438,519	)		(3,616,823	)
Transfers into Level 3		—			—			—			—
Transfers out of Level 3		(6,886,563	)		—			—			(6,886,563	)

Ending balance	$	30,005,658		$	61,440,948		$	1,400,338		$	92,846,944

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $(3,616,965).

Note:

For purposes of reporting transfers between different hierarchy levels, both transfers in and out of each level, as applicable, are shown as if they occurred at the beginning of the period.

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


		86

Hartford Disciplined Equity HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.5%
		Banks - 11.1%
	820,277	Bank of America Corp.	$	18,128,122
	225,410	Citigroup, Inc.		13,396,116
	257,355	JP Morgan Chase & Co.		22,207,163
	28,568	M&T Bank Corp.		4,468,892
	136,055	PNC Financial Services Group, Inc.		15,912,993

				74,113,286

		Capital Goods - 7.1%
	195,481	AMETEK, Inc.		9,500,377
	96,779	Fortune Brands Home & Security, Inc.		5,173,805
	26,218	General Dynamics Corp.		4,526,800
	107,312	Honeywell International, Inc.		12,432,095
	63,661	Illinois Tool Works, Inc.		7,795,926
	45,909	Snap-on, Inc.		7,862,834

				47,291,837

		Commercial & Professional Services - 2.3%
	64,520	Equifax, Inc.		7,628,200
	94,089	Verisk Analytics, Inc. Class A*		7,637,204

				15,265,404

		Consumer Durables & Apparel - 2.4%
	142,230	NIKE, Inc. Class B		7,229,551
	171,623	VF Corp.		9,156,087

				16,385,638

		Consumer Services - 3.0%
	254,949	Aramark		9,106,778
	201,549	Starbucks Corp.		11,190,001

				20,296,779

		Diversified Financials - 2.0%
	79,055	Capital One Financial Corp.		6,896,758
	171,726	Synchrony Financial		6,228,502

				13,125,260

		Energy - 3.5%
	84,871	Baker Hughes, Inc.		5,514,069
	56,191	Concho Resources, Inc.*		7,450,927
	100,731	EOG Resources, Inc.		10,183,904

				23,148,900

		Food & Staples Retailing - 3.7%
	96,740	Costco Wholesale Corp.		15,489,041
	268,425	Kroger Co.		9,263,347

				24,752,388

		Food, Beverage & Tobacco - 6.7%
	226,412	Altria Group, Inc.		15,309,980
	86,671	Molson Coors Brewing Co. Class B		8,433,955
	316,031	Mondelez International, Inc. Class A		14,009,654
	152,253	Monster Beverage Corp.*		6,750,898

				44,504,487

		Health Care Equipment & Services - 5.5%
	132,240	HCA Holdings, Inc.*		9,788,405
	110,754	Hologic, Inc.*		4,443,450
	134,891	Medtronic plc		9,608,286
	79,083	UnitedHealth Group, Inc.		12,656,443

				36,496,584

		Household & Personal Products - 3.4%
	184,330	Colgate-Palmolive Co.		12,062,555


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.5% - (continued)
		Household & Personal Products - 3.4% - (continued)
	137,243	Estee Lauder Cos., Inc. Class A	$	10,497,717

				22,560,272

		Insurance - 4.4%
	94,443	Allstate Corp.		7,000,115
	108,866	Chubb Ltd.		14,383,376
	219,251	XL Group Ltd.		8,169,292

				29,552,783

		Materials - 3.7%
	163,102	Crown Holdings, Inc.*		8,574,272
	118,299	Dow Chemical Co.		6,769,069
	82,209	Ecolab, Inc.		9,636,539

				24,979,880

		Media - 2.3%
	227,523	Comcast Corp. Class A		15,710,463

		Pharmaceuticals, Biotechnology & Life Sciences - 6.9%
	44,535	Allergan plc*		9,352,795
	187,407	Bristol-Myers Squibb Co.		10,952,065
	119,392	Eli Lilly & Co.		8,781,282
	175,356	Merck & Co., Inc.		10,323,208
	49,773	Thermo Fisher Scientific, Inc.		7,022,970

				46,432,320

		Retailing - 5.8%
	11,578	AutoZone, Inc.*		9,144,189
	102,152	Dollar Tree, Inc.*		7,884,091
	148,197	Lowe’s Cos., Inc.		10,539,771
	145,495	TJX Cos., Inc.		10,931,039

				38,499,090

		Semiconductors & Semiconductor Equipment - 2.5%
	93,460	Analog Devices, Inc.		6,787,065
	32,732	Broadcom Ltd.		5,786,036
	61,940	QUALCOMM, Inc.		4,038,488

				16,611,589

		Software & Services - 11.9%
	42,627	Accenture plc Class A		4,992,900
	20,642	Alphabet, Inc. Class A*		16,357,753
	4,607	Alphabet, Inc. Class C*		3,555,775
	107,597	Automatic Data Processing, Inc.		11,058,820
	173,053	eBay, Inc.*		5,137,944
	63,748	Electronic Arts, Inc.*		5,020,792
	160,146	GoDaddy, Inc. Class A*		5,597,103
	118,529	Mastercard, Inc. Class A		12,238,119
	185,035	Microsoft Corp.		11,498,075
	108,565	PayPal Holdings, Inc.*		4,285,060

				79,742,341

		Technology Hardware & Equipment - 5.0%
	182,723	Apple, Inc.		21,162,978
	136,708	Keysight Technologies, Inc.*		4,999,411
	28,829	SYNNEX Corp.		3,488,886
	52,441	Western Digital Corp.		3,563,366

				33,214,641

		Transportation - 1.3%
	48,394	FedEx Corp.		9,010,963

		Utilities - 5.0%
	181,952	American Electric Power Co., Inc.		11,455,698
	108,782	NextEra Energy, Inc.		12,995,098

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


		87

Hartford Disciplined Equity HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.5% - (continued)
		Utilities - 5.0% - (continued)
	116,040	Pinnacle West Capital Corp.	$	9,054,601

				33,505,397


		Total Common Stocks (cost $541,162,937)	$	665,200,302


		Total Long-Term Investments (cost $541,162,937)	$	665,200,302


SHORT-TERM INVESTMENTS - 0.8%
		Other Investment Pools & Funds - 0.8%
	4,864,319	BlackRock Liquidity Funds TempFund Portfolio, Institutional Class	$	4,864,319


		Total Short-Term Investments (cost $4,864,319)	$	4,864,319



Total Investments (cost $546,027,256)^{^}	100.3	%	$	670,064,621
Other Assets and Liabilities	(0.3	)%		(1,671,111	)

Total Net Assets	100.0	%	$	668,393,510

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


		88

Hartford Disciplined Equity HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $546,651,192 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	130,820,477
Unrealized Depreciation		(7,407,048	)

Net Unrealized Appreciation	$	123,413,429

*	Non-income producing.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.

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


		89

Hartford Disciplined Equity HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Banks	$	74,113,286	$	74,113,286	$	—	$	—
Capital Goods		47,291,837		47,291,837		—		—
Commercial & Professional Services		15,265,404		15,265,404		—		—
Consumer Durables & Apparel		16,385,638		16,385,638		—		—
Consumer Services		20,296,779		20,296,779		—		—
Diversified Financials		13,125,260		13,125,260		—		—
Energy		23,148,900		23,148,900		—		—
Food & Staples Retailing		24,752,388		24,752,388		—		—
Food, Beverage & Tobacco		44,504,487		44,504,487		—		—
Health Care Equipment & Services		36,496,584		36,496,584		—		—
Household & Personal Products		22,560,272		22,560,272		—		—
Insurance		29,552,783		29,552,783		—		—
Materials		24,979,880		24,979,880		—		—
Media		15,710,463		15,710,463		—		—
Pharmaceuticals, Biotechnology & Life Sciences		46,432,320		46,432,320		—		—
Retailing		38,499,090		38,499,090		—		—
Semiconductors & Semiconductor Equipment		16,611,589		16,611,589		—		—
Software & Services		79,742,341		79,742,341		—		—
Technology Hardware & Equipment		33,214,641		33,214,641		—		—
Transportation		9,010,963		9,010,963		—		—
Utilities		33,505,397		33,505,397		—		—
Short-Term Investments		4,864,319		4,864,319		—		—

Total	$	670,064,621	$	670,064,621	$	—	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

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


		90

Hartford Dividend and Growth HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 97.5%
		Automobiles & Components - 1.1%
	3,255,586	Ford Motor Co.	$	39,490,258

		Banks - 12.3%
	4,216,813	Bank of America Corp.		93,191,567
	399,639	Bank of Nova Scotia		22,251,899
	152,730	Citigroup, Inc.		9,076,744
	1,290,000	JP Morgan Chase & Co.		111,314,100
	608,284	PNC Financial Services Group, Inc.		71,144,897
	256,689	US Bancorp		13,186,114
	1,872,414	Wells Fargo & Co.		103,188,736

				423,354,057

		Capital Goods - 4.5%
	165,850	Boeing Co.		25,819,528
	314,850	Caterpillar, Inc.		29,199,189
	512,731	Eaton Corp. plc		34,399,123
	307,678	Honeywell International, Inc.		35,644,496
	115,076	Lockheed Martin Corp.		28,762,095

				153,824,431

		Commercial & Professional Services - 0.9%
	59,720	Equifax, Inc.		7,060,695
	568,825	Nielsen Holdings plc		23,862,209

				30,922,904

		Consumer Services - 0.9%
	1,108,554	Hilton Worldwide Holdings, Inc.		30,152,669

		Diversified Financials - 4.5%
	89,262	BlackRock, Inc.		33,967,762
	94,070	Goldman Sachs Group, Inc.		22,525,062
	387,470	Intercontinental Exchange, Inc.		21,861,057
	386,686	Invesco Ltd.		11,732,053
	344,340	Northern Trust Corp.		30,663,477
	920,631	Synchrony Financial		33,391,286

				154,140,697

		Energy - 10.1%
	364,745	Anadarko Petroleum Corp.		25,433,669
	790,746	Chevron Corp.		93,070,804
	129,889	EOG Resources, Inc.		13,131,778
	650,493	Exxon Mobil Corp.		58,713,498
	173,240	Halliburton Co.		9,370,552
	875,890	Hess Corp.		54,559,188
	155,825	Marathon Petroleum Corp.		7,845,789
	367,603	Royal Dutch Shell plc Class B		10,561,932
	1,101,610	Suncor Energy, Inc.		36,011,631
	816,023	Total S.A. ADR		41,592,692

				350,291,533

		Food & Staples Retailing - 2.3%
	156,100	Costco Wholesale Corp.		24,993,171
	372,701	CVS Health Corp.		29,409,836
	287,386	Walgreens Boots Alliance, Inc.		23,784,065

				78,187,072

		Food, Beverage & Tobacco - 3.7%
	467,750	Coca-Cola Co.		19,392,915
	837,219	Mondelez International, Inc. Class A		37,113,918
	345,340	PepsiCo, Inc.		36,132,924
	373,642	Philip Morris International, Inc.		34,184,507

				126,824,264


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 97.5% - (continued)
		Health Care Equipment & Services - 3.9%
	480,939	Cardinal Health, Inc.	$	34,613,180
	90,690	McKesson Corp.		12,737,410
	693,059	Medtronic plc		49,366,593
	244,377	UnitedHealth Group, Inc.		39,110,095

				135,827,278

		Household & Personal Products - 0.3%
	182,190	Colgate-Palmolive Co.		11,922,514

		Insurance - 7.9%
	619,973	Chubb Ltd.		81,910,833
	604,325	Marsh & McLennan Cos., Inc.		40,846,327
	521,381	MetLife, Inc.		28,097,222
	840,780	Principal Financial Group, Inc.		48,647,531
	696,656	Prudential Financial, Inc.		72,494,023

				271,995,936

		Materials - 3.6%
	141,610	Ball Corp.		10,630,663
	371,540	BHP Billiton plc ADR		11,688,648
	447,360	Celanese Corp. Series A		35,225,127
	542,610	Dow Chemical Co.		31,048,144
	654,169	International Paper Co.		34,710,207

				123,302,789

		Media - 3.2%
	1,249,973	Comcast Corp. Class A		86,310,636
	848,782	Twenty-First Century Fox, Inc. Class A		23,799,847

				110,110,483

		Pharmaceuticals, Biotechnology & Life Sciences - 9.9%
	1,823,726	AstraZeneca plc ADR		49,824,194
	1,172,456	Bristol-Myers Squibb Co.		68,518,329
	491,495	Eli Lilly & Co.		36,149,457
	488,495	Johnson & Johnson		56,279,509
	1,546,023	Merck & Co., Inc.		91,014,374
	1,222,959	Pfizer, Inc.		39,721,708

				341,507,571

		Real Estate - 0.5%
	157,450	American Tower Corp. REIT		16,639,316

		Retailing - 1.9%
	180,650	Expedia, Inc.		20,464,032
	229,550	L Brands, Inc.		15,113,572
	408,311	Lowe’s Cos., Inc.		29,039,078

				64,616,682

		Semiconductors & Semiconductor Equipment - 3.0%
	2,412,761	Intel Corp.		87,510,841
	240,404	Texas Instruments, Inc.		17,542,280

				105,053,121

		Software & Services - 6.9%
	298,144	Accenture plc Class A		34,921,607
	104,900	Alphabet, Inc. Class A*		83,128,005
	241,190	eBay, Inc.*		7,160,931
	1,828,735	Microsoft Corp.		113,637,593

				238,848,136

		Technology Hardware & Equipment - 4.1%
	577,065	Apple, Inc.		66,835,668
	121,260	Avnet, Inc.		5,773,189
	1,240,705	Cisco Systems, Inc.		37,494,105

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


		91

Hartford Dividend and Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 97.5% - (continued)
		Technology Hardware & Equipment - 4.1% - (continued)
	382,410	Motorola Solutions, Inc.	$	31,697,965

				141,800,927

		Telecommunication Services - 2.2%
	1,430,149	Verizon Communications, Inc.		76,341,354

		Transportation - 5.1%
	193,851	Canadian National Railway Co.		13,065,557
	1,290,705	CSX Corp.		46,375,031
	609,097	Delta Air Lines, Inc.		29,961,482
	142,037	FedEx Corp.		26,447,289
	537,038	United Parcel Service, Inc. Class B		61,566,036

				177,415,395

		Utilities - 4.7%
	561,856	Dominion Resources, Inc.		43,032,551
	521,246	Edison International		37,524,499
	845,612	Exelon Corp.		30,010,770
	431,658	NextEra Energy, Inc.		51,565,865

				162,133,685


		Total Common Stocks (cost $2,367,713,361)	$	3,364,703,072


		Total Long-Term Investments (cost $2,367,713,361)	$	3,364,703,072


SHORT-TERM INVESTMENTS - 2.3%
		Other Investment Pools & Funds - 2.3%
	79,679,432	Fidelity Institutional Government Fund, Institutional Class	$	79,679,432


		Total Short-Term Investments (cost $79,679,432)	$	79,679,432



Total Investments (cost $2,447,392,793)^{^}	99.8	%	$	3,444,382,504
Other Assets and Liabilities	0.2	%		7,605,749

Total Net Assets	100.0	%	$	3,451,988,253

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


		92

Hartford Dividend and Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $2,446,646,781 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	1,015,561,454
Unrealized Depreciation		(17,825,731	)

Net Unrealized Appreciation	$	997,735,723

*	Non-income producing.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt
REIT		Real Estate Investment Trust

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


		93

Hartford Dividend and Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Automobiles & Components	$	39,490,258	$	39,490,258	$	—	$	—
Banks		423,354,057		423,354,057		—		—
Capital Goods		153,824,431		153,824,431		—		—
Commercial & Professional Services		30,922,904		30,922,904		—		—
Consumer Services		30,152,669		30,152,669		—		—
Diversified Financials		154,140,697		154,140,697		—		—
Energy		350,291,533		339,729,601		10,561,932		—
Food & Staples Retailing		78,187,072		78,187,072		—		—
Food, Beverage & Tobacco		126,824,264		126,824,264		—		—
Health Care Equipment & Services		135,827,278		135,827,278		—		—
Household & Personal Products		11,922,514		11,922,514		—		—
Insurance		271,995,936		271,995,936		—		—
Materials		123,302,789		123,302,789		—		—
Media		110,110,483		110,110,483		—		—
Pharmaceuticals, Biotechnology & Life Sciences		341,507,571		341,507,571		—		—
Real Estate		16,639,316		16,639,316		—		—
Retailing		64,616,682		64,616,682		—		—
Semiconductors & Semiconductor Equipment		105,053,121		105,053,121		—		—
Software & Services		238,848,136		238,848,136		—		—
Technology Hardware & Equipment		141,800,927		141,800,927		—		—
Telecommunication Services		76,341,354		76,341,354		—		—
Transportation		177,415,395		177,415,395		—		—
Utilities		162,133,685		162,133,685		—		—
Short-Term Investments		79,679,432		79,679,432		—		—

Total	$	3,444,382,504	$	3,433,820,572	$	10,561,932	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

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


		94

Hartford Global Growth HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.0%
		Banks - 5.3%
	1,957,000	Bank Central Asia Tbk PT	$	2,245,303
	302,628	Bank of America Corp.		6,688,079
	56,446	BNP Paribas S.A.		3,592,106
	38,870	HDFC Bank Ltd. ADR		2,358,631
	289,587	ICICI Bank Ltd. ADR		2,169,007
	249,880	Itau Unibanco Holding S.A. ADR		2,568,766
	21,962	PNC Financial Services Group, Inc.		2,568,675

				22,190,567

		Capital Goods - 4.7%
	141,582	Assa Abloy AB Class B		2,619,781
	77,777	Atlas Copco AB Class A		2,359,486
	47,544	Fortune Brands Home & Security, Inc.		2,541,702
	94,200	Komatsu Ltd.		2,133,643
	12,652	Lockheed Martin Corp.		3,162,241
	30,600	Nidec Corp.		2,634,374
	35,890	Pentair plc		2,012,352
	10,122	SMC Corp.		2,408,271

				19,871,850

		Commercial & Professional Services - 3.4%
	130,714	Edenred		2,588,205
	23,183	Equifax, Inc.		2,740,926
	162,284	Experian plc		3,142,081
	78,505	IHS Markit Ltd.*		2,779,862
	71,300	Recruit Holdings Co., Ltd.		2,857,446

				14,108,520

		Consumer Durables & Apparel - 2.0%
	25,520	Pandora A/S		3,331,380
	101,600	Sony Corp.		2,838,899
	48,489	Under Armour, Inc. Class A*		1,408,606
	26,361	Under Armour, Inc. Class C*		663,506

				8,242,391

		Consumer Services - 3.4%
	198,369	Compass Group plc		3,666,165
	102,188	MGM Resorts International*		2,946,080
	58,096	New Oriental Education & Technology Group, Inc. ADR*		2,445,841
	667,262	Sands China Ltd.		2,878,684
	45,090	Starbucks Corp.		2,503,397

				14,440,167

		Diversified Financials - 6.5%
	6,212	BlackRock, Inc.		2,363,915
	30,488	Capital One Financial Corp.		2,659,773
	38,438	Discover Financial Services		2,770,995
	46,301	Intercontinental Exchange, Inc.		2,612,302
	110,590	Julius Baer Group Ltd.*		4,899,328
	30,123	MSCI, Inc.		2,373,090
	26,100	Northern Trust Corp.		2,324,205
	5,246	Partners Group Holding AG		2,455,850
	22,179	S&P Global, Inc.		2,385,130
	64,875	Synchrony Financial		2,353,016

				27,197,604

		Energy - 2.5%
	57,624	Baker Hughes, Inc.		3,743,831
	210,522	Galp Energia SGPS S.A.		3,138,512
	20,542	Pioneer Natural Resources Co.		3,698,998

				10,581,341


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.0% - (continued)
		Food & Staples Retailing - 0.8%
	21,481	Costco Wholesale Corp.	$	3,439,323

		Food, Beverage & Tobacco - 5.0%
	20,175	Anheuser-Busch InBev N.V.		2,135,403
	121,425	British American Tobacco plc		6,881,806
	283,039	Davide Campari-Milano S.p.A.		2,767,873
	59,075	Mondelez International, Inc. Class A		2,618,795
	64,848	Monster Beverage Corp.*		2,875,360
	34,383	PepsiCo, Inc.		3,597,493

				20,876,730

		Health Care Equipment & Services - 5.7%
	26,635	Align Technology, Inc.*		2,560,422
	252,228	Boston Scientific Corp.*		5,455,692
	31,558	Edwards Lifesciences Corp.*		2,956,985
	36,088	HCA Holdings, Inc.*		2,671,234
	34,952	Medtronic plc		2,489,631
	23,746	Stryker Corp.		2,845,008
	31,349	UnitedHealth Group, Inc.		5,017,094

				23,996,066

		Household & Personal Products - 2.1%
	27,001	Estee Lauder Cos., Inc. Class A		2,065,307
	78,960	Reckitt Benckiser Group plc		6,688,537

				8,753,844

		Insurance - 3.1%
	97,885	Admiral Group plc		2,201,342
	582,800	AIA Group Ltd.		3,264,752
	35,222	Allstate Corp.		2,610,655
	58,051	Assured Guaranty Ltd.		2,192,586
	151,900	Manulife Financial Corp.		2,705,045

				12,974,380

		Materials - 2.6%
	210,088	Amcor Ltd.		2,261,139
	227,077	BHP Billiton plc		3,615,750
	30,263	HeidelbergCement AG		2,816,879
	136,701	James Hardie Industries plc		2,157,884

				10,851,652

		Media - 1.2%
	39,074	Comcast Corp. Class A		2,698,060
	84,530	Twenty-First Century Fox, Inc. Class A		2,370,221

				5,068,281

		Pharmaceuticals, Biotechnology & Life Sciences - 6.2%
	10,885	Allergan plc*		2,285,959
	71,268	Bristol-Myers Squibb Co.		4,164,902
	19,327	Celgene Corp.*		2,237,100
	49,000	Eisai Co., Ltd.		2,808,060
	36,794	ICON plc*		2,766,909
	20,792	Incyte Corp.*		2,084,814
	6,223	Regeneron Pharmaceuticals, Inc.*		2,284,401
	11,571	Roche Holding AG		2,637,639
	20,457	Thermo Fisher Scientific, Inc.		2,886,483
	31,632	UCB S.A.		2,023,845

				26,180,112

		Real Estate - 2.0%
	57,407	American Tower Corp. REIT		6,066,772
	16,900	Daito Trust Construction Co., Ltd.		2,540,707

				8,607,479

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


		95

Hartford Global Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.0% - (continued)
		Retailing - 9.8%
	15,939	Amazon.com, Inc.*	$	11,952,178
	3,865	AutoZone, Inc.*		3,052,538
	36,321	Home Depot, Inc.		4,869,920
	68,206	Industria de Diseno Textil S.A.		2,323,504
	35,762	Lowe’s Cos., Inc.		2,543,393
	31,395	Netflix, Inc.*		3,886,701
	3,953	Priceline Group, Inc.*		5,795,335
	49,775	Ross Stores, Inc.		3,265,240
	87,320	Zalando SE*⁽¹⁾		3,326,387

				41,015,196

		Semiconductors & Semiconductor Equipment - 3.0%
	35,708	Analog Devices, Inc.		2,593,115
	155,584	Infineon Technologies AG		2,691,210
	21,562	NXP Semiconductors N.V.*		2,113,291
	36,500	QUALCOMM, Inc.		2,379,800
	509,000	Taiwan Semiconductor Manufacturing Co., Ltd.		2,851,038

				12,628,454

		Software & Services - 25.3%
	32,444	Accenture plc Class A		3,800,166
	67,215	Adobe Systems, Inc.*		6,919,784
	31,387	Alibaba Group Holding Ltd. ADR*		2,756,092
	22,317	Alphabet, Inc. Class C*		17,224,707
	38,066	Automatic Data Processing, Inc.		3,912,424
	3,575	Dropbox, Inc. Class B*^(1)(2)(3)		34,427
	37,889	Electronic Arts, Inc.*		2,984,138
	96,932	Facebook, Inc. Class A*		11,152,027
	34,715	Gartner, Inc. Class A*		3,508,645
	38,365	Global Payments, Inc.		2,662,915
	22,520	Intuit, Inc.		2,581,017
	323,579	Just Eat plc*		2,325,086
	74,848	Mastercard, Inc. Class A		7,728,056
	42,651	Microsoft Corp.		2,650,333
	82,797	Mobileye N.V.*		3,156,222
	3,037	NAVER Corp.		1,944,826
	10,212	NetEase, Inc. ADR		2,199,052
	13,300	Nintendo Co., Ltd.		2,764,743
	69,686	PayPal Holdings, Inc.*		2,750,506
	45,402	Salesforce.com, Inc.*		3,108,221
	43,484	ServiceNow, Inc.*		3,232,601
	241,300	Tencent Holdings Ltd.		5,850,827
	42,412	Vantiv, Inc. Class A*		2,528,603
	50,640	Visa, Inc. Class A		3,950,933
	119,410	Yandex N.V. Class A*		2,403,723
	57,735	Zillow Group, Inc. Class C*		2,105,595

				106,235,669

		Technology Hardware & Equipment - 2.7%
	119,800	Alps Electric Co., Ltd.		2,878,549
	70,366	Cisco Systems, Inc.		2,126,461
	24,000	Largan Precision Co., Ltd.		2,797,472
	2,424	Samsung Electronics Co., Ltd.		3,607,668

				11,410,150

		Telecommunication Services - 1.3%
	54,269	T-Mobile US, Inc.*		3,121,010
	7,251,810	Telekomunikasi Indonesia Persero Tbk PT		2,133,425

				5,254,435


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.0% - (continued)
		Transportation - 0.4%
	39,193	DSV A/S	$	1,740,571


		Total Common Stocks (cost $362,196,616)	$	415,664,782


WARRANTS - 0.0%
		Diversified Financials - 0.0%
	1,035	Emergent Capital, Inc. Expires 4/11/19*⁽³⁾	$	—


		Total Warrants (cost $—)	$	—


		Total Long-Term Investments (cost $362,196,616)	$	415,664,782


SHORT-TERM INVESTMENTS - 1.3%
		Other Investment Pools & Funds - 1.3%
	5,543,109	Fidelity Institutional Government Fund, Institutional Class	$	5,543,109


		Total Short-Term Investments (cost $5,543,109)	$	5,543,109



Total Investments (cost $367,739,725)^{^}	100.3	%	$	421,207,891
Other Assets and Liabilities	(0.3	)%		(1,301,785	)

Total Net Assets	100.0	%	$	419,906,106

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


		96

Hartford Global Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $368,281,674 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	59,568,158
Unrealized Depreciation		(6,641,941	)

Net Unrealized Appreciation	$	52,926,217

*	Non-income producing.

⁽¹⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $3,360,814, which represents 0.8% of total net assets.

⁽²⁾

This security is valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of this security was $34,427, which represents 0.0% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

⁽³⁾

The following security is considered illiquid. Illiquid securities are often purchased in private placement transactions, are often not registered under the Securities Act of 1933, as amended, 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
	05/2012		3,575	Dropbox, Inc. Class B	$	32,360
	04/2014		1,035	Emergent Capital, Inc. Warrants		—

					$	32,360

At December 31, 2016, the aggregate value of these securities was $34,427, which represents 0.0% of total net assets.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt
MSCI		Morgan Stanley Capital International
REIT		Real Estate Investment Trust

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


		97

Hartford Global Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Banks	$	22,190,567	$	16,353,158	$	5,837,409	$	—
Capital Goods		19,871,850		7,716,295		12,155,555		—
Commercial & Professional Services		14,108,520		5,520,788		8,587,732		—
Consumer Durables & Apparel		8,242,391		2,072,112		6,170,279		—
Consumer Services		14,440,167		7,895,318		6,544,849		—
Diversified Financials		27,197,604		19,842,426		7,355,178		—
Energy		10,581,341		7,442,829		3,138,512		—
Food & Staples Retailing		3,439,323		3,439,323		—		—
Food, Beverage & Tobacco		20,876,730		13,994,924		6,881,806		—
Health Care Equipment & Services		23,996,066		23,996,066		—		—
Household & Personal Products		8,753,844		2,065,307		6,688,537		—
Insurance		12,974,380		7,508,286		5,466,094		—
Materials		10,851,652		—		10,851,652		—
Media		5,068,281		5,068,281		—		—
Pharmaceuticals, Biotechnology & Life Sciences		26,180,112		18,710,568		7,469,544		—
Real Estate		8,607,479		6,066,772		2,540,707		—
Retailing		41,015,196		35,365,305		5,649,891		—
Semiconductors & Semiconductor Equipment		12,628,454		7,086,206		5,542,248		—
Software & Services		106,235,669		93,315,760		12,885,482		34,427
Technology Hardware & Equipment		11,410,150		2,126,461		9,283,689		—
Telecommunication Services		5,254,435		3,121,010		2,133,425		—
Transportation		1,740,571		—		1,740,571		—
Warrants		—		—		—		—
Short-Term Investments		5,543,109		5,543,109		—		—

Total	$	421,207,891	$	294,250,304	$	126,923,160	$	34,427

⁽¹⁾

For the year ended December 31, 2016, investments valued at $3,144,243 were transferred from Level 1 to Level 2 due to the application of a fair valuation factor, there were no transfers from Level 2 to Level 1 and investments valued at $34,983 were transferred from Level 3 to Level 1 due to the expiration of trading restrictions.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks			Warrants		Total
Beginning balance	$	89,323		$	—	$	89,323
Purchases		—			—		—
Sales		—			—		—
Accrued discounts/(premiums)		—			—		—
Total realized gain/(loss)		—			—		—
Net change in unrealized appreciation/depreciation		(19,913	)		—		(19,913	)
Transfers into Level 3		—			—		—
Transfers out of Level 3		(34,983	)		—		(34,983	)

Ending balance	$	34,427		$	—	$	34,427

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $(19,913).

Note:

For purposes of reporting transfers between different hierarchy levels, both transfers in and out of each level, as applicable, are shown as if they occurred at the beginning of the period.

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


		98

Hartford Growth Opportunities HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 91.2%
		Automobiles & Components - 1.0%
	62,786	Tesla Motors, Inc.*	$	13,416,740

		Banks - 3.5%
	72,300	BB&T Corp.		3,399,546
	242,977	Citigroup, Inc.		14,440,123
	143,066	PNC Financial Services Group, Inc.		16,732,999
	193,725	Wells Fargo & Co.		10,676,185

				45,248,853

		Capital Goods - 7.2%
	237,468	AerCap Holdings N.V.*		9,881,044
	162,410	Deere & Co.		16,734,726
	548,323	Fastenal Co.		25,760,215
	216,148	Middleby Corp.*		27,842,024
	101,158	Rockwell Automation, Inc.		13,595,635

				93,813,644

		Commercial & Professional Services - 1.5%
	18,785	Klarna Holding AB*^(1)(2)(3)		1,985,347
	562,033	TransUnion*		17,383,681

				19,369,028

		Consumer Durables & Apparel - 0.7%
	69,924	Pandora A/S		9,127,877
	14,630	Under Armour, Inc. Class C*		368,237

				9,496,114

		Consumer Services - 4.5%
	1,011,156	Hilton Worldwide Holdings, Inc.		27,503,443
	796,900	Kroton Educacional S.A.		3,263,796
	162,273	Marriott International, Inc. Class A		13,416,732
	71,686	Panera Bread Co. Class A*		14,702,082

				58,886,053

		Diversified Financials - 4.9%
	164,960	Capital One Financial Corp.		14,391,110
	621,393	Double Eagle Acquisition Corp.*		6,555,696
	310,301	Intercontinental Exchange, Inc.		17,507,182
	299,400	Synchrony Financial		10,859,238
	352,075	Voya Financial, Inc.		13,808,382

				63,121,608

		Energy - 6.8%
	344,622	Baker Hughes, Inc.		22,390,091
	53,299	Centennial Resource Development, Inc. PIPE*^(1)(2)(3)		949,514
	94,153	Cimarex Energy Co.		12,795,393
	87,129	Diamondback Energy, Inc.*		8,805,257
	293,938	Newfield Exploration Co.*		11,904,489
	64,307	Pioneer Natural Resources Co.		11,579,761
	273,500	Seven Generations Energy Ltd. Class A*		6,377,898
	909,355	WPX Energy, Inc.*		13,249,302

				88,051,705

		Food & Staples Retailing - 1.7%
	136,046	Costco Wholesale Corp.		21,782,325

		Food, Beverage & Tobacco - 1.8%
	512,725	Monster Beverage Corp.*		22,734,227

		Health Care Equipment & Services - 6.4%
	253,934	Align Technology, Inc.*		24,410,675
	189,512	DexCom, Inc.*		11,313,866
	247,190	Edwards Lifesciences Corp.*		23,161,703
	329,746	Hologic, Inc.*		13,229,410


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 91.2% - (continued)
		Health Care Equipment & Services - 6.4% - (continued)
	273,075	Veeva Systems, Inc. Class A*	$	11,114,153

				83,229,807

		Insurance - 1.0%
	247,394	MetLife, Inc.		13,332,063

		Materials - 6.2%
	3,665,775	Glencore plc*		12,386,224
	248,696	International Paper Co.		13,195,810
	1,876,931	Platform Specialty Products Corp.*		18,412,693
	279,113	Steel Dynamics, Inc.		9,930,841
	1,836,328	Vale S.A. ADR		13,992,819
	254,284	WestRock Co.		12,909,999

				80,828,386

		Pharmaceuticals, Biotechnology & Life Sciences - 6.0%
	611,708	Bristol-Myers Squibb Co.		35,748,216
	112,100	Celgene Corp.*		12,975,575
	217,580	Eisai Co., Ltd.		12,468,934
	62,470	Incyte Corp.*		6,263,867
	152,700	Ionis Pharmaceuticals, Inc.*		7,303,641
	29,330	TESARO, Inc.*		3,944,298

				78,704,531

		Real Estate - 1.2%
	38,929	Equinix, Inc. REIT		13,913,614
	29,318	WeWork Companies, Inc. Class A, REIT*^(1)(2)(3)		1,471,536

				15,385,150

		Retailing - 9.4%
	63,922	Amazon.com, Inc.*		47,933,190
	43,732	Honest Co.*^(1)(2)(3)		1,509,629
	41,578	JAND, Inc. Class A*^(1)(2)(3)		392,080
	312,380	Netflix, Inc.*		38,672,644
	20,393	Priceline Group, Inc.*		29,897,362
	94,537	Tory Burch LLC*^(1)(2)(3)		4,466,868

				122,871,773

		Semiconductors & Semiconductor Equipment - 0.9%
	167,260	Analog Devices, Inc.		12,146,421

		Software & Services - 22.0%
	198,638	Alibaba Group Holding Ltd. ADR*		17,442,403
	34,972	Alphabet, Inc. Class C*		26,992,089
	71,211	CoStar Group, Inc.*		13,422,561
	446,483	Facebook, Inc. Class A*		51,367,869
	280,622	Global Payments, Inc.		19,477,973
	637,259	Mobileye N.V.*		24,292,313
	472,080	PayPal Holdings, Inc.*		18,632,998
	272,342	ServiceNow, Inc.*		20,245,904
	457,514	SS&C Technologies Holdings, Inc.		13,084,901
	18,600	Trade Desk, Inc. Class A*		514,662
	88,825	Ultimate Software Group, Inc.*		16,197,239
	336,145	Visa, Inc. Class A		26,226,033
	309,967	Workday, Inc. Class A*		20,485,719
	511,860	Zillow Group, Inc. Class C*		18,667,534

				287,050,198

		Technology Hardware & Equipment - 1.1%
	148,599	Arista Networks, Inc.*		14,379,925

		Transportation - 3.4%
	70,064	FedEx Corp.		13,045,917
	191,584	J.B. Hunt Transport Services, Inc.		18,597,059

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


		99

Hartford Growth Opportunities HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 91.2% - (continued)
		Transportation - 3.4% - (continued)
	155,663	Kansas City Southern	$	13,208,005

				44,850,981


		Total Common Stocks (cost $1,122,166,125)	$	1,188,699,532


CORPORATE BONDS - 0.1%
		Internet - 0.1%
$	705,896	DraftKings, Inc. 5.00%, 12/23/2017*^(1)(2)(3)	$	705,896


		Total Corporate Bonds (cost $705,896)	$	705,896


PREFERRED STOCKS - 8.2%
		Capital Goods - 0.5%
	1,458,400	Lithium Technology Corp.*^(1)(2)(3)	$	6,941,984

		Consumer Services - 0.1%
	874,073	DraftKings, Inc.*^(1)(2)(3)		1,678,220

		Real Estate - 1.3%
	879,569	Redfin Corp. Series G*^(1)(2)(3)		3,615,029
	145,709	WeWork Companies, Inc. Class D-1*^(1)(2)(3)		7,313,462
	114,486	WeWork Companies, Inc. Class D-2*^(1)(2)(3)		5,746,310

				16,674,801

		Retailing - 0.6%
	1,605,750	Forward Ventures, Inc.*^(1)(2)(3)		7,036,397
	92,843	JAND, Inc. Series D*^(1)(2)(3)		875,509

				7,911,906

		Software & Services - 5.5%
	535,139	Birst, Inc. Series F*^(1)(2)(3)		2,761,317
	1,871,878	Essence Group Holdings Corp.*^(1)(2)(3)		3,388,099
	236,310	ForeScout Technologies, Inc.*^(1)(2)(3)		2,686,845
	50,806	General Assembly Space, Inc.*^(1)(2)(3)		2,490,556
	287,204	Lookout, Inc. Series F*^(1)(2)(3)		2,197,111
	366,944	MarkLogic Corp. Series F*^(1)(2)(3)		3,783,193
	227,914	Nutanix, Inc.*^(1)(2)(3)		5,754,089
	488,790	Pinterest, Inc. Series G*^(1)(2)(3)		2,825,206
	759,876	Uber Technologies, Inc.*^(1)(2)(3)		37,060,845
	210,735	Veracode, Inc.*^(1)(2)(3)		4,322,175
	1,160,072	Zuora, Inc. Series F*^(1)(2)(3)		4,303,867

				71,573,303

		Telecommunication Services - 0.2%
	7,944	DocuSign, Inc. Series B*^(1)(2)(3)		128,296
	2,379	DocuSign, Inc. Series B-1*^(1)(2)(3)		38,421
	5,708	DocuSign, Inc. Series D*^(1)(2)(3)		92,184
	123,606	DocuSign, Inc. Series E*^(1)(2)(3)		1,996,237

				2,255,138


		Total Preferred Stocks (cost $69,387,037)	$	107,035,352


Shares or Principal Amount			Market Value^†
CONVERTIBLE PREFERRED STOCKS - 0.3%
		Retailing - 0.3%
	102,040	Honest Co. Series C*^(1)(2)(3)	$	3,522,420


		Total Convertible Preferred Stocks (cost $2,760,927)	$	3,522,420


		Total Long-Term Investments (cost $1,195,019,985)	$	1,299,963,200


SHORT-TERM INVESTMENTS - 0.9%
		Other Investment Pools & Funds - 0.9%
	11,989,623	Morgan Stanley Institutional Liquidity Funds, Institutional Class	$	11,989,623


		Total Short-Term Investments (cost $11,989,623)	$	11,989,623



Total Investments (cost $1,207,009,608)^{^}	100.7	%	$	1,311,952,823
Other Assets and Liabilities	(0.7	)%		(9,077,066	)

Total Net Assets	100.0	%	$	1,302,875,757

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


		100

Hartford Growth Opportunities HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $1,220,165,767 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	118,362,538
Unrealized Depreciation		(26,575,482	)

Net Unrealized Appreciation	$	91,787,056

*	Non-income producing.

⁽¹⁾

These securities are valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of these securities was $122,038,642, which represents 9.4% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

⁽²⁾


Period Acquired		Shares/Par		Security	Cost Basis
	03/2015		535,139	Birst, Inc. Series F Preferred	$	3,125,693
	12/2016		53,299	Centennial Resource Development, Inc. PIPE		774,967
	02/2014		7,944	DocuSign, Inc. Series B Preferred		104,324
	02/2014		2,379	DocuSign, Inc. Series B-1 Preferred		31,242
	02/2014		5,708	DocuSign, Inc. Series D Preferred		74,960
	02/2014		123,606	DocuSign, Inc. Series E Preferred		1,623,243
	12/2015		705,896	DraftKings, Inc.		705,896
	12/2014		874,073	DraftKings, Inc. Preferred		1,574,452
	05/2014		1,871,878	Essence Group Holdings Corp. Preferred		2,960,001
	11/2015		236,310	ForeScout Technologies, Inc. Preferred		2,804,291
	11/2014		1,605,750	Forward Ventures, Inc. Preferred		4,998,894
	07/2015		50,806	General Assembly Space, Inc. Preferred		2,490,556
	08/2014		43,732	Honest Co.		1,183,270
	08/2014		102,040	Honest Co. Series C Convertible Preferred		2,760,927
	04/2015		41,578	JAND, Inc. Class A		477,536
	04/2015		92,843	JAND, Inc. Series D Preferred		1,066,330
	08/2015		18,785	Klarna Holding AB		2,060,349
	08/2013		1,458,400	Lithium Technology Corp. Preferred		7,108,242
	07/2014		287,204	Lookout, Inc. Series F Preferred		3,280,760
	04/2015		366,944	MarkLogic Corp. Series F Preferred		4,261,761
	08/2014		227,914	Nutanix, Inc. Preferred		3,053,250
	03/2015		488,790	Pinterest, Inc. Series G Preferred		3,509,068
	12/2014		879,569	Redfin Corp. Series G Preferred		2,900,554
	11/2013		94,537	Tory Burch LLC		7,409,472
	06/2014		759,876	Uber Technologies, Inc. Preferred		11,787,994
	08/2014		210,735	Veracode, Inc. Preferred		3,891,411
	12/2014		29,318	WeWork Companies, Inc. Class A, REIT		488,179
	12/2014		145,709	WeWork Companies, Inc. Class D-1 Preferred		2,426,224
	12/2014		114,486	WeWork Companies, Inc. Class D-2 Preferred		1,906,325
	01/2015		1,160,072	Zuora, Inc. Series F Preferred		4,407,462

					$	85,247,633

At December 31, 2016, the aggregate value of these securities was $122,038,642, which represents 9.4% of total net assets.

⁽³⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $122,038,642, which represents 9.4% of total net assets.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.

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


		101

Hartford Growth Opportunities HLS Fund

Schedule of Investments – (continued)

December 31, 2016


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt
PIPE		Private Investment in Public Equity
REIT		Real Estate Investment Trust

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


		102

Hartford Growth Opportunities HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Automobiles & Components	$	13,416,740	$	13,416,740	$	—	$	—
Banks		45,248,853		45,248,853		—		—
Capital Goods		93,813,644		93,813,644		—		—
Commercial & Professional Services		19,369,028		17,383,681		—		1,985,347
Consumer Durables & Apparel		9,496,114		368,237		9,127,877		—
Consumer Services		58,886,053		58,886,053		—		—
Diversified Financials		63,121,608		63,121,608		—		—
Energy		88,051,705		87,102,191		—		949,514
Food & Staples Retailing		21,782,325		21,782,325		—		—
Food, Beverage & Tobacco		22,734,227		22,734,227		—		—
Health Care Equipment & Services		83,229,807		83,229,807		—		—
Insurance		13,332,063		13,332,063		—		—
Materials		80,828,386		68,442,162		12,386,224		—
Pharmaceuticals, Biotechnology & Life Sciences		78,704,531		66,235,597		12,468,934		—
Real Estate		15,385,150		13,913,614		—		1,471,536
Retailing		122,871,773		116,503,196		—		6,368,577
Semiconductors & Semiconductor Equipment		12,146,421		12,146,421		—		—
Software & Services		287,050,198		287,050,198		—		—
Technology Hardware & Equipment		14,379,925		14,379,925		—		—
Transportation		44,850,981		44,850,981		—		—
Corporate Bonds		705,896		—		—		705,896
Preferred Stocks		107,035,352		—		—		107,035,352
Convertible Preferred Stocks		3,522,420		—		—		3,522,420
Short-Term Investments		11,989,623		11,989,623		—		—

Total	$	1,311,952,823	$	1,155,931,146	$	33,983,035	$	122,038,642

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between Level 1 and Level 2, and investments valued at $3,957,884 were transferred from Level 3 to Level 1 due to the expiration of trading restrictions.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks			Preferred Stocks			Corporate Bonds		Convertible Preferred Stocks			Total
Beginning balance	$	14,516,321		$	106,827,213		$	705,896	$	4,625,473		$	126,674,903
Purchases		774,967			—			—		—			774,967
Sales		—			(736,890	)		—		—			(736,890	)
Accrued discounts/(premiums)		—			—			—		—			—
Total realized gain/(loss)		—			(57,854	)		—		—			(57,854	)
Net change in unrealized appreciation/depreciation		(558,430	)		1,002,883			—		(1,103,053	)		(658,600	)
Transfers into Level 3		—			—			—		—			—
Transfers out of Level 3		(3,957,884	)		—			—		—			(3,957,884	)

Ending balance	$	10,774,974		$	107,035,352		$	705,896	$	3,522,420		$	122,038,642

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $444,125.

Note:

For purposes of reporting transfers between different hierarchy levels, both transfers in and out of each level, as applicable, are shown as if they occurred at the beginning of the period.

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


		103

Hartford Healthcare HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.0%
		Biotechnology - 24.0%
	191,910	Aduro Biotech, Inc.*	$	2,187,774
	36,080	Alder Biopharmaceuticals, Inc.*		750,464
	131,932	Alkermes plc*		7,332,781
	40,000	Alnylam Pharmaceuticals, Inc.*		1,497,600
	457,465	Arena Pharmaceuticals, Inc.*		649,600
	262,050	ARIAD Pharmaceuticals, Inc.*		3,259,902
	22,240	Biogen, Inc.*		6,306,819
	38,650	Bluebird Bio, Inc.*		2,384,705
	106,740	Celgene Corp.*		12,355,155
	189,030	Cytokinetics, Inc.*		2,296,714
	29,997	Galapagos N.V.*		1,921,163
	112,612	GlycoMimetics, Inc.*		686,933
	49,343	Incyte Corp.*		4,947,623
	26,798	Innate Pharma S.A.*		411,328
	138,403	Ironwood Pharmaceuticals, Inc.*		2,116,182
	88,940	Karyopharm Therapeutics, Inc.*		836,036
	84,470	Loxo Oncology, Inc.*		2,712,754
	140,661	Portola Pharmaceuticals, Inc.*		3,156,433
	38,800	PTC Therapeutics, Inc.*		423,308
	10,641	Regeneron Pharmaceuticals, Inc.*		3,906,205
	384,075	Rigel Pharmaceuticals, Inc.*		914,099
	131,640	Syndax Pharmaceuticals, Inc.*		943,859
	33,720	T2 Biosystems, Inc.*		177,367
	26,090	TESARO, Inc.*		3,508,583
	187,124	Trevena, Inc.*		1,100,289
	41,510	Ultragenyx Pharmaceutical, Inc.*		2,918,568

				69,702,244

		Drug Retail - 0.4%
	13,575	Walgreens Boots Alliance, Inc.		1,123,467

		Health Care Distributors - 3.2%
	49,560	Cardinal Health, Inc.		3,566,833
	40,220	McKesson Corp.		5,648,899

				9,215,732

		Health Care Equipment - 24.5%
	210,930	Abbott Laboratories		8,101,821
	24,760	ABIOMED, Inc.*		2,789,957
	99,970	AtriCure, Inc.*		1,956,413
	80,829	Baxter International, Inc.		3,583,958
	30,708	Becton Dickinson and Co.		5,083,709
	379,210	Boston Scientific Corp.*		8,202,312
	145,451	ConforMIS, Inc.*		1,178,153
	25,440	Edwards Lifesciences Corp.*		2,383,728
	150,862	Globus Medical, Inc. Class A*		3,742,886
	27,535	Invuity, Inc.*		158,326
	141,045	K2M Group Holdings, Inc.*		2,826,542
	209,562	Medtronic plc		14,927,101
	74,158	St. Jude Medical, Inc.		5,946,730
	66,045	Stryker Corp.		7,912,852
	15,510	Teleflex, Inc.		2,499,437

				71,293,925

		Health Care Facilities - 3.5%
	29,792	Acadia Healthcare Co., Inc.*		986,115
	82,770	Community Health Systems, Inc.*		462,684
	160,312	Georgia Healthcare Group plc*⁽¹⁾		705,567
	71,480	HCA Holdings, Inc.*		5,290,950
	26,860	LifePoint Health, Inc.*		1,525,648
	12,030	Universal Health Services, Inc. Class B		1,279,751

				10,250,715


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.0% - (continued)
		Health Care Services - 1.3%
	36,765	Envision Healthcare Corp.*	$	2,326,857
	88,582	Teladoc, Inc.*		1,461,603

				3,788,460

		Health Care Supplies - 1.0%
	236,190	ConvaTec Group plc*⁽¹⁾		680,837
	27,034	DENTSPLY SIRONA, Inc.		1,560,673
	116,161	Endologix, Inc.*		664,441

				2,905,951

		Health Care Technology - 2.1%
	59,235	Allscripts Healthcare Solutions, Inc.*		604,789
	22,650	athenahealth, Inc.*		2,382,101
	64,039	Cerner Corp.*		3,033,527

				6,020,417

		Life Sciences Tools & Services - 4.6%
	20,465	ICON plc*		1,538,968
	17,420	Illumina, Inc.*		2,230,457
	7,700	Medpace Holdings, Inc.*		277,739
	61,830	Patheon N.V.*		1,775,139
	6,230	Samsung Biologics Co., Ltd.*		778,879
	48,275	Thermo Fisher Scientific, Inc.		6,811,603

				13,412,785

		Managed Health Care - 9.9%
	36,830	Aetna, Inc.		4,567,288
	24,081	Cigna Corp.		3,212,165
	110,750	UnitedHealth Group, Inc.		17,724,430
	24,190	WellCare Health Plans, Inc.*		3,315,965

				28,819,848

		Pharmaceuticals - 24.5%
	64,652	Allergan plc*		13,577,567
	248,150	AstraZeneca plc ADR		6,779,458
	241,750	Bristol-Myers Squibb Co.		14,127,870
	33,060	Chugai Pharmaceutical Co., Ltd.		948,294
	53,930	Eisai Co., Ltd.		3,090,586
	120,590	Eli Lilly & Co.		8,869,394
	17,489	Hikma Pharmaceuticals plc		407,628
	45,330	Intersect ENT, Inc.*		548,493
	13,785	Johnson & Johnson		1,588,170
	107,500	Medicines Co.*		3,648,550
	160,355	MediWound Ltd.*		729,615
	132,035	Mylan N.V.*		5,037,135
	98,300	MyoKardia, Inc.*		1,272,985
	147,299	Nabriva Therapeutics AG ADR*		876,429
	103,660	Ono Pharmaceutical Co., Ltd.		2,259,230
	66,289	Revance Therapeutics, Inc.*		1,372,182
	41,670	Shionogi & Co., Ltd.		1,991,531
	916,760	Sino Biopharmaceutical Ltd.		642,859
	19,740	Takeda Pharmaceutical Co., Ltd.		818,934
	39,887	UCB S.A.		2,552,008

				71,138,918


		Total Common Stocks (cost $270,304,726)	$	287,672,462


		Total Long-Term Investments (cost $270,304,726)	$	287,672,462

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


		104

Hartford Healthcare HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
SHORT-TERM INVESTMENTS - 1.2%
		Other Investment Pools & Funds - 1.2%
	3,587,569	Fidelity Institutional Government Fund, Institutional Class	$	3,587,569


		Total Short-Term Investments (cost $3,587,569)	$	3,587,569



Total Investments (cost $273,892,295)^{^}	100.2	%	$	291,260,031
Other Assets and Liabilities	(0.2	)%		(616,953	)

Total Net Assets	100.0	%	$	290,643,078

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


		105

Hartford Healthcare HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $280,105,094 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	37,610,106
Unrealized Depreciation		(26,455,169	)

Net Unrealized Appreciation	$	11,154,937

*	Non-income producing.

⁽¹⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $1,386,404, which represents 0.5% of total net assets.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt

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


		106

Hartford Healthcare HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Biotechnology	$	69,702,244	$	67,369,753	$	2,332,491	$	—
Drug Retail		1,123,467		1,123,467		—		—
Health Care Distributors		9,215,732		9,215,732		—		—
Health Care Equipment		71,293,925		71,293,925		—		—
Health Care Facilities		10,250,715		10,250,715		—		—
Health Care Services		3,788,460		3,788,460		—		—
Health Care Supplies		2,905,951		2,905,951		—		—
Health Care Technology		6,020,417		6,020,417		—		—
Life Sciences Tools & Services		13,412,785		13,412,785		—		—
Managed Health Care		28,819,848		28,819,848		—		—
Pharmaceuticals		71,138,918		58,427,848		12,711,070		—
Short-Term Investments		3,587,569		3,587,569		—		—

Total	$	291,260,031	$	276,216,470	$	15,043,561	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

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


		107

Hartford High Yield HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 0.0%
			Asset-Backed-Finance & Insurance - 0.0%
	$	2,490,000	Soundview NIM Trust 8.25%, 12/25/2036^(1)(2)(3)	$	—


			Total Asset & Commercial Mortgage Backed Securities (cost $2,478,959)	$	—


CORPORATE BONDS - 91.7%
			Chemicals - 0.7%
			Chemours Co.
	$	1,645,000	6.63%, 05/15/2023	$	1,628,550
		305,000	7.00%, 05/15/2025		300,425
		335,000	Platform Specialty Products Corp. 6.50%, 02/01/2022⁽¹⁾		337,513

					2,266,488

			Coal - 0.3%
		305,000	Cloud Peak Energy Resources LLC / Cloud Peak Energy Finance Corp. 12.00%, 11/01/2021		317,200
		665,000	Foresight Energy LLC / Foresight Energy Finance Corp. (9% cash, 1% PIK) 10.00%, 08/15/2021⁽¹⁾⁽⁴⁾		648,375

					965,575

			Commercial Banks - 5.5%
			Banco Bilbao Vizcaya Argentaria S.A.
	EUR	2,600,000	7.00%, 02/19/2019^(5)(6)(7)		2,624,788
		400,000	8.88%, 04/14/2021^(5)(6)(7)		452,682
			Barclays plc
	$	800,000	7.88%, 03/15/2022^(5)(6)(7)		810,000
		1,665,000	8.25%, 12/15/2018⁽⁵⁾⁽⁷⁾		1,732,139
		1,080,000	BNP Paribas S.A. 7.63%, 03/30/2021^(1)(5)(7)		1,139,508
		1,555,000	CIT Group, Inc. 5.38%, 05/15/2020		1,652,188
		1,015,000	Credit Agricole S.A. 7.88%, 01/23/2024^(1)(5)(7)		1,025,241
		2,055,000	Credit Suisse Group AG 6.25%, 12/18/2024^(5)(6)(7)		1,999,926
		730,000	Intesa Sanpaolo S.p.A. 7.70%, 09/17/2025^(1)(5)(7)		685,288
		1,675,000	Radian Group, Inc. 7.00%, 03/15/2021		1,863,437
			Royal Bank of Scotland Group plc
		1,505,000	6.99%, 10/05/2017^(1)(5)(7)		1,621,638
		1,000,000	7.64%, 09/30/2017⁽⁵⁾⁽⁷⁾		927,500
		385,000	8.63%, 08/15/2021⁽⁵⁾⁽⁷⁾		392,700
		640,000	Societe Generale S.A. 8.25%, 11/29/2018^(5)(6)(7)		665,638

					17,592,673

			Commercial Services - 1.5%
		1,035,000	APX Group, Inc. 7.88%, 12/01/2022		1,120,387
		1,460,000	Hertz Corp. 5.50%, 10/15/2024⁽¹⁾		1,275,675
		2,385,000	Quad/Graphics, Inc. 7.00%, 05/01/2022		2,325,375

					4,721,437


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 91.7% - (continued)
			Construction Materials - 2.4%
	$	2,380,000	Cemex Finance LLC 6.00%, 04/01/2024⁽¹⁾	$	2,445,450
		1,875,000	Ply Gem Industries, Inc. 6.50%, 02/01/2022		1,935,937
		3,210,000	Standard Industries, Inc. 5.38%, 11/15/2024⁽¹⁾		3,298,275

					7,679,662

			Distribution/Wholesale - 0.2%
		625,000	American Builders & Contractors Supply Co., Inc. 5.75%, 12/15/2023⁽¹⁾		643,750

			Diversified Financial Services - 3.0%
		665,000	FBM Finance, Inc. 8.25%, 08/15/2021⁽¹⁾		701,575
		665,000	International Lease Finance Corp. 5.88%, 08/15/2022		721,525
		2,760,000	Nationstar Mortgage LLC / Nationstar Capital Corp. 6.50%, 07/01/2021		2,794,500
			Navient Corp.
		305,000	5.50%, 01/25/2023		295,850
		335,000	5.88%, 10/25/2024		318,250
		1,510,000	6.13%, 03/25/2024		1,466,587
		280,000	OneMain Financial Holdings LLC 6.75%, 12/15/2019⁽¹⁾		291,900
			Springleaf Finance Corp.
		490,000	5.25%, 12/15/2019		493,675
		675,000	7.75%, 10/01/2021		712,125
		1,730,000	8.25%, 12/15/2020		1,881,375

					9,677,362

			Electric - 0.0%
		415,000	Texas Competitive Electric Holdings Co. LLC 11.50%, 10/01/2020^(1)(2)(3)(8)		—

			Entertainment - 1.2%
			GLP Capital L.P. / GLP Financing II, Inc.
		75,000	4.38%, 04/15/2021		77,813
		1,295,000	5.38%, 04/15/2026		1,350,555
		1,225,000	Pinnacle Entertainment, Inc. 5.63%, 05/01/2024⁽¹⁾		1,228,062
		835,000	Rivers Pittsburgh Borrower L.P. / Rivers Pittsburgh Finance Corp. 6.13%, 08/15/2021⁽¹⁾		853,788
		325,000	WMG Acquisition Corp. 5.00%, 08/01/2023⁽¹⁾		326,625

					3,836,843

			Environmental Control - 0.3%
		835,000	Clean Harbors, Inc. 5.13%, 06/01/2021		853,955
		160,000	Tervita Escrow Corp. 7.63%, 12/01/2021⁽¹⁾		163,200

					1,017,155

			Food - 1.7%
		380,000	Pinnacle Foods Finance LLC / Pinnacle Foods Finance Corp. 5.88%, 01/15/2024		402,800
		2,510,000	Post Holdings, Inc. 5.00%, 08/15/2026⁽¹⁾		2,403,325

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


		108

Hartford High Yield HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 91.7% - (continued)
			Food - 1.7% - (continued)
			TreeHouse Foods, Inc.
	$	2,045,000	4.88%, 03/15/2022	$	2,096,125
		660,000	6.00%, 02/15/2024⁽¹⁾		693,000

					5,595,250

			Healthcare-Products - 2.3%
			Alere, Inc.
		1,685,000	6.38%, 07/01/2023⁽¹⁾		1,674,469
		2,725,000	6.50%, 06/15/2020		2,684,125
		2,895,000	Sterigenics-Nordion Holdings LLC 6.50%, 05/15/2023⁽¹⁾		2,945,662

					7,304,256

			Healthcare-Services - 6.9%
		1,890,000	Amsurg Corp. 5.63%, 07/15/2022		1,948,590
			Community Health Systems, Inc.
		261,000	5.13%, 08/15/2018		255,780
		4,305,000	6.88%, 02/01/2022		2,991,975
		1,565,000	7.13%, 07/15/2020		1,189,869
		1,040,000	Envision Healthcare Corp. 5.13%, 07/01/2022⁽¹⁾		1,036,100
		1,835,000	HCA Holdings, Inc. 6.25%, 02/15/2021		1,974,919
			HCA, Inc.
		1,340,000	5.25%, 06/15/2026		1,385,225
		1,085,000	5.38%, 02/01/2025		1,087,713
		2,104,000	7.50%, 11/15/2095		2,014,580
		535,000	inVentiv Health, Inc. 9.00%, 01/15/2018⁽¹⁾		536,070
		830,000	LifePoint Health, Inc. 5.88%, 12/01/2023		840,375
		945,000	MEDNAX, Inc. 5.25%, 12/01/2023⁽¹⁾		973,350
		350,000	MPH Acquisition Holdings LLC 7.13%, 06/01/2024⁽¹⁾		368,410
			Tenet Healthcare Corp.
		3,305,000	5.00%, 03/01/2019		3,222,375
		500,000	6.75%, 06/15/2023		441,250
		1,955,000	8.13%, 04/01/2022		1,844,542

					22,111,123

			Home Builders - 2.1%
		1,120,000	Beazer Homes USA, Inc. 8.75%, 03/15/2022⁽¹⁾		1,209,600
		2,930,000	KB Home 8.00%, 03/15/2020		3,223,000
		2,115,000	M/I Homes, Inc. 6.75%, 01/15/2021		2,204,887

					6,637,487

			Household Products - 1.0%
		1,255,000	Avon International Operations, Inc. 7.88%, 08/15/2022⁽¹⁾		1,327,163
		1,760,000	Revlon Consumer Products Corp. 6.25%, 08/01/2024		1,804,000

					3,131,163

			Household Products/Wares - 0.2%
		615,000	ACCO Brands Corp. 5.25%, 12/15/2024⁽¹⁾		619,231


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 91.7% - (continued)
			Insurance - 0.1%
	$	415,000	MGIC Investment Corp. 5.75%, 08/15/2023	$	432,638

			Internet - 1.9%
		2,905,000	Netflix, Inc. 5.88%, 02/15/2025		3,133,769
			Zayo Group LLC / Zayo Capital, Inc.
		2,145,000	6.00%, 04/01/2023		2,230,800
		605,000	6.38%, 05/15/2025		632,225

					5,996,794

			Iron/Steel - 2.6%
			AK Steel Corp.
		760,000	7.63%, 05/15/2020		775,200
		1,015,000	7.63%, 10/01/2021		1,089,856
		840,000	8.38%, 04/01/2022		884,100
		705,000	ArcelorMittal 7.25%, 02/25/2022		794,887
		650,000	Signode Industrial Group U.S., Inc. 6.38%, 05/01/2022⁽¹⁾		648,375
		1,130,000	Steel Dynamics, Inc. 5.50%, 10/01/2024		1,197,800
			United States Steel Corp.
		191,000	6.88%, 04/01/2021		192,910
		499,000	7.38%, 04/01/2020		535,178
		315,000	7.50%, 03/15/2022		325,238
		1,645,000	8.38%, 07/01/2021⁽¹⁾		1,818,597

					8,262,141

			IT Services - 0.5%
		1,480,000	Conduent Finance, Inc. / Xerox Business Services LLC 10.50%, 12/15/2024⁽¹⁾		1,583,600

			Lodging - 1.2%
		920,000	Boyd Gaming Corp. 6.38%, 04/01/2026⁽¹⁾		990,840
		1,210,000	FelCor Lodging L.P. 6.00%, 06/01/2025		1,258,400
		1,630,000	Jack Ohio Finance LLC / Jack Ohio Finance Corp. 6.75%, 11/15/2021⁽¹⁾		1,650,375

					3,899,615

			Machinery-Diversified - 0.7%
		1,705,000	Cloud Crane LLC 10.13%, 08/01/2024⁽¹⁾		1,824,350
		536,000	Gardner Denver, Inc. 6.88%, 08/15/2021⁽¹⁾		533,320

					2,357,670

			Media - 10.6%
		635,000	CBS Radio, Inc. 7.25%, 11/01/2024⁽¹⁾		666,750
			CCO Holdings LLC / CCO Holdings Capital Corp.
		120,000	5.13%, 02/15/2023		123,300
		245,000	5.13%, 05/01/2023⁽¹⁾		252,350
		95,000	5.25%, 09/30/2022		98,325
		545,000	5.75%, 09/01/2023		569,525
		105,000	5.75%, 01/15/2024		109,725
		1,355,000	5.75%, 02/15/2026⁽¹⁾		1,402,425
		3,675,000	Cequel Communications Holdings I LLC / Cequel Capital Corp. 5.13%, 12/15/2021⁽¹⁾		3,739,313

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


		109

Hartford High Yield HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 91.7% - (continued)
			Media - 10.6% - (continued)
	$	520,000	Clear Channel Worldwide Holdings, Inc. 7.63%, 03/15/2020	$	519,672
			CSC Holdings LLC
		1,560,000	5.25%, 06/01/2024		1,524,900
		760,000	10.13%, 01/15/2023⁽¹⁾		877,800
		750,000	10.88%, 10/15/2025⁽¹⁾		892,500
			DISH DBS Corp.
		2,170,000	5.00%, 03/15/2023		2,159,150
		1,095,000	5.88%, 07/15/2022		1,152,487
		945,000	6.75%, 06/01/2021		1,025,325
		1,191,000	7.88%, 09/01/2019		1,322,010
			Gray Television, Inc.
		515,000	5.13%, 10/15/2024⁽¹⁾		498,263
		380,000	5.88%, 07/15/2026⁽¹⁾		377,150
		2,625,000	Liberty Interactive LLC 8.25%, 02/01/2030		2,795,625
		1,130,000	NBCUniversal Enterprise, Inc. 5.25%, 03/19/2021⁽¹⁾⁽⁵⁾		1,186,500
		2,370,000	SFR Group S.A. 7.38%, 05/01/2026⁽¹⁾		2,429,250
			Sinclair Television Group, Inc.
		520,000	5.13%, 02/15/2027⁽¹⁾		494,000
		1,055,000	5.88%, 03/15/2026⁽¹⁾		1,057,637
			TEGNA, Inc.
		1,515,000	4.88%, 09/15/2021⁽¹⁾		1,541,512
		2,865,000	5.13%, 10/15/2019		2,940,206
		750,000	6.38%, 10/15/2023		793,613
		3,495,000	Tribune Media Co. 5.88%, 07/15/2022		3,551,794

					34,101,107

			Metal Fabricate/Hardware - 0.5%
			Novelis Corp.
		605,000	5.88%, 09/30/2026⁽¹⁾		611,050
		1,115,000	6.25%, 08/15/2024⁽¹⁾		1,181,900

					1,792,950

			Mining - 2.0%
			Anglo American Capital plc
		260,000	4.13%, 04/15/2021⁽¹⁾		264,550
		1,330,000	4.88%, 05/14/2025⁽¹⁾		1,348,287
		395,000	9.38%, 04/08/2019⁽¹⁾		451,288
		1,345,000	Constellium N.V. 7.88%, 04/01/2021⁽¹⁾		1,445,875
		1,290,000	Kaiser Aluminum Corp. 5.88%, 05/15/2024		1,335,150
		105,000	New Gold, Inc. 6.25%, 11/15/2022⁽¹⁾		107,625
			Teck Resources Ltd.
		465,000	8.00%, 06/01/2021⁽¹⁾		511,500
		970,000	8.50%, 06/01/2024⁽¹⁾		1,117,925

					6,582,200

			Miscellaneous Manufacturing - 0.8%
		2,665,000	Bombardier, Inc. 6.13%, 01/15/2023⁽¹⁾		2,540,811

			Office/Business Equipment - 0.6%
			CDW LLC / CDW Finance Corp.
		885,000	5.00%, 09/01/2023		886,106
		970,000	5.50%, 12/01/2024		991,825

					1,877,931


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 91.7% - (continued)
			Oil & Gas - 13.4%
			Anadarko Petroleum Corp.
	$	130,000	4.85%, 03/15/2021	$	139,391
		90,000	5.55%, 03/15/2026		100,733
			Antero Resources Corp.
		810,000	5.63%, 06/01/2023		829,237
		1,470,000	6.00%, 12/01/2020		1,514,100
		2,120,000	Blue Racer Midstream LLC / Blue Racer Finance Corp. 6.13%, 11/15/2022⁽¹⁾		2,120,000
		3,720,000	California Resources Corp. 8.00%, 12/15/2022⁽¹⁾		3,310,800
		345,000	Callon Petroleum Co. 6.13%, 10/01/2024⁽¹⁾		355,350
			Concho Resources, Inc.
		1,910,000	5.50%, 10/01/2022		1,979,237
		325,000	5.50%, 04/01/2023		336,798
			Continental Resources, Inc.
		475,000	3.80%, 06/01/2024		438,188
		265,000	4.50%, 04/15/2023		259,700
		2,015,000	4.90%, 06/01/2044		1,722,825
		1,005,000	5.00%, 09/15/2022		1,014,437
		2,100,000	Denbury Resources, Inc. 9.00%, 05/15/2021⁽¹⁾		2,273,250
		190,000	Diamondback Energy, Inc. 4.75%, 11/01/2024⁽¹⁾		186,200
		1,430,000	Energen Corp. 4.63%, 09/01/2021		1,433,575
		1,540,000	Ensco plc 5.75%, 10/01/2044		1,116,500
			Laredo Petroleum, Inc.
		740,000	5.63%, 01/15/2022		745,550
		1,360,000	6.25%, 03/15/2023		1,407,600
		670,000	7.38%, 05/01/2022		694,288
			Matador Resources Co.
		315,000	6.88%, 04/15/2023⁽¹⁾		330,750
		1,320,000	6.88%, 04/15/2023		1,386,000
			MEG Energy Corp.
		900,000	6.38%, 01/30/2023⁽¹⁾		801,000
		1,545,000	7.00%, 03/31/2024⁽¹⁾		1,398,225
			Noble Holding International Ltd.
		1,230,000	6.20%, 08/01/2040		879,450
		1,220,000	7.75%, 01/15/2024		1,147,532
		390,000	PDC Energy, Inc. 6.13%, 09/15/2024⁽¹⁾		398,775
			QEP Resources, Inc.
		2,185,000	5.25%, 05/01/2023		2,190,462
		205,000	5.38%, 10/01/2022		205,513
		245,000	6.80%, 03/01/2020		254,800
			Rice Energy, Inc.
		635,000	6.25%, 05/01/2022		652,463
		515,000	7.25%, 05/01/2023		545,900
		870,000	Rowan Cos., Inc. 5.85%, 01/15/2044		674,250
		1,140,000	RSP Permian, Inc. 6.63%, 10/01/2022		1,205,550
			SM Energy Co.
		1,755,000	5.00%, 01/15/2024		1,654,087
		15,000	5.63%, 06/01/2025		14,475
		240,000	6.13%, 11/15/2022		243,000
		115,000	6.50%, 11/15/2021		117,300
		150,000	6.75%, 09/15/2026		154,500

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


		110

Hartford High Yield HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 91.7% - (continued)
			Oil & Gas - 13.4% - (continued)
			Transocean, Inc.
	$	355,000	6.80%, 03/15/2038	$	275,125
		110,000	7.50%, 04/15/2031		92,950
		435,000	9.10%, 12/15/2041		393,675
			Tullow Oil plc
		1,015,000	6.00%, 11/01/2020⁽¹⁾		966,787
		1,755,000	6.25%, 04/15/2022⁽¹⁾		1,632,150
			WPX Energy, Inc.
		2,000,000	5.25%, 09/15/2024		1,940,000
		1,420,000	6.00%, 01/15/2022		1,455,500
		295,000	8.25%, 08/01/2023		329,663

					43,317,641

			Oil & Gas Services - 0.1%
			Weatherford International Ltd.
		250,000	5.95%, 04/15/2042		188,750
		100,000	6.50%, 08/01/2036		80,250
		250,000	7.00%, 03/15/2038		208,125

					477,125

			Packaging & Containers - 4.5%
		1,700,000	ARD Finance S.A. (cash) 7.13%, 09/15/2023⁽¹⁾⁽⁴⁾		1,678,750
			Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.
		2,065,000	6.00%, 06/30/2021⁽¹⁾		2,101,137
		550,000	6.75%, 01/31/2021⁽¹⁾		566,500
		305,000	7.25%, 05/15/2024⁽¹⁾		321,394
	EUR	315,000	Ball Corp. 3.50%, 12/15/2020		366,242
	$	2,060,000	Berry Plastics Corp. 6.00%, 10/15/2022		2,178,450
			Owens-Brockway Glass Container, Inc.
		1,795,000	5.88%, 08/15/2023⁽¹⁾		1,871,288
		2,215,000	6.38%, 08/15/2025⁽¹⁾		2,336,825
			Reynolds Group Issuer, Inc.
		2,070,000	5.13%, 07/15/2023⁽¹⁾		2,113,987
		805,000	7.00%, 07/15/2024⁽¹⁾		855,816
		156,057	8.25%, 02/15/2021		161,129

					14,551,518

			Pharmaceuticals - 4.3%
			Endo Finance LLC
		1,161,000	6.00%, 07/15/2023⁽¹⁾		1,017,326
		3,075,000	6.50%, 02/01/2025⁽¹⁾		2,575,312
		1,908,000	PRA Holdings, Inc. 9.50%, 10/01/2023⁽¹⁾		2,089,260
		2,050,000	Quintiles IMS, Inc. 4.88%, 05/15/2023⁽¹⁾		2,080,750
			Valeant Pharmaceuticals International, Inc.
		1,320,000	5.50%, 03/01/2023⁽¹⁾		990,000
		4,930,000	5.88%, 05/15/2023⁽¹⁾		3,722,150
		1,230,000	6.13%, 04/15/2025⁽¹⁾		924,038
		445,000	Vizient, Inc. 10.38%, 03/01/2024⁽¹⁾		503,963

					13,902,799

			Pipelines - 1.5%
			Energy Transfer Equity L.P.
		1,615,000	5.50%, 06/01/2027		1,574,625
		1,773,000	7.50%, 10/15/2020		1,976,895


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 91.7% - (continued)
			Pipelines - 1.5% - (continued)
	$	1,100,000	Targa Resources Partners L.P. / Targa Resources Partners Finance Corp. 6.75%, 03/15/2024	$	1,179,750

					4,731,270

			REITS - 0.4%
		1,110,000	Equinix, Inc. 5.88%, 01/15/2026		1,168,275

			Retail - 2.3%
		1,945,000	CEC Entertainment, Inc. 8.00%, 02/15/2022		1,983,900
		1,480,000	L Brands, Inc. 6.88%, 11/01/2035		1,509,600
		2,315,000	Michaels Stores, Inc. 5.88%, 12/15/2020⁽¹⁾		2,384,450
		1,440,000	Party City Holdings, Inc. 6.13%, 08/15/2023⁽¹⁾		1,504,800

					7,382,750

			Semiconductors - 1.8%
		1,625,000	Entegris, Inc. 6.00%, 04/01/2022⁽¹⁾		1,690,000
		1,865,000	Micron Technology, Inc. 5.50%, 02/01/2025		1,855,675
			Sensata Technologies B.V.
		1,221,000	5.00%, 10/01/2025⁽¹⁾		1,196,580
		900,000	5.63%, 11/01/2024⁽¹⁾		938,250

					5,680,505

			Software - 4.2%
		1,060,000	Camelot Finance S.A. 7.88%, 10/15/2024⁽¹⁾		1,097,100
			Change Healthcare Holdings, Inc.
		1,140,000	6.00%, 02/15/2021⁽¹⁾		1,191,300
		1,640,000	11.00%, 12/31/2019		1,693,300
			First Data Corp.
		1,425,000	5.38%, 08/15/2023⁽¹⁾		1,478,437
		2,391,000	5.75%, 01/15/2024⁽¹⁾		2,467,225
		1,580,000	7.00%, 12/01/2023⁽¹⁾		1,682,700
		684,000	Infor Software Parent LLC (cash) 7.13%, 05/01/2021⁽¹⁾⁽⁴⁾		704,520
		2,075,000	Infor US, Inc. 6.50%, 05/15/2022		2,163,187
		625,000	MSCI, Inc. 5.75%, 08/15/2025⁽¹⁾		664,063
		445,000	RP Crown Parent LLC 7.38%, 10/15/2024⁽¹⁾		461,688

					13,603,520

			Telecommunications - 8.4%
			Alcatel-Lucent USA, Inc.
		2,681,000	6.45%, 03/15/2029		2,794,942
		765,000	6.50%, 01/15/2028		789,863
			Altice Financing S.A.
		485,000	6.50%, 01/15/2022⁽¹⁾		505,613
		380,000	6.63%, 02/15/2023⁽¹⁾		390,450
		2,840,000	7.50%, 05/15/2026⁽¹⁾		2,953,600
			Frontier Communications Corp.
		840,000	10.50%, 09/15/2022		883,092
		1,085,000	11.00%, 09/15/2025		1,120,263
			Level 3 Financing, Inc.
		970,000	5.13%, 05/01/2023		973,638

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


		111

Hartford High Yield HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 91.7% - (continued)
			Telecommunications - 8.4% - (continued)
			Level 3 Financing, Inc. - (continued)
	$	1,080,000	5.25%, 03/15/2026⁽¹⁾	$	1,069,200
		2,515,000	5.38%, 08/15/2022		2,596,737
		920,000	5.63%, 02/01/2023		943,000
			Sprint Communications, Inc.
		507,000	7.00%, 03/01/2020⁽¹⁾		550,095
		3,092,000	9.00%, 11/15/2018⁽¹⁾		3,408,930
			Sprint Corp.
		100,000	7.13%, 06/15/2024		103,000
		2,495,000	7.25%, 09/15/2021		2,650,937
		2,005,000	7.88%, 09/15/2023		2,140,337
		1,600,000	T-Mobile USA, Inc. 6.46%, 04/28/2019		1,628,000
			Wind Acquisition Finance S.A.
	EUR	1,395,000	4.00%, 07/15/2020⁽¹⁾		1,495,423
	$	215,000	6.50%, 04/30/2020⁽¹⁾		223,600

					27,220,720


			Total Corporate Bonds (cost $288,789,405)	$	295,263,035


SENIOR FLOATING RATE INTERESTS - 0.8%⁽⁹⁾
			Insurance - 0.2%
	$	550,000	Asurion LLC 8.50%, 03/03/2021	$	558,596

			Internet - 0.3%
		1,273,091	Lands’ End, Inc. 4.25%, 04/04/2021		950,579

			Machinery-Diversified - 0.3%
		969,653	Gardner Denver, Inc. 4.57%, 07/30/2020		958,968


			Total Senior Floating Rate Interests (cost $2,773,280)	$	2,468,143


CONVERTIBLE BONDS - 1.0%
			Home Builders - 0.2%
	$	566,000	M/I Homes, Inc. 3.00%, 03/01/2018	$	576,613

			Insurance - 0.3%
		680,000	MGIC Investment Corp. 2.00%, 04/01/2020		1,008,100

			Internet - 0.3%
		790,000	Zillow Group, Inc. 2.00%, 12/01/2021⁽¹⁾		811,231

			Oil & Gas - 0.2%
		1,790,000	Cobalt International Energy, Inc. 2.63%, 12/01/2019		702,575


			Total Convertible Bonds (cost $4,065,260)	$	3,098,519


COMMON STOCKS - 1.4%
			Energy - 0.8%
		206,275,142	KCA Deutag*^(1)(3)(8)	$	2,652,079

			Pharmaceuticals, Biotechnology & Life Sciences - 0.2%
		33,000	Endo International plc*		543,510


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 1.4% - (continued)
		Utilities - 0.4%
	4,525,000	TCEH Corp.*⁽³⁾⁽⁸⁾	$	5
	82,554	Vistra Energy Corp.		1,279,587

				1,279,592


		Total Common Stocks (cost $5,093,571)	$	4,475,181


		Total Long-Term Investments (cost $303,200,475)	$	305,304,878


SHORT-TERM INVESTMENTS - 3.6%
		Other Investment Pools & Funds - 3.6%
	11,751,273	Fidelity Institutional Government Fund, Institutional Class	$	11,751,273


		Total Short-Term Investments (cost $11,751,273)	$	11,751,273




Total Investments (cost $314,951,748)^{^}	98.5	%	$	317,056,151
Other Assets and Liabilities	1.5	%		4,728,843

Total Net Assets	100.0	%	$	321,784,994

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


		112

Hartford High Yield HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

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.

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $315,099,797 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	12,468,593
Unrealized Depreciation		(10,512,239	)

Net Unrealized Appreciation	$	1,956,354

*	Non-income producing.

⁽¹⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $135,561,078, which represents 42.1% of total net assets.

⁽²⁾	Non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.

⁽³⁾

These securities are valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of these securities was $2,652,084, which represents 0.8% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

⁽⁴⁾	Security has the ability to pay in kind (“PIK”) or pay income in cash. When applicable, separate rates of such payments are disclosed.

⁽⁵⁾	Perpetual maturity security. Maturity date shown is the next call date or final legal maturity date, whichever comes first.

⁽⁶⁾

These securities were sold to the Fund under Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, as amended. The Fund may only be able to resell these securities in the United States if an exemption from registration under the federal and state securities laws is available, or the Fund may only be able to sell these securities outside of the United States (such as on a foreign exchange) to a non-U.S. person. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $6,553,034, which represents 2.0% of total net assets.

⁽⁷⁾	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2016.

⁽⁸⁾


Period Acquired	Shares/ Par		Security	Cost Basis
03/2011		206,275,142	KCA Deutag	$	2,795,441
10/2016		4,525,000	TCEH Corp.		—
10/2016	$	415,000	Texas Competitive Electric Holdings Co. LLC		—

				$	2,795,441

At December 31, 2016, the aggregate value of these securities was $2,652,084, which represents 0.8% of total net assets.

⁽⁹⁾

Senior floating rate interests generally pay interest rates which are periodically adjusted by reference to a base short-term, floating lending rate plus a premium. The base lending rates are primarily the LIBOR, and secondarily the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit rate or other base lending rates used by commercial lenders. 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. Unless otherwise noted, the interest rate disclosed for these securities represents the average coupon as of December 31, 2016.

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


		113

Hartford High Yield HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Centrally Cleared Credit Default Swap Contracts Outstanding at December 31, 2016
Reference Entity	Notional Amount^(a)		(Pay)/Receive Fixed Rate			Expiration Date	Cost Basis		Market Value^†		Unrealized Appreciation/ (Depreciation)
Credit default swaps on indices:
Sell protection:
CDX.NA.HY.27	USD	11,290,000		5.00	%	12/20/21	$	396,196	$	698,698	$	302,502

Total							$	396,196	$	698,698	$	302,502

^(a)	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

Foreign Currency Contracts Outstanding at December 31, 2016

Currency

Buy/Sell

Delivery
Date

Counterparty

Contract
Amount

Market
Value^†

Unrealized
Appreciation/
(Depreciation)

EUR

Sell

01/31/17

BCLY

4,736,005

4,777,443

(41,438

)

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Counterparty Abbreviations:
BCLY		Barclays

Currency Abbreviations:
EUR		Euro
USD		United States Dollar


Index Abbreviations:
CDX.NA.HY		Credit Derivatives North American High Yield

Other Abbreviations:
MSCI		Morgan Stanley Capital International
PIK		Pay in kind

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


		114

Hartford High Yield HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total			Level 1⁽¹⁾		Level 2⁽¹⁾			Level 3⁽¹⁾
Assets
Asset & Commercial Mortgage Backed Securities	$	—		$	—	$	—		$	—
Corporate Bonds		295,263,035			—		295,263,035			—
Senior Floating Rate Interests		2,468,143			—		2,468,143			—
Convertible Bonds		3,098,519			—		3,098,519			—
Common Stocks
Energy		2,652,079			—		—			2,652,079
Pharmaceuticals, Biotechnology & Life Sciences		543,510			543,510		—			—
Utilities		1,279,592			1,279,587		—			5
Short-Term Investments		11,751,273			11,751,273		—			—
Swaps - Credit Default⁽²⁾		302,502			—		302,502			—

Total	$	317,358,653		$	13,574,370	$	301,132,199		$	2,652,084

Liabilities
Foreign Currency Contracts⁽²⁾	$	(41,438	)	$	—	$	(41,438	)	$	—

Total	$	(41,438	)	$	—	$	(41,438	)	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

⁽²⁾	Derivative instruments (excluding purchased and written options, if applicable) are valued at the unrealized appreciation/depreciation on the investments.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks		Corporate Bonds		Total
Beginning balance	$	921,843	$	—	$	921,843
Purchases		—		—		—
Sales		—		—		—
Accrued discounts/(premiums)		—		—		—
Total realized gain/(loss)		—		—		—
Net change in unrealized appreciation/depreciation		1,730,241		—		1,730,241
Transfers into Level 3		—		—		—
Transfers out of Level 3		—		—		—

Ending balance	$	2,652,084	$	—	$	2,652,084

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $1,730,241.

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


		115

Hartford International Opportunities HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.1%
		Australia - 1.4%
	345,936	BHP Billiton plc	$	5,508,344
	1,873,205	South32 Ltd.		3,687,501
	1,119,417	Westfield Corp. REIT		7,568,866

				16,764,711

		Belgium - 1.9%
	225,819	Anheuser-Busch InBev N.V.		23,901,586

		Brazil - 1.5%
	570,560	BB Seguridade Participacoes S.A.		4,961,087
	1,336,094	Petroleo Brasileiro S.A. ADR*		13,507,910

				18,468,997

		Canada - 8.0%
	49,430	Alimentation Couche-Tard, Inc. Class B		2,241,313
	501,935	Canadian National Railway Co.		33,780,097
	410,490	Imperial Oil Ltd.		14,280,704
	536,150	Magna International, Inc.		23,280,486
	582,860	Manulife Financial Corp.		10,379,609
	330,160	TransCanada Corp.		14,886,893

				98,849,102

		China - 4.4%
	277,091	Alibaba Group Holding Ltd. ADR*		24,331,361
	64,849	Baidu, Inc. ADR*		10,661,824
	7,001,190	CNOOC Ltd.		8,700,620
	6,868,000	PICC Property & Casualty Co., Ltd. Class H		10,622,540

				54,316,345

		France - 15.0%
	355,787	Airbus Group SE		23,499,257
	950,482	AXA S.A.		23,960,498
	416,411	BNP Paribas S.A.		26,499,527
	272,586	Capgemini S.A.		22,965,129
	67,404	Cie de Saint-Gobain		3,135,456
	116,004	Essilor International S.A.		13,088,525
	34,363	LVMH Moet Hennessy Louis Vuitton SE		6,552,049
	296,983	Schneider Electric SE		20,630,948
	72,622	Technip S.A.		5,172,993
	446,766	Total S.A.		22,915,567
	70,723	Unibail-Rodamco SE REIT		16,853,621

				185,273,570

		Germany - 7.9%
	287,835	Beiersdorf AG		24,381,891
	161,312	Brenntag AG		8,941,333
	61,887	Continental AG		11,922,951
	403,311	Deutsche Wohnen AG		12,650,448
	1,403,704	E.ON SE		9,874,976
	105,789	Siemens AG		12,952,799
	509,407	Vonovia SE		16,539,099

				97,263,497

		Hong Kong - 1.0%
	499,107	Hong Kong Exchanges and Clearing Ltd.		11,738,184

		India - 2.3%
	1,781,012	Bharti Infratel Ltd.		9,000,582
	71,708	Divi’s Laboratories Ltd.		826,011
	4,154,534	ICICI Bank Ltd.		15,554,930
	898,487	Power Grid Corp. of India Ltd.		2,424,258

				27,805,781


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.1% - (continued)
		Ireland - 0.7%
	234,114	CRH plc	$	8,118,885

		Israel - 0.3%
	111,730	Mobileye N.V.*		4,259,148

		Italy - 5.4%
	758,478	Assicurazioni Generali S.p.A.		11,242,431
	293,963	Banca Generali S.p.A.		6,991,827
	1,530,130	Eni S.p.A.		24,805,051
	930,080	FinecoBank Banca Fineco S.p.A.		5,200,250
	125,620	Luxottica Group S.p.A.		6,751,627
	9,244,952	Saipem S.p.A.*		5,170,814
	4,135,580	Telecom Italia S.p.A.*		3,651,460
	784,500	UniCredit S.p.A.		2,252,872

				66,066,332

		Japan - 11.6%
	10,210	Daito Trust Construction Co., Ltd.		1,534,948
	347,065	Daiwa House Industry Co., Ltd.		9,464,589
	94,522	Eisai Co., Ltd.		5,416,806
	71,900	FANUC Corp.		12,028,466
	705,000	ITOCHU Corp.		9,334,732
	806,700	Kawasaki Heavy Industries Ltd.		2,525,104
	975,800	Mitsubishi Heavy Industries Ltd.		4,436,027
	480,560	Mitsui Fudosan Co., Ltd.		11,125,202
	61,930	Murata Manufacturing Co., Ltd.		8,269,929
	208,490	Nippon Telegraph & Telephone Corp.		8,776,415
	589,000	Nomura Holdings, Inc.		3,482,264
	77,195	Olympus Corp.		2,659,734
	169,490	Omron Corp.		6,477,054
	304,374	Ono Pharmaceutical Co., Ltd.		6,633,714
	434,300	Seven & I Holdings Co., Ltd.		16,516,070
	261,380	Sony Financial Holdings, Inc.		4,074,502
	694,130	Sumitomo Mitsui Financial Group, Inc.		26,434,526
	97,043	Tokio Marine Holdings, Inc.		3,973,236

				143,163,318

		Luxembourg - 0.6%
	325,461	SES S.A.		7,161,050

		Mexico - 1.5%
	776,070	America Movil S.A.B. de C.V. Class L, ADR		9,755,200
	1,153,300	Grupo Financiero Banorte S.A.B. de C.V. Series O		5,680,363
	204,500	Infraestructura Energetica Nova, S.A.B. de C.V.		890,818
	1,135,300	Wal-Mart de Mexico S.A.B. de C.V.		2,031,854

				18,358,235

		Netherlands - 2.8%
	300,471	AerCap Holdings N.V.*		12,502,599
	138,508	Akzo Nobel N.V.		8,654,918
	646,449	Koninklijke Ahold Delhaize N.V.		13,616,153

				34,773,670

		Russia - 0.9%
	1,707,910	Rosneft Oil Co. PJSC GDR		11,092,078

		South Africa - 0.4%
	1,419,611	FirstRand Ltd.		5,478,008

		South Korea - 4.0%
	49,246	Hyundai Motor Co.		5,940,914
	5,483	LG Household & Health Care Ltd.		3,890,141
	26,051	Samsung Biologics Co., Ltd.*		3,256,914
	19,635	Samsung Electronics Co., Ltd.		29,223,007

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


		116

Hartford International Opportunities HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.1% - (continued)
		South Korea - 4.0% - (continued)
	188,590	SK Hynix, Inc.	$	6,939,373

				49,250,349

		Spain - 3.1%
	4,459,169	Banco Santander S.A.		23,197,805
	2,316,646	CaixaBank S.A.		7,635,146
	32,554	Industria de Diseno Textil S.A.		1,108,984
	448,123	Repsol S.A.		6,297,534

				38,239,469

		Sweden - 0.6%
	430,682	SKF AB Class B		7,897,056

		Switzerland - 8.8%
	467,516	ABB Ltd.*		9,837,335
	257,463	Credit Suisse Group AG*		3,679,411
	293,458	Julius Baer Group Ltd.*		13,000,696
	495,637	LafargeHolcim Ltd.*		26,017,012
	462,113	Novartis AG		33,606,447
	83,036	Zurich Insurance Group AG*		22,819,938

				108,960,839

		Taiwan - 2.3%
	5,164,255	Taiwan Semiconductor Manufacturing Co., Ltd.		28,926,302

		United Kingdom - 12.7%
	698,028	Anglo American plc*		9,862,321
	407,079	Antofagasta plc		3,370,472
	196,006	AstraZeneca plc		10,703,443
	2,108,723	Aviva plc		12,560,876
	1,073,688	Barclays plc		2,946,571
	441,729	British American Tobacco plc		25,035,152
	207,186	Compass Group plc		3,829,117
	7,458,165	Glencore plc*		25,200,266
	295,978	Hikma Pharmaceuticals plc		6,898,560
	1,153,094	International Consolidated Airlines Group S.A.		6,247,928
	343,763	Sky plc		4,190,790
	754,968	Unilever N.V.		31,013,189
	674,782	WPP plc		15,016,204

				156,874,889


		Total Common Stocks (cost $1,188,971,766)	$	1,223,001,401


RIGHTS - 0.0%
		Spain - 0.0%
	448,123	Repsol S.A.*	$	166,044


		Total Rights (cost $156,764)	$	166,044


		Total Long-Term Investments (cost $1,189,128,530)	$	1,223,167,445


Shares or Principal Amount			Market Value^†
SHORT-TERM INVESTMENTS - 0.7%
		Other Investment Pools & Funds - 0.7%
	8,259,175	BlackRock Liquidity Funds TempFund Portfolio, Institutional Class	$	8,259,175


		Total Short-Term Investments (cost $8,259,175)	$	8,259,175



Total Investments (cost $1,197,387,705)^{^}	99.8	%	$	1,231,426,620
Other Assets and Liabilities	0.2	%		2,678,572

Total Net Assets	100.0	%	$	1,234,105,192

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


		117

Hartford International Opportunities HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $1,204,375,613 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	68,655,757
Unrealized Depreciation		(41,604,750	)

Net Unrealized Appreciation	$	27,051,007

*	Non-income producing.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt
GDR		Global Depositary Receipt
PJSC		Private Joint Stock Company
REIT		Real Estate Investment Trust

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


		118

Hartford International Opportunities HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Australia	$	16,764,711	$	—	$	16,764,711	$	—
Belgium		23,901,586		23,901,586		—		—
Brazil		18,468,997		18,468,997		—		—
Canada		98,849,102		98,849,102		—		—
China		54,316,345		34,993,185		19,323,160		—
France		185,273,570		—		185,273,570		—
Germany		97,263,497		—		97,263,497		—
Hong Kong		11,738,184		—		11,738,184		—
India		27,805,781		—		27,805,781		—
Ireland		8,118,885		—		8,118,885		—
Israel		4,259,148		4,259,148		—		—
Italy		66,066,332		—		66,066,332		—
Japan		143,163,318		—		143,163,318		—
Luxembourg		7,161,050		—		7,161,050		—
Mexico		18,358,235		18,358,235		—		—
Netherlands		34,773,670		12,502,599		22,271,071		—
Russia		11,092,078		—		11,092,078		—
South Africa		5,478,008		—		5,478,008		—
South Korea		49,250,349		3,256,914		45,993,435		—
Spain		38,239,469		—		38,239,469		—
Sweden		7,897,056		—		7,897,056		—
Switzerland		108,960,839		—		108,960,839		—
Taiwan		28,926,302		—		28,926,302		—
United Kingdom		156,874,889		—		156,874,889		—
Rights		166,044		166,044		—		—
Short-Term Investments		8,259,175		8,259,175		—		—

Total	$	1,231,426,620	$	223,014,985	$	1,008,411,635	$	—

⁽¹⁾	For the year ended December 31, 2016, investments valued at $25,101,348 were transferred from Level 1 to Level 2 due to the application of a fair valuation factor; there were no transfers from Level 2 to Level 1 and there were no transfers in and out of Level 3.

Note:

For purposes of reporting transfers between different hierarchy levels, both transfers in and out of each level, as applicable, are shown as if they occurred at the beginning of the period.

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


		119

Hartford MidCap HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.7%
		Automobiles & Components - 1.5%
	459,793	Harley-Davidson, Inc.	$	26,824,324

		Banks - 5.4%
	83,459	Cullen/Frost Bankers, Inc.		7,363,588
	153,490	East West Bancorp, Inc.		7,801,897
	33,096	First Citizens BancShares, Inc. Class A		11,749,080
	291,288	First Republic Bank		26,839,276
	286,664	M&T Bank Corp.		44,842,849

				98,596,690

		Capital Goods - 9.8%
	619,942	Allison Transmission Holdings, Inc.		20,885,846
	326,554	Fastenal Co.		15,341,507
	180,140	Heico Corp. Class A		12,231,506
	353,294	IDEX Corp.		31,817,658
	226,182	Lennox International, Inc.		34,644,297
	73,326	Middleby Corp.*		9,445,122
	210,484	MSC Industrial Direct Co., Inc. Class A		19,446,617
	475,880	NOW, Inc.*		9,741,263
	274,478	PACCAR, Inc.		17,539,144
	181,265	Sensata Technologies Holding N.V.*		7,060,272

				178,153,232

		Commercial & Professional Services - 8.0%
	135,955	Cintas Corp.		15,710,960
	110,881	Dun & Bradstreet Corp.		13,452,083
	221,442	Equifax, Inc.		26,181,088
	595,179	Robert Half International, Inc.		29,032,831
	918,327	TransUnion*		28,403,854
	73,241	UniFirst Corp.		10,521,070
	269,179	Waste Connections, Inc.		21,154,777

				144,456,663

		Consumer Durables & Apparel - 1.5%
	15,807	NVR, Inc.*		26,381,883

		Consumer Services - 1.0%
	337,837	Choice Hotels International, Inc.		18,935,764

		Diversified Financials - 5.2%
	137,714	Factset Research Systems, Inc.		22,506,599
	191,184	Invesco Ltd.		5,800,523
	120,251	Moody’s Corp.		11,336,062
	231,324	MSCI, Inc.		18,223,705
	246,021	Northern Trust Corp.		21,908,170
	304,757	SEI Investments Co.		15,042,805

				94,817,864

		Energy - 6.5%
	94,216	Cimarex Energy Co.		12,803,954
	127,955	Diamondback Energy, Inc.*		12,931,132
	162,257	Energen Corp.		9,357,361
	300,762	Newfield Exploration Co.*		12,180,861
	325,043	Parsley Energy, Inc. Class A*		11,454,515
	541,418	Patterson-UTI Energy, Inc.		14,574,973
	719,698	QEP Resources, Inc.		13,249,640
	249,993	SM Energy Co.		8,619,759
	209,426	World Fuel Services Corp.		9,614,748
	963,139	WPX Energy, Inc.*		14,032,935

				118,819,878

		Food & Staples Retailing - 0.7%
	148,155	PriceSmart, Inc.		12,370,943


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.7% - (continued)
		Health Care Equipment & Services - 4.1%
	242,865	DENTSPLY SIRONA, Inc.	$	14,020,596
	375,461	Patterson Cos., Inc.		15,405,165
	248,167	STERIS plc		16,723,974
	59,514	Teleflex, Inc.		9,590,681
	202,623	Varian Medical Systems, Inc.*		18,191,493

				73,931,909

		Insurance - 5.4%
	29,304	Alleghany Corp.*		17,820,349
	38,198	Fairfax Financial Holdings Ltd.		18,449,635
	38,271	Markel Corp.*		34,616,120
	15,268	White Mountains Insurance Group Ltd.		12,764,811
	212,420	WR Berkley Corp.		14,128,054

				97,778,969

		Materials - 3.4%
	264,170	Ball Corp.		19,831,242
	256,074	Packaging Corp. of America		21,720,197
	39,898	Sherwin-Williams Co.		10,722,188
	200,051	Silgan Holdings, Inc.		10,238,610

				62,512,237

		Pharmaceuticals, Biotechnology & Life Sciences - 10.1%
	220,419	Agios Pharmaceuticals, Inc.*		9,198,085
	485,052	Alkermes plc*		26,959,190
	172,133	Alnylam Pharmaceuticals, Inc.*		6,444,660
	1,165,710	ARIAD Pharmaceuticals, Inc.*		14,501,432
	174,261	Bluebird Bio, Inc.*		10,751,904
	417,556	Ionis Pharmaceuticals, Inc.*		19,971,703
	935,617	Ironwood Pharmaceuticals, Inc.*		14,305,584
	61,942	Mettler-Toledo International, Inc.*		25,926,444
	356,089	Puma Biotechnology, Inc.*		10,931,932
	123,861	TESARO, Inc.*		16,656,827
	187,268	Ultragenyx Pharmaceutical, Inc.*		13,166,813
	112,277	Waters Corp.*		15,088,906

				183,903,480

		Retailing - 3.6%
	213,959	Advance Auto Parts, Inc.		36,184,746
	440,564	CarMax, Inc.*		28,367,916

				64,552,662

		Semiconductors & Semiconductor Equipment - 0.9%
	261,049	MKS Instruments, Inc.		15,506,311

		Software & Services - 16.6%
	400,524	Akamai Technologies, Inc.*		26,706,940
	265,119	Blackbaud, Inc.		16,967,616
	749,380	Cadence Design Systems, Inc.*		18,899,364
	14,373	CoStar Group, Inc.*		2,709,167
	1,495,712	Genpact Ltd.*		36,405,630
	436,635	Global Payments, Inc.		30,306,835
	411,108	Guidewire Software, Inc.*		20,279,958
	197,364	ServiceNow, Inc.*		14,672,040
	442,924	Total System Services, Inc.		21,716,564
	504,066	Vantiv, Inc. Class A*		30,052,415
	352,260	VeriSign, Inc.*		26,796,418
	261,947	WEX, Inc.*		29,233,285
	269,182	Zillow Group, Inc. Class A*		9,811,684
	469,111	Zillow Group, Inc. Class C*		17,108,478

				301,666,394

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


		120

Hartford MidCap HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.7% - (continued)
		Technology Hardware & Equipment - 6.2%
	269,951	Amphenol Corp. Class A	$	18,140,707
	474,797	CDW Corp. of Delaware		24,732,176
	124,134	CommScope Holding Co., Inc.*		4,617,785
	930,634	National Instruments Corp.		28,682,140
	1,181,924	Trimble, Inc.*		35,635,008

				111,807,816

		Transportation - 7.5%
	256,757	Alaska Air Group, Inc.		22,782,049
	44,007	AMERCO		16,264,547
	157,035	CH Robinson Worldwide, Inc.		11,504,384
	334,986	Genesee & Wyoming, Inc. Class A*		23,251,378
	215,478	J.B. Hunt Transport Services, Inc.		20,916,449
	1,025,192	JetBlue Airways Corp.*		22,984,805
	324,636	Spirit Airlines, Inc.*		18,783,439

				136,487,051

		Utilities - 2.3%
	144,753	Black Hills Corp.		8,879,149
	262,102	NiSource, Inc.		5,802,938
	585,431	UGI Corp.		26,976,661

				41,658,748


		Total Common Stocks (cost $1,425,490,820)	$	1,809,162,818


		Total Long-Term Investments (cost $1,425,490,820)	$	1,809,162,818


SHORT-TERM INVESTMENTS - 0.3%
		Other Investment Pools & Funds - 0.3%
	5,219,877	Fidelity Institutional Government Fund, Institutional Class	$	5,219,877


		Total Short-Term Investments (cost $5,219,877)	$	5,219,877



Total Investments (cost $1,430,710,697)^{^}	100.0	%	$	1,814,382,695
Other Assets and Liabilities	0.0	%		213,563

Total Net Assets	100.0	%	$	1,814,596,258

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


		121

Hartford MidCap HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $1,433,582,282 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	416,571,993
Unrealized Depreciation		(35,771,580	)

Net Unrealized Appreciation	$	380,800,413

*	Non-income producing.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
MSCI		Morgan Stanley Capital International

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


		122

Hartford MidCap HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Automobiles & Components	$	26,824,324	$	26,824,324	$	—	$	—
Banks		98,596,690		98,596,690		—		—
Capital Goods		178,153,232		178,153,232		—		—
Commercial & Professional Services		144,456,663		144,456,663		—		—
Consumer Durables & Apparel		26,381,883		26,381,883		—		—
Consumer Services		18,935,764		18,935,764		—		—
Diversified Financials		94,817,864		94,817,864		—		—
Energy		118,819,878		118,819,878		—		—
Food & Staples Retailing		12,370,943		12,370,943		—		—
Health Care Equipment & Services		73,931,909		73,931,909		—		—
Insurance		97,778,969		97,778,969		—		—
Materials		62,512,237		62,512,237		—		—
Pharmaceuticals, Biotechnology & Life Sciences		183,903,480		183,903,480		—		—
Retailing		64,552,662		64,552,662		—		—
Semiconductors & Semiconductor Equipment		15,506,311		15,506,311		—		—
Software & Services		301,666,394		301,666,394		—		—
Technology Hardware & Equipment		111,807,816		111,807,816		—		—
Transportation		136,487,051		136,487,051		—		—
Utilities		41,658,748		41,658,748		—		—
Short-Term Investments		5,219,877		5,219,877		—		—

Total	$	1,814,382,695	$	1,814,382,695	$	—	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

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


		123

Hartford MidCap Value HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6%
		Automobiles & Components - 1.4%
	170,847	Goodyear Tire & Rubber Co.	$	5,274,047

		Banks - 13.7%
	95,304	Bank of the Ozarks, Inc.		5,012,037
	107,767	BankUnited, Inc.		4,061,738
	172,739	Comerica, Inc.		11,765,253
	68,141	IBERIABANK Corp.		5,706,809
	86,625	MB Financial, Inc.		4,091,299
	113,568	Provident Financial Services, Inc.		3,213,975
	48,293	South State Corp.		4,220,808
	79,463	Sterling Bancorp		1,859,434
	19,700	Western Alliance Bancorp*		959,587
	260,044	Zions Bancorp		11,192,294

				52,083,234

		Capital Goods - 7.5%
	80,851	Generac Holdings, Inc.*		3,293,870
	5,048	Herc Holdings, Inc.*		202,728
	37,826	Hubbell, Inc. Class B		4,414,294
	86,745	Moog, Inc. Class A*		5,697,412
	131,904	NOW, Inc.*		2,700,075
	543,344	Sanwa Holdings Corp.		5,167,729
	81,599	Sensata Technologies Holding N.V.*		3,178,281
	59,084	WESCO International, Inc.*		3,932,040

				28,586,429

		Commercial & Professional Services - 1.3%
	136,200	IHS Markit Ltd.*		4,822,842

		Consumer Durables & Apparel - 4.2%
	115,367	D.R. Horton, Inc.		3,152,980
	35,537,573	Global Brands Group Holding Ltd.*		4,700,849
	131,278	Lennar Corp. Class A		5,635,765
	78,448	Toll Brothers, Inc.*		2,431,888

				15,921,482

		Consumer Services - 1.7%
	54,925	Bloomin’ Brands, Inc.		990,298
	130,736	Norwegian Cruise Line Holdings Ltd.*		5,560,202

				6,550,500

		Diversified Financials - 1.0%
	19,081	MSCI, Inc.		1,503,201
	33,383	Raymond James Financial, Inc.		2,312,441

				3,815,642

		Energy - 8.7%
	415,600	Cobalt International Energy, Inc.*		507,032
	112,600	Delek US Holdings, Inc.		2,710,282
	106,907	Diamondback Energy, Inc.*		10,804,021
	76,394	Energen Corp.		4,405,642
	35,610	HollyFrontier Corp.		1,166,584
	177,697	Newfield Exploration Co.*		7,196,729
	266,930	QEP Resources, Inc.		4,914,181
	323,895	Trican Well Service Ltd.*		1,109,684

				32,814,155

		Food, Beverage & Tobacco - 2.3%
	26,808	Ingredion, Inc.		3,349,927
	64,789	Post Holdings, Inc.*		5,208,388

				8,558,315


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6% - (continued)
		Health Care Equipment & Services - 2.7%
	87,693	Acadia Healthcare Co., Inc.*	$	2,902,638
	174,640	Brookdale Senior Living, Inc.*		2,169,029
	82,183	Envision Healthcare Corp.*		5,201,362

				10,273,029

		Insurance - 9.0%
	36,078	Assurant, Inc.		3,350,203
	205,375	CNO Financial Group, Inc.		3,932,931
	37,965	Hanover Insurance Group, Inc.		3,455,195
	79,965	Reinsurance Group of America, Inc.		10,061,996
	135,570	Unum Group		5,955,590
	201,024	XL Group Ltd.		7,490,154

				34,246,069

		Materials - 9.5%
	90,392	Bemis Co., Inc.		4,322,545
	65,524	Cabot Corp.		3,311,583
	84,558	Celanese Corp. Series A		6,658,097
	97,773	CF Industries Holdings, Inc.		3,077,894
	40,333	Crown Holdings, Inc.*		2,120,306
	274,204	Louisiana-Pacific Corp.*		5,190,682
	176,838	Methanex Corp.		7,745,504
	66,600	Westlake Chemical Corp.		3,728,934

				36,155,545

		Media - 2.5%
	155,657	Interpublic Group of Cos., Inc.		3,643,930
	64,731	John Wiley & Sons, Inc. Class A		3,527,840
	76,048	Quebecor, Inc. Class B		2,113,813

				9,285,583

		Pharmaceuticals, Biotechnology & Life Sciences - 0.8%
	183,233	Endo International plc*		3,017,847

		Real Estate - 7.9%
	61,989	American Assets Trust, Inc. REIT		2,670,486
	65,877	Equity LifeStyle Properties, Inc. REIT		4,749,732
	47,065	Extra Space Storage, Inc. REIT		3,635,301
	74,794	Forest City Realty Trust, Inc. Class A REIT		1,558,707
	136,733	LaSalle Hotel Properties REIT		4,166,254
	35,544	Life Storage, Inc. REIT		3,030,481
	54,119	PS Business Parks, Inc. REIT		6,305,946
	158,923	STORE Capital Corp. REIT		3,926,987

				30,043,894

		Retailing - 0.9%
	151,229	DSW, Inc. Class A		3,425,337

		Semiconductors & Semiconductor Equipment - 5.9%
	207,050	Microsemi Corp.*		11,174,489
	102,228	Qorvo, Inc.*		5,390,482
	137,238	Silicon Motion Technology Corp. ADR		5,829,870

				22,394,841

		Software & Services - 2.6%
	143,569	Booz Allen Hamilton Holding Corp.		5,178,534
	156,759	SS&C Technologies Holdings, Inc.		4,483,307
	8,619	Verint Systems, Inc.*		303,820

				9,965,661

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


		124

Hartford MidCap Value HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6% - (continued)
		Technology Hardware & Equipment - 6.0%
	130,743	Arrow Electronics, Inc.*	$	9,321,976
	103,316	CommScope Holding Co., Inc.*		3,843,355
	54,745	Harris Corp.		5,609,720
	112,613	Keysight Technologies, Inc.*		4,118,258

				22,893,309

		Telecommunication Services - 0.7%
	62,072	Millicom International Cellular S.A.		2,645,160

		Transportation - 3.4%
	82,977	Genesee & Wyoming, Inc. Class A*		5,759,434
	171,339	Knight Transportation, Inc.		5,662,754
	17,241	Ryder System, Inc.		1,283,420

				12,705,608

		Utilities - 4.9%
	162,370	Alliant Energy Corp.		6,152,199
	131,392	Great Plains Energy, Inc.		3,593,571
	193,681	UGI Corp.		8,924,821

				18,670,591


		Total Common Stocks (cost $310,461,920)	$	374,149,120


		Total Long-Term Investments (cost $310,461,920)	$	374,149,120


SHORT-TERM INVESTMENTS - 1.0%
		Other Investment Pools & Funds - 1.0%
	3,772,166	Morgan Stanley Institutional Liquidity Funds, Institutional Class	$	3,772,166


		Total Short-Term Investments (cost $3,772,166)	$	3,772,166



Total Investments (cost $314,234,086)^{^}	99.6	%	$	377,921,286
Other Assets and Liabilities	0.4	%		1,654,750

Total Net Assets	100.0	%	$	379,576,036

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


		125

Hartford MidCap Value HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $315,428,716 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	81,967,065
Unrealized Depreciation		(19,474,495	)

Net Unrealized Appreciation	$	62,492,570

*	Non-income producing.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt
MSCI		Morgan Stanley Capital International
REIT		Real Estate Investment Trust

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


		126

Hartford MidCap Value HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Automobiles & Components	$	5,274,047	$	5,274,047	$	—	$	—
Banks		52,083,234		52,083,234		—		—
Capital Goods		28,586,429		23,418,700		5,167,729		—
Commercial & Professional Services		4,822,842		4,822,842		—		—
Consumer Durables & Apparel		15,921,482		11,220,633		4,700,849		—
Consumer Services		6,550,500		6,550,500		—		—
Diversified Financials		3,815,642		3,815,642		—		—
Energy		32,814,155		32,814,155		—		—
Food, Beverage & Tobacco		8,558,315		8,558,315		—		—
Health Care Equipment & Services		10,273,029		10,273,029		—		—
Insurance		34,246,069		34,246,069		—		—
Materials		36,155,545		36,155,545		—		—
Media		9,285,583		9,285,583		—		—
Pharmaceuticals, Biotechnology & Life Sciences		3,017,847		3,017,847		—		—
Real Estate		30,043,894		30,043,894		—		—
Retailing		3,425,337		3,425,337		—		—
Semiconductors & Semiconductor Equipment		22,394,841		22,394,841		—		—
Software & Services		9,965,661		9,965,661		—		—
Technology Hardware & Equipment		22,893,309		22,893,309		—		—
Telecommunication Services		2,645,160		—		2,645,160		—
Transportation		12,705,608		12,705,608		—		—
Utilities		18,670,591		18,670,591		—		—
Short-Term Investments		3,772,166		3,772,166		—		—

Total	$	377,921,286	$	365,407,548	$	12,513,738	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks			Total
Beginning balance	$	97,610		$	97,610
Purchases		—			—
Sales		(108,456	)		(108,456	)
Accrued discounts/(premiums)		—			—
Total realized gain/(loss)		(23,990	)		(23,990	)
Net change in unrealized appreciation/depreciation		34,836			34,836
Transfers into Level 3		—			—
Transfers out of Level 3		—			—

Ending balance	$	—		$	—

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $0.

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


		127

Hartford Small Cap Growth HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 95.3%
		Automobiles & Components - 2.0%
	28,100	American Axle & Manufacturing Holdings, Inc.*	$	542,330
	13,116	Cooper Tire & Rubber Co.		509,557
	13,285	Cooper-Standard Holding, Inc.*		1,373,403
	5,982	LCI Industries		644,560
	246,060	Tenneco, Inc.*		15,371,368
	60,543	Visteon Corp.		4,864,025
	14,700	Winnebago Industries, Inc.		465,255

				23,770,498

		Banks - 4.8%
	20,504	Banc of California, Inc.		355,744
	21,784	Enterprise Financial Services Corp.		936,712
	41,441	Essent Group Ltd.*		1,341,445
	103,499	FCB Financial Holdings, Inc. Class A*		4,936,902
	173,600	First Hawaiian, Inc.		6,044,752
	314,777	First Merchants Corp.		11,851,354
	123,845	Great Western Bancorp, Inc.		5,398,404
	13,638	HomeStreet, Inc.*		430,961
	84,773	IBERIABANK Corp.		7,099,739
	571,825	MGIC Investment Corp.*		5,826,897
	122,561	Sandy Spring Bancorp, Inc.		4,901,214
	317,652	Sterling Bancorp		7,433,057
	18,827	Walker & Dunlop, Inc.*		587,402

				57,144,583

		Capital Goods - 9.7%
	237,380	AAON, Inc.		7,845,409
	21,800	Aegion Corp.*		516,660
	209,450	Altra Industrial Motion Corp.		7,728,705
	90,521	American Woodmark Corp.*		6,811,705
	13,131	Argan, Inc.		926,392
	136,966	Armstrong World Industries, Inc.*		5,725,179
	159,539	Astronics Corp.*		5,398,800
	143,589	AZZ, Inc.		9,175,337
	10,522	Comfort Systems USA, Inc.		350,383
	59,206	Continental Building Products, Inc.*		1,367,659
	14,604	Encore Wire Corp.		633,083
	49,100	Energy Recovery, Inc.*		508,185
	8,200	EnerSys		640,420
	73,206	Esterline Technologies Corp.*		6,529,975
	219,700	Generac Holdings, Inc.*		8,950,578
	27,596	Gibraltar Industries, Inc.*		1,149,373
	33,202	Global Brass & Copper Holdings, Inc.		1,138,829
	14,900	Greenbrier Cos., Inc.		619,095
	92,967	Heico Corp. Class A		6,312,459
	13,459	Hyster-Yale Materials Handling, Inc.		858,281
	15,228	Insteel Industries, Inc.		542,726
	42,342	Lennox International, Inc.		6,485,524
	12,500	Lydall, Inc.*		773,125
	186,924	Manitowoc Foodservice, Inc.*		3,613,241
	49,956	MasTec, Inc.*		1,910,817
	123,924	Meritor, Inc.*		1,539,136
	53,300	MRC Global, Inc.*		1,079,858
	25,163	Navistar International Corp.*		789,363
	31,434	NCI Building Systems, Inc.*		491,942
	130,128	SiteOne Landscape Supply, Inc.*		4,519,346
	73,510	TASER International, Inc.*		1,781,882
	74,262	Teledyne Technologies, Inc.*		9,134,226
	102,556	Toro Co.		5,738,008
	46,147	Trex Co., Inc.*		2,971,867
	14,767	Universal Forest Products, Inc.		1,508,892
	22,845	Wabash National Corp.*		361,408

				116,427,868


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 95.3% - (continued)
		Commercial & Professional Services - 4.4%
	37,941	Brink’s Co.	$	1,565,066
	137,972	Deluxe Corp.		9,880,175
	135,427	Exponent, Inc.		8,166,248
	83,805	GP Strategies Corp.*		2,396,823
	54,873	Herman Miller, Inc.		1,876,657
	8,620	HNI Corp.		482,030
	124,732	Huron Consulting Group, Inc.*		6,317,676
	19,779	Insperity, Inc.		1,403,320
	192,411	On Assignment, Inc.*		8,496,870
	21,500	Quad/Graphics, Inc.		577,920
	60,523	RPX Corp.*		653,648
	53,153	TriNet Group, Inc.*		1,361,780
	131,747	WageWorks, Inc.*		9,551,658

				52,729,871

		Consumer Durables & Apparel - 3.4%
	18,377	American Outdoor Brands Corp.*		387,387
	38,100	Callaway Golf Co.		417,576
	68,802	Carter’s, Inc.		5,943,805
	18,601	iRobot Corp.*		1,087,228
	433,490	Kate Spade & Co.*		8,093,258
	16,809	La-Z-Boy, Inc.		521,919
	19,297	Movado Group, Inc.		554,789
	256,270	Steven Madden Ltd.*		9,161,653
	8,601	Sturm Ruger & Co., Inc.		453,273
	221,800	TopBuild Corp.*		7,896,080
	168,243	Vista Outdoor, Inc.*		6,208,167

				40,725,135

		Consumer Services - 5.1%
	19,500	American Public Education, Inc.*		478,725
	8,565	BJ’s Restaurants, Inc.*		336,605
	472,590	Bloomin’ Brands, Inc.		8,520,798
	27,748	Capella Education Co.		2,436,274
	39,300	Cheesecake Factory, Inc.		2,353,284
	8,908	Dave & Buster’s Entertainment, Inc.*		501,520
	43,700	DeVry Education Group, Inc.		1,363,440
	10,785	Domino’s Pizza, Inc.		1,717,403
	158,507	Dunkin’ Brands Group, Inc.		8,312,107
	27,742	Grand Canyon Education, Inc.*		1,621,520
	482,228	La Quinta Holdings, Inc.*		6,852,460
	115,573	Marriott Vacations Worldwide Corp.		9,806,369
	74,769	Papa John’s International, Inc.		6,398,731
	31,291	Scientific Games Corp. Class A*		438,074
	29,939	Sotheby’s*		1,193,369
	15,289	Strayer Education, Inc.*		1,232,752
	18,384	Texas Roadhouse, Inc.		886,844
	219,378	Wingstop, Inc.		6,491,395

				60,941,670

		Diversified Financials - 1.2%
	156,296	Evercore Partners, Inc. Class A		10,737,535
	32,170	Green Dot Corp. Class A*		757,604
	91,381	KCG Holdings, Inc. Class A*		1,210,798
	99,249	OneMain Holdings, Inc.*		2,197,373

				14,903,310

		Energy - 2.1%
	103,500	Bill Barrett Corp.*		723,465
	8,200	Carrizo Oil & Gas, Inc.*		306,270
	164,370	PBF Energy, Inc. Class A		4,582,635
	61,322	PDC Energy, Inc.*		4,450,751
	48,858	Pioneer Energy Services Corp.*		334,677
	20,315	REX American Resources Corp.*		2,006,106

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


		128

Hartford Small Cap Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 95.3% - (continued)
		Energy - 2.1% - (continued)
	160,069	RSP Permian, Inc.*	$	7,142,279
	117,220	Sanchez Energy Corp.*		1,058,497
	283,900	WildHorse Resource Development Corp.*		4,144,940

				24,749,620

		Food & Staples Retailing - 1.4%
	66,940	Casey’s General Stores, Inc.		7,957,827
	6,429	Ingles Markets, Inc. Class A		309,235
	94,739	PriceSmart, Inc.		7,910,707

				16,177,769

		Food, Beverage & Tobacco - 1.5%
	22,315	Fresh Del Monte Produce, Inc.		1,352,959
	20,076	National Beverage Corp.		1,025,482
	69,591	Pilgrim’s Pride Corp.		1,321,533
	99,170	Post Holdings, Inc.*		7,972,276
	10,255	Sanderson Farms, Inc.		966,431
	77,526	TreeHouse Foods, Inc.*		5,596,602

				18,235,283

		Health Care Equipment & Services - 9.2%
	101,000	Acadia Healthcare Co., Inc.*		3,343,100
	164,721	Anika Therapeutics, Inc.*		8,064,740
	15,485	Atrion Corp.		7,853,992
	161,513	Cardiovascular Systems, Inc.*		3,910,230
	6,047	Chemed Corp.		969,999
	158,113	Cynosure, Inc. Class A*		7,209,953
	24,517	Glaukos Corp.*		840,933
	305,694	Globus Medical, Inc. Class A*		7,584,268
	36,162	HealthEquity, Inc.*		1,465,284
	93,217	HMS Holdings Corp.*		1,692,821
	66,973	ICU Medical, Inc.*		9,868,472
	10,719	Inogen, Inc.*		719,995
	74,974	Integra LifeSciences Holdings Corp.*		6,432,020
	20,521	Magellan Health, Inc.*		1,544,205
	47,281	Masimo Corp.*		3,186,739
	28,730	Medidata Solutions, Inc.*		1,427,019
	199,734	Natus Medical, Inc.*		6,950,743
	181,776	Omnicell, Inc.*		6,162,207
	19,700	Surgical Care Affiliates, Inc.*		911,519
	36,526	Triple-S Management Corp. Class B*		756,088
	93,230	U.S. Physical Therapy, Inc.		6,544,746
	186,425	Vascular Solutions, Inc.*		10,458,443
	91,428	WellCare Health Plans, Inc.*		12,532,950

				110,430,466

		Household & Personal Products - 0.1%
	15,542	Medifast, Inc.		647,013
	15,815	Usana Health Sciences, Inc.*		967,878

				1,614,891

		Insurance - 1.7%
	71,157	Ambac Financial Group, Inc.*		1,601,032
	127,076	AMERISAFE, Inc.		7,923,188
	6,727	Federated National Holding Co.		125,728
	55,411	Greenlight Capital Re Ltd. Class A*		1,263,371
	152,465	James River Group Holdings Ltd.		6,334,921
	87,473	Maiden Holdings Ltd.		1,526,404
	40,721	MBIA, Inc.*		435,715
	6,797	Primerica, Inc.		470,012
	44,255	Universal Insurance Holdings, Inc.		1,256,842

				20,937,213


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 95.3% - (continued)
		Materials - 4.0%
	254,177	Boise Cascade Co.*	$	5,718,982
	68,658	Chemours Co.		1,516,655
	27,590	Clearwater Paper Corp.*		1,808,525
	80,100	Cliffs Natural Resources, Inc.*		673,641
	65,253	Coeur Mining, Inc.*		593,150
	632,156	Graphic Packaging Holding Co.		7,889,307
	248,570	Headwaters, Inc.*		5,846,366
	5,202	Innospec, Inc.		356,337
	31,338	Koppers Holdings, Inc.*		1,262,921
	198,500	Louisiana-Pacific Corp.*		3,757,605
	538,957	OMNOVA Solutions, Inc.*		5,389,570
	261,917	PolyOne Corp.		8,391,821
	23,260	Stepan Co.		1,895,225
	31,905	Trinseo S.A.		1,891,967
	22,271	Worthington Industries, Inc.		1,056,536

				48,048,608

		Media - 0.1%
	16,816	MSG Networks, Inc. Class A*		361,544
	33,218	New Media Investment Group, Inc.		531,156

				892,700

		Pharmaceuticals, Biotechnology & Life Sciences - 9.4%
	165,127	Aerie Pharmaceuticals, Inc.*		6,250,057
	48,779	Agios Pharmaceuticals, Inc.*		2,035,548
	203,760	Alder Biopharmaceuticals, Inc.*		4,238,208
	14,000	AMAG Pharmaceuticals, Inc.*		487,200
	309,390	Amicus Therapeutics, Inc.*		1,537,668
	342,340	Aratana Therapeutics, Inc.*		2,458,001
	244,140	ARIAD Pharmaceuticals, Inc.*		3,037,102
	30,132	BioSpecifics Technologies Corp.*		1,678,352
	68,847	Bluebird Bio, Inc.*		4,247,860
	31,543	Cambrex Corp.*		1,701,745
	168,454	Coherus Biosciences, Inc.*		4,741,980
	36,400	Depomed, Inc.*		655,928
	54,382	Emergent Biosolutions, Inc.*		1,785,905
	13,634	Enanta Pharmaceuticals, Inc.*		456,739
	202,495	Exelixis, Inc.*		3,019,201
	32,058	FibroGen, Inc.*		686,041
	170,780	Five Prime Therapeutics, Inc.*		8,557,786
	181,520	Flexion Therapeutics, Inc.*		3,452,510
	125,885	GlycoMimetics, Inc.*		767,899
	36,000	Impax Laboratories, Inc.*		477,000
	29,065	INC Research Holdings, Inc. Class A*		1,528,819
	43,157	Innoviva, Inc.*		461,780
	28,219	Insys Therapeutics, Inc.*		259,615
	201,231	Intersect ENT, Inc.*		2,434,895
	118,764	Ionis Pharmaceuticals, Inc.*		5,680,482
	90,829	Ironwood Pharmaceuticals, Inc.*		1,388,775
	94,101	Lexicon Pharmaceuticals, Inc.*		1,301,417
	50,544	Luminex Corp.*		1,022,505
	159,247	Medicines Co.*		5,404,843
	19,902	Myriad Genetics, Inc.*		331,766
	106,456	Neurocrine Biosciences, Inc.*		4,119,847
	228,888	Otonomy, Inc.*		3,639,319
	14,328	Pacira Pharmaceuticals, Inc.*		462,794
	17,157	PAREXEL International Corp.*		1,127,558
	644,362	PDL BioPharma, Inc.		1,366,047
	155,227	Portola Pharmaceuticals, Inc.*		3,483,294
	46,917	PRA Health Sciences, Inc.*		2,586,065
	41,087	Prestige Brands Holdings, Inc.*		2,140,633
	144,541	PTC Therapeutics, Inc.*		1,576,942

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


		129

Hartford Small Cap Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 95.3% - (continued)
		Pharmaceuticals, Biotechnology & Life Sciences - 9.4% - (continued)
	10,200	Puma Biotechnology, Inc.*	$	313,140
	69,600	Seres Therapeutics, Inc.*		689,040
	75,519	Supernus Pharmaceuticals, Inc.*		1,906,855
	78,304	TESARO, Inc.*		10,530,322
	27,362	Trevena, Inc.*		160,889
	78,337	Ultragenyx Pharmaceutical, Inc.*		5,507,875
	67,586	Vanda Pharmaceuticals, Inc.*		1,077,997

				112,776,244

		Real Estate - 3.3%
	83,065	CareTrust, Inc. REIT		1,272,556
	132,889	Coresite Realty Corp. REIT		10,547,400
	45,500	Gramercy Property Trust REIT		417,690
	236,978	HFF, Inc. Class A REIT		7,168,585
	219,994	LaSalle Hotel Properties REIT		6,703,217
	28,800	Medical Properties Trust, Inc. REIT		354,240
	111,163	Pennsylvania REIT		2,107,650
	19,452	Physicians Realty Trust REIT		368,810
	46,394	RLJ Lodging Trust REIT		1,136,189
	17,400	Sabra Healthcare, Inc. REIT		424,908
	18,000	STAG Industrial, Inc. REIT		429,660
	419,061	Sunstone Hotel Investors, Inc. REIT		6,390,680
	12,100	Urban Edge Properties REIT		332,871
	168,751	Washington Prime Group, Inc. REIT		1,756,698

				39,411,154

		Retailing - 4.6%
	97,176	American Eagle Outfitters, Inc.		1,474,160
	15,296	Big Lots, Inc.		768,012
	25,689	Buckle, Inc.		585,709
	100,115	Burlington Stores, Inc.*		8,484,746
	8,142	Cato Corp. Class A		244,911
	57,100	Chico’s FAS, Inc.		821,669
	21,300	Children’s Place, Inc.		2,150,235
	187,485	Core-Mark Holding Co., Inc.		8,074,979
	98,026	DSW, Inc. Class A		2,220,289
	24,910	Finish Line, Inc. Class A		468,557
	155,456	Five Below, Inc.*		6,212,022
	68,010	Francescas Holding Corp.*		1,226,220
	9,571	Hibbett Sports, Inc.*		356,998
	114,338	HSN, Inc.		3,921,793
	15,139	Liberty TripAdvisor Holdings, Inc. Class A*		227,842
	118,643	Monro Muffler Brake, Inc.		6,786,380
	19,063	Overstock.com, Inc.*		333,603
	29,525	PetMed Express, Inc.		681,142
	72,596	Pier 1 Imports, Inc.		619,970
	56,733	Select Comfort Corp.*		1,283,301
	31,400	Shutterfly, Inc.*		1,575,652
	19,900	Tailored Brands, Inc.		508,445
	63,960	Tile Shop Holdings, Inc.*		1,250,418
	147,805	Wayfair, Inc. Class A*		5,180,565

				55,457,618

		Semiconductors & Semiconductor Equipment - 4.4%
	49,111	Advanced Energy Industries, Inc.*		2,688,827
	98,411	Advanced Micro Devices, Inc.*		1,115,981
	20,648	Ambarella, Inc.*		1,117,676
	92,774	Amkor Technology, Inc.*		978,766
	130,574	Cirrus Logic, Inc.*		7,382,654
	37,689	Inphi Corp.*		1,681,683
	380,838	Integrated Device Technology, Inc.*		8,972,543
	80,550	Kulicke & Soffa Industries, Inc.*		1,284,772
	138,835	MACOM Technology Solutions Holdings, Inc.*		6,425,284


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 95.3% - (continued)
		Semiconductors & Semiconductor Equipment - 4.4% - (continued)
	338,386	MaxLinear, Inc. Class A*	$	7,376,815
	177,987	MKS Instruments, Inc.		10,572,428
	6,263	Synaptics, Inc.*		335,572
	71,437	Tessera Holding Corp.		3,157,515

				53,090,516

		Software & Services - 16.4%
	135,522	Aspen Technology, Inc.*		7,410,343
	56,259	Barracuda Networks, Inc.*		1,205,630
	110,224	Blackbaud, Inc.		7,054,336
	200,773	Blackhawk Network Holdings, Inc.*		7,564,123
	105,040	Bottomline Technologies de, Inc.*		2,628,101
	125,461	BroadSoft, Inc.*		5,175,266
	51,922	CACI International, Inc. Class A*		6,453,905
	296,996	Cardtronics plc Class A*		16,207,072
	77,726	Cass Information Systems, Inc.		5,718,302
	13,500	CommVault Systems, Inc.*		693,900
	85,407	comScore, Inc.*		2,697,153
	62,872	Convergys Corp.		1,544,136
	10,300	Cornerstone OnDemand, Inc.*		435,793
	58,736	CSG Systems International, Inc.		2,842,822
	278,734	Envestnet, Inc.*		9,825,374
	48,161	EPAM Systems, Inc.*		3,097,234
	156,651	Exlservice Holdings, Inc.*		7,901,477
	78,287	Fair Isaac Corp.		9,333,376
	374,038	Five9, Inc.*		5,307,599
	19,977	Gigamon, Inc.*		909,952
	212,299	GrubHub, Inc.*		7,986,688
	85,361	Guidewire Software, Inc.*		4,210,858
	138,894	HubSpot, Inc.*		6,528,018
	175,882	j2 Global, Inc.		14,387,148
	14,326	LogMeIn, Inc.		1,383,175
	40,014	Manhattan Associates, Inc.*		2,121,942
	130,652	MAXIMUS, Inc.		7,289,075
	13,200	New Relic, Inc. PIPE*		372,900
	16,200	NIC, Inc.		387,180
	24,193	Paycom Software, Inc.*		1,100,540
	165,256	Pegasystems, Inc.		5,949,216
	116,078	PTC, Inc.*		5,370,929
	81,680	Q2 Holdings, Inc.*		2,356,468
	5,629	Science Applications International Corp.		477,339
	34,315	Shutterstock, Inc.*		1,630,649
	69,836	Sykes Enterprises, Inc.*		2,015,467
	140,198	Take-Two Interactive Software, Inc.*		6,910,360
	34,246	Tyler Technologies, Inc.*		4,889,302
	66,741	WebMD Health Corp.*		3,308,351
	71,990	WEX, Inc.*		8,034,084
	41,697	Wix.com Ltd.*		1,857,601
	213,290	Zendesk, Inc.*		4,521,748

				197,094,932

		Technology Hardware & Equipment - 3.5%
	85,000	3D Systems Corp.*		1,129,650
	4,578	Belden, Inc.		342,297
	261,716	Ciena Corp.*		6,388,488
	58,435	ePlus, Inc.*		6,731,712
	10,000	Fabrinet*		403,000
	15,738	InterDigital, Inc.		1,437,666
	77,680	Itron, Inc.*		4,882,188
	39,629	Ixia*		638,027
	15,300	Lumentum Holdings, Inc.*		591,345
	18,473	NETGEAR, Inc.*		1,004,007
	140,186	NetScout Systems, Inc.*		4,415,859

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


		130

Hartford Small Cap Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 95.3% - (continued)
		Technology Hardware & Equipment - 3.5% - (continued)
	6,693	Plantronics, Inc.	$	366,509
	92,646	Rogers Corp.*		7,116,139
	36,051	Sanmina Corp.*		1,321,269
	51,489	Ubiquiti Networks, Inc.*		2,976,064
	110,458	Vishay Intertechnology, Inc.		1,789,420

				41,533,640

		Telecommunication Services - 0.6%
	43,254	IDT Corp. Class B		801,929
	405,558	ORBCOMM, Inc.*		3,353,965
	504,030	Vonage Holdings Corp.*		3,452,605

				7,608,499

		Transportation - 2.3%
	4,372	Alaska Air Group, Inc.		387,928
	11,683	Allegiant Travel Co.		1,944,051
	256,308	Celadon Group, Inc.		1,832,602
	80,997	Genesee & Wyoming, Inc. Class A*		5,622,002
	54,900	Hawaiian Holdings, Inc.*		3,129,300
	294,620	Knight Transportation, Inc.		9,737,191
	162,161	Marten Transport Ltd.		3,778,351
	51,630	Swift Transportation Co.*		1,257,707

				27,689,132

		Utilities - 0.1%
	7,400	Southwest Gas Corp.		566,988


		Total Common Stocks (cost $995,868,189)	$	1,142,958,208


WARRANTS - 0.0%
		Diversified Financials - 0.0%
	891	Emergent Capital, Inc. Expires 4/11/19*⁽¹⁾	$	—


		Total Warrants (cost $—)	$	—


EXCHANGE TRADED FUNDS - 3.9%
		Other Investment Pools & Funds - 3.9%
	299,511	iShares Russell 2000 Growth ETF	$	46,106,723


		Total Exchange Traded Funds (cost $42,523,705)	$	46,106,723


		Total Long-Term Investments (cost $1,038,391,894)	$	1,189,064,931


SHORT-TERM INVESTMENTS - 1.1%
		Other Investment Pools & Funds - 1.1%
	13,139,763	Morgan Stanley Institutional Liquidity Funds, Institutional Class	$	13,139,763


		Total Short-Term Investments (cost $13,139,763)	$	13,139,763



Total Investments (cost $1,051,531,657)^{^}	100.3	%	$	1,202,204,694
Other Assets and Liabilities	(0.3	)%		(3,072,387	)

Total Net Assets	100.0	%	$	1,199,132,307

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


		131

Hartford Small Cap Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

Other than the industry classifications “Other Investment Pools & 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.

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $1,055,764,789 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	211,603,681
Unrealized Depreciation		(65,163,776	)

Net Unrealized Appreciation	$	146,439,905

*	Non-income producing.

⁽¹⁾

Period
Acquired

Shares/Par

Security

Cost

04/2014

891

Emergent Capital, Inc., Warrants

—

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ETF		Exchange Traded Fund
PIPE		Private Investment in Public Equity
REIT		Real Estate Investment Trust

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


		132

Hartford Small Cap Growth HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Automobiles & Components	$	23,770,498	$	23,770,498	$	—	$	—
Banks		57,144,583		57,144,583		—		—
Capital Goods		116,427,868		116,427,868		—		—
Commercial & Professional Services		52,729,871		52,729,871		—		—
Consumer Durables & Apparel		40,725,135		40,725,135		—		—
Consumer Services		60,941,670		60,941,670		—		—
Diversified Financials		14,903,310		14,903,310		—		—
Energy		24,749,620		24,749,620		—		—
Food & Staples Retailing		16,177,769		16,177,769		—		—
Food, Beverage & Tobacco		18,235,283		18,235,283		—		—
Health Care Equipment & Services		110,430,466		110,430,466		—		—
Household & Personal Products		1,614,891		1,614,891		—		—
Insurance		20,937,213		20,937,213		—		—
Materials		48,048,608		48,048,608		—		—
Media		892,700		892,700		—		—
Pharmaceuticals, Biotechnology & Life Sciences		112,776,244		112,776,244		—		—
Real Estate		39,411,154		39,411,154		—		—
Retailing		55,457,618		55,457,618		—		—
Semiconductors & Semiconductor Equipment		53,090,516		53,090,516		—		—
Software & Services		197,094,932		197,094,932		—		—
Technology Hardware & Equipment		41,533,640		41,533,640		—		—
Telecommunication Services		7,608,499		7,608,499		—		—
Transportation		27,689,132		27,689,132		—		—
Utilities		566,988		566,988		—		—
Warrants		—		—		—		—
Exchange Traded Funds		46,106,723		46,106,723		—		—
Short-Term Investments		13,139,763		13,139,763		—		—

Total	$	1,202,204,694	$	1,202,204,694	$	—	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

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


		133

Hartford Small Company HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 93.2%
		Automobiles & Components - 1.1%
	334,716	Fox Factory Holding Corp.*	$	9,288,369
	4,850	Tenneco, Inc.*		302,979
	1,458	Visteon Corp.		117,136

				9,708,484

		Banks - 6.1%
	600	Enterprise Financial Services Corp.		25,800
	2,426	FCB Financial Holdings, Inc. Class A*		115,720
	4,100	First Hawaiian, Inc.		142,762
	7,244	First Merchants Corp.		272,737
	2,964	Great Western Bancorp, Inc.		129,201
	64,022	IBERIABANK Corp.		5,361,843
	272,297	MB Financial, Inc.		12,860,587
	15,458	MGIC Investment Corp.*		157,517
	2,990	Sandy Spring Bancorp, Inc.		119,570
	622,366	Sterling Bancorp		14,563,364
	467,189	United Community Banks, Inc.		13,838,138
	149,719	Western Alliance Bancorp*		7,292,813

				54,880,052

		Capital Goods - 10.0%
	5,600	AAON, Inc.		185,080
	470,591	Advanced Drainage Systems, Inc.		9,694,174
	388,442	Altra Industrial Motion Corp.		14,333,510
	1,646	American Woodmark Corp.*		123,861
	170,852	Applied Industrial Technologies, Inc.		10,148,609
	3,182	Armstrong World Industries, Inc.*		133,008
	168,540	Astronics Corp.*		5,703,393
	2,913	AZZ, Inc.		186,141
	1,714	Esterline Technologies Corp.*		152,889
	4,554	Generac Holdings, Inc.*		185,530
	88,080	Heico Corp. Class A		5,980,632
	984	Lennox International, Inc.		150,719
	4,327	Manitowoc Foodservice, Inc.*		83,641
	177,317	Masonite International Corp.*		11,667,458
	160,444	Middleby Corp.*		20,666,792
	65,957	Regal-Beloit Corp.		4,567,522
	3,041	SiteOne Landscape Supply, Inc.*		105,614
	1,708	Teledyne Technologies, Inc.*		210,084
	2,504	Toro Co.		140,099
	99,643	WESCO International, Inc.*		6,631,242

				91,049,998

		Commercial & Professional Services - 1.7%
	125,222	Clean Harbors, Inc.*		6,968,604
	2,637	Deluxe Corp.		188,836
	3,170	Exponent, Inc.		191,151
	2,079	GP Strategies Corp.*		59,459
	2,535	Huron Consulting Group, Inc.*		128,398
	4,539	On Assignment, Inc.*		200,442
	110,595	WageWorks, Inc.*		8,018,138

				15,755,028

		Consumer Durables & Apparel - 2.2%
	1,617	Carter’s, Inc.		139,692
	492,016	Kate Spade & Co.*		9,185,939
	288,592	Steven Madden Ltd.*		10,317,164
	5,158	TopBuild Corp.*		183,625
	3,899	Vista Outdoor, Inc.*		143,873

				19,970,293


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 93.2% - (continued)
		Consumer Services - 8.1%
	10,977	Bloomin’ Brands, Inc.	$	197,915
	933,619	ClubCorp Holdings, Inc.		13,397,433
	3,742	Dunkin’ Brands Group, Inc.		196,230
	182,038	Hyatt Hotels Corp. Class A*		10,059,420
	11,686	La Quinta Holdings, Inc.*		166,058
	109,383	Marriott Vacations Worldwide Corp.		9,281,148
	84,410	Panera Bread Co. Class A*		17,311,647
	1,648	Papa John’s International, Inc.		141,036
	674,133	Planet Fitness, Inc. Class A		13,550,073
	322,931	Wingstop, Inc.		9,555,528

				73,856,488

		Diversified Financials - 2.0%
	3,532	Evercore Partners, Inc. Class A		242,649
	487,666	Hannon Armstrong Sustainable Infrastructure Capital, Inc. REIT		9,260,777
	1,200	OneMain Holdings, Inc.*		26,568
	773,684	WisdomTree Investments, Inc.		8,618,840

				18,148,834

		Energy - 3.2%
	44,489	Centennial Resource Development, Inc. PIPE*^(1)(2)(3)		792,565
	299,291	Centennial Resource Development, Inc. Class A*		5,902,019
	465,699	Ensco plc Class A		4,526,594
	3,945	PBF Energy, Inc. Class A		109,987
	1,367	PDC Energy, Inc.*		99,217
	360,384	QEP Resources, Inc.		6,634,669
	3,823	RSP Permian, Inc.*		170,582
	6,600	WildHorse Resource Development Corp.*		96,360
	726,735	WPX Energy, Inc.*		10,588,529

				28,920,522

		Food & Staples Retailing - 0.0%
	1,557	Casey’s General Stores, Inc.		185,096
	2,179	PriceSmart, Inc.		181,947

				367,043

		Food, Beverage & Tobacco - 0.4%
	66,531	MGP Ingredients, Inc.		3,325,220
	2,283	Post Holdings, Inc.*		183,530
	1,783	TreeHouse Foods, Inc.*		128,715

				3,637,465

		Health Care Equipment & Services - 8.3%
	60,766	ABIOMED, Inc.*		6,847,113
	208,136	Acadia Healthcare Co., Inc.*		6,889,302
	141,823	Align Technology, Inc.*		13,633,445
	3,368	Anika Therapeutics, Inc.*		164,897
	362	Atrion Corp.		183,606
	3,778	Cardiovascular Systems, Inc.*		91,465
	3,637	Cynosure, Inc. Class A*		165,847
	15,566	DexCom, Inc.*		929,290
	7,137	Globus Medical, Inc. Class A*		177,069
	1,559	ICU Medical, Inc.*		229,719
	76,674	Inogen, Inc.*		5,150,193
	532,060	Insulet Corp.*		20,048,021
	1,751	Integra LifeSciences Holdings Corp.*		150,218
	4,328	Natus Medical, Inc.*		150,614
	123,713	Nevro Corp.*		8,988,987

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


		134

Hartford Small Company HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 93.2% - (continued)
		Health Care Equipment & Services - 8.3% - (continued)
	3,989	Omnicell, Inc.*	$	135,227
	2,175	U.S. Physical Therapy, Inc.		152,685
	4,304	Vascular Solutions, Inc.*		241,455
	252,406	Veeva Systems, Inc. Class A*		10,272,924
	1,770	WellCare Health Plans, Inc.*		242,632

				74,844,709

		Insurance - 0.9%
	2,965	AMERISAFE, Inc.		184,868
	83,205	Assurant, Inc.		7,726,416
	3,557	James River Group Holdings Ltd.		147,793

				8,059,077

		Materials - 2.8%
	5,998	Boise Cascade Co.*		134,955
	14,542	Graphic Packaging Holding Co.		181,484
	5,831	Headwaters, Inc.*		137,145
	105,028	Ingevity Corp.*		5,761,836
	215,408	KapStone Paper & Packaging Corp.		4,749,747
	4,641	Louisiana-Pacific Corp.*		87,854
	12,416	OMNOVA Solutions, Inc.*		124,160
	1,420,313	Platform Specialty Products Corp.*		13,933,271
	6,085	PolyOne Corp.		194,963

				25,305,415

		Pharmaceuticals, Biotechnology & Life Sciences - 7.4%
	229,945	Aerie Pharmaceuticals, Inc.*		8,703,418
	1,192	Agios Pharmaceuticals, Inc.*		49,742
	196,229	Alder Biopharmaceuticals, Inc.*		4,081,563
	7,563	Amicus Therapeutics, Inc.*		37,588
	8,369	Aratana Therapeutics, Inc.*		60,089
	6,020	ARIAD Pharmaceuticals, Inc.*		74,889
	97,361	Bluebird Bio, Inc.*		6,007,174
	98,186	Coherus Biosciences, Inc.*		2,763,936
	157,770	Five Prime Therapeutics, Inc.*		7,905,855
	4,424	Flexion Therapeutics, Inc.*		84,144
	96,006	Galapagos N.V. ADR*		6,162,625
	182,406	Global Blood Therapeutics, Inc.*		2,635,767
	4,333	GlycoMimetics, Inc.*		26,431
	4,919	Intersect ENT, Inc.*		59,520
	118,496	Ionis Pharmaceuticals, Inc.*		5,667,664
	295,468	Ironwood Pharmaceuticals, Inc.*		4,517,706
	3,861	Medicines Co.*		131,042
	2,468	Neurocrine Biosciences, Inc.*		95,512
	247,235	Otonomy, Inc.*		3,931,037
	3,794	Portola Pharmaceuticals, Inc.*		85,137
	3,746	PTC Therapeutics, Inc.*		40,869
	61,913	TESARO, Inc.*		8,326,060
	641	Trevena, Inc.*		3,769
	85,064	Ultragenyx Pharmaceutical, Inc.*		5,980,850

				67,432,387

		Real Estate - 3.8%
	140,542	Coresite Realty Corp. REIT		11,154,819
	5,580	HFF, Inc. Class A REIT		168,795
	615,281	Kennedy-Wilson Holdings, Inc. REIT		12,613,260
	336,447	LaSalle Hotel Properties REIT		10,251,540
	10,194	Sunstone Hotel Investors, Inc. REIT		155,459

				34,343,873


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 93.2% - (continued)
		Retailing - 3.1%
	5,016,400	Allstar Co.*^(1)(2)(3)	$	5,217,056
	2,051	Burlington Stores, Inc.*		173,822
	4,366	Core-Mark Holding Co., Inc.		188,044
	126,936	Dick’s Sporting Goods, Inc.		6,740,301
	2,288	DSW, Inc. Class A		51,823
	77,181	Five Below, Inc.*		3,084,153
	2,656	HSN, Inc.		91,101
	136,937	Monro Muffler Brake, Inc.		7,832,796
	104,986	Tory Burch LLC*^(1)(2)(3)		4,960,576
	3,452	Wayfair, Inc. Class A*		120,993

				28,460,665

		Semiconductors & Semiconductor Equipment - 5.3%
	129,703	Cavium, Inc.*		8,098,655
	2,642	Cirrus Logic, Inc.*		149,379
	390,451	Entegris, Inc.*		6,989,073
	208,054	Impinj, Inc.*		7,352,628
	8,954	Integrated Device Technology, Inc.*		210,956
	216,585	MACOM Technology Solutions Holdings, Inc.*		10,023,554
	24,231	MaxLinear, Inc. Class A*		528,236
	4,165	MKS Instruments, Inc.		247,401
	757,260	Tower Semiconductor Ltd.*		14,410,658

				48,010,540

		Software & Services - 18.2%
	133,497	2U, Inc.*		4,024,935
	3,173	Aspen Technology, Inc.*		173,500
	2,568	Blackbaud, Inc.		164,352
	226,548	Blackhawk Network Holdings, Inc.*		8,535,196
	2,480	Bottomline Technologies de, Inc.*		62,050
	201,538	BroadSoft, Inc.*		8,313,442
	1,269	CACI International, Inc. Class A*		157,737
	5,995	Cardtronics plc Class A*		327,147
	1,805	Cass Information Systems, Inc.		132,794
	114,407	CommVault Systems, Inc.*		5,880,520
	1,994	comScore, Inc.*		62,970
	46,752	CoStar Group, Inc.*		8,812,284
	138,741	Envestnet, Inc.*		4,890,620
	1,131	EPAM Systems, Inc.*		72,735
	3,655	Exlservice Holdings, Inc.*		184,358
	111,995	Fair Isaac Corp.		13,352,044
	334,556	Five9, Inc.*		4,747,350
	224,690	Gigamon, Inc.*		10,234,629
	318,402	GoDaddy, Inc. Class A*		11,128,150
	4,674	GrubHub, Inc.*		175,836
	84,003	Guidewire Software, Inc.*		4,143,868
	229,510	HubSpot, Inc.*		10,786,970
	3,675	j2 Global, Inc.		300,615
	871,441	Just Eat plc*		6,261,765
	2,997	MAXIMUS, Inc.		167,203
	286,346	Mimecast Ltd.*		5,125,593
	3,862	Pegasystems, Inc.		139,032
	93,117	Proofpoint, Inc.*		6,578,716
	2,727	PTC, Inc.*		126,178
	2,002	Q2 Holdings, Inc.*		57,758
	114,963	SS&C Technologies Holdings, Inc.		3,287,942
	70,849	Stamps.com, Inc.*		8,122,838
	3,230	Take-Two Interactive Software, Inc.*		159,207
	1,069,389	Telogis, Inc.^*(1)(2)(3)		3,400,657
	8,845	Trade Desk, Inc. Class A*		244,741
	802	Tyler Technologies, Inc.*		114,501


		135

Hartford Small Company HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 93.2% - (continued)
		Software & Services - 18.2% - (continued)
	40,301	Ultimate Software Group, Inc.*	$	7,348,887
	1,549	WebMD Health Corp.*		76,784
	79,486	WEX, Inc.*		8,870,638
	251,770	Wix.com Ltd.*		11,216,353
	5,097	Zendesk, Inc.*		108,056
	192,608	Zillow Group, Inc. Class C*		7,024,414

				165,095,365

		Technology Hardware & Equipment - 3.3%
	89,223	Arista Networks, Inc.*		8,634,110
	6,131	Ciena Corp.*		149,658
	52,524	Coherent, Inc.*		7,216,010
	1,348	ePlus, Inc.*		155,289
	1,807	Itron, Inc.*		113,570
	3,368	NetScout Systems, Inc.*		106,092
	781,870	Oclaro, Inc.*		6,997,736
	2,001	Rogers Corp.*		153,697
	71,441	Zebra Technologies Corp. Class A*		6,126,780

				29,652,942

		Telecommunication Services - 0.2%
	174,750	ORBCOMM, Inc.*		1,445,182
	12,321	Vonage Holdings Corp.*		84,399

				1,529,581

		Transportation - 5.1%
	6,246	Celadon Group, Inc.		44,659
	1,836	Genesee & Wyoming, Inc. Class A*		127,437
	119,131	Kirby Corp.*		7,922,211
	472,287	Knight Transportation, Inc.		15,609,085
	3,912	Marten Transport Ltd.		91,149
	159,109	Spirit Airlines, Inc.*		9,206,047
	537,799	Swift Transportation Co.*		13,100,784

				46,101,372


		Total Common Stocks (cost $769,499,828)	$	845,130,133


EXCHANGE TRADED FUNDS - 2.0%
		Other Investment Pools & Funds - 2.0%
	121,262	iShares Russell 2000 Growth ETF	$	18,667,072


		Total Exchange Traded Funds (cost $18,931,365)	$	18,667,072


PREFERRED STOCKS - 3.6%
		Consumer Services - 0.3%
	277,018	DraftKings, Inc. Series D*^(1)(2)(3)	$	1,099,761
	252,844	DraftKings, Inc. Series D-1*^(1)(2)(3)		1,319,846

				2,419,607

		Pharmaceuticals, Biotechnology & Life Sciences - 0.0%
	92,420	Sancilio & Co., Inc.*^(1)(2)(3)		290,199

		Retailing - 0.3%
	74,004	Honest Co.*^(1)(2)(3)		2,554,618

		Software & Services - 2.8%
	169,989	Cloudera, Inc.*^(1)(2)(3)		2,928,910
	410,300	MarkLogic Corp. Series F*^(1)(2)(3)		4,230,193
	206,888	Nutanix, Inc.*^(1)(2)(3)		5,223,251


Shares or Principal Amount			Market Value^†
PREFERRED STOCKS - 3.6% - (continued)
		Software & Services - 2.8% - (continued)
	1,456,330	Telogis, Inc.*^(1)(2)(3)	$	6,411,347
	157,023	Veracode, Inc.*^(1)(2)(3)		3,220,542
	1,026,132	Zuora, Inc. Series F*^(1)(2)(3)		3,806,950

				25,821,193

		Telecommunication Services - 0.2%
	6,478	DocuSign, Inc. Series B*^(1)(2)(3)		104,620
	1,940	DocuSign, Inc. Series B-1*^(1)(2)(3)		31,331
	4,655	DocuSign, Inc. Series D*^(1)(2)(3)		75,178
	100,799	DocuSign, Inc. Series E*^(1)(2)(3)		1,627,904

				1,839,033


		Total Preferred Stocks (cost $28,676,424)	$	32,924,650


		Total Long-Term Investments (cost $817,107,617)	$	896,721,855


SHORT-TERM INVESTMENTS - 1.0%
		Other Investment Pools & Funds - 1.0%
	8,865,629	BlackRock Liquidity Funds TempFund Portfolio, Institutional Class	$	8,865,629


		Total Short-Term Investments (cost $8,865,629)	$	8,865,629



Total Investments (cost $825,973,246)^{^}	99.8	%	$	905,587,484
Other Assets and Liabilities	0.2	%		1,564,930

Total Net Assets	100.0	%	$	907,152,414

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


		136

Hartford Small Company HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $833,882,672 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	111,140,429
Unrealized Depreciation		(39,435,617	)

Net Unrealized Appreciation	$	71,704,812

*	Non-income producing.

⁽¹⁾


Period Acquired		Shares/Par		Security	Cost
	08/2011		5,016,400	Allstar Co.	$	2,182,229
	12/2016		44,489	Centennial Resource Development, Inc. PIPE		646,870
	02/2014		169,989	Cloudera, Inc. Preferred		2,475,040
	02/2014		6,478	DocuSign, Inc. Series B Preferred		85,072
	02/2014		1,940	DocuSign, Inc. Series B-1 Preferred		25,477
	02/2014		4,655	DocuSign, Inc. Series D Preferred		61,131
	02/2014		100,799	DocuSign, Inc. Series E Preferred		1,323,733
	07/2015		277,018	DraftKings, Inc. Series D Preferred		1,491,990
	08/2015		252,844	DraftKings, Inc. Series D-1 Preferred		1,938,153
	08/2015		74,004	Honest Co. Preferred		3,386,053
	04/2015		410,300	MarkLogic Corp. Series F Preferred		4,765,306
	08/2014		206,888	Nutanix, Inc. Preferred		2,771,575
	07/2015		92,420	Sancilio & Co., Inc. Preferred		349,066
	09/2013		1,069,389	Telogis, Inc.		2,118,567
	09/2013		1,456,330	Telogis, Inc. Preferred		3,205,674
	11/2013		104,986	Tory Burch LLC		8,228,416
	08/2014		157,023	Veracode, Inc. Preferred		2,899,571
	01/2015		1,026,132	Zuora, Inc. Series F Preferred		3,898,583

					$	41,852,506

At December 31, 2016, the aggregate value of these securities was $47,295,504, which represents 5.2% of total net assets.

⁽²⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $47,295,504, which represents 5.2% of total net assets.

⁽³⁾

These securities are valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of these securities was $47,295,504, which represents 5.2% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt
ETF		Exchange Traded Fund
PIPE		Private Investment in Public Equity
REIT		Real Estate Investment Trust

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


		137

Hartford Small Company HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Automobiles & Components	$	9,708,484	$	9,708,484	$	—	$	—
Banks		54,880,052		54,880,052		—		—
Capital Goods		91,049,998		91,049,998		—		—
Commercial & Professional Services		15,755,028		15,755,028		—		—
Consumer Durables & Apparel		19,970,293		19,970,293		—		—
Consumer Services		73,856,488		73,856,488		—		—
Diversified Financials		18,148,834		18,148,834		—		—
Energy		28,920,522		28,127,957		—		792,565
Food & Staples Retailing		367,043		367,043		—		—
Food, Beverage & Tobacco		3,637,465		3,637,465		—		—
Health Care Equipment & Services		74,844,709		74,844,709		—		—
Insurance		8,059,077		8,059,077		—		—
Materials		25,305,415		25,305,415		—		—
Pharmaceuticals, Biotechnology & Life Sciences		67,432,387		67,432,387		—		—
Real Estate		34,343,873		34,343,873		—		—
Retailing		28,460,665		18,283,033		—		10,177,632
Semiconductors & Semiconductor Equipment		48,010,540		48,010,540		—		—
Software & Services		165,095,365		155,432,943		6,261,765		3,400,657
Technology Hardware & Equipment		29,652,942		29,652,942		—		—
Telecommunication Services		1,529,581		1,529,581		—		—
Transportation		46,101,372		46,101,372		—		—
Exchange Traded Funds		18,667,072		18,667,072		—		—
Preferred Stocks		32,924,650		—		—		32,924,650
Short-Term Investments		8,865,629		8,865,629		—		—

Total	$	905,587,484	$	852,030,215	$	6,261,765	$	47,295,504

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between Level 1 and Level 2, and investments valued at $2,905,494 were transferred from Level 3 to Level 1 due to the expiration of trading restrictions.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks			Preferred Stocks			Total
Beginning balance	$	15,248,065		$	36,283,004		$	51,531,069
Purchases		646,870			—			646,870
Sales		—			(622,830	)		(622,830	)
Accrued discounts/(premiums)		—			—			—
Total realized gain/(loss)		—			(53,160	)		(53,160	)
Net change in unrealized appreciation/depreciation		1,381,413			(2,682,364	)		(1,300,951	)
Transfers into Level 3		—			—			—
Transfers out of Level 3		(2,905,494	)		—			(2,905,494	)

Ending balance	$	14,370,854		$	32,924,650		$	47,295,504

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $(1,301,239).

Note:

For purposes of reporting transfers between different hierarchy levels, both transfers in and out of each level, as applicable, are shown as if they occurred at the beginning of the period.

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


		138

Hartford Small/Mid Cap Equity HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6%
		Automobiles & Components - 1.8%
	7,510	Cooper Tire & Rubber Co.	$	291,763
	3,388	Horizon Global Corp.*		81,312
	9,423	Lear Corp.		1,247,323
	2,968	Thor Industries, Inc.		296,948

				1,917,346

		Banks - 6.0%
	12,700	Banco Latinoamericano de Comercio Exterior S.A. ADR		373,888
	12,305	Berkshire Hills Bancorp, Inc.		453,439
	9,096	Essent Group Ltd.*		294,438
	19,183	Fidelity Southern Corp.		454,062
	47,006	Fifth Third Bancorp		1,267,752
	51,550	First BanCorp*		340,746
	7,388	First NBC Bank Holding Co.*		53,932
	16,500	Flagstar Bancorp, Inc.*		444,510
	15,349	HomeStreet, Inc.*		485,028
	7,903	MainSource Financial Group, Inc.		271,863
	15,556	NMI Holdings, Inc. Class A*		165,671
	19,446	OFG Bancorp		254,743
	26,198	Popular, Inc.		1,147,996
	9,659	Walker & Dunlop, Inc.*		301,361

				6,309,429

		Capital Goods - 11.4%
	6,076	American Railcar Industries, Inc.		275,182
	4,058	American Woodmark Corp.*		305,365
	3,200	Argan, Inc.		225,760
	13,715	Briggs & Stratton Corp.		305,296
	7,140	Chart Industries, Inc.*		257,183
	11,550	Continental Building Products, Inc.*		266,805
	8,243	DigitalGlobe, Inc.*		236,162
	4,300	Douglas Dynamics, Inc.		144,695
	18,567	Energy Recovery, Inc.*		192,168
	3,100	EnerSys		242,110
	8,700	Generac Holdings, Inc.*		354,438
	6,726	Gibraltar Industries, Inc.*		280,138
	4,200	Greenbrier Cos., Inc.		174,510
	11,428	Harsco Corp.		155,421
	4,691	Huntington Ingalls Industries, Inc.		864,035
	7,198	Insteel Industries, Inc.		256,537
	7,900	Jacobs Engineering Group, Inc.*		450,300
	20,416	Kratos Defense & Security Solutions, Inc.*		151,078
	3,028	Lydall, Inc.*		187,282
	11,706	MasTec, Inc.*		447,755
	27,439	Meritor, Inc.*		340,792
	19,118	MRC Global, Inc.*		387,331
	4,038	MYR Group, Inc.*		152,152
	7,703	Navistar International Corp.*		241,643
	8,402	Oshkosh Corp.		542,853
	6,983	Owens Corning		360,043
	2,129	Patrick Industries, Inc.*		162,443
	7,000	Regal-Beloit Corp.		484,750
	17,043	Spirit Aerosystems Holdings, Inc. Class A		994,459
	6,765	Supreme Industries, Inc. Class A		106,211
	17,387	TASER International, Inc.*		421,461
	5,309	Timken Co.		210,767
	15,387	Titan International, Inc.		172,488
	6,238	Trex Co., Inc.*		401,727
	9,404	Triumph Group, Inc.		249,206
	6,312	United Rentals, Inc.*		666,421
	3,100	Universal Forest Products, Inc.		316,758

				11,983,725


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6% - (continued)
		Commercial & Professional Services - 3.9%
	11,932	ACCO Brands Corp.*	$	155,713
	3,035	Barrett Business Services, Inc.		194,544
	6,281	Brink’s Co.		259,091
	1,338	Deluxe Corp.		95,814
	5,354	Dun & Bradstreet Corp.		649,547
	6,100	Essendant, Inc.		127,490
	11,664	Herman Miller, Inc.		398,909
	5,953	Huron Consulting Group, Inc.*		301,519
	3,206	Insperity, Inc.		227,466
	7,800	Kimball International, Inc. Class B		136,968
	4,028	Mistras Group, Inc.*		103,439
	6,882	Quad/Graphics, Inc.		184,988
	4,416	Robert Half International, Inc.		215,413
	24,059	RPX Corp.*		259,837
	14,166	RR Donnelley & Sons Co.		231,189
	8,331	TriNet Group, Inc.*		213,440
	5,092	WageWorks, Inc.*		369,170

				4,124,537

		Consumer Durables & Apparel - 1.8%
	11,090	American Outdoor Brands Corp.*		233,777
	25,500	Callaway Golf Co.		279,480
	5,097	CSS Industries, Inc.		137,976
	865	Helen of Troy Ltd.*		73,049
	5,691	Hooker Furniture Corp.		215,973
	2,900	iRobot Corp.*		169,505
	6,037	La-Z-Boy, Inc.		187,449
	7,395	lululemon athletica, Inc.*		480,601
	3,460	Perry Ellis International, Inc.*		86,189

				1,863,999

		Consumer Services - 4.1%
	8,500	American Public Education, Inc.*		208,675
	8,338	Brinker International, Inc.		412,981
	19,600	Caesars Entertainment Corp.*		166,600
	4,984	Capella Education Co.		437,595
	6,587	Cheesecake Factory, Inc.		394,430
	7,800	DeVry Education Group, Inc.		243,360
	8,115	Domino’s Pizza, Inc.		1,292,233
	9,987	International Game Technology plc		254,868
	10,608	International Speedway Corp. Class A		390,374
	16,197	Scientific Games Corp. Class A*		226,758
	3,811	Sotheby’s*		151,907
	3,064	Texas Roadhouse, Inc.		147,807

				4,327,588

		Diversified Financials - 1.5%
	12,001	Enova International, Inc.*		150,613
	12,600	Ezcorp, Inc. Class A*		134,190
	13,085	KCG Holdings, Inc. Class A*		173,376
	20,600	Navient Corp.		338,458
	11,090	Nelnet, Inc. Class A		562,817
	3,479	World Acceptance Corp.*		223,630

				1,583,084

		Energy - 5.6%
	12,200	Archrock, Inc.		161,040
	32,900	Bill Barrett Corp.*		229,971
	1,648	Clayton Williams Energy, Inc.*		196,540
	17,913	Consol Energy, Inc.		326,554
	20,282	Diamond Offshore Drilling, Inc.		358,991
	11,226	Energen Corp.		647,403

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


		139

Hartford Small/Mid Cap Equity HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6% - (continued)
		Energy - 5.6% - (continued)
	21,375	Ensco plc Class A	$	207,765
	16,486	Newfield Exploration Co.*		667,683
	82,525	Northern Oil and Gas, Inc.*		226,944
	45,720	Overseas Shipholding Group, Inc. Class A		175,108
	18,689	Patterson-UTI Energy, Inc.		503,108
	33,661	Pioneer Energy Services Corp.*		230,578
	20,138	Renewable Energy Group, Inc.*		195,339
	3,177	REX American Resources Corp.*		313,729
	37,152	Sanchez Energy Corp.*		335,483
	19,061	Southwestern Energy Co.*		206,240
	81,643	Teekay Tankers Ltd. Class A		184,513
	7,600	Unit Corp.*		204,212
	8,180	Westmoreland Coal Co.*		144,541
	26,720	WPX Energy, Inc.*		389,310

				5,905,052

		Food & Staples Retailing - 0.2%
	2,500	Weis Markets, Inc.		167,100

		Food, Beverage & Tobacco - 2.7%
	16,079	Blue Buffalo Pet Products, Inc.*		386,539
	3,495	Fresh Del Monte Produce, Inc.		211,902
	3,308	Ingredion, Inc.		413,368
	3,006	John B Sanfilippo & Son, Inc.		211,592
	4,163	National Beverage Corp.		212,646
	5,700	Omega Protein Corp.*		142,785
	31,200	Pilgrim’s Pride Corp.		592,488
	2,928	Sanderson Farms, Inc.		275,935
	6,267	Universal Corp.		399,521

				2,846,776

		Health Care Equipment & Services - 4.7%
	10,846	Align Technology, Inc.*		1,042,626
	5,345	Cardiovascular Systems, Inc.*		129,403
	796	Chemed Corp.		127,686
	4,548	Glaukos Corp.*		155,996
	4,869	HealthEquity, Inc.*		197,292
	5,569	Healthways, Inc.*		126,695
	7,050	Hill-Rom Holdings, Inc.		395,787
	11,017	HMS Holdings Corp.*		200,069
	3,333	LifePoint Health, Inc.*		189,314
	3,332	Magellan Health, Inc.*		250,733
	7,408	Masimo Corp.*		499,299
	27,950	OraSure Technologies, Inc.*		245,401
	10,537	Triple-S Management Corp. Class B*		218,116
	16,500	Veeva Systems, Inc. Class A*		671,550
	3,273	WellCare Health Plans, Inc.*		448,663

				4,898,630

		Household & Personal Products - 1.0%
	4,779	Central Garden & Pet Co.*		158,137
	5,513	Medifast, Inc.		229,506
	4,565	Nu Skin Enterprises, Inc. Class A		218,116
	7,000	Usana Health Sciences, Inc.*		428,400

				1,034,159

		Insurance - 5.1%
	9,688	Ambac Financial Group, Inc.*		217,980
	8,807	Aspen Insurance Holdings Ltd.		484,385
	20,550	Assured Guaranty Ltd.		776,173
	12,600	CNO Financial Group, Inc.		241,290
	5,594	Everest Re Group Ltd.		1,210,541
	23,936	Greenlight Capital Re Ltd. Class A*		545,741


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6% - (continued)
		Insurance - 5.1% - (continued)
	12,817	Maiden Holdings Ltd.	$	223,657
	24,227	MBIA, Inc.*		259,229
	6,426	National General Holdings Corp.		160,586
	9,690	Reinsurance Group of America, Inc.		1,219,293

				5,338,875

		Materials - 5.2%
	4,433	A Schulman, Inc.		148,284
	8,300	American Vanguard Corp.		158,945
	4,703	Cabot Corp.		237,690
	26,100	Chemours Co.		576,549
	7,944	Clearwater Paper Corp.*		520,729
	25,335	Cliffs Natural Resources, Inc.*		213,067
	6,400	Commercial Metals Co.		139,392
	15,515	Domtar Corp.		605,550
	5,979	Greif, Inc. Class A		306,783
	4,300	Innophos Holdings, Inc.		224,718
	5,100	Koppers Holdings, Inc.*		205,530
	10,636	Rayonier Advanced Materials, Inc.		164,433
	20,754	Steel Dynamics, Inc.		738,427
	7,881	Stepan Co.		642,144
	4,577	Trinseo S.A.		271,416
	19,441	Tronox Ltd. Class A		200,437
	2,744	Worthington Industries, Inc.		130,175

				5,484,269

		Media - 0.6%
	30,200	Gannett Co., Inc.		293,242
	21,603	New Media Investment Group, Inc.		345,432

				638,674

		Pharmaceuticals, Biotechnology & Life Sciences - 6.6%
	7,247	AMAG Pharmaceuticals, Inc.*		252,196
	9,400	Amphastar Pharmaceuticals, Inc.*		173,148
	4,257	BioSpecifics Technologies Corp.*		237,115
	7,392	Blueprint Medicines Corp.*		207,346
	26,288	Bruker Corp.		556,780
	2,900	Cambrex Corp.*		156,455
	18,698	Corcept Therapeutics, Inc.*		135,748
	7,468	Enanta Pharmaceuticals, Inc.*		250,178
	32,786	Exelixis, Inc.*		488,839
	5,292	Five Prime Therapeutics, Inc.*		265,182
	2,194	INC Research Holdings, Inc. Class A*		115,404
	13,104	Lexicon Pharmaceuticals, Inc.*		181,228
	14,300	OncoMed Pharmaceuticals, Inc.*		110,253
	98,244	PDL BioPharma, Inc.		208,277
	48,006	PharmAthene, Inc.*		156,020
	4,225	PRA Health Sciences, Inc.*		232,882
	23,356	Progenics Pharmaceuticals, Inc.*		201,796
	15,323	Quintiles IMS Holdings, Inc.*		1,165,314
	18,200	Seres Therapeutics, Inc.*		180,180
	7,774	Supernus Pharmaceuticals, Inc.*		196,294
	6,800	United Therapeutics Corp.*		975,324
	9,853	Vanda Pharmaceuticals, Inc.*		157,155
	11,242	Xencor, Inc.*		295,889

				6,899,003

		Real Estate - 12.6%
	14,900	AG Mortgage Investment Trust, Inc. REIT		254,939
	23,500	AGNC Investment Corp. REIT		426,055
	32,691	American Homes 4 Rent Class A, REIT		685,857
	14,129	Apollo Commercial Real Estate Finance, Inc. REIT		234,824

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


		140

Hartford Small/Mid Cap Equity HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6% - (continued)
		Real Estate - 12.6% - (continued)
	9,697	ARMOUR Residential, Inc. REIT	$	210,328
	55,800	Brandywine Realty Trust REIT		921,258
	45,967	Brixmor Property Group, Inc. REIT		1,122,514
	7,550	Care Capital Properties, Inc. REIT		188,750
	9,600	CareTrust, Inc. REIT		147,072
	26,053	CBL & Associates Properties, Inc. REIT		299,609
	19,554	Chimera Investment Corp. REIT		332,809
	4,583	CorEnergy Infrastructure Trust, Inc. REIT		159,855
	26,328	CYS Investments, Inc. REIT		203,515
	57,155	DDR Corp. REIT		872,757
	10,540	Four Corners Property Trust, Inc. REIT		216,281
	34,319	Gramercy Property Trust REIT		315,048
	27,312	Hospitality Properties Trust REIT		866,883
	15,317	Invesco Mortgage Capital, Inc. REIT		223,628
	42,630	Mack-Cali Realty Corp. REIT		1,237,123
	28,370	MFA Financial, Inc. REIT		216,463
	25,714	MTGE Investment Corp. REIT		403,710
	13,700	Pennsylvania REIT		259,752
	9,754	PennyMac Mortgage Investment Trust REIT		159,673
	13,809	Physicians Realty Trust REIT		261,819
	7,446	Piedmont Office Realty Trust, Inc. Class A, REIT		155,696
	31,400	Ramco-Gershenson Properties Trust REIT		520,612
	28,151	Redwood Trust, Inc. REIT		428,177
	26,297	Select Income REIT		662,684
	13,500	Summit Hotel Properties, Inc. REIT		216,405
	47,300	Two Harbors Investment Corp. REIT		412,456
	20,673	Washington Prime Group, Inc. REIT		215,206
	16,400	Western Asset Mortgage Capital Corp. REIT		165,148
	11,600	Xenia Hotels & Resorts, Inc. REIT		225,272

				13,222,178

		Retailing - 4.1%
	21,824	American Eagle Outfitters, Inc.		331,070
	7,151	Big 5 Sporting Goods Corp.		124,070
	9,600	Big Lots, Inc.		482,016
	9,000	Buckle, Inc.		205,200
	4,885	Burlington Stores, Inc.*		414,004
	9,503	Chico’s FAS, Inc.		136,748
	2,302	Children’s Place, Inc.		232,387
	7,184	Dick’s Sporting Goods, Inc.		381,470
	6,100	Finish Line, Inc. Class A		114,741
	5,090	Foot Locker, Inc.		360,830
	11,821	Francescas Holding Corp.*		213,133
	15,457	Overstock.com, Inc.*		270,498
	6,200	PetMed Express, Inc.		143,034
	14,200	Select Comfort Corp.*		321,204
	16,373	Tile Shop Holdings, Inc.*		320,092
	7,788	Urban Outfitters, Inc.*		221,802

				4,272,299

		Semiconductors & Semiconductor Equipment - 2.6%
	21,163	Advanced Micro Devices, Inc.*		239,988
	4,744	Ambarella, Inc.*		256,793
	19,800	Amkor Technology, Inc.*		208,890
	4,414	Inphi Corp.*		196,953
	10,395	MaxLinear, Inc. Class A*		226,611
	20,330	Photronics, Inc.*		229,729
	37,521	Teradyne, Inc.		953,033
	10,441	Tessera Holding Corp.		461,492

				2,773,489


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6% - (continued)
		Software & Services - 5.5%
	29,293	A10 Networks, Inc.*	$	243,425
	7,162	Alarm.com Holdings, Inc.*		199,318
	9,460	Amdocs Ltd.		551,045
	5,800	Barracuda Networks, Inc.*		124,294
	47,411	Bazaarvoice, Inc.*		229,943
	14,700	Brightcove, Inc.*		118,335
	3,900	Cardtronics plc Class A*		212,823
	16,558	Convergys Corp.		406,665
	5,190	CSG Systems International, Inc.		251,196
	10,442	Manhattan Associates, Inc.*		553,739
	6,524	Progress Software Corp.		208,311
	12,188	PROS Holdings, Inc.*		262,286
	24,139	RetailMeNot, Inc.*		224,493
	5,600	Shutterstock, Inc.*		266,112
	5,600	Sykes Enterprises, Inc.*		161,616
	18,813	Synopsys, Inc.*		1,107,333
	16,547	Teradata Corp.*		449,582
	4,474	Wix.com Ltd.*		199,317

				5,769,833

		Technology Hardware & Equipment - 5.7%
	14,200	3D Systems Corp.*		188,718
	7,310	Arista Networks, Inc.*		707,389
	26,376	AVX Corp.		412,257
	13,400	Benchmark Electronics, Inc.*		408,700
	12,631	CommScope Holding Co., Inc.*		469,873
	15,100	Daktronics, Inc.		161,570
	7,900	Dolby Laboratories, Inc. Class A		357,001
	31,083	Extreme Networks, Inc.*		156,348
	12,824	Finisar Corp.*		388,183
	3,892	InterDigital, Inc.		355,534
	5,400	NETGEAR, Inc.*		293,490
	12,308	Sanmina Corp.*		451,088
	7,272	ScanSource, Inc.*		293,425
	20,678	Sonus Networks, Inc.*		130,271
	13,243	TTM Technologies, Inc.*		180,502
	10,140	Ubiquiti Networks, Inc.*		586,092
	24,331	Vishay Intertechnology, Inc.		394,162

				5,934,603

		Telecommunication Services - 0.8%
	3,700	ATN International, Inc.		296,481
	17,796	Telephone & Data Systems, Inc.		513,771

				810,252

		Transportation - 2.6%
	16,729	Alaska Air Group, Inc.		1,484,364
	1,383	Allegiant Travel Co.		230,131
	2,126	Copa Holdings S.A. Class A		193,105
	7,225	Hawaiian Holdings, Inc.*		411,825
	17,275	Swift Transportation Co.*		420,819

				2,740,244

		Utilities - 2.5%
	58,048	Atlantic Power Corp.		145,120
	9,643	OGE Energy Corp.		322,558
	4,887	ONE Gas, Inc.		312,572
	16,895	Pinnacle West Capital Corp.		1,318,317

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


		141

Hartford Small/Mid Cap Equity HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.6% - (continued)
		Utilities - 2.5% - (continued)
	3,200	Southwest Gas Corp.	$	245,184
	7,572	Spark Energy, Inc. Class A		229,432

				2,573,183

		Total Common Stocks (cost $89,071,868)	$	103,418,327


		Total Long-Term Investments (cost $89,071,868)	$	103,418,327


SHORT-TERM INVESTMENTS - 2.8%
		Other Investment Pools & Funds - 2.8%
	2,887,193	Morgan Stanley Institutional Liquidity Funds, Institutional Class	$	2,887,193


		Total Short-Term Investments (cost $2,887,193)	$	2,887,193



Total Investments (cost $91,959,061)^{^}	101.4	%	$	106,305,520
Other Assets and Liabilities	(1.4	)%		(1,428,692	)

Total Net Assets	100.0	%	$	104,876,828

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


		142

Hartford Small/Mid Cap Equity HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $91,971,737 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	17,926,310
Unrealized Depreciation		(3,592,527	)

Net Unrealized Appreciation	$	14,333,783

*	Non-income producing.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt
REIT		Real Estate Investment Trust

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


		143

Hartford Small/Mid Cap Equity HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Automobiles & Components	$	1,917,346	$	1,917,346	$	—	$	—
Banks		6,309,429		6,309,429		—		—
Capital Goods		11,983,725		11,983,725		—		—
Commercial & Professional Services		4,124,537		4,124,537		—		—
Consumer Durables & Apparel		1,863,999		1,863,999		—		—
Consumer Services		4,327,588		4,327,588		—		—
Diversified Financials		1,583,084		1,583,084		—		—
Energy		5,905,052		5,905,052		—		—
Food & Staples Retailing		167,100		167,100		—		—
Food, Beverage & Tobacco		2,846,776		2,846,776		—		—
Health Care Equipment & Services		4,898,630		4,898,630		—		—
Household & Personal Products		1,034,159		1,034,159		—		—
Insurance		5,338,875		5,338,875		—		—
Materials		5,484,269		5,484,269		—		—
Media		638,674		638,674		—		—
Pharmaceuticals, Biotechnology & Life Sciences		6,899,003		6,899,003		—		—
Real Estate		13,222,178		13,222,178		—		—
Retailing		4,272,299		4,272,299		—		—
Semiconductors & Semiconductor Equipment		2,773,489		2,773,489		—		—
Software & Services		5,769,833		5,769,833		—		—
Technology Hardware & Equipment		5,934,603		5,934,603		—		—
Telecommunication Services		810,252		810,252		—		—
Transportation		2,740,244		2,740,244		—		—
Utilities		2,573,183		2,573,183		—		—
Short-Term Investments		2,887,193		2,887,193		—		—

Total	$	106,305,520	$	106,305,520	$	—	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

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


		144

Hartford Stock HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.8%
		Banks - 2.4%
	292,593	PNC Financial Services Group, Inc.	$	34,221,677

		Capital Goods - 9.1%
	102,231	General Dynamics Corp.		17,651,204
	282,705	Honeywell International, Inc.		32,751,374
	130,864	Lockheed Martin Corp.		32,708,148
	88,344	Northrop Grumman Corp.		20,547,048
	266,537	United Technologies Corp.		29,217,786

				132,875,560

		Consumer Durables & Apparel - 5.3%
	1,059,084	NIKE, Inc. Class B		53,833,240
	446,258	VF Corp.		23,807,864

				77,641,104

		Consumer Services - 2.0%
	243,445	McDonald’s Corp.		29,632,125

		Diversified Financials - 3.3%
	345,933	American Express Co.		25,626,717
	57,980	BlackRock, Inc.		22,063,709

				47,690,426

		Energy - 4.1%
	333,456	Exxon Mobil Corp.		30,097,739
	344,858	Schlumberger Ltd.		28,950,829

				59,048,568

		Food & Staples Retailing - 7.4%
	335,239	Costco Wholesale Corp.		53,675,116
	316,309	CVS Health Corp.		24,959,943
	343,631	Walgreens Boots Alliance, Inc.		28,438,902

				107,073,961

		Food, Beverage & Tobacco - 6.9%
	874,288	Coca-Cola Co.		36,247,980
	1,149,745	Diageo plc		29,835,692
	320,127	PepsiCo, Inc.		33,494,888

				99,578,560

		Health Care Equipment & Services - 9.5%
	524,283	Cardinal Health, Inc.		37,732,647
	218,048	McKesson Corp.		30,624,842
	506,129	Medtronic plc		36,051,569
	207,156	UnitedHealth Group, Inc.		33,153,246

				137,562,304

		Household & Personal Products - 3.7%
	559,150	Colgate-Palmolive Co.		36,590,776
	211,904	Procter & Gamble Co.		17,816,888

				54,407,664

		Insurance - 5.0%
	304,891	Chubb Ltd.		40,282,199
	473,430	Marsh & McLennan Cos., Inc.		31,999,134

				72,281,333

		Materials - 3.4%
	186,131	Ecolab, Inc.		21,818,276
	240,940	Praxair, Inc.		28,235,759

				50,054,035


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 98.8% - (continued)
		Media - 1.5%
	215,236	Walt Disney Co.	$	22,431,896

		Pharmaceuticals, Biotechnology & Life Sciences - 7.3%
	182,222	Amgen, Inc.		26,642,679
	264,276	Johnson & Johnson		30,447,238
	552,097	Merck & Co., Inc.		32,501,950
	72,627	Roche Holding AG		16,555,511

				106,147,378

		Real Estate - 3.9%
	214,935	American Tower Corp. REIT		22,714,331
	148,541	Public Storage REIT		33,198,913

				55,913,244

		Retailing - 5.0%
	9,440,100	Allstar Co.^*(1)(2)(3)		9,817,704
	389,173	Lowe’s Cos., Inc.		27,677,984
	467,004	TJX Cos., Inc.		35,086,010

				72,581,698

		Software & Services - 11.2%
	301,977	Accenture plc Class A		35,370,566
	376,378	Automatic Data Processing, Inc.		38,684,131
	846,825	Microsoft Corp.		52,621,706
	466,824	Visa, Inc. Class A		36,421,608

				163,098,011

		Transportation - 7.8%
	531,283	Canadian National Railway Co.		35,755,210
	345,491	Union Pacific Corp.		35,820,507
	369,855	United Parcel Service, Inc. Class B		42,400,177

				113,975,894


		Total Common Stocks (cost $1,187,459,514)	$	1,436,215,438


		Total Long-Term Investments (cost $1,187,459,514)	$	1,436,215,438


SHORT-TERM INVESTMENTS - 1.6%
		Other Investment Pools & Funds - 1.6%
	22,506,659	Fidelity Institutional Government Fund, Institutional Class	$	22,506,659


		Total Short-Term Investments (cost $22,506,659)	$	22,506,659



Total Investments (cost $1,209,966,173)^{^}	100.4	%	$	1,458,722,097
Other Assets and Liabilities	(0.4	)%		(5,778,810	)

Total Net Assets	100.0	%	$	1,452,943,287

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


		145

Hartford Stock HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $1,214,840,138 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	262,973,197
Unrealized Depreciation		(19,091,238	)

Net Unrealized Appreciation	$	243,881,959

*	Non-income producing.

⁽¹⁾

This security is valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of this security was $9,817,704, which represents 0.7% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

⁽²⁾


Period Acquired		Shares/Par	Security	Cost
	08/2011	9,440,100	Allstar Co.	$	4,106,619

At December 31, 2016, the aggregate value of these securities was $9,817,704, which represents 0.7% of total net assets.

⁽³⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, this holding is determined to be liquid. At December 31, 2016, the aggregate value of this security was $9,817,704, which represents 0.7% of total net assets.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
REIT						Real Estate Investment Trust

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


		146

Hartford Stock HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Banks	$	34,221,677	$	34,221,677	$	—	$	—
Capital Goods		132,875,560		132,875,560		—		—
Consumer Durables & Apparel		77,641,104		77,641,104		—		—
Consumer Services		29,632,125		29,632,125		—		—
Diversified Financials		47,690,426		47,690,426		—		—
Energy		59,048,568		59,048,568		—		—
Food & Staples Retailing		107,073,961		107,073,961		—		—
Food, Beverage & Tobacco		99,578,560		69,742,868		29,835,692		—
Health Care Equipment & Services		137,562,304		137,562,304		—		—
Household & Personal Products		54,407,664		54,407,664		—		—
Insurance		72,281,333		72,281,333		—		—
Materials		50,054,035		50,054,035		—		—
Media		22,431,896		22,431,896		—		—
Pharmaceuticals, Biotechnology & Life Sciences		106,147,378		89,591,867		16,555,511		—
Real Estate		55,913,244		55,913,244		—		—
Retailing		72,581,698		62,763,994		—		9,817,704
Software & Services		163,098,011		163,098,011		—		—
Transportation		113,975,894		113,975,894		—		—
Short-Term Investments		22,506,659		22,506,659		—		—

Total	$	1,458,722,097	$	1,402,513,190	$	46,391,203	$	9,817,704

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks		Total
Beginning balance	$	8,968,095	$	8,968,095
Purchases		—		—
Sales		—		—
Accrued discounts/(premiums)		—		—
Total realized gain/(loss)		—		—
Net change in unrealized appreciation/depreciation		849,609		849,609
Transfers into Level 3		—		—
Transfers out of Level 3		—		—

Ending balance	$	9,817,704	$	9,817,704

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $849,609.

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


		147

Hartford Total Return Bond HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 30.0%
			Asset-Backed-Automobile - 1.2%
	$	3,800,000	AmeriCredit Automobile Receivables Trust 2.72%, 09/09/2019	$	3,825,369
		5,619,625	Credit Acceptance Auto Loan Trust 1.88%, 03/15/2022⁽¹⁾		5,627,460
			First Investors Auto Owner Trust
		5,241,283	1.67%, 11/16/2020⁽¹⁾		5,243,589
		1,750,000	2.39%, 11/16/2020⁽¹⁾		1,754,612
		1,260,000	GM Financial Automobile Leasing Trust 1.96%, 03/20/2018⁽¹⁾		1,263,367
		5,990,000	Honor Automobile Trust Securitization 2.94%, 11/15/2019⁽¹⁾		5,983,924
			Santander Drive Auto Receivables Trust
		1,092,821	1.82%, 05/15/2019		1,093,799
		1,035,369	2.25%, 06/17/2019		1,038,767
		4,006,468	2.36%, 04/15/2020		4,023,404

					29,854,291

			Asset-Backed-Finance & Insurance - 14.2%
		9,180,000	American Money Management Corp. 2.33%, 07/27/2026⁽¹⁾⁽²⁾		9,188,895
			Apidos CLO
		6,015,000	2.33%, 01/19/2025⁽¹⁾⁽²⁾		6,014,946
		2,555,000	2.73%, 07/15/2023⁽¹⁾⁽²⁾		2,558,930
		10,350,000	Ares CLO Ltd. 2.40%, 04/17/2026⁽¹⁾⁽²⁾		10,371,083
		7,610,000	Atlas Senior Loan Fund Ltd. 2.42%, 10/15/2026⁽¹⁾⁽²⁾		7,606,157
		790,000	Atrium CDO Corp. 2.00%, 07/16/2025⁽¹⁾⁽²⁾		789,603
		10,050,000	Avery Point IV CLO Ltd. 2.40%, 04/25/2026⁽¹⁾⁽²⁾		10,091,929
		2,330,000	Babson CLO Ltd. 2.37%, 07/20/2025⁽¹⁾⁽²⁾		2,324,783
		1,192,917	Cal Funding II Ltd. 3.47%, 10/25/2027⁽¹⁾		1,155,120
		7,890,000	Carlyle Global Market Strategies Ltd. 2.36%, 04/27/2027⁽¹⁾⁽²⁾		7,900,541
			Cent CLO Ltd.
		9,345,000	2.36%, 01/25/2026⁽¹⁾⁽²⁾		9,340,271
		8,090,000	2.37%, 04/17/2026⁽¹⁾⁽²⁾		8,083,107
		6,305,000	2.38%, 07/27/2026⁽¹⁾⁽²⁾		6,307,371
		3,115,000	2.93%, 04/17/2026⁽¹⁾⁽²⁾		3,111,863
			CIFC Funding Ltd.
		7,240,000	2.41%, 08/14/2024⁽¹⁾⁽²⁾		7,235,301
		8,965,000	2.41%, 05/24/2026⁽¹⁾⁽²⁾		8,983,289
		198,695	Consumer Credit Origination Loan Trust 2.82%, 03/15/2021⁽¹⁾		198,819
			Dryden Senior Loan Fund
		6,710,000	2.31%, 07/15/2027⁽¹⁾⁽²⁾		6,706,618
		7,852,000	2.32%, 10/15/2028⁽¹⁾⁽²⁾		7,848,859
		1,569,018	Fieldstone Mortgage Investment Corp. 1.03%, 05/25/2036⁽²⁾		1,077,311
		3,267,261	First Franklin Mortgage Loan Trust 1.00%, 04/25/2036⁽²⁾		2,161,538
		2,210,000	Flatiron CLO Ltd. 2.78%, 07/17/2026⁽¹⁾⁽²⁾		2,199,668
		3,795,000	Green Tree Agency Advance Funding Trust 3.10%, 10/15/2048⁽¹⁾		3,795,000
		4,032,379	GSAMP Trust 0.85%, 01/25/2037⁽²⁾		2,425,833


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 30.0% - (continued)
			Asset-Backed-Finance & Insurance - 14.2% - (continued)
	$	4,965,000	Highbridge Loan Management Ltd. 2.33%, 05/05/2027⁽¹⁾⁽²⁾	$	4,958,848
		1,345,000	LCM L.P. 2.22%, 04/15/2022⁽¹⁾⁽²⁾		1,352,034
		4,590,000	Lendmark Funding Trust 3.26%, 04/21/2025⁽¹⁾		4,560,411
		11,335,000	Limerock CLO Ltd. 2.38%, 04/18/2026⁽¹⁾⁽²⁾		11,332,404
			Madison Park Funding Ltd.
		7,200,000	2.16%, 10/23/2025⁽¹⁾⁽²⁾		7,208,806
		6,520,000	2.33%, 01/19/2025⁽¹⁾⁽²⁾		6,533,060
		9,860,000	2.38%, 07/20/2026⁽¹⁾⁽²⁾		9,915,640
			Magnetite CLO Ltd.
		8,310,000	2.30%, 07/25/2026⁽¹⁾⁽²⁾		8,313,424
		6,695,000	2.83%, 07/25/2026⁽¹⁾⁽²⁾		6,697,973
			Nationstar HECM Loan Trust
		781,487	2.24%, 06/25/2026⁽¹⁾		784,174
		2,383,073	2.98%, 02/25/2026⁽¹⁾		2,385,451
		8,265,000	Neuberger Berman CLO Ltd. 2.35%, 08/04/2025⁽¹⁾⁽²⁾		8,294,969
		6,250,000	NRZ Advance Receivables Trust 3.11%, 12/15/2050⁽¹⁾		6,224,319
		3,030,000	Oak Hill Credit Partners X Ltd. 2.35%, 07/20/2026⁽¹⁾⁽²⁾		3,030,309
		7,885,000	Oaktree EIF II Ltd. 2.46%, 02/15/2026⁽¹⁾⁽²⁾		7,883,502
		6,780,000	OCP CLO Ltd. 2.41%, 04/17/2027⁽¹⁾⁽²⁾		6,786,000
		8,960,000	OneMain Financial Issuance Trust 4.10%, 03/20/2028⁽¹⁾		9,122,355
			OZLM Funding Ltd.
		7,495,000	2.34%, 04/30/2027⁽¹⁾⁽²⁾		7,504,369
		10,530,000	2.43%, 04/17/2026⁽¹⁾⁽²⁾		10,565,497
		9,700,000	Race Point CLO Ltd. 2.39%, 04/15/2027⁽¹⁾⁽²⁾		9,719,332
		5,250,000	SBA Tower Trust 2.90%, 10/15/2044⁽¹⁾⁽³⁾		5,289,843
		504,653	Securitized Asset Backed Receivables LLC 0.85%, 07/25/2036⁽²⁾		244,178
		7,325,000	Shackleton CLO Ltd. 2.36%, 07/17/2026⁽¹⁾⁽²⁾		7,342,976
			SoFi Consumer Loan Program LLC
		4,917,192	3.05%, 12/26/2025⁽¹⁾		4,899,873
		4,564,848	3.09%, 10/27/2025⁽¹⁾		4,560,906
			Sound Point CLO Ltd.
		6,354,000	2.25%, 01/21/2026⁽¹⁾⁽²⁾		6,350,785
		7,680,000	2.41%, 04/15/2027⁽¹⁾⁽²⁾		7,695,752
		2,137,000	5.48%, 07/15/2025⁽¹⁾⁽²⁾		1,993,738
			Springleaf Funding Trust
		2,464,990	2.41%, 12/15/2022⁽¹⁾		2,465,897
		4,985,000	2.90%, 11/15/2029⁽¹⁾		4,966,555
		5,340,000	SPS Servicer Advance Receivables Trust 2.75%, 11/15/2049⁽¹⁾		5,311,704
		8,660,000	Symphony CLO Ltd. 2.36%, 07/14/2026⁽¹⁾⁽²⁾		8,663,196
		7,660,000	Treman Park CLO Ltd. 2.25%, 04/20/2027⁽¹⁾⁽²⁾		7,656,170
			Voya CLO Ltd.
		4,905,000	2.02%, 04/18/2026⁽¹⁾⁽²⁾		4,902,547

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


		148

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 30.0% - (continued)
			Asset-Backed-Finance & Insurance - 14.2% - (continued)
			Voya CLO Ltd. - (continued)
	$	2,915,000	2.33%, 07/17/2026⁽¹⁾⁽²⁾	$	2,917,017
		7,550,000	2.36%, 04/18/2027⁽¹⁾⁽²⁾		7,556,984
		2,670,000	2.98%, 04/18/2027⁽¹⁾⁽²⁾		2,668,686
		10,785,000	York CLO Ltd. 2.73%, 01/20/2030⁽¹⁾⁽²⁾		10,779,607

					356,916,126

			Asset-Backed-Home Equity - 1.0%
			GSAA Home Equity Trust
		1,418,442	0.83%, 12/25/2046⁽²⁾		768,214
		12,121,299	0.84%, 02/25/2037⁽²⁾		6,696,449
		6,415,282	0.86%, 03/25/2037⁽²⁾		3,423,173
		4,431,410	0.94%, 11/25/2036⁽²⁾		2,160,679
		145,781	1.00%, 11/25/2036⁽²⁾		81,319
		1,171,511	1.06%, 03/25/2036⁽²⁾		784,670
		709,841	5.88%, 09/25/2036⁽³⁾		366,275
		728,977	5.99%, 06/25/2036⁽²⁾		359,542
		1,000,687	6.30%, 06/25/2036		493,302
		418,899	Morgan Stanley Asset-Backed Securities Capital I, Inc. Trust 0.91%, 06/25/2036⁽²⁾		360,974
		1,670,958	Morgan Stanley Mortgage Loan Trust 0.93%, 11/25/2036⁽²⁾		730,411
		6,531,000	NRZ Advance Receivables Trust 2.58%, 10/15/2049⁽¹⁾		6,462,758
		433,355	Renaissance Home Equity Loan Trust 5.91%, 04/25/2037⁽³⁾		214,338
			Soundview Home Loan Trust
		3,225,000	0.94%, 07/25/2037⁽²⁾		2,240,227
		1,090,000	1.01%, 11/25/2036⁽²⁾		781,716

					25,924,047

			Commercial Mortgage-Backed Securities - 7.1%
			Banc of America Commercial Mortgage Trust
		2,860,000	3.12%, 09/15/2048⁽¹⁾⁽²⁾		1,527,043
		770,000	3.71%, 09/15/2048		798,426
		3,080,376	5.49%, 02/10/2051		3,133,418
		1,105,000	Bear Stearns Commercial Mortgage Securities, Inc. 5.12%, 10/12/2042⁽²⁾		1,074,538
			Citigroup Commercial Mortgage Trust
		25,198,334	1.12%, 07/10/2047⁽²⁾⁽⁴⁾		1,493,024
		27,321,388	1.17%, 04/10/2048⁽²⁾⁽⁴⁾		1,765,377
		465,000	2.94%, 04/10/2048		457,573
		1,300,000	3.11%, 04/10/2048⁽¹⁾		896,882
		1,535,000	3.76%, 06/10/2048		1,599,762
		970,000	3.82%, 11/10/2048		1,010,029
		230,000	3.86%, 05/10/2047		242,079
		1,175,000	4.40%, 03/10/2047⁽¹⁾⁽²⁾		802,695
		445,000	4.90%, 03/10/2047⁽¹⁾⁽²⁾		386,711
		1,962,622	Commercial Mortgage Loan Trust 6.10%, 12/10/2049⁽²⁾		2,000,779
			Commercial Mortgage Pass-Through Certificates
		9,918,220	0.84%, 02/10/2047⁽²⁾⁽⁴⁾		332,753
		970,000	2.82%, 10/15/2045		981,968
		535,000	4.24%, 02/10/2047⁽²⁾		577,687
		1,315,000	4.75%, 10/15/2045⁽¹⁾⁽²⁾		799,849
			Commercial Mortgage Trust
		8,089,294	1.97%, 07/10/2046^(1)(2)(4)		453,970
		1,035,000	2.54%, 12/10/2045		1,029,783


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 30.0% - (continued)
			Commercial Mortgage-Backed Securities - 7.1% - (continued)
			Commercial Mortgage Trust - (continued)
	$	1,670,000	2.85%, 10/15/2045	$	1,687,844
		785,000	3.10%, 03/10/2046		798,846
		350,000	3.18%, 02/10/2048		352,454
		930,000	3.21%, 03/10/2046		951,436
		1,760,000	3.35%, 02/10/2048		1,774,381
		6,780,000	3.42%, 03/10/2031⁽¹⁾		6,963,591
		1,260,000	3.61%, 06/10/2046⁽²⁾		1,317,964
		705,000	3.62%, 07/10/2050		723,209
		2,120,000	3.69%, 08/10/2047		2,193,745
		1,150,133	3.80%, 08/10/2047		1,205,018
		1,140,000	3.90%, 07/10/2050		1,191,274
		575,125	3.96%, 03/10/2047		605,568
		1,955,000	4.02%, 07/10/2045		2,086,925
		630,000	4.07%, 02/10/2047⁽²⁾		672,661
		1,045,000	4.21%, 08/10/2046⁽²⁾		1,127,497
		615,085	4.23%, 07/10/2045⁽²⁾		666,807
		264,117	Credit Suisse Commercial Mortgage Trust 5.69%, 06/15/2039⁽²⁾		265,134
		1,040,951	Credit Suisse First Boston Mortgage Securities Corp. 4.88%, 04/15/2037		1,012,916
			CSAIL Commercial Mortgage Trust
		64,999,002	0.88%, 06/15/2057⁽²⁾⁽⁴⁾		3,263,444
		3,914,022	1.06%, 11/15/2048⁽²⁾⁽⁴⁾		244,047
		920,000	3.36%, 08/15/2048⁽²⁾		682,192
		545,000	3.54%, 11/15/2048		557,699
		8,373,000	3.72%, 08/15/2048		8,732,572
		8,360,176	DBUBS Mortgage Trust 0.75%, 11/10/2046^(1)(2)(4)		184,317
		3,169,081	Four Times Square Trust Commercial Mortgage Pass-Through Certificates 5.40%, 12/13/2028⁽¹⁾		3,483,232
			FREMF Mortgage Trust
		4,680,000	3.00%, 10/25/2047⁽¹⁾⁽²⁾		4,682,215
		5,485,000	5.25%, 09/25/2043⁽¹⁾⁽²⁾		5,894,318
		1,798,848	GE Business Loan Trust 1.70%, 05/15/2034⁽¹⁾⁽²⁾		1,556,605
			GS Mortgage Securities Trust
		51,145,371	0.21%, 07/10/2046⁽²⁾⁽⁴⁾		308,979
		6,868,568	1.37%, 08/10/2044^(1)(2)(4)		340,944
		100,000	2.94%, 02/10/2046		101,403
		4,340,000	2.95%, 11/05/2034⁽¹⁾		4,340,400
		1,060,000	3.58%, 06/10/2047⁽¹⁾		612,475
		1,580,166	3.67%, 04/10/2047⁽¹⁾		803,878
		4,110,000	4.00%, 04/10/2047		4,364,414
		785,121	4.07%, 01/10/2047		836,058
		1,115,000	4.51%, 11/10/2047⁽¹⁾⁽²⁾		899,124
		2,960,000	4.87%, 04/10/2047⁽¹⁾⁽²⁾		2,051,880
		1,675,924	JP Morgan Chase Commercial Mortgage Securities Corp. 4.42%, 12/15/2047⁽¹⁾⁽²⁾		1,268,110
			JP Morgan Chase Commercial Mortgage Securities Trust
		8,392,207	2.16%, 02/12/2051⁽²⁾		8,026,717
		2,185,000	2.73%, 10/15/2045⁽¹⁾⁽²⁾		1,204,787
		3,441,113	3.91%, 05/05/2030⁽¹⁾		3,575,231
		470,000	4.00%, 08/15/2046⁽¹⁾⁽²⁾		368,833
			JPMBB Commercial Mortgage Securities Trust
		29,474,841	0.85%, 09/15/2047⁽²⁾⁽⁴⁾		1,063,196
		8,288,070	0.95%, 05/15/2048⁽²⁾⁽⁴⁾		336,190

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


		149

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 30.0% - (continued)
			Commercial Mortgage-Backed Securities - 7.1% - (continued)
			JPMBB Commercial Mortgage Securities Trust - (continued)
	$	825,000	2.91%, 10/15/2048	$	812,650
		810,060	3.61%, 05/15/2048		835,516
		1,300,000	3.74%, 10/15/2048⁽¹⁾⁽²⁾		933,172
		700,000	3.78%, 08/15/2047		733,382
		290,429	JPMDB Commercial Mortgage Securities Trust 3.10%, 12/15/2049⁽¹⁾⁽²⁾		210,164
			LB-UBS Commercial Mortgage Trust
		2,136,760	5.86%, 07/15/2040⁽²⁾		2,151,503
		1,074,536	6.11%, 04/15/2041⁽²⁾		1,113,989
		230,509	Lehman Brothers Small Balance Commercial 5.52%, 09/25/2030⁽¹⁾⁽²⁾		225,048
			Merrill Lynch/Countrywide Commercial Mortgage Trust
		3,724,271	5.70%, 09/12/2049		3,798,541
		5,025,189	5.73%, 06/12/2050⁽²⁾		5,057,273
			Morgan Stanley Bank of America Merrill Lynch Trust
		1,608,417	1.12%, 10/15/2048⁽²⁾⁽⁴⁾		110,587
		16,161,753	1.15%, 12/15/2047⁽²⁾⁽⁴⁾		897,877
		940,000	3.06%, 10/15/2048⁽¹⁾		655,421
		890,000	3.10%, 11/15/2049		872,332
		1,080,000	3.13%, 12/15/2048		1,094,761
		1,320,000	3.18%, 08/15/2045		1,358,077
		4,320,000	3.74%, 08/15/2047		4,504,597
		795,172	4.26%, 10/15/2046⁽²⁾		856,600
		1,605,000	4.50%, 08/15/2045⁽¹⁾		1,096,732
			Morgan Stanley Capital I Trust
		43,332,546	0.46%, 09/15/2047^(1)(2)(4)		626,944
		625,000	2.78%, 08/15/2049		602,625
		4,920,000	3.47%, 08/11/2029⁽¹⁾		5,099,409
		1,460,000	5.16%, 07/15/2049⁽¹⁾⁽²⁾		1,092,573
		920,000	5.33%, 10/12/2052⁽¹⁾⁽²⁾		642,250
		1,213,002	5.81%, 12/12/2049		1,230,849
		570,000	6.28%, 01/11/2043⁽¹⁾⁽²⁾		565,400
			Morgan Stanley Re-Remic Trust
		776,632	5.79%, 08/12/2045⁽¹⁾⁽²⁾		778,507
		776,632	5.79%, 08/15/2045⁽¹⁾⁽²⁾		778,573
		1,365,000	SFAVE Commercial Mortgage Securities Trust 3.87%, 01/05/2043⁽¹⁾⁽²⁾		1,342,477
			UBS-Barclays Commercial Mortgage Trust
		1,930,000	3.09%, 08/10/2049		1,976,091
		2,065,000	3.19%, 03/10/2046		2,105,251
		975,000	3.24%, 04/10/2046		997,054
		985,000	4.09%, 03/10/2046⁽¹⁾⁽²⁾		676,210
			Wells Fargo Commercial Mortgage Trust
		21,618,447	1.19%, 05/15/2048⁽²⁾⁽⁴⁾		1,422,157
		1,665,000	2.92%, 10/15/2045		1,694,384
		440,000	3.41%, 12/15/2047		447,297
		790,000	3.56%, 01/15/2059		809,881
		975,000	3.64%, 06/15/2048		1,005,982
		390,000	3.96%, 12/15/2047⁽¹⁾⁽²⁾		301,069
		430,000	4.10%, 05/15/2048⁽²⁾		339,703
		665,000	4.23%, 06/15/2048⁽²⁾		507,739
			WF-RBS Commercial Mortgage Trust
		255,115	2.88%, 12/15/2045		258,034
		550,000	3.07%, 03/15/2045		560,435
		450,000	3.35%, 05/15/2045		454,011


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 30.0% - (continued)
			Commercial Mortgage-Backed Securities - 7.1% - (continued)
			WF-RBS Commercial Mortgage Trust - (continued)
	$	175,000	3.44%, 04/15/2045	$	182,810
		955,000	3.61%, 11/15/2047		984,538
		895,000	3.67%, 11/15/2044		943,824
		990,000	3.72%, 05/15/2047		1,032,905
		120,000	3.88%, 08/15/2046		126,596
		4,775,000	4.00%, 05/15/2047		5,063,589
		4,375,000	4.05%, 03/15/2047		4,649,102
		755,286	4.10%, 03/15/2047		805,667
		315,000	4.35%, 03/15/2048⁽¹⁾⁽²⁾		289,945
		710,000	5.00%, 06/15/2044⁽¹⁾⁽²⁾		587,648
		815,000	5.00%, 04/15/2045⁽¹⁾⁽²⁾		480,844
		1,045,000	5.59%, 04/15/2045⁽¹⁾⁽²⁾		1,046,496

					176,571,967

			Whole Loan Collateral CMO - 6.5%
			Adjustable Rate Mortgage Trust
		1,243,838	0.84%, 01/25/2036⁽²⁾		1,032,577
		732,913	1.03%, 11/25/2035⁽²⁾		677,488
		1,271,109	1.26%, 01/25/2036⁽²⁾		1,091,698
			Alternative Loan Trust
		2,333,407	0.90%, 11/25/2035⁽²⁾		1,955,056
		319,744	1.03%, 01/25/2036⁽²⁾		263,573
		2,126,942	5.75%, 05/25/2036		1,636,133
			American Home Mortgage Assets Trust
		1,129,453	0.95%, 09/25/2046⁽²⁾		851,497
		1,918,594	1.51%, 10/25/2046⁽²⁾		1,521,812
			Banc of America Funding Trust
		607,185	0.97%, 02/20/2047⁽²⁾		535,031
		4,804,850	1.04%, 05/20/2047⁽²⁾		3,935,605
		5,866,393	5.77%, 05/25/2037⁽²⁾		5,229,275
		240,534	5.85%, 01/25/2037⁽³⁾		203,655
			BCAP LLC Trust
		1,065,314	0.93%, 01/25/2037⁽²⁾		878,107
		2,905,955	0.94%, 03/25/2037⁽²⁾		2,696,742
		775,893	Bear Stearns Adjustable Rate Mortgage Trust 2.83%, 10/25/2035⁽²⁾		747,036
		3,127,155	Bear Stearns Alt-A Trust 1.26%, 01/25/2036⁽²⁾		2,750,713
		1,884,977	Bear Stearns Mortgage Funding Trust 0.94%, 10/25/2036⁽²⁾		1,531,018
			Countrywide Home Loans, Inc.
		768,815	2.99%, 11/20/2035⁽²⁾		643,570
		483,349	3.09%, 03/20/2036⁽²⁾		393,686
		4,509,016	3.13%, 09/25/2047⁽²⁾		4,141,706
		846,519	3.13%, 04/20/2036⁽²⁾		609,691
		2,900,801	Credit Suisse First Boston Mortgage Securities Corp. 5.50%, 06/25/2035		2,693,081
		2,013,341	DSLA Mortgage Loan Trust 1.46%, 03/19/2046⁽²⁾		1,726,869
		4,065,143	Fannie Mae Connecticut Avenue Securities 5.11%, 04/25/2029⁽²⁾		4,180,837
			GMAC Mortgage Corp. Loan Trust
		56,989	3.42%, 04/19/2036⁽²⁾		50,751
		2,719,093	3.42%, 09/19/2035⁽²⁾		2,483,815
		1,616,287	GreenPoint Mortgage Funding Trust 1.94%, 10/25/2045⁽²⁾		1,242,226

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


		150

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 30.0% - (continued)
			Whole Loan Collateral CMO - 6.5% - (continued)
			GSR Mortgage Loan Trust
	$	3,663,421	1.06%, 01/25/2037⁽²⁾	$	2,234,164
		3,836,289	3.29%, 01/25/2036⁽²⁾		3,544,126
			HarborView Mortgage Loan Trust
		2,643,857	0.93%, 01/19/2038⁽²⁾		2,285,911
		7,476,033	0.98%, 12/19/2036⁽²⁾		5,771,104
		1,034,929	1.44%, 01/19/2035⁽²⁾		675,088
			IndyMac Index Mortgage Loan Trust
		3,459,780	1.04%, 07/25/2035⁽²⁾		2,778,733
		2,030,418	1.05%, 01/25/2036⁽²⁾		1,286,037
		2,997,876	1.16%, 07/25/2046⁽²⁾		1,798,541
		3,501,022	3.02%, 03/25/2036⁽²⁾		2,910,235
		1,260,975	3.08%, 08/25/2035⁽²⁾		1,008,881
		1,532,475	3.09%, 01/25/2036⁽²⁾		1,428,707
			JP Morgan Mortgage Trust
		1,232,808	3.10%, 05/25/2036⁽²⁾		1,109,645
		534,396	3.10%, 04/25/2037⁽²⁾		472,031
		1,992,178	3.19%, 09/25/2035⁽²⁾		1,902,391
		1,982,674	Lehman XS Trust 0.97%, 07/25/2046⁽²⁾		1,578,817
			LSTAR Securities Investment Trust
		6,031,763	2.53%, 01/01/2020⁽¹⁾⁽²⁾		6,026,938
		5,151,311	2.62%, 04/01/2020⁽¹⁾⁽²⁾		5,141,652
		7,286,928	2.62%, 10/01/2020⁽¹⁾⁽²⁾		7,208,630
		2,862,095	2.62%, 09/01/2021⁽¹⁾⁽²⁾		2,801,467
		3,756,384	3.62%, 11/01/2021⁽¹⁾⁽²⁾		3,707,833
			Luminent Mortgage Trust
		290,122	0.96%, 10/25/2046⁽²⁾		247,718
		1,232,445	1.02%, 11/25/2035⁽²⁾		1,109,493
			Merrill Lynch Mortgage Investors Trust
		1,030,037	3.08%, 07/25/2035⁽²⁾		792,163
		95,462	3.09%, 12/25/2035⁽²⁾		90,257
		204,721	Morgan Stanley Mortgage Loan Trust 3.12%, 05/25/2036⁽²⁾		142,853
		8,753,000	Mortgage Repurchase Agreement Financing Trust 1.87%, 06/10/2019^(1)(2)(5)		8,753,000
			New Residential Mortgage Loan Trust
		7,199,828	3.75%, 11/26/2035⁽¹⁾⁽²⁾		7,453,132
		6,273,747	3.75%, 11/25/2056⁽¹⁾⁽²⁾		6,488,598
		106,626	Nomura Asset Acceptance Corp. Alternative Loan Trust 3.90%, 06/25/2036⁽²⁾		79,695
		2,097,328	RBSGC Mortgage Pass-Through Certificates 6.25%, 01/25/2037		1,976,773
			Residential Accredit Loans, Inc.
		369,008	0.98%, 02/25/2046⁽²⁾		160,544
		805,656	1.06%, 04/25/2036⁽²⁾		574,009
		4,921,618	1.85%, 11/25/2037⁽²⁾		3,373,538
		1,208,199	6.00%, 12/25/2035		1,118,133
		2,650,915	Residential Asset Securitization Trust 1.21%, 03/25/2035⁽²⁾		2,082,517
		696,288	Sequoia Mortgage Trust 3.10%, 07/20/2037⁽²⁾		576,685
		1,225,837	Structured Adjustable Rate Mortgage Loan Trust 1.06%, 09/25/2034⁽²⁾		949,798
		258,979	TBW Mortgage-Backed Trust 6.00%, 07/25/2036		206,589


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 30.0% - (continued)
			Whole Loan Collateral CMO - 6.5% - (continued)
			Towd Point Mortgage Trust
	$	6,337,562	2.25%, 08/25/2055⁽¹⁾⁽²⁾	$	6,286,587
		1,716,893	2.75%, 02/25/2055⁽¹⁾⁽²⁾		1,713,108
		5,168,717	2.75%, 08/25/2055⁽¹⁾⁽²⁾		5,140,186
		1,379,940	3.00%, 03/25/2054⁽¹⁾⁽²⁾		1,394,439
			WaMu Mortgage Pass-Through Certificates Trust
		1,033,162	1.18%, 06/25/2044⁽²⁾		957,806
		587,566	2.10%, 11/25/2046⁽²⁾		527,514
		1,869,596	2.58%, 06/25/2037⁽²⁾		1,673,098
			Wells Fargo Commercial Mortgage Trust
		46,544,836	1.18%, 09/15/2057⁽²⁾⁽⁴⁾		2,916,146
		3,250,000	2.88%, 05/15/2048⁽¹⁾⁽²⁾		1,621,361
		1,685,000	3.36%, 09/15/2058⁽¹⁾		946,161
		1,015,000	3.84%, 09/15/2058		1,062,373

					161,788,453


			Total Asset & Commercial Mortgage Backed Securities (cost $752,495,570)	$	751,054,884



CORPORATE BONDS - 33.7%
			Advertising - 0.0%
		100,000	Lamar Media Corp. 5.75%, 02/01/2026	$	105,250

			Aerospace/Defense - 0.2%
		690,000	BAE Systems Holdings, Inc. 2.85%, 12/15/2020⁽¹⁾		691,008
		730,000	BAE Systems plc 4.75%, 10/11/2021⁽¹⁾		789,355
		370,000	L-3 Communications Corp. 3.85%, 12/15/2026		367,785
			Lockheed Martin Corp.
		1,385,000	2.50%, 11/23/2020		1,396,703
		1,931,000	4.70%, 05/15/2046		2,100,399

					5,345,250

			Agriculture - 0.5%
			Altria Group, Inc.
		1,320,000	2.85%, 08/09/2022		1,321,617
		945,000	3.88%, 09/16/2046		872,134
		2,515,000	BAT International Finance plc 2.75%, 06/15/2020⁽¹⁾		2,528,453
			Imperial Brands Finance plc
		1,420,000	2.05%, 07/20/2018⁽¹⁾		1,419,679
		3,000,000	2.95%, 07/21/2020⁽¹⁾		3,018,354
		2,640,000	Reynolds American, Inc. 3.25%, 06/12/2020		2,705,113

					11,865,350

			Airlines - 0.0%
		210,000	Aircastle Ltd. 5.00%, 04/01/2023		214,200

			Apparel - 0.1%
		540,000	Hanesbrands, Inc. 4.88%, 05/15/2026⁽¹⁾		527,850
		860,000	William Carter Co. 5.25%, 08/15/2021		891,175

					1,419,025

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


		151

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Auto Manufacturers - 1.5%
	$	4,875,000	Daimler Finance North America LLC 1.65%, 03/02/2018⁽¹⁾	$	4,868,653
		1,280,000	Ford Motor Co. 4.35%, 12/08/2026		1,293,437
			Ford Motor Credit Co. LLC
		7,530,000	1.46%, 03/27/2017		7,531,205
		1,070,000	4.13%, 08/04/2025		1,071,286
		1,295,000	4.25%, 02/03/2017		1,297,550
		1,695,000	4.39%, 01/08/2026		1,717,840
			General Motors Co.
		2,045,000	6.60%, 04/01/2036		2,337,449
		480,000	6.75%, 04/01/2046		562,891
			General Motors Financial Co., Inc.
		2,650,000	2.40%, 04/10/2018		2,652,833
		4,985,000	3.50%, 07/10/2019		5,076,001
		1,950,000	3.70%, 05/09/2023		1,918,775
		3,025,000	4.75%, 08/15/2017		3,082,378
		2,810,000	5.25%, 03/01/2026		2,951,880

					36,362,178

			Auto Parts & Equipment - 0.0%
		245,000	Adient Global Holdings Ltd. 4.88%, 08/15/2026⁽¹⁾		240,100

			Beverages - 1.5%
			Anheuser-Busch InBev Finance, Inc.
		4,320,000	1.90%, 02/01/2019		4,326,199
		850,000	2.15%, 02/01/2019		855,261
		13,640,000	3.30%, 02/01/2023		13,881,864
		610,000	3.65%, 02/01/2026		619,266
		4,245,000	4.70%, 02/01/2036		4,465,180
		6,435,000	4.90%, 02/01/2046		6,955,398
			Anheuser-Busch InBev Worldwide, Inc.
		1,440,000	2.50%, 07/15/2022		1,417,257
		2,220,000	3.75%, 07/15/2042		1,996,652
		1,485,000	Molson Coors Brewing Co. 4.20%, 07/15/2046		1,384,503
		2,650,000	Pernod Ricard S.A. 3.25%, 06/08/2026⁽¹⁾		2,542,752

					38,444,332

			Biotechnology - 0.1%
		1,065,000	Celgene Corp. 4.63%, 05/15/2044		1,042,762
			Gilead Sciences, Inc.
		615,000	2.50%, 09/01/2023		593,057
		1,095,000	3.25%, 09/01/2022		1,117,696

					2,753,515

			Chemicals - 0.1%
			Methanex Corp.
		1,280,000	4.25%, 12/01/2024		1,231,333
		1,170,000	5.65%, 12/01/2044		1,026,421
		95,000	Versum Materials, Inc. 5.50%, 09/30/2024⁽¹⁾		97,138

					2,354,892

			Commercial Banks - 10.8%
	EUR	3,095,000	Allied Irish Banks plc 7.38%, 12/03/2020^(2)(6)(7)		3,212,329
			Banco Bilbao Vizcaya Argentaria S.A.
		3,600,000	7.00%, 02/19/2019^(2)(6)(7)		3,634,322
		600,000	8.88%, 04/14/2021^(2)(6)(7)		679,023


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Commercial Banks - 10.8% - (continued)
			Banco Bilbao Vizcaya Argentaria S.A. - (continued)
	$	4,000,000	9.00%, 05/09/2018^(2)(6)(7)	$	4,163,984
			Banco Santander S.A.
	EUR	2,000,000	6.25%, 03/12/2019^(2)(6)(7)		1,968,456
		1,000,000	6.25%, 09/11/2021^(2)(6)(7)		986,123
			Bank of America Corp.
	$	7,000,000	2.50%, 10/21/2022		6,769,889
		3,670,000	2.63%, 04/19/2021		3,644,817
		3,000,000	4.00%, 01/22/2025		3,003,768
		2,080,000	4.18%, 11/25/2027		2,081,329
		5,570,000	4.20%, 08/26/2024		5,674,181
		735,000	5.00%, 01/21/2044		804,893
		750,000	6.11%, 01/29/2037		879,222
		4,725,000	7.75%, 05/14/2038		6,505,399
	EUR	2,925,000	Bank of Ireland 7.38%, 06/18/2020^(2)(6)(7)		3,133,809
	$	2,415,000	Bank of Nova Scotia 4.50%, 12/16/2025		2,480,898
		5,970,000	Barclays Bank plc 6.05%, 12/04/2017⁽¹⁾		6,167,529
			Barclays plc
		1,450,000	7.88%, 03/15/2022^(2)(6)(7)		1,468,125
	EUR	2,895,000	8.00%, 12/15/2020⁽²⁾⁽⁷⁾		3,213,934
	$	1,940,000	BNP Paribas S.A. 7.63%, 03/30/2021^(1)(2)(7)		2,046,894
		200,000	BPCE S.A. 5.15%, 07/21/2024⁽¹⁾		203,321
			Capital One NA/Mclean VA
		9,410,000	1.65%, 02/05/2018		9,391,726
		2,645,000	2.35%, 08/17/2018		2,660,193
		1,408,000	CIT Group, Inc. 5.50%, 02/15/2019⁽¹⁾		1,485,440
			Citigroup, Inc.
		1,195,000	1.85%, 11/24/2017		1,197,259
		1,025,000	2.50%, 09/26/2018		1,034,804
		2,675,000	2.70%, 03/30/2021		2,668,880
		1,550,000	4.30%, 11/20/2026		1,564,148
		6,495,000	4.45%, 09/29/2027		6,597,920
		2,955,000	4.60%, 03/09/2026		3,054,238
		871,000	4.65%, 07/30/2045		918,076
		2,115,000	4.75%, 05/18/2046		2,117,441
		1,015,000	5.50%, 09/13/2025		1,115,496
		5,650,000	Credit Agricole S.A. 8.13%, 12/23/2025^(1)(2)(7)		5,946,399
		5,760,000	Credit Suisse Group AG 6.25%, 12/18/2024^(1)(2)(7)		5,605,632
		2,475,000	Credit Suisse Group Funding Guernsey Ltd. 3.13%, 12/10/2020		2,467,263
			Goldman Sachs Group, Inc.
		590,000	2.00%, 04/25/2019		587,657
		550,000	2.04%, 04/23/2020⁽²⁾		555,256
		3,835,000	2.35%, 11/15/2021		3,725,933
		1,290,000	2.38%, 01/22/2018		1,297,669
		2,215,000	2.75%, 09/15/2020		2,224,569
		2,720,000	2.88%, 02/25/2021		2,732,577
		1,115,000	4.75%, 10/21/2045		1,177,042
		3,490,000	5.15%, 05/22/2045		3,670,293
		3,687,000	6.00%, 06/15/2020		4,088,666
		2,655,000	6.25%, 02/01/2041		3,291,050
		3,680,000	6.45%, 05/01/2036		4,385,721
		2,720,000	6.75%, 10/01/2037		3,358,784

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


		152

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Commercial Banks - 10.8% - (continued)
			HSBC Holdings plc
	$	1,305,000	2.95%, 05/25/2021	$	1,304,505
		4,335,000	3.40%, 03/08/2021		4,408,171
		1,335,000	3.60%, 05/25/2023		1,342,740
		4,820,000	4.25%, 08/18/2025		4,864,093
		1,800,000	5.25%, 03/14/2044		1,927,557
		1,350,000	HSBC USA, Inc. 2.75%, 08/07/2020		1,352,680
		4,225,000	Intesa Sanpaolo S.p.A. 7.70%, 09/17/2025^(1)(2)(7)		3,966,219
			JP Morgan Chase & Co.
		955,000	2.11%, 10/24/2023⁽²⁾		974,070
		1,840,000	2.30%, 08/15/2021		1,805,912
		7,865,000	2.40%, 06/07/2021		7,792,752
		1,055,000	2.55%, 10/29/2020		1,054,221
		3,620,000	2.70%, 05/18/2023		3,541,768
		2,875,000	4.25%, 10/01/2027		2,953,856
		3,820,000	4.35%, 08/15/2021		4,086,617
		55,000	5.60%, 07/15/2041		65,769
	GBP	895,000	Lloyds Banking Group plc 7.00%, 06/27/2019^(2)(6)(7)		1,115,418
			Morgan Stanley
	$	6,760,000	2.50%, 04/21/2021		6,686,505
		5,085,000	3.13%, 07/27/2026		4,858,087
		2,980,000	3.95%, 04/23/2027		2,949,929
		3,275,000	4.00%, 07/23/2025		3,356,931
		1,400,000	4.35%, 09/08/2026		1,434,647
		5,925,000	5.55%, 04/27/2017		6,003,417
		2,675,000	6.25%, 08/28/2017		2,756,210
		1,600,000	7.30%, 05/13/2019		1,782,845
		2,215,000	PNC Bank NA 1.45%, 07/29/2019		2,184,865
		510,000	Radian Group, Inc. 7.00%, 03/15/2021		567,375
			Royal Bank of Scotland Group plc
		6,680,000	3.88%, 09/12/2023		6,414,510
		650,000	6.13%, 12/15/2022		691,166
		3,570,000	7.50%, 08/10/2020⁽²⁾⁽⁷⁾		3,382,575
		1,160,000	8.63%, 08/15/2021⁽²⁾⁽⁷⁾		1,183,200
		4,400,000	Santander Issuances SAU 5.18%, 11/19/2025		4,441,373
	GBP	475,000	Santander UK Group Holdings plc 7.38%, 06/24/2022^(2)(6)(7)		585,420
			Societe Generale S.A.
	$	3,275,000	7.38%, 09/13/2021^(1)(2)(7)		3,269,498
		4,535,000	8.25%, 11/29/2018^(2)(6)(7)		4,716,672
			UBS Group AG
		3,950,000	6.88%, 03/22/2021^(2)(6)(7)		4,019,125
		3,145,000	7.13%, 02/19/2020^(2)(6)(7)		3,234,236
		3,350,000	UBS Group Funding Jersey Ltd. 2.65%, 02/01/2022⁽¹⁾		3,255,848
			Wells Fargo & Co.
		1,655,000	3.00%, 04/22/2026		1,579,254
		1,200,000	3.00%, 10/23/2026		1,142,876
		3,340,000	4.40%, 06/14/2046		3,196,560
		3,285,000	4.90%, 11/17/2045		3,374,093
		74,000	5.38%, 11/02/2043		81,670
		4,760,000	5.61%, 01/15/2044		5,393,275


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Commercial Banks - 10.8% - (continued)
	$	4,875,000	Wells Fargo Bank NA 2.15%, 12/06/2019	$	4,871,978

					271,612,865

			Commercial Services - 0.2%
		670,000	Cardtronics, Inc. 5.13%, 08/01/2022		675,025
		2,915,000	ERAC USA Finance LLC 2.60%, 12/01/2021⁽¹⁾		2,868,692
			United Rentals North America, Inc.
		470,000	4.63%, 07/15/2023		479,400
		400,000	5.50%, 07/15/2025		408,000

					4,431,117

			Construction Materials - 0.2%
		190,000	Boise Cascade Co. 5.63%, 09/01/2024⁽¹⁾		188,575
		3,000,000	CRH America, Inc. 5.13%, 05/18/2045⁽¹⁾		3,124,086
		395,000	Eagle Materials, Inc. 4.50%, 08/01/2026		394,013
		660,000	Norbord, Inc. 6.25%, 04/15/2023⁽¹⁾		683,100
			Standard Industries, Inc.
		815,000	5.38%, 11/15/2024⁽¹⁾		837,412
		930,000	6.00%, 10/15/2025⁽¹⁾		978,825

					6,206,011

			Diversified Financial Services - 0.7%
		255,000	Aircastle Ltd. 5.50%, 02/15/2022		270,300
		3,217,000	Bear Stearns Cos LLC 5.55%, 01/22/2017		3,223,296
		2,285,000	Intercontinental Exchange, Inc. 2.75%, 12/01/2020		2,309,728
		580,000	Nasdaq, Inc. 3.85%, 06/30/2026		576,173
			Navient Corp.
		680,000	5.50%, 01/15/2019		705,500
		1,005,000	7.25%, 01/25/2022		1,064,044
		3,925,000	Synchrony Financial 2.60%, 01/15/2019		3,944,853
			Visa, Inc.
		1,825,000	2.80%, 12/14/2022		1,835,225
		2,980,000	4.30%, 12/14/2045		3,145,432

					17,074,551

			Electric - 1.1%
			AES Corp.
		1,360,000	4.88%, 05/15/2023		1,343,272
		460,000	5.50%, 03/15/2024		468,050
		1,770,000	Dominion Resources, Inc. 2.85%, 08/15/2026		1,657,129
		1,605,000	DTE Energy Co. 1.50%, 10/01/2019		1,578,322
		1,525,000	Duke Energy Carolinas LLC 4.25%, 12/15/2041		1,560,063
		705,000	Duke Energy Corp. 2.65%, 09/01/2026		657,996

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


		153

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Electric - 1.1% - (continued)
	$	2,230,000	Duke Energy Florida LLC 3.40%, 10/01/2046	$	1,984,198
		1,880,000	Duke Energy Progress LLC 4.38%, 03/30/2044		1,948,114
		2,400,000	Electricite de France S.A. 4.95%, 10/13/2045⁽¹⁾		2,428,267
			Emera US Finance L.P.
		435,000	2.70%, 06/15/2021⁽¹⁾		430,582
		475,000	4.75%, 06/15/2046⁽¹⁾		479,011
		3,070,000	Exelon Corp. 2.85%, 06/15/2020		3,102,772
		2,470,000	FirstEnergy Corp. 4.25%, 03/15/2023		2,553,474
			Fortis, Inc.
		800,000	2.10%, 10/04/2021⁽¹⁾		773,212
		1,710,000	3.06%, 10/04/2026⁽¹⁾		1,599,324
		1,005,000	NextEra Energy Capital Holdings, Inc. 1.65%, 09/01/2018		1,001,845
		700,000	NRG Energy, Inc. 7.25%, 05/15/2026⁽¹⁾		696,500
		690,000	Oncor Electric Delivery Co. LLC 7.00%, 09/01/2022		842,193
			Southern Co.
		1,625,000	1.85%, 07/01/2019		1,619,969
		665,000	2.95%, 07/01/2023		656,415
		805,000	4.40%, 07/01/2046		796,237

					28,176,945

			Electrical Components & Equipment - 0.0%
		685,000	EnerSys 5.00%, 04/30/2023⁽¹⁾		688,425

			Electronics - 0.1%
		1,555,000	Fortive Corp. 2.35%, 06/15/2021⁽¹⁾		1,534,205

			Engineering & Construction - 0.5%
			SBA Tower Trust
		5,620,000	2.93%, 12/09/2042⁽¹⁾		5,625,826
		7,645,000	3.60%, 04/15/2043⁽¹⁾		7,673,206

					13,299,032

			Entertainment - 0.1%
			GLP Capital L.P. / GLP Financing II, Inc.
		20,000	4.38%, 04/15/2021		20,750
		335,000	5.38%, 04/15/2026		349,372
			WMG Acquisition Corp.
		760,000	4.88%, 11/01/2024⁽¹⁾		756,200
		260,000	5.00%, 08/01/2023⁽¹⁾		261,300

					1,387,622

			Environmental Control - 0.0%
			Clean Harbors, Inc.
		345,000	5.13%, 06/01/2021		352,832
		820,000	5.25%, 08/01/2020		839,475

					1,192,307

			Food - 0.6%
		3,800,000	Danone S.A. 1.69%, 10/30/2019⁽¹⁾		3,752,424
			Kraft Heinz Foods Co.
		2,050,000	2.00%, 07/02/2018		2,050,461


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Food - 0.6% - (continued)
			Kraft Heinz Foods Co. - (continued)
	$	855,000	2.80%, 07/02/2020	$	863,124
		615,000	4.38%, 06/01/2046		578,702
			Kroger Co.
		940,000	1.50%, 09/30/2019		925,716
		1,325,000	2.65%, 10/15/2026		1,231,001
		160,000	3.88%, 10/15/2046		145,659
			Lamb Weston Holdings, Inc.
		345,000	4.63%, 11/01/2024⁽¹⁾		345,863
		345,000	4.88%, 11/01/2026⁽¹⁾		341,334
		2,285,000	Sigma Alimentos S.A. de CV 4.13%, 05/02/2026⁽¹⁾		2,170,750
		2,320,000	Sysco Corp. 2.50%, 07/15/2021		2,295,241

					14,700,275

			Forest Products & Paper - 0.1%
		500,000	Cascades, Inc. 5.75%, 07/15/2023⁽¹⁾		507,500
		1,415,000	Clearwater Paper Corp. 5.38%, 02/01/2025⁽¹⁾		1,400,850

					1,908,350

			Gas - 0.1%
			AmeriGas Partners L.P. / AmeriGas Finance Corp.
		375,000	5.63%, 05/20/2024		383,437
		375,000	5.88%, 08/20/2026		380,625
		505,000	Southern Co. Gas Capital Corp. 2.45%, 10/01/2023		484,343
		160,000	Southern Star Central Corp. 5.13%, 07/15/2022⁽¹⁾		162,000

					1,410,405

			Healthcare-Products - 0.4%
		640,000	Kinetic Concepts, Inc. / KCI USA, Inc. 7.88%, 02/15/2021⁽¹⁾		694,400
			Medtronic, Inc.
		2,138,000	4.38%, 03/15/2035		2,261,850
		645,000	4.63%, 03/15/2045		697,517
			Thermo Fisher Scientific, Inc.
		410,000	2.95%, 09/19/2026		387,142
		2,430,000	3.00%, 04/15/2023		2,388,367
		3,900,000	Zimmer Biomet Holdings, Inc. 1.45%, 04/01/2017		3,900,940

					10,330,216

			Healthcare-Services - 0.8%
			Aetna, Inc.
		925,000	2.80%, 06/15/2023		911,133
		425,000	4.25%, 06/15/2036		426,124
			Anthem, Inc.
		4,120,000	3.50%, 08/15/2024		4,108,303
		720,000	4.63%, 05/15/2042		723,434
		645,000	Community Health Systems, Inc. 5.13%, 08/01/2021		598,238
		1,040,000	HCA, Inc. 7.50%, 02/15/2022		1,180,400
		900,000	LifePoint Health, Inc. 5.88%, 12/01/2023		911,250
		220,000	MEDNAX, Inc. 5.25%, 12/01/2023⁽¹⁾		226,600
		1,725,000	Tenet Healthcare Corp. 6.00%, 10/01/2020		1,806,937

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


		154

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Healthcare-Services - 0.8% - (continued)
			UnitedHealth Group, Inc.
	$	2,880,000	1.70%, 02/15/2019	$	2,871,343
		2,250,000	3.35%, 07/15/2022		2,318,188
		2,255,000	3.75%, 07/15/2025		2,334,453
		670,000	4.75%, 07/15/2045		738,084

					19,154,487

			Home Builders - 0.0%
		655,000	Meritage Homes Corp. 6.00%, 06/01/2025		663,187
		65,000	Toll Brothers Finance Corp. 4.88%, 11/15/2025		63,863

					727,050

			Household Products/Wares - 0.0%
		95,000	ACCO Brands Corp. 5.25%, 12/15/2024⁽¹⁾		95,654

			Insurance - 0.3%
		1,335,000	American International Group, Inc. 4.70%, 07/10/2035		1,383,622
			CNO Financial Group, Inc.
		55,000	4.50%, 05/30/2020		56,375
		440,000	5.25%, 05/30/2025		439,450
		1,830,000	Marsh & McLennan Cos., Inc. 3.50%, 03/10/2025		1,842,466
		2,133,000	Massachusetts Mutual Life Insurance Co. 8.88%, 06/01/2039⁽¹⁾		3,201,972
		255,000	MGIC Investment Corp. 5.75%, 08/15/2023		265,838

					7,189,723

			Internet - 0.0%
		365,000	Netflix, Inc. 4.38%, 11/15/2026⁽¹⁾		354,050

			Iron/Steel - 0.0%
			ArcelorMittal
		380,000	5.13%, 06/01/2020		398,050
		320,000	6.13%, 06/01/2025		350,400
		255,000	Steel Dynamics, Inc. 5.50%, 10/01/2024		270,300

					1,018,750

			IT Services - 0.2%
			Apple, Inc.
		2,825,000	3.45%, 02/09/2045		2,493,480
		515,000	3.85%, 08/04/2046		493,443
			Diamond 1 Finance Corp. / Diamond 2 Finance Corp.
		1,335,000	3.48%, 06/01/2019⁽¹⁾		1,362,776
		1,060,000	4.42%, 06/15/2021⁽¹⁾		1,096,830
		650,000	8.35%, 07/15/2046⁽¹⁾		800,337

					6,246,866

			Lodging - 0.0%
		880,000	Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. 5.38%, 03/15/2022		902,000

			Machinery-Construction & Mining - 0.0%
		525,000	Oshkosh Corp. 5.38%, 03/01/2025		535,500


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Machinery-Diversified - 0.0%
	$	300,000	CNH Industrial N.V. 4.50%, 08/15/2023	$	296,250

			Media - 2.5%
			21st Century Fox America, Inc.
		1,450,000	3.38%, 11/15/2026⁽¹⁾		1,421,403
		270,000	4.75%, 11/15/2046⁽¹⁾		270,806
		2,775,000	6.15%, 03/01/2037		3,247,483
		1,175,000	6.20%, 12/15/2034		1,380,367
		705,000	Altice US Finance I Corp. 5.50%, 05/15/2026⁽¹⁾		719,100
		815,000	CBS Corp. 4.00%, 01/15/2026		828,891
			CCO Holdings LLC / CCO Holdings Capital Corp.
		80,000	5.13%, 02/15/2023		82,200
		385,000	5.75%, 09/01/2023		402,325
		145,000	5.75%, 02/15/2026⁽¹⁾		150,075
			Charter Communications Operating LLC / Charter Communications
		1,405,000	3.58%, 07/23/2020		1,433,430
		4,125,000	4.46%, 07/23/2022		4,310,753
		4,040,000	4.91%, 07/23/2025		4,257,877
		7,030,000	6.48%, 10/23/2045		8,127,235
		475,000	Columbus Cable Barbados Ltd. 7.38%, 03/30/2021⁽¹⁾		505,467
			Comcast Corp.
		321,000	1.63%, 01/15/2022		307,684
		5,770,000	2.75%, 03/01/2023		5,728,750
		2,405,000	3.40%, 07/15/2046		2,100,315
		490,000	4.75%, 03/01/2044		525,537
			Cox Communications, Inc.
		415,000	3.25%, 12/15/2022⁽¹⁾		404,245
		500,000	3.35%, 09/15/2026⁽¹⁾		477,469
		1,985,000	3.85%, 02/01/2025⁽¹⁾		1,946,789
		690,000	CSC Holdings LLC 5.50%, 04/15/2027⁽¹⁾		698,625
		860,000	DISH DBS Corp. 5.88%, 11/15/2024		884,940
		1,905,000	Grupo Televisa S.A.B. 6.13%, 01/31/2046		1,890,495
		1,720,000	Liberty Interactive LLC 8.25%, 02/01/2030		1,831,800
		1,715,000	NBC Universal Media LLC 5.95%, 04/01/2041		2,113,034
		340,000	SFR Group S.A. 7.38%, 05/01/2026⁽¹⁾		348,500
		1,670,000	Sky plc 3.13%, 11/26/2022⁽¹⁾		1,656,431
			TEGNA, Inc.
		1,430,000	5.13%, 10/15/2019		1,467,538
		320,000	5.13%, 07/15/2020		332,000
		1,350,000	Time Warner Cable, Inc. 8.75%, 02/14/2019		1,521,374
		6,040,000	Time Warner Entertainment Co. L.P. 8.38%, 07/15/2033		7,913,674
		2,725,000	Time Warner, Inc. 6.10%, 07/15/2040		3,110,672
		345,000	Viacom, Inc. 3.45%, 10/04/2026		318,849

					62,716,133

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


		155

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Mining - 0.1%
			Anglo American Capital plc
	$	350,000	4.13%, 04/15/2021⁽¹⁾	$	356,125
		310,000	4.13%, 09/27/2022⁽¹⁾		312,328
		200,000	4.88%, 05/14/2025⁽¹⁾		202,750
			Freeport-McMoRan, Inc.
		95,000	3.88%, 03/15/2023		87,163
		130,000	4.55%, 11/14/2024		121,875
		320,000	5.40%, 11/14/2034		268,800
		300,000	5.45%, 03/15/2043		248,256
		485,000	Kaiser Aluminum Corp. 5.88%, 05/15/2024		501,975
		900,000	Rio Tinto Finance USA Ltd. 3.75%, 06/15/2025		926,826
		555,000	Teck Resources Ltd. 8.50%, 06/01/2024⁽¹⁾		639,637

					3,665,735

			Oil & Gas - 2.9%
			Anadarko Petroleum Corp.
		1,935,000	3.45%, 07/15/2024		1,899,483
		1,250,000	4.50%, 07/15/2044		1,174,439
		2,100,000	4.85%, 03/15/2021		2,251,700
		30,000	5.55%, 03/15/2026		33,578
		2,205,000	6.60%, 03/15/2046		2,719,557
		410,000	6.95%, 06/15/2019		454,874
		255,000	Antero Resources Corp. 5.63%, 06/01/2023		261,056
			BP Capital Markets plc
		2,425,000	2.11%, 09/16/2021		2,379,289
		2,665,000	2.75%, 05/10/2023		2,616,358
			Cenovus Energy, Inc.
		4,672,000	3.00%, 08/15/2022		4,516,782
		585,000	3.80%, 09/15/2023		570,979
		1,270,000	5.20%, 09/15/2043		1,209,676
		765,000	Concho Resources, Inc. 5.50%, 04/01/2023		792,770
		3,195,000	ConocoPhillips Co. 4.95%, 03/15/2026		3,527,286
			Continental Resources, Inc.
		35,000	3.80%, 06/01/2024		32,288
		395,000	4.50%, 04/15/2023		387,100
		80,000	4.90%, 06/01/2044		68,400
		260,000	5.00%, 09/15/2022		262,441
		4,645,000	Devon Energy Corp. 3.25%, 05/15/2022		4,615,528
		540,000	Devon Financing Corp. LLC 7.88%, 09/30/2031		685,176
		60,000	Diamondback Energy, Inc. 4.75%, 11/01/2024⁽¹⁾		58,800
		1,335,000	EnCana Corp. 3.90%, 11/15/2021		1,344,585
		1,145,000	EOG Resources, Inc. 4.15%, 01/15/2026		1,198,237
			Hess Corp.
		1,845,000	4.30%, 04/01/2027		1,836,554
		1,245,000	5.60%, 02/15/2041		1,258,868
		1,590,000	5.80%, 04/01/2047		1,650,134
		1,370,000	6.00%, 01/15/2040		1,413,271
		2,425,000	Kerr-McGee Corp. 6.95%, 07/01/2024		2,860,998


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Oil & Gas - 2.9% - (continued)
			Marathon Oil Corp.
	$	1,005,000	2.70%, 06/01/2020	$	1,006,338
		2,005,000	2.80%, 11/01/2022		1,917,303
		525,000	3.85%, 06/01/2025		509,109
		145,000	5.20%, 06/01/2045		136,670
		115,000	6.60%, 10/01/2037		125,675
		95,000	6.80%, 03/15/2032		105,802
			Petroleos Mexicanos
		1,800,000	5.50%, 02/04/2019⁽¹⁾		1,864,602
		955,000	6.38%, 02/04/2021⁽¹⁾		1,017,075
		390,000	6.50%, 03/13/2027⁽¹⁾		402,285
		2,730,000	6.63%, 06/15/2035		2,689,050
		646,000	6.75%, 09/21/2047⁽¹⁾		610,341
			Pioneer Natural Resources Co.
		795,000	3.45%, 01/15/2021		812,399
		655,000	3.95%, 07/15/2022		679,582
		2,260,000	4.45%, 01/15/2026		2,394,612
		660,000	6.65%, 03/15/2017		666,733
		2,090,000	7.50%, 01/15/2020		2,375,851
			QEP Resources, Inc.
		10,000	5.25%, 05/01/2023		10,025
		45,000	5.38%, 10/01/2022		45,113
		55,000	6.80%, 03/01/2020		57,200
			Shell International Finance B.V.
		1,185,000	2.50%, 09/12/2026		1,111,843
		2,440,000	3.25%, 05/11/2025		2,437,999
		2,295,000	4.38%, 05/11/2045		2,324,782
		255,000	SM Energy Co. 6.13%, 11/15/2022		258,188
			Statoil ASA
		15,000	3.70%, 03/01/2024		15,700
		2,555,000	3.95%, 05/15/2043		2,437,048
		250,000	Tesoro Corp. 5.13%, 04/01/2024		255,625
			Valero Energy Corp.
		3,150,000	3.40%, 09/15/2026		3,017,744
		435,000	4.90%, 03/15/2045		433,496
		190,000	WPX Energy, Inc. 5.25%, 09/15/2024		184,300

					71,982,697

			Packaging & Containers - 0.1%
		285,000	Crown Americas LLC / Crown Americas Capital Corp. 4.25%, 09/30/2026⁽¹⁾		268,613
		505,000	Owens-Brockway Glass Container, Inc. 5.88%, 08/15/2023⁽¹⁾		526,462
		870,000	Reynolds Group Issuer, Inc. 5.13%, 07/15/2023⁽¹⁾		888,487

					1,683,562

			Pharmaceuticals - 1.3%
		1,335,000	AbbVie, Inc. 3.20%, 05/14/2026		1,270,155
			Actavis Funding SCS
		6,815,000	2.35%, 03/12/2018		6,854,397
		5,755,000	3.00%, 03/12/2020		5,834,782
		316,000	Baxalta, Inc. 3.60%, 06/23/2022		318,418
		3,155,000	EMD Finance LLC 2.95%, 03/19/2022⁽¹⁾		3,141,620

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


		156

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Pharmaceuticals - 1.3% - (continued)
			Mylan N.V.
	$	1,485,000	3.00%, 12/15/2018⁽¹⁾	$	1,495,740
		1,375,000	3.15%, 06/15/2021⁽¹⁾		1,349,407
		1,705,000	3.75%, 12/15/2020⁽¹⁾		1,721,673
		395,000	Quintiles IMS, Inc. 4.88%, 05/15/2023⁽¹⁾		400,925
		2,440,000	Shire Acquisitions Investments Ireland DAC 2.40%, 09/23/2021		2,357,008
			Teva Pharmaceutical Finance Netherlands III B.V.
		4,560,000	1.70%, 07/19/2019		4,480,328
		3,680,000	2.20%, 07/21/2021		3,520,608

					32,745,061

			Pipelines - 1.6%
			DCP Midstream Operating L.P.
		200,000	2.70%, 04/01/2019		197,500
		100,000	3.88%, 03/15/2023		96,188
		326,000	4.95%, 04/01/2022		334,150
		215,000	5.60%, 04/01/2044		196,187
		1,612,000	Energy Transfer Equity L.P. 7.50%, 10/15/2020		1,797,380
			Energy Transfer Partners L.P.
		50,000	3.60%, 02/01/2023		49,175
		455,000	4.05%, 03/15/2025		450,408
		6,810,000	5.95%, 10/01/2043		7,018,570
		1,295,000	Enterprise Products Operating LLC 3.95%, 02/15/2027		1,326,589
			Kinder Morgan Energy Partners L.P.
		750,000	5.30%, 09/15/2020		805,595
		260,000	6.50%, 04/01/2020		287,789
		515,000	6.85%, 02/15/2020		574,106
		2,885,000	Kinder Morgan, Inc. 5.05%, 02/15/2046		2,855,876
		795,000	Magellan Midstream Partners L.P. 5.00%, 03/01/2026		871,771
		595,000	Phillips 66 Partners L.P. 3.55%, 10/01/2026		575,824
			Plains All American Pipeline L.P. / PAA Finance Corp.
		2,490,000	2.85%, 01/31/2023		2,353,899
		2,450,000	3.65%, 06/01/2022		2,463,522
		1,430,000	4.50%, 12/15/2026		1,450,658
			Regency Energy Partners L.P.
		1,435,000	4.50%, 11/01/2023		1,456,130
		315,000	5.88%, 03/01/2022		346,518
			Sunoco Logistics Partners Operations L.P.
		125,000	3.90%, 07/15/2026		120,992
		1,550,000	4.25%, 04/01/2024		1,561,978
		565,000	Tesoro Logistics L.P. / Tesoro Logistics Finance Corp. 6.25%, 10/15/2022		598,900
		2,235,000	Texas Eastern Transmission L.P. 2.80%, 10/15/2022⁽¹⁾		2,175,453
			Williams Cos., Inc.
		385,000	3.70%, 01/15/2023		371,525
		70,000	4.55%, 06/24/2024		69,475
		135,000	7.88%, 09/01/2021		154,238
			Williams Partners L.P.
		4,900,000	3.60%, 03/15/2022		4,925,926
		1,125,000	4.00%, 11/15/2021		1,154,628
		1,140,000	4.30%, 03/04/2024		1,151,185


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Pipelines - 1.6% - (continued)
			Williams Partners L.P. - (continued)
	$	1,440,000	5.25%, 03/15/2020	$	1,538,523

					39,330,658

			Real Estate - 0.1%
		3,090,000	ProLogis L.P. 3.35%, 02/01/2021		3,179,743

			Real Estate Investment Trusts - 0.6%
			American Tower Corp.
		3,065,000	3.40%, 02/15/2019		3,132,274
		415,000	3.45%, 09/15/2021		420,369
		700,000	4.50%, 01/15/2018		718,475
		2,065,000	Brandywine Operating Partnership L.P. 3.95%, 02/15/2023		2,057,004
		380,000	CoreCivic, Inc. 4.13%, 04/01/2020		379,050
			Crown Castle International Corp.
		340,000	3.40%, 02/15/2021		345,015
		1,305,000	3.70%, 06/15/2026		1,280,898
		710,000	HCP, Inc. 4.25%, 11/15/2023		729,091
		3,490,000	Kimco Realty Corp. 3.13%, 06/01/2023		3,455,257
		1,275,000	Ventas Realty L.P. / Ventas Capital Corp. 3.25%, 08/15/2022		1,287,057

					13,804,490

			Retail - 0.8%
		755,000	AutoZone, Inc. 1.63%, 04/21/2019		748,108
			CVS Health Corp.
		725,000	2.13%, 06/01/2021		710,894
		4,230,000	2.80%, 07/20/2020		4,291,779
		883,000	3.88%, 07/20/2025		910,903
		3,360,000	5.13%, 07/20/2045		3,744,542
		2,115,000	Home Depot, Inc. 3.50%, 09/15/2056		1,851,363
		575,000	KFC Holding Co. / Pizza Hut Holdings LLC 5.25%, 06/01/2026⁽¹⁾		583,625
			Lowe’s Cos., Inc.
		3,725,000	2.50%, 04/15/2026		3,537,499
		2,870,000	3.70%, 04/15/2046		2,678,990
		1,035,000	Walgreens Boots Alliance, Inc. 2.60%, 06/01/2021		1,028,501

					20,086,204

			Savings & Loans - 0.1%
	GBP	1,535,000	Nationwide Building Society 6.88%, 06/20/2019^(2)(6)(7)		1,897,783

			Semiconductors - 0.2%
	$	1,225,000	Intel Corp. 4.10%, 05/19/2046		1,214,192
		2,175,000	Lam Research Corp. 2.80%, 06/15/2021		2,163,285
		525,000	Sensata Technologies B.V. 5.00%, 10/01/2025⁽¹⁾		514,500
		310,000	Sensata Technologies UK Financing Co. plc 6.25%, 02/15/2026⁽¹⁾		323,950

					4,215,927

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


		157

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Shipbuilding - 0.0%
	$	145,000	Huntington Ingalls Industries, Inc. 5.00%, 11/15/2025⁽¹⁾	$	150,619

			Software - 0.6%
		100,000	First Data Corp. 5.00%, 01/15/2024⁽¹⁾		100,532
		1,055,000	5.38%, 08/15/2023⁽¹⁾		1,094,563
		3,450,000	Microsoft Corp. 1.55%, 08/08/2021		3,346,196
		1,340,000	2.40%, 08/08/2026		1,265,894
		2,025,000	3.70%, 08/08/2046		1,906,467
		1,795,000	3.95%, 08/08/2056		1,695,345
		385,000	MSCI, Inc. 5.25%, 11/15/2024⁽¹⁾		404,250
		465,000	5.75%, 08/15/2025⁽¹⁾		494,063
		350,000	Open Text Corp. 5.63%, 01/15/2023⁽¹⁾		365,750
		30,000	5.88%, 06/01/2026⁽¹⁾		31,650
		4,525,000	Oracle Corp. 1.90%, 09/15/2021		4,421,798

					15,126,508

			Telecommunications - 2.0%
		345,000	Altice Financing S.A. 6.63%, 02/15/2023⁽¹⁾		354,488
		2,685,000	AT&T, Inc. 3.60%, 02/17/2023		2,707,876
		1,985,000	3.80%, 03/15/2022		2,034,901
		350,000	4.13%, 02/17/2026		354,398
		1,245,000	4.50%, 05/15/2035		1,202,877
		5,365,000	4.75%, 05/15/2046		5,082,903
		205,000	5.80%, 02/15/2019		220,422
		4,000,000	Cisco Systems, Inc. 1.40%, 09/20/2019		3,956,380
		2,465,000	2.20%, 02/28/2021		2,459,688
		610,000	CommScope, Inc. 4.38%, 06/15/2020⁽¹⁾		623,725
		370,000	Frontier Communications Corp. 10.50%, 09/15/2022		388,981
		7,400,000	GTP Acquisition Partners I LLC 3.48%, 06/15/2050⁽¹⁾		7,188,656
		745,000	Nokia Oyj 6.63%, 05/15/2039		785,975
		1,645,000	Sprint Communications, Inc. 7.00%, 03/01/2020⁽¹⁾		1,784,825
		6,440,000	Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC 3.36%, 03/20/2023⁽¹⁾		6,452,043
		730,000	T-Mobile USA, Inc. 6.46%, 04/28/2019		742,775
		265,000	Telecom Italia Capital S.A. 6.00%, 09/30/2034		245,125
		90,000	6.38%, 11/15/2033		85,950
		310,000	7.72%, 06/04/2038		322,292
		6,123,000	Verizon Communications, Inc. 4.27%, 01/15/2036		5,860,482
		3,185,000	4.40%, 11/01/2034		3,143,550
		4,339,000	4.67%, 03/15/2055		4,074,798
		675,000	Wind Acquisition Finance S.A. 4.75%, 07/15/2020⁽¹⁾		680,062

					50,753,172


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 33.7% - (continued)
			Transportation - 0.6%
	$	1,180,000	Canadian Pacific Railway Co. 9.45%, 08/01/2021	$	1,481,042
		1,705,000	FedEx Corp. 4.55%, 04/01/2046		1,718,144
		615,000	4.75%, 11/15/2045		636,939
		2,100,000	Norfolk Southern Corp. 2.90%, 06/15/2026		2,020,826
			Penske Truck Leasing Co. L.P. / PTL Finance Corp.
		4,370,000	2.88%, 07/17/2018⁽¹⁾		4,426,403
		630,000	3.30%, 04/01/2021⁽¹⁾		637,080
		265,000	3.38%, 02/01/2022⁽¹⁾		267,242
		1,490,000	4.88%, 07/11/2022⁽¹⁾		1,598,935
		1,435,000	Ryder System, Inc. 2.55%, 06/01/2019		1,445,800

					14,232,411


			Total Corporate Bonds (cost $840,772,553)	$	845,147,451

FOREIGN GOVERNMENT OBLIGATIONS - 4.1%
			Argentina - 0.2%
	EUR	7,040,187	Argentine Republic Government International Bond 2.26%, 12/31/2038⁽³⁾	$	4,124,141

			Brazil - 0.8%
			Brazil Notas do Tesouro Nacional
	BRL	47,454,027	6.00%, 05/15/2017⁽⁸⁾		14,569,069
		8,780,000	10.00%, 01/01/2023		2,534,694
			Brazilian Government International Bond
	$	2,820,000	5.00%, 01/27/2045		2,287,584
		1,180,000	5.63%, 01/07/2041		1,049,846

					20,441,193

			Colombia - 0.3%
		5,160,000	Colombia Government International Bond 5.00%, 06/15/2045		4,895,550
	COP	11,225,495,190	Colombian TES 4.25%, 05/17/2017⁽⁸⁾		3,791,764

					8,687,314

			Japan - 0.9%
	JPY	2,750,000,000	Japan Treasury Discount Bill 0.21%, 01/11/2017⁽⁹⁾		23,531,477

			Mexico - 0.3%
	MXN	95,973,400	Mexican Bonos 5.00%, 12/11/2019		4,392,846
	$	3,254,000	Mexico Government International Bond 5.75%, 10/12/2110		3,001,815

					7,394,661

			Qatar - 0.1%
		1,480,000	Qatar Government International Bond 4.63%, 06/02/2046⁽¹⁾		1,478,141

			Romania - 0.6%
			Romania Treasury Bills
	RON	7,860,000	0.55%, 08/28/2017		1,812,675
		13,005,000	0.56%, 08/28/2017		2,999,215
		42,615,000	0.58%, 06/26/2017		9,841,024

					14,652,914

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


		158

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
FOREIGN GOVERNMENT OBLIGATIONS - 4.1% - (continued)
			Russia - 0.2%
	RUB	314,597,000	Russian Federal Bond 11.70%, 01/29/2020⁽²⁾	$	5,291,148

			Saudi Arabia - 0.1%
			Saudi Government International Bond
	$	2,335,000	2.38%, 10/26/2021⁽¹⁾		2,267,135
		1,745,000	4.50%, 10/26/2046⁽¹⁾		1,671,417

					3,938,552

			Thailand - 0.3%
	THB	232,840,000	Bank of Thailand 1.49%, 02/23/2018		6,487,166

			Turkey - 0.1%
	$	3,309,000	Turkey Government International Bond 6.00%, 01/14/2041		3,061,619

			Uruguay - 0.2%
		5,220,000	Uruguay Government International Bond 5.10%, 06/18/2050		4,698,000


			Total Foreign Government Obligations (cost $108,802,578)	$	103,786,326

MUNICIPAL BONDS - 1.3%
			Development - 0.1%
			State of California
	$	860,000	7.60%, 11/01/2040	$	1,295,401
		175,000	7.63%, 03/01/2040		258,916

					1,554,317

			General - 0.5%
		4,560,000	Chicago Transit Auth 6.90%, 12/01/2040		5,709,807
			Puerto Rico Commonwealth Government Employees Retirement System
		4,575,000	6.15%, 07/01/2038		1,818,562
		2,075,000	6.20%, 07/01/2039		824,813
		7,965,000	6.30%, 07/01/2043		3,166,087
		1,995,000	6.55%, 07/01/2058		793,013

					12,312,282

			General Obligation - 0.4%
		6,650,000	California State, GO Taxable 7.55%, 04/01/2039		9,839,673
		970,000	Illinois State, GO 5.10%, 06/01/2033		857,305

					10,696,978

			Higher Education - 0.2%
		5,580,000	University of California 4.60%, 05/15/2031		6,153,010

			Utility-Electric - 0.1%
		1,485,000	Municipal Electric Auth. Georgia 6.64%, 04/01/2057		1,841,712


			Total Municipal Bonds (cost $33,111,758)	$	32,558,299

SENIOR FLOATING RATE INTERESTS - 5.1%⁽¹⁰⁾
			Advertising - 0.0%
	$	866,627	Acosta Holdco, Inc. 4.25%, 09/26/2021	$	843,878


Shares or Principal Amount				Market Value^†
SENIOR FLOATING RATE INTERESTS - 5.1%⁽¹⁰⁾ - (continued)
			Aerospace/Defense - 0.2%
	$	1,759,091	BE Aerospace, Inc. 3.89%, 12/16/2021	$	1,767,007
		285,000	DigitalGlobe, Inc. 3.51%, 01/15/2024		286,781
			TransDigm, Inc.
		1,336,642	3.77%, 06/09/2023		1,349,340
		983,341	3.85%, 05/14/2022		991,159

					4,394,287

			Agriculture - 0.0%
		714,221	Pinnacle Operating Corp. 4.75%, 11/15/2018		587,447

			Airlines - 0.0%
		933,625	Delta Air Lines, Inc. 3.25%, 10/18/2018		942,961

			Auto Manufacturers - 0.0%
		697,256	Jaguar Holding Co. 4.25%, 08/18/2022		704,402

			Chemicals - 0.2%
		1,093,552	Chemours Co. 3.77%, 05/12/2022		1,086,039
		2,584,013	Ineos U.S. Finance LLC 3.75%, 05/04/2018		2,589,388
		626,850	Nexeo Solutions LLC 5.25%, 06/09/2023		631,551
		675,012	Univar, Inc. 4.25%, 07/01/2022		680,777

					4,987,755

			Coal - 0.0%
		540,000	American Energy - Marcellus LLC 5.25%, 08/04/2020		292,502
		494,849	Arch Coal, Inc. 10.00%, 06/15/2021		501,242

					793,744

			Commercial Services - 0.2%
		530,000	Conduent, Inc. 6.25%, 12/07/2023		535,962
		233,238	KAR Auction Services, Inc. 4.50%, 03/09/2023		236,153
		588,412	ON Assignment, Inc. 3.52%, 06/03/2022		593,855
		630,000	Quikrete Holdings, Inc. 4.00%, 11/15/2023		635,777
		676,600	Russell Investment Group 6.75%, 06/01/2023		686,749
		1,078,292	ServiceMaster Co. 3.27%, 11/03/2023		1,080,988

					3,769,484

			Construction Materials - 0.1%
		1,474,450	ABC Supply Co., Inc. 3.52%, 10/31/2023		1,486,939

			Diversified Financial Services - 0.1%
		285,000	RP Crown Parent LLC 4.50%, 10/12/2023		287,779
		1,465,000	Telenet International Finance S.a.r.l. 3.70%, 01/31/2025		1,475,709

					1,763,488

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


		159

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
SENIOR FLOATING RATE INTERESTS - 5.1%⁽¹⁰⁾ - (continued)
			Electric - 0.2%
			Calpine Corp.
	$	1,353,029	3.27%, 01/31/2022	$	1,351,757
		552,225	3.75%, 05/31/2023		554,798
		625,000	Chief Exploration & Development LLC 7.75%, 05/16/2021		610,937
		600,000	Energy Future Intermediate Holding Co. LLC 4.25%, 06/30/2017		603,450
		1,859,043	Seadrill Partners Finco LLC 4.00%, 02/21/2021		1,266,009

					4,386,951

			Energy-Alternate Sources - 0.0%
		596,000	TEX Operations Co. LLC 5.00%, 08/04/2023		602,800

			Entertainment - 0.1%
		507,275	Eldorado Resorts LLC 4.25%, 07/23/2022		509,968
		902,293	Hilton Worldwide Finance LLC 3.26%, 10/25/2023		911,993
		573,300	Scientific Games International, Inc. 6.00%, 10/01/2021		580,111

					2,002,072

			Food - 0.1%
			Albertsons LLC
		683,705	3.77%, 08/22/2021		691,253
		308,452	4.25%, 12/22/2022		312,308
		989,513	Aramark Services, Inc. 3.50%, 02/24/2021		997,815
		337,125	B&G Foods, Inc. 3.75%, 11/02/2022		341,099
		503,444	Hostess Brands LLC 4.00%, 08/03/2022		508,227

					2,850,702

			Food Service - 0.0%
		585,000	Hearthside Food Solutions 4.50%, 06/02/2021		590,850

			Healthcare-Products - 0.0%
		372,166	Alere, Inc. 4.25%, 06/18/2022		371,701
		299,250	Revlon Consumer Products Corp. 4.31%, 09/07/2023		302,057
		429,563	Sterigenics-Nordion Holdings LLC 4.25%, 05/15/2022		430,907

					1,104,665

			Healthcare-Services - 0.4%
		386,100	Acadia Healthcare Company, Inc. 3.76%, 02/16/2023		388,996
		1,163,695	American Renal Holdings, Inc. 4.75%, 09/20/2019		1,163,695
		366,563	CDRH Parent, Inc. 5.25%, 07/01/2021		332,960
			Community Health Systems, Inc.
		471,399	3.75%, 12/31/2019		456,376
		867,368	4.00%, 01/27/2021		838,459
		1,443,450	4.18%, 12/31/2018		1,418,189
		1,013,700	Envision Healthcare Corp. 4.00%, 12/01/2023		1,023,208


Shares or Principal Amount				Market Value^†
SENIOR FLOATING RATE INTERESTS - 5.1%⁽¹⁰⁾ - (continued)
			Healthcare-Services - 0.4% - (continued)
	$	259,350	Genoa, a QoL Healthcare Company LLC 4.75%, 10/28/2023	$	261,943
		905,000	inVentiv Health, Inc. 4.75%, 11/09/2023		912,430
		890,836	MPH Acquisition Holdings LLC 5.00%, 06/07/2023		905,633
		423,280	Opal Acquisition, Inc. 5.00%, 11/27/2020		402,116
		413,643	Ortho-Clinical Diagnostics, Inc. 4.75%, 06/30/2021		409,656
		509,603	Surgery Center Holdings, Inc. 4.75%, 11/03/2020		512,788
		1,381,050	U.S. Renal Care, Inc. 5.25%, 12/31/2022		1,287,829

					10,314,278

			Household Products/Wares - 0.0%
		410,000	Galleria Co. 3.75%, 09/29/2023		411,538

			Insurance - 0.6%
			Asurion LLC
		119,353	4.02%, 07/08/2020		120,285
		458,850	4.75%, 11/03/2023		465,159
		1,772,790	5.00%, 08/04/2022		1,795,393
		1,870,000	8.50%, 03/03/2021		1,899,228
		4,556,708	Evertec Group LLC 3.25%, 04/17/2020		4,528,229
		408,985	National Financial Partners Corp. 6.25%, 07/01/2020		412,224
			Sedgwick Claims Management Services, Inc.
		2,892,716	3.75%, 03/01/2021		2,896,852
		1,250,000	6.75%, 02/28/2022		1,246,875
		966,492	USI, Inc. 4.25%, 12/27/2019		970,523

					14,334,768

			Internet - 0.1%
		724,021	Lands’ End, Inc. 4.25%, 04/04/2021		540,605
		1,624,255	Zayo Group LLC 3.75%, 05/06/2021		1,640,725

					2,181,330

			Leisure Time - 0.2%
			Delta 2 (LUX) S.a.r.l.
		2,675,000	5.07%, 07/30/2021		2,700,921
		1,140,000	8.07%, 07/31/2022		1,146,646

					3,847,567

			Lodging - 0.2%
		628,425	Boyd Gaming Corp. 3.76%, 09/15/2023		635,269
		3,266,547	Caesars Entertainment Operating Co. 0.00%, 03/01/2017⁽¹¹⁾		3,620,412
		775,125	Caesars Growth Properties Holdings LLC 6.25%, 05/08/2021		779,729
		626,138	La Quinta Intermediate Holdings LLC 3.75%, 04/14/2021		625,944

					5,661,354

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


		160

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
SENIOR FLOATING RATE INTERESTS - 5.1%⁽¹⁰⁾ - (continued)
			Machinery-Construction & Mining - 0.1%
	$	1,531,671	American Rock Salt Holdings LLC 4.75%, 05/20/2021	$	1,527,842
		528,127	Headwaters, Inc. 4.00%, 03/24/2022		530,604
		603,871	Neff Rental LLC 7.54%, 06/09/2021		598,967

					2,657,413

			Machinery-Diversified - 0.1%
		1,830,292	Gates Global, Inc. 4.25%, 07/06/2021		1,830,292

			Media - 0.5%
		929,358	Advantage Sales & Marketing, Inc. 4.25%, 07/23/2021		931,914
		1,760,864	AVSC Holding Corp. 4.50%, 01/24/2021		1,760,864
		563,588	Camelot UK Holdings Co., Ltd. 4.75%, 10/03/2023		569,810
		285,283	CBS Radio, Inc. 4.50%, 10/17/2023		287,779
		2,967,375	Charter Communications Operating LLC 3.02%, 07/01/2020		2,979,749
		386,878	Media General, Inc. 4.00%, 07/31/2020		386,940
		1,161	Mission Broadcasting, Inc. 0.00%, 09/26/2023⁽¹²⁾		1,170
			Numericable U.S. LLC
		710,000	4.04%, 01/14/2025		715,502
		233,825	5.14%, 01/15/2024		236,582
		1,798,310	Tribune Media Co. 3.77%, 12/27/2020		1,811,347
		1,055,000	UPC Financing Partnership 4.08%, 08/31/2024		1,065,550
		1,252,632	Virgin Media Investment Holdings Ltd. 0.00%, 01/31/2025⁽¹²⁾		1,257,492

					12,004,699

			Metal Fabricate/Hardware - 0.0%
		1,100,758	Rexnord LLC 3.75%, 08/21/2023		1,104,610

			Mining - 0.0%
		433,724	Ardagh Holdings USA, Inc. 4.00%, 12/17/2021		438,169
		515,231	Minerals Technologies, Inc. 3.75%, 05/09/2021		519,956

					958,125

			Oil & Gas - 0.1%
		455,000	California Resources Corp. 11.38%, 12/31/2021		504,290
		470,000	Chesapeake Energy Corp. 8.50%, 08/23/2021		510,928
		527,850	Drillships Ocean Ventures, Inc. 5.50%, 07/25/2021		414,911
		1,514,040	Fieldwood Energy LLC 3.88%, 10/01/2018		1,423,197

					2,853,326

			Packaging & Containers - 0.3%
		3,248,438	Berry Plastics Holding Corp. 3.50%, 02/08/2020		3,270,592


Shares or Principal Amount				Market Value^†
SENIOR FLOATING RATE INTERESTS - 5.1%⁽¹⁰⁾ - (continued)
			Packaging & Containers - 0.3% - (continued)
	$	510,928	Mauser U.S. Corp. 4.50%, 07/31/2021	$	514,121
		205,000	Prolampac Intermediate, Inc. 5.00%, 11/18/2023		207,179
		2,669,880	Reynolds Group Holdings, Inc. 4.25%, 02/05/2023		2,702,640
		570,208	Signode Industrial Group U.S., Inc. 4.00%, 05/01/2021		574,485

					7,269,017

			Pharmaceuticals - 0.1%
		1,386,000	Endo Luxembourg Finance Company I S.a r.l. 3.81%, 09/26/2022		1,391,946
		830,563	Valeant Pharmaceuticals International, Inc. 5.50%, 04/01/2022		830,720

					2,222,666

			Pipelines - 0.0%
		798,875	Philadelphia Energy Solutions LLC 6.25%, 04/04/2018		631,111

			Real Estate - 0.1%
			DTZ U.S. Borrower LLC
		1,488,722	4.25%, 11/04/2021		1,495,793
		35,319	9.25%, 11/04/2022		35,319

					1,531,112

			REITS - 0.0%
		609,265	MGM Growth Properties LLC 3.52%, 04/25/2023		615,791

			Retail - 0.3%
			Bass Pro Group LLC
		1,495,000	0.00%, 12/16/2023⁽¹²⁾		1,480,050
		505,988	4.00%, 06/05/2020		504,090
		608,475	Harbor Freight Tools USA, Inc. 3.89%, 08/19/2023		616,586
		625,531	Michaels Stores, Inc. 3.75%, 01/30/2023		632,374
		1,239,893	Neiman Marcus Group, Inc. 4.25%, 10/25/2020		1,074,677
		522,112	Party City Holdings, Inc. 4.21%, 08/19/2022		526,519
		250,000	Rite Aid Corp. 5.75%, 08/21/2020		251,458
		1,115,661	US Foods, Inc. 3.77%, 06/27/2023		1,126,817

					6,212,571

			Semiconductors - 0.1%
		613,910	Avago Technologies Cayman Ltd. 3.70%, 02/01/2023		622,351
		410,000	Flex Acquisition Company, Inc. 0.00%, 12/13/2023⁽¹²⁾		413,415
		855,307	Lattice Semiconductor Corp. 5.25%, 03/10/2021		853,169
		498,750	ON Semiconductor Corp. 4.02%, 03/31/2023		504,805

					2,393,740

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


		161

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
SENIOR FLOATING RATE INTERESTS - 5.1%⁽¹⁰⁾ - (continued)
			Software - 0.5%
	$	430,000	Dell, Inc. 4.02%, 09/07/2023	$	437,082
		349,518	Epicor Software Corp. 4.75%, 06/01/2022		350,518
		4,897,159	First Data Corp. 3.76%, 03/24/2021		4,952,252
		827,096	Hyland Software, Inc. 4.75%, 07/01/2022		831,058
		1,582,423	Infor US, Inc. 3.75%, 06/03/2020		1,583,736
			SS&C Technologies, Inc.
		935,291	4.00%, 07/08/2022		947,571
		95,788	4.00%, 07/08/2022		97,045
		821,282	Verint Systems, Inc. 3.57%, 09/06/2019		823,680
		1,676,575	WEX, Inc. 4.27%, 07/01/2023		1,698,840

					11,721,782

			Telecommunications - 0.2%
		2,020,000	Level 3 Financing, Inc. 3.50%, 05/31/2022		2,042,725
		667,785	LTS Buyer LLC 4.25%, 04/13/2020		670,917
			Ziggo Financing Partnership
		851,279	3.50%, 01/15/2022		854,829
		98,429	3.70%, 01/15/2022		98,840

					3,667,311

			Trucking & Leasing - 0.0%
		1,146,457	Consolidated Container Co. 5.00%, 07/03/2019		1,152,190

			Total Senior Floating Rate Interests (cost $127,559,592)	$	127,389,016

U.S. GOVERNMENT AGENCIES - 44.0%
			FHLMC - 20.2%
		229,056	0.00%, 11/15/2036⁽¹³⁾	$	205,221
		63,711,331	0.30%, 10/25/2020⁽²⁾⁽⁴⁾		418,915
		30,599,466	1.96%, 08/25/2018⁽²⁾⁽⁴⁾		756,615
		66,100,000	2.50%, 01/01/2032^(14)(15)		66,218,775
		4,843,166	3.00%, 03/15/2028⁽⁴⁾		428,732
		3,976,336	3.00%, 08/01/2029		4,091,949
		53,475,000	3.00%, 01/01/2032^(14)(15)		54,870,660
		1,245,492	3.00%, 03/15/2033⁽⁴⁾		155,513
		7,133,887	3.00%, 11/01/2036		7,219,331
		11,170,254	3.00%, 11/01/2046		11,106,828
		2,126,460	3.00%, 12/01/2046		2,115,019
		62,775,000	3.00%, 01/01/2047^(14)(15)		62,333,968
		9,200,000	3.50%, 01/01/2032^(14)(15)		9,594,432
		7,313,577	3.50%, 08/01/2034		7,563,007
		4,978,225	3.50%, 03/15/2041⁽⁴⁾		640,222
		1,789,527	3.50%, 06/01/2046		1,834,154
		118,450,000	3.50%, 01/01/2047^(14)(15)		121,286,037
		7,368,653	4.00%, 08/01/2025		7,752,976
		3,415,266	4.00%, 12/15/2026⁽⁴⁾		336,975
		5,995,925	4.00%, 07/15/2027⁽⁴⁾		667,030
		5,681,695	4.00%, 05/01/2042		5,996,617
		1,769,486	4.00%, 08/01/2042		1,875,936
		2,707,565	4.00%, 09/01/2042		2,870,453
		616,282	4.00%, 07/01/2044		647,396
		436,341	4.00%, 06/01/2045		459,453


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 44.0% - (continued)
			FHLMC - 20.2% - (continued)
	$	3,742,390	4.00%, 01/01/2046	$	3,933,521
		2,038,921	4.00%, 02/01/2046		2,143,180
		54,875,000	4.00%, 01/01/2047^(14)(15)		57,636,968
		1,651,003	4.50%, 03/15/2041		1,846,821
		1,467,402	4.50%, 09/01/2044		1,576,201
		26,350,000	4.50%, 01/01/2047^(14)(15)		28,283,373
		4,262,954	4.75%, 07/15/2039		4,598,210
		7,875,000	5.00%, 01/01/2047^(14)(15)		8,574,521
		1,104	5.50%, 10/01/2018		1,127
		81,261	5.50%, 03/01/2028		90,008
		122,356	5.50%, 04/01/2033		135,551
		1,525,837	5.50%, 05/01/2034		1,716,142
		1,917	5.50%, 11/01/2035		2,144
		36,114	5.50%, 05/01/2037		40,145
		84,853	5.50%, 11/01/2037		94,571
		153,834	5.50%, 02/01/2038		171,628
		63,150	5.50%, 04/01/2038		70,444
		77,656	5.50%, 06/01/2038		86,419
		8,670,907	5.50%, 08/01/2038		9,661,016
		816,263	5.50%, 09/01/2038		909,002
		16,597	5.50%, 12/01/2039		18,487
		221,345	5.50%, 02/01/2040		246,508
		710,650	5.50%, 05/01/2040		792,735
		715,997	5.50%, 08/01/2040		797,352
		2,917,321	5.50%, 06/01/2041		3,255,724
		8	6.00%, 04/01/2017		8
		13	6.00%, 05/01/2017		13
		34	6.00%, 07/01/2017		34
		1,695	6.00%, 07/01/2029		1,915
		365,295	6.00%, 10/01/2032		418,929
		436,882	6.00%, 11/01/2032		500,695
		450,819	6.00%, 12/01/2032		517,389
		28,189	6.00%, 11/01/2033		32,251
		50,050	6.00%, 01/01/2034		56,897
		32,094	6.00%, 02/01/2034		36,719
		377,663	6.00%, 08/01/2034		430,972
		412,595	6.00%, 09/01/2034		470,478
		295,350	6.00%, 01/01/2035		334,833
		3,037,814	6.00%, 11/01/2037		3,453,668
		133	6.50%, 07/01/2031		150
		361	6.50%, 08/01/2032		408
		1,453,968	6.50%, 07/15/2036		1,633,314
		249,103	6.50%, 12/01/2037		287,217
		170	7.50%, 09/01/2029		188
		2,718	7.50%, 11/01/2031		3,017

					506,307,107

			FNMA - 17.1%
		218,624	0.00%, 03/25/2036⁽¹³⁾		189,496
		1,881,634	0.00%, 06/25/2036⁽¹³⁾		1,649,658
		6,731,683	1.94%, 04/25/2055⁽²⁾⁽⁴⁾		390,307
		6,664,756	1.97%, 08/25/2044⁽²⁾⁽⁴⁾		431,170
		7,240,885	1.97%, 05/25/2046⁽²⁾⁽⁴⁾		404,699
		3,994,897	2.09%, 06/25/2055⁽²⁾⁽⁴⁾		265,836
		1,421,110	2.50%, 06/25/2028⁽⁴⁾		118,385
		66,200,000	2.50%, 01/01/2032^(14)(15)		66,304,728
		288,665	2.50%, 01/01/2043		276,108
		5,851,325	2.50%, 02/01/2043		5,596,796
		2,289,785	2.50%, 03/01/2043		2,190,248
		4,732,347	2.50%, 05/01/2043		4,526,621
		3,082,024	2.50%, 06/01/2043		2,943,794

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


		162

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 44.0% - (continued)
			FNMA - 17.1% - (continued)
	$	2,164,744	2.50%, 04/01/2045	$	2,061,803
		9,780,000	2.65%, 06/01/2025		9,624,366
		13,400,000	2.69%, 04/01/2025		13,227,900
		1,253,937	3.00%, 09/25/2027⁽⁴⁾		117,340
		9,385,476	3.00%, 01/25/2028⁽⁴⁾		895,780
		4,070,926	3.00%, 04/25/2028⁽⁴⁾		392,976
		12,007,000	3.00%, 01/01/2032^(14)(15)		12,321,246
		67,200,000	3.00%, 01/01/2047^(14)(15)		66,757,407
		540,000	3.16%, 12/01/2026		545,807
		497,556	3.24%, 12/01/2026		506,296
		569,348	3.34%, 04/01/2024		589,686
		213,646	3.45%, 01/01/2024		222,565
		225,282	3.47%, 01/01/2024		234,957
		2,294,685	3.50%, 10/25/2027⁽⁴⁾		262,388
		2,310,722	3.50%, 05/25/2030⁽⁴⁾		313,585
		2,662,775	3.50%, 10/01/2044		2,740,207
		3,323,154	3.50%, 02/01/2045		3,408,278
		5,427,020	3.50%, 09/01/2046		5,567,599
		2,493,044	3.50%, 10/01/2046		2,557,620
		1,790,066	3.50%, 11/01/2046		1,842,527
		115,350,000	3.50%, 01/01/2047^(14)(15)		118,224,741
		563,453	3.67%, 08/01/2023		596,419
		155,000	3.70%, 10/01/2023		163,743
		2,021,053	3.74%, 06/01/2026		2,130,249
		210,000	3.76%, 03/01/2024		223,047
		315,000	3.86%, 12/01/2025		334,878
		165,000	3.86%, 11/01/2023		176,111
		534,245	3.87%, 10/01/2025		567,244
		686,924	3.89%, 05/01/2030		714,974
		728,773	3.93%, 10/01/2023		775,379
		299,045	3.96%, 05/01/2034		311,277
		193,484	3.97%, 05/01/2029		207,760
		3,551,587	4.00%, 06/01/2025		3,746,675
		1,025,873	4.00%, 10/01/2025		1,083,310
		6,045,986	4.00%, 10/01/2040		6,361,354
		2,628,583	4.00%, 11/01/2040		2,773,574
		1,913,535	4.00%, 12/01/2040		2,019,194
		958,255	4.00%, 02/01/2041		1,011,961
		2,324,114	4.00%, 03/01/2041		2,453,478
		1,023,051	4.00%, 03/25/2042⁽⁴⁾		145,494
		1,016,999	4.00%, 08/01/2042		1,072,878
		2,114,780	4.00%, 09/01/2042		2,222,939
		594,252	4.00%, 11/25/2042⁽⁴⁾		88,809
		507,240	4.00%, 03/01/2045		533,504
		4,046,460	4.00%, 05/01/2046		4,258,758
		2,126,898	4.00%, 06/01/2046		2,238,148
		10,330,000	4.00%, 01/01/2047^(14)(15)		10,860,018
		443,494	4.06%, 10/01/2028		478,623
		1,111,712	4.50%, 04/01/2025		1,166,997
		1,346,843	4.50%, 07/25/2027⁽⁴⁾		141,016
		1,721,010	4.50%, 09/01/2035		1,854,892
		6,018,141	4.50%, 08/01/2040		6,503,216
		5,838,142	4.50%, 10/01/2040		6,291,747
		2,633,824	4.50%, 10/01/2041		2,838,055
		2,230,229	4.50%, 09/01/2043		2,401,011
		3,000,000	4.50%, 01/01/2047^(14)(15)		3,226,758
		1,539	5.00%, 02/01/2018		1,575
		37,896	5.00%, 04/01/2018		38,783
		263,982	5.00%, 05/01/2018		270,220
		309,217	5.00%, 06/01/2018		316,454
		9,037	5.00%, 07/01/2018		9,249


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 44.0% - (continued)
			FNMA - 17.1% - (continued)
	$	94,690	5.00%, 09/01/2018	$	96,906
		240,199	5.00%, 01/01/2020		245,821
		1,279,010	5.00%, 06/01/2022		1,362,575
		446,605	5.00%, 06/01/2025		478,814
		1,079,468	5.00%, 04/25/2038		1,162,716
		798,359	5.46%, 05/25/2042⁽²⁾⁽⁴⁾		92,997
		123	5.50%, 01/01/2017		123
		34,675	5.50%, 02/01/2018		35,104
		1,261	5.50%, 06/01/2018		1,285
		6,123	5.50%, 11/01/2018		6,219
		58,730	5.50%, 08/01/2019		60,766
		106,661	5.50%, 09/01/2019		110,100
		23,847	5.50%, 10/01/2019		24,581
		12,580	5.50%, 01/01/2020		12,983
		3,729	5.50%, 03/01/2020		3,861
		510,390	5.50%, 05/01/2020		531,193
		284,158	5.50%, 06/01/2022		299,789
		369,740	5.50%, 06/01/2033		414,179
		395,607	5.50%, 08/01/2033		443,657
		1,769,664	5.50%, 09/01/2033		1,985,282
		1,681,377	5.50%, 12/01/2033		1,903,052
		1,443,773	5.50%, 01/01/2034		1,619,268
		6,156,461	5.50%, 11/01/2035		6,908,092
		1,968,549	5.50%, 04/01/2036		2,201,941
		1,511,636	5.50%, 09/01/2036		1,694,630
		165,749	5.50%, 01/01/2037		184,812
		982,323	5.50%, 04/25/2037		1,090,852
		4,095,623	5.50%, 06/25/2042⁽⁴⁾		983,528
		4,433	6.00%, 03/01/2022		4,529
		717,509	6.00%, 12/01/2032		826,207
		761,084	6.00%, 01/01/2033		871,714
		144,360	6.00%, 02/01/2033		163,965
		781,321	6.00%, 03/01/2033		896,084
		1,893,615	6.00%, 02/01/2037		2,147,550
		109	6.50%, 05/01/2017		110
		1,451	6.50%, 05/01/2031		1,642
		1,420	6.50%, 09/01/2031		1,633
		2,346	6.50%, 07/01/2032		2,724
		2,109	7.00%, 07/01/2029		2,434
		100	7.00%, 12/01/2030		103
		851	7.00%, 02/01/2032		929
		358	7.00%, 03/01/2032		425
		2,137	7.00%, 09/01/2032		2,291
		64,375	7.00%, 10/01/2037		68,082
		3,344	7.50%, 10/01/2022		3,703
		2,288	7.50%, 06/01/2027		2,704
		3,044	7.50%, 10/01/2029		3,177
		19,873	7.50%, 03/01/2030		22,456
		9,069	7.50%, 04/01/2030		9,491
		1,419	7.50%, 06/01/2030		1,626
		2,607	7.50%, 07/01/2030		2,991
		786	7.50%, 08/01/2030		904
		6,172	7.50%, 10/01/2030		6,276
		8,357	7.50%, 01/01/2031		8,584
		4,817	7.50%, 02/01/2031		4,987
		31,735	7.50%, 05/01/2031		36,363
		9,184	7.50%, 06/01/2031		9,472
		2,512	7.50%, 08/01/2031		2,885
		41,835	7.50%, 09/01/2031		43,967
		365	7.50%, 05/01/2032		428

					429,418,253

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


		163

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 44.0% - (continued)
			GNMA - 6.7%
	$	10,272,843	3.00%, 03/15/2045	$	10,394,967
		488,283	3.00%, 04/15/2045		494,088
		6,214,232	3.00%, 07/15/2045		6,288,108
		135,529	3.00%, 08/15/2045		137,140
		4,675,000	3.00%, 01/01/2047^(14)(15)		4,733,529
		540,839	3.50%, 11/15/2042		568,562
		17,461	3.50%, 12/15/2042		18,227
		386,349	3.50%, 02/15/2043		403,275
		17,669	3.50%, 03/15/2043		18,443
		2,377,521	3.50%, 04/15/2043		2,481,568
		7,247,671	3.50%, 05/15/2043		7,551,510
		23,574,304	3.50%, 10/20/2046		24,536,810
		700,000	3.50%, 01/01/2047^(14)(15)		727,658
		8,201,903	4.00%, 07/20/2040		8,747,984
		9,381,254	4.00%, 09/20/2040		10,061,797
		13,935,324	4.00%, 10/20/2040		14,939,050
		2,144,642	4.00%, 12/20/2040		2,309,474
		716,073	4.00%, 05/16/2042⁽⁴⁾		108,538
		449,436	4.00%, 01/20/2044⁽⁴⁾		88,923
		20,000,000	4.00%, 01/01/2047^(14)(15)		21,239,452
		337,058	4.50%, 11/15/2039		365,963
		3,013,950	4.50%, 05/15/2040		3,299,929
		9,868,215	4.50%, 05/20/2040		10,630,143
		419,350	4.50%, 07/15/2041		456,507
		1,041,194	4.50%, 01/20/2046		1,112,349
		1,650,000	4.50%, 01/01/2047^(14)(15)		1,761,053
		1,060,357	5.00%, 05/20/2040		1,168,096
		2,564,194	5.00%, 06/15/2041		2,821,439
		3,327,713	5.00%, 10/16/2041⁽⁴⁾		566,555
		4,106,513	5.00%, 03/15/2044		4,530,524
		4,400,000	5.00%, 01/01/2047^(14)(15)		4,805,625
		676,007	5.50%, 03/15/2033		777,526
		1,049,084	5.50%, 04/15/2033		1,205,193
		1,108,788	5.50%, 05/15/2033		1,279,041
		1,773,632	5.50%, 10/20/2034		1,994,257
		2,084	6.00%, 12/15/2023		2,362
		1,218	6.00%, 01/15/2029		1,381
		1,979	6.00%, 04/15/2029		2,296
		61,854	6.00%, 12/15/2031		70,504
		1,209	6.00%, 10/15/2032		1,402
		32,526	6.00%, 06/15/2033		37,714
		3,253	6.00%, 03/15/2034		3,772
		73,486	6.00%, 08/15/2034		83,526
		91,154	6.00%, 09/15/2034		104,067
		59,400	6.00%, 02/15/2035		67,833
		435,693	6.00%, 12/15/2035		500,618
		77,211	6.00%, 02/15/2036		87,529
		255,304	6.00%, 03/15/2036		291,353
		33,645	6.00%, 04/15/2036		38,141
		205,071	6.00%, 05/15/2036		236,059
		430,244	6.00%, 06/15/2036		494,544
		272,771	6.00%, 07/15/2036		311,431
		44,689	6.00%, 08/15/2036		50,674
		267,058	6.00%, 02/15/2037		305,698
		1,697	6.00%, 05/15/2037		1,924
		586,599	6.00%, 06/15/2037		674,248
		451,943	6.00%, 07/15/2037		512,338
		99,512	6.00%, 08/15/2037		112,875
		91,741	6.00%, 09/15/2037		104,002
		150,530	6.00%, 10/15/2037		170,732
		153,702	6.00%, 11/15/2037		174,332


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 44.0% - (continued)
			GNMA - 6.7% - (continued)
	$	159,350	6.00%, 12/15/2037	$	183,269
		240,101	6.00%, 01/15/2038		275,257
		22,587	6.00%, 02/15/2038		25,605
		49,802	6.00%, 05/15/2038		56,457
		10,792	6.00%, 06/15/2038		12,252
		69,515	6.00%, 08/15/2038		78,895
		172,593	6.00%, 09/15/2038		196,035
		201,336	6.00%, 10/15/2038		234,132
		437,063	6.00%, 11/15/2038		495,639
		251,409	6.00%, 12/15/2038		285,311
		2,856	6.00%, 01/15/2039		3,242
		44,088	6.00%, 08/15/2039		49,983
		132,179	6.00%, 11/15/2039		149,843
		141,273	6.00%, 02/15/2040		160,154
		1,432,751	6.00%, 06/15/2040		1,624,233
		267,139	6.00%, 07/15/2040		302,837
		1,496,035	6.00%, 06/15/2041		1,701,227
		27,467	6.50%, 06/15/2028		31,375
		940	6.50%, 07/15/2028		1,073
		4,290	6.50%, 08/15/2028		4,901
		20,558	6.50%, 09/15/2028		23,483
		3,576	6.50%, 10/15/2028		3,825
		6,288	6.50%, 11/15/2028		7,183
		12,941	6.50%, 12/15/2028		14,782
		18,801	6.50%, 01/15/2029		21,477
		30,551	6.50%, 02/15/2029		34,897
		334,180	6.50%, 03/15/2029		381,721
		50,419	6.50%, 04/15/2029		57,593
		30,716	6.50%, 05/15/2029		35,086
		210,540	6.50%, 06/15/2029		240,493
		9,959	6.50%, 07/15/2029		11,376
		368	6.50%, 03/15/2031		420
		261,672	6.50%, 04/15/2031		298,897
		80,329	6.50%, 05/15/2031		92,650
		13,743	6.50%, 06/15/2031		15,845
		237,615	6.50%, 07/15/2031		271,419
		122,885	6.50%, 08/15/2031		140,368
		168,323	6.50%, 09/15/2031		192,269
		165,095	6.50%, 10/15/2031		188,583
		502,268	6.50%, 11/15/2031		573,723
		89,915	6.50%, 12/15/2031		102,707
		377,687	6.50%, 01/15/2032		431,421
		82,012	6.50%, 02/15/2032		94,716
		60,486	6.50%, 03/15/2032		69,092
		279,267	6.50%, 04/15/2032		321,231
		1,040	6.50%, 05/15/2032		1,187
		39,572	6.50%, 06/15/2032		45,202
		1,105	6.50%, 09/15/2032		1,284
		10,791	7.00%, 06/20/2030		11,997
		991	7.00%, 02/15/2031		1,097
		208	7.00%, 06/15/2031		223
		224	7.00%, 08/15/2031		254
		819	8.50%, 11/15/2024		822

					166,623,701


			Total U.S. Government Agencies (cost $1,094,889,219)	$	1,102,349,061

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


		164

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT SECURITIES - 4.4%
			U.S. Treasury Securities - 4.4%
			U.S. Treasury Bonds - 1.4%
	$	1,350,000	2.50%, 02/15/2045	$	1,202,502
		7,439,000	2.50%, 02/15/2046⁽¹⁶⁾		6,610,251
		2,800,000	3.00%, 11/15/2044^(16)(17)		2,765,986
		5,595,000	3.00%, 05/15/2045⁽¹⁶⁾		5,519,378
		9,544,000	3.00%, 11/15/2045⁽¹⁶⁾		9,413,514
		9,260,000	3.13%, 08/15/2044^(16)(17)		9,372,129

					34,883,760

			U.S. Treasury Notes - 3.0%
		43,972,007	0.25%, 01/15/2025^(8)(16)		43,245,721
		31,835,000	2.00%, 11/15/2026		30,629,981
		200,000	2.38%, 08/15/2024		200,930

					74,076,632


			Total U.S. Government Securities (cost $112,196,131)	$	108,960,392


COMMON STOCKS - 0.0%
			Energy - 0.0%
		5,966	Arch Coal, Inc.*	$	465,646
		14,557	Templar Energy LLC Class A*^(5)(18)		145,573

					611,219

			Utilities - 0.0%
		800,000	TCEH Corp.*^(5)(18)		1
		13,339	Vistra Energy Corp.		206,754

					206,755


			Total Common Stocks (cost $732,502)	$	817,974


PREFERRED STOCKS - 0.1%
			Banks - 0.1%
		2,242	U.S. Bancorp Series A 3.50%⁽²⁾⁽⁷⁾	$	1,950,495

			Diversified Financials - 0.0%
		30,000	Citigroup Capital XIII 7.26%⁽²⁾		774,600


			Total Preferred Stocks (cost $2,426,720)	$	2,725,095


			Total Long-Term Investments (cost $3,072,986,623)	$	3,074,788,498


SHORT-TERM INVESTMENTS - 6.7%
			Commercial Paper - 1.0%
			Auto Manufacturers - 0.5%
	$	13,195,000	Toyota Motor Credit Corp. 1.22%, 06/29/2017⁽⁹⁾	$	13,120,034

			Diversified Financial Services - 0.5%
		13,230,000	KFW International Finance, Inc. 0.81%, 02/01/2017⁽⁹⁾		13,220,658

					26,340,692


Shares or Principal Amount			Market Value^†
SHORT-TERM INVESTMENTS - 6.7% - (continued)
		Other Investment Pools & Funds - 5.7%
	142,599,666	Morgan Stanley Institutional Liquidity Funds, Institutional Class	$	142,599,666


		Total Short-Term Investments (cost $168,936,594)	$	168,940,358



Total Investments Excluding Purchased Options (cost $3,241,923,217)	129.4	%	$	3,243,728,856


Total Purchased Options (cost $135,072)	0.0	%	$	13,338


Total Investments (cost $3,242,058,289)^{^}	129.4	%	$	3,243,742,194
Other Assets and Liabilities	(29.4	)%		(737,049,836	)

Total Net Assets	100.0	%	$	2,506,692,358

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


		165

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $3,243,684,155 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	41,435,835
Unrealized Depreciation		(41,377,796	)

Net Unrealized Appreciation	$	58,039

*	Non-income producing.

⁽¹⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $658,887,137, which represents 26.3% of total net assets.

⁽²⁾	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2016.

⁽³⁾	Security is a “step-up” bond where coupon increases or steps up at a predetermined date. Rate shown is current coupon rate.

⁽⁴⁾	Securities disclosed are interest-only strips.

⁽⁵⁾

These securities are valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of these securities was $8,898,574, which represents 0.4% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

⁽⁶⁾

These securities were sold to the Fund under Regulation S, rules governing offers and sales made outside the United States without registration under the Securities Act of 1933, as amended. The Fund may only be able to resell these securities in the United States if an exemption from registration under the federal and state securities laws is available, or the Fund may only be able to sell these securities outside of the United States (such as on a foreign exchange) to a non-U.S. person. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $34,814,825, which represents 1.4% of total net assets.

⁽⁷⁾	Perpetual maturity security. Maturity date shown is the next call date or final legal maturity date, whichever comes first.

⁽⁸⁾	The principal amount for these securities are adjusted for inflation and the interest payments equal a fixed percentage of the inflation-adjusted principal amount.

⁽⁹⁾	The rate shown represents current yield to maturity.

⁽¹⁰⁾

⁽¹¹⁾	Non-income producing. For long-term debt securities, items identified are in default as to payment of interest and/or principal.

⁽¹²⁾	Represents an unsettled loan commitment. The coupon rate will be determined at time of settlement.

⁽¹³⁾	Securities disclosed are principal-only strips.

⁽¹⁴⁾	Represents or includes a TBA transaction.

⁽¹⁵⁾	This security, or a portion of this security, was purchased on a when-issued, delayed-delivery or delayed-draw basis. The cost of these securities was $717,643,265 at December 31, 2016.

⁽¹⁶⁾	This security, or a portion of this security, has been pledged as collateral in connection with OTC swap contracts.

⁽¹⁷⁾	This security, or a portion of this security, has been pledged as collateral in connection with futures contracts.

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


		166

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016

⁽¹⁸⁾


Period Acquired	Shares/Par		Security	Cost
10/2016		800,000	TCEH Corp.	$	—
09/2016		14,557	Templar Energy LLC Class A		124,644

				$	124,644

At December 31, 2016, the aggregate value of these securities was $145,573, which represents 0.0% of total net assets.

OTC Option Contracts Outstanding at December 31, 2016


Description	Counter- party		Exercise Price/FX Rate/Rate			Expiration Date			Number of Contracts		Market Value^†		Premiums Paid (Received) by Fund		Unrealized Appreciation/ (Depreciation)
Purchased option contracts:
Puts
CNH Put/JPY Call		GSC		16.49	CNH		01/05/17	CNH		60,157,000	$	13,338	$	135,072	$	(121,734	)

Total purchased option contracts										60,157,000	$	13,338	$	135,072	$	(121,734	)

Futures Contracts Outstanding at December 31, 2016


Description	Number of Contracts		Expiration Date		Notional Amount		Market Value^†		Unrealized Appreciation/ (Depreciation)
Long position contracts:
Australian 10-Year Bond Future		400		03/15/2017	$	36,708,625	$	36,874,169	$	165,544
U.S. Treasury 10-Year Note Future		59		03/22/2017		7,787,527		7,909,688		122,161
U.S. Treasury 2-Year Note Future		250		03/31/2017		54,115,605		54,171,875		56,270
U.S. Treasury 5-Year Note Future		3,525		03/31/2017		415,335,872		414,765,822		(570,050	)
U.S. Treasury Long Bond Future		194		03/22/2017		29,520,538		29,227,313		(293,225	)
U.S. Ultra Bond Future		332		03/22/2017		53,389,686		53,203,000		(186,686	)

Total									$	(705,986	)

Short position contracts:
U.S. Treasury 10-Year Note Future		1,912		03/22/2017	$	238,335,501	$	237,625,750	$	709,751

Total futures contracts									$	3,765

TBA Sale Commitments Outstanding at December 31, 2016


Description	Principal Amount		Maturity Date		Market Value^†			Unrealized Appreciation/ (Depreciation)
FHLMC, 5.50%	$	5,100,000		01/01/2047	$	(5,654,625	)	$	7,969
FNMA, 3.50%		6,850,000		01/01/2032		(7,136,442	)		(11,372	)
FNMA, 4.00%		9,400,000		01/01/2032		(9,676,859	)		(30,109	)
FNMA, 4.50%		17,400,000		01/01/2047		(18,715,195	)		3,165
FNMA, 5.50%		16,400,000		01/01/2047		(18,230,906	)		11,532
FNMA, 6.00%		3,300,000		01/01/2047		(3,736,735	)		2,062
GNMA, 3.00%		21,800,000		01/01/2047		(22,072,925	)		(17,457	)
GNMA, 4.00%		53,499,000		01/01/2047		(56,814,472	)		(5,222	)

Total (proceeds $141,998,727)						$ (142,038,159	)		$ (39,432	)

At December 31, 2016, the aggregate market value of TBA Sale Commitments Outstanding represents (5.7)% of total net assets.


		167

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


OTC Credit Default Swap Contracts Outstanding at December 31, 2016
Reference Entity	Counter- party		Notional Amount^(a)			(Pay)/Receive Fixed Rate/Implied Credit Spread^(b)			Expiration Date		Upfront Premiums Paid		Upfront Premiums Received			Market Value^†			Unrealized Appreciation/ (Depreciation)
Credit default swaps on indices:
Buy protection:
ABX.HE.AA.06		MSC		USD	2,043,195		(0.32	%)		07/25/45	$	385,317	$	—		$	336,472		$	(48,845	)
ABX.HE.AAA.06		JPM		USD	110,365		(0.18	%)		07/25/45		2,438		—			2,463			25
ABX.HE.AAA.06		MSC		USD	369,956		(0.18	%)		07/25/45		8,242		—			8,256			14
ABX.HE.AAA.06		GSC		USD	13,213		(0.18	%)		07/25/45		1,082		—			295			(787	)
ABX.HE.AAA.06		BOA		USD	134,459		(0.18	%)		07/25/45		7,311		—			3,000			(4,311	)
ABX.HE.AAA.07		GSC		USD	1,607,485		(0.09	%)		08/25/37		369,315		—			373,593			4,278
ABX.HE.AAA.07		MSC		USD	2,343,053		(0.09	%)		08/25/37		569,955		—			544,544			(25,411	)
ABX.HE.AAA.07		CSI		USD	3,907,480		(0.09	%)		08/25/37		1,032,228		—			908,129			(124,099	)
ABX.HE.PENAAA.06		MSC		USD	1,813,720		(0.11	%)		05/25/46		209,579		—			190,237			(19,342	)
ABX.HE.PENAAA.06		JPM		USD	2,651,207		(0.11	%)		05/25/46		305,625		—			278,071			(27,554	)
ABX.HE.PENAAA.06		BOA		USD	1,155,933		(0.11	%)		05/25/46		262,975		—			121,240			(141,735	)
ABX.HE.PENAAA.06		GSC		USD	1,088,232		(0.11	%)		05/25/46		272,058		—			114,142			(157,916	)
CMBX.NA.A.7		JPM		USD	2,710,000		(2.00	%)		01/17/47		105,670		—			61,561			(44,109	)
CMBX.NA.A.9		DEUT		USD	955,000		(2.00	%)		09/17/58		48,730		—			53,591			4,861
CMBX.NA.AA.7		CSI		USD	110,000		(1.50	%)		01/17/47		3,458		—			1,307			(2,151	)
CMBX.NA.AA.7		CSI		USD	3,315,000		(1.50	%)		01/17/47		104,198		—			39,384			(64,814	)
CMBX.NA.AA.7		CSI		USD	3,315,000		(1.50	%)		01/17/47		104,198		—			39,384			(64,814	)
CMBX.NA.AA.7		CSI		USD	3,845,000		(1.50	%)		01/17/47		120,857		—			45,680			(75,177	)
CMBX.NA.AA.8		MSC		USD	1,410,000		(1.50	%)		10/17/57		57,115		—			33,123			(23,992	)
CMBX.NA.AAA.8		MSC		USD	665,000		(0.50	%)		10/17/57		17,554		—			7,590			(9,964	)
CMBX.NA.AAA.8		MSC		USD	1,545,000		(0.50	%)		10/17/57		40,182		—			17,632			(22,550	)
CMBX.NA.AJ.4		DEUT		USD	2,933,974		(0.96	%)		02/17/51		538,185		—			688,029			149,844
CMBX.NA.AJ.4		CBK		USD	2,352,110		(0.96	%)		02/17/51		418,966		—			551,579			132,613
CMBX.NA.AJ.4		GSC		USD	1,074,969		(0.96	%)		02/17/51		173,507		—			251,225			77,718
CMBX.NA.AJ.4		CSI		USD	3,062,181		(0.96	%)		02/17/51		758,133		—			718,093			(40,040	)
CMBX.NA.AJ.4		MSC		USD	7,174,677		(0.96	%)		02/17/51		1,776,486		—			1,682,490			(93,996	)
CMBX.NA.AS.6		CSI		USD	3,405,000		(1.00	%)		05/11/63		36,635		—			(17,355	)		(53,990	)
CMBX.NA.AS.6		CSI		USD	4,150,000		(1.00	%)		05/11/63		44,650		—			(21,153	)		(65,803	)
CMBX.NA.AS.7		CBK		USD	2,900,000		(1.00	%)		01/17/47		63,826		—			(428	)		(64,254	)
CMBX.NA.AS.7		GSC		USD	2,340,000		(1.00	%)		01/17/47		66,544		—			(216	)		(66,760	)
CMBX.NA.AS.7		CSI		USD	4,140,000		(1.00	%)		01/17/47		75,957		—			(611	)		(76,568	)
CMBX.NA.AS.8		DEUT		USD	1,115,000		(1.00	%)		10/17/57		82,139		—			7,671			(74,468	)
CMBX.NA.BBB.7		GSC		USD	1,240,000		(3.00	%)		01/17/47		107,628		—			69,809			(37,819	)
CMBX.NA.BBB.7		CSI		USD	1,700,000		(3.00	%)		01/17/47		166,127		—			95,706			(70,421	)
CMBX.NA.BBB.7		CSI		USD	1,985,000		(3.00	%)		01/17/47		193,977		—			111,750			(82,227	)
CMBX.NA.BBB.7		MSC		USD	2,075,000		(3.00	%)		01/17/47		214,704		—			116,817			(97,887	)
CMBX.NA.BBB.7		CSI		USD	265,000		(3.00	%)		01/17/47		22,787		—			14,919			(7,868	)
CMBX.NA.BBB.7		DEUT		USD	900,000		(3.00	%)		01/17/47		66,133		—			50,667			(15,466	)
CMBX.NA.BBB.7		GSC		USD	705,000		(3.00	%)		01/17/47		63,986		—			39,807			(24,179	)
CMBX.NA.BBB.7		MSC		USD	1,250,000		(3.00	%)		01/17/47		104,245		—			70,372			(33,873	)
CMBX.NA.BBB.7		DEUT		USD	920,000		(3.00	%)		01/17/47		88,210		—			51,793			(36,417	)
CMBX.NA.BBB.7		GSC		USD	1,410,000		(3.00	%)		01/17/47		135,433		—			79,379			(56,054	)
CMBX.NA.BBB.7		GSC		USD	1,555,000		(3.00	%)		01/17/47		145,922		—			87,543			(58,379	)
CMBX.NA.BBB.7		DEUT		USD	950,000		(3.00	%)		01/17/47		118,828		—			53,482			(65,346	)
CMBX.NA.BBB.7		CSI		USD	2,020,000		(3.00	%)		01/17/47		182,307		—			113,720			(68,587	)
CMBX.NA.BBB.7		GSC		USD	905,000		(3.00	%)		01/17/47		126,975		—			50,949			(76,026	)
CMBX.NA.BBB.7		MSC		USD	7,150,000		(3.00	%)		01/17/47		698,772		—			402,525			(296,247	)

Total											$	10,499,149	$	—		$	8,448,256		$	(2,050,893	)

Sell protection:
CDX.EM.26		BCLY		USD	7,710,000		1.00	%		12/20/21	$	—	$	(589,515	)	$	(477,238	)	$	112,277
CDX.EM.26		BCLY		USD	5,143,000		1.00	%		12/20/21		—		(426,021	)		(318,344	)		107,677
CDX.EM.26		BCLY		USD	7,719,000		1.00	%		12/20/21		—		(572,889	)		(477,794	)		95,095
CMBX.NA.A.6		GSC		USD	1,915,000		2.00	%		05/11/63		24,998		—			(39,356	)		(64,354	)
CMBX.NA.AAA.6		JPM		USD	30,046,676		0.50	%		05/11/63		—		(1,224,770	)		(9,432	)		1,215,338
CMBX.NA.AAA.6		UBS		USD	15,702,514		0.50	%		05/11/63		—		(418,343	)		(4,929	)		413,414

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


		168

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


OTC Credit Default Swap Contracts Outstanding at December 31, 2016 - (continued)
Reference Entity	Counter- party		Notional Amount^(a)			(Pay)/Receive Fixed Rate/Implied Credit Spread^(b)			Expiration Date		Upfront Premiums Paid		Upfront Premiums Received			Market Value^†			Unrealized Appreciation/ (Depreciation)
Credit default swaps on indices: – (continued)
Sell protection: – (continued)
CMBX.NA.AAA.6		JPM		USD	8,146,117		0.50	%		05/11/63	$	—	$	(256,157	)	$	(2,557	)	$	253,600
CMBX.NA.AAA.6		UBS		USD	6,626,841		0.50	%		05/11/63		—		(212,245	)		(2,080	)		210,165
CMBX.NA.AAA.6		MLI		USD	5,847,212		0.50	%		05/11/63		—		(190,863	)		(1,835	)		189,028
CMBX.NA.AAA.6		MLI		USD	5,975,152		0.50	%		05/11/63		—		(190,618	)		(1,875	)		188,743
CMBX.NA.AAA.6		MLI		USD	5,707,279		0.50	%		05/11/63		—		(188,669	)		(1,791	)		186,878
CMBX.NA.AAA.6		GSC		USD	14,802,943		0.50	%		05/11/63		—		(171,134	)		(4,647	)		166,487
CMBX.NA.AAA.6		MLI		USD	5,502,377		0.50	%		05/11/63		—		(126,089	)		(1,727	)		124,362
CMBX.NA.AAA.6		MLI		USD	2,853,640		0.50	%		05/11/63		—		(96,814	)		(895	)		95,919
CMBX.NA.AAA.6		DEUT		USD	3,608,280		0.50	%		05/11/63		—		(87,951	)		(1,133	)		86,818
CMBX.NA.AAA.6		CSI		USD	2,633,744		0.50	%		05/11/63		—		(61,956	)		(827	)		61,129
CMBX.NA.AAA.6		CSI		USD	2,633,744		0.50	%		05/11/63		—		(61,880	)		(826	)		61,054
CMBX.NA.AAA.6		CSI		USD	1,659,209		0.50	%		05/11/63		—		(60,682	)		(521	)		60,161
CMBX.NA.AAA.6		GSC		USD	1,829,128		0.50	%		05/11/63		—		(58,317	)		(574	)		57,743
CMBX.NA.AAA.6		MSC		USD	2,518,799		0.50	%		05/11/63		—		(58,521	)		(791	)		57,730
CMBX.NA.AAA.6		DEUT		USD	1,569,252		0.50	%		05/11/63		—		(52,818	)		(493	)		52,325
CMBX.NA.AAA.6		MSC		USD	1,334,364		0.50	%		05/11/63		—		(44,912	)		(419	)		44,493
CMBX.NA.AAA.6		MLI		USD	1,718,181		0.50	%		05/11/63		—		(40,369	)		(539	)		39,830
CMBX.NA.AAA.6		MSC		USD	989,528		0.50	%		05/11/63		—		(32,873	)		(310	)		32,563
CMBX.NA.AAA.6		GSC		USD	819,609		0.50	%		05/11/63		—		(27,569	)		(257	)		27,312
CMBX.NA.AAA.6		MSC		USD	3,468,347		0.50	%		05/11/63		—		(27,638	)		(1,089	)		26,549
CMBX.NA.AAA.6		MSC		USD	1,064,493		0.50	%		05/11/63		—		(25,011	)		(335	)		24,676
CMBX.NA.AAA.6		GSC		USD	609,709		0.50	%		05/11/63		—		(20,079	)		(192	)		19,887
CMBX.NA.AAA.6		MSC		USD	1,734,173		0.50	%		05/11/63		—		(14,321	)		(544	)		13,777
CMBX.NA.BB.6		MSC		USD	5,315,000		5.00	%		05/11/63		—		(983,643	)		(698,610	)		285,033
CMBX.NA.BB.6		CSI		USD	2,800,000		5.00	%		05/11/63		—		(518,164	)		(368,036	)		150,128
CMBX.NA.BB.6		CSI		USD	2,795,000		5.00	%		05/11/63		—		(517,238	)		(367,378	)		149,860
CMBX.NA.BB.6		CSI		USD	2,795,000		5.00	%		05/11/63		—		(517,238	)		(367,378	)		149,860
CMBX.NA.BB.6		CSI		USD	2,795,000		5.00	%		05/11/63		—		(517,238	)		(367,378	)		149,860
CMBX.NA.BB.6		GSC		USD	881,000		5.00	%		05/11/63		—		(102,868	)		(115,800	)		(12,932	)
CMBX.NA.BB.6		GSC		USD	2,855,000		5.00	%		05/11/63		—		(314,143	)		(375,264	)		(61,121	)
CMBX.NA.BB.8		MSC		USD	5,083,000		5.00	%		10/17/57		—		(1,432,970	)		(1,267,833	)		165,137
CMBX.NA.BB.8		CSI		USD	2,507,000		5.00	%		10/17/57		—		(706,712	)		(625,311	)		81,401
CMBX.NA.BB.8		CSI		USD	2,490,000		5.00	%		10/17/57		—		(701,920	)		(621,071	)		80,849
CMBX.NA.BB.8		GSC		USD	910,000		5.00	%		10/17/57		—		(278,905	)		(226,978	)		51,927
CMBX.NA.BB.8		MSC		USD	865,000		5.00	%		10/17/57		—		(250,719	)		(215,753	)		34,966
CMBX.NA.BB.8		CSI		USD	1,070,000		5.00	%		10/17/57		—		(301,628	)		(266,886	)		34,742
CMBX.NA.BB.8		GSC		USD	655,000		5.00	%		10/17/57		—		(195,086	)		(163,375	)		31,711
CMBX.NA.BB.8		MSC		USD	740,000		5.00	%		10/17/57		—		(214,175	)		(184,575	)		29,600
CMBX.NA.BB.8		GSC		USD	360,000		5.00	%		10/17/57		—		(101,024	)		(89,793	)		11,231
CMBX.NA.BB.8		JPM		USD	770,000		5.00	%		10/17/57		—		(171,387	)		(192,058	)		(20,671	)
CMBX.NA.BB.8		GSC		USD	915,000		5.00	%		10/17/57		—		(145,605	)		(228,226	)		(82,621	)
CMBX.NA.BB.8		GSC		USD	965,000		5.00	%		10/17/57		—		(97,902	)		(240,696	)		(142,794	)
CMBX.NA.BB.8		MLI		USD	1,350,000		5.00	%		10/17/57		—		(171,451	)		(336,726	)		(165,275	)
CMBX.NA.BB.8		GSC		USD	1,280,000		5.00	%		10/17/57		—		(149,633	)		(319,265	)		(169,632	)
CMBX.NA.BB.8		UBS		USD	1,455,000		5.00	%		10/17/57		—		(166,297	)		(362,915	)		(196,618	)
CMBX.NA.BB.8		BOA		USD	2,095,000		5.00	%		10/17/57		—		(145,445	)		(522,548	)		(377,103	)
CMBX.NA.BB.9		GSC		USD	1,350,000		5.00	%		09/15/58		—		(373,815	)		(295,244	)		78,571
CMBX.NA.BB.9		GSC		USD	675,000		5.00	%		09/15/58		—		(186,908	)		(147,622	)		39,286
CMBX.NA.BB.9		GSC		USD	675,000		5.00	%		09/15/58		—		(185,294	)		(147,622	)		37,672
CMBX.NA.BB.9		MLI		USD	675,000		5.00	%		09/17/58		—		(188,829	)		(147,622	)		41,207
CMBX.NA.BB.9		JPM		USD	720,000		5.00	%		09/17/58		—		(195,999	)		(157,464	)		38,535
CMBX.NA.BB.9		MLI		USD	665,000		5.00	%		09/17/58		—		(181,026	)		(145,435	)		35,591
CMBX.NA.BBB.6		MSC		USD	465,000		3.00	%		05/11/63		—		(41,209	)		(26,171	)		15,038
CMBX.NA.BBB.8		GSC		USD	2,850,000		3.00	%		10/17/57		—		(415,919	)		(402,289	)		13,630
PrimeX.ARM.2		MSC		USD	3,283,895		4.58	%		12/25/37		121,039		—			45,809			(75,230	)

Total											$	146,037	$	(15,809,414	)	$	(11,300,863	)	$	4,362,514

Total traded indices											$	10,645,186	$	(15,809,414	)	$	(2,852,607	)	$	2,311,621


		169

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


OTC Credit Default Swap Contracts Outstanding at December 31, 2016 - (continued)
Reference Entity	Counter- party		Notional Amount^(a)			(Pay)/Receive Fixed Rate/Implied Credit Spread^(b)		Expiration Date		Upfront Premiums Paid		Upfront Premiums Received			Market Value^†			Unrealized Appreciation/ (Depreciation)
Credit default swaps on single-name issues:
Sell protection:
Brazil (Federated Republic of)		GSC		USD	1,495,000		1.00%/2.74%		12/20/21	$	—	$	(121,502	)	$	(117,706	)	$	3,796
Brazil (Federated Republic of)		GSC		USD	1,490,000		1.00%/2.74%		12/20/21		—		(120,650	)		(117,312	)		3,338

Total										$	—	$	(242,152	)	$	(235,018	)	$	7,134

Total single-name issues										$	—	$	(242,152	)	$	(235,018	)	$	7,134

Total OTC contracts										$	10,645,186	$	(16,051,566	)	$	(3,087,625	)	$	2,318,755

^(a)	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

^(b)

Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues, U.S. municipal issues or sovereign government issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the reference entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. The percentage shown is the implied credit spread on December 31, 2016. For credit default swap agreements on indices, the quoted market prices and resulting values serve as the indicator of the current status of the payment/performance risk. Credit spreads are unaudited.


Centrally Cleared Credit Default Swap Contracts Outstanding at December 31, 2016
Reference Entity	Notional Amount^(a)			(Pay)/Receive Fixed Rate			Expiration Date		Cost Basis			Market Value^†			Unrealized Appreciation/ (Depreciation)
Credit default swaps on indices:
Buy protection:
CDX.NA.HY.27		USD	50,515,000		(5.00	%)		12/20/21	$	(1,774,633	)	$	(3,126,196	)	$	(1,351,563	)

Credit default swaps on indices:
Sell protection:
CDX.NA.HY.27		USD	11,409,000		5.00	%		12/20/21	$	678,096		$	706,062		$	27,966
CDX.NA.IG.27		USD	25,897,000		1.00	%		12/20/21		331,506			397,359			65,853
ITRAXX.EUR.26		EUR	36,290,000		1.00	%		12/20/21		389,617			525,350			135,733
ITRAXX.XOV.26		EUR	15,123,000		5.00	%		12/20/21		1,130,141			1,501,034			370,893

Total									$	2,529,360		$	3,129,805		$	600,445

Total									$	754,727		$	3,609		$	(751,118	)

^(a)	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.


OTC Interest Rate Swap Contracts Outstanding at December 31, 2016
Counterparty	Payments made by Fund	Payments received by Fund	Notional Amount		Expiration Date		Upfront Premiums Paid		Upfront Premiums Received		Market Value^†		Unrealized Appreciation/ (Depreciation)
BOA	1.81% Fixed	CPURNSA	USD	35,710,000		09/04/25	$	—	$	—	$	1,031,036	$	1,031,036
BOA	1.82% Fixed	CPURNSA	USD	39,085,000		09/22/25		—		—		1,107,612		1,107,612
GSC	CPURNSA	6.26% Fixed	INR	348,020,000		09/12/21		—		—		6,568		6,568

Total							$	—	$	—	$	2,145,216	$	2,145,216

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


		170

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Schedule of Investments – (continued)

December 31, 2016


Centrally Cleared Interest Rate Swap Contracts Outstanding at December 31, 2016
Payments made by Fund	Payments received by Fund	Notional Amount		Expiration Date		Upfront Premiums Paid		Upfront Premiums Received			Market Value^†		Unrealized Appreciation/ (Depreciation)
12M Federal Funds Rate	1.62% Fixed	USD	13,700,000		11/14/26	$	—	$	—		$	170,826	$	170,826
3M USD LIBOR	1.75% Fixed	USD	15,625,000		03/15/27		—		(442,500	)		885,292		1,327,792

Total						$	—	$	(442,500	)	$	1,056,118	$	1,498,618



Foreign Currency Contracts Outstanding at December 31, 2016
Currency	Buy / Sell	Delivery Date		Counterparty	Contract Amount		Market Value^†		Unrealized Appreciation/ (Depreciation)
BRL	Sell		03/15/17	GSC	$	2,532,431	$	2,590,575	$	(58,144	)
BRL	Sell		03/15/17	SSG		13,866,856		14,403,888		(537,032	)
COP	Sell		03/15/17	SSG		3,775,876		3,778,856		(2,980	)
EUR	Buy		03/15/17	BOA		962,014		887,602		(74,412	)
EUR	Buy		03/15/17	BOA		1,283,414		1,183,470		(99,944	)
EUR	Buy		03/15/17	CBK		2,369,850		2,255,990		(113,860	)
EUR	Buy		03/15/17	UBS		1,622,468		1,495,188		(127,280	)
EUR	Sell		01/31/17	NAB		544,217		543,011		1,206
EUR	Sell		01/31/17	BCLY		16,270,284		16,412,642		(142,358	)
EUR	Sell		03/15/17	BOA		5,923,641		5,822,249		101,392
EUR	Sell		03/15/17	MSC		4,501,927		4,451,748		50,179
GBP	Sell		01/31/17	BOA		3,604,469		3,588,193		16,276
JPY	Sell		01/11/17	CBK		26,563,632		23,548,585		3,015,047
MXN	Sell		03/15/17	JPM		4,734,909		4,536,848		198,061
RON	Sell		06/26/17	CBK		10,639,254		9,921,580		717,674
RON	Sell		08/28/17	JPM		3,319,296		3,029,985		289,311
RON	Sell		08/28/17	BNP		2,003,824		1,831,271		172,553
RUB	Sell		03/15/17	BCLY		5,086,057		5,373,493		(287,436	)
THB	Sell		03/15/17	JPM		6,566,751		6,527,706		39,045
TRY	Buy		03/15/17	GSC		2,229,453		2,217,390		(12,063	)
TRY	Buy		03/15/17	BCLY		2,275,699		2,217,111		(58,588	)
TRY	Sell		03/15/17	HSBC		982,832		893,596		89,236
TRY	Sell		03/15/17	BNP		977,654		888,574		89,080
TRY	Sell		03/15/17	BCLY		973,909		886,621		87,288
TRY	Sell		03/15/17	HSBC		961,112		884,668		76,444
TRY	Sell		03/15/17	JPM		947,057		881,041		66,016
ZAR	Sell		03/15/17	CBK		720		718		2

Total									$	3,494,713

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.

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


		171

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Counterparty Abbreviations:
BCLY		Barclays
BNP		BNP Paribas Securities Services
BOA		Banc of America Securities LLC
CBK		Citibank NA
CSI		Credit Suisse International
DEUT		Deutsche Bank Securities, Inc.
GSC		Goldman Sachs & Co.
HSBC		HSBC Bank USA
JPM		JP Morgan Chase & Co.
MLI		Merrill Lynch International
MSC		Morgan Stanley
NAB		National Australia Bank Limited
SSG		State Street Global Markets LLC
UBS		UBS AG

Currency Abbreviations:
BRL		Brazilian Real
COP		Colombian Peso
EUR		Euro
GBP		British Pound
INR		Indian Rupee
JPY		Japanese Yen
MXN		Mexican Peso
RON		New Romanian Leu
RUB		Russian Ruble
THB		Thai Baht
TRY		Turkish Lira
USD		United States Dollar
ZAR		South African Rand


Index Abbreviations:
ABX.HE		Markit Asset Backed Security Home Equity
CDX.EM		Credit Derivatives Emerging Markets
CDX.NA.HY		Credit Derivatives North American High Yield
CDX.NA.IG		Credit Derivatives North American Investment Grade
CMBX.NA		Markit Commercial Mortgage Backed North American
CPURNSA		Consumer Price All Urban Non-Seasonally Adjusted
ITRAXX.EUR		Markit iTraxx - Europe
ITRAXX.XOV		Markit iTraxx Index - Europe Crossover
PrimeX.ARM		Markit PrimeX Adjustable Rate Mortgage Backed Security

Other Abbreviations:
CDO		Collateralized Debt Obligation
CLO		Collateralized Loan Obligation
CMO		Collateralized Mortgage Obligation
EM		Emerging Markets
FHLMC		Federal Home Loan Mortgage Corp.
FNMA		Federal National Mortgage Association
GNMA		Government National Mortgage Association
LIBOR		London Interbank Offered Rate
MSCI		Morgan Stanley Capital International
OTC		Over-the-Counter
TBA		To Be Announced

Municipal Abbreviations:
GO		General Obligation

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


		172

Hartford Total Return Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total			Level 1⁽¹⁾			Level 2⁽¹⁾			Level 3⁽¹⁾
Assets
Asset & Commercial Mortgage Backed Securities	$	751,054,884		$	—		$	742,301,884		$	8,753,000
Corporate Bonds		845,147,451			—			845,147,451			—
Foreign Government Obligations		103,786,326			—			103,786,326			—
Municipal Bonds		32,558,299			—			32,558,299			—
Senior Floating Rate Interests		127,389,016			—			127,389,016			—
U.S. Government Agencies		1,102,349,061			—			1,102,349,061			—
U.S. Government Securities		108,960,392			—			108,960,392			—
Common Stocks
Energy		611,219			465,646			—			145,573
Utilities		206,755			206,754			—			1
Preferred Stocks		2,725,095			2,725,095			—			—
Short-Term Investments		168,940,358			142,599,666			26,340,692			—
Purchased Options		13,338			—			13,338			—
Foreign Currency Contracts⁽²⁾		5,008,810			—			5,008,810			—
Futures Contracts⁽²⁾		1,053,726			1,053,726			—			—
Swaps - Credit Default⁽²⁾		6,707,797			—			6,707,797			—
Swaps - Interest Rate⁽²⁾		3,643,834			—			3,643,834			—

Total	$	3,260,156,361		$	147,050,887		$	3,104,206,900		$	8,898,574

Liabilities
Foreign Currency Contracts⁽²⁾	$	(1,514,097	)	$	—		$	(1,514,097	)	$	—
Futures Contracts⁽²⁾		(1,049,961	)		(1,049,961	)		—			—
Swaps - Credit Default⁽²⁾		(5,140,160	)		—			(5,140,160	)		—
TBA Sale Commitments		(142,038,159	)		—			(142,038,159	)		—

Total	$	(149,742,377	)	$	(1,049,961	)	$	(148,692,416	)	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

⁽²⁾	Derivative instruments (excluding purchased and written options, if applicable) are valued at the unrealized appreciation/depreciation on the investments.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Asset & Commercial Mortgage Backed Securities		Common Stocks		Total
Beginning balance	$	—	$	—	$	—
Purchases		8,753,000		124,644		8,877,644
Sales		—		—		—
Accrued discounts/(premiums)		—		—		—
Total realized gain/(loss)		—		—		—
Net change in unrealized appreciation/depreciation		—		20,930		20,930
Transfers into Level 3		—		—		—
Transfers out of Level 3		—		—		—

Ending balance	$	8,753,000	$	145,574	$	8,898,574

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $20,930.

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


		173

Hartford Ultrashort Bond HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 23.8%
			Asset-Backed-Automobile - 10.7%
			AmeriCredit Automobile Receivables
	$	765,039	1.26%, 04/08/2019	$	765,092
		1,022,722	1.26%, 11/08/2019		1,022,716
		1,226,376	1.42%, 10/08/2019		1,227,271
		505,000	1.46%, 05/10/2021		502,468
		337,876	1.52%, 06/10/2019		338,246
			Capital Auto Receivables Asset Trust
		105,922	0.99%, 10/20/2017		105,876
		2,200,000	1.62%, 03/20/2019		2,204,019
			CarMax Auto Owner Trust
		887,578	1.09%, 04/15/2019		887,477
		3,060,000	1.21%, 11/15/2019		3,053,927
		1,794,587	1.24%, 06/17/2019		1,794,788
		2,400,000	1.32%, 07/15/2019		2,399,841
		2,000,000	1.56%, 11/16/2020		2,000,761
			Chesapeake Funding LLC
		894,297	1.07%, 03/07/2026⁽¹⁾⁽²⁾		891,224
		1,545,000	1.67%, 03/15/2028⁽¹⁾⁽²⁾		1,555,645
			Chrysler Capital Auto Receivables Trust
		805,000	1.36%, 01/15/2020⁽²⁾		803,923
		2,000,000	1.76%, 12/16/2019⁽²⁾		2,006,317
			Enterprise Fleet Financing LLC
		52,939	0.87%, 09/20/2019⁽²⁾		52,900
		635,000	1.74%, 02/22/2022⁽²⁾		633,202
			Fifth Third Auto Trust
		1,750,000	1.42%, 03/16/2020		1,751,042
			Ford Credit Auto Lease Trust
		3,000,000	1.38%, 12/15/2018		3,002,861
			Ford Credit Auto Owner Trust
		262,586	0.95%, 08/15/2018		262,515
		2,335,000	1.04%, 09/15/2019		2,329,984
			GM Financial Automobile Leasing Trust
		957,631	1.28%, 10/22/2018		957,382
		2,945,000	1.53%, 09/20/2018		2,948,979
		590,000	1.61%, 12/20/2019		588,265
		1,010,000	1.68%, 12/20/2018		1,012,737
		2,000,000	Harley-Davidson Motorcycle Trust 1.41%, 06/15/2020		2,001,270
		1,745,000	Huntington Auto Trust 1.29%, 05/15/2019		1,744,387
		810,000	Hyundai Auto Lease Securitization Trust 1.52%, 10/15/2019⁽²⁾		810,139
		2,191,722	M&T Bank Automotive Receivables Trust 1.57%, 08/15/2018⁽²⁾		2,192,695
		1,060,000	Mercedes-Benz Auto Lease Trust 1.15%, 01/15/2019		1,058,706
		1,205,000	Mercedes-Benz Auto Receivables Trust 1.26%, 02/16/2021		1,195,304
			Nissan Auto Lease Trust
		1,258,338	1.18%, 12/15/2017		1,258,715
		2,939,293	1.22%, 08/15/2018		2,939,162
		3,000,000	1.29%, 03/16/2020		3,001,350
		1,315,000	Nissan Auto Receivables Owner Trust 1.05%, 04/15/2019		1,313,713
			Prestige Auto Receivables Trust
		1,635,000	1.46%, 07/15/2020⁽²⁾		1,632,221
		1,190,616	1.78%, 08/15/2019⁽²⁾		1,192,286
		450,000	Toyota Auto Receivables Owner Trust 1.30%, 04/15/2020		448,557
		1,840,000	Volkswagen Auto Loan Enhanced Trust 1.16%, 03/20/2020		1,837,805


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -23.8% - (continued)
			Asset-Backed-Automobile - 10.7% - (continued)
			Westlake Automobile Receivables Trust
	$	439,031	1.28%, 07/16/2018⁽²⁾	$	439,000
		1,245,000	1.57%, 06/17/2019⁽²⁾		1,246,090
			Wheels SPV LLC
		66,870	0.84%, 03/20/2023⁽²⁾		66,828
		420,000	1.59%, 05/20/2025⁽²⁾		418,572
			World Omni Auto Receivables Trust
		829,073	0.96%, 07/15/2019		828,574
		1,340,000	1.10%, 01/15/2020		1,337,006
			World Omni Automobile Lease Securitization Trust
		1,374,879	1.06%, 05/15/2018		1,373,956
		1,635,000	1.37%, 01/15/2020		1,635,790

					65,071,584

			Asset-Backed-Credit Card - 6.4%
		1,485,000	American Express Credit Account Master Trust 1.26%, 01/15/2020		1,485,939
		2,995,000	BA Credit Card Trust 1.08%, 06/15/2021⁽¹⁾		3,002,531
			Cabela’s Credit Card Master Note Trust
		1,085,000	1.05%, 03/16/2020⁽¹⁾		1,085,099
		1,785,000	1.78%, 06/15/2022		1,779,902
		2,500,000	Capital One Multi-Asset Execution Trust 1.15%, 02/15/2022⁽¹⁾		2,510,156
		2,480,000	CARDS II Trust 1.40%, 07/15/2021⁽¹⁾⁽²⁾		2,489,481
			Chase Issuance Trust
		6,000,000	1.12%, 11/16/2020⁽¹⁾		6,017,921
		2,250,000	1.27%, 07/15/2021		2,219,996
		2,045,000	Citibank Credit Card Issuance Trust 1.02%, 02/22/2019		2,044,921
		4,750,000	Evergreen Credit Card Trust 1.42%, 04/15/2020⁽¹⁾⁽²⁾		4,771,091
		3,125,000	Golden Credit Card Trust 1.20%, 03/15/2019⁽¹⁾⁽²⁾		3,123,986
			Synchrony Credit Card Master Note Trust
		2,855,000	1.60%, 04/15/2021		2,857,409
		3,500,000	1.61%, 11/15/2020		3,506,569
		2,380,000	Trillium Credit Card Trust II 1.48%, 05/26/2021⁽¹⁾⁽²⁾		2,386,010

					39,281,011

			Asset-Backed-Finance & Insurance - 5.2%
			Ally Master Owner Trust
		4,380,000	1.17%, 01/15/2019⁽¹⁾		4,380,463
		2,500,000	1.19%, 10/15/2019⁽¹⁾		2,507,343
		2,000,000	1.54%, 09/15/2019		2,002,845
		3,275,000	1.60%, 10/15/2019		3,280,057
			CNH Equipment Trust
		1,520,000	1.26%, 02/18/2020		1,517,736
		1,185,000	1.31%, 10/15/2019		1,185,100
			Ford Credit Floorplan Master Owner Trust
		2,105,000	1.10%, 02/15/2019⁽¹⁾		2,105,360
		1,745,000	1.23%, 07/15/2020⁽¹⁾		1,749,260
		1,380,000	1.30%, 08/15/2020⁽¹⁾		1,385,921
		1,150,000	GMF Floorplan Owner Revolving Trust 1.04%, 05/15/2020⁽¹⁾⁽²⁾		1,150,501

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


		174

Hartford Ultrashort Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 23.8% - (continued)
			Asset-Backed-Finance & Insurance - 5.2% - (continued)
			John Deere Owner Trust
	$	1,515,000	1.09%, 02/15/2019	$	1,513,257
		530,219	1.39%, 12/16/2019		530,253
			Kubota Credit Owner Trust
		719,075	1.16%, 05/15/2018⁽²⁾		719,100
		780,000	1.25%, 04/15/2019⁽²⁾		778,380
			New York City Tax Lien
		768,730	1.34%, 11/10/2028⁽²⁾		764,886
		687,223	1.47%, 11/10/2029⁽²⁾		687,911
		2,250,000	Verizon Owner Trust 1.42%, 01/20/2021⁽²⁾		2,234,341
		533,511	Volvo Financial Equipment LLC 0.82%, 04/16/2018⁽²⁾		533,165
		3,000,000	Wells Fargo Dealer Floorplan Master Note Trust 1.49%, 04/22/2019⁽¹⁾		3,003,444

					32,029,323

			Asset-Backed-Student Loan - 0.3%
		939,827	Navient Student Loan Trust 1.24%, 03/25/2066⁽¹⁾⁽²⁾		940,315
		1,112,104	SLM Student Loan Trust 1.00%, 01/25/2027⁽¹⁾		1,100,354

					2,040,669

			Commercial Mortgage-Backed Securities - 1.2%
			Community or Commercial Mortgage Trust
		1,130,000	1.50%, 03/15/2029⁽¹⁾⁽²⁾		1,125,083
		1,300,000	1.91%, 01/10/2046		1,304,379
		3,635,703	LB-UBS Commercial Mortgage Trust 6.11%, 04/15/2041⁽¹⁾		3,769,192
		425,410	Morgan Stanley Capital I Trust 2.11%, 03/15/2045		425,286
		390,852	WFRBS Commercial Mortgage Trust 2.19%, 04/15/2045		390,921

					7,014,861

			Total Asset & Commercial Mortgage Backed Securities (cost $145,556,006)	$	145,437,448

CORPORATE BONDS - 45.1%
			Agriculture - 0.6%
	$	2,000,000	BAT International Finance plc 1.47%, 06/15/2018⁽¹⁾⁽²⁾	$	2,000,384
		1,425,000	Reynolds American, Inc. 2.30%, 06/12/2018		1,434,033

					3,434,417

			Auto Manufacturers - 4.6%
		2,500,000	American Honda Finance Corp. 1.34%, 07/13/2018⁽¹⁾		2,508,345
			Daimler Finance North America LLC
		1,750,000	1.50%, 07/05/2019⁽²⁾		1,721,781
		2,000,000	1.65%, 05/18/2018⁽²⁾		1,996,300
			Ford Motor Credit Co. LLC
		2,150,000	1.66%, 01/17/2017⁽¹⁾		2,150,467
		2,000,000	1.72%, 12/06/2017		1,998,488
		2,500,000	1.78%, 03/12/2019⁽¹⁾		2,503,657
		1,500,000	Harley-Davidson Financial Services, Inc. 2.25%, 01/15/2019⁽²⁾		1,506,452


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 45.1% - (continued)
			Auto Manufacturers - 4.6% - (continued)
			Nissan Motor Acceptance Corp.
	$	1,375,000	1.49%, 03/03/2017⁽¹⁾⁽²⁾	$	1,376,218
		2,000,000	1.50%, 03/02/2018⁽²⁾		1,994,500
			PACCAR Financial Corp.
		1,000,000	1.40%, 05/18/2018		998,904
		1,500,000	1.55%, 12/06/2018⁽¹⁾		1,509,599
			Toyota Motor Credit Corp.
		2,000,000	1.13%, 05/16/2017		1,998,962
		1,850,000	1.19%, 01/12/2018⁽¹⁾		1,852,568
		1,250,000	1.20%, 04/06/2018		1,244,446
		3,000,000	Volkswagen Group of America Finance LLC 1.39%, 05/22/2018⁽¹⁾⁽²⁾		2,985,726

					28,346,413

			Beverages - 1.8%
		5,000,000	Anheuser-Busch InBev Finance, Inc. 1.29%, 02/01/2019⁽¹⁾		5,005,540
		6,000,000	Anheuser-Busch InBev Worldwide, Inc. 1.58%, 08/01/2018⁽¹⁾		6,036,846

					11,042,386

			Chemicals - 0.5%
		1,250,000	Air Liquide Finance S.A. 1.38%, 09/27/2019⁽²⁾		1,228,790
		2,000,000	Monsanto Co. 1.15%, 06/30/2017		1,998,496

					3,227,286

			Commercial Banks - 20.8%
		3,000,000	Australia & New Zealand Banking Group Ltd. 1.26%, 01/10/2017⁽¹⁾⁽²⁾		3,000,243
			Bank of America Corp.
		2,000,000	1.70%, 08/25/2017		2,002,674
		2,000,000	1.92%, 01/15/2019⁽¹⁾		2,017,894
		1,280,000	2.00%, 01/11/2018		1,282,945
		2,000,000	2.07%, 03/22/2018⁽¹⁾		2,013,462
		720,000	5.65%, 05/01/2018		754,389
			Bank of Montreal
		1,350,000	1.35%, 08/28/2018		1,343,601
		2,000,000	1.40%, 04/10/2018		1,994,834
		1,750,000	Bank of Nova Scotia 1.65%, 06/14/2019		1,733,963
		2,000,000	Bank of Tokyo-Mitsubishi UFJ Ltd. 1.26%, 09/08/2017⁽¹⁾⁽²⁾		1,998,040
		2,815,000	Barclays Bank plc 1.49%, 02/17/2017⁽¹⁾		2,815,966
			BB&T Corp.
		2,500,000	1.55%, 02/01/2019⁽¹⁾		2,510,695
		1,500,000	1.57%, 06/15/2020⁽¹⁾		1,501,944
		6,000,000	BPCE S.A. 1.73%, 02/10/2017⁽¹⁾		6,005,034
		4,000,000	Citigroup, Inc. 1.64%, 04/08/2019⁽¹⁾		4,004,864
		2,000,000	Commonwealth Bank of Australia 1.52%, 11/07/2019⁽¹⁾⁽²⁾		2,000,902
			Credit Agricole S.A.
		1,775,000	1.50%, 06/12/2017⁽¹⁾⁽²⁾		1,777,128
		2,500,000	1.92%, 06/10/2020⁽¹⁾⁽²⁾		2,508,540
			Credit Suisse AG
		1,700,000	1.38%, 05/26/2017		1,700,394
		2,250,000	1.57%, 04/27/2018⁽¹⁾		2,249,048
		2,250,000	1.70%, 04/27/2018		2,245,041

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


		175

Hartford Ultrashort Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 45.1% - (continued)
			Commercial Banks - 20.8% - (continued)
	$	2,000,000	Danske Bank A/S 1.53%, 09/06/2019⁽¹⁾⁽²⁾	$	2,001,300
			Deutsche Bank AG London
		2,000,000	1.35%, 05/30/2017		1,995,668
		2,000,000	1.51%, 02/13/2017⁽¹⁾		1,999,524
			Fifth Third Bank
		2,350,000	1.59%, 09/27/2019⁽¹⁾		2,350,623
		2,000,000	1.82%, 08/20/2018⁽¹⁾		2,012,824
			Goldman Sachs Group, Inc.
		2,000,000	2.04%, 04/23/2020⁽¹⁾		2,019,112
		1,000,000	2.09%, 04/30/2018⁽¹⁾		1,008,710
		3,500,000	2.24%, 11/15/2021⁽¹⁾		3,518,914
		3,000,000	HSBC Bank plc 1.55%, 05/15/2018⁽¹⁾⁽²⁾		3,001,014
		1,000,000	Huntington National Bank 1.31%, 04/24/2017⁽¹⁾		1,000,149
			ING Bank N.V.
		2,300,000	1.52%, 03/16/2018⁽¹⁾⁽²⁾		2,303,825
		1,000,000	1.65%, 08/15/2019⁽²⁾		986,474
			JP Morgan Chase & Co.
		1,500,000	1.44%, 03/01/2018⁽¹⁾		1,502,792
		3,000,000	1.52%, 01/28/2019⁽¹⁾		3,009,633
			KeyBank NA
		1,600,000	1.45%, 06/01/2018⁽¹⁾		1,601,994
		1,000,000	1.60%, 08/22/2019		986,306
			Manufacturers & Traders Trust Co.
		3,000,000	1.26%, 01/30/2017⁽¹⁾		3,000,717
		1,500,000	1.40%, 07/25/2017		1,500,792
			Morgan Stanley
		3,000,000	1.73%, 01/24/2019⁽¹⁾		3,018,720
		1,275,000	5.95%, 12/28/2017		1,327,058
		3,000,000	Nordea Bank AB 1.36%, 04/04/2017⁽¹⁾⁽²⁾		3,002,172
			PNC Bank NA
		2,000,000	1.45%, 07/29/2019		1,972,790
		870,000	1.70%, 12/07/2018		868,425
		3,000,000	Royal Bank of Canada 1.21%, 01/23/2017⁽¹⁾		3,000,540
		2,000,000	Santander Bank NA 1.80%, 01/12/2018⁽¹⁾		2,001,250
			Santander UK plc
		1,500,000	1.41%, 09/29/2017⁽¹⁾		1,497,369
		2,500,000	1.78%, 08/24/2018⁽¹⁾		2,504,155
		3,000,000	Societe Generale S.A. 2.08%, 10/01/2018⁽¹⁾		3,025,572
		2,000,000	Standard Chartered plc 1.52%, 04/17/2018⁽¹⁾⁽²⁾		1,992,332
			Sumitomo Mitsui Banking Corp.
		3,000,000	1.31%, 01/10/2017⁽¹⁾		3,000,150
		1,250,000	1.55%, 10/19/2018⁽¹⁾		1,254,151
		3,000,000	SunTrust Banks, Inc. 1.35%, 02/15/2017⁽¹⁾		3,000,333
		1,665,000	Svenska Handelsbanken AB 1.44%, 09/06/2019⁽¹⁾		1,665,000
			Toronto-Dominion Bank
		3,000,000	1.12%, 05/02/2017⁽¹⁾		3,001,140
		2,250,000	1.45%, 08/13/2019		2,217,667
		875,000	U.S. Bancorp 1.40%, 11/15/2018⁽¹⁾		876,897
		1,500,000	UBS AG 1.70%, 03/26/2018⁽¹⁾		1,504,989


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 45.1% - (continued)
			Commercial Banks - 20.8% - (continued)
			Wells Fargo Bank NA
	$	2,000,000	1.60%, 12/06/2019⁽¹⁾	$	2,004,852
		1,500,000	1.65%, 01/22/2018		1,499,960

					127,497,494

			Commercial Services - 0.2%
		1,370,000	Catholic Health Initiatives 1.60%, 11/01/2017		1,375,994

			Diversified Financial Services - 2.8%
			American Express Credit Corp.
		1,500,000	1.13%, 06/05/2017		1,499,764
		2,500,000	1.54%, 03/18/2019⁽¹⁾		2,504,770
		1,500,000	Capital One Bank USA NA 1.30%, 06/05/2017		1,498,934
			General Electric Co.
		2,000,000	1.19%, 05/15/2017⁽¹⁾		2,001,574
		3,000,000	1.71%, 04/02/2018⁽¹⁾		3,021,618
		3,750,000	Macquarie Group Ltd. 1.89%, 01/31/2017⁽¹⁾⁽²⁾		3,752,786
		1,465,000	Protective Life Global Funding 1.72%, 04/15/2019⁽²⁾		1,453,279
		1,700,000	Synchrony Financial 2.11%, 02/03/2020⁽¹⁾		1,680,763

					17,413,488

			Electric - 0.3%
		905,000	Exelon Corp. 1.55%, 06/09/2017		903,353
		1,080,000	Pacific Gas & Electric Co. 1.13%, 11/30/2017⁽¹⁾		1,080,342

					1,983,695

			Electronics - 0.3%
		2,000,000	Honeywell International, Inc. 1.17%, 10/30/2019⁽¹⁾		2,003,120

			Healthcare-Products - 0.6%
		1,820,000	Medtronic, Inc. 1.50%, 03/15/2018		1,820,027
		1,750,000	Zimmer Biomet Holdings, Inc. 1.45%, 04/01/2017		1,750,422

					3,570,449

			Healthcare-Services - 0.9%
		2,500,000	Roche Holdings, Inc. 1.34%, 09/30/2019⁽¹⁾⁽²⁾		2,502,225
		2,700,000	UnitedHealth Group, Inc. 1.33%, 01/17/2017⁽¹⁾		2,700,467

					5,202,692

			Home Furnishings - 0.4%
		2,645,000	Whirlpool Corp. 1.35%, 03/01/2017		2,645,513

			Insurance - 2.8%
		2,000,000	Berkshire Hathaway, Inc. 1.15%, 08/15/2018		1,989,962
		1,500,000	MassMutual Global Funding II 1.55%, 10/11/2019⁽²⁾		1,482,260
		2,460,000	Metropolitan Life Global Funding I 1.75%, 12/19/2018⁽²⁾		2,460,841
		3,500,000	New York Life Global Funding 1.13%, 03/01/2017⁽²⁾		3,499,765

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


		176

Hartford Ultrashort Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 45.1% - (continued)
			Home Furnishings - 0.4% - (continued)
	$	2,000,000	Principal Life Global Funding II 1.13%, 02/24/2017⁽²⁾	$	1,999,904
		1,450,000	1.20%, 05/19/2017⁽²⁾		1,449,867
		4,000,000	Prudential Financial, Inc. 1.69%, 08/15/2018⁽¹⁾		4,013,952

					16,896,551

			IT Services - 0.6%
		3,500,000	Hewlett Packard Enterprise Co. 2.45%, 10/05/2017		3,519,460

			Machinery-Construction & Mining - 0.4%
		2,175,000	Caterpillar Financial Services Corp. 1.17%, 03/03/2017⁽¹⁾		2,176,007

			Media - 1.2%
		3,000,000	NBCUniversal Enterprise, Inc. 1.57%, 04/15/2018⁽¹⁾⁽²⁾		3,018,453
		3,000,000	Thomson Reuters Corp. 1.30%, 02/23/2017		3,000,126
		1,315,000	Walt Disney Co. 0.88%, 07/12/2019		1,288,566

					7,307,145

			Oil & Gas - 2.4%
		4,000,000	BP Capital Markets plc 1.63%, 09/26/2018⁽¹⁾		4,015,204
		2,345,000	1.67%, 02/13/2018		2,347,369
		3,000,000	ConocoPhillips Co. 1.24%, 05/15/2018⁽¹⁾		2,991,180
		2,500,000	Exxon Mobil Corp. 1.44%, 03/01/2018		2,503,005
		3,000,000	Statoil ASA 1.34%, 11/08/2018⁽¹⁾		3,003,615

					14,860,373

			Oil & Gas Services - 0.3%
		1,800,000	Schlumberger Holdings Corp. 1.90%, 12/21/2017⁽²⁾		1,806,773

			Pharmaceuticals - 2.5%
		2,000,000	Actavis Funding SCS 1.30%, 06/15/2017		1,998,916
		4,700,000	2.03%, 03/12/2018⁽¹⁾		4,727,302
		1,750,000	Baxalta, Inc. 1.78%, 06/22/2018⁽¹⁾		1,750,432
		2,000,000	Bayer US Finance LLC 1.14%, 10/06/2017⁽¹⁾⁽²⁾		1,996,912
		1,500,000	Express Scripts Holding Co. 1.25%, 06/02/2017		1,494,422
		3,300,000	McKesson Corp. 1.29%, 03/10/2017		3,300,795

					15,268,779

			Pipelines - 0.3%
		1,800,000	Enbridge, Inc. 1.38%, 06/02/2017⁽¹⁾		1,800,167

			REITS - 0.1%
		570,000	Ventas Realty L.P. 1.25%, 04/17/2017		569,735

			Retail - 0.2%
		1,500,000	CVS Health Corp. 1.90%, 07/20/2018		1,505,765


Shares or Principal Amount				Market Value^†
CORPORATE BONDS - 45.1% - (continued)
			Software - 0.1%
	$	405,000	Fidelity National Information Services, Inc. 1.45%, 06/05/2017	$	405,160

			Telecommunications - 0.2%
		1,190,000	British Telecommunications plc 1.25%, 02/14/2017		1,190,061

			Trucking & Leasing - 0.2%
		1,145,000	GATX Corp. 1.25%, 03/04/2017		1,144,685


			Total Corporate Bonds (cost $276,100,972)	$	276,193,608

FOREIGN GOVERNMENT OBLIGATIONS - 0.5%
			Switzerland - 0.5%
	$	3,200,000	Credit Suisse NY 1.75%, 11/14/2017	$	3,200,199


			Total Foreign Government Obligations (cost $3,200,000)	$	3,200,199

MUNICIPAL BONDS - 0.3%
			General - 0.3%
	$	1,750,000	State of Illinois 5.13%, 07/01/2017	$	1,777,877


			Total Municipal Bonds (cost $1,778,915)	$	1,777,877

U.S. GOVERNMENT AGENCIES - 13.5%
			FFCB - 5.1%
	$	25,000,000	0.67%, 10/18/2017	$	24,973,850
		6,000,000	0.90%, 06/08/2017		6,004,722

					30,978,572

			FHLB - 2.4%
		15,000,000	0.75%, 09/08/2017		14,992,620

			FHLMC - 6.0%
		1,500,000	0.75%, 05/25/2017		1,500,708
		20,000,000	0.88%, 02/22/2017		20,008,960
		15,000,000	1.00%, 09/29/2017		15,014,535

					36,524,203


			Total U.S. Government Agencies (cost $82,525,764)	$	82,495,395

U.S. GOVERNMENT SECURITIES - 16.0%
			Other Direct Federal Obligations - 12.1%
			FHLB - 12.1%
	$	10,000,000	0.75%, 02/13/2017	$	10,002,490
		5,000,000	0.63%, 04/26/2017		4,999,430
		31,800,000	1.00%, 06/09/2017		31,842,962
		26,955,000	0.88%, 05/24/2017		26,968,612

					73,813,494

					73,813,494

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


		177

Hartford Ultrashort Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT SECURITIES - 16.0% - (continued)
			U.S. Treasury Securities - 3.9%
			U.S. Treasury Notes - 3.9%
	$	10,000,000	0.75%, 10/31/2017	$	9,991,020
		14,000,000	0.75%, 01/31/2018		13,970,474

					23,961,494

					23,961,494


			Total U.S. Government Securities (cost $97,798,697)	$	97,774,988


			Total Long-Term Investments (cost $606,960,354)	$	606,879,515


SHORT-TERM INVESTMENTS - 0.7%
			Other Investment Pools & Funds - 0.7%
		4,368,377	Fidelity Institutional Government Fund, Institutional Class	$	4,368,377


			Total Short-Term Investments (cost $4,368,377)	$	4,368,377



Total Investments (cost $611,328,731)^{^}	99.9	%	$	611,247,892
Other Assets and Liabilities	0.1	%		501,405

Total Net Assets	100.0	%	$	611,749,297

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


		178

Hartford Ultrashort Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $611,328,731 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	533,800
Unrealized Depreciation		(614,639	)

Net Unrealized Depreciation	$	(80,839	)

⁽¹⁾	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2016.

⁽²⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $100,450,478, which represents 16.4% of total net assets.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
FFCB		Federal Farm Credit Bank
FHLB		Federal Home Loan Bank
FHLMC		Federal Home Loan Mortgage Corp.

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


		179

Hartford Ultrashort Bond HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Asset & Commercial Mortgage Backed Securities	$	145,437,448	$	—	$	145,437,448	$	—
Corporate Bonds		276,193,608		—		276,193,608		—
Foreign Government Obligations		3,200,199		—		3,200,199		—
Municipal Bonds		1,777,877		—		1,777,877		—
U.S. Government Agencies		82,495,395		—		82,495,395		—
U.S. Government Securities		97,774,988		—		97,774,988		—
Short-Term Investments		4,368,377		4,368,377		—		—

Total	$	611,247,892	$	4,368,377	$	606,879,515	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

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


		180

Hartford U.S. Government Securities HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 18.3%
			Asset-Backed-Automobile - 0.8%
	$	149,585	Drive Auto Receivables Trust 2.12%, 06/17/2019⁽¹⁾	$	149,746
		3,350,000	Westlake Automobile Receivables Trust 3.40%, 01/15/2021⁽¹⁾		3,362,239

					3,511,985

			Asset-Backed-Finance & Insurance - 6.7%
			Ares CLO Ltd.
		4,755,000	2.33%, 04/20/2023⁽¹⁾⁽²⁾		4,724,202
		3,135,000	2.40%, 04/17/2026⁽¹⁾⁽²⁾		3,141,386
			Cent CLO Ltd.
		1,530,000	2.00%, 07/23/2025⁽¹⁾⁽²⁾		1,526,198
		1,000,000	2.28%, 07/27/2026⁽¹⁾⁽²⁾		999,494
		4,085,000	Dryden Senior Loan Fund 2.23%, 04/18/2026⁽¹⁾⁽²⁾		4,085,229
		695,000	Ford Credit Floorplan Master Owner Trust 2.32%, 01/15/2019		695,271
		580,000	Green Tree Agency Advance Funding Trust 2.38%, 10/15/2048⁽¹⁾		575,285
		1,700,000	Limerock CLO Ltd. 2.38%, 04/18/2026⁽¹⁾⁽²⁾		1,699,611
		3,400,000	Madison Park Funding Ltd. 2.16%, 10/23/2025⁽¹⁾⁽²⁾		3,404,158
		1,285,000	Shackleton CLO Ltd. 2.92%, 04/15/2027^(1)(2)(3)		1,285,000
			Springleaf Funding Trust
		912,725	2.41%, 12/15/2022⁽¹⁾		913,061
		4,720,000	3.16%, 11/15/2024⁽¹⁾		4,757,288
		893,536	Structured Asset Securities Corp. 2.26%, 02/25/2033⁽²⁾		887,147
		1,370,000	Voya CLO Ltd. 2.33%, 07/17/2026⁽¹⁾⁽²⁾		1,370,948

					30,064,278

			Asset-Backed-Home Equity - 1.0%
		904,116	Morgan Stanley Asset Backed Securities Capital I, Inc. Trust 2.26%, 11/25/2032⁽²⁾		891,932
		3,606,000	NRZ Advance Receivables Trust 2.58%, 10/15/2049⁽¹⁾		3,568,321

					4,460,253

			Commercial Mortgage-Backed Securities - 1.9%
			FREMF Mortgage Trust
		460,000	3.08%, 03/25/2045⁽¹⁾⁽²⁾		460,678
		1,500,000	3.81%, 08/25/2045⁽¹⁾⁽²⁾		1,537,893
		2,645,000	3.82%, 06/25/2047⁽¹⁾⁽²⁾		2,713,074
		1,665,000	4.17%, 11/25/2044⁽¹⁾⁽²⁾		1,714,532
		1,990,000	5.63%, 04/25/2020⁽¹⁾⁽²⁾		2,160,888

					8,587,065

			Whole Loan Collateral CMO - 7.9%
		1,469,060	COLT Mortgage Loan Trust 2.75%, 09/25/2046⁽¹⁾⁽²⁾		1,476,764
			LSTAR Securities Investment Trust
		1,072,910	2.62%, 04/01/2020⁽¹⁾⁽²⁾		1,070,898
		2,374,827	2.62%, 10/01/2021⁽¹⁾⁽²⁾		2,348,783
		3,733,826	2.77%, 05/01/2020⁽¹⁾⁽²⁾		3,709,590
		3,185,987	2.77%, 08/01/2020⁽¹⁾⁽²⁾		3,161,843
		784,920	Mill City Mortgage Loan Trust 2.50%, 04/25/2057⁽¹⁾⁽²⁾		781,373


Shares or Principal Amount				Market Value^†
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES - 18.3% - (continued)
			Whole Loan Collateral CMO - 7.9% - (continued)
			New Residential Mortgage Loan Trust
	$	1,640,611	3.25%, 09/25/2056⁽¹⁾⁽²⁾	$	1,659,396
		2,168,685	3.75%, 03/25/2056⁽¹⁾⁽²⁾		2,200,227
		1,566,117	Sequoia Mortgage Trust 1.20%, 02/20/2035⁽²⁾		1,532,282
		2,151,666	Thornburg Mortgage Securities Trust 2.63%, 04/25/2045⁽²⁾		2,156,838
			Towd Point Mortgage Trust
		2,209,122	2.75%, 02/25/2055⁽¹⁾⁽²⁾		2,204,251
		2,076,228	2.75%, 04/25/2055⁽¹⁾⁽²⁾		2,082,045
		100,908	2.75%, 05/25/2055⁽¹⁾⁽²⁾		101,152
		592,703	2.75%, 08/25/2055⁽¹⁾⁽²⁾		589,431
		2,538,568	3.00%, 03/25/2054⁽¹⁾⁽²⁾		2,565,241
		2,399,000	3.75%, 04/25/2055⁽¹⁾⁽²⁾		2,345,991
			WaMu Mortgage Pass-Through Certificates
		1,862,308	2.50%, 03/25/2033⁽²⁾		1,861,670
		2,053,687	2.75%, 10/25/2035⁽²⁾		1,994,693
		1,588,880	Wells Fargo Mortgage Backed Securities Trust 2.88%, 09/25/2033⁽²⁾		1,574,862

					35,417,330


			Total Asset & Commercial Mortgage Backed Securities (cost $81,694,768)	$	82,040,911



U.S. GOVERNMENT AGENCIES - 72.9%
			FHLMC - 32.9%
	$	4,346,615	1.14%, 04/25/2020⁽²⁾	$	4,341,736
		9,515,709	1.57%, 01/25/2022		9,450,755
		8,375,000	3.00%, 01/01/2032⁽⁴⁾		8,593,582
		791,235	3.00%, 03/15/2033⁽⁵⁾		98,794
		4,656,220	3.00%, 11/01/2036		4,711,988
		188,444	3.00%, 09/01/2045		187,328
		703,530	3.00%, 10/01/2046		699,753
		53,047,171	3.00%, 12/01/2046		52,729,516
		10,600,000	3.00%, 01/01/2047⁽⁴⁾		10,525,529
		6,205,000	3.50%, 11/15/2025		6,533,140
		13,900,000	3.50%, 01/01/2047⁽⁴⁾		14,232,806
		520,451	4.00%, 07/15/2027⁽⁵⁾		58,257
		384,694	4.00%, 06/01/2044		404,329
		42,120	4.50%, 12/01/2018		43,214
		3,246,470	4.50%, 02/15/2027⁽⁵⁾		375,109
		3,333,082	4.50%, 05/15/2034		3,504,963
		18,400,000	4.50%, 01/01/2047⁽⁴⁾		19,750,060
		7,251	5.50%, 06/01/2034		8,150
		48,833	5.50%, 10/01/2035		54,800
		76,091	5.50%, 04/01/2037		84,314
		1,003,413	5.50%, 12/01/2037		1,119,520
		392,544	5.50%, 04/01/2038		438,068
		23,775	5.50%, 05/01/2038		26,458
		1,943,098	5.50%, 08/01/2038		2,165,157
		3,787	5.50%, 12/01/2039		4,218
		51,247	6.00%, 10/01/2021		57,895
		68,466	6.00%, 10/01/2022		77,348
		96,064	6.00%, 01/01/2028		109,678
		25,744	6.00%, 04/15/2028		29,185
		53,808	6.00%, 05/15/2028⁽⁶⁾		60,098
		64,171	6.00%, 11/15/2028		72,842
		117,120	6.00%, 12/15/2028		133,142
		258,276	6.00%, 01/15/2029		294,668
		58,065	6.00%, 02/15/2029		66,189

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


		181

Hartford U.S. Government Securities HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 72.9% - (continued)
			FHLMC - 32.9% - (continued)
	$	70,079	6.00%, 03/15/2029	$	79,585
		40,284	6.00%, 05/15/2029		46,001
		10,256	6.00%, 06/15/2029		11,429
		2,785	6.00%, 03/15/2031		3,189
		115,899	6.00%, 04/15/2031		131,867
		56,818	6.00%, 10/15/2031		64,145
		64,851	6.00%, 12/01/2031		74,426
		414,369	6.00%, 12/15/2031⁽⁶⁾		473,524
		506,124	6.00%, 12/15/2031		578,077
		19,969	6.00%, 05/15/2032		22,662
		1,117,677	6.00%, 06/15/2032		1,268,694
		976,241	6.00%, 09/15/2032		1,092,296
		89,118	6.00%, 10/15/2032		102,616
		689	6.00%, 11/01/2032		790
		62,695	6.00%, 11/15/2032		70,293
		15,784	6.00%, 04/01/2033		17,832
		23,629	6.00%, 09/01/2034		27,210
		914	6.50%, 02/01/2017		915
		7,969	6.50%, 04/01/2028		9,000
		365,751	6.50%, 08/15/2028		400,819
		920,406	6.50%, 05/15/2032		1,042,873
		127,608	6.50%, 08/01/2032		146,594
		285,164	6.50%, 09/01/2032		331,295
		26,953	7.00%, 10/01/2026		28,037
		4,799	7.00%, 03/01/2027		5,263
		4,346	7.00%, 12/01/2027		4,484
		1,300	7.00%, 02/01/2029		1,518
		806	7.00%, 05/01/2029		919
		1,677	7.00%, 09/01/2029		1,828
		679	7.00%, 02/01/2031		798
		100,328	7.00%, 04/01/2032		117,484
		61,464	7.00%, 05/01/2032		63,108
		70,038	7.00%, 06/01/2032		82,704
		123,647	7.00%, 11/01/2032		141,118
		3,542	7.50%, 05/01/2024		4,036
		567	7.50%, 06/01/2024		575
		1,283	7.50%, 06/01/2025		1,369
		5,644	8.00%, 08/01/2024		5,854
		5,371	8.00%, 09/01/2024		5,591
		7,759	8.00%, 10/01/2024		8,111
		644	10.00%, 11/01/2020		647

					147,512,165

			FNMA - 38.5%
		4,404,946	1.97%, 08/25/2044⁽²⁾⁽⁵⁾		284,974
		6,400,000	1.97%, 11/01/2023		6,194,142
		698,923	2.05%, 11/01/2023		681,217
		2,623,747	2.09%, 06/25/2055⁽²⁾⁽⁵⁾		174,594
		3,468,821	2.22%, 10/01/2022		3,436,279
		2,300,000	2.23%, 11/01/2023		2,253,969
		6,182,888	2.25%, 10/01/2022		6,123,301
		3,493,850	2.31%, 10/01/2022		3,473,567
		139,212	2.34%, 11/01/2022		138,597
		144,209	2.40%, 10/01/2022		143,464
		200,000	2.45%, 11/01/2022		198,868
		17,800,000	2.50%, 01/01/2032⁽⁴⁾		17,828,160
		28,893	2.50%, 01/01/2043		27,636
		285,842	2.50%, 01/01/2046		272,250
		3,721,230	2.50%, 05/01/2046		3,544,263
		2,157,575	2.50%, 06/01/2046		2,054,984
		273,187	2.50%, 07/01/2046		260,195


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 72.9% - (continued)
			FNMA - 38.5% - (continued)
	$	1,251,872	2.50%, 08/01/2046	$	1,192,334
		7,084,369	2.50%, 09/01/2046		6,747,436
		100,000	2.50%, 01/01/2047⁽⁴⁾		95,135
		280,240	2.54%, 03/01/2023		280,023
		1,995,634	2.56%, 01/01/2019⁽⁷⁾		2,026,703
		2,500,000	2.68%, 05/01/2025		2,463,323
		104,511	2.74%, 04/01/2022		107,213
		91,430	2.83%, 06/01/2022		93,618
		250,000	2.94%, 06/01/2022		255,980
		2,395,260	3.00%, 07/25/2027⁽⁵⁾		216,795
		815,141	3.00%, 09/25/2027⁽⁵⁾		76,279
		3,388,946	3.00%, 01/01/2030		3,480,709
		88,721	3.00%, 12/01/2030		91,123
		5,925,000	3.00%, 01/01/2032⁽⁴⁾		6,080,068
		185,529	3.02%, 04/01/2022		191,502
		7,640,559	3.11%, 10/01/2021		7,915,249
		1,900,000	3.21%, 05/01/2023		1,961,734
		595,553	3.25%, 12/01/2021		620,283
		444,041	3.26%, 01/01/2022		462,778
		268,964	3.41%, 11/01/2020		281,006
		189,481	3.46%, 09/01/2023		197,411
		225,749	3.50%, 11/01/2020		237,182
		5,453,517	3.50%, 04/25/2027⁽⁵⁾		600,750
		1,534,087	3.50%, 10/25/2027⁽⁵⁾		175,417
		15,052,846	3.50%, 04/25/2044		15,575,085
		2,123,127	3.50%, 02/01/2045		2,177,511
		4,317,738	3.50%, 01/01/2046		4,429,021
		501,470	3.51%, 11/01/2021		527,429
		1,035,050	3.59%, 09/01/2030		1,072,287
		1,793,402	3.65%, 11/01/2021		1,897,312
		205,566	3.65%, 08/01/2023		217,338
		1,240,884	3.73%, 07/01/2022		1,317,280
		6,732,263	3.74%, 06/01/2018		6,862,731
		1,044,136	3.75%, 09/01/2023		1,104,651
		95,591	3.81%, 11/01/2023		101,535
		192,947	3.83%, 07/01/2021		205,713
		288,720	3.85%, 01/01/2024		307,591
		383,950	3.87%, 01/01/2024		409,469
		389,553	3.89%, 10/01/2023		412,801
		2,700,000	3.98%, 07/01/2021		2,889,099
		181,756	3.99%, 07/01/2021		194,569
		2,051,941	4.00%, 11/01/2044		2,158,035
		23,975,000	4.00%, 01/01/2047⁽⁴⁾		25,205,124
		550,355	4.01%, 08/01/2021		590,168
		1,869,732	4.50%, 10/01/2040		2,015,004
		843,512	4.50%, 10/01/2041		908,920
		2,388,437	4.50%, 01/01/2043		2,574,511
		714,257	4.50%, 09/01/2043		768,952
		2,336,671	4.50%, 08/01/2044		2,516,031
		48,191	5.00%, 08/01/2018		49,361
		131,108	5.00%, 10/01/2018		134,176
		182,374	5.00%, 06/01/2025		195,527
		270,997	5.24%, 07/01/2019		291,359
		505,168	5.46%, 05/25/2042⁽²⁾⁽⁵⁾		58,845
		9,143	5.50%, 10/01/2017		9,255
		8,194	5.50%, 12/01/2017		8,281
		50,441	5.50%, 04/01/2018		51,087
		34,902	5.50%, 06/01/2018		35,410
		3,721	5.50%, 07/01/2018		3,795
		707,961	5.50%, 08/01/2019		736,832
		284,132	6.00%, 10/01/2023		321,447

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


		182

Hartford U.S. Government Securities HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 72.9% - (continued)
			FNMA - 38.5% - (continued)
	$	36,907	6.00%, 10/25/2028	$	41,768
		13,901	6.00%, 11/25/2028		15,769
		53,972	6.00%, 04/25/2029		60,423
		891	6.00%, 05/01/2029		1,013
		44,020	6.00%, 05/25/2029		49,814
		37,051	6.00%, 06/25/2029		41,943
		83,223	6.00%, 07/25/2029		94,266
		435,462	6.00%, 05/25/2031⁽⁶⁾		495,701
		146,088	6.00%, 09/25/2031		166,710
		34,025	6.00%, 11/25/2031		38,559
		573,614	6.00%, 12/25/2031		641,370
		244,799	6.00%, 01/01/2032		279,246
		265	6.00%, 04/01/2032		300
		452	6.00%, 05/01/2032		518
		2,219	6.00%, 09/25/2032		2,416
		98,613	6.00%, 11/01/2032		111,620
		55,682	6.00%, 02/01/2033		63,795
		311,153	6.00%, 03/01/2033		357,624
		1,019,275	6.00%, 05/01/2033		1,170,448
		8,287	6.00%, 08/01/2034		9,383
		174,092	6.00%, 01/01/2035		198,334
		3,384,646	6.00%, 02/01/2037		3,838,529
		41	6.50%, 04/01/2024		46
		218	6.50%, 04/01/2027		246
		17,049	6.50%, 04/01/2028		19,288
		136	6.50%, 05/01/2028		154
		9,056	6.50%, 10/01/2028		10,313
		158,217	6.50%, 11/01/2028		179,934
		94,332	6.50%, 12/01/2028		108,017
		454,613	6.50%, 06/25/2029⁽⁶⁾		495,700
		279,521	6.50%, 08/01/2029		316,241
		928	6.50%, 11/01/2030		1,050
		6,304	6.50%, 05/01/2031		7,293
		230,411	6.50%, 10/25/2031		255,853
		1,483,898	6.50%, 08/01/2032		1,720,469
		55,648	6.50%, 09/01/2032		62,958
		5,720	7.00%, 06/01/2017		5,744
		932	7.00%, 11/01/2031		981
		341	7.00%, 12/01/2031		350
		271,313	7.00%, 02/01/2032		314,960
		9,129	7.50%, 06/01/2023		10,122
		2,379	8.00%, 10/01/2029		2,814
		109	8.00%, 03/01/2030		112
		7,914	8.00%, 04/01/2030		9,323
		29	8.00%, 06/01/2030		29
		18,655	8.00%, 10/01/2030		21,851
		27,672	8.00%, 12/01/2030		31,444
		45	8.50%, 04/01/2017		45
		206	9.00%, 08/01/2020		220
		19,054	9.00%, 09/01/2021		19,193

					172,548,352

			GNMA - 1.5%
		299,624	4.00%, 01/20/2044⁽⁵⁾		59,282
		1,075,634	5.00%, 01/20/2034		1,185,770
		780,364	5.00%, 05/20/2040⁽⁵⁾		184,632
		1,267,362	5.50%, 09/20/2033		1,387,073
		572,884	6.00%, 01/15/2033		663,414
		396,040	6.00%, 02/15/2033		459,327
		47,114	6.50%, 12/15/2028		54,243
		36,453	6.50%, 05/15/2029		42,231


Shares or Principal Amount				Market Value^†
U.S. GOVERNMENT AGENCIES - 72.9% - (continued)
			GNMA - 1.5% - (continued)
	$	567,709	6.50%, 05/16/2031	$	656,480
		50,561	6.50%, 09/15/2031		57,754
		245,252	6.50%, 10/15/2031		280,144
		260,003	6.50%, 11/15/2031		296,993
		299,883	6.50%, 01/15/2032		342,547
		19,941	7.00%, 06/20/2030		22,168
		17,303	7.00%, 05/15/2032		20,756
		47,292	7.00%, 07/15/2032		52,505
		116,848	7.00%, 09/15/2032		125,019
		651,041	7.00%, 10/15/2032		740,941
		1,852	7.50%, 04/15/2022		1,858
		3,874	7.50%, 01/15/2023		3,896
		793	7.50%, 05/15/2023		846
		5,873	7.50%, 06/15/2023		6,342
		1,586	7.50%, 07/15/2023		1,592
		16,912	7.50%, 08/15/2023		17,229
		6,965	7.50%, 09/15/2023		6,990
		10,587	7.50%, 10/15/2023		11,052
		17,258	7.50%, 11/15/2023		18,208
		4,817	7.50%, 12/15/2023		4,834
		9,449	7.50%, 02/15/2024		9,806
		2,615	7.50%, 04/15/2024		2,639
		177	7.50%, 05/15/2024		192
		67,161	7.50%, 07/15/2027		74,384
		46,975	7.50%, 04/20/2030		55,075
		81	8.50%, 09/15/2019		82
		9,527	8.50%, 09/15/2024		10,619
		1,161	8.50%, 06/15/2029		1,226
		134	8.50%, 09/15/2029		134
		6,212	8.50%, 10/15/2029		6,657
		2,659	8.50%, 01/15/2030		3,020
		8,598	8.50%, 02/15/2030		8,706
		941	8.50%, 03/15/2030		1,010

					6,877,676


			Total U.S. Government Agencies (cost $328,099,354)	$	326,938,193



U.S. GOVERNMENT SECURITIES - 25.2%
			Other Direct Federal Obligations - 1.1%
			FHLB - 1.1%
	$	4,825,000	1.88%, 08/01/2019	$	4,869,969

			U.S. Treasury Securities - 24.1%
			U.S. Treasury Notes - 24.1%
		11,702,572	0.13%, 01/15/2023⁽⁸⁾		11,616,137
		24,200,000	0.75%, 08/31/2018⁽⁷⁾		24,050,638
		35,300,000	0.75%, 10/31/2018		35,046,264
		19,533,555	1.38%, 01/15/2020⁽⁸⁾		20,543,713
		17,125,000	2.25%, 11/15/2025		16,905,593

					108,162,345


			Total U.S. Government Securities (cost $114,397,741)	$	113,032,314


			Total Long-Term Investments (cost $524,191,863)	$	522,011,418

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


		183

Hartford U.S. Government Securities HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Shares or Principal Amount

Market Value^†

SHORT-TERM INVESTMENTS - 6.1%

Other Investment Pools & Funds - 6.1%

27,174,185

Fidelity Institutional Government Fund, Institutional Class

27,174,185



Total Short-Term Investments (cost $27,174,185)			$	27,174,185


Total Investments (cost $551,366,048)^{^}	122.5	%	$	549,185,603
Other Assets and Liabilities	(22.5	)%		(100,957,476	)

Total Net Assets	100.0	%	$	448,228,127

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


		184

Hartford U.S. Government Securities HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $551,437,071 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	3,647,034
Unrealized Depreciation		(5,898,502	)

Net Unrealized Depreciation	$	(2,251,468	)

⁽¹⁾

Securities issued within terms of a private placement memorandum and exempt from registration under Rule 144A under the Securities Act of 1933, as amended, and may be sold only to qualified institutional buyers. Unless otherwise indicated, these holdings are determined to be liquid. At December 31, 2016, the aggregate value of these securities was $70,446,216, which represents 15.7% of total net assets.

⁽²⁾	Variable rate securities; the rate reported is the coupon rate in effect at December 31, 2016.

⁽³⁾

This security is valued in good faith at fair value as determined under policies and procedures established by and under the supervision of the Board of Directors. At December 31, 2016, the aggregate fair value of this security was $1,285,000, which represents 0.3% of total net assets. This amount excludes securities that are principally traded in certain foreign markets and whose prices are adjusted pursuant to a third party pricing service methodology approved by the Board of Directors.

⁽⁴⁾	Represents or includes a TBA transaction.

⁽⁵⁾	Securities disclosed are interest-only strips.

⁽⁶⁾	These securities pay no principal or interest during their initial accrual period, but accrue additional principal at a specified coupon rate.

⁽⁷⁾	This security, or a portion of this security, has been pledged as collateral in connection with futures contracts.

⁽⁸⁾	The principal amount for these securities are adjusted for inflation and the interest payments equal a fixed percentage of the inflation-adjusted principal amount.

Futures Contracts Outstanding at December 31, 2016


Description	Number of Contracts		Expiration Date		Notional Amount		Market Value^†		Unrealized Appreciation/ (Depreciation)
Long position contracts:
U.S. Treasury 2-Year Note Future		238		03/31/2017	$	51,580,337	$	51,571,625	$	(8,712	)
U.S. Treasury 5-Year Note Future		874		03/31/2017		102,983,564		102,838,391		(145,173	)

Total									$	(153,885	)

Short position contracts:
U.S. Treasury 10-Year Note Future		347		03/22/2017	$	42,902,971	$	43,125,594	$	(222,623	)

Total futures contracts									$	(376,508	)

TBA Sale Commitments Outstanding at December 31, 2016


Description	Principal Amount		Maturity Date		Market Value^†			Unrealized Appreciation/ (Depreciation)
FHLMC, 3.00%	$	12,000,000		01/01/2047	$	(11,915,693	)	$	(34,755	)
FHLMC, 5.50%		3,700,000		01/01/2047		(4,102,375	)		5,781
FNMA, 2.50%		14,900,000		01/01/2047		(14,175,119	)		5,490
FNMA, 3.00%		12,825,000		01/01/2047		(12,740,532	)		(8,206	)
FNMA, 3.50%		9,975,000		01/01/2047		(10,223,596	)		8,419
FNMA, 4.50%		21,750,000		01/01/2047		(23,393,993	)		(631	)

Total (proceeds $76,527,406)					$	(76,551,308	)	$	(23,902	)

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


		185

Hartford U.S. Government Securities HLS Fund

Schedule of Investments – (continued)

December 31, 2016

At December 31, 2016, the aggregate market value of TBA Sale Commitments Outstanding represents (17.1)% of total net assets.

Centrally Cleared Interest Rate Swap Contracts Outstanding at December 31, 2016


Payments made by Fund	Payments received by Fund	Notional Amount			Expiration Date		Upfront Premiums Paid		Upfront Premiums Received		Market Value^†		Unrealized Appreciation/ (Depreciation)
3M USD LIBOR	1.75% Fixed		USD	5,050,000		03/15/27	$	—	$	(140,168)	$	286,126	$	426,294

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
CLO		Collateralized Loan Obligation
CMO		Collateralized Mortgage Obligation
FHLB		Federal Home Loan Bank
FHLMC		Federal Home Loan Mortgage Corp.
FNMA		Federal National Mortgage Association
GNMA		Government National Mortgage Association
LIBOR		London Interbank Offered Rate
TBA		To Be Announced

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


		186

Hartford U.S. Government Securities HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total			Level 1⁽¹⁾			Level 2⁽¹⁾			Level 3⁽¹⁾
Assets
Asset & Commercial Mortgage Backed Securities	$	82,040,911		$	—		$	80,755,911		$	1,285,000
U.S. Government Agencies		326,938,193			—			326,938,193			—
U.S. Government Securities		113,032,314			—			113,032,314			—
Short-Term Investments		27,174,185			27,174,185			—			—
Swaps - Interest Rate⁽²⁾		426,294			—			426,294			—

Total	$	549,611,897		$	27,174,185		$	521,152,712		$	1,285,000

Liabilities
Futures Contracts⁽²⁾	$	(376,508	)	$	(376,508	)	$	—		$	—
TBA Sale Commitments		(76,551,308	)		—			(76,551,308	)		—

Total	$	(76,927,816	)	$	(376,508	)	$	(76,551,308	)	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

⁽²⁾	Derivative instruments (excluding purchased and written options, if applicable) are valued at the unrealized appreciation/depreciation on the investments.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Asset & Commercial Mortgage Backed Securities		Total
Beginning balance	$	—	$	—
Purchases		1,285,000		1,285,000
Sales		—		—
Accrued discounts/(premiums)		—		—
Total realized gain/(loss)		—		—
Net change in unrealized appreciation/depreciation		—		—
Transfers into Level 3		—		—
Transfers out of Level 3		—		—

Ending balance	$	1,285,000	$	1,285,000

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $0.

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


		187

Hartford Value HLS Fund

Schedule of Investments

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.1%
		Banks - 16.4%
	268,800	Bank of America Corp.	$	5,940,480
	229,485	Citigroup, Inc.		13,638,294
	291,652	JP Morgan Chase & Co.		25,166,651
	48,770	M&T Bank Corp.		7,629,091
	116,920	PNC Financial Services Group, Inc.		13,674,963
	365,535	Wells Fargo & Co.		20,144,634

				86,194,113

		Capital Goods - 9.8%
	34,475	3M Co.		6,156,201
	49,790	Caterpillar, Inc.		4,617,525
	122,655	Eaton Corp. plc		8,228,924
	95,370	Fortune Brands Home & Security, Inc.		5,098,480
	299,500	General Electric Co.		9,464,200
	98,975	Ingersoll-Rand plc		7,427,084
	100,770	Triumph Group, Inc.		2,670,405
	71,020	United Technologies Corp.		7,785,212

				51,448,031

		Commercial & Professional Services - 0.8%
	103,850	Nielsen Holdings plc		4,356,507

		Consumer Durables & Apparel - 1.0%
	280,605	PulteGroup, Inc.		5,157,520

		Consumer Services - 2.6%
	319,390	Hilton Worldwide Holdings, Inc.		8,687,408
	112,530	Norwegian Cruise Line Holdings Ltd.*		4,785,901

				13,473,309

		Diversified Financials - 5.9%
	19,405	BlackRock, Inc.		7,384,379
	29,890	Goldman Sachs Group, Inc.		7,157,160
	91,625	Intercontinental Exchange, Inc.		5,169,483
	206,430	Invesco Ltd.		6,263,086
	116,400	Thomson Reuters Corp.		5,095,992

				31,070,100

		Energy - 12.4%
	50,765	Anadarko Petroleum Corp.		3,539,843
	123,520	Canadian Natural Resources Ltd.		3,937,818
	116,055	Chevron Corp.		13,659,673
	82,850	EOG Resources, Inc.		8,376,135
	93,085	Exxon Mobil Corp.		8,401,852
	153,335	Halliburton Co.		8,293,890
	398,599	Marathon Oil Corp.		6,899,749
	52,390	Occidental Petroleum Corp.		3,731,740
	32,190	Pioneer Natural Resources Co.		5,796,453
	230,530	Southwestern Energy Co.*		2,494,335

				65,131,488

		Food & Staples Retailing - 0.4%
	23,370	CVS Health Corp.		1,844,127

		Food, Beverage & Tobacco - 4.6%
	112,188	British American Tobacco plc		6,358,296
	50,453	Kraft Heinz Co.		4,405,556
	126,740	Mondelez International, Inc. Class A		5,618,384
	83,480	Philip Morris International, Inc.		7,637,585

				24,019,821


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.1% - (continued)
		Health Care Equipment & Services - 2.9%
	104,086	Medtronic plc	$	7,414,046
	47,255	UnitedHealth Group, Inc.		7,562,690

				14,976,736

		Insurance - 6.7%
	87,135	American International Group, Inc.		5,690,787
	64,210	Chubb Ltd.		8,483,425
	94,430	Marsh & McLennan Cos., Inc.		6,382,524
	124,520	MetLife, Inc.		6,710,383
	76,505	Principal Financial Group, Inc.		4,426,579
	80,945	Unum Group		3,555,914

				35,249,612

		Materials - 2.7%
	35,710	Agrium, Inc.		3,590,641
	121,240	Dow Chemical Co.		6,937,353
	67,205	International Paper Co.		3,565,897

				14,093,891

		Media - 2.5%
	112,020	CBS Corp. Class B		7,126,713
	89,345	Comcast Corp. Class A		6,169,272

				13,295,985

		Pharmaceuticals, Biotechnology & Life Sciences - 8.3%
	27,860	Allergan plc*		5,850,879
	31,950	Amgen, Inc.		4,671,409
	179,860	AstraZeneca plc ADR		4,913,775
	110,250	Bristol-Myers Squibb Co.		6,443,010
	222,010	Merck & Co., Inc.		13,069,729
	80,274	Pfizer, Inc.		2,607,299
	25,174	Roche Holding AG		5,738,478

				43,294,579

		Retailing - 3.1%
	34,750	Home Depot, Inc.		4,659,280
	193,450	Liberty Interactive Corp. QVC Group Class A*		3,865,131
	58,520	Lowe’s Cos., Inc.		4,161,943
	39,190	Signet Jewelers Ltd.		3,694,049

				16,380,403

		Semiconductors & Semiconductor Equipment - 5.6%
	43,850	Analog Devices, Inc.		3,184,387
	303,990	Intel Corp.		11,025,717
	173,265	Maxim Integrated Products, Inc.		6,682,831
	131,670	QUALCOMM, Inc.		8,584,884

				29,477,819

		Software & Services - 2.8%
	105,860	Cognizant Technology Solutions Corp. Class A*		5,931,336
	90,020	eBay, Inc.*		2,672,694
	93,305	Microsoft Corp.		5,797,972

				14,402,002

		Technology Hardware & Equipment - 4.3%
	31,340	Apple, Inc.		3,629,799
	501,520	Cisco Systems, Inc.		15,155,934
	794,210	Nokia Oyj ADR		3,820,150

				22,605,883

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


		188

Hartford Value HLS Fund

Schedule of Investments – (continued)

December 31, 2016


Shares or Principal Amount			Market Value^†
COMMON STOCKS - 99.1% - (continued)
		Telecommunication Services - 1.6%
	159,550	Verizon Communications, Inc.	$	8,516,779

		Transportation - 1.3%
	65,020	Union Pacific Corp.		6,741,274

		Utilities - 3.4%
	37,740	Dominion Resources, Inc.		2,890,507
	71,980	Edison International		5,181,840
	120,805	Eversource Energy		6,672,060
	26,415	NextEra Energy, Inc.		3,155,536

				17,899,943


		Total Common Stocks (cost $395,373,015)	$	519,629,922


		Total Long-Term Investments (cost $395,373,015)	$	519,629,922


SHORT-TERM INVESTMENTS - 1.2%
		Other Investment Pools & Funds - 1.2%
	5,944,317	BlackRock Liquidity Funds TempFund Portfolio, Institutional Class	$	5,944,317


		Total Short-Term Investments (cost $5,944,317)	$	5,944,317



Total Investments (cost $401,317,332)^{^}	100.3	%	$	525,574,239
Other Assets and Liabilities	(0.3	)%		(1,367,566	)

Total Net Assets	100.0	%	$	524,206,673

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


		189

Hartford Value HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Note:

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

For Fund compliance purposes, the Fund may not use the same classification system shown in this report as these classifications are used for financial reporting purposes.

^{^}	At December 31, 2016, the cost of securities for federal income tax purposes was $403,345,300 and the aggregate gross unrealized appreciation and depreciation based on that cost were:


Unrealized Appreciation	$	140,526,736
Unrealized Depreciation		(18,297,797	)

Net Unrealized Appreciation	$	122,228,939

*	Non-income producing.

^†	See Significant Accounting Policies of accompanying Notes to Financial Statements regarding valuation of investments.


GLOSSARY: (abbreviations used in preceding Schedule of Investments)

Other Abbreviations:
ADR		American Depositary Receipt

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


		190

Hartford Value HLS Fund

Schedule of Investments – (continued)

December 31, 2016

Fair Valuation Summary

The following is a summary of the fair valuations according to the inputs used as of December 31, 2016 in valuing the Fund’s investments.


	Total		Level 1⁽¹⁾		Level 2⁽¹⁾		Level 3⁽¹⁾
Assets
Common Stocks
Banks	$	86,194,113	$	86,194,113	$	—	$	—
Capital Goods		51,448,031		51,448,031		—		—
Commercial & Professional Services		4,356,507		4,356,507		—		—
Consumer Durables & Apparel		5,157,520		5,157,520		—		—
Consumer Services		13,473,309		13,473,309		—		—
Diversified Financials		31,070,100		31,070,100		—		—
Energy		65,131,488		65,131,488		—		—
Food & Staples Retailing		1,844,127		1,844,127		—		—
Food, Beverage & Tobacco		24,019,821		17,661,525		6,358,296		—
Health Care Equipment & Services		14,976,736		14,976,736		—		—
Insurance		35,249,612		35,249,612		—		—
Materials		14,093,891		14,093,891		—		—
Media		13,295,985		13,295,985		—		—
Pharmaceuticals, Biotechnology & Life Sciences		43,294,579		37,556,101		5,738,478		—
Retailing		16,380,403		16,380,403		—		—
Semiconductors & Semiconductor Equipment		29,477,819		29,477,819		—		—
Software & Services		14,402,002		14,402,002		—		—
Technology Hardware & Equipment		22,605,883		22,605,883		—		—
Telecommunication Services		8,516,779		8,516,779		—		—
Transportation		6,741,274		6,741,274		—		—
Utilities		17,899,943		17,899,943		—		—
Short-Term Investments		5,944,317		5,944,317		—		—

Total	$	525,574,239	$	513,477,465	$	12,096,774	$	—

⁽¹⁾	For the year ended December 31, 2016, there were no transfers between any levels.

The following is a rollforward of the Fund’s investments that were valued using unobservable inputs (Level 3) for the year ended December 31, 2016:


	Common Stocks			Total
Beginning balance	$	49,723		$	49,723
Purchases		—			—
Sales		(55,248	)		(55,248	)
Accrued discounts/(premiums)		—			—
Total realized gain/(loss)		(12,221	)		(12,221	)
Net change in unrealized appreciation/depreciation		17,746			17,746
Transfers into Level 3		—			—
Transfers out of Level 3		—			—

Ending balance	$	—		$	—

The change in net unrealized appreciation/depreciation relating to the Level 3 investments held at December 31, 2016 was $0.

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


		191

Hartford HLS Funds

Statements of Assets and Liabilities

December 31, 2016


	Hartford Balanced HLS Fund			Hartford Capital Appreciation HLS Fund			Hartford Disciplined Equity HLS Fund
Assets:
Investments in securities, at market value	$	2,315,371,783		$	5,135,671,256		$	670,064,621
Cash		106,316			—			—
Cash collateral due from broker		—			—			—
Foreign currency		—			140,619			—
Unrealized appreciation on foreign currency contracts		—			1,062,399			—
Receivables:
Investment securities sold		—			59,817,734			2,372,603
Fund shares sold		52,542			129,304			4,149
Dividends and interest		9,328,744			6,180,591			789,702
Other assets		5,016			22,967			13,479

Total assets		2,324,864,401			5,203,024,870			673,244,554

Liabilities:
Unrealized depreciation on foreign currency contracts		—			71,825			—
Payables:
Investment securities purchased		1,989,039			24,878,355			3,665,457
Fund shares redeemed		1,817,424			39,487,513			615,260
Investment management fees		1,187,387			2,862,126			418,825
Transfer agent fees		477			865			455
Accounting services fees		31,597			79,684			6,881
Board of Directors’ fees		8,871			20,463			2,516
Variation margin on financial derivative instruments		44,334			—			—
Distribution fees		58,709			124,330			17,401
Accrued expenses		245,448			445,236			124,249

Total liabilities		5,383,286			67,970,397			4,851,044

Net assets	$	2,319,481,115		$	5,135,054,473		$	668,393,510

Summary of Net Assets:
Capital stock and paid-in-capital	$	2,002,160,844		$	4,825,800,705		$	479,083,247
Undistributed (distributions in excess of) net investment income		11,750,519			9,234,251			181,803
Accumulated net realized gain (loss)		(94,210,916	)		(9,741,799	)		65,091,095
Unrealized appreciation (depreciation) of investments and the translation of assets and liabilities denominated in foreign currency		399,780,668			309,761,316			124,037,365

Net assets	$	2,319,481,115		$	5,135,054,473		$	668,393,510

Shares authorized		9,700,000,000			5,450,000,000			3,500,000,000

Par value	$	0.0010		$	0.0010		$	0.0010

Class IA:Net asset value per share	$	27.46		$	42.05		$	14.30

Shares outstanding		74,418,785			108,337,344			41,050,983

Net Assets	$	2,043,555,682		$	4,555,454,163		$	587,089,046

Class IB:Net asset value per share	$	27.86		$	41.50		$	14.17

Shares outstanding		9,905,552			13,447,299			5,736,550

Net Assets	$	275,925,433		$	558,021,549		$	81,304,464

Class IC:Net asset value per share	$	—		$	41.76		$	—

Shares outstanding		—			516,780			—

Net Assets	$	—		$	21,578,761		$	—

Cost of investments	$	1,915,348,144		$	4,826,629,995		$	546,027,256
Cost of foreign currency	$	—		$	139,915		$	—

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


		192

Hartford HLS Funds

Statements of Assets and Liabilities – (continued)

December 31, 2016


Hartford Dividend and Growth HLS Fund		Hartford Global Growth HLS Fund		Hartford Growth Opportunities HLS Fund			Hartford Healthcare HLS Fund			Hartford High Yield HLS Fund			Hartford International Opportunities HLS Fund			Hartford MidCap HLS Fund

$	3,444,382,504	$	421,207,891	$	1,311,952,823		$	291,260,031		$	317,056,151		$	1,231,426,620		$	1,814,382,695
	44,710		—		—			—			—			—			—
	—		—		—			—			606,416			—			—
	—		116,076		—			—			—			745,302			—
	—		—		—			—			—			—			—

	9,131,161		—		1,550,757			7,451			5,778			1,371,980			—
	237,846		83,659		541,182			6,378			2,115			407,689			1,082,503
	4,691,618		731,329		401,353			185,034			5,144,875			3,063,769			976,233
	3,475		14,531		18,926			14,618			14,994			11,179			8,898

	3,458,491,314		422,153,486		1,314,465,041			291,473,512			322,830,329			1,237,026,539			1,816,450,329


	—		—		—			—			41,438			—			—

	2,430,458		214,477		9,746,398			—			—			1,429,946			—
	1,756,257		1,632,081		944,922			562,974			678,768			484,697			673,742
	1,890,480		272,682		682,794			209,362			190,613			726,431			1,042,366
	518		453		689			455			485			592			529
	34,951		5,061		11,239			2,485			5,446			16,699			15,492
	12,117		1,666		5,310			1,158			1,263			4,826			6,536
	—		—		—			—			7,861			—			—
	93,592		15,609		34,139			9,396			16,409			31,251			19,981
	284,688		105,351		163,793			44,604			103,052			226,905			95,425

	6,503,061		2,247,380		11,589,284			830,434			1,045,335			2,921,347			1,854,071

$	3,451,988,253	$	419,906,106	$	1,302,875,757		$	290,643,078		$	321,784,994		$	1,234,105,192		$	1,814,596,258


$	2,231,683,923	$	342,225,921	$	1,192,705,484		$	229,747,909		$	331,774,594		$	1,486,503,957		$	1,365,912,325
	406,191		2,331,234		(341,766	)		(207,735	)		18,064,801			20,907,509			20,852
	222,907,602		21,938,593		5,582,361			43,736,684			(30,418,372	)		(307,025,978	)		64,991,083
	996,990,537		53,410,358		104,929,678			17,366,220			2,363,971			33,719,704			383,671,998

$	3,451,988,253	$	419,906,106	$	1,302,875,757		$	290,643,078		$	321,784,994		$	1,234,105,192		$	1,814,596,258

	4,200,000,000		3,600,000,000		900,000,000			800,000,000			2,800,000,000			2,825,000,000			2,600,000,000

$	0.0010	$	0.0010	$	0.0010		$	0.0010		$	0.0010		$	0.0010		$	0.0010

$	22.10	$	22.14	$	29.83		$	21.46		$	8.11		$	14.14		$	33.83

	136,399,643		15,688,211		38,393,394			11,488,265			30,109,759			76,870,243			50,877,900

$	3,013,788,222	$	347,375,312	$	1,145,176,230		$	246,494,398		$	244,211,667		$	1,086,762,263		$	1,721,028,936

$	22.01	$	21.95	$	28.74		$	20.60		$	7.98		$	14.31		$	33.17

	19,909,496		3,304,936		4,597,373			2,143,553			9,720,355			10,295,311			2,820,875

$	438,200,031	$	72,530,794	$	132,149,487		$	44,148,680		$	77,573,327		$	147,342,929		$	93,567,322

$	—	$	—	$	29.43		$	—		$	—		$	—		$	—

	—		—		868,147			—			—			—			—

$	—	$	—	$	25,550,040		$	—		$	—		$	—		$	—

$	2,447,392,793	$	367,739,725	$	1,207,009,608		$	273,892,295		$	314,951,748		$	1,197,387,705		$	1,430,710,697
$	—	$	116,289	$	—		$	—		$	—		$	746,684		$	—

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


		193

Hartford HLS Funds

Statements of Assets and Liabilities – (continued)

December 31, 2016


	Hartford MidCap Value HLS Fund		Hartford Small Cap Growth HLS Fund			Hartford Small Company HLS Fund
Assets:
Investments in securities, at market value	$	377,921,286	$	1,202,204,694		$	905,587,484
Cash		—		412,997			—
Cash collateral due from broker		—		—			—
Foreign currency		11		—			4
Unrealized appreciation on OTC swap contracts		—		—			—
Unrealized appreciation on foreign currency contracts		—		—			—
Receivables:
Investment securities sold		2,842,917		2,083,558			1,610,064
Fund shares sold		32		363,872			865,542
Dividends and interest		383,229		786,565			724,838
Variation margin on financial derivative instruments		—		—			—
OTC swap premiums paid		—		—			—
Other assets		14,872		17,557			11,360

Total assets		381,162,347		1,205,869,243			908,799,292

Liabilities:
Unrealized depreciation on foreign currency contracts		—		—			—
Bank overdraft - foreign cash		—		—			—
Unrealized depreciation on OTC swap contracts		—		—			—
Cash collateral due to broker		—		—			—
TBA sale commitments, at market value		—		—			—
Payables:
Investment securities purchased		756,760		2,983,849			638,633
Fund shares redeemed		470,461		2,974,545			317,531
Investment management fees		261,893		622,770			561,454
Transfer agent fees		431		695			592
Accounting services fees		3,274		12,286			9,417
Board of Directors’ fees		1,346		4,230			3,350
Variation margin on financial derivative instruments		—		—			—
Distribution fees		19,321		48,409			15,793
Accrued expenses		72,825		90,152			100,108
OTC swap premiums received		—		—			—

Total liabilities		1,586,311		6,736,936			1,646,878

Net assets	$	379,576,036	$	1,199,132,307		$	907,152,414

Summary of Net Assets:
Capital stock and paid-in-capital	$	290,745,141	$	1,065,768,438		$	927,301,015
Undistributed (distributions in excess of) net investment income		1,962,506		1,097,782			—
Accumulated net realized gain (loss)		23,183,268		(18,406,950	)		(99,762,839	)
Unrealized appreciation (depreciation) of investments and the translation of assets and liabilities denominated in foreign currency		63,685,121		150,673,037			79,614,238

Net assets	$	379,576,036	$	1,199,132,307		$	907,152,414

Shares authorized		1,200,000,000		700,000,000			1,500,000,000

Par value	$	0.0010	$	0.0010		$	0.0010

Class IA:Net asset value per share	$	12.00	$	26.77		$	16.16

Shares outstanding		24,162,720		36,333,816			51,596,463

Net Assets	$	289,871,754	$	972,575,785		$	834,043,936

Class IB:Net asset value per share	$	11.91	$	26.12		$	15.05

Shares outstanding		7,533,394		8,673,976			4,856,554

Net Assets	$	89,704,282	$	226,556,522		$	73,108,478

Cost of investments	$	314,234,086	$	1,051,531,657		$	825,973,246
Cost of foreign currency	$	12	$	—		$	4
Cost of bank overdraft - foreign cash	$	—	$	—		$	—
Proceeds of TBA sale commitments	$	—	$	—		$	—

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


		194

Hartford HLS Funds

Statements of Assets and Liabilities – (continued)

December 31, 2016


Hartford Small/Mid Cap Equity HLS Fund		Hartford Stock HLS Fund			Hartford Total Return Bond HLS Fund			Hartford Ultrashort Bond HLS Fund			Hartford U.S. Government Securities HLS Fund			Hartford Value HLS Fund

$	106,305,520	$	1,458,722,097		$	3,243,742,194		$	611,247,892		$	549,185,603		$	525,574,239
	—		—			357,168			14,284			—			40,110
	—		—			250,000			—			292,105			—
	—		130,544			20,421			—			—			—
	—		—			8,252,568			—			—			—
	—		—			5,008,810			—			—			—

	—		—			850,430,314			—			100,103,894			—
	275,911		4,319			167,051			5,381			38,483			31,154
	169,659		3,172,179			15,467,776			1,222,259			1,238,508			843,366
	—		—			455,817			—			21,723			—
	—		—			10,645,186			—			—			—
	19,020		8,561			5,422			13,823			15,086			17,584

	106,770,110		1,462,037,700			4,134,802,727			612,503,639			650,895,402			526,506,453


	—		—			1,514,097			—			—			—
	—		—			20,368			—			—			—
	—		—			3,788,597			—			—			—
	—		—			2,659,000			—			—			—
	—		—			142,038,159			—			76,551,308			—

	1,706,905		—			1,459,336,341			—			125,615,594			1,466,696
	82,926		8,265,061			1,259,988			416,048			197,455			388,109
	69,292		599,335			985,659			208,793			172,639			334,502
	417		448			514			459			439			493
	1,213		12,495			42,160			5,220			4,604			4,485
	340		5,494			9,870			2,366			1,803			1,894
	—		—			66,593			—			—			—
	3,633		30,116			55,544			16,831			16,927			16,591
	28,556		181,464			281,913			104,625			106,506			87,010
	—		—			16,051,566			—			—			—

	1,893,282		9,094,413			1,628,110,369			754,342			202,667,275			2,299,780

$	104,876,828	$	1,452,943,287		$	2,506,692,358		$	611,749,297		$	448,228,127		$	524,206,673


$	86,636,668	$	1,342,250,796		$	2,445,371,135		$	608,281,570		$	549,105,645		$	366,188,394
	1,102,708		724,929			69,347,138			4,216,358			8,912,051			879,487
	2,790,993		(138,692,964	)		(18,396,409	)		(667,792	)		(107,635,008	)		32,897,439
	14,346,459		248,660,526			10,370,494			(80,839	)		(2,154,561	)		124,241,353

$	104,876,828	$	1,452,943,287		$	2,506,692,358		$	611,749,297		$	448,228,127		$	524,206,673

	900,000,000		4,200,000,000			5,000,000,000			14,000,000,000			700,000,000			800,000,000

$	0.0010	$	0.0010		$	0.0010		$	0.0010		$	0.0010		$	0.0010

$	8.03	$	67.55		$	11.09		$	10.04		$	10.30		$	15.27

	10,921,897		19,431,615			202,418,104			53,102,329			35,786,830			29,231,994

$	87,752,302	$	1,312,626,125		$	2,244,505,181		$	533,091,199		$	368,739,611		$	446,410,935

$	7.99	$	67.53		$	11.03		$	10.02		$	10.28		$	15.26

	2,144,309		2,077,852			23,777,106			7,848,297			7,730,044			5,099,682

$	17,124,526	$	140,317,162		$	262,187,177		$	78,658,098		$	79,488,516		$	77,795,738

$	91,959,061	$	1,209,966,173		$	3,242,058,289		$	611,328,731		$	551,366,048		$	401,317,332
$	—	$	129,766		$	—		$	—		$	—		$	—
$	—	$	—		$	20,368		$	—		$	—		$	—
$	—	$	—		$	141,998,727		$	—		$	76,527,406		$	—

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


		195

Hartford HLS Funds

Statements of Operations

For the Year Ended December 31, 2016


	Hartford Balanced HLS Fund			Hartford Capital Appreciation HLS Fund			Hartford Disciplined Equity HLS Fund
Investment Income:
Dividends	$	37,389,238		$	95,413,491		$	10,637,394
Interest		27,571,701			422,393			36,146
Other income		1,499			4,347			583
Less: Foreign tax withheld		(317,753	)		(1,904,883	)		—

Total investment income, net		64,644,685			93,935,348			10,674,123

Expenses:
Investment management fees		14,915,455			36,276,293			5,023,811
Administrative services fees
Class IC		—			46,666			—
Transfer agent fees
Class IA		5,046			8,691			4,780
Class IB		687			990			673
Class IC		—			32			—
Distribution fees
Class IB		719,863			1,450,231			212,510
Class IC		—			46,666			—
Custodian fees		19,529			172,588			4,444
Registration and filing fees		32,987			48,665			30,468
Accounting services fees		384,617			997,347			82,646
Board of Directors’ fees		70,656			166,886			20,567
Audit fees		52,327			55,471			32,504
Other expenses		435,089			997,953			214,923

Total expenses (before waivers and fees paid indirectly)		16,636,256			40,268,479			5,627,326
Management fee waivers		(480,772	)		—			—
Commission recapture		(18,211	)		(129,072	)		(5,632	)

Total waivers and fees paid indirectly		(498,983	)		(129,072	)		(5,632	)

Total expenses, net		16,137,273			40,139,407			5,621,694

Net Investment Income (Loss)		48,507,412			53,795,941			5,052,429

Net Realized Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized gain (loss) on investments		121,865,525			77,125,176			65,687,219
Net realized gain (loss) on futures contracts		(329,910	)		—			15,267
Net realized gain (loss) on written options contracts		—			538,384			—
Net realized gain (loss) on swap contracts		—			—			—
Net realized gain (loss) on foreign currency contracts		—			2,299,913			—
Net realized gain (loss) on other foreign currency transactions		124			(685,610	)		—

Net Realized Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions		121,535,739			79,277,863			65,702,486

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Other Financial Instruments and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		(31,265,570	)		144,947,818			(33,088,388	)
Net unrealized appreciation (depreciation) of futures contracts		(100,278	)		—			(281,759	)
Net unrealized appreciation (depreciation) of swap contracts		—			—			—
Net unrealized appreciation (depreciation) of foreign currency contracts		—			207,549			—
Net unrealized appreciation (depreciation) of translation of other assets and liabilities in foreign currencies		(15,085	)		(54,587	)		(6	)

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Other Financial Instruments and Foreign Currency Transactions		(31,380,933	)		145,100,780			(33,370,153	)

Net Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions		90,154,806			224,378,643			32,332,333

Net Increase (Decrease) in Net Assets Resulting from Operations	$	138,662,218		$	278,174,584		$	37,384,762

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


		196

Hartford HLS Funds

Statements of Operations – (continued)

For the Year Ended December 31, 2016


Hartford Dividend and Growth HLS Fund			Hartford Global Growth HLS Fund			Hartford Growth Opportunities HLS Fund			Hartford Healthcare HLS Fund			Hartford High Yield HLS Fund			Hartford International Opportunities HLS Fund			Hartford MidCap HLS Fund

$	87,826,715		$	6,265,805		$	7,144,353		$	3,188,349		$	254,547		$	34,198,434		$	15,012,232
	216,453			8,938			64,494			19,717			20,449,873			109,141			11,678
	764			928			1,247			929			1,836			1,889			863
	(573,680	)		(239,067	)		(49,885	)		(28,149	)		—			(3,070,324	)		(81,224	)

	87,470,252			6,036,604			7,160,209			3,180,846			20,706,256			31,239,140			14,943,549


	21,368,550			3,320,308			7,976,427			2,845,240			2,297,473			8,678,242			11,646,320

	—			—			60,157			—			—			—			—

	5,485			4,486			7,164			4,647			4,338			6,207			6,032
	822			970			877			815			1,333			876			349
	—			—			150			—			—			—			—

	1,070,270			196,038			350,861			126,737			192,874			386,690			235,675
	—			—			60,157			—			—			—			—
	17,072			12,997			18,854			4,687			5,675			95,475			11,648
	35,348			30,205			50,765			31,067			30,047			31,619			32,748
	394,230			61,702			131,274			34,003			65,642			199,763			172,341
	95,291			13,374			38,658			10,524			10,099			37,012			50,009
	39,084			43,578			30,747			32,785			46,600			63,061			34,619
	639,112			140,345			342,526			51,510			125,974			381,983			235,538

	23,665,264			3,824,003			9,068,617			3,142,015			2,780,055			9,880,928			12,425,279
	—			—			—			—			—			—			—
	(26,565	)		(7,411	)		(20,230	)		(4,451	)		—			(16,977	)		(26,642	)

	(26,565	)		(7,411	)		(20,230	)		(4,451	)		—			(16,977	)		(26,642	)

	23,638,699			3,816,592			9,048,387			3,137,564			2,780,055			9,863,951			12,398,637

	63,831,553			2,220,012			(1,888,178	)		43,282			17,926,201			21,375,189			2,544,912


	221,863,510			22,270,510			13,116,401			51,925,872			(9,219,360	)		(16,906,376	)		67,771,808
	—			—			—			—			—			—			—
	—			—			—			—			—			—			—
	—			—			—			—			589,795			—			—
	—			—			—			—			72,216			—			—
	(36,394	)		(60,632	)		13,550			(20,521	)		199,461			(646,629	)		403

	221,827,116			22,209,878			13,129,951			51,905,351			(8,357,888	)		(17,553,005	)		67,772,211


	165,885,299			(17,150,341	)		(18,176,994	)		(87,832,829	)		33,673,053			9,364,739			125,224,671
	—			—			—			—			—			—			—
	—			—			—			—			370,758			—			—
	—			—						—			(105,268	)		—			—
	1,985			(14,476	)		(812	)		(744	)		(567	)		(62,623	)		—

	165,887,284			(17,164,817	)		(18,177,806	)		(87,833,573	)		33,937,976			9,302,116			125,224,671

	387,714,400			5,045,061			(5,047,855	)		(35,928,222	)		25,580,088			(8,250,889	)		192,996,882

$	451,545,953		$	7,265,073		$	(6,936,033	)	$	(35,884,940	)	$	43,506,289		$	13,124,300		$	195,541,794

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


		197

Hartford HLS Funds

Statements of Operations – (continued)

For the Year Ended December 31, 2016


	Hartford MidCap Value HLS Fund			Hartford Small Cap Growth HLS Fund			Hartford Small Company HLS Fund
Investment Income:
Dividends	$	5,382,033		$	8,963,578		$	6,710,631
Interest		22,016			58,082			73,030
Other income		1,738			1,342			3,007
Less: Foreign tax withheld		(72,785	)		(1,356	)		(3,390	)

Total investment income, net		5,333,002			9,021,646			6,783,278

Expenses:
Investment management fees		2,906,969			6,706,525			7,224,353
Transfer agent fees
Class IA		3,911			6,529			6,099
Class IB		1,219			1,512			563
Distribution fees
Class IB		215,937			517,841			215,174
Custodian fees		3,874			8,228			14,383
Registration and filing fees		30,081			93,272			30,986
Accounting services fees		36,337			132,131			122,339
Board of Directors’ fees		10,972			32,490			30,256
Audit fees		32,688			25,864			34,845
Other expenses		98,012			178,564			231,349

Total expenses (before waivers and fees paid indirectly)		3,340,000			7,702,956			7,910,347
Commission recapture		(3,768	)		(16,304	)		(46,731	)

Total waivers and fees paid indirectly		(3,768	)		(16,304	)		(46,731	)

Total expenses, net		3,336,232			7,686,652			7,863,616

Net Investment Income (Loss)		1,996,770			1,334,994			(1,080,338	)

Net Realized Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions:
Net realized gain (loss) on investments		25,072,414			(13,449,629	)		(87,561,121	)
Less: Foreign taxes paid on realized capital gains		—			—			—
Net realized gain (loss) on purchased options contracts		—			—			—
Net realized gain (loss) on futures contracts		—			—			—
Net realized gain (loss) on written options contracts		—			—			—
Net realized gain (loss) on swap contracts		—			—			—
Net realized gain (loss) on foreign currency contracts		—			—			—
Net realized gain (loss) on other foreign currency transactions		12,084			—			(19,426	)

Net Realized Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions		25,084,498			(13,449,629	)		(87,580,547	)

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Other Financial Instruments and Foreign Currency Transactions:
Net unrealized appreciation (depreciation) of investments		16,075,070			143,613,864			85,593,119
Net unrealized appreciation (depreciation) of purchased options contracts		—			—			—
Net unrealized appreciation (depreciation) of futures contracts		—			—			—
Net unrealized appreciation (depreciation) of written options contracts		—			—			—
Net unrealized appreciation (depreciation) of swap contracts		—			—			—
Net unrealized appreciation (depreciation) of foreign currency contracts		—			—			—
Net unrealized appreciation (depreciation) of translation of other assets and liabilities in foreign currencies		549			—			2,894

Net Changes in Unrealized Appreciation (Depreciation) of Investments, Other Financial Instruments and Foreign Currency Transactions		16,075,619			143,613,864			85,596,013

Net Gain (Loss) on Investments, Other Financial Instruments and Foreign Currency Transactions		41,160,117			130,164,235			(1,984,534	)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	43,156,887		$	131,499,229		$	(3,064,872	)

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


		198

Hartford HLS Funds

Statements of Operations – (continued)

For the Year Ended December 31, 2016


Hartford Small/Mid Cap Equity HLS Fund			Hartford Stock HLS Fund			Hartford Total Return Bond HLS Fund			Hartford Ultrashort Bond HLS Fund			Hartford U.S. Government Securities HLS Fund			Hartford Value HLS Fund

$	1,975,504		$	33,733,581		$	178,371		$	—		$	—		$	13,586,829
	3,445			95,698			96,562,376			6,934,616			10,833,299			21,990
	832			660			2,652			795			1,028			711
	(2,270	)		(241,657	)		—			(389	)		—			(85,941	)

	1,977,511			33,588,282			96,743,399			6,935,022			10,834,327			13,523,589


	727,567			7,184,617			12,279,076			2,625,907			2,229,979			3,840,032

	4,176			4,837			5,492			4,768			4,301			4,983
	835			530			662			737			947			874

	37,909			369,984			708,597			219,780			223,646			191,571
	1,254			9,675			51,717			5,211			4,785			3,907
	28,945			31,026			33,894			28,747			30,536			27,830
	12,732			149,936			526,590			65,648			59,474			51,354
	3,118			44,127			77,997			19,775			15,147			15,366
	25,108			34,314			51,969			38,782			43,455			32,386
	33,153			344,795			535,850			167,608			148,597			136,477

	874,797			8,173,841			14,271,844			3,176,963			2,760,867			4,304,780
	—			(3,099	)		—			—			—			(3,808	)

	—			(3,099	)		—			—			—			(3,808	)

	874,797			8,170,742			14,271,844			3,176,963			2,760,867			4,300,972

	1,102,714			25,417,540			82,471,555			3,758,059			8,073,460			9,222,617


	2,737,265			123,130,600			(6,133,901	)		133,001			6,942,126			35,940,404
	—			—			(65,134	)		—			—			—
	—			—			(108,902	)		—			—			—
	—			—			2,768,682			—			(38,912	)		—
	—			—			3,762,060			—			—			—
	—			—			(27,972,976	)		—			(280	)		—
	—			—			(4,597,065	)		—			—			—
	—			(13,156	)		205,441			—			—			(1,738	)

	2,737,265			123,117,444			(32,141,795	)		133,001			6,902,934			35,938,666


	9,923,513			(42,554,733	)		54,880,637			1,981,446			(6,725,029	)		20,360,625
	—			—			(109,680	)		—			—			—
	—			—			205,230			—			(254,974	)		—
	—			—			6,972			—			—			—
	—			—			9,842,268			—			426,294			—
	—			—			3,047,281			—			—			—
	—			(21,377	)		53,335			—			—			(3,820	)

	9,923,513			(42,576,110	)		67,926,043			1,981,446			(6,553,709	)		20,356,805

	12,660,778			80,541,334			35,784,248			2,114,447			349,225			56,295,471

$	13,763,492		$	105,958,874		$	118,255,803		$	5,872,506		$	8,422,685		$	65,518,088

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


		199

Hartford HLS Funds

Statements of Changes in Net Assets


	Hartford Balanced HLS Fund
	For the Year Ended December 31, 2016			For the Year Ended December 31, 2015
Operations:
Net investment income (loss)	$	48,507,412		$	50,414,982
Net realized gain (loss) on investments, other financial instruments and foreign currency transactions		121,535,739			218,419,541
Net changes in unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		(31,380,933	)		(261,214,650	)

Net Increase (Decrease) in Net Assets Resulting from Operations		138,662,218			7,619,873

Distributions to Shareholders:
From net investment income
Class IA		(57,374,388	)		(43,115,909	)
Class IB		(6,967,476	)		(4,997,202	)
Class IC		—			—

Total from net investment income		(64,341,864	)		(48,113,111	)

From net realized gain on investments
Class IA		—			—
Class IB		—			—
Class IC		—			—

Total from net realized gain on investments		—			—

Total distributions		(64,341,864	)		(48,113,111	)

Capital Share Transactions:
Sold		16,656,289			16,708,307
Issued on reinvestment of distributions		64,341,864			48,113,111
Redeemed		(347,720,604	)		(436,469,018	)

Net increase (decrease) from capital share transactions		(266,722,451	)		(371,647,600	)

Net Increase (Decrease) in Net Assets		(192,402,097	)		(412,140,838	)

Net Assets:
Beginning of period		2,511,883,212			2,924,024,050

End of period	$	2,319,481,115		$	2,511,883,212

Undistributed (distributions in excess of) net investment income	$	11,750,519		$	28,777,300

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


		200

Hartford HLS Funds

Statements of Changes in Net Assets – (continued)


Hartford Capital Appreciation HLS Fund						Hartford Disciplined Equity HLS Fund						Hartford Dividend and Growth HLS Fund						Hartford Global Growth HLS Fund
For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015

$	53,795,941		$	55,803,044		$	5,052,429		$	5,732,568		$	63,831,553		$	67,717,712		$	2,220,012		$	2,810,204
	79,277,863			499,190,946			65,702,486			86,358,959			221,827,116			382,559,504			22,209,878			46,843,135
	145,100,780			(466,258,274	)		(33,370,153	)		(39,562,393	)		165,887,284			(492,429,493	)		(17,164,817	)		(12,495,589	)

	278,174,584			88,735,716			37,384,762			52,529,134			451,545,953			(42,152,277	)		7,265,073			37,157,750



	(50,908,581	)		(52,995,203	)		(5,255,939	)		(5,191,407	)		(58,859,706	)		(56,949,781	)		(2,421,454	)		(2,064,712	)
	(4,835,762	)		(4,290,700	)		(523,839	)		(493,379	)		(7,559,424	)		(7,355,049	)		(298,138	)		(265,636	)
	(145,082	)		(91,794	)		—			—			—			—			—			—

	(55,889,425	)		(57,377,697	)		(5,779,778	)		(5,684,786	)		(66,419,130	)		(64,304,830	)		(2,719,592	)		(2,330,348	)


	(479,266,149	)		(1,143,708,705	)		(75,833,496	)		(208,795,133	)		(321,363,600	)		(446,508,332	)		(38,316,082	)		(17,807,958	)
	(55,348,578	)		(133,658,050	)		(10,746,897	)		(29,781,590	)		(48,363,667	)		(67,944,325	)		(8,316,510	)		(4,152,455	)
	(1,930,573	)		(2,343,239	)		—			—			—			—			—			—

	(536,545,300	)		(1,279,709,994	)		(86,580,393	)		(238,576,723	)		(369,727,267	)		(514,452,657	)		(46,632,592	)		(21,960,413	)

	(592,434,725	)		(1,337,087,691	)		(92,360,171	)		(244,261,509	)		(436,146,397	)		(578,757,487	)		(49,352,184	)		(24,290,761	)


	92,295,115			188,886,238			20,699,516			13,385,373			134,212,828			66,003,700			16,810,513			30,124,439
	592,434,725			1,337,087,691			92,360,171			244,261,509			436,146,397			578,757,487			49,352,184			24,290,761
	(1,594,446,333	)		(1,157,183,786	)		(130,281,451	)		(167,010,558	)		(575,274,237	)		(630,845,783	)		(83,230,273	)		(69,742,484	)

	(909,716,493	)		368,790,143			(17,221,764	)		90,636,324			(4,915,012	)		13,915,404			(17,067,576	)		(15,327,284	)

	(1,223,976,634	)		(879,561,832	)		(72,197,173	)		(101,096,051	)		10,484,544			(606,994,360	)		(59,154,687	)		(2,460,295	)


	6,359,031,107			7,238,592,939			740,590,683			841,686,734			3,441,503,709			4,048,498,069			479,060,793			481,521,088

$	5,135,054,473		$	6,359,031,107		$	668,393,510		$	740,590,683		$	3,451,988,253		$	3,441,503,709		$	419,906,106		$	479,060,793

$	9,234,251		$	5,652,191		$	181,803		$	979,743		$	406,191		$	5,287,312		$	2,331,234		$	2,754,031

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


		201

Hartford HLS Funds

Statements of Changes in Net Assets – (continued)


	Hartford Growth Opportunities HLS Fund
	For the Year Ended December 31, 2016			For the Year Ended December 31, 2015
Operations:
Net investment income (loss)	$	(1,888,178	)	$	235,777
Net realized gain (loss) on investments, other financial instruments and foreign currency transactions		13,129,951			195,529,079
Net changes in unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		(18,177,806	)		(41,501,855	)

Net Increase (Decrease) in Net Assets Resulting from Operations		(6,936,033	)		154,263,001

Distributions to Shareholders:
From net investment income
Class IA		(5,137,102	)		(1,563,969	)
Class IB		(207,347	)		—
Class IC		(63,822	)		—

Total from net investment income		(5,408,271	)		(1,563,969	)

From net realized gain on investments
Class IA		(169,379,777	)		(246,075,850	)
Class IB		(20,295,840	)		(33,542,514	)
Class IC		(3,608,835	)		(2,276,630	)

Total from net realized gain on investments		(193,284,452	)		(281,894,994	)

Total distributions		(198,692,723	)		(283,458,963	)

Capital Share Transactions:
Sold		160,464,745			73,681,828
Issued on reinvestment of distributions		198,692,723			283,458,963
Redeemed		(226,639,753	)		(217,081,410	)

Net increase (decrease) from capital share transactions		132,517,715			140,059,381

Net Increase (Decrease) in Net Assets		(73,111,041	)		10,863,419

Net Assets:
Beginning of period		1,375,986,798			1,365,123,379

End of period	$	1,302,875,757		$	1,375,986,798

Undistributed (distributions in excess of) net investment income	$	(341,766	)	$	5,172,640

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


		202

Hartford HLS Funds

Statements of Changes in Net Assets – (continued)


Hartford Healthcare HLS Fund						Hartford High Yield HLS Fund						Hartford International Opportunities HLS Fund						Hartford MidCap HLS Fund
For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015

$	43,282		$	(189,398	)	$	17,926,201		$	21,098,919		$	21,375,189		$	20,581,447		$	2,544,912		$	1,151,367
	51,905,351			69,042,842			(8,357,888	)		(12,670,641	)		(17,553,005	)		44,603,449			67,772,211			179,588,938
	(87,833,573	)		(21,660,295	)		33,937,976			(22,857,170	)		9,302,116			(34,352,453	)		125,224,671			(152,431,577	)

	(35,884,940	)		47,193,149			43,506,289			(14,428,892	)		13,124,300			30,832,443			195,541,794			28,308,728



	(9,786,913	)		—			(15,598,376	)		(18,980,813	)		(17,922,412	)		(17,879,578	)		(2,990,801	)		(1,399,724	)
	(1,640,493	)		—			(4,574,775	)		(5,933,685	)		(2,012,534	)		(2,176,492	)		(27,743	)		(90,171	)
	—			—			—			—			—			—			—			—

	(11,427,406	)		—			(20,173,151	)		(24,914,498	)		(19,934,946	)		(20,056,070	)		(3,018,544	)		(1,489,895	)


	(54,644,064	)		(41,644,271	)		—			—			—			—			(170,188,177	)		(197,172,246	)
	(10,078,753	)		(7,763,435	)		—			—			—			—			(9,620,889	)		(12,701,934	)
	—			—			—			—			—			—			—			—

	(64,722,817	)		(49,407,706	)		—			—			—			—			(179,809,066	)		(209,874,180	)

	(76,150,223	)		(49,407,706	)		(20,173,151	)		(24,914,498	)		(19,934,946	)		(20,056,070	)		(182,827,610	)		(211,364,075	)


	39,480,807			117,587,462			30,368,396			26,601,652			118,384,245			79,856,988			147,356,841			287,047,471
	76,150,223			49,407,706			20,173,151			24,914,498			19,934,946			20,056,070			182,827,610			211,364,075
	(136,380,062	)		(103,345,971	)		(80,415,801	)		(111,075,638	)		(215,191,291	)		(221,900,580	)		(280,412,628	)		(316,201,121	)

	(20,749,032	)		63,649,197			(29,874,254	)		(59,559,488	)		(76,872,100	)		(121,987,522	)		49,771,823			182,210,425

	(132,784,195	)		61,434,640			(6,541,116	)		(98,902,878	)		(83,682,746	)		(111,211,149	)		62,486,007			(844,922	)


	423,427,273			361,992,633			328,326,110			427,228,988			1,317,787,938			1,428,999,087			1,752,110,251			1,752,955,173

$	290,643,078		$	423,427,273		$	321,784,994		$	328,326,110		$	1,234,105,192		$	1,317,787,938		$	1,814,596,258		$	1,752,110,251

$	(207,735	)	$	11,704,604		$	18,064,801		$	20,098,553		$	20,907,509		$	19,001,664		$	20,852		$	777,579

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


		203

Hartford HLS Funds

Statements of Changes in Net Assets – (continued)


	Hartford MidCap Value HLS Fund
	For the Year Ended December 31, 2016			For the Year Ended December 31, 2015
Operations:
Net investment income (loss)	$	1,996,770		$	1,867,941
Net realized gain (loss) on investments, other financial instruments and foreign currency transactions		25,084,498			49,312,834
Net changes in unrealized appreciation (depreciation) of investments and foreign currency transactions		16,075,619			(53,904,920	)

Net Increase (Decrease) in Net Assets Resulting from Operations		43,156,887			(2,724,145	)

Distributions to Shareholders:
From net investment income
Class IA		(1,470,383	)		(1,833,760	)
Class IB		(198,851	)		(310,161	)

Total from net investment income		(1,669,234	)		(2,143,921	)

From net realized gain on investments
Class IA		(37,432,863	)		(44,253,137	)
Class IB		(11,765,923	)		(14,602,875	)

Total from net realized gain on investments		(49,198,786	)		(58,856,012	)

Total distributions		(50,868,020	)		(60,999,933	)

Capital Share Transactions:
Sold		6,844,502			8,423,245
Issued on reinvestment of distributions		50,868,020			60,999,933
Redeemed		(53,319,463	)		(78,708,045	)

Net increase (decrease) from capital share transactions		4,393,059			(9,284,867	)

Net Increase (Decrease) in Net Assets		(3,318,074	)		(73,008,945	)

Net Assets:
Beginning of period		382,894,110			455,903,055

End of period	$	379,576,036		$	382,894,110

Undistributed (distributions in excess of) net investment income	$	1,962,506		$	890,780

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


		204

Hartford HLS Funds

Statements of Changes in Net Assets – (continued)


Hartford Small Cap Growth HLS Fund						Hartford Small Company HLS Fund						Hartford Small/Mid Cap Equity HLS Fund						Hartford Stock HLS Fund
For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015

$	1,334,994		$	1,700,575		$	(1,080,338	)	$	(1,780,496	)	$	1,102,714		$	1,511,474		$	25,417,540		$	29,935,718
	(13,449,629	)		46,029,721			(87,580,547	)		88,028,225			2,737,265			5,335,316			123,117,444			154,995,290
	143,613,864			(76,627,391	)		85,596,013			(198,111,583	)		9,923,513			(11,517,750	)		(42,576,110	)		(142,060,258	)

	131,499,229			(28,897,095	)		(3,064,872	)		(111,863,854	)		13,763,492			(4,670,960	)		105,958,874			42,870,750



	(1,321,239	)		(562,638	)		—			—			(1,054,630	)		(1,119,387	)		(24,394,377	)		(25,254,549	)
	—			—			—			—			(154,757	)		(189,421	)		(2,241,103	)		(2,429,965	)

	(1,321,239	)		(562,638	)		—			—			(1,209,387	)		(1,308,808	)		(26,635,480	)		(27,684,514	)


	(40,160,906	)		(74,730,595	)		(87,123,722	)		(235,415,969	)		(4,735,022	)		(14,586,015	)		—			—
	(9,586,481	)		(23,707,028	)		(9,078,306	)		(22,082,672	)		(928,660	)		(3,233,544	)		—			—

	(49,747,387	)		(98,437,623	)		(96,202,028	)		(257,498,641	)		(5,663,682	)		(17,819,559	)		—			—

	(51,068,626	)		(99,000,261	)		(96,202,028	)		(257,498,641	)		(6,873,069	)		(19,128,367	)		(26,635,480	)		(27,684,514	)


	187,804,800			681,534,004			83,849,278			166,334,124			13,915,582			4,931,280			17,279,764			9,402,151
	45,817,119			99,000,261			96,202,028			257,498,641			6,873,069			19,128,367			26,635,480			27,684,514
	(238,282,637	)		(201,704,918	)		(389,910,318	)		(241,524,090	)		(18,682,136	)		(25,688,609	)		(214,128,274	)		(243,328,995	)

	(4,660,718	)		578,829,347			(209,859,012	)		182,308,675			2,106,515			(1,628,962	)		(170,213,030	)		(206,242,330	)

	75,769,885			450,931,991			(309,125,912	)		(187,053,820	)		8,996,938			(25,428,289	)		(90,889,636	)		(191,056,094	)


	1,123,362,422			672,430,431			1,216,278,326			1,403,332,146			95,879,890			121,308,179			1,543,832,923			1,734,889,017

$	1,199,132,307		$	1,123,362,422		$	907,152,414		$	1,216,278,326		$	104,876,828		$	95,879,890		$	1,452,943,287		$	1,543,832,923

$	1,097,782		$	1,318,657		$	—		$	—		$	1,102,708		$	1,254,573		$	724,929		$	2,566,050

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


		205

Hartford HLS Funds

Statements of Changes in Net Assets – (continued)


	Hartford Total Return Bond HLS Fund
	For the Year Ended December 31, 2016			For the Year Ended December 31, 2015
Operations:
Net investment income (loss)	$	82,471,555		$	86,322,024
Net realized gain (loss) on investments, other financial instruments and foreign currency transactions		(32,141,795	)		(4,544,619	)
Net changes in unrealized appreciation (depreciation) of investments, other financial instruments and foreign currency transactions		67,926,043			(96,333,497	)

Net Increase (Decrease) in Net Assets Resulting from Operations		118,255,803			(14,556,092	)

Distributions to Shareholders:
From net investment income
Class IA		(59,076,184	)		(81,109,076	)
Class IB		(6,394,079	)		(8,982,691	)

Total from net investment income		(65,470,263	)		(90,091,767	)

From net realized gain on investments
Class IA		(8,917,940	)		(63,383,205	)
Class IB		(1,089,963	)		(7,785,123	)

Total from net realized gain on investments		(10,007,903	)		(71,168,328	)

Total distributions		(75,478,166	)		(161,260,095	)

Capital Share Transactions:
Sold		108,664,980			124,109,254
Issued on reinvestment of distributions		75,478,166			161,260,095
Redeemed		(463,514,702	)		(605,905,708	)

Net decrease from capital share transactions		(279,371,556	)		(320,536,359	)

Net Increase (Decrease) in Net Assets		(236,593,919	)		(496,352,546	)

Net Assets:
Beginning of period		2,743,286,277			3,239,638,823

End of period	$	2,506,692,358		$	2,743,286,277

Undistributed (distributions in excess of) net investment income	$	69,347,138		$	66,990,645

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


		206

Hartford HLS Funds

Statements of Changes in Net Assets – (continued)


Hartford Ultrashort Bond HLS Fund						Hartford U.S. Government Securities HLS Fund						Hartford Value HLS Fund
For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015			For the Year Ended December 31, 2016			For the Year Ended December 31, 2015

$	3,758,059		$	2,291,768		$	8,073,460		$	7,999,122		$	9,222,617		$	8,732,298
	133,001			6,610			6,902,934			6,709,375			35,938,666			66,859,209
	1,981,446			(1,395,680	)		(6,553,709	)		(6,286,185	)		20,356,805			(92,712,676	)

	5,872,506			902,698			8,422,685			8,422,312			65,518,088			(17,121,169	)



	(2,551,645	)		(2,080,640	)		(7,582,207	)		(7,889,540	)		(7,538,457	)		(7,270,798	)
	(120,504	)		—			(1,447,270	)		(1,434,327	)		(1,123,156	)		(1,103,600	)

	(2,672,149	)		(2,080,640	)		(9,029,477	)		(9,323,867	)		(8,661,613	)		(8,374,398	)


	—			(63,898	)		—			—			(55,148,630	)		(15,308,517	)
	—			(10,342	)		—			—			(9,603,547	)		(2,826,296	)

	—			(74,240	)		—			—			(64,752,177	)		(18,134,813	)

	(2,672,149	)		(2,154,880	)		(9,029,477	)		(9,323,867	)		(73,413,790	)		(26,509,211	)


	50,997,507			56,291,513			51,813,891			42,133,789			14,794,864			42,392,764
	2,672,149			2,154,880			9,029,477			9,323,867			73,413,790			26,509,211
	(153,178,306	)		(215,901,855	)		(114,156,260	)		(119,610,042	)		(91,871,378	)		(111,574,821	)

	(99,508,650	)		(157,455,462	)		(53,312,892	)		(68,152,386	)		(3,662,724	)		(42,672,846	)

	(96,308,293	)		(158,707,644	)		(53,919,684	)		(69,053,941	)		(11,558,426	)		(86,303,226	)


	708,057,590			866,765,234			502,147,811			571,201,752			535,765,099			622,068,325

$	611,749,297		$	708,057,590		$	448,228,127		$	502,147,811		$	524,206,673		$	535,765,099

$	4,216,358		$	2,672,136		$	8,912,051		$	9,029,448		$	879,487		$	781,816

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


		207

Hartford HLS Funds

Financial Highlights


	*— Selected Per-Share Data⁽¹⁾ —*																								*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford Balanced HLS Fund
For the Year Ended December 31, 2016
IA	$	26.62	$	0.56	$	1.05		$	1.61		$	(0.77	)	$	—		$	(0.77	)	$	27.46		6.04	%	$	2,043,556		0.66	%		0.64	%		2.05	%		25	%
IB		26.99		0.50		1.07			1.57			(0.70	)		—			(0.70	)		27.86		5.79			275,925		0.91			0.89			1.80			25

For the Year Ended December 31, 2015
IA	$	27.09	$	0.51	$	(0.46	)	$	0.05		$	(0.52	)	$	—		$	(0.52	)	$	26.62		0.18	%	$	2,210,938		0.65	%		0.63	%		1.87	%		18	%
IB		27.45		0.45		(0.47	)		(0.02	)		(0.44	)		—			(0.44	)		26.99		(0.07	)		300,945		0.90			0.88			1.62			18

For the Year Ended December 31, 2014
IA	$	25.11	$	0.45	$	2.01		$	2.46		$	(0.48	)	$	—		$	(0.48	)	$	27.09		9.79	%	$	2,561,814		0.65	%		0.65	%		1.73	%		29	%
IB		25.44		0.39		2.03			2.42			(0.41	)		—			(0.41	)		27.45		9.51			362,210		0.90			0.90			1.49			29

For the Year Ended December 31, 2013
IA	$	21.03	$	0.41	$	4.04		$	4.45		$	(0.37	)	$	—		$	(0.37	)	$	25.11		21.19	%	$	2,782,698		0.65	%		0.65	%		1.75	%		31	%
IB		21.30		0.35		4.10			4.45			(0.31	)		—			(0.31	)		25.44		20.88			399,681		0.90			0.90			1.50			31

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	19.34	$	0.47	$	1.85		$	2.32		$	(0.63	)	$	—		$	(0.63	)	$	21.03		12.02	%	$	2,754,114		0.65	%		0.65	%		1.98	%		28	%
IB		19.58		0.43		1.86			2.29			(0.57	)		—			(0.57	)		21.30		11.74			406,156		0.90			0.90			1.73			28

Hartford Capital Appreciation HLS Fund
For the Year Ended December 31, 2016
IA	$	44.44	$	0.41	$	1.94		$	2.35		$	(0.47	)	$	(4.27	)	$	(4.74	)	$	42.05		5.52	%	$	4,555,454		0.68	%		0.68	%		0.97	%		103	%
IB		43.93		0.30		1.90			2.20			(0.36	)		(4.27	)		(4.63	)		41.50		5.24			558,022		0.93			0.93			0.72			103
IC		44.21		0.19		1.92			2.11			(0.29	)		(4.27	)		(4.56	)		41.76		4.99			21,579		1.18			1.18			0.46			103

For the Year Ended December 31, 2015
IA	$	54.71	$	0.43	$	0.38		$	0.81		$	(0.43	)	$	(10.65	)	$	(11.08	)	$	44.44		1.02	%	$	5,701,269		0.67	%		0.67	%		0.84	%		75	%
IB		54.20		0.30		0.39			0.69			(0.31	)		(10.65	)		(10.96	)		43.93		0.79			641,548		0.92			0.92			0.59			75
IC		54.59		0.17		0.39			0.56			(0.29	)		(10.65	)		(10.94	)		44.21		0.53			16,215		1.17			1.17			0.34			75

For the Year Ended December 31, 2014
IA	$	59.65	$	0.56	$	3.81		$	4.37		$	(0.50	)	$	(8.81	)	$	(9.31	)	$	54.71		7.31	%	$	6,470,599		0.66	%		0.66	%		0.96	%		89	%
IB		59.18		0.42		3.77			4.19			(0.36	)		(8.81	)		(9.17	)		54.20		7.04			764,541		0.91			0.91			0.72			89
IC⁽⁵⁾		60.21		0.09		3.53			3.62			(0.43	)		(8.81	)		(9.24	)		54.59		5.97	⁽⁶⁾		3,453		1.16	⁽⁷⁾		1.16	⁽⁷⁾		0.23	⁽⁷⁾		89

For the Year Ended December 31, 2013
IA	$	43.37	$	0.45	$	16.49		$	16.94		$	(0.51	)	$	(0.15	)	$	(0.66	)	$	59.65		39.08	%	$	7,029,201		0.67	%		0.67	%		0.88	%		86	%
IB		43.05		0.32		16.33			16.65			(0.37	)		(0.15	)		(0.52	)		59.18		38.72			969,611		0.92			0.92			0.63			86

For the Year Ended December 31, 2012
IA	$	37.20	$	0.57	$	6.24		$	6.81		$	(0.64	)	$	—		$	(0.64	)	$	43.37		18.34	%	$	7,750,924		0.67	%		0.67	%		1.24	%		142	%
IB		36.90		0.52		6.14			6.66			(0.51	)		—			(0.51	)		43.05		18.04			874,386		0.92			0.92			0.99			142

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


		208

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																								*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford Disciplined Equity HLS Fund
For the Year Ended December 31, 2016
IA	$	15.58	$	0.11	$	0.77		$	0.88		$	(0.13	)	$	(2.03	)	$	(2.16	)	$	14.30		5.76	%	$	587,089		0.79	%		0.79	%		0.76	%		33	%
IB		15.46		0.08		0.75			0.83			(0.09	)		(2.03	)		(2.12	)		14.17		5.49			81,304		1.04			1.04			0.51			33

For the Year Ended December 31, 2015
IA	$	20.99	$	0.14	$	1.41		$	1.55		$	(0.13	)	$	(6.83	)	$	(6.96	)	$	15.58		6.83	%	$	648,747		0.76	%		0.76	%		0.76	%		29	%
IB		20.88		0.10		1.40			1.50			(0.09	)		(6.83	)		(6.92	)		15.46		6.59			91,844		1.01			1.01			0.51			29

For the Year Ended December 31, 2014
IA	$	18.36	$	0.14	$	2.83		$	2.97		$	(0.14	)	$	(0.20	)	$	(0.34	)	$	20.99		16.18	%	$	734,110		0.75	%		0.75	%		0.73	%		63	%
IB		18.27		0.09		2.81			2.90			(0.09	)		(0.20	)		(0.29	)		20.88		15.87			107,577		1.00			1.00			0.47			63

For the Year Ended December 31, 2013
IA	$	13.64	$	0.17	$	4.72		$	4.89		$	(0.17	)	$	—		$	(0.17	)	$	18.36		35.82	%	$	811,099		0.76	%		0.76	%		1.07	%		23	%
IB		13.58		0.13		4.68			4.81			(0.12	)		—			(0.12	)		18.27		35.47			118,598		1.01			1.01			0.82			23

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	11.78	$	0.22	$	1.86		$	2.08		$	(0.22	)	$	—		$	(0.22	)	$	13.64		17.62	%	$	798,148		0.75	%		0.75	%		1.45	%		34	%
IB		11.73		0.18		1.85			2.03			(0.18	)		—			(0.18	)		13.58		17.33			116,113		1.00			1.00			1.20			34

Hartford Dividend and Growth HLS Fund
For the Year Ended December 31, 2016
IA	$	22.09	$	0.43	$	2.67		$	3.10		$	(0.44	)	$	(2.65	)	$	(3.09	)	$	22.10		14.89	%	$	3,013,788		0.69	%		0.69	%		1.98	%		20	%
IB		22.02		0.38		2.65			3.03			(0.39	)		(2.65	)		(3.04	)		22.01		14.58			438,200		0.94			0.94			1.73			20

For the Year Ended December 31, 2015
IA	$	26.45	$	0.46	$	(0.70	)	$	(0.24	)	$	(0.43	)	$	(3.69	)	$	(4.12	)	$	22.09		(1.16	)%	$	2,991,811		0.67	%		0.67	%		1.84	%		20	%
IB		26.38		0.40		(0.70	)		(0.30	)		(0.37	)		(3.69	)		(4.06	)		22.02		(1.41	)		449,693		0.92			0.92			1.59			20

For the Year Ended December 31, 2014
IA	$	27.05	$	0.49	$	2.92		$	3.41		$	(0.49	)	$	(3.52	)	$	(4.01	)	$	26.45		12.96	%	$	3,502,492		0.67	%		0.67	%		1.78	%		19	%
IB		26.99		0.42		2.91			3.33			(0.42	)		(3.52	)		(3.94	)		26.38		12.68			546,006		0.92			0.92			1.53			19

For the Year Ended December 31, 2013
IA	$	21.46	$	0.46	$	6.33		$	6.79		$	(0.51	)	$	(0.69	)	$	(1.20	)	$	27.05		31.92	%	$	3,760,183		0.67	%		0.67	%		1.88	%		25	%
IB		21.42		0.40		6.31			6.71			(0.45	)		(0.69	)		(1.14	)		26.99		31.58			621,751		0.92			0.92			1.62			25

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	19.34	$	0.49	$	2.13		$	2.62		$	(0.50	)	$	—		$	(0.50	)	$	21.46		13.59	%	$	3,658,076		0.67	%		0.67	%		2.13	%		20	%
IB		19.30		0.45		2.11			2.56			(0.44	)		—			(0.44	)		21.42		13.31			589,194		0.92			0.92			1.88			20

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


		209

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																									*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)			Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford Global Growth HLS Fund
For the Year Ended December 31, 2016
IA	$	24.39	$	0.13		$	0.40		$	0.53		$	(0.17	)	$	(2.61	)	$	(2.78	)	$	22.14		1.95	%	$	347,375		0.82	%		0.82	%		0.55	%		65	%
IB		24.19		0.07			0.39			0.46			(0.09	)		(2.61	)		(2.70	)		21.95		1.71			72,531		1.07			1.07			0.30			65

For the Year Ended December 31, 2015
IA	$	23.74	$	0.15		$	1.77		$	1.92		$	(0.13	)	$	(1.14	)	$	(1.27	)	$	24.39		8.04	%	$	392,302		0.81	%		0.81	%		0.62	%		67	%
IB		23.56		0.09			1.75			1.84			(0.07	)		(1.14	)		(1.21	)		24.19		7.76			86,759		1.06			1.06			0.38			67

For the Year Ended December 31, 2014
IA	$	22.33	$	0.13		$	1.39		$	1.52		$	(0.11	)	$	—		$	(0.11	)	$	23.74		6.79	%	$	388,542		0.81	%		0.81	%		0.57	%		82	%⁽⁸⁾
IB		22.16		0.07			1.39			1.46			(0.06	)		—			(0.06	)		23.56		6.58			92,979		1.06			1.06			0.30			82	⁽⁸⁾

For the Year Ended December 31, 2013
IA	$	16.50	$	0.11		$	5.86		$	5.97		$	(0.14	)	$	—		$	(0.14	)	$	22.33		36.30	%	$	360,086		0.82	%		0.82	%		0.56	%		71	%
IB		16.38		0.06			5.81			5.87			(0.09	)		—			(0.09	)		22.16		35.90			79,823		1.07			1.07			0.32			71

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	13.45	$	0.14		$	3.00		$	3.14		$	(0.09	)	$	—		$	(0.09	)	$	16.50		23.41	%	$	321,371		0.82	%		0.82	%		0.73	%		108	%
IB		13.34		0.09			2.99			3.08			(0.04	)		—			(0.04	)		16.38		23.10			77,224		1.07			1.07			0.47			108

Hartford Growth Opportunities HLS Fund
For the Year Ended December 31, 2016
IA	$	34.86	$	(0.04	)	$	0.06	⁽⁹⁾	$	0.02		$	(0.15	)	$	(4.90	)	$	(5.05	)	$	29.83		(0.49	)%	$	1,145,176		0.65	%		0.65	%		(0.11	)%		138	%
IB		33.76		(0.11	)		0.04	⁽⁹⁾		(0.07	)		(0.05	)		(4.90	)		(4.95	)		28.74		(0.77	)		132,149		0.90			0.90			(0.35	)		138
IC		34.57		(0.19	)		0.04	⁽⁹⁾		(0.15	)		(0.09	)		(4.90	)		(4.99	)		29.43		(1.01	)		25,550		1.15			1.15			(0.61	)		138

For the Year Ended December 31, 2015
IA	$	38.88	$	0.02		$	4.66		$	4.68		$	(0.05	)	$	(8.65	)	$	(8.70	)	$	34.86		11.74	%	$	1,197,187		0.65	%		0.65	%		0.05	%		109	%
IB		37.93		(0.08	)		4.56			4.48			—			(8.65	)		(8.65	)		33.76		11.47			158,304		0.90			0.90			(0.20	)		109
IC		38.75		(0.18	)		4.65			4.47			—			(8.65	)		(8.65	)		34.57		11.18			20,495		1.16			1.16			(0.48	)		109

For the Year Ended December 31, 2014
IA	$	40.58	$	0.06		$	5.31		$	5.37		$	(0.07	)	$	(7.00	)	$	(7.07	)	$	38.88		14.14	%	$	1,203,366		0.64	%		0.64	%		0.16	%		145	%⁽¹⁰⁾
IB		39.79		(0.04	)		5.18			5.14			—			(7.00	)		(7.00	)		37.93		13.82			160,040		0.89			0.89			(0.11	)		145	⁽¹⁰⁾
IC⁽⁵⁾		40.23		(0.10	)		5.69			5.59			(0.07	)		(7.00	)		(7.07	)		38.75		14.79	⁽⁶⁾		1,717		1.14	⁽⁷⁾		1.14	⁽⁷⁾		(0.37	)⁽⁷⁾		145	⁽¹⁰⁾

For the Year Ended December 31, 2013
IA	$	29.90	$	0.07		$	10.61		$	10.68		$	—		$	—		$	—		$	40.58		35.74	%	$	1,097,380		0.65	%		0.65	%		0.21	%		119	%
IB		29.38		(0.01	)		10.42			10.41			—			—			—			39.79		35.42			111,230		0.90			0.90			(0.04	)		119

For the Year Ended December 31, 2012
IA	$	23.57	$	0.03		$	6.30		$	6.33		$	—		$	—		$	—		$	29.90		26.86	%	$	951,372		0.65	%		0.65	%		0.11	%		105	%
IB		23.22		(0.05	)		6.21			6.16			—			—			—			29.38		26.54			108,506		0.90			0.90			(0.15	)		105

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


		210

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																									*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)			Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford Healthcare HLS Fund
For the Year Ended December 31, 2016
IA	$	30.32	$	0.01		$	(2.37	)	$	(2.36	)	$	(0.99	)	$	(5.51	)	$	(6.50	)	$	21.46		(8.39	)%	$	246,494		0.89	%		0.89	%		0.05	%		36	%
IB		29.36		(0.05	)		(2.30	)		(2.35	)		(0.90	)		(5.51	)		(6.41	)		20.60		(8.64	)		44,149		1.14			1.14			(0.20	)		36

For the Year Ended December 31, 2015
IA	$	30.02	$	—		$	4.08		$	4.08		$	—		$	(3.78	)	$	(3.78	)	$	30.32		13.21	%	$	360,783		0.86	%		0.86	%		(0.01	)%		38	%
IB		29.23		(0.08	)		3.99			3.91			—			(3.78	)		(3.78	)		29.36		12.98			62,644		1.11			1.11			(0.26	)		38

For the Year Ended December 31, 2014
IA	$	25.67	$	0.01		$	6.75		$	6.76		$	(0.07	)	$	(2.34	)	$	(2.41	)	$	30.02		27.39	%	$	301,580		0.88	%		0.88	%		0.03	%		33	%
IB		25.07		(0.06	)		6.57			6.51			(0.01	)		(2.34	)		(2.35	)		29.23		27.00			60,413		1.13			1.13			(0.22	)		33

For the Year Ended December 31, 2013
IA	$	18.11	$	0.04		$	9.12		$	9.16		$	(0.12	)	$	(1.48	)	$	(1.60	)	$	25.67		51.84	%	$	243,719		0.89	%		0.89	%		0.19	%		33	%
IB		17.71		(0.01	)		8.92			8.91			(0.07	)		(1.48	)		(1.55	)		25.07		51.50			57,187		1.14			1.14			(0.06	)		33

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	15.07	$	0.13		$	2.98		$	3.11		$	(0.07	)	$	—		$	(0.07	)	$	18.11		20.62	%	$	149,801		0.91	%		0.91	%		0.69	%		46	%
IB		14.74		0.09			2.90			2.99			(0.02	)		—			(0.02	)		17.71		20.32			45,306		1.16			1.16			0.43			46

Hartford High Yield HLS Fund
For the Year Ended December 31, 2016
IA	$	7.55	$	0.44		$	0.62		$	1.06		$	(0.50	)	$	—		$	(0.50	)	$	8.11		14.25	%	$	244,212		0.79	%		0.79	%		5.52	%		41	%
IB		7.43		0.41			0.62			1.03			(0.48	)		—			(0.48	)		7.98		13.99			77,573		1.04			1.04			5.27			41

For the Year Ended December 31, 2015
IA	$	8.45	$	0.45		$	(0.79	)	$	(0.34	)	$	(0.56	)	$	—		$	(0.56	)	$	7.55		(4.30	)%	$	251,313		0.76	%		0.76	%		5.40	%		34	%
IB		8.32		0.42			(0.77	)		(0.35	)		(0.54	)		—			(0.54	)		7.43		(4.56	)		77,013		1.01			1.01			5.15			34

For the Year Ended December 31, 2014
IA	$	8.90	$	0.47		$	(0.22	)	$	0.25		$	(0.70	)	$	—		$	(0.70	)	$	8.45		2.58	%	$	321,650		0.75	%		0.75	%		5.28	%		39	%
IB		8.77		0.44			(0.22	)		0.22			(0.67	)		—			(0.67	)		8.32		2.31			105,579		1.00			1.00			5.02			39

For the Year Ended December 31, 2013
IA	$	9.09	$	0.54		$	0.01		$	0.55		$	(0.74	)	$	—		$	(0.74	)	$	8.90		6.43	%	$	389,340		0.75	%		0.75	%		5.90	%		46	%
IB		8.96		0.50			0.03			0.53			(0.72	)		—			(0.72	)		8.77		6.17			125,701		1.00			1.00			5.64			46

For the Year Ended December 31, 2012
IA	$	8.70	$	0.58		$	0.63		$	1.21		$	(0.82	)	$	—		$	(0.82	)	$	9.09		14.31	%	$	504,042		0.75	%		0.75	%		6.37	%		94	%
IB		8.59		0.55			0.62			1.17			(0.80	)		—			(0.80	)		8.96		14.03			149,050		1.00			1.00			6.12			94

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


		211

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																									*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)			Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford International Opportunities HLS Fund
For the Year Ended December 31, 2016
IA	$	14.19	$	0.24		$	(0.06	)	$	0.18		$	(0.23	)	$	—		$	(0.23	)	$	14.14		1.26	%	$	1,086,762		0.76	%		0.76	%		1.74	%		95	%
IB		14.36		0.21			(0.07	)		0.14			(0.19	)		—			(0.19	)		14.31		0.94			147,343		1.01			1.01			1.50			95

For the Year Ended December 31, 2015
IA	$	14.13	$	0.22		$	0.06		$	0.28		$	(0.22	)	$	—		$	(0.22	)	$	14.19		1.88	%	$	1,146,250		0.74	%		0.74	%		1.47	%		68	%
IB		14.29		0.18			0.06			0.24			(0.17	)		—			(0.17	)		14.36		1.65			171,538		0.99			0.99			1.21			68

For the Year Ended December 31, 2014
IA	$	15.03	$	0.19		$	(0.75	)	$	(0.56	)	$	(0.34	)	$	—		$	(0.34	)	$	14.13		(3.87	)%	$	1,239,946		0.73	%		0.73	%		1.30	%		90	%
IB		15.20		0.15			(0.76	)		(0.61	)		(0.30	)		—			(0.30	)		14.29		(4.14	)		189,053		0.98			0.98			1.02			90

For the Year Ended December 31, 2013
IA	$	12.63	$	0.24		$	2.45		$	2.69		$	(0.29	)	$	—		$	(0.29	)	$	15.03		21.55	%	$	1,454,018		0.74	%		0.74	%		1.76	%		100	%
IB		12.76		0.21			2.49			2.70			(0.26	)		—			(0.26	)		15.20		21.28			215,447		0.99			0.99			1.55			100

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	10.72	$	0.26		$	1.88		$	2.14		$	(0.23	)	$	—		$	(0.23	)	$	12.63		20.20	%	$	1,303,209		0.74	%		0.74	%		1.88	%		95	%
IB		10.82		0.25			1.88			2.13			(0.19	)		—			(0.19	)		12.76		19.89			220,699		0.99			0.99			1.64			95

Hartford MidCap HLS Fund
For the Year Ended December 31, 2016
IA	$	33.66	$	0.05		$	3.80		$	3.85		$	(0.06	)	$	(3.62	)	$	(3.68	)	$	33.83		11.98	%	$	1,721,029		0.71	%		0.71	%		0.16	%		32	%
IB		33.11		(0.03	)		3.72			3.69			(0.01	)		(3.62	)		(3.63	)		33.17		11.69			93,567		0.96			0.96			(0.09	)		32

For the Year Ended December 31, 2015
IA	$	37.28	$	0.03		$	0.83		$	0.86		$	(0.03	)	$	(4.45	)	$	(4.48	)	$	33.66		1.60	%	$	1,647,715		0.70	%		0.70	%		0.08	%		38	%
IB		36.83		(0.06	)		0.82			0.76			(0.03	)		(4.45	)		(4.48	)		33.11		1.34			104,395		0.95			0.95			(0.16	)		38

For the Year Ended December 31, 2014
IA	$	37.87	$	0.04		$	4.22		$	4.26		$	(0.04	)	$	(4.81	)	$	(4.85	)	$	37.28		11.37	%	$	1,669,393		0.70	%		0.70	%		0.10	%		42	%
IB		37.52		(0.06	)		4.18			4.12			—			(4.81	)		(4.81	)		36.83		11.09			83,562		0.95			0.95			(0.15	)		42

For the Year Ended December 31, 2013
IA	$	28.16	$	0.07		$	11.02		$	11.09		$	(0.04	)	$	(1.34	)	$	(1.38	)	$	37.87		39.82	%	$	1,483,626		0.71	%		0.71	%		0.21	%		34	%
IB		27.95		(0.02	)		10.94			10.92			(0.01	)		(1.34	)		(1.35	)		37.52		39.46			82,483		0.96			0.96			(0.05	)		34

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	23.77	$	0.24		$	4.38		$	4.62		$	(0.23	)	$	—		$	(0.23	)	$	28.16		19.44	%	$	1,325,221		0.71	%		0.71	%		0.84	%		51	%
IB		23.59		0.17			4.35			4.52			(0.16	)		—			(0.16	)		27.95		19.14			70,997		0.96			0.96			0.59			51

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


		212

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																									*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)			Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford MidCap Value HLS Fund
For the Year Ended December 31, 2016
IA	$	12.33	$	0.07		$	1.40		$	1.47		$	(0.07	)	$	(1.73	)	$	(1.80	)	$	12.00		12.82	%	$	289,872		0.86	%		0.86	%		0.61	%		38	%
IB		12.24		0.04			1.39			1.43			(0.03	)		(1.73	)		(1.76	)		11.91		12.56			89,704		1.11			1.11			0.36			38

For the Year Ended December 31, 2015
IA	$	14.60	$	0.07		$	(0.15	)	$	(0.08	)	$	(0.09	)	$	(2.10	)	$	(2.19	)	$	12.33		(1.21	)%	$	291,174		0.84	%		0.84	%		0.49	%		29	%
IB		14.50		0.03			(0.15	)		(0.12	)		(0.04	)		(2.10	)		(2.14	)		12.24		(1.45	)		91,720		1.09			1.09			0.24			29

For the Year Ended December 31, 2014
IA	$	15.51	$	0.09		$	1.19		$	1.28		$	(0.11	)	$	(2.08	)	$	(2.19	)	$	14.60		8.22	%	$	345,084		0.84	%		0.84	%		0.60	%		31	%
IB		15.42		0.05			1.18			1.23			(0.07	)		(2.08	)		(2.15	)		14.50		7.91			110,819		1.09			1.09			0.35			31

For the Year Ended December 31, 2013
IA	$	11.65	$	0.08		$	3.95		$	4.03		$	(0.17	)	$	—		$	(0.17	)	$	15.51		34.71	%	$	377,272		0.84	%		0.84	%		0.56	%		49	%
IB		11.59		0.04			3.93			3.97			(0.14	)		—			(0.14	)		15.42		34.37			123,884		1.09			1.09			0.31			49

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	9.44	$	0.14		$	2.20		$	2.34		$	(0.13	)	$	—		$	(0.13	)	$	11.65		24.95	%	$	323,934		0.85	%		0.85	%		1.03	%		45	%
IB		9.38		0.10			2.21			2.31			(0.10	)		—			(0.10	)		11.59		24.64			112,996		1.10			1.10			0.79			45

Hartford Small Cap Growth HLS Fund
For the Year Ended December 31, 2016
IA	$	24.93	$	0.04		$	2.98		$	3.02		$	(0.04	)	$	(1.14	)	$	(1.18	)	$	26.77		12.37	%	$	972,576		0.65	%		0.65	%		0.17	%		51	%
IB		24.38		(0.02	)		2.90			2.88			—			(1.14	)		(1.14	)		26.12		12.08			226,557		0.90			0.90			(0.08	)		51

For the Year Ended December 31, 2015
IA	$	27.95	$	0.07		$	(0.02	)	$	0.05		$	(0.02	)	$	(3.05	)	$	(3.07	)	$	24.93		(0.55	)%	$	913,414		0.65	%		0.65	%		0.25	%		59	%
IB		27.44		(0.01	)		—			(0.01	)		—			(3.05	)		(3.05	)		24.38		(0.79	)		209,948		0.90			0.90			(0.03	)		59

For the Year Ended December 31, 2014
IA	$	32.60	$	0.06		$	1.48		$	1.54		$	(0.02	)	$	(6.17	)	$	(6.19	)	$	27.95		5.83	%	$	557,200		0.65	%		0.65	%		0.19	%		117	%
IB		32.17		(0.02	)		1.46			1.44			—			(6.17	)		(6.17	)		27.44		5.57			115,230		0.90			0.90			(0.06	)		117

For the Year Ended December 31, 2013
IA	$	25.44	$	0.05		$	10.92		$	10.97		$	(0.12	)	$	(3.69	)	$	(3.81	)	$	32.60		44.87	%	$	466,173		0.67	%		0.67	%		0.16	%		81	%
IB		25.14		(0.02	)		10.77			10.75			(0.03	)		(3.69	)		(3.72	)		32.17		44.50			123,966		0.92			0.92			(0.08	)		81

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	21.67	$	0.11		$	3.66		$	3.77		$	—		$	—		$	—		$	25.44		17.40	%	$	378,318		0.67	%		0.67	%		0.41	%		85	%
IB		21.47		0.04			3.63			3.67			—			—			—			25.14		17.10			134,404		0.92			0.92			0.16			85

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


		213

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																									*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)			Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford Small Company HLS Fund
For the Year Ended December 31, 2016
IA	$	17.52	$	(0.01	)	$	0.33	⁽⁹⁾	$	0.32		$	—		$	(1.68	)	$	(1.68	)	$	16.16		2.04	%	$	834,044		0.76	%		0.76	%		(0.08	)%		94	%
IB		16.47		(0.05	)		0.31	⁽⁹⁾		0.26			—			(1.68	)		(1.68	)		15.05		1.81			73,108		1.01			1.01			(0.34	)		94

For the Year Ended December 31, 2015
IA	$	23.33	$	(0.02	)	$	(1.43	)	$	(1.45	)	$	—		$	(4.36	)	$	(4.36	)	$	17.52		(8.21	)%	$	1,117,778		0.71	%		0.71	%		(0.11	)%		88	%
IB		22.24		(0.07	)		(1.34	)		(1.41	)		—			(4.36	)		(4.36	)		16.47		(8.45	)		98,501		0.96			0.96			(0.36	)		88

For the Year Ended December 31, 2014
IA	$	26.43	$	(0.09	)	$	1.78		$	1.69		$	—		$	(4.79	)	$	(4.79	)	$	23.33		7.07	%	$	1,279,533		0.71	%		0.71	%		(0.35	)%		90	%
IB		25.46		(0.15	)		1.72			1.57			—			(4.79	)		(4.79	)		22.24		6.85			123,799		0.96			0.96			(0.60	)		90

For the Year Ended December 31, 2013
IA	$	19.74	$	(0.07	)	$	8.60		$	8.53		$	(0.02	)	$	(1.82	)	$	(1.84	)	$	26.43		44.38	%	$	1,354,821		0.71	%		0.71	%		(0.29	)%		96	%
IB		19.06		(0.12	)		8.34			8.22			—			(1.82	)		(1.82	)		25.46		44.28			141,791		0.96			0.96			(0.54	)		96

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	17.07	$	0.03		$	2.64		$	2.67		$	—		$	—		$	—		$	19.74		15.64	%	$	1,126,350		0.72	%		0.72	%		0.16	%		110	%
IB		16.56		(0.03	)		2.53			2.50			—			—			—			19.06		15.10			117,133		0.97			0.97			(0.13	)		110

Hartford Small/Mid Cap Equity HLS Fund
For the Year Ended December 31, 2016
IA	$	7.45	$	0.09		$	1.09		$	1.18		$	(0.11	)	$	(0.49	)	$	(0.60	)	$	8.03		16.48	%	$	87,752		0.92	%		0.92	%		1.25	%		96	%
IB		7.40		0.07			1.09			1.16			(0.08	)		(0.49	)		(0.57	)		7.99		16.33			17,125		1.17			1.17			1.01			96

For the Year Ended December 31, 2015
IA	$	9.47	$	0.12		$	(0.46	)	$	(0.34	)	$	(0.12	)	$	(1.56	)	$	(1.68	)	$	7.45		(4.73	)%	$	79,379		0.88	%		0.88	%		1.39	%		80	%
IB		9.41		0.10			(0.46	)		(0.36	)		(0.09	)		(1.56	)		(1.65	)		7.40		(4.97	)		16,501		1.13			1.13			1.12			80

For the Year Ended December 31, 2014
IA	$	11.29	$	0.13		$	0.43		$	0.56		$	(0.18	)	$	(2.20	)	$	(2.38	)	$	9.47		5.22	%	$	98,069		0.85	%		0.85	%		1.20	%		108	%
IB		11.22		0.10			0.44			0.54			(0.15	)		(2.20	)		(2.35	)		9.41		5.00			23,239		1.10			1.10			0.96			108

For the Year Ended December 31, 2013
IA	$	8.90	$	0.16		$	3.08		$	3.24		$	(0.14	)	$	(0.71	)	$	(0.85	)	$	11.29		37.51	%	$	117,395		0.85	%		0.85	%		1.58	%		128	%
IB		8.85		0.13			3.07			3.20			(0.12	)		(0.71	)		(0.83	)		11.22		37.08			26,362		1.10			1.10			1.32			128

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	8.93	$	0.15		$	1.21		$	1.36		$	(0.06	)	$	(1.33	)	$	(1.39	)	$	8.90		15.87	%	$	106,339		0.88	%		0.88	%		1.57	%		150	%
IB		8.88		0.13			1.20			1.33			(0.03	)		(1.33	)		(1.36	)		8.85		15.58			24,774		1.13			1.13			1.26			150

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


		214

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																								*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford Stock HLS Fund
For the Year Ended December 31, 2016
IA	$	64.06	$	1.14	$	3.61		$	4.75		$	(1.26	)	$	—		$	(1.26	)	$	67.55		7.41	%	$	1,312,626		0.52	%		0.52	%		1.72	%		29	%
IB		64.03		0.97		3.61			4.58			(1.08	)		—			(1.08	)		67.53		7.14			140,317		0.77			0.77			1.47			29

For the Year Ended December 31, 2015
IA	$	63.49	$	1.19	$	0.56		$	1.75		$	(1.18	)	$	—		$	(1.18	)	$	64.06		2.74	%	$	1,388,110		0.51	%		0.51	%		1.86	%		23	%
IB		63.46		1.03		0.54			1.57			(1.00	)		—			(1.00	)		64.03		2.48			155,722		0.76			0.76			1.61			23

For the Year Ended December 31, 2014
IA	$	58.07	$	1.07	$	5.51		$	6.58		$	(1.16	)	$	—		$	(1.16	)	$	63.49		11.31	%	$	1,552,777		0.50	%		0.50	%		1.79	%		20	%
IB		58.04		0.92		5.50			6.42			(1.00	)		—			(1.00	)		63.46		11.04			182,112		0.75			0.75			1.54			20

For the Year Ended December 31, 2013
IA	$	44.73	$	0.99	$	13.41		$	14.40		$	(1.06	)	$	—		$	(1.06	)	$	58.07		32.25	%	$	1,667,278		0.51	%		0.51	%		1.89	%		27	%
IB		44.71		0.85		13.40			14.25			(0.92	)		—			(0.92	)		58.04		31.92			204,437		0.76			0.76			1.64			27

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	39.95	$	0.91	$	4.83		$	5.74		$	(0.96	)	$	—		$	(0.96	)	$	44.73		14.38	%	$	1,532,116		0.51	%		0.51	%		1.86	%		82	%
IB		39.92		0.82		4.81			5.63			(0.84	)		—			(0.84	)		44.71		14.10			200,153		0.76			0.76			1.61			82

Hartford Total Return Bond HLS Fund
For the Year Ended December 31, 2016
IA	$	10.93	$	0.36	$	0.13		$	0.49		$	(0.29	)	$	(0.04	)	$	(0.33	)	$	11.09		4.49	%	$	2,244,505		0.52	%		0.52	%		3.16	%		36	%
IB		10.87		0.33		0.13			0.46			(0.26	)		(0.04	)		(0.30	)		11.03		4.22			262,187		0.77			0.77			2.91			36

For the Year Ended December 31, 2015
IA	$	11.63	$	0.33	$	(0.39	)	$	(0.06	)	$	(0.36	)	$	(0.28	)	$	(0.64	)	$	10.93		(0.59	)%	$	2,448,280		0.51	%		0.51	%		2.88	%		66	%
IB		11.56		0.30		(0.39	)		(0.09	)		(0.32	)		(0.28	)		(0.60	)		10.87		(0.81	)		295,006		0.76			0.76			2.63			66

For the Year Ended December 31, 2014
IA	$	11.35	$	0.33	$	0.34		$	0.67		$	(0.39	)	$	—		$	(0.39	)	$	11.63		5.89	%	$	2,879,633		0.50	%		0.50	%		2.85	%		84	%
IB		11.27		0.30		0.34			0.64			(0.35	)		—			(0.35	)		11.56		5.68			360,006		0.75			0.75			2.60			84

For the Year Ended December 31, 2013
IA	$	11.99	$	0.32	$	(0.49	)	$	(0.17	)	$	(0.47	)	$	—		$	(0.47	)	$	11.35		(1.36	)%	$	3,290,622		0.50	%		0.50	%		2.76	%		81	%
IB		11.91		0.29		(0.50	)		(0.21	)		(0.43	)		—			(0.43	)		11.27		(1.66	)		414,910		0.75			0.75			2.51			81

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	11.63	$	0.41	$	0.45		$	0.86		$	(0.50	)	$	—		$	(0.50	)	$	11.99		7.54	%	$	3,572,511		0.50	%		0.50	%		3.01	%		88	%
IB		11.55		0.40		0.43			0.83			(0.47	)		—			(0.47	)		11.91		7.27			566,274		0.75			0.75			2.76			88

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


		215

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																								*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)			Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains		Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford Ultrashort Bond HLS Fund
For the Year Ended December 31, 2016
IA	$	9.99	$	0.06		$	0.04		$	0.10		$	(0.05	)	$	—	$	(0.05	)	$	10.04		0.97	%	$	533,091		0.45	%		0.45	%		0.61	%		51	%
IB		9.97		0.04			0.02			0.06			(0.01	)		—		(0.01	)		10.02		0.64			78,658		0.70			0.70			0.35			51

For the Year Ended December 31, 2015
IA	$	10.01	$	0.03		$	(0.02	)	$	0.01		$	(0.03	)	$	—	$	(0.03	)	$	9.99		0.13	%	$	611,087		0.43	%		0.43	%		0.33	%		35	%
IB		9.98		0.01			(0.02	)		(0.01	)		—			—		—			9.97		(0.09	)		96,970		0.68			0.68			0.08			35

For the Year Ended December 31, 2014
IA	$	10.00	$	0.02		$	(0.01	)	$	0.01		$	—		$	—	$	—		$	10.01		0.10	%	$	745,597		0.43	%		0.43	%		0.23	%		40	%
IB		9.99		—			(0.01	)		(0.01	)		—			—		—			9.98		(0.10	)		121,168		0.68			0.68			(0.02	)		40

For the Year Ended December 31, 2013^(4)(11)
IA	$	10.00	$	—		$	—		$	—		$	—		$	—	$	—		$	10.00		—	%	$	1,013,110		0.45	%		0.21	%		(0.02	)%		6	%⁽¹²⁾
IB		10.00		(0.01	)		—			(0.01	)		—			—		—			9.99		(0.10	)		163,058		0.49			0.25			(0.06	)		6	⁽¹²⁾

For the Year Ended December 31, 2012^(4)(11)
IA	$	10.00	$	—		$	—		$	—		$	—		$	—	$	—		$	10.00		—	%	$	1,603,657		0.42	%		0.18	%		—	%		—	%⁽¹³⁾
IB		10.00		—			—			—			—			—		—			10.00		—			272,464		0.42			0.18			—			—	⁽¹³⁾

Hartford U.S. Government Securities HLS Fund
For the Year Ended December 31, 2016
IA	$	10.34	$	0.18		$	(0.02	)⁽⁹⁾	$	0.16		$	(0.20	)	$	—	$	(0.20	)	$	10.30		1.54	%	$	368,740		0.51	%		0.51	%		1.67	%		81	%
IB		10.32		0.15			(0.02	)⁽⁹⁾		0.13			(0.17	)		—		(0.17	)		10.28		1.27			79,489		0.76			0.76			1.42			81

For the Year Ended December 31, 2015
IA	$	10.37	$	0.16		$	—		$	0.16		$	(0.19	)	$	—	$	(0.19	)	$	10.34		1.56	%	$	412,060		0.49	%		0.49	%		1.53	%		42	%
IB		10.34		0.13			0.01			0.14			(0.16	)		—		(0.16	)		10.32		1.35			90,088		0.74			0.74			1.28			42

For the Year Ended December 31, 2014
IA	$	10.32	$	0.15		$	0.14		$	0.29		$	(0.24	)	$	—	$	(0.24	)	$	10.37		2.81	%	$	468,967		0.48	%		0.48	%		1.40	%		37	%
IB		10.28		0.12			0.15			0.27			(0.21	)		—		(0.21	)		10.34		2.59			102,235		0.73			0.73			1.15			37

For the Year Ended December 31, 2013
IA	$	10.75	$	0.12		$	(0.30	)	$	(0.18	)	$	(0.25	)	$	—	$	(0.25	)	$	10.32		(1.68	)%	$	556,169		0.49	%		0.49	%		1.14	%		39	%
IB		10.71		0.09			(0.30	)		(0.21	)		(0.22	)		—		(0.22	)		10.28		(1.97	)		123,908		0.74			0.74			0.89			39

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	10.68	$	0.16		$	0.22		$	0.38		$	(0.31	)	$	—	$	(0.31	)	$	10.75		3.70	%	$	833,735		0.48	%		0.48	%		1.20	%		86	%
IB		10.63		0.13			0.23			0.36			(0.28	)		—		(0.28	)		10.71		3.44			173,937		0.73			0.73			0.95			86

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


		216

Hartford HLS Funds

Financial Highlights – (continued)


	*— Selected Per-Share Data⁽¹⁾ —*																								*— Ratios and Supplemental Data —*
Class	Net Asset Value at Beginning of Period		Net Investment Income (Loss)		Net Realized and Unrealized Gain (Loss) on Investments			Total from Investment Operations			Dividends from Net Investment Income			Distributions from Capital Gains			Total Dividends and Distributions			Net Asset Value at End of Period		Total Return⁽²⁾			Net Assets at End of Period (000s)		Ratio of Expenses to Average Net Assets Before Adjust- ments⁽³⁾			Ratio of Expenses to Average Net Assets After Adjust- ments⁽³⁾			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover
Hartford Value HLS Fund
For the Year Ended December 31, 2016
IA	$	15.58	$	0.28	$	1.75		$	2.03		$	(0.26	)	$	(2.08	)	$	(2.34	)	$	15.27		13.69	%	$	446,411		0.80	%		0.80	%		1.83	%		15	%
IB		15.57		0.24		1.75			1.99			(0.22	)		(2.08	)		(2.30	)		15.26		13.46			77,796		1.05			1.05			1.58			15

For the Year Ended December 31, 2015
IA	$	16.89	$	0.26	$	(0.77	)	$	(0.51	)	$	(0.26	)	$	(0.54	)	$	(0.80	)	$	15.58		(3.08	)%	$	455,713		0.78	%		0.78	%		1.56	%		19	%
IB		16.88		0.22		(0.77	)		(0.55	)		(0.22	)		(0.54	)		(0.76	)		15.57		(3.35	)		80,052		1.03			1.03			1.30			19

For the Year Ended December 31, 2014
IA	$	15.39	$	0.24	$	1.51		$	1.75		$	(0.25	)	$	—		$	(0.25	)	$	16.89		11.37	%	$	523,661		0.77	%		0.77	%		1.51	%		14	%
IB		15.38		0.20		1.51			1.71			(0.21	)		—			(0.21	)		16.88		11.10			98,407		1.02			1.02			1.26			14

For the Year Ended December 31, 2013
IA	$	11.86	$	0.23	$	3.55		$	3.78		$	(0.25	)	$	—		$	(0.25	)	$	15.39		31.94	%	$	551,350		0.76	%		0.76	%		1.66	%		19	%
IB		11.85		0.20		3.54			3.74			(0.21	)		—			(0.21	)		15.38		31.65			109,081		1.01			1.01			1.41			19

For the Year Ended December 31, 2012⁽⁴⁾
IA	$	10.37	$	0.26	$	1.50		$	1.76		$	(0.27	)	$	—		$	(0.27	)	$	11.86		16.99	%	$	549,228		0.76	%		0.76	%		2.02	%		22	%
IB		10.36		0.23		1.50			1.73			(0.24	)		—			(0.24	)		11.85		16.69			103,438		1.01			1.01			1.77			22

⁽¹⁾	Information presented relates to a share outstanding throughout the indicated period. Net investment income (loss) per share amounts are calculated based on average shares outstanding unless otherwise noted.

⁽²⁾	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.

⁽³⁾	Adjustments include waivers and reimbursements, if applicable. Ratios do not include fees paid indirectly (see Expenses in the accompanying Notes to Financial Statements).

⁽⁴⁾	Net investment income (loss) per share amounts have been calculated using the Securities and Exchange Commission method.

⁽⁵⁾	Commenced operations on April 30, 2014.

⁽⁶⁾	Not annualized.

⁽⁷⁾	Annualized.

⁽⁸⁾	During the year ended December 31, 2014, the Fund incurred $61.8 million in sales associated with the transition of assets from Hartford Global Research HLS Fund, which merged into the Fund on June 23, 2014. These sales were excluded from the portfolio turnover rate calculation.

⁽⁹⁾	Per share amount was not in accord with the net realized and unrealized gain (loss) for the period because of the timing of transactions in shares of the Fund and the amount and timing of per-share net realized and unrealized gain (loss) on such shares.

⁽¹⁰⁾	During the year ended December 31, 2014, the Fund incurred $137.9 million in sales associated with the transition of assets from Hartford Growth HLS Fund, which merged into the Fund on June 23, 2014. These sales were excluded from the portfolio turnover rate calculation.

⁽¹¹⁾	Per share amounts have been restated to reflect a reverse stock split effective October 21, 2013. Please see Notes to Financial Statements.

⁽¹²⁾	Portfolio turnover shown is from October 21, 2013 (conversion date) through December 31, 2013.

⁽¹³⁾	The Fund was managed as a money market fund and portfolio turnover was not calculated.

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


		217

Hartford HLS Funds

Notes to Financial Statements

December 31, 2016

1.	Organization:

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. (each, a “Company” and collectively, the “Companies”) are each an open-end registered management investment company comprised of fifteen and four series, respectively, as of December 31, 2016. Financial statements for the series of each Company listed below (each, a “Fund” and collectively, the “Funds”) are included in this report.

Hartford Series Fund, Inc.:

Hartford Balanced HLS Fund (the “Balanced HLS Fund”)

Hartford Capital Appreciation HLS Fund (the “Capital Appreciation HLS Fund”)

Hartford Disciplined Equity HLS Fund (the “Disciplined Equity HLS Fund”)

Hartford Dividend and Growth HLS Fund (the “Dividend and Growth HLS Fund”)

Hartford Global Growth HLS Fund (the “Global Growth HLS Fund”)

Hartford Healthcare HLS Fund (the “Healthcare HLS Fund”)

Hartford High Yield HLS Fund (the “High Yield HLS Fund”)

Hartford International Opportunities HLS Fund (the “International Opportunities HLS Fund”)

Hartford MidCap HLS Fund (the “MidCap HLS Fund”)

Hartford MidCap Value HLS Fund (the “MidCap Value HLS Fund”)

Hartford Small Company HLS Fund (the “Small Company HLS Fund”)

Hartford Stock HLS Fund (the “Stock HLS Fund”)

Hartford Total Return Bond HLS Fund (the “Total Return Bond HLS Fund”)

Hartford Ultrashort Bond HLS Fund (the “Ultrashort Bond HLS Fund”)

Hartford Value HLS Fund (the “Value HLS Fund”)

Hartford HLS Series Fund II, Inc.:

Hartford Growth Opportunities HLS Fund (the “Growth Opportunities HLS Fund”)

Hartford Small Cap Growth HLS Fund (formerly, Hartford SmallCap Growth HLS Fund) (the “Small Cap Growth HLS Fund”)

Hartford Small/Mid Cap Equity HLS Fund (the “Small/Mid Cap Equity HLS Fund”)

Hartford U.S. Government Securities HLS Fund (the “U.S. Government Securities HLS Fund”)

The assets of each Fund are separate, and a shareholder’s interest is limited to the Fund in which shares are held. Each Company is organized under the laws of the State of Maryland and is registered with the Securities and Exchange Commission (the “SEC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). Each Fund serves as an underlying investment option for certain variable annuity and variable life insurance separate accounts of Hartford Life Insurance Company (“HLIC”) and its affiliates and certain qualified retirement plans. Each Fund may also serve as an underlying investment option 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 if permitted in the variable insurance contract prospectus. In addition, participants in certain qualified retirement plans may choose the Funds if permitted by their plans.

The Small Cap Growth HLS Fund’s portfolio managers are Mammen Chally (81%) and David J. Elliot (19%) as of December 31, 2016. The Small Company HLS Fund’s portfolio managers are Steven C. Angeli (98%) and Mammen Chally (2%) as of December 31, 2016.

Each Fund is a diversified open-end management investment company. Each Fund applies specialized accounting and reporting under Accounting Standards Codification Topic 946, “Financial Services – Investment Companies”.

Each Fund, except Balanced HLS Fund, Capital Appreciation HLS Fund, Dividend and Growth HLS Fund, Global Growth HLS Fund, Growth Opportunities HLS Fund, International Opportunities HLS Fund, MidCap HLS Fund, Small/Mid Cap Equity HLS Fund and Stock HLS, is divided into Class IA and Class IB shares. Balanced HLS Fund, Capital Appreciation HLS Fund, Dividend and Growth HLS Fund, Global Growth HLS Fund, Growth Opportunities HLS Fund, International Opportunities HLS Fund, MidCap HLS Fund, Small/Mid Cap Equity HLS Fund and Stock HLS Fund are divided into Class IA, Class IB and Class IC shares. Class IC shares have not commenced operations for Balanced HLS Fund, Dividend and Growth HLS Fund, Global Growth HLS Fund, International Opportunities HLS Fund, MidCap HLS Fund, Small/Mid Cap Equity HLS Fund and Stock HLS Fund as of the date of this report. Small Cap Growth HLS Fund and Small Company HLS Fund are closed to new investors until further notice. For more information please see the Fund’s prospectus. Each class is offered at the per share net asset value (“NAV”) without a sales charge and is subject to the same expenses, except certain class specific expenses. Class IB shares are subject to distribution and service fees charged pursuant to a Distribution Plan adopted in accordance with Rule 12b-1 under the 1940 Act. Class IC shares are subject to distribution fees charged pursuant to a Distribution Plan adopted in accordance with Rule 12b-1 under the 1940 Act and Class IC shares are also subject to an administrative service fee.


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December 31, 2016

2.	Significant Accounting Policies:

The following is a summary of significant accounting policies of each Fund used in the preparation of its financial statements, which are in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of financial statements in accordance with U.S. GAAP may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

Determination of Net Asset Value – The NAV of each class of each Fund’s shares is determined as of the close of regular trading (normally 4:00 p.m. Eastern Time) (the “NYSE Close”) on each day that the New York Stock Exchange (the “Exchange”) is open (“Valuation Date”). Information that becomes known to the Funds after the NAV has been calculated on a particular day will not generally be used to retroactively adjust the NAV determined earlier that day.

Investment Valuation and Fair Value Measurements – For purposes of calculating the NAV of each Fund, portfolio securities and other assets held in the Fund’s portfolio for which market prices are readily available are valued at market value. Market value is generally determined on the basis of last reported trade prices or official close price. If no trades were reported, market value is based on prices obtained from a quotation reporting system, established market makers, or independent pricing services. If market prices are not readily available or are deemed unreliable, a Fund will use the fair value of the security or other instrument as determined in good faith under policies and procedures established by and under the supervision of the respective Company’s Board of Directors. Market prices are considered not readily available where there is an absence of current or reliable market-based data (e.g., trade information or broker quotes), including where events occur after the close of the relevant market, but prior to the NYSE Close, that materially affect the values of a Fund’s portfolio holdings or assets. In addition, market prices are considered not readily available when, due to extraordinary circumstances, the exchanges or markets on which the securities or other instruments trade do not open for trading for the entire day and no other market prices are available. In addition, prices of foreign equities that are principally traded on certain foreign markets will generally be adjusted daily pursuant to a fair value pricing service approved by the respective Company’s Board of Directors in order to reflect an adjustment for the factors occurring after the close of certain foreign markets but before the NYSE Close. Securities and other instruments that are primarily traded on foreign markets may trade on days that are not business days of the Funds. The value of the foreign securities or other instruments in which a Fund invests 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 a Fund may cause the NAV of its 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 holding is primarily traded. There can be no assurance that a Fund could obtain the fair value assigned to an investment if the Fund were to sell the investment at approximately the time at which the Fund determines its NAV.

Fixed income investments (other than short-term obligations and senior floating rate interests), non-exchange traded derivatives and centrally cleared swaps held by a Fund are normally valued on the basis of quotes obtained from brokers and dealers or independent pricing services in accordance with procedures established by the respective Company’s Board of Directors. Prices obtained from independent pricing services use information provided by market makers or estimates of market values obtained from yield data relating to investments or securities with similar characteristics. 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. Generally, a Fund may use fair valuation in regard to fixed income positions when the Fund holds defaulted or distressed investments or investments in a company in which a reorganization is pending. Short-term investments maturing in 60 days or less are generally valued at amortized cost if their original term to maturity was 60 days or less, or by amortizing their value on the 61st day prior to maturity, if the original term exceeded 60 days.

Exchange traded options, futures and options on futures are valued at the settlement price or last trade price determined by the relevant exchange as of the NYSE Close. If a last trade price is not available, the value will be the mean of the bid and ask prices as of the NYSE Close. If a mean of the bid and ask prices cannot be calculated for the day, the value will be the bid price as of the NYSE Close. In the case of options privately negotiated in the OTC market (“OTC options”) and such instruments that do not trade on an exchange, values may be supplied by a pricing service using a formula or other objective method that may take into consideration the style, direction, expiration, strike price, notional value and volatility or other special adjustments.

Investments valued in currencies other than U.S. dollars are converted to U.S. dollars using exchange rates obtained from independent pricing services for calculation of the NAV. As a result, the NAV of a Fund’s shares may be affected by changes in the value of currencies in relation to the U.S. dollar. The value of securities or other instruments traded in markets outside the United States or denominated in currencies other than the U.S. dollar may be affected significantly on a day that the NYSE is closed and the market value may change on days when an investor is not able to purchase, redeem or exchange shares of a Fund.


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December 31, 2016

Foreign currency contracts represent agreements to exchange currencies on specific future dates at predetermined rates. Foreign currency contracts are valued using foreign currency exchange rates and forward rates as provided by an independent pricing service on the Valuation Date.

Investments in open-end mutual funds are valued at the respective NAV of each open-end mutual fund as determined as of the NYSE Close on the Valuation Date. Such open-end mutual funds may use fair value pricing as disclosed in their prospectuses.

Financial instruments for which prices are not available from an independent pricing service may be valued using market quotations obtained from one or more dealers that make markets in the respective financial instrument in accordance with procedures established by the respective Company’s Board of Directors.

U.S. GAAP defines fair value as the price that a Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants. The U.S. GAAP fair value measurement standards require disclosure of a fair value hierarchy for each major category of assets and liabilities. Various inputs are used in determining the fair value of each Fund’s investments. These inputs are summarized 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 investments. Level 1 may include exchange traded instruments, such as domestic equities, some foreign equities, options, futures, mutual funds, exchange traded funds, rights and warrants.

•

Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar investments; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 2 may include debt investments that are traded less frequently than exchange traded instruments and which are valued using independent pricing services; foreign equities, which are principally traded on certain foreign markets and are adjusted daily pursuant to a fair value pricing service in order to reflect an adjustment for the factors occurring after the close of certain foreign markets but before the NYSE Close; senior floating rate interests, which are valued using an aggregate of dealer bids; short-term investments, which are valued at amortized cost; and swaps, which are valued based upon the terms of each swap contract.

•

Level 3 – Significant unobservable inputs that are supported by limited or no market activity. Level 3 may include financial instruments whose values are determined using indicative market quotes or require significant management judgment or estimation. These unobservable valuation inputs may include estimates for current yields, maturity/duration, prepayment speed, and indicative market quotes for comparable investments along with other assumptions relating to credit quality, collateral value, complexity of the investment structure, general market conditions and liquidity. This category may include investments where trading has been halted or there are certain restrictions on trading. While these investments are priced using unobservable inputs, the valuation of these investments reflects the best available data and management believes the prices are a reasonable representation of exit price.

The Board of Directors of each Company generally reviews and approves the “Procedures for Valuation of Portfolio Investments” at least once a year. These procedures define how investments are to be valued, including the formation and activities of a Valuation Committee. The Valuation Committee, which is chaired by each Company’s Treasurer, is responsible for determining in good faith the fair value of investments when the value cannot be obtained from primary pricing services or alternative sources or if the valuation of an investment as provided by the primary pricing service or alternative source is believed not to reflect the investment’s fair value as of the Valuation Date. The Valuation Committee will consider all relevant factors in determining an investment’s fair value, and may seek the advice of such Fund’s sub-adviser, as applicable, knowledgeable brokers, and legal counsel in making such determination. The Valuation Committee reports to the Audit Committee of each Company’s Board of Directors. The Audit Committee receives quarterly written reports which include details of all fair-valued investments, including the reason for the fair valuation, and an indication, when possible, of the accuracy of the valuation by disclosing the next available reliable public price quotation or the disposition price of such investments (the “lookback” test). The Board of Directors of each Company then must consider for ratification all of the fair value determinations made during the previous quarter.

Valuation levels are not necessarily indicative of the risk associated with investing in such investments. Individual investments within any of the above mentioned asset classes may be assigned a different hierarchical level than those presented above, as individual circumstances dictate.

For additional information, refer to the Fair Valuation Summary and the Level 3 roll-forward reconciliation, if applicable, which follows each Fund’s Schedule of Investments.


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December 31, 2016

Following is quantitative information about Level 3 fair value measurements:

Growth Opportunities HLS Fund

Quantitative Information about Level 3 Fair Value Measurements:


Security Type / Valuation Technique*	Unobservable Input	Input Value(s) Range		Fair Value at December 31, 2016
Common Stock
Model	EV/EBITDA		6.3x to 13.0x	$	4,466,868
Model	EV/Estimated Revenue		2.76x to 4.69x		1,901,709
Cost	Trade Price		$17.81 to $105.69		4,406,397

Convertible Bonds
Cost	Trade Price		$100		705,896

Preferred Stock
Model	EV/Estimated Revenue		1.0x to 8.69x		39,955,472
Cost	Trade Price		$1.92 to $50.19		67,079,880

Convertible Preferred Stock
Model	EV/Estimated Revenue		2.95x to 4.69x		3,522,420

Total				$	122,038,642

The Valuation Committee may consider applying appropriate valuation methodologies, which may include, but are not limited to: valuation through use of a “proxy” investment or index, discount from market value of a similar freely traded investment, a discount or premium which may consider market or regulatory sentiment (or other subjective determinations, inputs or factors not otherwise quantifiable), and any other appropriate method.

Small Company HLS Fund

Quantitative Information about Level 3 Fair Value Measurements:


Security Type / Valuation Technique*	Unobservable Input	Input Value(s) Range		Fair Value at December 31, 2016
Common Stock
Model	EV/EBITDA		6.3x to 13.0x	$	10,177,632
Cost	Trade Price		$3.18 to $17.81		4,193,222

Preferred Stock
Model	EV/Estimated Revenue		2.2x to 8.69x		18,870,445
Cost	Trade Price		$3.97 to $25.25		14,054,205

Total				$	47,295,504

Investment Transactions and Investment Income – Investment transactions are recorded as of the trade date (the date the order to buy or sell is executed) for financial reporting purposes. Investments purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after the trade date. Realized gains and losses are determined on the basis of identified cost.

Trade date for senior floating rate interests purchased in the primary loan market is considered the date on which the loan allocations are determined. Trade date for senior floating rate interests purchased in the secondary loan market is the date on which the transaction is entered into.

Dividend income from domestic securities is accrued on the ex-dividend date. In general, dividend income from foreign securities is recorded on the ex-date; however, dividend notifications in certain foreign jurisdictions may not be available in a timely manner and as a result, a Fund will record the dividend as soon as the relevant details (i.e., rate per share, payment date, shareholders of record, etc.) are publicly available. Interest income, including amortization of premium, accretion of discounts, inflation adjustments and additional principal received in-kind in lieu of cash, is accrued on a daily basis. Paydown gains and losses on mortgage related and other asset backed securities are included in interest income in the Statements of Operations, as applicable.

Taxes – A Fund may be subject to taxes imposed on realized gains on securities of certain foreign countries in which such Fund invests. The amount of foreign tax expense is included on the accompanying Statements of Operations as a reduction to net realized gain on investments in these securities, if applicable.


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Notes to Financial Statements – (continued)

December 31, 2016

Foreign Currency Transactions – Assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates in effect on the Valuation Date. Purchases and sales of investments, income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions.

A Fund does not isolate that portion of portfolio investment valuation resulting from fluctuations in the foreign currency exchange rates from the fluctuations arising from changes in the market prices of investments held. Exchange rate 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.

Joint Trading Account – A Fund may invest cash balances into a joint trading account that may be invested in one or more repurchase agreements.

Fund Share Valuation and Dividend Distributions to Shareholders – Orders for each Fund’s shares are executed in accordance with the investment instructions of the contract holders and plan participants. The NAV of each Fund’s shares is determined as of the close of business on each business day of the Exchange (see Note 2(a)). The NAV is determined separately for each class of shares of a Fund by dividing the Fund’s net assets attributable to that class by the number of shares of the class outstanding. Each class of shares offered by a Fund has equal rights as to assets and voting privileges (except that shareholders of a class have exclusive voting rights regarding any matter relating solely to that class of shares). Income and non-class specific expenses are allocated daily to each class on the basis of the relative net assets of the class. Realized and unrealized gains and losses are allocated daily based on the relative net assets of each class of shares of each Fund.

Orders for the purchase of a Fund’s shares received prior to the close of the Exchange on any day the Exchange is open for business are priced at the NAV determined as of the close of the Exchange. Orders received after the close of the Exchange, or on a day on which the Exchange and/or the Funds are not open for business, are priced at the next determined NAV.

Dividends are declared pursuant to a policy adopted by the respective Company’s Board of Directors. Dividends and/or distributions to shareholders are recorded on ex-date. The policy of each Fund is to pay dividends from net investment income and realized gains, if any, at least once a year.

Income dividends and capital gains distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP with respect to character and timing (see Federal Income Taxes: Distributions and Components of Distributable Earnings and Reclassification of Capital Accounts notes).

3.	Securities and Other Investments:

Illiquid and Restricted Investments – Each Fund is permitted to invest up to 15% of its net assets in illiquid investments. Illiquid investments 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 investments when its sub-adviser considers it desirable to do so or may have to sell such investments at a price that is lower than the price that could be obtained if the investments were more liquid. A sale of illiquid 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 investments also may be more difficult to value due to the unavailability of reliable market quotations for such investments, and an investment in them may have an adverse impact on a Fund’s NAV. Each Fund may also purchase certain restricted investments that can only be resold to certain qualified investors and may be determined to be liquid pursuant to policies and guidelines established by the respective Company’s Board of Directors. See each Fund’s Schedule of Investments, if applicable, for illiquid or restricted investments as of December 31, 2016.

Investments Purchased on a When-Issued or Delayed-Delivery Basis – Delivery and payment for investments that have been purchased by a Fund on a forward commitment, or when-issued or delayed-delivery basis, take place beyond the customary settlement period. A Fund may dispose of or renegotiate a delayed-delivery transaction after it is entered into, and may sell delayed-delivery investments before they are delivered, which may result in a realized gain or loss. During this period, such investments are subject to market fluctuations, and a Fund identifies investments segregated in its records with a value at least equal to the amount of the commitment. See each Fund’s Schedule of Investments, if applicable, for when-issued or delayed-delivery investments as of December 31, 2016.


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December 31, 2016

In connection with a Fund’s ability to purchase investments on a when-issued or forward commitment basis, the Fund may enter into to-be announced (“TBA”) commitments. TBA commitments are forward agreements for the purchase or sale of mortgage backed securities for a fixed price, with payment and delivery on an agreed-upon future settlement date. The specific securities to be delivered are not identified at the trade date; however, delivered securities must meet specified terms, including issuer, rate and mortgage terms. Although a Fund may enter into TBA commitments with the intention of acquiring or delivering securities for its portfolio, the Fund can extend the settlement date, roll the transaction, or dispose of a commitment prior to settlement if deemed appropriate to do so. If the TBA commitment is closed through the acquisition of an offsetting TBA commitment, a Fund realizes a gain or loss. In a TBA roll transaction, a Fund generally purchases or sells the initial TBA commitment prior to the agreed upon settlement date and enters into a new TBA commitment for future delivery or receipt of the mortgage backed securities. TBA commitments involve a risk of loss if the value of the security to be purchased or sold declines or increases, respectively, prior to settlement date. See each Fund’s Schedule of Investments, if applicable, for TBA commitments as of December 31, 2016.

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. A Fund may invest in multiple series or tranches of a senior floating rate interest, which may have varying terms and carry different associated risks. A Fund may also enter into unfunded loan commitments, which are contractual obligations for future funding. Unfunded loan commitments may include revolving credit facilities, which may obligate the Fund to supply additional cash to the borrower on demand. Unfunded loan commitments represent a future obligation in full. A Fund may receive a commitment fee based on the undrawn portion of the underlying line of credit portion of a senior floating rate interest. In certain circumstances, a Fund may receive various fees upon the restructure of a senior floating rate interest by a borrower. Fees earned/paid may be recorded as a component of income or realized gain/loss in the Statements of Operations.

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 a 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. See each Fund’s Schedule of Investments, if applicable, for outstanding senior floating rate interests as of December 31, 2016.

Mortgage Related and Other Asset Backed Securities – A Fund may invest in mortgage related and other asset backed securities. These securities include mortgage pass-through securities, collateralized mortgage obligations, commercial mortgage backed securities, stripped mortgage backed securities, asset backed securities, collateralized debt obligations and other securities that directly or indirectly represent a participation in, or are secured by and payable from, mortgage loans on real property. Mortgage related securities are created from pools of residential or commercial mortgage loans, including mortgage loans made by savings and loan institutions, mortgage bankers, commercial banks and others. Asset backed securities are created from many types of assets, including auto loans, credit card receivables, home equity loans, and student loans. These securities provide a monthly payment that consists of both interest and principal payments. Interest payments may be determined by fixed or adjustable rates. The rate of prepayments on underlying mortgages will affect the price and volatility of a mortgage related security, and may have the effect of shortening or extending the effective duration of the security relative to what was anticipated at the time of purchase. The timely payment of principal and interest of certain mortgage related securities is guaranteed by the full faith and credit of the United States Government. Mortgage related and other asset backed securities created and guaranteed by non-governmental issuers, including government-sponsored corporations, may be supported by various forms of insurance or guarantees, but there can be no assurance that the private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. See each Fund’s Schedule of Investments, if applicable, for mortgage related and other asset backed securities as of December 31, 2016.

Inflation Indexed Bonds – A Fund may invest in inflation indexed bonds. Inflation indexed bonds are fixed income investments whose principal value is periodically adjusted to the rate of inflation. The interest rate on these bonds is generally fixed at issuance at a rate lower than typical bonds. Over the life of an inflation indexed bond, however, interest will be paid based on a principal value, which is adjusted for inflation. Any increase or decrease in the principal amount of an inflation indexed bond will be included as interest income on the Statements of Operations, even though investors do not receive the principal amount until maturity. See each Fund’s Schedule of Investments, if applicable, for inflation indexed bonds as of December 31, 2016.


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December 31, 2016

4.	Financial Derivative Instruments:

The following disclosures contain information on how and why a Fund uses derivative instruments, the credit-risk-related contingent features in certain derivative instruments, and how derivative instruments affect a Fund’s financial position and results of operations. The location and fair value amounts of these instruments on the Statements of Assets and Liabilities and the realized gains and losses and changes in unrealized gains and losses on the Statements of Operations, each categorized by type of derivative contract, are included in the following Additional Derivative Instrument Information footnote. The derivative instruments outstanding as of period-end are disclosed in the notes to the Schedules of Investments, if applicable. The amounts of realized gains and losses and changes in unrealized gains and losses on derivative instruments during the period are disclosed in the Statements of Operations.

Foreign Currency Contracts – A Fund may enter into foreign currency contracts that obligate the Fund to purchase or sell currencies at specified future dates. Foreign currency contracts may be used in connection with settling purchases or sales of securities to hedge the currency exposure associated with some or all of a Fund’s investments and/or as part of an investment strategy. Foreign currency contracts are marked to market daily and the change in value is recorded by a Fund as an unrealized gain or loss. A Fund will record a realized gain or loss when the foreign currency contract is settled.

Foreign currency contracts involve elements of market risk in excess of the amounts 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. Upon entering into a foreign currency contract, a Fund may be required to post margin equal to its outstanding exposure thereunder.

During the fiscal year ended December 31, 2016, Capital Appreciation HLS Fund, High Yield HLS Fund and Total Return Bond HLS Fund had engaged in Foreign Currency Contracts.

Futures Contracts – A Fund may enter into futures contracts. A futures contract is an agreement between two parties to buy or sell an asset at a set price on a future date. A Fund uses futures contracts to manage risk or obtain exposure to the investment markets, commodities, or movements in interest rates and currency values. The primary risks associated with the use of futures contracts are the imperfect correlation between the change in market value of the investments held by a Fund and the prices of futures contracts and the possibility of an illiquid market. Upon entering into a futures contract, a Fund is required to deposit with a futures commission merchant (“FCM”) an amount of cash or U.S. Government or Agency Obligations in accordance with the initial margin requirements of the broker or exchange. Futures contracts are marked to market daily and an appropriate amount equal to the change in value (“variation margin”) is paid or received by a Fund. Gains or losses are recognized but not considered realized until the contracts expire or are closed. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin disclosed on the Statements of Assets and Liabilities.

During the fiscal year ended December 31, 2016, Balanced HLS Fund, Disciplined Equity HLS Fund, Total Return Bond HLS Fund and U.S. Government Securities HLS Fund had engaged in Futures Contracts.

Options Contracts – An option contract is a contract sold by one party to another party that offers the buyer the right, but not the obligation, to buy (call) or sell (put) an investment or other financial asset at an agreed-upon price during a specific period of time or on a specific date. Option contracts are either OTC options or executed in a registered exchange (“exchange traded options”). A Fund may write (sell) covered call and put options on futures, swaps (“swaptions”), securities, commodities or currencies. “Covered” means that so long as a Fund is obligated as the writer of an option, it will own either the underlying investments or currency or an option to purchase the same underlying investments 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 segregate or earmark cash or other liquid investments having, for written call options, a value equal to the greater of the exercise price or the market value of the underlying instrument and, for written put options, a value equal to the exercise price. Writing put options may increase a Fund’s exposure to the underlying instrument. Writing call options may decrease a Fund’s exposure to the underlying instrument. Premiums received from writing options that expire are treated as realized gains. Premiums received from writing options that are exercised or closed are added to the proceeds or offset amounts paid on the underlying futures, swap, investment or currency transaction to determine the realized gain or loss. A Fund, as a writer of an option, has no control over whether the underlying instrument may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the instrument underlying the written option. There is the risk a Fund may not be able to enter into a closing transaction because of an illiquid market. A Fund may also purchase put and call options. Purchasing call options may increase a Fund’s exposure to the underlying instrument. Purchasing put options may decrease a Fund’s exposure to the underlying instrument. A Fund pays a premium, which is included on the Fund’s Statements of Assets and Liabilities as an


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Notes to Financial Statements – (continued)

December 31, 2016

investment and is subsequently marked to market to reflect the current value of the option. Premiums paid for purchasing options that expire are treated as realized losses. Certain options may be purchased with premiums to be determined on a future date. The premiums for these options are based upon implied volatility parameters at specified terms. The risk associated with purchasing put and call options is generally limited to the premium paid. Premiums paid for purchasing options that are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss. Entering into OTC options also exposes a Fund to counterparty risk. Counterparty risk is the possibility that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements.

During the fiscal year ended December 31, 2016, Capital Appreciation HLS Fund and Total Return Bond HLS Fund had engaged in Options Contracts.

Transactions involving written option contracts during the year ended December 31, 2016, are summarized below:

Capital Appreciation HLS Fund

Options Activity During the Year Ended December 31, 2016


Put Options Written During the Year	Number of Contracts			Premium Amounts
Beginning of period		—		$	—
Written		4,421			780,877
Expired		—			—
Closed		(4,421	)		(780,877)
Exercised		—			—

End of Period		—		$	—


Total Return Bond HLS Fund
Options Activity During the Year Ended December 31, 2016

Call Options Written During the Year	Number of Contracts			Premium Amounts
Beginning of period		69,695,000		$	207,343
Written		1,211,458,000			3,752,514
Expired		(478,249,000	)		(1,402,710	)
Closed		—			—
Exercised		(802,904,000	)		(2,557,147	)

End of Period		—		$	—


Put Options Written During the Year	Number of Contracts			Premium Amounts
Beginning of period		69,690,000		$	137,638
Written		1,363,778,000			3,942,262
Expired		(895,282,000	)		(2,323,957	)
Closed		(14,012,000	)		(388,553)
Exercised		(524,174,000	)		(1,367,390	)

End of Period		—		$	—

Swap Contracts – A Fund may invest in swap contracts. Swap contracts are agreements to exchange or swap investment cash flows, assets, foreign currencies or market-linked returns at specified, future intervals. Swap contracts are either privately negotiated in the over-the-counter market (“OTC swaps”) or through a central counterparty or derivatives clearing organization (“centrally cleared


		225

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Notes to Financial Statements – (continued)

December 31, 2016

swaps”). A Fund may enter into credit default, total return, cross-currency, interest rate, inflation and other forms of swap contracts to manage its exposure to credit, currency, interest rate, commodity and inflation risk. Swap contracts are also used to gain exposure to certain markets. In connection with these contracts, investments or cash may be identified as collateral or margin in accordance with the terms of the respective swap contracts and/or master netting arrangement to provide assets of value and recourse in the event of default or bankruptcy/insolvency.

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 respective Company’s Board of Directors. Changes in market value, if any, are reflected as a component of net changes in unrealized appreciation or depreciation on the Statements of Operations. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a receivable or payable for the change in value (“variation margin”) on the Statements of Assets and Liabilities. Realized gains or losses on centrally cleared swaps are recorded upon the termination of the swap. OTC swap payments received or paid at the beginning of the measurement period are reflected as such on the Statements of Assets and Liabilities and represent premiums paid or received upon entering into the swap contract to compensate for differences between the stated terms of the swap contract and prevailing market conditions (credit spreads, currency exchange rates, interest rates and other relevant factors). These upfront premiums are recorded as realized gains or losses on the Statements of Operations upon termination or maturity of the swap. A liquidation payment received or made at the termination or maturity of the swap is recorded as a realized gain or loss on the Statements of Operations. Net periodic payments received or paid by a Fund are included as part of realized gains or losses on the Statements of Operations.

Entering into these contracts involves, to varying degrees, elements of liquidation, counterparty, credit and market risk in excess of the amounts recognized on the Statements of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these contracts, that the counterparty to the contracts may default on its obligation to perform or disagree as to the meaning of contractual terms in the contracts, and that there may be unfavorable changes in market conditions (credit spreads, currency exchange rates, interest rates and other relevant factors).

A Fund’s maximum risk of loss from counterparty risk for OTC swaps is the net value of the discounted cash flows to be received from the counterparty over the contract’s remaining life, and current market value, to the extent that amount is positive. The risk is mitigated by having a master netting arrangement between a Fund and the counterparty, which allows for the netting of payments made or received (although such amounts are presented on a gross basis within the Statements of Assets and Liabilities, as applicable) as well as the posting of collateral to a Fund to cover the Fund’s exposure to the counterparty. In a centrally cleared swap, while a Fund enters into an agreement with a clearing broker to execute contracts with a counterparty, the performance of the swap is guaranteed by the central clearinghouse, which reduces the Fund’s exposure to counterparty risk. However, the Fund is still exposed to a certain amount of counterparty risk through the clearing broker and clearinghouse. The clearinghouse attempts to minimize this risk to its participants through the use of mandatory margin requirements, daily cash settlements and other procedures. Likewise, the clearing broker reduces its risk through margin requirements and required segregation of customer balances.

Credit Default Swap Contracts – The credit default swap market allows a Fund to manage credit risk through buying and selling credit protection on a specific issuer, asset or basket of assets. Certain credit default swaps involve the exchange of a fixed rate premium for protection against the loss in value of an underlying investment or index in the event of a credit event, such as payment default or bankruptcy.

Under a credit default swap contract, one party acts as guarantor by receiving the fixed periodic payment in exchange for the commitment to purchase the underlying investment at par if the defined credit event occurs. Upon the occurrence of a defined credit event, the difference between the value of the reference obligation and the swap’s notional amount is recorded as realized gain or loss on swap transactions in the Statements of Operations. 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. Although specified events are contract specific, credit events are generally defined as bankruptcy, failure to pay, restructuring, obligation acceleration, obligation default or repudiation/moratorium. A “seller’s” exposure is limited to the total notional amount of the credit default swap contract. These potential amounts would be partially offset by any recovery values of the respective referenced obligations or upfront payments received upon entering into the contract.

Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap contracts on corporate issues, sovereign government issues or U.S. municipal issues as of year-end are disclosed in the notes to the Schedules of Investments, as applicable, and serve as an indicator of the current status of the payment/performance risk and represent the


		226

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and there may also be upfront payments required to be made to enter into the contract. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the contract. For credit default swap contracts on credit indices, the quoted market prices and resulting values serve as the indicator of the current status of the payment/performance risk. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced equity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the contract.

During the fiscal year ended December 31, 2016, High Yield HLS Fund and Total Return Bond HLS Fund had engaged in Credit Default Swap Contracts.

Interest Rate Swap Contracts – Certain Funds are subject to interest rate risk exposure in the normal course of pursuing its investment objectives. A Fund may use interest rate swaps to hedge interest rate and duration risk across a portfolio at particular duration points and to maintain its ability to generate income at prevailing market rates. In a typical interest rate swap, one party agrees to make regular payments equal to a floating interest rate, based on a specified interest rate or benchmark (e.g. London Interbank Offered Rate (“LIBOR”)), multiplied by a notional amount, in return for payments equal to a fixed rate multiplied by the same amount, for a specific period of time. The net interest received or paid on interest rate swap contracts is recorded as a realized gain or loss. Interest rate swaps are marked to market daily and the change, if any, is recorded as an unrealized gain or loss in the Statements of Operations. When the interest rate swap contract is terminated early, a Fund records a realized gain or loss equal to the difference between the current market value and the upfront premium or cost.

If an interest rate swap contract provides for payments in different currencies, the parties might agree to exchange the notional amount as well. Interest rate swaps may also depend on other prices or rates, such as the value of an index. The risks of interest rate swaps include changes in market conditions which will affect the value of the contract or the cash flows and the possible inability of the counterparty to fulfill its obligations under the contract. A Fund’s maximum risk of loss from counterparty credit risk is the discounted net value of the cash flows to be received from the counterparty over the contract’s remaining life, to the extent that amount is positive.

During the fiscal year ended December 31, 2016, Total Return Bond HLS Fund and U.S. Government Securities HLS Fund had engaged in Interest Rate Swap Contracts.

Additional Derivative Instrument Information:

Balanced HLS Fund

Fair Value of Derivative Instruments on the Statement of Assets and Liabilities as of December 31, 2016:


	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total

Liabilities:
Unrealized depreciation on futures contracts⁽¹⁾	$	161,124	$	—	$	—	$	—	$	—	$	—	$	161,124

Total	$	161,124	$	—	$	—	$	—	$	—	$	—	$	161,124

The Effect of Derivative Instruments on the Statement of Operations for the year ended December 31, 2016


	Risk Exposure Category
	Interest Rate Contracts			Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Realized Gain (Loss) on Derivatives Recognized as a Result of Operations:
Net realized gain (loss) on futures contracts	$	(329,910	)	$	—	$	—	$	—	$	—	$	—	$	(329,910	)

Total	$	(329,910	)	$	—	$	—	$	—	$	—	$	—	$	(329,910	)


Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations:
Net change in unrealized appreciation (depreciation) of futures contracts	$	(100,278	)	$	—	$	—	$	—	$	—	$	—	$	(100,278	)

Total	$	(100,278	)	$	—	$	—	$	—	$	—	$	—	$	(100,278	)


		227

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

For the year ended December 31, 2016, the average amount or number per contract outstanding for each derivative type was as follows:


Derivative Description	Average Notional Par, Contracts or Face Amount
Futures Contracts Long		117
Futures Contracts Short		(129	)

Capital Appreciation HLS Fund

Fair Value of Derivative Instruments on the Statement of Assets and Liabilities as of December 31, 2016:


	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Assets:
Unrealized appreciation on foreign currency contracts	$	—	$	1,062,399	$	—	$	—	$	—	$	—	$	1,062,399

Total	$	—	$	1,062,399	$	—	$	—	$	—	$	—	$	1,062,399


Liabilities:
Unrealized depreciation on foreign currency contracts	$	—	$	71,825	$	—	$	—	$	—	$	—	$	71,825

Total	$	—	$	71,825	$	—	$	—	$	—	$	—	$	71,825

The Effect of Derivative Instruments on the Statement of Operations for the year ended December 31, 2016


	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Realized Gain (Loss) on Derivatives Recognized as a Result of Operations:
Net realized gain (loss) on written options contracts	$	—	$	—	$	—	$	538,384	$	—	$	—	$	538,384
Net realized gain (loss) on foreign currency contracts		—		2,299,913		—		—		—		—		2,299,913

Total	$	—	$	2,299,913	$	—	$	538,384	$	—	$	—	$	2,838,297


Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations:
Net change in unrealized appreciation (depreciation) of foreign currency contracts	$	—	$	207,549	$	—	$	—	$	—	$	—	$	207,549

Total	$	—	$	207,549	$	—	$	—	$	—	$	—	$	207,549

For the year ended December 31, 2016, the average amount or number per contract outstanding for each derivative type was as follows:


Derivative Description	Average Notional Par, Contracts or Face Amount
Written Options Contracts		(4,421	)
Foreign Currency Contracts Purchased	$	13,872,203
Foreign Currency Contracts Sold	$	68,432,876


		228

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

Disciplined Equity HLS Fund

The Effect of Derivative Instruments on the Statement of Operations for the year ended December 31, 2016


	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts		Credit Contracts		Equity Contracts			Commodity Contracts		Other Contracts		Total
Realized Gain (Loss) on Derivatives Recognized as a Result of Operations:
Net realized gain (loss) on futures contracts	$	—	$	—	$	—	$	15,267		$	—	$	—	$	15,267

Total	$	—	$	—	$	—	$	15,267		$	—	$	—	$	15,267


Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations:
Net change in unrealized appreciation (depreciation) of futures contracts	$	—	$	—	$	—	$	(281,759	)	$	—	$	—	$	(281,759	)

Total	$	—	$	—	$	—	$	(281,759	)	$	—	$	—	$	(281,759	)

For the year ended December 31, 2016, the average amount or number per contract outstanding for each derivative type was as follows:


Derivative Description	Average Notional Par, Contracts or Face Amount
Futures Contracts Long		77

High Yield HLS Fund

Fair Value of Derivative Instruments on the Statement of Assets and Liabilities as of December 31, 2016:


	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Assets:
Unrealized appreciation on swap contracts⁽²⁾	$	—	$	—	$	302,502	$	—	$	—	$	—	$	302,502

Total	$	—	$	—	$	302,502	$	—	$	—	$	—	$	302,502


Liabilities:
Unrealized depreciation on foreign currency contracts	$	—	$	41,438	$	—	$	—	$	—	$	—	$	41,438

Total	$	—	$	41,438	$	—	$	—	$	—	$	—	$	41,438

The Effect of Derivative Instruments on the Statement of Operations for the year ended December 31, 2016


	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts			Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Realized Gain (Loss) on Derivatives Recognized as a Result of Operations:
Net realized gain (loss) on swap contracts	$	—	$	—		$	589,795	$	—	$	—	$	—	$	589,795
Net realized gain (loss) on foreign currency contracts		—		72,216			—		—		—		—		72,216

Total	$	—	$	72,216		$	589,795	$	—	$	—	$	—	$	662,011


Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations:
Net change in unrealized appreciation (depreciation) of swap contracts	$	—	$	—		$	370,758	$	—	$	—	$	—	$	370,758
Net change in unrealized appreciation (depreciation) of foreign currency contracts		—		(105,268	)		—		—		—		—		(105,268	)

Total	$	—	$	(105,268	)	$	370,758	$	—	$	—	$	—	$	265,490


		229

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

For the year ended December 31, 2016, the average amount or number per contract outstanding for each derivative type was as follows:


Derivative Description	Average Notional Par, Contracts or Face Amount
Swap Contracts	$	8,581,667
Foreign Currency Contracts Purchased	$	537,080
Foreign Currency Contracts Sold	$	6,177,756

Total Return Bond HLS Fund

Fair Value of Derivative Instruments on the Statement of Assets and Liabilities as of December 31, 2016:


	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Assets:
Investments in securities, at value (purchased options), market value	$	—	$	13,338	$	—	$	—	$	—	$	—	$	13,338
Unrealized appreciation on futures contracts⁽¹⁾		1,053,726		—		—		—		—		—		1,053,726
Unrealized appreciation on foreign currency contracts		—		5,008,810		—		—		—		—		5,008,810
Unrealized appreciation on swap contracts⁽²⁾		3,643,834		—		6,707,797		—		—		—		10,351,631

Total	$	4,697,560	$	5,022,148	$	6,707,797	$	—	$	—	$	—	$	16,427,505


Liabilities:
Unrealized depreciation on futures contracts⁽¹⁾	$	1,049,961	$	—	$	—	$	—	$	—	$	—	$	1,049,961
Unrealized depreciation on foreign currency contracts		—		1,514,097		—		—		—		—		1,514,097
Unrealized depreciation on swap contracts⁽²⁾		—		—		5,140,160		—		—		—		5,140,160

Total	$	1,049,961	$	1,514,097	$	5,140,160	$	—	$	—	$	—	$	7,704,218

The Effect of Derivative Instruments on the Statement of Operations for the year ended December 31, 2016


	Risk Exposure Category
	Interest Rate Contracts			Foreign Exchange Contracts			Credit Contracts			Equity Contracts		Commodity Contracts		Other Contracts		Total
Realized Gain (Loss) on Derivatives Recognized as a Result of Operations:
Net realized gain (loss) on purchased options contracts	$	(4,142	)	$	(104,760	)	$	—		$	—	$	—	$	—	$	(108,902	)
Net realized gain (loss) on futures contracts		2,768,682			—			—			—		—		—		2,768,682
Net realized gain (loss) on written options contracts		3,406,372			355,688			—			—		—		—		3,762,060
Net realized gain (loss) on swap contracts		2,410,831			21,201			(30,405,008	)		—		—		—		(27,972,976	)
Net realized gain (loss) on foreign currency contracts		—			(4,597,065	)		—			—		—		—		(4,597,065	)

Total	$	8,581,743		$	(4,324,936	)	$	(30,405,008	)	$	—	$	—	$	—	$	(26,148,201	)


Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations:
Net change in unrealized appreciation (depreciation) of investments in purchased options contracts	$	—		$	(109,680	)	$	—		$	—	$	—	$	—	$	(109,680	)
Net change in unrealized appreciation (depreciation) of futures contracts		205,230			—			—			—		—		—		205,230
Net change in unrealized appreciation (depreciation) of written options contracts		6,972			—			—			—		—		—		6,972
Net change in unrealized appreciation (depreciation) of swap contracts		3,484,932			85,865			6,271,471			—		—		—		9,842,268
Net change in unrealized appreciation (depreciation) of foreign currency contracts		—			3,047,281			—			—		—		—		3,047,281

Total	$	3,697,134		$	3,023,466		$	6,271,471		$	—	$	—	$	—	$	12,992,071


		230

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

For the year ended December 31, 2016, the average amount or number per contract outstanding for each derivative type was as follows:


Derivative Description	Average Notional Par, Contracts or Face Amount
Purchased Options Contracts		59,958,113
Futures Contracts Long		5,561
Futures Contracts Short		(3,209	)
Written Options Contracts		(411,979,833	)
Swap Contracts	$	881,399,290
Foreign Currency Contracts Purchased	$	44,268,496
Foreign Currency Contracts Sold	$	136,086,526

U.S. Government Securities HLS Fund

Fair Value of Derivative Instruments on the Statement of Assets and Liabilities as of December 31, 2016:


	Risk Exposure Category
	Interest Rate Contracts		Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Assets:
Unrealized appreciation on swap contracts⁽²⁾	$	426,294	$	—	$	—	$	—	$	—	$	—	$	426,294

Total	$	426,294	$	—	$	—	$	—	$	—	$	—	$	426,294


Liabilities:
Unrealized depreciation on futures contracts⁽¹⁾	$	376,508	$	—	$	—	$	—	$	—	$	—	$	376,508

Total	$	376,508	$	—	$	—	$	—	$	—	$	—	$	376,508

The Effect of Derivative Instruments on the Statement of Operations for the year ended December 31, 2016


	Risk Exposure Category
	Interest Rate Contracts			Foreign Exchange Contracts		Credit Contracts		Equity Contracts		Commodity Contracts		Other Contracts		Total
Realized Gain (Loss) on Derivatives Recognized as a Result of Operations:
Net realized gain (loss) on futures contracts	$	(38,912	)	$	—	$	—	$	—	$	—	$	—	$	(38,912	)
Net realized gain (loss) on swap contracts		(280	)		—		—		—		—		—		(280	)

Total	$	(39,192	)	$	—	$	—	$	—	$	—	$	—	$	(39,192	)


Net Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized as a Result of Operations:
Net change in unrealized appreciation (depreciation) of futures contracts	$	(254,974	)	$	—	$	—	$	—	$	—	$	—		$ (254,974	)
Net change in unrealized appreciation (depreciation) of swap contracts		426,294			—		—		—		—		—		426,294

Total	$	171,320		$	—	$	—	$	—	$	—	$	—	$	171,320


		231

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

For the year ended December 31, 2016, the average amount or number per contract outstanding for each derivative type was as follows:


Derivative Description	Average Notional Par, Contracts or Face Amount
Futures Contracts Long		582
Futures Contracts Short		(201	)
Swap Contracts	$	5,050,000

⁽¹⁾

Amount represents the cumulative appreciation (depreciation) on futures contracts as disclosed within the Schedule of Investments under the open “Futures Contracts” section. Only current day’s variation margin, if any, is reported within the Statements of Assets and Liabilities.

⁽²⁾

Amount represents the cumulative appreciation (depreciation) on centrally cleared swaps, if applicable, as disclosed within the Schedule of Investments. Only the current day’s variation margin, if any, is reported within the Statements of Assets and Liabilities. OTC swaps are reported within the Statement of Assets and Liabilities within Unrealized appreciation (depreciation) on OTC swap contracts, if applicable.

Balance Sheet Offsetting Information – Set forth below are tables which disclose both gross information and net information about instruments and transactions eligible for offset in the financial statements, and instruments and transactions that are subject to a master netting arrangement, as well as amounts related to margin, reflected as financial collateral (including cash collateral), held at clearing brokers, counterparties and a Fund’s custodian. The master netting arrangements allow the clearing brokers to net any collateral held in or on behalf of a Fund, or liabilities or payment obligations of the clearing brokers to the Fund, against any liabilities or payment obligations of the Fund to the clearing brokers. A Fund is required to deposit financial collateral (including cash collateral) at the Fund’s custodian on behalf of clearing brokers and counterparties to continually meet the original and maintenance requirements established by the clearing brokers and counterparties. Such requirements are specific to the respective clearing broker or counterparty. Certain master netting arrangements may not be enforceable in a bankruptcy.

The following tables present the Funds’ derivative assets and liabilities, presented on a gross basis as no amounts are netted within the Statements of Assets and Liabilities, by counterparty net of amounts available for offset under a master netting agreement or similar agreement (“MNA”) and net of the related collateral received/pledged by the Funds as of December 31, 2016:


Balanced HLS Fund
Derivative Financial Instruments:	Assets		Liabilities
Futures contracts	$	—	$	(161,124	)

Total gross amount of derivative assets and liabilities in the Statement of Assets and Liabilities		—		(161,124	)

Derivatives not subject to a MNA		—		161,124

Total gross amount of assets and liabilities subject to MNA or similar agreements	$	—	$	—


Capital Appreciation HLS Fund
Derivative Financial Instruments:	Assets		Liabilities
Foreign currency contracts	$	1,062,399	$	(71,825	)

Total gross amount of derivative assets and liabilities in the Statement of Assets and Liabilities		1,062,399		(71,825	)

Derivatives not subject to a MNA		—		—

Total gross amount of assets and liabilities subject to MNA or similar agreements	$	1,062,399	$	(71,825	)


		232

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016


Capital Appreciation HLS Fund
Counterparty	Gross Amount of Assets		Financial Instruments and Derivatives Available for Offset			Non-cash Collateral Received*		Cash Collateral Received*		Net Amount of Assets
Barclays	$	139,815	$	(71,825	)	$	—	$	—	$	67,990
Citibank NA		614,914		—			—		—		614,914
Morgan Stanley		307,670		—			—		—		307,670

Total	$	1,062,399	$	(71,825	)	$	—	$	—	$	990,574


Counterparty	Gross Amount of Liabilities			Financial Instruments and Derivatives Available for Offset		Non-cash Collateral Pledged*		Cash Collateral Pledged*		Net Amount of Liabilities
Barclays	$	(71,825	)	$	71,825	$	—	$	—	$	—

In some instances, the actual collateral received and/or pledged may be more than the amount shown.


High Yield HLS Fund
Derivative Financial Instruments:	Assets			Liabilities
Foreign currency contracts	$	—		$	(41,438	)
Swap contracts		302,502			—

Total gross amount of derivative assets and liabilities in the Statement of Assets and Liabilities		302,502			(41,438	)

Derivatives not subject to a MNA		(302,502	)		—

Total gross amount of assets and liabilities subject to MNA or similar agreements	$	—		$	(41,438	)


Counterparty	Gross Amount of Liabilities			Financial Instruments and Derivatives Available for Offset		Non-cash Collateral Pledged*		Cash Collateral Pledged*		Net Amount of Liabilities
Barclays	$	(41,438	)	$	—	$	—	$	—	$	(41,438	)

In some instances, the actual collateral received and/or pledged may be more than the amount shown.


Total Return Bond HLS Fund
Derivative Financial Instruments:	Assets			Liabilities
Foreign currency contracts	$	5,008,810		$	(1,514,097	)
Futures contracts		1,053,726			(1,049,961	)
Purchased options		13,338			—
Swap contracts		10,351,631			(5,140,160	)

Total gross amount of derivative assets and liabilities in the Statement of Assets and Liabilities		16,427,505			(7,704,218	)

Derivatives not subject to a MNA		(3,152,789	)		2,401,524

Total gross amount of assets and liabilities subject to MNA or similar agreements	$	13,274,716		$	(5,302,694	)


		233

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016


Total Return Bond HLS Fund
Counterparty	Gross Amount of Assets		Financial Instruments and Derivatives Available for Offset			Non-cash Collateral Received*			Cash Collateral Received*			Net Amount of Assets
Banc of America Securities LLC	$	2,256,316	$	(697,505	)	$	(1,558,811	)	$	—		$	—
Barclays		402,337		(402,337	)		—			—			—
BNP Paribas Securities Services		261,633		—			—			—			261,633
Citibank NA		3,865,336		(178,114	)		—			(634,000	)		3,053,222
Credit Suisse International		979,044		(796,559	)		—			—			182,485
Deutsche Bank Securities, Inc.		293,848		(191,697	)		—			(102,151	)		—
Goldman Sachs & Co.		644,493		(644,493	)		—			—			—
HSBC Bank USA		165,680		—			—			—			165,680
JP Morgan Chase & Co.		2,099,931		(92,334	)		—			—			2,007,597
Merrill Lynch International		901,558		(165,275	)		—			—			736,283
Morgan Stanley		779,755		(747,337	)		—			(32,418	)		—
National Australia Bank Limited		1,206		—			—			—			1,206
UBS AG		623,579		(323,898	)		—			—			299,681

Total	$	13,274,716	$	(4,239,549	)	$	(1,558,811	)	$	(768,569	)	$	6,707,787


Counterparty	Gross Amount of Liabilities			Financial Instruments and Derivatives Available for Offset		Non-cash Collateral Pledged*		Cash Collateral Pledged*		Net Amount of Liabilities
Banc of America Securities LLC	$	(697,505	)	$	697,505	$	—	$	—	$	—
Barclays		(488,382	)		402,337		86,045		—		—
Citibank NA		(178,114	)		178,114		—		—		—
Credit Suisse International		(796,559	)		796,559		—		—		—
Deutsche Bank Securities, Inc.		(191,697	)		191,697		—		—		—
Goldman Sachs & Co.		(1,081,581	)		644,493		437,088		—		—
JP Morgan Chase & Co.		(92,334	)		92,334		—		—		—
Merrill Lynch International		(165,275	)		165,275		—		—		—
Morgan Stanley		(747,337	)		747,337		—		—		—
State Street Global Markets LLC		(540,012	)		—		—		—		(540,012	)
UBS AG		(323,898	)		323,898		—		—		—

Total	$	(5,302,694	)	$	4,239,549	$	523,133	$	—	$	(540,012	)

In some instances, the actual collateral received and/or pledged may be more than the amount shown.


U.S. Government Securities HLS Fund
Derivative Financial Instruments:	Assets			Liabilities
Futures contracts	$	—		$	(376,508	)
Swap contracts		426,294			—

Total gross amount of derivative assets and liabilities in the Statement of Assets and Liabilities		426,294			(376,508	)

Derivatives not subject to a MNA		(426,294	)		376,508

Total gross amount of assets and liabilities subject to MNA or similar agreements	$	—		$	—


		234

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

5.	Principal Risks:

The market values of equity securities, such as common stocks and preferred stocks, or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company, such as real or perceived adverse economic conditions, changes in the general outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally. The market value of equity securities may also decline due to factors which affect a particular industry or industries, such as labor shortages or increased production costs and competitive conditions within an industry. Equity securities and equity related investments generally have greater market price volatility than fixed income securities.

Credit risk depends largely on the perceived financial health of bond issuers. In general, the credit rating is inversely related to the credit risk of the issuer. Higher rated bonds generally are deemed to have less credit risk, while lower or unrated bonds are deemed to have higher risk of default. The share price, yield and total return of a fund that holds securities with higher credit risk may be more volatile than those of a fund that holds bonds with lower credit risk. Similar to credit risk, a Fund may be exposed to counterparty risk, or the risk that an institution or other entity with which a Fund has unsettled or open transactions will default.

Certain investments held by a Fund expose the Fund to various risks which may include, but are not limited to, interest rate, prepayment, extension and foreign currency risks. Interest rate risk is the risk that fixed income securities will decline in value because of changes in interest rates. As nominal interest rates rise, the values of certain fixed income securities held by a Fund are likely to decrease. A nominal interest rate can be described as the sum of a real interest rate and an expected inflation rate. Fixed income securities with longer durations tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter durations. Duration is useful primarily as a measure of the sensitivity of a fixed income security’s market price to interest rate (i.e., yield) movements. Senior floating rate interests and securities subject to prepayment and extension risk generally offer less potential for gains when interest rates decline. 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 and extension risk are major risks of mortgage backed securities, senior floating rate interests and certain asset backed securities. For certain asset backed securities, the actual maturity may be less than the stated maturity shown in the Schedule of Investments, if applicable. As a result, the timing of income recognition relating to these securities may vary based upon the actual maturity.

If a Fund invests directly in foreign currencies or in securities that trade in, and receive revenues in, foreign currencies, or in derivatives that provide exposure to foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the base currency (U.S. dollars) of the Fund, or, in the case of hedging positions, that the Fund’s base currency will decline in value relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates, intervention (or the failure to intervene) by U.S. or foreign governments, central banks or supranational entities, such as the International Monetary Fund, or by the imposition of currency controls or other political developments in the United States or abroad. As a result, a Fund’s investments in foreign currency denominated securities may reduce the returns, if applicable, of the Fund.

6.	Federal Income Taxes:

Each Fund intends to continue to qualify as a Regulated Investment Company (“RIC”) 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. Each Fund has distributed substantially all of its income and capital gains in prior years, if applicable, and intends to distribute substantially all of its income and capital gains during the calendar year ending December 31, 2016. 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.

Net Investment Income (Loss), Net Realized Gains (Losses) and Distributions – Net investment income (loss) and net realized gains (losses) may differ for financial statement and tax purposes primarily because of losses deferred due to wash sale adjustments, foreign currency gains and losses, adjustments related to Passive Foreign Investment Companies (“PFICs”), Real Estate Investment Trusts (“REITs”), RICs, certain derivatives and partnerships. The character of distributions made during the year from net investment income or net 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 each Fund.


		235

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

Distributions and Components of Distributable Earnings – The tax character of distributions paid by each Fund for the years ended December 31, 2016 and December 31, 2015 are as follows (as adjusted for dividends payable, if applicable):


	For the Year Ended December 31, 2016				For the Year Ended December 31, 2015
Fund	Ordinary Income		Long-Term Capital Gains⁽¹⁾		Ordinary Income		Long-Term Capital Gains⁽¹⁾
Balanced HLS Fund	$	64,341,864	$	—	$	48,113,111	$	—
Capital Appreciation HLS Fund		109,413,745		483,020,980		395,608,528		941,479,163
Disciplined Equity HLS Fund		5,779,778		86,580,393		17,696,259		226,565,250
Dividend and Growth HLS Fund		67,340,704		368,805,693		81,615,645		497,141,842
Global Growth HLS Fund		2,719,592		46,632,592		2,330,348		21,960,413
Growth Opportunities HLS Fund		63,046,538		135,646,185		75,794,685		207,664,278
Healthcare HLS Fund		16,501,827		59,648,396		3,015,270		46,392,436
High Yield HLS Fund		20,173,151		—		24,914,498		—
International Opportunities HLS Fund		19,934,946		—		20,056,070		—
MidCap HLS Fund		3,018,544		179,809,066		13,749,279		197,614,796
MidCap Value HLS Fund		3,944,532		46,923,488		5,717,645		55,282,288
Small Cap Growth HLS Fund		3,674,250		47,394,376		17,138,693		81,861,568
Small Company HLS Fund		—		96,202,028		48,556,100		208,942,541
Small/Mid Cap Equity HLS Fund		1,209,387		5,663,682		3,215,842		15,912,525
Stock HLS Fund		26,635,480		—		27,684,514		—
Total Return Bond HLS Fund		65,470,345		10,007,821		137,524,741		23,735,354
Ultrashort Bond HLS Fund		2,672,149		—		2,122,089		32,791
U.S. Government Securities HLS Fund		9,029,477		—		9,323,867		—
Value HLS Fund		10,899,057		62,514,733		10,774,724		15,734,487

⁽¹⁾

The Funds designate these distributions as long-term capital gain dividends pursuant to IRC Sec. 852(b)(3)(c).

As of December 31, 2016, the components of distributable earnings (deficit) for each Fund on a tax basis are as follows:


Fund	Undistributed Ordinary Income		Undistributed Long-Term Capital Gain		Accumulated Capital and Other Losses⁽¹⁾			Unrealized Appreciation (Depreciation) on Investments⁽²⁾			Total Accumulated Earnings (Deficit)
Balanced HLS Fund	$	11,750,519	$	—	$	(81,507,953	)	$	387,267,803		$	317,510,369
Capital Appreciation HLS Fund		9,755,936		49,402,766		—			250,095,066			309,253,768
Disciplined Equity HLS Fund		181,803		65,715,031		—			123,413,429			189,310,263
Dividend and Growth HLS Fund		406,191		222,161,590		—			997,736,549			1,220,304,330
Global Growth HLS Fund		2,331,234		22,480,542		—			52,868,409			77,680,185
Growth Opportunities HLS Fund		—		18,391,824		—			91,778,449			110,170,273
Healthcare HLS Fund		3,189		49,738,559		—			11,153,421			60,895,169
High Yield HLS Fund		18,453,351		—		(30,397,808	)		1,954,857			(9,989,600	)
International Opportunities HLS Fund		20,907,509		—		(300,038,070	)		26,731,796			(252,398,765	)
MidCap HLS Fund		20,852		67,862,668		—			380,800,413			448,683,933
MidCap Value HLS Fund		1,962,506		24,377,824		—			62,490,565			88,830,895
Small Cap Growth HLS Fund		1,097,782		—		(14,173,818	)		146,439,905			133,363,869
Small Company HLS Fund		—		—		(91,853,413	)		71,704,812			(20,148,601	)
Small/Mid Cap Equity HLS Fund		1,102,708		2,803,669		—			14,333,783			18,240,160
Stock HLS Fund		724,929		—		(133,818,999	)		243,786,561			110,692,491
Total Return Bond HLS Fund		70,944,133		—		(14,650,246	)		5,062,642			61,356,529
Ultrashort Bond HLS Fund		4,216,358		—		(667,792	)		(80,839	)		3,467,727
U.S. Government Securities HLS Fund		8,912,051		—		(107,940,492	)		(1,849,076	)		(100,877,517	)
Value HLS Fund		939,208		34,865,686		—			122,213,385			158,018,279

⁽¹⁾

The Funds have capital loss carryforwards that are identified in the Capital Loss Carryforward note that follows.

⁽²⁾

Differences between book-basis and tax-basis unrealized appreciation (depreciation) may be attributable to the losses deferred due to wash sale adjustments, foreign currency gains and losses, adjustments related to PFICs, REITs, RICs, certain derivatives and partnerships.


		236

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

Reclassification of Capital Accounts – The Funds may record reclassifications in their capital accounts. These reclassifications have no impact on the total net assets of the Funds. The reclassifications are a result of permanent differences between U.S. GAAP and tax accounting for such items as foreign currency gain/loss, expiration of capital loss carryforwards, write-off or utilization of net operating losses and tax adjustments related to PFIC, swap and partnership investments. Adjustments are made to reflect the impact these items have on current and future distributions to shareholders. Therefore, the source of the Funds’ distributions may be shown in the accompanying Statements of Changes in Net Assets as from undistributed net investment income, from accumulated 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, 2016, the Funds recorded reclassifications to increase (decrease) the accounts listed below:


Fund	Capital Stock and Paid-in-Capital			Undistributed Net Investment Income (Loss)			Accumulated Net Realized Gain (Loss)
Balanced HLS Fund	$	(15,494	)	$	(1,192,329	)	$	1,207,823
Capital Appreciation HLS Fund		(2,173,622	)		5,675,544			(3,501,922	)
Disciplined Equity HLS Fund		—			(70,591	)		70,591
Dividend and Growth HLS Fund		(1	)		(2,293,544	)		2,293,545
Global Growth HLS Fund		—			76,783			(76,783	)
Growth Opportunities HLS Fund		(1,731,481	)		1,782,043			(50,562	)
Healthcare HLS Fund		—			(528,215	)		528,215
High Yield HLS Fund		—			213,198			(213,198	)
International Opportunities HLS Fund		(94,110,554	)		465,602			93,644,952
MidCap HLS Fund		—			(283,095	)		283,095
MidCap Value HLS Fund		—			744,190			(744,190	)
Small Cap Growth HLS Fund		—			(234,630	)		234,630
Small Company HLS Fund		(1,502,213	)		1,080,338			421,875
Small/Mid Cap Equity HLS Fund		—			(45,192	)		45,192
Stock HLS Fund		1			(623,181	)		623,180
Total Return Bond HLS Fund		(1	)		(14,644,799	)		14,644,800
Ultrashort Bond HLS Fund		(1	)		458,312			(458,311	)
U.S. Government Securities HLS Fund		1			838,620			(838,621	)
Value HLS Fund		1			(463,333	)		463,332

Capital Loss Carryforward – On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (the “Act”) was enacted, which made changes to the capital loss carryforward rules. The changes are effective for taxable years beginning after the date of enactment. Under the Act, funds are permitted to carry forward capital losses for an unlimited period. However, any losses incurred during those future taxable years will be required to be utilized prior to the losses incurred in pre-enactment taxable years, which carry an expiration date. As a result of this ordering rule, pre-enactment capital loss carryforwards may be more likely to expire unused. Additionally, post-enactment capital loss carryforwards retain their character as either short-term or long-term capital losses rather than being considered all short-term as permitted under prior regulation.


		237

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

At December 31, 2016 (tax year end), the capital loss carryforwards for U.S. federal income tax purposes were as follows:


	Year of Expiration				Unlimited Short-Term Capital Loss Carryforward		Unlimited Long-Term Capital Loss Carryforward
Fund	2017		2018		Unlimited Short-Term Capital Loss Carryforward		Unlimited Long-Term Capital Loss Carryforward
Balanced HLS Fund	$	81,507,953	$	—	$	—	$	—
High Yield HLS Fund		9,709,378		—		4,253,411		16,435,019
International Opportunities HLS Fund		287,600,120		—		12,437,950		—
Small Cap Growth HLS Fund		—		—		14,173,818		—
Small Company HLS Fund		—		—		89,790,983		2,062,430
Stock HLS Fund		133,818,999		—		—		—
Total Return Bond HLS Fund		—		—		11,966,088		2,684,158
Ultrashort Bond HLS Fund		—		—		260,576		407,216
U.S. Government Securities HLS Fund		25,163,377		58,149,395		—		24,627,720

Capital Appreciation HLS Fund, Disciplined Equity HLS Fund, Dividend and Growth HLS Fund, Global Growth HLS, Growth Opportunities HLS Fund, Healthcare HLS Fund, MidCap HLS Fund, MidCap Value HLS Fund, Small/Mid Cap Equity HLS Fund and Value HLS Fund had no capital loss carryforwards for U.S. federal income tax purposes as of December 31, 2016.

During the year ended December 31, 2016, Balanced HLS Fund, Stock HLS Fund and U.S. Government Securities HLS Fund utilized $117,542,438, $126,576,029 and $5,844,416 of prior year capital loss carryforwards, respectively.

During the year ended December 31, 2016, International Opportunities HLS Fund had expired $94,110,554 of prior year capital loss carryforwards.

Accounting for Uncertainty in Income Taxes – Pursuant to provisions set forth by U.S. GAAP, Hartford Funds Management Company, LLC (“HFMC”) reviews each Fund’s tax positions for all open tax years. As of December 31, 2016, HFMC had reviewed the open tax years and concluded that there was no reason to record a liability for net unrecognized tax obligations relating to uncertain income tax positions. Each Fund files U.S. tax returns. Although the statute of limitations for examining a Fund’s U.S. tax returns remains open for 3 years, no examination is currently in progress. HFMC is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax obligations will significantly change in the next twelve months.

7.	Expenses:

Investment Management Agreement – HFMC serves as each Fund’s investment manager. Each Company, on behalf of its respective Funds, has entered into an Investment Management Agreement with HFMC. HFMC is an indirect subsidiary of The Hartford Financial Services Group, Inc. (“The Hartford”). HFMC has overall investment supervisory responsibility for each Fund. In addition, HFMC provides administrative personnel, services, equipment, facilities and office space for proper operation of each Fund. HFMC has contracted with Wellington Management Company LLP (“Wellington Management”) under a sub-advisory agreement and Wellington Management performs the daily investment of the assets of each Fund in accordance with the Fund’s investment objective and policies. Each Fund pays a fee to HFMC, a portion of which may be used to compensate Wellington Management.


		238

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

The schedule below reflects the rates of compensation paid to HFMC for investment management services rendered as of December 31, 2016; the rates are accrued daily and paid monthly based on each Fund’s average daily net assets, at the following annual rates:


Fund		Management Fee Rates
Balanced HLS Fund		0.6800% on first $250 million and;
		0.6550% on next $250 million and;
		0.6450% on next $500 million and;
		0.5950% on next $4 billion and;
		0.5925% on next $5 billion and;
		0.5900% over $10 billion

Capital Appreciation HLS Fund		0.7750% on first $250 million and;
		0.7250% on next $250 million and;
		0.6750% on next $500 million and;
		0.6250% on next $1.5 billion and;
		0.6200% on next $2.5 billion and;
		0.6150% on next $5 billion and;
		0.6100% over $10 billion

Disciplined Equity HLS Fund		0.7750% on first $250 million and;
		0.7250% on next $250 million and;
		0.6750% on next $500 million and;
		0.6250% on next $4 billion and;
		0.6225% on next $5 billion and;
		0.6200% over $10 billion

Dividend and Growth HLS Fund		0.7750% on first $250 million and;
		0.7250% on next $250 million and;
		0.6750% on next $500 million and;
		0.6250% on next $1.5 billion and;
		0.6200% on next $2.5 billion and;
		0.6150% on next $5 billion and;
		0.6100% over $10 billion

Global Growth HLS Fund		0.7750% on first $250 million and;
		0.7250% on next $250 million and;
		0.6750% on next $500 million and;
		0.6250% on next $4 billion and;
		0.6225% on next $5 billion and;
		0.6200% over $10 billion

Growth Opportunities HLS Fund		0.7000% on first $100 million and;
		0.6000% on next $4.9 billion and;
		0.5975% on next $5 billion and;
		0.5950% over $10 billion

Healthcare HLS Fund		0.8500% on first $250 million and;
		0.8000% on next $250 million and;
		0.7500% on next $4.5 billion and;
		0.7475% on next $5 billion and;
		0.7450% over $10 billion


		239

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016


Fund		Management Fee Rates
High Yield HLS Fund		0.7000% on first $500 million and;
		0.6750% on next $500 million and;
		0.6250% on next $1.5 billion and;
		0.6150% on next $2.5 billion and;
		0.6050% on next $5 billion and;
		0.5950% over $10 billion

International Opportunities HLS Fund		0.7750% on first $250 million and;
		0.7250% on next $250 million and;
		0.6750% on next $500 million and;
		0.6250% on next $1.5 billion and;
		0.6200% on next $2.5 billion and;
		0.6150% on next $5 billion and;
		0.6100% over $10 billion

MidCap HLS Fund		0.7750% on first $250 million and;
		0.7250% on next $250 million and;
		0.6750% on next $500 million and;
		0.6250% on next $4 billion and;
		0.6225% on next $5 billion and;
		0.6200% over $10 billion

MidCap Value HLS Fund		0.8000% on first $500 million and;
		0.7250% on next $500 million and;
		0.6750% on next $1.5 billion and;
		0.6700% on next $2.5 billion and;
		0.6650% on next $5 billion and;
		0.6600% over $10 billion

Small Cap Growth HLS Fund		0.7000% on first $100 million and;
		0.6000% on next $4.9 billion and;
		0.5800% on next $5 billion and;
		0.5700% over $10 billion

Small Company HLS Fund		0.7750% on first $250 million and;
		0.7250% on next $250 million and;
		0.6750% on next $500 million and;
		0.6000% on next $500 million and;
		0.5500% on next $3.5 billion and;
		0.5300% on next $5 billion and;
		0.5200% over $10 billion

Small/Mid Cap Equity HLS Fund		0.8000% on first $500 million and;
		0.7500% on next $500 million and;
		0.7000% on next $2 billion and;
		0.6900% on next $2 billion and;
		0.6800% on next $5 billion and;
		0.6700% over $10 billion

Stock HLS Fund		0.5250% on first $250 million and;
		0.5000% on next $250 million and;
		0.4750% on next $500 million and;
		0.4500% on next $4 billion and;
		0.4475% on next $5 billion and;
		0.4450% over $10 billion


		240

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016


Fund		Management Fee Rates
Total Return Bond HLS Fund		0.5250% on first $250 million and;
		0.5000% on next $250 million and;
		0.4750% on next $500 million and;
		0.4500% on next $1.5 billion and;
		0.4450% on next $2.5 billion and;
		0.4300% on next $5 billion and;
		0.4200% over $10 billion

Ultrashort Bond HLS Fund		0.4000% on first $5 billion and;
		0.3800% on next $5 billion and;
		0.3700% over $10 billion

U.S. Government Securities HLS Fund		0.4500% on first $500 million and;
		0.4450% on next $500 million and;
		0.4400% on next $1.5 billion and;
		0.4350% on next $2.5 billion and;
		0.4300% on next $5 billion and;
		0.4200% over $10 billion

Value HLS Fund		0.7750% on first $250 million and;
		0.7250% on next $250 million and;
		0.6750% on next $500 million and;
		0.6250% on next $1.5 billion and;
		0.6200% on next $2.5 billion and;
		0.6150% on next $5 billion and;
		0.6100% over $10 billion

HFMC contractually agreed to waive investment management fees of 0.02% of average daily net assets until December 31, 2016, for the Balanced HLS Fund.

Accounting Services Agreement – Pursuant to the Fund Accounting Agreement between HFMC and each Company, on behalf of its respective Funds, HFMC provides accounting services to each Fund and receives monthly compensation based on each Fund’s average daily net assets at the rates set forth below. Each Fund’s accounting services fees are accrued daily and paid monthly.


Fund		Accounting Services Fee Rates
Balanced HLS Fund		0.016% on first $5 billion and;
		0.013% on next $5 billion and;
		0.010% over $10 billion

Capital Appreciation HLS Fund		0.018% on first $5 billion and;
		0.014% on next $5 billion and;
		0.010% over $10 billion

Disciplined Equity HLS Fund		0.012% on first $5 billion and;
		0.010% over $5 billion

Dividend and Growth HLS Fund		0.012% on first $5 billion and;
		0.010% over $5 billion

Global Growth HLS Fund		0.014% on first $5 billion and;
		0.012% on next $5 billion and;
		0.010% over $10 billion

Growth Opportunities HLS Fund		0.010% on all assets

Healthcare HLS Fund		0.010% on all assets


		241

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016


Fund		Accounting Services Fee Rates
High Yield HLS Fund		0.020% on first $5 billion and;
		0.015% on next $5 billion and;
		0.010% over $10 billion

International Opportunities HLS Fund		0.016% on first $5 billion and;
		0.013% on next $5 billion and;
		0.010% over $10 billion

MidCap HLS Fund		0.010% on all assets

MidCap Value HLS Fund		0.010% on all assets

Small Cap Growth HLS Fund		0.012% on first $5 billion and;
		0.010% over $5 billion

Small Company HLS Fund		0.012% on first $5 billion and;
		0.010% over $5 billion

Small/Mid Cap Equity HLS Fund		0.014% on first $5 billion and;
		0.012% on next $5 billion and;
		0.010% over $10 billion

Stock HLS Fund		0.010% on all assets

Total Return Bond HLS Fund		0.020% on first $5 billion and;
		0.015% on next $5 billion and;
		0.010% over $10 billion

Ultrashort Bond HLS Fund		0.010% on all assets

U.S. Government Securities HLS Fund		0.012% on first $5 billion and;
		0.010% over $5 billion

Value HLS Fund		0.010% on all assets

Effective January 1, 2015, HFMC has delegated certain accounting and administrative services functions to State Street Bank and Trust Company (“State Street”). The costs and expenses of such delegation are borne by HFMC, not by the Funds, and HFMC compensates State Street for its services out of its own resources.

Operating Expenses – Allocable expenses incurred by each Company are allocated to each Fund, as applicable, and allocated to classes within each Fund in proportion to the average daily net assets of each Fund and each class, except where allocation of certain expenses is more fairly made directly to each Fund or to specific classes within a Fund.

Fees Paid Indirectly – Hartford HLS Series Fund II, Inc., on behalf of its series except U.S. Government Securities HLS Fund, and Hartford Series Fund, Inc., on behalf of its series except High Yield HLS Fund, Total Return Bond HLS Fund and Ultrashort Bond HLS Fund, have entered into agreements with State Street Global Markets, LLC and Russell Implementation Services, 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 agreed to reduce its fees when a Fund maintains cash on deposit in a non-interest-bearing custody account. For the year ended December 31, 2016, these amounts, if any, are included in the Statements of Operations.


		242

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

The ratio of expenses to average net assets in the accompanying financial highlights excludes the reduction in expenses related to fees paid indirectly. The annualized expense ratio after waivers reflecting the reduction for fees paid indirectly for the period is as follows:


Fund	Class IA			Class IB			Class IC
Balanced HLS Fund		0.64	%		0.89	%		—
Capital Appreciation HLS Fund		0.68	%		0.93	%		1.18	%
Disciplined Equity HLS Fund		0.79	%		1.04	%		—
Dividend and Growth HLS Fund		0.69	%		0.94	%		—
Global Growth HLS Fund		0.82	%		1.07	%		—
Growth Opportunities HLS Fund		0.65	%		0.90	%		1.14	%
Healthcare HLS Fund		0.89	%		1.14	%		—
High Yield HLS Fund		0.79	%		1.04	%		—
International Opportunities HLS Fund		0.76	%		1.01	%		—
MidCap HLS Fund		0.71	%		0.96	%		—
MidCap Value HLS Fund		0.86	%		1.11	%		—
Small Cap Growth HLS Fund		0.65	%		0.90	%		—
Small Company HLS Fund		0.76	%		1.00	%		—
Small/Mid Cap Equity HLS Fund		0.92	%		1.17	%		—
Stock HLS Fund		0.52	%		0.77	%		—
Total Return Bond HLS Fund		0.52	%		0.77	%		—
Ultrashort Bond HLS Fund		0.45	%		0.70	%		—
U.S. Government Securities HLS Fund		0.51	%		0.76	%		—
Value HLS Fund		0.80	%		1.05	%		—

Distribution Plans for Class IB and Class IC Shares – Hartford Funds Distributors, LLC (“HFD”), an indirect subsidiary of The Hartford, is the principal underwriter and distributor of each Fund. Each Company, on behalf of its respective Funds, has adopted a Distribution Plan pursuant to Rule 12b-1 of the 1940 Act for Class IB shares and each Company, on behalf of certain Funds, has adopted a Distribution Plan pursuant to Rule 12b-1 of the 1940 Act for Class IC shares.

Pursuant to the Class IB Distribution Plans, a Fund may pay HFD a fee of up to 0.25% of the average daily net assets of the Fund attributable to its Class IB shares for distribution financing activities and shareholder account servicing activities. The entire amount of the fee may be used for shareholder servicing expenses and/or distribution expenses. Pursuant to the Class IC Distribution Plans, a Fund may pay HFD a fee of up to 0.25% of the average daily net assets of the Fund attributable to its Class IC shares for distribution financing activities.

Each Board has the authority to suspend or reduce these payments at any point in time. The distribution fees paid during the period can be found on the Statements of Operations. Each Fund’s 12b-1 fees are accrued daily and paid monthly or at such other intervals as the respective Company’s Board of Directors may determine.

Administrative Services Fee for Class IC Shares – Certain Funds may pay an administrative services fee to third party insurance companies annually up to 0.25% of the average daily net assets of the Fund attributable to its Class IC shares for recordkeeping and/or other administrative services provided to such Class IC shares. The total administrative services fees paid during the period are shown on the Statements of Operations. These fees are accrued daily and paid monthly.

Other Related Party Transactions – Certain officers of each Company are directors and/or officers of HFMC and/or The Hartford or its subsidiaries. For the year ended December 31, 2016, a portion of each Company’s Chief Compliance Officer’s (“CCO”) compensation


		243

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

was paid by all of the investment companies in the Hartford fund complex. The portion allocated to each Fund, as represented in other expenses on the Statement of Operations, is outlined in the table below.


Fund	CCO Compensation Paid by Fund
Hartford Balanced HLS Fund	$	5,844
Hartford Capital Appreciation HLS Fund		13,845
Hartford Disciplined Equity HLS Fund		1,674
Hartford Dividend & Growth HLS Fund		7,986
Hartford Global Growth HLS Fund		1,071
Hartford Growth Opportunities HLS Fund		3,191
Hartford Healthcare HLS Fund		827
Hartford High Yield HLS Fund		798
Hartford International Opportunities HLS Fund		3,035
Hartford MidCap HLS Fund		4,190
Hartford MidCap Value HLS Fund		883
Hartford Small Cap Growth HLS Fund		2,677
Hartford Small Company HLS Fund		2,478
Hartford Small/Mid Cap Equity HLS Fund		221
Hartford Stock HLS Fund		3,645
Hartford Total Return Bond HLS Fund		6,401
Hartford Ultrashort Bond HLS Fund		1,596
Hartford US Government Securities HLS Fund		1,205
Hartford Value HLS Fund		1,248

Hartford Administrative Services Company (“HASCO”), an indirect subsidiary of The Hartford, provides transfer agent services to each Fund. Pursuant to a sub-transfer agency agreement between HASCO and Boston Financial Data Services, Inc. (“BFDS”), HASCO has delegated certain transfer agent, dividend disbursing agent and shareholder servicing agent functions to BFDS. The costs and expenses of such delegation are borne by HASCO, not by the Funds. Each Fund pays HASCO a fixed fee annually, plus out of pocket expenses for providing such services. The amount paid to HASCO can be found in the Statements of Operations. These fees are accrued daily and paid monthly.

For the year ended December 31, 2016, the rate of compensation paid to HASCO for transfer agency services as a percentage of each Fund’s average daily net assets is as follows:


Fund	Percent of Average Daily Net Assets
Balanced HLS Fund		0.00	%
Capital Appreciation HLS Fund		0.00	%
Disciplined Equity HLS Fund		0.00	%
Dividend and Growth HLS Fund		0.00	%
Global Growth HLS Fund		0.00	%
Growth Opportunities HLS Fund		0.00	%
Healthcare HLS Fund		0.00	%
High Yield HLS Fund		0.00	%
International Opportunities HLS Fund		0.00	%
MidCap HLS Fund		0.00	%
MidCap Value HLS Fund		0.00	%
Small Cap Growth HLS Fund		0.00	%
Small Company HLS Fund		0.00	%
Small/Mid Cap Equity HLS Fund		0.01	%
Stock HLS Fund		0.00	%
Total Return Bond HLS Fund		0.00	%
Ultrashort Bond HLS Fund		0.00	%
U.S. Government Securities HLS Fund		0.00	%
Value HLS Fund		0.00	%


		244

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

8.	Affiliate Holdings:

As of December 31, 2016, affiliates of The Hartford had ownership of shares in each Fund as follows:

Percentage of a Class:

Fund

Class IA

Class IB

Class IC

Balanced HLS Fund

—

Capital Appreciation HLS Fund

—

Disciplined Equity HLS Fund

—

Dividend and Growth HLS Fund

—

Global Growth HLS Fund

—

Growth Opportunities HLS Fund

—

Healthcare HLS Fund

—

High Yield HLS Fund

—

International Opportunities HLS Fund

—

MidCap HLS Fund

—

MidCap Value HLS Fund

—

Small Cap Growth HLS Fund

—

Small Company HLS Fund

—

Small/Mid Cap Equity HLS Fund

—

Stock HLS Fund

—

Total Return Bond HLS Fund

—

Ultrashort Bond HLS Fund

—

U.S. Government Securities HLS Fund

—

Value HLS Fund

—

Percentage of Fund by Class:

Fund

Class IA

Class IB

Class IC

Balanced HLS Fund

—

Capital Appreciation HLS Fund

—

Disciplined Equity HLS Fund

—

Dividend and Growth HLS Fund

—

Global Growth HLS Fund

—

Growth Opportunities HLS Fund

—

Healthcare HLS Fund

—

High Yield HLS Fund

—

International Opportunities HLS Fund

—

MidCap HLS Fund

—

MidCap Value HLS Fund

—

Small Cap Growth HLS Fund

—

Small Company HLS Fund

—

Small/Mid Cap Equity HLS Fund

—

Stock HLS Fund

—

Total Return Bond HLS Fund

—

Ultrashort Bond HLS Fund

—

U.S. Government Securities HLS Fund

—

Value HLS Fund

—

Percentage rounds to zero.


		245

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

9.	Investment Transactions:

For the year ended December 31, 2016, the cost of purchases and proceeds from sales of investment securities (excluding short-term investments) were as follows:


Fund	Cost of Purchases Excluding U.S. Government Obligations		Sales Proceeds Excluding U.S. Government Obligations
Balanced HLS Fund	$	456,628,069	$	628,465,208
Capital Appreciation HLS Fund		5,761,897,146		7,137,942,333
Disciplined Equity HLS Fund		224,623,983		310,801,193
Dividend and Growth HLS Fund		649,099,861		1,071,883,525
Global Growth HLS Fund		284,840,885		346,778,904
Growth Opportunities HLS Fund		1,829,379,769		1,893,771,147
Healthcare HLS Fund		121,090,004		210,718,874
High Yield HLS Fund		128,164,298		153,598,627
International Opportunities HLS Fund		1,159,749,574		1,209,370,601
MidCap HLS Fund		562,387,367		695,815,869
MidCap Value HLS Fund		138,071,430		182,427,264
Small Cap Growth HLS Fund		558,834,109		609,903,204
Small Company HLS Fund		939,074,799		1,204,148,993
Small/Mid Cap Equity HLS Fund		87,154,461		91,220,063
Stock HLS Fund		427,187,588		576,415,244
Total Return Bond HLS Fund		907,395,742		1,324,535,410
Ultrashort Bond HLS Fund		149,673,458		226,183,391
U.S. Government Securities HLS Fund		56,150,012		79,488,713
Value HLS Fund		77,395,166		130,447,178

Fund	Cost of Purchases For U.S. Government Obligations		Sales Proceeds For U.S. Government Obligations
Balanced HLS Fund	$	139,937,897	$	240,650,960
Capital Appreciation HLS Fund		—		—
Disciplined Equity HLS Fund		—		—
Dividend and Growth HLS Fund		—		—
Global Growth HLS Fund		—		—
Growth Opportunities HLS Fund		—		—
Healthcare HLS Fund		—		—
High Yield HLS Fund		—		—
International Opportunities HLS Fund		—		—
MidCap HLS Fund		—		—
MidCap Value HLS Fund		—		—
Small Cap Growth HLS Fund		—		—
Small Company HLS Fund		—		—
Small/Mid Cap Equity HLS Fund		—		—
Stock HLS Fund		—		—
Total Return Bond HLS Fund		342,635,373		312,584,993
Ultrashort Bond HLS Fund		158,029,839		200,565,589
U.S. Government Securities HLS Fund		407,799,276		440,277,572
Value HLS Fund		—		—


		246

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016


Fund	Total Cost of Purchases		Total Sales Proceeds
Balanced HLS Fund	$	596,565,966	$	869,116,168
Capital Appreciation HLS Fund		5,761,897,146		7,137,942,333
Disciplined Equity HLS Fund		224,623,983		310,801,193
Dividend and Growth HLS Fund		649,099,861		1,071,883,525
Global Growth HLS Fund		284,840,885		346,778,904
Growth Opportunities HLS Fund		1,829,379,769		1,893,771,147
Healthcare HLS Fund		121,090,004		210,718,874
High Yield HLS Fund		128,164,298		153,598,627
International Opportunities HLS Fund		1,159,749,574		1,209,370,601
MidCap HLS Fund		562,387,367		695,815,869
MidCap Value HLS Fund		138,071,430		182,427,264
Small Cap Growth HLS Fund		558,834,109		609,903,204
Small Company HLS Fund		939,074,799		1,204,148,993
Small/Mid Cap Equity HLS Fund		87,154,461		91,220,063
Stock HLS Fund		427,187,588		576,415,244
Total Return Bond HLS Fund		1,250,031,115		1,637,120,403
Ultrashort Bond HLS Fund		307,703,297		426,748,980
U.S. Government Securities HLS Fund		463,949,288		519,766,285
Value HLS Fund		77,395,166		130,447,178

10.

Capital Share Transactions:

The following information is for the year ended December 31, 2016, and the year ended December 31, 2015:



Balanced HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		432,134		$	11,762,594			469,371		$	12,840,849
Shares Issued for Reinvested Dividends		2,066,809			57,374,388			1,613,469			43,115,909
Shares Redeemed		(11,127,409	)		(301,710,149	)		(13,603,501	)		(371,124,721	)

Net Increase (Decrease)		(8,628,466	)		(232,573,167	)		(11,520,661	)		(315,167,963	)

Class IB
Shares Sold		183,197		$	4,893,695			139,993		$	3,867,458
Shares Issued for Reinvested Dividends		247,482			6,967,476			184,225			4,997,202
Shares Redeemed		(1,673,760	)		(46,010,455	)		(2,369,687	)		(65,344,297	)

Net Increase (Decrease)		(1,243,081	)		(34,149,284	)		(2,045,469	)		(56,479,637	)

Total Net Increase (Decrease)		(9,871,547	)	$	(266,722,451	)		(13,566,130	)	$	(371,647,600	)


		247

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016



Capital Appreciation HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		1,890,996		$	80,924,245			3,266,797		$	165,572,633
Shares Issued for Reinvested Dividends		12,769,224			530,174,730			26,063,902			1,196,703,908
Shares Redeemed		(34,600,429	)		(1,476,715,307	)		(19,316,788	)		(1,015,737,819	)

Net Increase (Decrease)		(19,940,209	)		(865,616,332	)		10,013,911			346,538,722

Class IB
Shares Sold		115,545		$	4,798,062			172,518		$	8,688,942
Shares Issued for Reinvested Dividends		1,471,280			60,184,340			3,043,632			137,948,750
Shares Redeemed		(2,744,732	)		(115,383,323	)		(2,715,739	)		(139,784,790	)

Net Increase (Decrease)		(1,157,907	)		(50,400,921	)		500,411			6,852,902

Class IC
Shares Sold		155,349		$	6,572,808			284,973		$	14,624,663
Shares Issued for Reinvested Dividends		50,492			2,075,655			53,375			2,435,033
Shares Redeemed		(55,844	)		(2,347,703	)		(34,820	)		(1,661,177	)

Net Increase (Decrease)		149,997			6,300,760			303,528			15,398,519

Total Net Increase (Decrease)		(20,948,119	)	$	(909,716,493	)		10,817,850		$	368,790,143


Disciplined Equity HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		1,162,708		$	17,069,443			589,196		$	10,439,373
Shares Issued for Reinvested Dividends		5,685,375			81,089,435			13,406,784			213,986,540
Shares Redeemed		(7,445,491	)		(111,694,506	)		(7,325,609	)		(141,925,976	)

Net Increase (Decrease)		(597,408	)		(13,535,628	)		6,670,371			82,499,937

Class IB
Shares Sold		244,068		$	3,630,073			168,976		$	2,946,000
Shares Issued for Reinvested Dividends		798,826			11,270,736			1,914,322			30,274,969
Shares Redeemed		(1,248,004	)		(18,586,945	)		(1,292,932	)		(25,084,582	)

Net Increase (Decrease)		(205,110	)		(3,686,136	)		790,366			8,136,387

Total Net Increase (Decrease)		(802,518	)	$	(17,221,764	)		7,460,737		$	90,636,324


		248

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016



Dividend and Growth HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		5,495,742		$	123,287,564			2,257,878		$	56,525,716
Shares Issued for Reinvested Dividends		17,932,886			380,223,306			21,995,067			503,458,112
Shares Redeemed		(22,492,815	)		(495,062,146	)		(21,218,821	)		(531,488,308	)

Net Increase (Decrease)		935,813			8,448,724			3,034,124			28,495,520

Class IB
Shares Sold		499,749		$	10,925,264			395,051		$	9,477,984
Shares Issued for Reinvested Dividends		2,654,218			55,923,091			3,302,608			75,299,375
Shares Redeemed		(3,669,262	)		(80,212,091	)		(3,972,074	)		(99,357,475	)

Net Increase (Decrease)		(515,295	)		(13,363,736	)		(274,415	)		(14,580,116	)

Total Net Increase (Decrease)		420,518		$	(4,915,012	)		2,759,709		$	13,915,404


Global Growth HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		543,460		$	12,675,555			935,076		$	23,257,954
Shares Issued for Reinvested Dividends		1,805,742			40,737,536			802,612			19,872,670
Shares Redeemed		(2,745,818	)		(63,750,555	)		(2,017,988	)		(49,833,729	)

Net Increase (Decrease)		(396,616	)		(10,337,464	)		(280,300	)		(6,703,105	)

Class IB
Shares Sold		181,152		$	4,134,958			272,638		$	6,866,485
Shares Issued for Reinvested Dividends		384,926			8,614,648			179,743			4,418,091
Shares Redeemed		(848,234	)		(19,479,718	)		(812,324	)		(19,908,755	)

Net Increase (Decrease)		(282,156	)		(6,730,112	)		(359,943	)		(8,624,179	)

Total Net Increase (Decrease)		(678,772	)	$	(17,067,576	)		(640,243	)	$	(15,327,284	)


		249

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016



Growth Opportunities HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		4,317,826		$	143,218,022			1,044,247		$	39,449,289
Shares Issued for Reinvested Dividends		5,633,211			174,516,879			7,007,351			247,639,819
Shares Redeemed		(5,899,305	)		(190,123,880	)		(4,659,838	)		(181,701,168	)

Net Increase (Decrease)		4,051,732			127,611,021			3,391,760			105,387,940

Class IB
Shares Sold		288,529		$	9,169,198			405,871		$	15,372,728
Shares Issued for Reinvested Dividends		686,184			20,503,187			979,058			33,542,514
Shares Redeemed		(1,066,677	)		(33,338,544	)		(914,513	)		(34,771,551	)

Net Increase (Decrease)		(91,964	)		(3,666,159	)		470,416			14,143,691

Class IC
Shares Sold		254,301		$	8,077,525			499,835		$	18,859,811
Shares Issued for Reinvested Dividends		119,944			3,672,657			64,843			2,276,630
Shares Redeemed		(99,012	)		(3,177,329	)		(16,081	)		(608,691	)

Net Increase (Decrease)		275,233			8,572,853			548,597			20,527,750

Total Net Increase (Decrease)		4,235,001		$	132,517,715			4,410,773		$	140,059,381


Healthcare HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		1,315,220		$	34,964,722			3,399,145		$	109,589,966
Shares Issued for Reinvested Dividends		2,918,070			64,430,977			1,330,488			41,644,271
Shares Redeemed		(4,642,420	)		(118,901,866	)		(2,879,751	)		(89,869,052	)

Net Increase (Decrease)		(409,130	)		(19,506,167	)		1,849,882			61,365,185

Class IB
Shares Sold		177,850		$	4,516,085			256,484		$	7,997,496
Shares Issued for Reinvested Dividends		552,534			11,719,246			255,965			7,763,435
Shares Redeemed		(720,634	)		(17,478,196	)		(445,685	)		(13,476,919	)

Net Increase (Decrease)		9,750			(1,242,865	)		66,764			2,284,012

Total Net Increase (Decrease)		(399,380	)	$	(20,749,032	)		1,916,646		$	63,649,197


		250

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016



High Yield HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		2,932,807		$	23,188,946			2,617,181		$	21,697,811
Shares Issued for Reinvested Dividends		1,967,008			15,598,376			2,396,567			18,980,813
Shares Redeemed		(8,071,995	)		(63,756,161	)		(9,818,209	)		(81,320,965	)

Net Increase (Decrease)		(3,172,180	)		(24,968,839	)		(4,804,461	)		(40,642,341	)

Class IB
Shares Sold		922,611		$	7,179,450			607,578		$	4,903,841
Shares Issued for Reinvested Dividends		585,759			4,574,775			760,729			5,933,685
Shares Redeemed		(2,149,503	)		(16,659,640	)		(3,703,573	)		(29,754,673	)

Net Increase (Decrease)		(641,133	)		(4,905,415	)		(2,335,266	)		(18,917,147	)

Total Net Increase (Decrease)		(3,813,313	)	$	(29,874,254	)		(7,139,727	)	$	(59,559,488	)


International Opportunities HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		7,789,062		$	108,119,671			4,351,758		$	63,756,544
Shares Issued for Reinvested Dividends		1,261,253			17,922,412			1,200,778			17,879,578
Shares Redeemed		(12,946,295	)		(179,842,398	)		(12,532,632	)		(184,629,876	)

Net Increase (Decrease)		(3,895,980	)		(53,800,315	)		(6,980,096	)		(102,993,754	)

Class IB
Shares Sold		744,796		$	10,264,574			1,065,275		$	16,100,444
Shares Issued for Reinvested Dividends		139,856			2,012,534			144,330			2,176,492
Shares Redeemed		(2,536,882	)		(35,348,893	)		(2,491,080	)		(37,270,704	)

Net Increase (Decrease)		(1,652,230	)		(23,071,785	)		(1,281,475	)		(18,993,768	)

Total Net Increase (Decrease)		(5,548,210	)	$	(76,872,100	)		(8,261,571	)	$	(121,987,522	)


MidCap HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		4,162,036		$	140,508,393			6,120,970		$	232,038,567
Shares Issued for Reinvested Dividends		5,366,836			173,178,978			5,541,888			198,571,970
Shares Redeemed		(7,604,846	)		(252,673,800	)		(7,486,621	)		(279,695,610	)

Net Increase (Decrease)		1,924,026			61,013,571			4,176,237			150,914,927

Class IB
Shares Sold		208,879		$	6,848,448			1,472,929		$	55,008,904
Shares Issued for Reinvested Dividends		305,433			9,648,632			362,679			12,792,105
Shares Redeemed		(846,524	)		(27,738,828	)		(951,307	)		(36,505,511	)

Net Increase (Decrease)		(332,212	)		(11,241,748	)		884,301			31,295,498

Total Net Increase (Decrease)		1,591,814		$	49,771,823			5,060,538		$	182,210,425


		251

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016



MidCap Value HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		389,348		$	4,658,326			449,172		$	6,170,492
Shares Issued for Reinvested Dividends		3,439,721			38,903,246			3,572,628			46,086,897
Shares Redeemed		(3,280,710	)		(39,074,053	)		(4,047,882	)		(58,318,837)

Net Increase (Decrease)		548,359			4,487,519			(26,082	)		(6,061,448	)

Class IB
Shares Sold		185,352		$	2,186,176			153,855		$	2,252,753
Shares Issued for Reinvested Dividends		1,064,482			11,964,774			1,163,263			14,913,036
Shares Redeemed		(1,207,760	)		(14,245,410	)		(1,467,107	)		(20,389,208	)

Net Increase (Decrease)		42,074			(94,460	)		(149,989	)		(3,223,419	)

Total Net Increase (Decrease)		590,433		$	4,393,059			(176,071	)	$	(9,284,867	)


Small Cap Growth HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		6,146,285		$	150,379,245			19,697,951		$	535,691,497
Shares Issued for Reinvested Dividends		1,433,174			36,230,638			2,817,860			75,293,233
Shares Redeemed		(7,881,231	)		(192,825,988	)		(5,815,577	)		(162,067,889	)

Net Increase (Decrease)		(301,772	)		(6,216,105	)		16,700,234			448,916,841

Class IB
Shares Sold		1,573,648		$	37,425,555			4,994,251		$	145,842,507
Shares Issued for Reinvested Dividends		388,274			9,586,481			906,232			23,707,028
Shares Redeemed		(1,899,579	)		(45,456,649	)		(1,488,312	)		(39,637,029	)

Net Increase (Decrease)		62,343			1,555,387			4,412,171			129,912,506

Total Net Increase (Decrease)		(239,429	)	$	(4,660,718	)		21,112,405		$	578,829,347


Small Company HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		4,320,930		$	69,407,503			6,717,473		$	150,841,613
Shares Issued for Reinvested Dividends		5,503,709			87,123,722			11,998,775			235,415,969
Shares Redeemed		(22,041,377	)		(349,251,002	)		(9,745,990	)		(209,512,224	)

Net Increase (Decrease)		(12,216,738	)		(192,719,777	)		8,970,258			176,745,358

Class IB
Shares Sold		955,330		$	14,441,775			737,248		$	15,492,511
Shares Issued for Reinvested Dividends		615,478			9,078,306			1,196,244			22,082,672
Shares Redeemed		(2,695,510	)		(40,659,316	)		(1,518,245	)		(32,011,866	)

Net Increase (Decrease)		(1,124,702	)		(17,139,235	)		415,247			5,563,317

Total Net Increase (Decrease)		(13,341,440	)	$	(209,859,012	)		9,385,505		$	182,308,675


		252

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016



Small/Mid Cap Equity HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		1,366,914		$	10,705,912			398,575		$	3,507,708
Shares Issued for Reinvested Dividends		781,330			5,789,652			1,968,095			15,705,402
Shares Redeemed		(1,886,188	)		(13,863,228	)		(2,061,224	)		(18,373,275	)

Net Increase (Decrease)		262,056			2,632,336			305,446			839,835

Class IB
Shares Sold		424,789		$	3,209,670			149,538		$	1,423,572
Shares Issued for Reinvested Dividends		147,003			1,083,417			431,104			3,422,965
Shares Redeemed		(658,111	)		(4,818,908	)		(818,827	)		(7,315,334	)

Net Increase (Decrease)		(86,319	)		(525,821	)		(238,185	)		(2,468,797	)

Total Net Increase (Decrease)		175,737		$	2,106,515			67,261		$	(1,628,962	)


Stock HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		199,184		$	13,343,315			107,875		$	6,926,566
Shares Issued for Reinvested Dividends		356,943			24,394,377			395,269			25,254,549
Shares Redeemed		(2,794,292	)		(184,659,241	)		(3,288,501	)		(210,453,182	)

Net Increase (Decrease)		(2,238,165	)		(146,921,549	)		(2,785,357	)		(178,272,067	)

Class IB
Shares Sold		59,518		$	3,936,449			38,756		$	2,475,585
Shares Issued for Reinvested Dividends		32,802			2,241,103			38,043			2,429,965
Shares Redeemed		(446,429	)		(29,469,033	)		(514,770	)		(32,875,813	)

Net Increase (Decrease)		(354,109	)		(23,291,481	)		(437,971	)		(27,970,263	)

Total Net Increase (Decrease)		(2,592,274	)	$	(170,213,030	)		(3,223,328	)	$	(206,242,330	)


Total Return Bond HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		8,946,264		$	100,688,213			10,155,250		$	116,189,984
Shares Issued for Reinvested Dividends		5,995,954			67,994,124			13,123,731			144,492,281
Shares Redeemed		(36,538,628	)		(410,475,319	)		(46,945,401	)		(535,205,814	)

Net Increase (Decrease)		(21,596,410	)		(241,792,982	)		(23,666,420	)		(274,523,549	)

Class IB
Shares Sold		711,513		$	7,976,767			691,074		$	7,919,270
Shares Issued for Reinvested Dividends		663,479			7,484,042			1,529,910			16,767,814
Shares Redeemed		(4,748,050	)		(53,039,383	)		(6,225,863	)		(70,699,894	)

Net Increase (Decrease)		(3,373,058	)		(37,578,574	)		(4,004,879	)		(46,012,810	)

Total Net Increase (Decrease)		(24,969,468	)	$	(279,371,556	)		(27,671,299	)	$	(320,536,359	)


		253

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016



Ultrashort Bond HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		3,997,140		$	40,076,556			4,401,670		$	44,094,704
Shares Issued for Reinvested Dividends		254,655			2,551,645			214,454			2,144,538
Shares Redeemed		(12,302,990	)		(123,344,159	)		(17,928,559	)		(179,615,432	)

Net Increase (Decrease)		(8,051,195	)		(80,715,958	)		(13,312,435	)		(133,376,190	)

Class IB
Shares Sold		1,092,356		$	10,920,951			1,221,274		$	12,196,809
Shares Issued for Reinvested Dividends		12,039			120,504			1,036			10,342
Shares Redeemed		(2,982,859	)		(29,834,147	)		(3,633,565	)		(36,286,423	)

Net Increase (Decrease)		(1,878,464	)		(18,792,692	)		(2,411,255	)		(24,079,272	)

Total Net Increase (Decrease)		(9,929,659	)	$	(99,508,650	)		(15,723,690	)	$	(157,455,462	)


U.S. Government Securities HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		4,083,858		$	42,855,959			3,407,701		$	35,624,811
Shares Issued for Reinvested Dividends		722,114			7,582,207			761,539			7,889,540
Shares Redeemed		(8,875,818	)		(93,215,231	)		(9,528,094	)		(99,648,491	)

Net Increase (Decrease)		(4,069,846	)		(42,777,065	)		(5,358,854	)		(56,134,140	)

Class IB
Shares Sold		855,371		$	8,957,932			624,520		$	6,508,978
Shares Issued for Reinvested Dividends		137,967			1,447,270			138,582			1,434,327
Shares Redeemed		(1,996,389	)		(20,941,029	)		(1,914,362	)		(19,961,551	)

Net Increase (Decrease)		(1,003,051	)		(10,535,827	)		(1,151,260	)		(12,018,246	)

Total Net Increase (Decrease)		(5,072,897	)	$	(53,312,892	)		(6,510,114	)	$	(68,152,386	)


Value HLS Fund
	For the Year Ended December 31, 2016						For the Year Ended December 31, 2015
	Shares			Amount			Shares			Amount
Class IA
Shares Sold		776,955		$	11,933,096			2,523,744		$	40,916,505
Shares Issued for Reinvested Dividends		4,222,098			62,687,087			1,406,416			22,579,315
Shares Redeemed		(5,017,607	)		(77,099,704	)		(5,677,276	)		(94,566,512	)

Net Increase (Decrease)		(18,554	)		(2,479,521	)		(1,747,116	)		(31,070,692	)

Class IB
Shares Sold		189,127		$	2,861,768			90,344		$	1,476,259
Shares Issued for Reinvested Dividends		724,814			10,726,703			244,646			3,929,896
Shares Redeemed		(955,721	)		(14,771,674	)		(1,023,557	)		(17,008,309	)

Net Increase (Decrease)		(41,780	)		(1,183,203	)		(688,567	)		(11,602,154	)

Total Net Increase (Decrease)		(60,334	)	$	(3,662,724	)		(2,435,683	)	$	(42,672,846	)


		254

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

11.

Line of Credit:

Each Fund participates in a committed line of credit pursuant to a credit agreement. Each Fund may borrow under the line of credit for temporary or emergency purposes. The Funds (together with certain other Hartford Funds) may borrow up to $330 million in the aggregate, subject to asset coverage and other limitations specified in the credit agreement. The interest rate on borrowings varies depending on the nature of the loan. The facility also charges a commitment fee, which is allocated to each of the funds participating in the line of credit based on average net assets of the funds. During the year ended December 31, 2016, none of the Funds had borrowings under this facility.

12.

Pending Legal Proceedings:

On February 25, 2011, Jennifer L. Kasilag, Louis Mellinger, Judith M. Menendez, Jacqueline M. Robinson, and Linda A. Russell filed a derivative lawsuit against Hartford Investment Financial Services, LLC (“HIFSCO”) (now known as Hartford Funds Distributors, LLC) on behalf of six Hartford retail mutual funds in the United States District Court for the District of New Jersey, alleging that HIFSCO received excessive advisory and distribution fees in violation of its statutory fiduciary duty under Section 36(b) of the 1940 Act when serving as investment manager and principal underwriter, respectively, to the Hartford retail mutual funds. Although this action was purportedly filed on behalf of certain of the Hartford Funds, none of the Hartford Funds is itself a defendant to the suit. HIFSCO moved to dismiss and, in September 2011, the motion was granted in part and denied in part, with leave to amend the complaint. In November 2011, plaintiffs filed an amended complaint on behalf of certain Hartford retail mutual funds, The Hartford Global Health Fund (now known as The Hartford Healthcare Fund), The Hartford Conservative Allocation Fund, The Hartford Growth Opportunities Fund, The Hartford Inflation Plus Fund, The Hartford Advisers Fund (now known as The Hartford Balanced Fund), and The Hartford Capital Appreciation Fund. Plaintiffs seek to rescind the investment management agreements and distribution plans between HIFSCO and these funds and to recover the total fees charged thereunder or, in the alternative, to recover any improper compensation HIFSCO received, in addition to lost earnings. HIFSCO filed a partial motion to dismiss the amended complaint and, in December 2012, the court dismissed without prejudice the claims regarding distribution fees and denied the motion with respect to the advisory fees claims. In March 2014, the plaintiffs filed a new complaint that, among other things, added as new plaintiffs The Hartford Floating Rate Fund and The Hartford Small Company Fund and named as a defendant Hartford Funds Management Company, LLC (“HFMC”), which assumed the role as investment manager to the funds as of January 2013. In June 2015, HFMC and HIFSCO moved for summary judgment, and plaintiffs cross-moved for partial summary judgment with respect to The Hartford Capital Appreciation Fund. In March 2016, the court, in large part, denied summary judgment for all parties. The court granted judgment for HFMC and HIFSCO with respect to all claims made by The Hartford Small Company Fund and certain claims made by The Hartford Floating Rate Fund. The court further ruled that the appropriate measure of damages on the surviving claims is the difference, if any, between the actual advisory fees paid through trial and those that could have been paid under the applicable legal standard. A bench trial on the issue of liability was held in November 2016 and a decision is expected in 2017. HFMC and HIFSCO dispute the allegations and intend to defend vigorously.

No accrual for litigation relating to this matter has been recorded in the financial statements of the Funds because the Funds are not party to the suit.

13.

Reverse Stock Split:

On October 21, 2013 for the Ultrashort Bond HLS Fund, a reverse stock split was declared for the Class IA and Class IB shares at a ten to one ratio. The effect of the reverse stock split was to divide the number of outstanding shares by the reverse split factor, with a corresponding increase in the net asset value per share. The split was executed at the closing rounded NAV as of the prior business day. This transaction did not change the net assets of the Fund and the total value of a shareholder’s investment in the Fund did not change as a result of the reverse stock split. Data presented in the Financial Highlights has been adjusted retroactively to account for the reverse stock split.

14.

Indemnifications:

Under each Company’s organizational documents, the Company shall indemnify its officers and directors to the full extent required or permitted under Maryland General Corporation Law and federal securities laws. In addition, each Company, on behalf of its respective Funds, may enter into contracts that contain a variety of indemnifications. Each Company’s maximum exposure under these arrangements is unknown. However, as of the date of these financial statements, each Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.


		255

Hartford HLS Funds

Notes to Financial Statements – (continued)

December 31, 2016

15.

Subsequent Events:

In connection with the preparation of the financial statements of the Funds as of and for the year ended December 31, 2016, events and transactions subsequent to December 31, 2016, through the date the financial statements were issued have been evaluated by the Funds’ management for possible adjustment and/or disclosure.

Effective January 1, 2017, the fund accounting fees paid by each Fund are changing. For more information, please see the Funds Statement of Additional Information.

Effective January 1, 2017, HFMC has agreed to waive 0.03% of the Balanced HLS Fund’s contractual management fee through December 31, 2017.


		256

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 Series Fund, Inc. (comprising, respectively, Hartford Balanced HLS Fund, Hartford Capital Appreciation HLS Fund, Hartford Disciplined Equity HLS Fund, Hartford Dividend and Growth HLS Fund, Hartford Global Growth HLS Fund, Hartford Healthcare HLS Fund, Hartford High Yield HLS Fund, Hartford International Opportunities HLS Fund, Hartford MidCap HLS Fund, Hartford MidCap Value HLS Fund, Hartford Small Company HLS Fund, Hartford Stock HLS Fund, Hartford Total Return Bond HLS Fund, Hartford Ultrashort Bond HLS Fund and Hartford Value HLS Fund) and Hartford HLS Series Fund II, Inc. (comprising, respectively, Hartford Growth Opportunities HLS Fund, Hartford Small/Mid Cap Equity HLS Fund, Hartford Small Cap Growth HLS Fund (formerly Hartford SmallCap Growth HLS Fund) and Hartford U.S. Government Securities HLS Fund) (collectively, the “Companies”) as of December 31, 2016, 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 periods indicated therein. These financial statements and financial highlights are the responsibility of the Companies’ 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 audits 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 Companies’ 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 Companies’ 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, 2016, by correspondence with the custodian and others or by other appropriate auditing procedures where replies from others 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 respective series constituting Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. at December 31, 2016, 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 indicated periods, in conformity with U.S. generally accepted accounting principles.

LOGO

New York, New York

February 17, 2017


		257

Hartford HLS Funds

Shareholder Meeting Results (Unaudited)

A Joint Annual Meeting of Shareholders (“Meeting”) was held on March 14, 2016 and shareholders were asked to consider the proposals listed below. The Meeting was adjourned for certain funds until April 19, 2016 with respect to proposals 2 through 6 listed below.


Proposal No.		Description of Proposal

1.		The election of nominees to the Boards of Directors of Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc. (each, a “Company” and collectively, the “Companies”)

2.		The approval of a new Investment Management Agreement between Hartford Funds Management Company, LLC (“HFMC”) and the Companies, on behalf of the Funds.

3.		The approval of a change to each Fund’s fundamental investment restriction on the purchase or sale of commodities.

4.		The approval of a change to each Fund’s fundamental investment restriction on the purchase or sale of real estate.

5.		The approval of a change to each Fund’s fundamental investment restriction on concentration of investments in a particular industry or group of industries.

6.		The approval, prospectively, of a modification to the current “manager of managers” policy to permit HFMC, subject to prior approval by the relevant Board and under certain circumstances, to enter into and materially amend agreements with affiliated and unaffiliated sub-advisers without the necessity of obtaining shareholder approval.

All shareholders of record at the close of business on December 23, 2015 (“Record Date”) were entitled to attend or submit proxies. As of the Record Date, each Fund had the following number of shares outstanding:


Fund	Outstanding Shares
Hartford Balanced HLS Fund		94,446,436.9570
Hartford Capital Appreciation HLS Fund		143,648,815.3550
Hartford Disciplined Equity HLS Fund		47,773,847.9850
Hartford Dividend and Growth HLS Fund		156,449,235.6120
Hartford Global Growth HLS Fund		19,721,225.9010
Hartford Growth Opportunities HLS Fund		39,766,847.0550
Hartford Healthcare HLS Fund		14,027,669.4520
Hartford High Yield HLS Fund		44,107,497.6430
Hartford International Opportunities HLS Fund		92,990,191.3310
Hartford MidCap HLS Fund		52,171,397.0650
Hartford MidCap Value HLS Fund		31,188,226.0310
Hartford Small Cap Growth HLS Fund		45,262,486.1530
Hartford Small Company HLS Fund		69,913,112.1470
Hartford Small/Mid Cap Equity HLS Fund		12,903,066.9700
Hartford Stock HLS Fund		24,179,712.9250
Hartford Total Return Bond HLS Fund		249,868,620.8300
Hartford U.S. Government Securities HLS Fund		48,616,941.6520
Hartford Ultrashort Bond HLS Fund		70,982,715.8490
Hartford Value HLS Fund		33,471,884.5890


		258

Hartford HLS Funds

Shareholder Meeting Results (Unaudited) – (continued)

Proposal One: The election of nominees to the Boards of Directors of the Companies.


Approval of Board of Directors for Hartford Series Fund, Inc.

Name⁽¹⁾	For		Withheld
Hilary E. Ackermann		926,055,036.2136		37,881,891.4718
Lynn S. Birdsong		928,236,087.7893		35,700,839.8961
James E. Davey		928,312,674.2269		35,624,253.4585
Christine Detrick		927,906,136.7720		36,030,790.9134
Duane E. Hill		926,911,838.7595		37,025,088.9259
Sandra S. Jaffee		925,743,052.2438		38,193,875.4416
William P. Johnston		926,627,699.6718		37,309,228.0136
Phillip O. Peterson		926,430,382.8904		37,506,544.7950
Lemma W. Senbet		927,235,048.4436		36,701,879.2418

⁽¹⁾	Shareholders approved the election of each nominee at the Meeting.


Approval of Board of Directors for Hartford HLS Series Fund II, Inc.

Name⁽¹⁾	For		Withheld
Hilary E. Ackermann		111,973,151.5668		3,455,709.8714
Lynn S. Birdsong		112,222,202.7494		3,206,658.6888
James E. Davey		112,183,175.8470		3,245,685.5912
Christine Detrick		112,197,609.5991		3,231,251.8391
Duane E. Hill		112,096,337.6564		3,332,523.7818
Sandra S. Jaffee		112,229,912.3493		3,198,949.0889
William P. Johnston		112,149,625.0617		3,279,236.3765
Phillip O. Peterson		112,162,997.9970		3,265,863.4412
Lemma W. Senbet		112,226,951.1307		3,201,910.3075

⁽¹⁾	Shareholders approved the election of each nominee at the Meeting.


		259

Hartford HLS Funds

Shareholder Meeting Results (Unaudited) – (continued)

Proposal Two: The approval of a new Investment Management Agreement between HFMC and the Companies, on behalf of the Funds.


Fund	For		Against		Abstain		Broker Non-Votes
Hartford Balanced HLS Fund⁽¹⁾		84,325,889.3904		3,082,698.2808		3,055,126.7288		0.0000
Hartford Capital Appreciation HLS Fund⁽¹⁾		94,466,954.0315		3,149,954.7430		5,726,712.6307		103,951.0000
Hartford Disciplined Equity HLS Fund⁽¹⁾		44,312,363.6449		1,809,730.3575		1,393,097.8926		0.0000
Hartford Dividend and Growth HLS Fund⁽¹⁾		124,988,275.0039		3,763,499.6028		9,172,581.5603		0.0000
Hartford Global Growth HLS Fund⁽¹⁾		15,858,197.1705		832,028.9355		514,690.6920		0.0000
Hartford Growth Opportunities HLS Fund⁽¹⁾		35,088,834.0484		1,639,115.9614		1,086,176.1282		0.0000
Hartford Healthcare HLS Fund⁽¹⁾		7,560,269.1340		132,483.0000		216,007.0000		0.0000
Hartford High Yield HLS Fund⁽¹⁾		39,757,140.5652		1,630,259.5317		1,582,896.0961		0.0000
Hartford International Opportunities HLS Fund⁽¹⁾		67,464,946.3659		2,796,169.5736		2,279,984.8521		119,548.0000
Hartford MidCap HLS Fund⁽²⁾		22,649,116.9774		528,405.6938		3,308,277.5287		0.0000
Hartford MidCap Value HLS Fund⁽¹⁾		29,591,370.5384		706,968.1062		612,518.8074		0.0000
Hartford Small Cap Growth HLS Fund⁽²⁾		23,229,031.7737		396,290.9920		780,643.1054		1,453,102.0000
Hartford Small Company HLS Fund⁽¹⁾		33,226,026.0797		970,890.5258		1,013,186.0215		20,314.0000
Hartford Small/Mid Cap Equity HLS Fund⁽¹⁾		11,667,590.8594		298,449.4983		753,951.9533		0.0000
Hartford Stock HLS Fund⁽¹⁾		20,740,796.0800		788,774.1754		961,794.7386		0.0000
Hartford Total Return Bond HLS Fund⁽¹⁾		218,054,022.2714		7,061,616.6450		10,762,322.9046		0.0000
Hartford U.S. Government Securities HLS Fund⁽¹⁾		44,253,997.1321		1,445,777.8891		1,819,577.3858		0.0000
Hartford Ultrashort Bond HLS Fund⁽¹⁾		58,406,990.3858		2,770,270.3849		3,644,479.3663		0.0000
Hartford Value HLS Fund⁽¹⁾		29,266,957.4890		702,207.5122		615,049.2288		0.0000

⁽¹⁾	Meeting Held on March 14, 2016

⁽²⁾	Meeting Held on April 19, 2016

Proposal Three: The approval of a change to each Fund’s fundamental investment restriction on the purchase or sale of commodities.


Fund	For		Against		Abstain		Broker Non-Votes
Hartford Balanced HLS Fund⁽¹⁾		81,288,968.9488		5,635,762.1557		3,538,983.2955		0.0000
Hartford Capital Appreciation HLS Fund⁽¹⁾		90,357,661.3779		7,017,376.6818		5,968,583.3455		103,951.0000
Hartford Disciplined Equity HLS Fund⁽¹⁾		42,740,567.2203		3,159,268.9653		1,615,355.7094		0.0000
Hartford Dividend and Growth HLS Fund⁽¹⁾		120,935,131.1770		7,055,101.5694		9,934,123.4206		0.0000
Hartford Global Growth HLS Fund⁽¹⁾		15,495,357.3020		1,115,138.5477		594,420.9483		0.0000
Hartford Growth Opportunities HLS Fund⁽¹⁾		33,475,868.2213		3,044,570.2604		1,293,687.6563		0.0000
Hartford Healthcare HLS Fund⁽¹⁾		7,389,062.4079		237,430.7261		282,266.0000		0.0000
Hartford High Yield HLS Fund⁽¹⁾		38,619,974.0367		2,953,248.4360		1,397,073.7203		0.0000
Hartford International Opportunities HLS Fund⁽¹⁾		65,713,476.3829		4,653,207.1841		2,174,417.2246		119,548.0000
Hartford MidCap HLS Fund⁽²⁾		21,735,895.5978		1,310,017.8354		3,439,886.7667		0.0000
Hartford MidCap Value HLS Fund⁽¹⁾		27,441,826.5228		2,812,031.2698		656,999.6594		0.0000
Hartford Small Cap Growth HLS Fund⁽²⁾		22,854,308.9933		737,316.4196		814,340.4582		1,453,102.0000
Hartford Small Company HLS Fund⁽¹⁾		32,400,067.9806		1,692,016.0679		1,118,018.5785		20,314.0000
Hartford Small/Mid Cap Equity HLS Fund⁽¹⁾		11,080,805.5805		932,618.7772		706,567.9533		0.0000
Hartford Stock HLS Fund⁽¹⁾		19,921,462.3284		1,434,071.9932		1,135,830.6724		0.0000
Hartford Total Return Bond HLS Fund⁽¹⁾		214,185,770.1674		10,464,606.7312		11,227,584.9224		0.0000
Hartford U.S. Government Securities HLS Fund⁽¹⁾		43,716,651.6845		1,930,954.9792		1,871,745.7433		0.0000
Hartford Ultrashort Bond HLS Fund⁽¹⁾		53,536,980.4415		6,806,755.7905		4,478,003.9050		0.0000
Hartford Value HLS Fund⁽¹⁾		27,912,646.2080		2,004,484.6138		667,083.4082		0.0000

⁽¹⁾	Meeting Held on March 14, 2016

⁽²⁾	Meeting Held on April 19, 2016


		260

Hartford HLS Funds

Shareholder Meeting Results (Unaudited) – (continued)

Proposal Four: The approval of a change to each Fund’s fundamental investment restriction on the purchase or sale of real estate.


Fund	For		Against		Abstain		Broker Non-Votes
Hartford Balanced HLS Fund⁽¹⁾		81,470,822.4042		5,574,504.6504		3,418,387.3454		0.0000
Hartford Capital Appreciation HLS Fund⁽¹⁾		90,474,484.6178		6,710,536.4107		6,158,600.3767		103,951.0000
Hartford Disciplined Equity HLS Fund⁽¹⁾		42,874,762.6053		3,212,309.5904		1,428,119.6993		0.0000
Hartford Dividend and Growth HLS Fund⁽¹⁾		120,952,568.0386		6,932,760.8916		10,039,027.2368		0.0000
Hartford Global Growth HLS Fund⁽¹⁾		15,520,883.8161		1,098,876.6036		585,156.3783		0.0000
Hartford Growth Opportunities HLS Fund⁽¹⁾		33,749,470.9784		2,868,379.3895		1,196,275.7701		0.0000
Hartford Healthcare HLS Fund⁽¹⁾		7,432,802.6736		196,556.4604		279,400.0000		0.0000
Hartford High Yield HLS Fund⁽¹⁾		39,436,209.7147		2,262,975.8436		1,271,110.6347		0.0000
Hartford International Opportunities HLS Fund⁽¹⁾		65,420,486.7348		4,759,155.8674		2,361,458.1894		119,548.0000
Hartford MidCap HLS Fund⁽²⁾		21,881,634.0440		1,172,332.0028		3,431,834.1531		0.0000
Hartford MidCap Value HLS Fund⁽¹⁾		27,558,354.3914		2,735,474.2153		617,028.8453		0.0000
Hartford Small Cap Growth HLS Fund⁽²⁾		22,797,615.7646		771,914.4318		836,435.6747		1,453,102.0000
Hartford Small Company HLS Fund⁽¹⁾		32,410,684.5013		1,718,420.3543		1,080,997.7714		20,314.0000
Hartford Small/Mid Cap Equity HLS Fund⁽¹⁾		11,091,596.4195		921,828.9382		706,566.9533		0.0000
Hartford Stock HLS Fund⁽¹⁾		19,971,227.0680		1,403,083.2773		1,117,054.6487		0.0000
Hartford Total Return Bond HLS Fund⁽¹⁾		213,171,787.8004		10,258,694.4802		12,447,479.5404		0.0000
Hartford U.S. Government Securities HLS Fund⁽¹⁾		43,589,879.0144		2,063,759.2769		1,865,714.1157		0.0000
Hartford Ultrashort Bond HLS Fund⁽¹⁾		56,258,776.1717		4,480,935.3284		4,082,028.6369		0.0000
Hartford Value HLS Fund⁽¹⁾		27,865,523.8861		2,025,587.4178		693,102.9261		0.0000

⁽¹⁾	Meeting Held on March 14, 2016

⁽²⁾	Meeting Held on April 19, 2016

Proposal Five: The approval of a change to each Fund’s fundamental investment restriction on concentration of investments in a particular industry or group of industries.


Fund	For		Against		Abstain		Broker Non-Votes
Hartford Balanced HLS Fund⁽¹⁾		81,674,660.5982		5,302,528.6361		3,486,525.1657		0.0000
Hartford Capital Appreciation HLS Fund⁽¹⁾		90,510,990.8164		6,729,239.4261		6,103,391.1627		103,951.0000
Hartford Disciplined Equity HLS Fund⁽¹⁾		42,682,748.9657		3,381,859.9812		1,450,582.9481		0.0000
Hartford Dividend and Growth HLS Fund⁽¹⁾		120,970,647.5337		6,807,830.8540		10,145,877.7793		0.0000
Hartford Global Growth HLS Fund⁽¹⁾		15,460,933.5211		1,100,386.1630		643,597.1139		0.0000
Hartford Growth Opportunities HLS Fund⁽¹⁾		34,057,767.4776		2,502,222.8695		1,254,135.7909		0.0000
Hartford Healthcare HLS Fund⁽¹⁾		7,356,059.4079		215,903.7261		336,796.0000		0.0000
Hartford High Yield HLS Fund⁽¹⁾		38,997,464.6663		2,443,739.0068		1,529,092.5199		0.0000
Hartford International Opportunities HLS Fund⁽¹⁾		65,919,691.1593		4,371,867.1265		2,249,542.5058		119,548.0000
Hartford MidCap HLS Fund⁽²⁾		21,990,046.4563		1,060,849.8385		3,434,903.9051		0.0000
Hartford MidCap Value HLS Fund⁽¹⁾		28,431,101.4981		1,785,406.7346		694,349.2193		0.0000
Hartford Small Cap Growth HLS Fund⁽²⁾		22,897,970.5236		656,892.1882		851,103.1593		1,453,102.0000
Hartford Small Company HLS Fund⁽¹⁾		32,497,197.3982		1,598,477.7819		1,114,427.4469		20,314.0000
Hartford Small/Mid Cap Equity HLS Fund⁽¹⁾		11,405,530.9601		474,369.3976		840,091.9533		0.0000
Hartford Stock HLS Fund⁽¹⁾		20,121,181.8641		1,320,102.8157		1,050,080.3142		0.0000
Hartford Total Return Bond HLS Fund⁽¹⁾		213,521,822.1041		11,032,057.3723		11,324,082.3446		0.0000
Hartford U.S. Government Securities HLS Fund⁽¹⁾		43,906,357.5931		1,961,362.7968		1,651,632.0171		0.0000
Hartford Ultrashort Bond HLS Fund⁽¹⁾		55,013,417.4849		5,615,232.3905		4,193,090.2616		0.0000
Hartford Value HLS Fund⁽¹⁾		28,792,332.5490		1,114,401.2784		677,480.4026		0.0000

⁽¹⁾	Meeting Held on March 14, 2016

⁽²⁾	Meeting Held on April 19, 2016


		261

Hartford HLS Funds

Shareholder Meeting Results (Unaudited) – (continued)

Proposal Six: The approval, prospectively, of a modification to the current “manager of managers” policy to permit HFMC, subject to prior approval by the relevant Board and under certain circumstances, to enter into and materially amend agreements with affiliated and unaffiliated sub-advisers without the necessity of obtaining shareholder approval.


Fund	For		Against		Abstain		Broker Non-Votes
Hartford Balanced HLS Fund⁽¹⁾		80,053,492.1791		7,067,883.7455		3,342,338.4754		0.0000
Hartford Capital Appreciation HLS Fund⁽¹⁾		84,780,758.0102		12,218,442.5529		6,344,420.8421		103,951.0000
Hartford Disciplined Equity HLS Fund⁽¹⁾		41,917,306.0963		3,841,237.2822		1,756,648.5165		0.0000
Hartford Dividend and Growth HLS Fund⁽¹⁾		110,612,227.3062		16,778,345.9366		10,533,782.9242		0.0000
Hartford Global Growth HLS Fund⁽¹⁾		15,251,157.4278		1,444,026.8433		509,732.5269		0.0000
Hartford Growth Opportunities HLS Fund⁽¹⁾		33,483,114.9755		3,018,508.6244		1,312,502.5381		0.0000
Hartford Healthcare HLS Fund⁽¹⁾		7,289,820.6736		341,135.4604		277,803.0000		0.0000
Hartford High Yield HLS Fund⁽¹⁾		38,234,809.2887		2,848,622.4277		1,886,864.4766		0.0000
Hartford International Opportunities HLS Fund⁽¹⁾		56,963,607.7782		13,005,523.3902		2,571,969.6232		119,548.0000
Hartford MidCap HLS Fund⁽²⁾		18,188,763.7838		4,866,913.8209		3,430,122.5952		0.0000
Hartford MidCap Value HLS Fund⁽¹⁾		27,442,511.9566		2,643,386.7647		824,958.7307		0.0000
Hartford Small Cap Growth HLS Fund⁽²⁾		22,281,047.0136		1,262,701.9146		862,216.9429		1,453,102.0000
Hartford Small Company HLS Fund⁽¹⁾		19,677,614.9058		14,401,224.8121		1,131,262.9091		20,314.0000
Hartford Small/Mid Cap Equity HLS Fund⁽¹⁾		10,297,136.3208		1,618,761.2347		804,094.7555		0.0000
Hartford Stock HLS Fund⁽¹⁾		19,687,075.2727		1,673,510.6656		1,130,779.0557		0.0000
Hartford Total Return Bond HLS Fund⁽¹⁾		196,881,270.6523		25,686,079.6481		13,310,611.5206		0.0000
Hartford U.S. Government Securities HLS Fund⁽¹⁾		42,227,852.5322		3,541,602.1734		1,749,897.7014		0.0000
Hartford Ultrashort Bond HLS Fund⁽¹⁾		53,531,876.5343		7,193,163.8629		4,096,699.7398		0.0000
Hartford Value HLS Fund⁽¹⁾		27,968,832.9977		1,946,478.4232		668,902.8091		0.0000

⁽¹⁾	Meeting Held on March 14, 2016

⁽²⁾	Meeting Held on April 19, 2016


		262

Hartford HLS Funds

Directors and Officers of the Companies


Name, Year of Birth and Address⁽¹⁾	Position Held with the Companies	Term of Office⁽²⁾ and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex⁽³⁾ Overseen by Director	Other Directorships for Public Companies and Other Registered Investment Companies Held by Director
NON-INTERESTED DIRECTORS
HILARY E. ACKERMANN (1956)	Director	Since 2014	Ms. Ackermann served as Chief Risk Officer at Goldman Sachs Bank USA from October 2008 to November 2011 and has served as a Director of Dynegy, Inc. (an independent power company) from October 2012 to present.	76	Ms. Ackermann serves as a Director of Dynegy, Inc. (a power company) (October 2012 to present).
LYNN S. BIRDSONG (1946)	Director	Since 2003	Mr. Birdsong currently serves as a Director of Aberdeen Global and Aberdeen Global II (investment funds) (September 2014 to present) and Aberdeen Islamic SICAV and Aberdeen Liquidity Fund (investment funds) (2016 to present). Mr. Birdsong served as an Independent Director of Nomura Partners Funds, Inc. (formerly, The Japan Fund) (April 2003 to February 2015) and as a Director of the Sovereign High Yield Investment Company (April 2010 to June 2014). 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. From January 1981 through December 2013, Mr. Birdsong was a partner in Birdsong Company, an advertising specialty firm.	76	None


		263

Hartford HLS Funds

Directors and Officers of the Companies – (continued)


Name, Year of Birth and Address⁽¹⁾	Position Held with the Companies	Term of Office⁽²⁾ and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex⁽³⁾ Overseen by Director	Other Directorships for Public Companies and Other Registered Investment Companies Held by Director
CHRISTINE DETRICK (1958)	Director	Since 2016	Ms. Detrick has served as a Director of Reinsurance Group of America since January 2014 and Forest City Realty Trust (a real estate company) since November 2014. Previously, she was a Director of Forethought Financial Group, Inc. (a financial services company) from January 2012 to January 2014 and a Senior Partner/Advisor at Bain & Company (a management consulting firm) from September 2002 to December 2012.	76	Ms. Detrick serves as a Director of Reinsurance Group of America (January 2014 to present) and Forest City Realty Trust (a real estate company) (November 2014 to present).
DUANE E. HILL (1945)	Director	Since 2001(4) Since 2002(5)	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 served as sponsor and lead investor in leveraged buyouts of middle market companies.	76	None
WILLIAM P. JOHNSTON (1944)	Director and Chairman of the Board	Director since 2005 and Chairman of the Board since 2015	In June 2006, Mr. Johnston was appointed as Senior Advisor to The Carlyle Group, a global private equity and other alternative asset investment firm and currently serves as an Operating Executive. In July 2006, Mr. Johnston was elected to the Board of Directors of MultiPlan, Inc. and served as a Director (July 2006 to August 2010). In August 2007, Mr. Johnston was elected to the Board of Directors of LifeCare Holdings, Inc. and served as a Director (August 2007 to June 2013). In February 2008,	76	None


		264

Hartford HLS Funds

Directors and Officers of the Companies – (continued)


Name, Year of Birth and Address⁽¹⁾	Position Held with the Companies	Term of Office⁽²⁾ and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex⁽³⁾ Overseen by Director	Other Directorships for Public Companies and Other Registered Investment Companies Held by Director
			Mr. Johnston was elected to the Board of Directors of HCR-ManorCare, Inc. 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 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 2002 through 2013, Mr. Johnston served as a Board member of the Georgia O’Keefe Museum. 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 (1944)	Director	Since 2002⁽⁴⁾ Since 2000⁽⁵⁾	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 February 2012 to February 2014, Mr. Peterson served as a Trustee of Symetra Variable Mutual Funds. From January 2004 to April 2005, Mr. Peterson served as Independent President of the Strong Mutual Funds.	76	Mr. Peterson is a Trustee of the William Blair Funds (February 2007 to current) (22 funds overseen).


		265

Hartford HLS Funds

Directors and Officers of the Companies – (continued)

Name, Year of Birth
and Address⁽¹⁾

Position
Held with
the Companies

Term of
Office⁽²⁾ and
Length
of Time
Served

Principal Occupation(s)
During Past 5 Years

Number of
Portfolios
in Fund
Complex⁽³⁾
Overseen by
Director

Other Directorships
for Public Companies
and Other Registered
Investment Companies
Held by Director

LEMMA W. SENBET

(1946)

Director

Since 2005

Dr. Senbet is the William E. Mayer Chair Professor of Finance and Founding Director, Center for Financial Policy, at the University of Maryland, Robert H. Smith School of Business. He was chair of the Finance Department of the University of Maryland, Robert H. Smith School of Business from 1998 to 2006. Since June 2013, he has been on leave from the University to serve as Executive Director of the African Economic Research Consortium which focuses on economic policy research and training. Previously, he was a chaired professor of finance at the University of Wisconsin-Madison. Also, he was a Director of the Fortis Funds from March 2000 to July 2002. Dr. Senbet served 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.

None


		266

Hartford HLS Funds

Directors and Officers of the Companies – (continued)


Name, Year of Birth and Address⁽¹⁾	Position Held with the Companies	Term of Office⁽²⁾ and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex⁽³⁾ Overseen by Director	Other Directorships Held by Director
OFFICERS AND INTERESTED DIRECTORS
JAMES E. DAVEY⁽⁶⁾ (1964)	Director, President and Chief Executive Officer	President and Chief Executive Officer since 2010; Director since 2012	Mr. Davey serves as Executive Vice President of The Hartford Financial Services Group, Inc. Additionally, Mr. Davey serves as Chairman of the Board, Manager and Senior Managing Director of Hartford Funds Distributors, LLC (“HFD”). He also currently serves as Director, Chairman of the Board, President and Senior Managing Director of Hartford Administrative Services Company (“HASCO”). Mr. Davey also serves as President, Manager, Chairman of the Board and Senior Managing Director for Hartford Funds Management Company, LLC (“HFMC”) and Director, Chairman of the Board, President and Senior Managing Director for Hartford Funds Management Group, Inc. (“HFMG”). Mr. Davey also serves as Chairman of the Board, President and Manager of Lattice Strategies LLC effective July 30, 2016. Mr. Davey has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Mr. Davey joined The Hartford in 2002.	76	N/A
ANDREW S. DECKER (1963)	AML Compliance Officer	Since 2015	Mr. Decker currently serves as Chief Compliance Officer and AML Compliance Officer of HASCO and as AML Officer of HFD. Prior to joining The Hartford, Mr. Decker served as Vice President and AML Officer at Janney Montgomery Scott (a broker dealer) from April 2011 to January 2015. Mr. Decker served as AML Compliance and Sanctions Enforcement Officer at SEI Investments from December 2007 to April 2011.	N/A	N/A


		267

Hartford HLS Funds

Directors and Officers of the Companies – (continued)


Name, Year of Birth and Address⁽¹⁾	Position Held with the Companies	Term of Office⁽²⁾ and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex⁽³⁾ Overseen by Director	Other Directorships Held by Director
MICHAEL FLOOK (1965)	Vice President, Treasurer and Controller	Since 2015	Mr. Flook served as Assistant Treasurer for each Company, The Hartford Alternative Strategies Fund, The Hartford Mutual Funds, Inc. and The Hartford Mutual Funds II, Inc. from February 2015 to March 2015. Mr. Flook joined The Hartford in 2014. Prior to joining The Hartford, Mr. Flook served as Director, Vice President and Assistant Treasurer at UBS Global Asset Management from May 2006 to November 2014. Mr. Flook currently serves as an employee of HFMC.	N/A	N/A
WALTER F. GARGER (1965)	Vice President and Chief Legal Officer	Since 2016	Mr. Garger currently serves as Secretary, Managing Director and General Counsel of HFD, HASCO, HFMC and HFMG. Mr. Garger also serves as Secretary and General Counsel of Lattice Strategies LLC effective July 30, 2016. Mr. Garger has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Mr. Garger joined The Hartford in 1995.	N/A	N/A
JOSEPH G. MELCHER (1973)	Vice President and Chief Compliance Officer	Since 2013	Mr. Melcher currently serves as Executive Vice President of HFD, HFMG and HASCO. Mr. Melcher also currently serves as Executive Vice President and Chief Compliance Officer of HFMC. He also serves as Chief Compliance Officer and Executive Vice President of Lattice Strategies LLC effective July 30, 2016. Mr. Melcher has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds since joining The Hartford in 2012. Prior to joining The Hartford, Mr. Melcher worked at Touchstone Investments, a member of the Western & Southern Financial Group, where he held the position of Vice President and Chief Compliance Officer from 2010 through 2012 and Assistant Vice President, Compliance from 2005 to 2010.	N/A	N/A


		268

Hartford HLS Funds

Directors and Officers of the Companies – (continued)


Name, Year of Birth and Address⁽¹⁾	Position Held with the Companies	Term of Office⁽²⁾ and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex⁽³⁾ Overseen by Director	Other Directorships Held by Director
VERNON J. MEYER (1964)	Vice President	Since 2006	Mr. Meyer currently serves as Senior Vice President of Hartford Life Insurance Company (“HLIC”). He also currently serves as Managing Director and Chief Investment Officer of HFMC and Managing Director of HFMG. Mr. Meyer has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Mr. Meyer joined The Hartford in 2004.	N/A	N/A
LAURA S. QUADE (1969)	Vice President	Since 2012	Ms. Quade currently serves as Senior Vice President of HLIC and Vice President of HASCO, HFD and HFMG. She is the Head of Operations of HASCO and formerly served as Director, Enterprise Operations of HLIC. Ms. Quade has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Ms. Quade joined The Hartford in 2001.	N/A	N/A
ALICE A. PELLEGRINO (1960)	Vice President and Secretary	Since 2016	Ms. Pellegrino currently serves as Vice President of HLIC and HFMG. Ms. Pellegrino is a Senior Counsel and has served in various positions within The Hartford and its subsidiaries in connection with the operation of the Hartford Funds. Ms. Pellegrino joined The Hartford in 2007.	N/A	N/A

⁽¹⁾	The address for each officer and Director is c/o Hartford Funds 5 Radnor Corporate Center, 100 Matsonford Road, Suite 300, Radnor, Pennsylvania 19087. On or about April 24, 2017, the address of each officer and Director will be c/o Hartford Funds 690 Lee Road, Wayne, PA 19087.

⁽²⁾	Each Director holds an indefinite term until the earlier of (i) the election and qualification of his or her successor or (ii) when the Director turns 75 years of age. Each officer shall serve until his or her successor is elected and qualifies.

⁽³⁾	The portfolios are series of The Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

⁽⁴⁾	For Hartford Series Fund, Inc.

⁽⁵⁾	For Hartford HLS Series Fund II, Inc.

⁽⁶⁾	“Interested person,” as defined in the 1940 Act, of each Company because of the person’s affiliation with, or equity ownership of, HFMC, HFD or affiliated companies.

For more information regarding the Directors and Officers, please refer to the Statement of Additional Information, as supplemented, which is available, without charge, upon request by calling 1-888-843-7824.


		269

Hartford HLS Funds

General Information (Unaudited)

HOW TO OBTAIN A COPY OF EACH FUND’S PROXY VOTING POLICIES AND VOTING RECORDS (UNAUDITED)

A description of the policies and procedures that each Fund uses to determine how to vote proxies relating to portfolio securities and information about how each Fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the SEC’s website at http://www.sec.gov.

QUARTERLY PORTFOLIO HOLDINGS INFORMATION (UNAUDITED)

Each Fund files a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available (1) without charge, upon request, by calling 888-843-7824 and (2) on the SEC’s website at http://www.sec.gov. The Form N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.


		270

Hartford HLS Funds

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited)

Hartford Series Fund, Inc. and Hartford HLS Series Fund II, Inc.

Hartford Balanced HLS Fund

Hartford Capital Appreciation HLS Fund

Hartford Disciplined Equity HLS Fund

Hartford Dividend and Growth HLS Fund

Hartford Global Growth HLS Fund

Hartford Growth Opportunities HLS Fund

Hartford Healthcare HLS Fund

Hartford High Yield HLS Fund

Hartford International Opportunities HLS Fund

Hartford MidCap HLS Fund

Hartford MidCap Value HLS Fund

Hartford Small Cap Growth HLS Fund

Hartford Small Company HLS Fund

Hartford Small/Mid Cap Equity HLS Fund

Hartford Stock HLS Fund

Hartford Total Return Bond HLS Fund

Hartford Ultrashort Bond HLS Fund

Hartford U.S. Government Securities HLS Fund

Hartford Value HLS Fund

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 (the “Independent Directors”), annually review and consider the continuation of the mutual fund’s investment advisory and sub-advisory agreements. At a Joint Annual Meeting of Shareholders held on March 14, 2016 and adjourned to April 19, 2016 with respect to certain funds, shareholders of each of the funds listed above (each a “Fund” and collectively, the “Funds”) voted to approve a new investment management agreement (the “Management Agreement”) by and between Hartford Series Fund, Inc. (“HLS”) and Hartford HLS Series Fund II, Inc. (“HLS II”), on behalf of each of their respective Funds, and Hartford Funds Management Company, LLC (“HFMC”).

At their meeting held on August 2-3, 2016, the Boards of Directors (collectively, the “Board”) of HLS and HLS II, including each of the Independent Directors, unanimously voted to approve (i) the continuation of the Management Agreement; and (ii) the continuation of the investment sub-advisory agreement between HFMC and each Fund’s sub-adviser, Wellington Management Company LLP (the “Sub-adviser,” and together with HFMC, the “Advisers”) (collectively, the “Agreements”).

In the months preceding the August 2-3, 2016 meeting, the Board requested and reviewed written responses from the Advisers to questions posed to the Advisers on behalf of the Independent Directors and supporting materials relating to those questions and responses. In addition, the Board considered such additional information as it deemed reasonably necessary to evaluate the Agreements with respect to each Fund, which included information furnished to the Board at its meetings throughout the year, as well as information specifically prepared in connection with the annual approval of the Agreements at the Board’s meetings held on June 21-22, 2016 and August 2-3, 2016. Information provided to the Board at its meetings throughout the year included, among other things, reports on Fund performance, legal and compliance matters, sales and marketing activity, shareholder services, and the other services provided to each Fund by the Advisers and their affiliates. The Board also considered the materials and in-person presentations by Fund officers and representatives of HFMC received at the Board’s meetings on June 21-22, 2016 and August 2-3, 2016 concerning the Agreements.

The Independent Directors, advised by independent legal counsel, engaged service providers to assist them with evaluating the Agreements with respect to each Fund. Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data, was retained to provide the Board with reports on how each Fund’s contractual management fees, actual management fees, other non-management fees, overall expense ratios and investment performance compared to those of comparable mutual funds with similar investment objectives. The Independent Directors also engaged an independent financial services consultant (the “Consultant”) to assist them in evaluating the Funds’ respective management fees, sub-advisory fees, other non-management fees, overall expense ratios and investment performance. In addition, the Consultant reviewed the profitability calculations utilized by HFMC in connection with the continuation of the Management Agreement.


		271

Hartford HLS Funds

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) – (continued)

In determining whether to continue the Agreements for a Fund, the members of the Board reviewed and evaluated information and factors they believed to be relevant and appropriate in light of the information that the Board deemed necessary and appropriate through the exercise of its reasonable business judgment. While individual members of the Board may have weighed certain factors differently, the Board’s determination to continue the Agreements was based on a comprehensive consideration of all information provided to the Board throughout the year and specifically with respect to the continuation of the Agreements. The Board was also furnished with an analysis of its fiduciary obligations in connection with its evaluation of the Agreements and, throughout the evaluation process, the Board was assisted by counsel for the Funds. The Independent Directors were also separately assisted by independent legal counsel. A more detailed summary of the important, but not necessarily all, factors the Board considered with respect to its approval of the Agreements is provided below.

Nature, Extent and Quality of Services Provided by the Advisers

The Board requested and considered information concerning the nature, extent and quality of the services provided to each Fund by the Advisers. The Board considered, among other things, the terms of the Agreements and the range of services provided by the Advisers. The Board considered the Advisers’ professional personnel who provide services to the Funds, including each Adviser’s ability and experience in attracting and retaining qualified personnel to service the Funds. The Board considered each Adviser’s reputation and overall financial strength, as well as its willingness to consider and implement organizational and operational changes designed to enhance services to the Hartford Funds. In addition, the Board considered the quality of each Adviser’s communications with the Board and responsiveness to Board inquiries and requests made from time to time with respect to the Funds and other Hartford Funds.

The Board also requested and evaluated information concerning each Adviser’s regulatory and compliance environment. In this regard, the Board requested and reviewed information about each Adviser’s compliance policies and procedures, compliance history, and a report from the Funds’ Chief Compliance Officer about each Adviser’s compliance with applicable laws and regulations, including responses to regulatory developments and compliance issues raised by regulators. The Board also noted the Advisers’ support of the Funds’ compliance control structure, as applicable, and, in particular, the resources devoted by the Advisers in support of the Funds’ obligations pursuant to Rule 38a-1 under the 1940 Act, as well as the efforts of HFMC and its affiliates to combat cybersecurity risks and invest in business continuity planning.

With respect to HFMC, the Board noted that, under the Management Agreement, HFMC is responsible for the management of the Funds, including oversight of fund operations and service providers, and the provision of administrative and investment advisory services in connection with selecting, monitoring and supervising the Sub-adviser. The Board considered HFMC’s ongoing monitoring of people, process and performance, including its quarterly reviews of each of the Hartford Funds, semi-annual meetings with the leaders of each Fund’s portfolio management team, and oversight of the Funds’ approximately 35 portfolio managers. The Board recognized that HFMC has demonstrated a record of making changes to the management and/or strategies of the Hartford Funds when warranted. The Board considered HFMC’s periodic due diligence reviews of the Sub-adviser and ongoing oversight of the Sub-adviser’s investment approach and results, process for monitoring best execution of portfolio trades and other trading operations by the Sub-adviser, and approach to risk management with respect to the Funds and the service providers to the Funds. The Board also considered HFMC’s day-to-day oversight of compliance with each Fund’s objective and policies as well as with applicable laws and regulations, noting that regulatory and other developments had over time led to an increase in the scope of HFMC’s services in this regard. Moreover, the Board considered HFMC’s oversight of potential conflicts of interest between the Funds’ investments and those of other funds or accounts managed by the Funds’ portfolio management personnel.

In addition, the Board considered HFMC’s ongoing commitment to review and rationalize the Hartford Funds product line-up. The Board considered that HFMC is responsible for providing the Funds’ officers. The Board also noted that Hartford Life Insurance Company (“HLIC”), an affiliate of HFMC, provides administrative services to the Funds. The Board considered its experiences with HFMC and HLIC with respect to each of these services.

With respect to the Sub-adviser, which provides certain day-to-day portfolio management services for the Funds, subject to oversight by HFMC, the Board considered, among other things, the quality of each Fund’s portfolio manager(s), the Sub-adviser’s other investment personnel, its investment philosophy and process, its investment research capabilities and resources, its performance record, its trade execution capabilities and its experience. The Board considered the experience of each Fund’s portfolio manager(s), the number of accounts managed by the portfolio manager(s), and the Sub-adviser’s method for compensating the portfolio manager(s).

Based on these considerations, the Board concluded that it was satisfied with the nature, extent and quality of the services provided to each Fund by HFMC and the Sub-adviser.


		272

Hartford HLS Funds

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) – (continued)

Performance of each Fund and the Advisers

The Board considered the investment performance of each Fund. In this regard, the Board reviewed the performance of each Fund over different time periods presented in the materials and evaluated HFMC’s analysis of the Fund’s performance for these time periods. The Board considered information and materials provided to the Board by the Advisers concerning Fund performance, as well as information from Broadridge comparing the investment performance of each Fund to an appropriate universe of peer funds. For details regarding each Fund’s performance, see the Fund-by-Fund synopsis below.

The Board considered the detailed investment analytics reports provided by Hartford Funds’ Investment Advisory Group throughout the year, including in connection with the annual approval of the Agreements. These reports include, among other things, information on each Fund’s gross returns and, with respect to certain reports, net returns, the Fund’s investment performance relative to an appropriate benchmark and peer group, various statistics concerning the Fund’s portfolio, and a narrative summary of various factors affecting Fund performance. The Board considered the Advisers’ cooperation with the Investment Committee, which assists the Board in evaluating the performance of each Fund at periodic meetings throughout the year. The Board also considered the analysis provided by the Consultant relating to each Fund’s performance track record.

In light of all the considerations noted above, the Board concluded that it had continued confidence in HFMC’s and the Sub-adviser’s overall capabilities to manage the Funds.

Costs of the Services and Profitability of the Advisers

The Board reviewed information regarding HFMC’s cost to provide investment management and related services to each Fund and HFMC’s 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 HFMC and its affiliates from all services provided to each Fund and all aspects of their relationship with the Fund, including information regarding profitability trends over time. The Board also requested and received information relating to the operations and profitability of the Sub-adviser.

The Board considered the Consultant’s review of the profitability calculations used by HFMC in connection with the continuation of the Management Agreement, noting the Consultant’s view that Hartford Funds’ process for calculating and reporting Fund profitability is reasonable and consistent with the process previously reviewed by the Consultant. In this regard, the Board noted that the Consultant had previously performed a full review of this process and reported that such process is sound and well within common industry practice.

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 Services Provided by the Advisers

The Board considered the comparative information that had been provided at meetings on June 21-22, 2016 and August 2-3, 2016 with respect to the services rendered to and the management fees to be paid by each Fund to HFMC and the total expense ratios of the Fund. The Board also considered comparative information with respect to the sub-advisory fees to be paid by HFMC to the Sub-adviser with respect to each Fund, taking into account that HFMC compensates the Sub-adviser out of the management fee paid by the Fund to HFMC. In this regard, the Board requested and reviewed information from HFMC and the Sub-adviser relating to the management and sub-advisory fees, including the sub-advisory fee schedule for each Fund, and total operating expenses for each Fund. The Board considered that the management fee for each Fund covers the fee paid by HFMC to HLIC for providing certain administrative services to the Fund. With respect to each Fund’s sub-advisory fee schedule, the Board considered representations from HFMC and the Sub-adviser that the Sub-adviser’s fees were negotiated at arm’s length on a Fund-by-Fund basis. The Board also reviewed information from Broadridge comparing each Fund’s contractual management fees, actual management fees and overall expense ratios relative to a group of funds selected by Broadridge, in consultation with the Consultant, and a broader universe of funds selected by Broadridge. For details regarding each Fund’s expenses, see the Fund-by-Fund synopsis below.

While the Board recognized that comparisons between a Fund and its peer funds may be imprecise, given the different service levels and characteristics of mutual funds and the different business models and cost structures of the Advisers, the comparative information provided by Broadridge assisted the Board in evaluating the reasonableness of each Fund’s management and sub-advisory fees and total operating expenses. In addition, the Board considered the analysis and recommendations of the Consultant relating to each Fund’s management and sub-advisory fees and total operating expenses.


		273

Hartford HLS Funds

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) – (continued)

Based on these considerations, the Board concluded that each Fund’s fees and total operating expenses, in conjunction with the information about quality of services, profitability, economies of scale, and other matters discussed, were reasonable in light of the services provided.

Economies of Scale

The Board considered information regarding the extent to which economies of scale may be realized as a Fund grows and whether fee levels reflect these economies of scale for the benefit of shareholders of the Fund. The Board reviewed the breakpoints in the management fee schedule for each Fund, if any, which reduce fee rates as the Fund’s assets grow over time. The Board recognized that a fund with assets beyond the highest breakpoint level will 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 also recognized that a fee schedule that reaches a lower breakpoint quickly provides shareholders with the benefit of anticipated or potential economies of scale. In addition, the Board considered that initially setting competitive fee rates and pricing the Funds to scale at inception are other means of sharing potential economies of scale with shareholders. The Board also considered that HFMC has been active in managing expenses, which has resulted in benefits being realized by shareholders as assets within the Hartford Funds family of funds have grown over time, including through lower operating expenses. The Board noted the effect of the run-off of the variable annuity business on the HLS Funds and also noted that, for Hartford Small/Mid Cap Equity HLS Fund, the Fund’s current low asset levels have kept the Fund from fully realizing the benefits of anticipated or potential economies of scale.

The Board reviewed and evaluated materials from Broadridge and the Consultant showing how management fee schedules of peer funds reflect economies of scale for the benefit of shareholders as a peer fund’s assets hypothetically increase over time. Based on information provided by HFMC, Broadridge, 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 shareholders based on currently available information and the effective advisory fees and expense ratios for the Fund at its current and reasonably anticipated asset levels. The Board noted, however, that it would continue to monitor future growth in each Fund’s 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 each Fund in supporting the variable life insurance and variable annuity products offered by The Hartford.

The Board noted that HLIC, an affiliate of HFMC, receives fees for providing certain administrative services to the Funds and that HFMC receives fees for fund accounting and related services from the Funds. The Board considered information on profits to HLIC and HFMC for such services. The Board considered that it had approved an increase in the Funds’ fund accounting fee rate. The Board reviewed information from Broadridge comparing the new accounting fee rate with relevant industry data and considered that the new fund accounting fee schedule more properly aligned with HFMC’s actual costs for those services. The Board considered that, while the new fee schedule is projected to result in a reasonable increase in overall profitability to HFMC, HFMC expected that it would continue to operate at a net loss with respect to fund accounting services. The Board also considered that Hartford Administrative Services Company (“HASCO”), the Funds’ transfer agent and an affiliate of HFMC, receives transfer agency compensation from the Funds, and the Board reviewed information about the profitability to HASCO of the Funds’ transfer agency function. The Board considered information regarding the transfer agency services provided by HASCO to the Funds and the transfer agency fees received therefor. The Board also noted that HFMC and HASCO had delegated certain fund accounting services and transfer agency services, respectively, to external service providers.

The Board also considered that Hartford Funds Distributors, LLC (“HFD”), an affiliate of HFMC, serves as principal underwriter of the Funds. As principal underwriter, HFD receives distribution and service fees from the Funds. The Board also noted that certain affiliates of HFD receive compensation from HFD, including affiliated insurance companies that offer the Funds as investment options under their contracts.

The Board considered the benefits, if any, to the Sub-adviser from any use of a Fund’s brokerage commissions to obtain soft dollar research, and representations from HFMC and the Sub-adviser that the Sub-adviser does not make any revenue-sharing payments or any other type of distribution payments to HFMC or its affiliates.

The Board considered the benefits to shareholders of being part of the Hartford Funds family of funds. The Board considered HFMC’s efforts to provide investors in the fund family with a broad range of investment styles and asset classes.


		274

Hartford HLS Funds

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) – (continued)

Fund-by-Fund factors

Hartford Balanced HLS Fund

•

The Board noted that the Fund’s performance was in the 1^st quintile of its performance universe for the 1-, 3- and 5-year periods. The Board also noted that the Fund’s performance was below its blended custom benchmark for the 1-year period, above its blended custom benchmark for the 3-year period and in line with its blended custom benchmark for the 5-year period.

•

The Board noted that the Fund’s contractual management fee was in the 4^th quintile of its expense group, while its actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 3^rd quintile. The Board also noted that the Fund has a temporary management fee waiver through December 31, 2016.

Hartford Capital Appreciation HLS Fund

•

The Board noted that the Fund’s performance was in the 4^th quintile of its performance universe for the 1-year period and the 3^rd quintile for the 3- and 5-year periods. The Board also noted that the Fund’s performance was below its benchmark for the 1-, 3- and 5-year periods. The Board considered that, in response to questions concerning the Fund’s performance, HFMC stated it has confidence in the Fund’s portfolio management team and investment strategy. The Board noted recent changes to the Fund’s portfolio management team.

•

The Board noted that the Fund’s contractual management fee, actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 3^rd quintile of its expense group.

Hartford Disciplined Equity HLS Fund

•

The Board noted that the Fund’s contractual management fee, actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 3^rd quintile of its expense group.

Hartford Dividend and Growth HLS Fund

•

The Board noted that the Fund’s performance was in the 2^nd quintile of its performance universe for the 1- and 5-year periods and the 1^st quintile for the 3-year period. The Board also noted that the Fund’s performance was below its benchmark for the 1-, 3- and 5-year periods.

•

The Board noted that the Fund’s contractual management fee and actual management fee were in the 3^rd quintile of its expense group, while its total expenses (less 12b-1 and shareholder service fees) were in the 2^nd quintile.

Hartford Global Growth HLS Fund

•

The Board noted that the Fund’s contractual management fee was in the 5^th quintile of its expense group, while its actual management fee was in the 4^th quintile and its total expenses (less 12b-1 and shareholder service fees) were in the 2^nd quintile.

Hartford Growth Opportunities HLS Fund

•

The Board noted that the Fund’s performance was in the 1^st quintile of its performance universe for the 1-, 3- and 5-year periods. The Board also noted that the Fund’s performance was below its benchmark for the 1-year period and above its benchmark for the 3- and 5-year periods.

•

The Board noted that the Fund’s contractual management fee, actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 1^st quintile of its expense group.


		275

Hartford HLS Funds

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) – (continued)

Hartford Healthcare HLS Fund

•

The Board noted that the Fund’s performance was in the 2^nd quintile of its performance universe for the 1-, 3- and 5-year periods. The Board also noted that the Fund’s performance was below its benchmark for the 1-year period and above its benchmark for the 3- and 5-year periods.

•

Hartford High Yield HLS Fund

•

The Board noted that the Fund’s contractual management fee was in the 3^rd quintile of its expense group, while its actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 4^th quintile.

Hartford International Opportunities HLS Fund

•

The Board noted that the Fund’s performance was in the 2^nd quintile of its performance universe for the 1-year period and the 1^st quintile for the 3- and 5-year periods. The Board also noted that the Fund’s performance was above its benchmark for the 1-, 3- and 5-year periods.

•

The Board noted that the Fund’s contractual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 1^st quintile of its expense group, while its actual management fee was in the 2^nd quintile.

Hartford MidCap HLS Fund

•

The Board noted that the Fund’s contractual management fee was in the 2^nd quintile of its expense group, while its actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 1^st quintile.

Hartford MidCap Value HLS Fund

•

The Board noted that the Fund’s performance was in the 4^th quintile of its performance universe for the 1-year period, the 3^rd quintile for the 3-year period and the 2^nd quintile for the 5-year period. The Board also noted that the Fund’s performance was below its benchmark for the 1-year period and above its benchmark for the 3- and 5-year periods.

•

The Board noted that the Fund’s contractual management fee, actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 3^rd quintile of its expense group.

Hartford Small Cap Growth HLS Fund

•

The Board noted that the Fund’s performance was in the 3^rd quintile of its performance universe for the 1-year period, the 2^nd quintile for the 3-year period and the 1^st quintile for the 5-year period. The Board also noted that the Fund’s performance was above its benchmark for the 1-, 3- and 5-year periods.

•

The Board noted that the Fund’s contractual management fee, actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 1^st quintile of its expense group.


		276

Hartford HLS Funds

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) – (continued)

Hartford Small Company HLS Fund

•

The Board noted that the Fund’s performance was in the 5^th quintile of its performance universe for the 1-year period and the 4^th quintile for the 3- and 5-year periods. The Board also noted that the Fund’s performance was below its benchmark for the 1-, 3- and 5-year periods. The Board considered that, in response to questions concerning the Fund’s performance, HFMC stated it has confidence in the Fund’s portfolio management team and investment strategy.

•

Hartford Small/Mid Cap Equity HLS Fund

•

The Board noted that the Fund’s performance was in the 3^rd quintile of its performance universe for the 1-, 3- and 5-year periods. The Board also noted that the Fund’s performance was below its benchmark for the 1-year period and in line with its benchmark for the 3- and 5-year periods.

•

The Board noted that the Fund’s contractual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 2^nd quintile of its expense group, while its actual management fee was in the 3^rd quintile.

Hartford Stock HLS Fund

•

The Board noted that the Fund’s performance was in the 1^st quintile of its performance universe for the 1-year period and the 2^nd quintile for the 3- and 5-year periods. The Board also noted that the Fund’s performance was above its benchmark for the 1- and 3-year periods and in line with its benchmark for the 5-year period.

•

The Board noted that the Fund’s contractual management fee, actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 1^st quintile of its expense group.

Hartford Total Return Bond HLS Fund

•

The Board noted that the Fund’s performance was in the 5^th quintile of its performance universe for the 1-year period and the 2^nd quintile for the 3- and 5-year periods. The Board also noted that the Fund’s performance was below its benchmark for the 1-year period, in line with its benchmark for the 3-year period and above its benchmark for the 5-year period.

•

Hartford Ultrashort Bond HLS Fund

•

The Board noted that the Fund’s performance was in the 4^th quintile of its performance universe for the 1-year period. The Board also noted that the Fund’s performance was in line with its benchmark for the 1-year period.

•

The Board noted that the Fund’s contractual management fee, actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 1^st quintile of its expense group.

Hartford U.S. Government Securities HLS Fund

•

The Board noted that the Fund’s performance was in the 2^nd quintile of its performance universe for the 1-year period and the 3^rd quintile for the 3- and 5-year periods. The Board also noted that the Fund’s performance was in line with its benchmark for the 1- and 3-year periods and above its benchmark for the 5-year period.

•

The Board noted that the Fund’s contractual management fee, actual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 1^st quintile of its expense group.


		277

Hartford HLS Funds

Approval of Investment Management and Investment Sub-Advisory Agreements (Unaudited) – (continued)

Hartford Value HLS Fund

•

The Board noted that the Fund’s performance was in the 3^rd quintile of its performance universe for the 1-year period and the 2^nd quintile for the 3- and 5-year periods. The Board also noted that the Fund’s performance was below its benchmark for the 1-year period and in line with its benchmark for the 3- and 5-year periods.

•

The Board noted that the Fund’s contractual management fee and total expenses (less 12b-1 and shareholder service fees) were in the 3^rd quintile of its expense group, while its actual management fee was in the 4^th quintile.

* * * *

Based upon its review of these various factors, among others, the Board concluded that it is in the best interests of each 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 and the Consultant, to review the relevant materials and consider their responsibilities under relevant laws and regulations.


		278

THIS PRIVACY POLICY IS NOT PART OF THIS REPORT

Privacy Policy and Practices of The Hartford Financial Services Group, Inc. and its Affiliates

(herein called “we, our, and us”)

This Privacy Policy applies to our United States Operations

We value your trust. We are committed to the responsible:

a) management;

b) use; and

c) protection;

of Personal Information.

This notice describes how we collect, disclose, and protect Personal Information.

We collect Personal Information to:

a) service your Transactions with us; and

b) support our business functions.

We may obtain Personal Information from:

a) You;

b) your Transactions with us; and

c) third parties such as a consumer-reporting agency.

Based on the type of product or service You apply for or get from us, Personal Information such as:

a) your name;

b) your address;

c) your income;

d) your payment; or

e) your credit history;

may be gathered from sources such as applications, Transactions, and consumer reports.

To serve You and service our business, we may share certain Personal Information. We will share Personal Information, only as allowed by law, with affiliates such as:

a) our insurance companies;

b) our employee agents;

c) our brokerage firms; and

d) our administrators.

As allowed by law, we may share Personal Financial Information with our affiliates to:

a) market our products; or

b) market our services;

to You without providing You with an option to prevent these disclosures.

We may also share Personal Information, only as allowed by law, with unaffiliated third parties including:

a) independent agents;

b) brokerage firms;

c) insurance companies;

d) administrators; and

e) service providers;

who help us serve You and service our business.

When allowed by law, we may share certain Personal Financial Information with other unaffiliated third parties who assist us by performing services or functions such as:

a) taking surveys;

b) marketing our products or services; or

c) offering financial products or services under a joint

agreement between us and one or more financial institutions.

We, and third parties we partner with, may track some of the pages You visit through the use of:

a) cookies;

b) pixel tagging; or

c) other technologies;

and currently do not process or comply with any web browser’s “do not track” signal or other similar mechanism that indicates a request to disable online tracking of individual users who visit our websites or use our services.

For more information, please see our Online Privacy Policy, which governs information we collect on our website and our affiliate websites, which is available at Online Privacy Policy.

We will not sell or share your Personal Financial Information with anyone for purposes unrelated to our business functions without offering You the opportunity to:

a) “opt-out;” or

b) “opt-in;”

as required by law.

We only disclose Personal Health Information with:

a) your proper written authorization; or

b) as otherwise allowed or required by law.

Our employees have access to Personal Information in the course of doing their jobs, such as:

a) underwriting policies;

b) paying claims;

c) developing new products; or

d) advising customers of our products and services.

We use manual and electronic security procedures to maintain:

a) the confidentiality; and

b) the integrity of;

Personal Information that we have. We use these procedures to guard against unauthorized access.

Some techniques we use to protect Personal Information include:

a) secured files;

b) user authentication;

c) encryption;

d) firewall technology; and

e) the use of detection software.

We are responsible for and must:

a) identify information to be protected;

b) provide an adequate level of protection for that data;

c) grant access to protected data only to those people

who must use it in the performance of their job-related duties.

Employees who violate our Privacy Policy will be subject to discipline, which may include ending their employment with us.

At the start of our business relationship, we will give You a copy of our current Privacy Policy.

We will also give You a copy of our current Privacy Policy once a year if you maintain a continuing business relationship with us.

We will continue to follow our Privacy Policy regarding Personal Information even when a business relationship no longer exists between us.

As used in this Privacy Notice:

Application means your request for our product or service.

Personal Financial Information means financial information such as:

a) credit history;

b) income;

c) financial benefits; or

d) policy or claim information.

Personal Financial Information may include Social Security Numbers, Driver’s license numbers, or other government-issued identification numbers, or credit, debit card, or bank account numbers.

Personal Health Information means health information such as:

a) your medical records; or

b) information about your illness, disability or injury.

Personal Information means information that identifies You personally and is not otherwise available to the public. It includes:

a) Personal Financial Information; and

b) Personal Health Information.

Transaction means your business dealings with us, such as:

a) your Application;

b) your request for us to pay a claim; and

c) your request for us to take an action on your account.

You means an individual who has given us Personal Information in conjunction with:

a) asking about;

b) applying for; or

c) obtaining;

a financial product or service from us if the product or service is used mainly for personal, family, or household purposes.

This Privacy Policy is being provided on behalf of the following affiliates of The Hartford Financial Services Group, Inc.:

1stAGChoice, Inc.; Access CoverageCorp, Inc.; Access CoverageCorp Technologies, Inc.; American Maturity Life Insurance Company; Archway 60 R, LLC; Business Management Group, Inc.; DMS R, LLC; First State Insurance Company; Fountain Investors I LLC; Fountain Investors II LLC; Fountain Investors III LLC; Fountain Investors IV LLC; FP R, LLC (Delaware); FTC Resolution Company LLC; Hart Re Group L.L.C.; Hartford Accident and Indemnity Company; Hartford Administrative Services Company; Hartford Casualty General Agency, Inc.; Hartford Casualty Insurance Company; Hartford Financial Services, LLC; Hartford Fire General Agency, Inc.; Hartford Fire Insurance Company; Hartford Funds Distributors, LLC; Hartford Funds Management Company, LLC; Hartford Funds Management Group, Inc.; Hartford Holdings, Inc.; Hartford HLS Series Fund II, Inc.; Hartford Insurance Company of Illinois; Hartford Insurance Company of the Midwest; Hartford Insurance Company of the Southeast; Hartford Integrated Technologies, Inc.; Hartford International Life Reassurance Corporation; Hartford Investment Management Company; Hartford Life and Accident Insurance Company; Hartford Life and Annuity Insurance Company; Hartford Life Insurance Company; Hartford Life, Inc.; Hartford Life International Holding Company; Hartford Life Private Placement, LLC; Hartford Lloyd’s Corporation; Hartford Lloyd’s Insurance Company; Hartford of Texas General Agency, Inc.; Hartford Residual Market, L.C.C.; Hartford Securities Distribution Company, Inc.; Hartford Series Fund, Inc.; Hartford Specialty Insurance Services of Texas, LLC; Hartford Strategic Investments, LLC; Hartford Underwriters General Agency, Inc.; Hartford Underwriters Insurance Company; Hartford-Comprehensive Employee Benefit Service Company; HDC R, LLC .; Heritage Holdings, Inc.; HIMCO Distribution Services Company; HIMCO Variable Insurance Trust; HLA LLC; HL Investment Advisors, LLC; Horizon Management Group, LLC; HRA Brokerage Services, Inc.; Lanidex Class B, LLC; ; Lanidex R, LLC (Delaware); MPC Resolution Company LLC; New England Insurance Company; New England Reinsurance Corporation; Nutmeg Insurance Agency, Inc.; Nutmeg Insurance Company; Pacific Insurance Company, Limited; Property and Casualty Insurance Company of Hartford; Revere R, LLC; RVR R, LLC; Sentinel Insurance Company, Ltd.; Sunstone R, LLC; Symphony R, LLC; The Evergreen Group Incorporated; The Hartford Alternative Strategies Fund; The Hartford Mutual Funds, Inc.; The Hartford Mutual Funds II, Inc.; Trumbull Flood Management, L.L.C.; Trumbull Insurance Company; Twin City Fire Insurance Company.

Revised March 2016

LOGO

Item 2. Code of Ethics.

(a)

The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. A copy of the code of ethics is filed herewith.

(c)

The registrant amended the code of ethics on May 3, 2016. The key changes to the code of ethics are as follows: (1) simplify the code provisions, (2) simplify the waiver process, and (3) require that the specified officers in the code of ethics complete an initial and annual certification.

(d)

The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions.

Item 3. Audit Committee Financial Expert.

The Board of Directors of the Registrant (the “Board”) 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: The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were:

$367,360 for the fiscal year ended December 31, 2015; $382,000 for the fiscal year ended December 31, 2016.

(b)

Audit Related Fees: The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were:

$25,634 for the fiscal year ended December 31, 2015; $7,895 for the fiscal year ended December 31, 2016. Audit-related services are principally in connection with Rule 17Ad-13 under the Securities Exchange Act of 1934.

(c)

Tax Fees: The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were:

$88,114 for the fiscal year ended December 31, 2015; $85,204 for the fiscal year ended December 31, 2016. Tax-related services are principally in connection with, but not limited to, general tax services and Passive Foreign Investment Company (PFIC) analysis.

(d)

All Other Fees: The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were:

$0 for the fiscal year ended December 31, 2015; $0 for the fiscal year ended December 31, 2016.

(e)

(1) The Pre-Approval Policies and Procedures (the “Policy”) adopted by the Audit Committee of the Registrant (also, the “Fund”) sets forth the procedures pursuant to which services performed by the independent registered public accounting firm for the Registrant may be pre-approved. The following are some main provisions from the Policy.

The Audit Committee must pre-approve all audit services and non-audit services that the independent registered public accounting firm provides to the Fund.

The Audit Committee must pre-approve any engagement of the independent registered public accounting firm to provide non-audit services to any Service Affiliate (which is defined to include any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Fund) during the period of the independent registered public accounting firm’s engagement to provide audit services to the Fund, if the non-audit services to the Service Affiliate directly impact the Fund’s operations and financial reporting.

The Audit Committee shall pre-approve certain non-audit services to the Fund and its Service Affiliates pursuant to procedures set forth in the Policy.

The Audit Committee, from time to time, may designate one or more of its members who are Independent Directors (each a “Designated Member”) to consider, on the Audit Committee’s behalf, any non-audit services, whether to the Fund or to any Service Affiliate, that have not been pre-approved by the Audit Committee. The Designated Member also shall review, on the Audit Committee’s behalf, any proposed material change in the nature or extent of any non-audit services previously approved. In considering any requested non-audit services or proposed material change in such services, the Designated Member shall not authorize services which would exceed $50,000 in fees for such services.

The independent registered public accounting firm may not provide specified prohibited non-audit services set forth in the Policy to the Fund, the Fund’s investment adviser, the Service Affiliates or any other member of the investment company complex.

(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, 2016, were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

(g)

The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and 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 adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant were:

$1,862,111 for the fiscal year ended December 31, 2015; $1,294,322 for the fiscal year ended December 31, 2016.

(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.

Not applicable.

Item 6. Investments.

(a)

The Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the annual report filed under Item 1 of this form.

(b)

Not applicable.

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)

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are generally effective to provide reasonable assurance, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s second fiscal quarter of the period covered by this report that have materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits.

(a)(1) Code of Ethics.

(a)(2) Separate certifications for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

(a)(3) Not applicable.

(b) Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


Date: February 27, 2017	By:	/s/ James E. Davey
		James E. Davey, President and
		Chief Executive Officer

Date: February 27, 2017	By:	/s/ Michael Flook
		Michael Flook, Vice President,
		Treasurer and Controller