UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act File Number 811-10509

AXA PREMIER VIP TRUST

(Exact name of registrant as specified in charter)

1290 Avenue of the Americas

New York, New York 10104

(Address of principal executive offices)

PATRICIA LOUIE, ESQ.

Executive Vice President and General Counsel

AXA Equitable Funds Management Group, LLC

1290 Avenue of the Americas

New York, New York 10104

(Name and Address of Agent for Service)

Copies to:

MARK C. AMOROSI, ESQ.

K&L Gates LLP

1601 K. Street, N.W.

Washington, D.C. 20036-1800

Telephone: (202) 778-9351

Registrant’s telephone number, including area code: (212) 554-1234

Date of fiscal year end: December 31

Date of reporting period: January 1, 2013 – March 31, 2013

Item 1. Schedule of Investments.

The following are schedules of investments of the registrant as of March 31, 2013. The schedules have not been audited.

AXA PREMIER VIP TRUST

AXA CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
ATM International Portfolio‡		4,180,008	$	41,332,811
ATM Large Cap Portfolio‡		12,560,303		156,893,518
ATM Mid Cap Portfolio‡		913,526		10,073,733
ATM Small Cap Portfolio‡		474,133		6,106,150
EQ/AllianceBernstein Small Cap Growth Portfolio‡		228,063		4,340,719
EQ/BlackRock Basic Value Equity Portfolio‡		1,937,960		31,593,645
EQ/Boston Advisors Equity Income Portfolio‡		4,253,918		27,677,970
EQ/Core Bond Index Portfolio‡		53,754,275		546,071,991
EQ/GAMCO Small Company Value Portfolio‡		213,871		10,068,525
EQ/Global Bond PLUS Portfolio‡		2,472,676		24,222,629
EQ/Global Multi-Sector Equity Portfolio‡		724,506		9,484,902
EQ/Intermediate Government Bond Portfolio‡		73,245,785		761,804,100
EQ/International Core PLUS Portfolio‡		747,374		6,854,815
EQ/International Equity Index Portfolio‡		196,777		1,659,584
EQ/International ETF Portfolio‡ .		490,143		3,232,807
EQ/International Value PLUS Portfolio‡		343,344		3,880,392
EQ/Large Cap Core PLUS Portfolio‡		1,975,606		15,137,786
EQ/Large Cap Growth Index Portfolio‡		1,325,326		14,551,138
EQ/Large Cap Growth PLUS Portfolio‡		1,657,103		33,601,769
EQ/Large Cap Value PLUS Portfolio‡		487,740		5,944,712
EQ/MFS International Growth Portfolio‡		2,947,061		20,333,518
EQ/PIMCO Ultra Short Bond Portfolio‡		28,987,111		289,417,560
Multimanager Core Bond Portfolio‡		5,411,465		55,558,149
Multimanager International Equity Portfolio‡		190,134		2,023,261
Multimanager Large Cap Core Equity Portfolio‡		1,849,193		21,813,847
Multimanager Large Cap Value Portfolio‡		1,118,436		13,056,219
Multimanager Mid Cap Growth Portfolio*‡		340,179		3,784,163
Multimanager Mid Cap Value Portfolio‡		374,974		4,253,579
Multimanager Multi-Sector Bond Portfolio‡		7,233,446		29,365,570
Multimanager Small Cap Growth Portfolio*‡		261,970		2,503,009
Total Investments (99.8%) (Cost $2,017,678,409)		2,156,642,571
Other Assets Less Liabilities (0.2%)				4,561,402
Net Assets (100%)			$	2,161,203,973

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

See Notes to Portfolio of Investments.

1

AXA PREMIER VIP TRUST

AXA CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
ATM International Portfolio	$	45,516,779	$	184,457	$	6,037,417	$	41,332,811	$	—	$	4,214
ATM Large Cap Portfolio		155,826,360		645,599		13,750,927		156,893,518		—		1,394,782
ATM Mid Cap Portfolio		9,242,483		23,057		381,902		10,073,733		—		(1,698	)
ATM Small Cap Portfolio		5,771,776		23,057		375,334		6,106,150		—		4,870
EQ/AllianceBernstein Small Cap Growth Portfolio		4,090,562		13,834		213,585		4,340,719		—		14,537
EQ/BlackRock Basic Value Equity Portfolio		29,295,349		69,171		1,042,040		31,593,645		—		98,572
EQ/Boston Advisors Equity Income Portfolio		25,928,994		69,171		1,073,222		27,677,970		—		67,390
EQ/Core Bond Index Portfolio		572,453,338		11,851,826		38,820,093		546,071,991		—		(39,295	)
EQ/Davis New York Venture Portfolio		962,188		—		815,548		—		—		249,219
EQ/GAMCO Small Company Value Portfolio		9,361,903		23,057		355,859		10,068,525		—		24,345
EQ/Global Bond PLUS Portfolio		25,857,052		92,229		1,536,444		24,222,629		—		(15,629	)
EQ/Global Multi-Sector Equity Portfolio		10,623,526		46,114		1,586,540		9,484,902		—		173,867
EQ/Intermediate Government Bond Portfolio		796,125,550		19,797,168		54,369,862		761,804,100		—		(705	)
EQ/International Core PLUS Portfolio		6,959,248		23,057		374,355		6,854,815		—		5,849
EQ/International Equity Index Portfolio		1,621,356		—		—		1,659,584		—		—
EQ/International ETF Portfolio		3,118,662		—		—		3,232,807		—		—
EQ/International Value PLUS Portfolio		3,795,336		—		—		3,880,392		—		—
EQ/Large Cap Core PLUS Portfolio		16,616,579		69,171		3,047,423		15,137,786		—		93,189
EQ/Large Cap Growth Index Portfolio		16,258,074		69,171		2,568,983		14,551,138		—		571,628
EQ/Large Cap Growth PLUS Portfolio		35,234,285		184,457		4,080,224		33,601,769		—		961,408
EQ/Large Cap Value PLUS Portfolio		13,186,826		92,229		6,225,556		5,944,712		—		2,295,259
EQ/MFS International Growth Portfolio		20,882,455		92,229		1,426,680		20,333,518		—		94,135
EQ/PIMCO Ultra Short Bond Portfolio		307,104,383		2,309,852		20,537,815		289,417,560		—		(6,804	)
Multimanager Core Bond Portfolio		57,033,233		2,445,193		3,805,424		55,558,149		214,621		(3,385	)
Multimanager International Equity Portfolio		2,789,451		23,057		867,545		2,023,261		—		12,658
Multimanager Large Cap Core Equity Portfolio		21,109,758		92,229		1,270,011		21,813,847		—		250,804
Multimanager Large Cap Value Portfolio		18,552,331		92,229		5,353,381		13,056,219		—		2,167,435
Multimanager Mid Cap Growth Portfolio		3,360,620		—		—		3,784,163		—		—
Multimanager Mid Cap Value Portfolio		4,075,230		23,057		366,419		4,253,579		—		13,785
Multimanager Multi-Sector Bond Portfolio		31,353,057		138,343		2,263,107		29,365,570		—		18,117
Multimanager Small Cap Growth Portfolio		2,330,027		9,223		122,504		2,503,009		—		29,577
		$2,256,436,771	$	38,502,237	$	172,668,200	$	2,156,642,571	$	214,621	$	8,478,124

See Notes to Portfolio of Investments.

2

AXA PREMIER VIP TRUST

AXA CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	2,156,642,571	$	—	$	2,156,642,571
Total Assets	$	—	$	2,156,642,571	$	—	$	2,156,642,571
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	2,156,642,571	$	—	$	2,156,642,571

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31.2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	38,502,237
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	181,146,324

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	138,697,371
Aggregate gross unrealized depreciation		(237,528	)
Net unrealized appreciation	$	138,459,843
Federal income tax cost of investments	$	2,018,182,728

See Notes to Portfolio of Investments.

3

AXA PREMIER VIP TRUST

AXA CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
ATM International Portfolio‡		9,353,821	$	92,492,580
ATM Large Cap Portfolio‡		18,327,329		228,930,717
ATM Mid Cap Portfolio‡		2,728,613		30,089,254
ATM Small Cap Portfolio‡		3,373,609		43,447,224
EQ/AllianceBernstein Small Cap Growth Portfolio*‡		1,392,275		26,499,115
EQ/AXA Franklin Small Cap Value Core Portfolio‡		351,813		4,184,699
EQ/BlackRock Basic Value Equity Portfolio‡		2,596,755		42,333,653
EQ/Boston Advisors Equity Income Portfolio‡		6,479,532		42,158,850
EQ/Core Bond Index Portfolio‡		36,694,947		372,771,889
EQ/GAMCO Small Company Value Portfolio‡		427,958		20,147,242
EQ/Global Bond PLUS Portfolio‡		1,625,016		15,918,855
EQ/Global Multi-Sector Equity Portfolio‡		1,794,199		23,488,823
EQ/Intermediate Government Bond Portfolio‡		50,032,959		520,375,516
EQ/International Core PLUS Portfolio‡		1,364,619		12,516,108
EQ/International Equity Index Portfolio‡		479,269		4,042,069
EQ/International ETF Portfolio‡ .		1,001,680		6,606,726
EQ/International Value PLUS Portfolio‡		787,338		8,898,300
EQ/Large Cap Core PLUS Portfolio‡		3,267,092		25,033,611
EQ/Large Cap Growth Index Portfolio‡		1,906,801		20,935,323
EQ/Large Cap Growth PLUS Portfolio‡		2,459,557		49,873,468
EQ/Large Cap Value PLUS Portfolio‡		1,372,353		16,726,608
EQ/MFS International Growth Portfolio‡		6,064,146		41,840,132
EQ/Mid Cap Index Portfolio‡		393,150		4,217,240
EQ/PIMCO Ultra Short Bond Portfolio‡		19,590,597		195,599,440
EQ/Small Company Index Portfolio‡		332,136		3,614,879
Multimanager Core Bond Portfolio‡		3,919,023		40,235,623
Multimanager International Equity Portfolio‡		631,053		6,715,187
Multimanager Large Cap Core Equity Portfolio‡		2,017,501		23,799,283
Multimanager Large Cap Value Portfolio‡		1,598,410		18,659,271
Multimanager Mid Cap Growth Portfolio*‡		330,329		3,674,594
Multimanager Mid Cap Value Portfolio‡		1,035,786		11,749,611
Multimanager Multi-Sector Bond Portfolio‡		4,911,227		19,938,076
Multimanager Small Cap Growth Portfolio*‡		303,288		2,897,789
Multimanager Small Cap Value Portfolio‡		238,696		3,115,699
Total Investments (100.0%) (Cost $1,768,341,705)				1,983,527,454
Other Assets Less Liabilities (0.0%)				856,541
Net Assets (100%)			$	1,984,383,995

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

See Notes to Portfolio of Investments.

4

AXA PREMIER VIP TRUST

AXA CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
ATM International Portfolio	$	98,322,391	$	422,401	$	9,952,916	$	92,492,580	$	—	$	(117,699	)
ATM Large Cap Portfolio		218,406,983		950,403		11,705,571		228,930,717		—		923,668
ATM Mid Cap Portfolio		29,228,827		105,600		2,884,852		30,089,254		—		73,952
ATM Small Cap Portfolio		39,813,006		147,842		1,337,799		43,447,224		—		4,527
EQ/AllianceBernstein Small Cap Growth Portfolio		24,388,497		84,480		726,954		26,499,115		—		40,090
EQ/AXA Franklin Small Cap Value Core Portfolio		4,084,205		42,240		236,367		4,184,699		—		147,155
EQ/BlackRock Basic Value Equity Portfolio		38,710,835		105,600		888,869		42,333,653		—		69,935
EQ/Boston Advisors Equity Income Portfolio		38,761,855		105,600		909,350		42,158,850		—		49,454
EQ/Core Bond Index Portfolio		372,998,104		14,126,245		14,770,929		372,771,889		—		(5,342	)
EQ/Davis New York Venture Portfolio		721,641		—		611,661		—		—		186,914
EQ/GAMCO Small Company Value Portfolio		18,383,816		42,240		360,071		20,147,242		—		23,450
EQ/Global Bond PLUS Portfolio		16,563,496		63,360		577,926		15,918,855		—		(2,643	)
EQ/Global Multi-Sector Equity Portfolio		28,804,427		105,600		6,433,751		23,488,823		—		525,053
EQ/Intermediate Government Bond Portfolio		517,403,870		23,259,847		20,518,385		520,375,516		—		28
EQ/International Core PLUS Portfolio		12,888,276		42,240		862,513		12,516,108		—		21,009
EQ/International Equity Index Portfolio		4,115,535		21,120		191,507		4,042,069		—		254
EQ/International ETF Portfolio		7,685,921		42,240		1,407,185		6,606,726		—		(23,664	)
EQ/International Value PLUS Portfolio		9,359,030		21,120		678,560		8,898,300		—		13,201
EQ/Large Cap Core PLUS Portfolio		23,260,569		84,480		736,614		25,033,611		—		30,430
EQ/Large Cap Growth Index Portfolio		20,110,554		126,721		810,190		20,935,323		—		340,376
EQ/Large Cap Growth PLUS Portfolio		47,503,483		274,561		1,979,538		49,873,468		—		513,353
EQ/Large Cap Value PLUS Portfolio		24,101,532		147,841		6,563,774		16,726,608		—		3,278,552
EQ/MFS International Growth Portfolio		41,442,593		168,961		1,474,178		41,840,132		—		59,909
EQ/Mid Cap Index Portfolio		3,721,208		—		—		4,217,240		—		—
EQ/PIMCO Ultra Short Bond Portfolio		198,942,568		4,164,498		7,862,194		195,599,440		—		1
EQ/Small Company Index Portfolio		3,224,973		—		—		3,614,879		—		—
Multimanager Core Bond Portfolio		37,512,991		4,318,399		1,535,454		40,235,623		149,438		(1,367	)
Multimanager International Equity Portfolio		7,641,646		21,120		1,212,526		6,715,187		—		(20,765	)
Multimanager Large Cap Core Equity Portfolio		22,526,682		126,720		1,049,433		23,799,283		—		101,133
Multimanager Large Cap Value Portfolio		27,541,963		126,721		9,199,101		18,659,271		—		2,451,465

See Notes to Portfolio of Investments.

5

AXA PREMIER VIP TRUST

AXA CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
Multimanager Mid Cap Growth Portfolio	$	3,263,315	$	—	$	—	$	3,674,594	$	—	$	—
Multimanager Mid Cap Value Portfolio		10,499,843		21,120		169,006		11,749,611		—		22,753
Multimanager Multi-Sector Bond Portfolio		20,515,130		84,480		763,181		19,938,076		—		3,862
Multimanager Small Cap Growth Portfolio		2,702,564		21,120		148,880		2,897,789		—		42,881
Multimanager Small Cap Value Portfolio		2,874,496		21,120		171,252		3,115,699		—		20,509
	$	1,978,026,825	$	49,396,040	$	108,730,487	$	1,983,527,454	$	149,438	$	8,772,434

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	1,983,527,454	$	—	$	1,983,527,454
Total Assets	$	—	$	1,983,527,454	$	—	$	1,983,527,454
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	1,983,527,454	$	—	$	1,983,527,454

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	49,396,040
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	117,502,921

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	226,544,009
Aggregate gross unrealized depreciation		(12,137,453	)
Net unrealized appreciation	$	214,406,556
Federal income tax cost of investments	$	1,769,120,898

See Notes to Portfolio of Investments.

6

AXA PREMIER VIP TRUST

AXA MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
ATM International Portfolio‡		72,704,800	$	718,920,571
ATM Large Cap Portfolio‡		104,017,686		1,299,307,907
ATM Mid Cap Portfolio‡		13,646,164		150,480,421
ATM Small Cap Portfolio‡		25,667,906		330,565,621
EQ/AllianceBernstein Small Cap Growth Portfolio‡		12,472,680		237,392,022
EQ/AXA Franklin Small Cap Value Core Portfolio‡		4,454,800		52,988,381
EQ/BlackRock Basic Value Equity Portfolio‡		13,052,175		212,783,392
EQ/Boston Advisors Equity Income Portfolio‡		31,424,289		204,461,050
EQ/Core Bond Index Portfolio‡		158,631,381		1,611,483,998
EQ/GAMCO Small Company Value Portfolio‡		3,297,479		155,237,284
EQ/Global Bond PLUS Portfolio‡		7,144,534		69,988,717
EQ/Global Multi-Sector Equity Portfolio‡		13,812,803		180,830,822
EQ/Intermediate Government Bond Portfolio‡		216,095,761		2,247,537,342
EQ/International Core PLUS Portfolio‡		11,388,529		104,454,081
EQ/International Equity Index Portfolio‡		2,138,350		18,034,447
EQ/International ETF Portfolio‡		9,978,874		65,817,098
EQ/International Value PLUS Portfolio‡		6,335,780		71,605,431
EQ/Large Cap Core PLUS Portfolio‡		17,948,223		137,525,615
EQ/Large Cap Growth Index Portfolio‡		9,134,303		100,288,149
EQ/Large Cap Growth PLUS Portfolio‡		15,796,474		320,311,724
EQ/Large Cap Value PLUS Portfolio‡		11,317,561		137,941,519
EQ/MFS International Growth Portfolio‡		45,147,740		311,501,001
EQ/Mid Cap Index Portfolio‡		1,200,117		12,873,418
EQ/PIMCO Ultra Short Bond Portfolio‡		85,217,309		850,839,738
EQ/Small Company Index Portfolio‡		2,007,917		21,853,650
Multimanager Core Bond Portfolio‡		15,802,174		162,236,954
Multimanager International Equity Portfolio‡		7,449,642		79,273,401
Multimanager Large Cap Core Equity Portfolio‡		9,579,935		113,008,898
Multimanager Large Cap Value Portfolio‡		12,438,731		145,205,310
Multimanager Mid Cap Growth Portfolio*‡		1,397,415		15,544,896
Multimanager Mid Cap Value Portfolio‡		4,245,081		48,154,770
Multimanager Multi-Sector Bond Portfolio‡		21,382,146		86,804,952
Multimanager Small Cap Growth Portfolio*‡		4,914,325		46,954,285
Multimanager Small Cap Value Portfolio‡		1,439,483		18,789,596
Total Investments (100.0%) (Cost $9,086,343,081)				10,340,996,461
Other Assets Less Liabilities (0.0%)				1,027,551
Net Assets (100%)			$	10,342,024,012

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

See Notes to Portfolio of Investments.

7

AXA PREMIER VIP TRUST

AXA MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
ATM International Portfolio	$	764,017,023	$	521,653	$	74,229,500	$	718,920,571	$	—	$	(906,166	)
ATM Large Cap Portfolio		1,238,552,396		852,034		60,776,453		1,299,307,907		—		4,884,993
ATM Mid Cap Portfolio		141,510,718		104,331		9,038,265		150,480,421		—		226,402
ATM Small Cap Portfolio		300,343,915		208,661		6,511,180		330,565,621		—		18,154
EQ/AllianceBernstein Small Cap Growth Portfolio		215,727,493		104,331		3,076,604		237,392,022		—		188,063
EQ/AXA Franklin Small Cap Value Core Portfolio		49,153,627		52,165		1,434,376		52,988,381		—		197,958
EQ/BlackRock Basic Value Equity Portfolio		193,527,869		104,331		3,060,775		212,783,392		—		203,892
EQ/Boston Advisors Equity Income Portfolio		186,575,200		86,942		2,571,540		204,461,050		—		149,016
EQ/Core Bond Index Portfolio		1,569,797,254		74,095,472		34,289,077		1,611,483,998		—		(10,074	)
EQ/Davis New York Venture Portfolio		5,532,581		—		4,689,401		—		—		1,433,009
EQ/GAMCO Small Company Value Portfolio		141,164,507		69,554		2,035,154		155,237,284		—		141,291
EQ/Global Bond PLUS Portfolio		70,144,290		2,052,165		1,636,719		69,988,717		—		(4,386	)
EQ/Global Multi-Sector Equity Portfolio		185,221,280		121,719		15,956,887		180,830,822		—		(1,148,109	)
EQ/Intermediate Government Bond Portfolio		2,192,820,418		101,530,183		47,882,197		2,247,537,342		—		(416	)
EQ/International Core PLUS Portfolio		104,243,065		52,165		3,657,526		104,454,081		—		(25,193	)
EQ/International Equity Index Portfolio		18,648,928		34,777		836,158		18,034,447		—		252,065
EQ/International ETF Portfolio		67,972,172		52,165		4,618,248		65,817,098		—		14,086
EQ/International Value PLUS Portfolio		73,022,013		34,777		2,802,720		71,605,431		—		285,503
EQ/Large Cap Core PLUS Portfolio		126,735,084		86,942		2,574,143		137,525,615		—		146,413
EQ/Large Cap Growth Index Portfolio		95,179,163		121,719		2,334,515		100,288,149		—		1,474,263
EQ/Large Cap Growth PLUS Portfolio		298,562,879		243,438		5,796,399		320,311,724		—		1,821,157
EQ/Large Cap Value PLUS Portfolio		159,927,658		139,108		22,695,882		137,941,519		—		16,657,006
EQ/MFS International Growth Portfolio		304,293,194		191,273		5,651,672		311,501,001		—		333,551
EQ/Mid Cap Index Portfolio		11,359,247		—		—		12,873,418		—		—
EQ/PIMCO Ultra Short Bond Portfolio		833,583,300		33,696,230		17,950,901		850,839,738		—		4,767
EQ/Small Company Index Portfolio		19,496,482		—		—		21,853,650		—		—
Multimanager Core Bond Portfolio		161,622,895		4,750,577		3,808,377		162,236,954		628,858		401
Multimanager International Equity Portfolio		97,117,723		34,777		21,351,913		79,273,401		—		(263,691	)
Multimanager Large Cap Core Equity Portfolio		105,860,362		121,719		3,735,835		113,008,898		—		72,943
Multimanager Large Cap Value Portfolio		170,605,603		121,719		43,894,014		145,205,310		—		(85,236	)
Multimanager Mid Cap Growth Portfolio		13,805,033		—		—		15,544,896		—		—
Multimanager Mid Cap Value Portfolio		42,873,727		17,389		475,118		48,154,770		—		68,993

See Notes to Portfolio of Investments.

8

AXA PREMIER VIP TRUST

AXA MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
Multimanager Multi-Sector Bond Portfolio		78,913,683		9,052,165		1,630,390		86,804,952		—		1,943
Multimanager Small Cap Growth Portfolio		42,208,104		34,777		890,529		46,954,285		—		197,693
Multimanager Small Cap Value Portfolio		16,874,424		17,389		547,722		18,789,596		—		(3,610	)
	$	10,096,993,310	$	228,706,647	$	412,440,190	$	10,340,996,461	$	628,858	$	26,326,681

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	10,340,996,461	$	—	$	10,340,996,461
Total Assets	$	—	$	10,340,996,461	$	—	$	10,340,996,461
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	10,340,996,461	$	—	$	10,340,996,461

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	228,706,647
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	438,766,871

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	1,323,763,925
Aggregate gross unrealized depreciation		(69,601,975	)
Net unrealized appreciation	$	1,254,161,950
Federal income tax cost of investments	$	9,086,834,511

See Notes to Portfolio of Investments.

9

AXA PREMIER VIP TRUST

AXA MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
ATM International Portfolio‡		108,378,772	$	1,071,672,415
ATM Large Cap Portfolio‡		162,067,800		2,024,424,718
ATM Mid Cap Portfolio‡		17,561,759		193,658,883
ATM Small Cap Portfolio‡		48,416,883		623,539,642
EQ/AllianceBernstein Small Cap Growth Portfolio‡		21,686,650		412,761,151
EQ/AXA Franklin Small Cap Value Core Portfolio‡		8,400,687		99,923,405
EQ/BlackRock Basic Value Equity Portfolio‡		16,248,702		264,894,842
EQ/Boston Advisors Equity Income Portfolio‡		36,660,040		238,527,283
EQ/Core Bond Index Portfolio‡		104,272,353		1,059,268,520
EQ/GAMCO Small Company Value Portfolio‡		3,936,120		185,302,929
EQ/Global Bond PLUS Portfolio‡		101,637		995,651
EQ/Global Multi-Sector Equity Portfolio‡		17,523,582		229,410,624
EQ/Intermediate Government Bond Portfolio‡		146,220,354		1,520,787,379
EQ/International Core PLUS Portfolio‡		17,136,049		157,169,576
EQ/International Equity Index Portfolio‡		6,046,653		50,996,350
EQ/International ETF Portfolio‡		14,706,833		97,001,028
EQ/International Value PLUS Portfolio‡		11,405,538		128,902,583
EQ/Large Cap Core PLUS Portfolio‡		23,275,160		178,342,485
EQ/Large Cap Growth Index Portfolio‡		17,511,244		192,261,007
EQ/Large Cap Growth PLUS Portfolio‡		21,633,975		438,681,166
EQ/Large Cap Value PLUS Portfolio‡		24,494,850		298,549,913
EQ/MFS International Growth Portfolio‡		59,398,044		409,822,291
EQ/Mid Cap Index Portfolio‡		1,097,795		11,775,823
EQ/PIMCO Ultra Short Bond Portfolio‡		55,703,234		556,160,779
EQ/Small Company Index Portfolio‡		2,005,863		21,831,299
Multimanager Core Bond Portfolio‡		10,516,912		107,974,497
Multimanager International Equity Portfolio‡		12,157,054		129,366,084
Multimanager Large Cap Core Equity Portfolio‡		22,094,113		260,631,345
Multimanager Large Cap Value Portfolio‡		25,117,026		293,207,196
Multimanager Mid Cap Growth Portfolio*‡		1,016,320		11,305,581
Multimanager Mid Cap Value Portfolio‡		1,283,644		14,561,227
Multimanager Multi-Sector Bond Portfolio‡		13,872,601		56,318,503
Multimanager Small Cap Growth Portfolio*‡		15,855,083		151,488,575
Multimanager Small Cap Value Portfolio‡		6,200,282		80,932,412
Total Investments (100.0%) (Cost $9,589,662,817)				11,572,447,162
Other Assets Less Liabilities (0.0%)				2,867,946
Net Assets (100%)			$	11,575,315,108

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

See Notes to Portfolio of Investments.

10

AXA PREMIER VIP TRUST

AXA MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
ATM International Portfolio	$	1,093,126,496	$	61,210	$	62,291,181	$	1,071,672,415	$	—	$	(732,385	)
ATM Large Cap Portfolio		1,895,473,199		109,864		61,336,983		2,024,424,718		—		3,832,649
ATM Mid Cap Portfolio		208,010,564		7,847		38,318,627		193,658,883		—		586,346
ATM Small Cap Portfolio		567,426,130		29,820		12,884,022		623,539,642		—		54,878
EQ/AllianceBernstein Small Cap Growth Portfolio		376,293,852		15,695		6,406,408		412,761,151		—		403,540
EQ/AXA Franklin Small Cap Value Core Portfolio		92,440,979		6,278		2,383,939		99,923,405		—		340,040
EQ/BlackRock Basic Value Equity Portfolio		242,313,249		12,556		5,004,869		264,894,842		—		443,089
EQ/Boston Advisors Equity Income Portfolio		219,237,306		10,986		4,487,965		238,527,283		—		278,998
EQ/Core Bond Index Portfolio		1,025,836,360		58,059,640		25,875,823		1,059,268,520		—		1,977
EQ/Davis New York Venture Portfolio		4,810,940		—		4,077,740		—		—		1,246,096
EQ/GAMCO Small Company Value Portfolio		170,594,585		10,986		4,438,635		185,302,929		—		328,328
EQ/Global Bond PLUS Portfolio		—		1,000,000		—		995,651		—		—
EQ/Global Multi-Sector Equity Portfolio		222,284,422		12,556		5,454,907		229,410,624		—		(6,949	)
EQ/Intermediate Government Bond Portfolio		1,465,710,126		91,084,752		36,773,614		1,520,787,379		—		102
EQ/International Core PLUS Portfolio		154,280,569		6,278		2,662,029		157,169,576		—		61,950
EQ/International Equity Index Portfolio		64,197,177		6,278		9,925,108		50,996,350		—		4,798,871
EQ/International ETF Portfolio		99,160,945		6,278		5,639,997		97,001,028		—		83,982
EQ/International Value PLUS Portfolio		128,068,483		4,708		1,996,808		128,902,583		—		46,176
EQ/Large Cap Core PLUS Portfolio		164,965,351		9,417		3,852,420		178,342,485		—		233,548
EQ/Large Cap Growth Index Portfolio		182,196,403		15,695		4,338,751		192,261,007		—		2,471,197
EQ/Large Cap Growth PLUS Portfolio		412,190,452		31,390		8,972,685		438,681,166		—		4,647,210
EQ/Large Cap Value PLUS Portfolio		300,189,457		18,834		22,037,245		298,549,913		—		14,134,692
EQ/MFS International Growth Portfolio		402,165,649		21,973		8,959,996		409,822,291		—		573,930
EQ/Mid Cap Index Portfolio		11,323,755		—		744,013		11,775,823		—		255,987
EQ/PIMCO Ultra Short Bond Portfolio		542,435,705		26,355,226		13,615,928		556,160,779		—		3,967
EQ/Small Company Index Portfolio		19,476,541		—		—		21,831,299		—		—
Multimanager Core Bond Portfolio		99,483,674		11,408,965		2,723,662		107,974,497		402,687		317
Multimanager International Equity Portfolio		155,940,093		6,278		28,369,755		129,366,084		—		3,354,224
Multimanager Large Cap Core Equity Portfolio		241,877,883		14,125		6,131,342		260,631,345		—		(2,390	)
Multimanager Large Cap Value Portfolio		288,989,931		14,125		29,172,308		293,207,196		—		(43,355	)
Multimanager Mid Cap Growth Portfolio		10,979,740		—		684,319		11,305,581		—		315,681
Multimanager Mid Cap Value Portfolio		12,816,274		—		—		14,561,227		—		—
Multimanager Multi-Sector Bond Portfolio		54,373,965		3,003,139		1,359,450		56,318,503		—		2,540

See Notes to Portfolio of Investments.

11

AXA PREMIER VIP TRUST

AXA MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
Multimanager Small Cap Growth Portfolio		136,166,399		7,847		2,729,383		151,488,575		—		675,591
Multimanager Small Cap Value Portfolio		71,218,145		1,570		662,607		80,932,412		—		18,388
	$	11,136,054,799	$	191,354,316	$	424,312,519	$	11,572,447,162	$	402,687	$	38,409,215

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	11,572,447,162	$	—	$	11,572,447,162
Total Assets	$	—	$	11,572,447,162	$	—	$	11,572,447,162
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	11,572,447,162	$	—	$	11,572,447,162

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	191,354,316
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	462,721,734

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	2,014,234,640
Aggregate gross unrealized depreciation		(31,780,583	)
Net unrealized appreciation	$	1,982,454,057
Federal income tax cost of investments	$	9,589,993,105

See Notes to Portfolio of Investments.

12

AXA PREMIER VIP TRUST

AXA AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
ATM International Portfolio‡		36,656,976	$	362,471,995
ATM Large Cap Portfolio‡		64,826,766		809,765,469
ATM Mid Cap Portfolio‡		5,719,905		63,075,140
ATM Small Cap Portfolio‡		16,003,185		206,097,949
EQ/AllianceBernstein Small Cap Growth Portfolio‡		5,997,972		114,159,156
EQ/AXA Franklin Small Cap Value Core Portfolio‡		3,497,087		41,596,699
EQ/BlackRock Basic Value Equity Portfolio‡		4,513,733		73,585,238
EQ/Boston Advisors Equity Income Portfolio‡		8,126,419		52,874,267
EQ/Core Bond Index Portfolio‡		9,139,012		92,840,218
EQ/GAMCO Small Company Value Portfolio‡		2,204,899		103,801,278
EQ/Global Multi-Sector Equity Portfolio‡		5,647,081		73,928,970
EQ/Intermediate Government Bond Portfolio‡		12,812,304		133,256,350
EQ/International Core PLUS Portfolio‡		5,592,556		51,294,184
EQ/International Equity Index Portfolio‡		6,142,302		51,803,034
EQ/International ETF Portfolio‡		5,290,544		34,894,540
EQ/International Value PLUS Portfolio‡		6,649,992		75,156,574
EQ/Large Cap Core PLUS Portfolio‡		8,451,306		64,756,889
EQ/Large Cap Growth Index Portfolio‡		9,952,694		109,273,504
EQ/Large Cap Growth PLUS Portfolio‡		7,791,871		157,999,023
EQ/Large Cap Value PLUS Portfolio‡		15,291,629		186,378,537
EQ/MFS International Growth Portfolio‡		24,160,454		166,697,281
EQ/Mid Cap Index Portfolio‡		597,375		6,407,917
EQ/PIMCO Ultra Short Bond Portfolio‡		4,942,057		49,343,242
EQ/Small Company Index Portfolio‡		630,920		6,866,770
Multimanager Core Bond Portfolio‡		1,026,042		10,534,120
Multimanager International Equity Portfolio‡		3,371,366		35,875,506
Multimanager Large Cap Core Equity Portfolio‡		8,945,314		105,522,640
Multimanager Large Cap Value Portfolio‡		14,817,174		172,970,407
Multimanager Mid Cap Growth Portfolio*‡		656,627		7,304,345
Multimanager Mid Cap Value Portfolio‡		590,500		6,698,428
Multimanager Multi-Sector Bond Portfolio‡		1,518,684		6,165,392
Multimanager Small Cap Growth Portfolio*‡		6,685,899		63,880,923
Multimanager Small Cap Value Portfolio‡		463,932		6,055,717
Total Investments (99.8%) (Cost $2,709,540,807)				3,503,331,702
Other Assets Less Liabilities (0.2%)				6,490,907
Net Assets (100%)			$	3,509,822,609

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

See Notes to Portfolio of Investments.

13

AXA PREMIER VIP TRUST

AXA AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
ATM International Portfolio	$	357,491,420	$	799,436	$	9,000,032	$	362,471,995	$	—	$	(3,559	)
ATM Large Cap Portfolio		747,805,547		1,457,795		15,503,093		809,765,469		—		902,242
ATM Mid Cap Portfolio		67,419,616		78,376		12,200,372		63,075,140		—		181,636
ATM Small Cap Portfolio		187,153,020		376,205		3,562,112		206,097,949		—		671,522
EQ/AllianceBernstein Small Cap Growth Portfolio		104,111,115		188,103		1,988,031		114,159,156		—		128,786
EQ/AXA Franklin Small Cap Value Core Portfolio		38,321,901		94,051		933,800		41,596,699		—		124,609
EQ/BlackRock Basic Value Equity Portfolio		67,545,248		172,427		1,638,201		73,585,238		—		302,215
EQ/Boston Advisors Equity Income Portfolio		48,962,675		141,077		1,495,153		52,874,267		—		92,460
EQ/Core Bond Index Portfolio		91,664,058		3,188,103		2,117,214		92,840,218		—		(396	)
EQ/GAMCO Small Company Value Portfolio		94,417,384		141,077		1,477,709		103,801,278		—		109,904
EQ/Global Multi-Sector Equity Portfolio		71,182,870		125,402		1,401,565		73,928,970		—		9,647
EQ/Intermediate Government Bond Portfolio		126,419,396		9,766,479		2,998,831		133,256,350		—		(6	)
EQ/International Core PLUS Portfolio		50,270,575		78,376		882,763		51,294,184		—		(756	)
EQ/International Equity Index Portfolio		51,395,932		78,376		862,093		51,803,034		—		19,914
EQ/International ETF Portfolio		34,287,856		62,701		706,121		34,894,540		—		(515	)
EQ/International Value PLUS Portfolio		74,137,700		62,701		705,561		75,156,574		—		45
EQ/Large Cap Core PLUS Portfolio		59,712,812		125,402		1,330,701		64,756,889		—		80,511
EQ/Large Cap Growth Index Portfolio		101,714,149		188,102		1,776,934		109,273,504		—		339,883
EQ/Large Cap Growth PLUS Portfolio		147,618,702		391,880		3,032,183		157,999,023		—		1,377,853
EQ/Large Cap Value PLUS Portfolio		170,478,358		266,479		3,789,535		186,378,537		—		709,289
EQ/MFS International Growth Portfolio		162,942,447		313,504		3,300,011		166,697,281		—		228,018
EQ/Mid Cap Index Portfolio		5,654,217		—		—		6,407,917		—		—
EQ/PIMCO Ultra Short Bond Portfolio		48,220,261		2,094,051		1,058,229		49,343,242		—		179
EQ/Small Company Index Portfolio		6,126,109		—		—		6,866,770		—		—
Multimanager Core Bond Portfolio		10,676,152		56,804		176,553		10,534,120		41,129		(151	)
Multimanager International Equity Portfolio		35,517,905		78,376		886,368		35,875,506		—		(4,361	)
Multimanager Large Cap Core Equity Portfolio		97,257,930		172,427		1,939,312		105,522,640		—		1,104
Multimanager Large Cap Value Portfolio		157,744,047		188,103		3,620,298		172,970,407		—		(3,481	)
Multimanager Mid Cap Growth Portfolio		6,486,806		—		—		7,304,345		—		—
Multimanager Mid Cap Value Portfolio		5,895,718		—		—		6,698,428		—		—
Multimanager Multi-Sector Bond Portfolio		6,293,447		15,675		175,675		6,165,392		—		726
Multimanager Small Cap Growth Portfolio		56,983,369		94,051		925,657		63,880,923		—		132,751
Multimanager Small Cap Value Portfolio		5,428,636		15,675		138,601		6,055,717		—		37,801
	$	3,297,337,378	$	20,811,214	$	79,622,708	$	3,503,331,702	$	41,129	$	5,437,870

See Notes to Portfolio of Investments.

14

AXA PREMIER VIP TRUST

AXA AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	3,503,331,702	$	—	$	3,503,331,702
Total Assets	$	—	$	3,503,331,702	$	—	$	3,503,331,702
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	3,503,331,702	$	—	$	3,503,331,702

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	20,811,214
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	85,060,578

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	808,254,715
Aggregate gross unrealized depreciation		(15,098,693	)
Net unrealized appreciation	$	793,156,022
Federal income tax cost of investments	$	2,710,175,680

See Notes to Portfolio of Investments.

15

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Consumer Discretionary (16.9%)
Auto Components (0.2%)
Allison Transmission Holdings, Inc.		8,200	$	196,882
BorgWarner, Inc.*		9,273		717,174
Dana Holding Corp.		9,800		174,734
Delphi Automotive plc		23,000		1,021,200
Drew Industries, Inc.		1,400		50,834
Gentex Corp.		11,900		238,119
Gentherm, Inc.*		1,800		29,484
Goodyear Tire & Rubber Co.*		20,593		259,678
Tenneco, Inc.*		4,300		169,033
				2,857,138
Automobiles (0.3%)
Harley-Davidson, Inc.		16,200		863,460
Tesla Motors, Inc.*		82,044		3,108,647
				3,972,107
Distributors (0.1%)
Genuine Parts Co.		10,900		850,200
LKQ Corp.*		24,036		523,023
Pool Corp.		3,200		153,600
				1,526,823
Diversified Consumer Services (0.1%)
American Public Education, Inc.*		1,643		57,324
Apollo Group, Inc., Class A*		10,961		190,612
Bridgepoint Education, Inc.*		1,425		14,578
Grand Canyon Education, Inc.*		2,000		50,780
H&R Block, Inc.		12,800		376,576
Hillenbrand, Inc.		3,408		86,154
ITT Educational Services, Inc.*		3,000		41,340
K12, Inc.*		2,197		52,970
Sotheby’s, Inc.		6,600		246,906
Steiner Leisure Ltd.*		800		38,688
Universal Technical Institute, Inc.		1,961		24,767
Weight Watchers International, Inc.		1,968		82,873
				1,263,568
Hotels, Restaurants & Leisure (3.4%)
AFC Enterprises, Inc.*		1,100		39,963
Ameristar Casinos, Inc.		2,398		62,900
Apollo Global Management LLC, Class A		192,800		4,172,192
Brinker International, Inc.		5,300		199,545
Carnival Corp.		40,200		1,378,860
CEC Entertainment, Inc.		2,094		68,578
Chipotle Mexican Grill, Inc.*		14,629		4,767,152
Choice Hotels International, Inc.		200		8,462
Cracker Barrel Old Country Store, Inc.		2,100		169,785
Darden Restaurants, Inc.		12,000		620,160
Denny’s Corp.*		7,700		44,429
DineEquity, Inc.		2,200		151,338
Dunkin’ Brands Group, Inc.		5,700		210,216
Einstein Noah Restaurant Group, Inc.		200		2,966
International Game Technology		10,953		180,724
Interval Leisure Group, Inc.		3,592		78,090
Las Vegas Sands Corp.		104,733		5,901,705
Life Time Fitness, Inc.*		296		12,663
Marriott International, Inc., Class A		16,446		694,515
McDonald’s Corp.		106,165		10,583,589
Morgans Hotel Group Co.*		1,800		10,656
Panera Bread Co., Class A*		2,200		363,528
Papa John’s International, Inc.*		1,400		86,548
Penn National Gaming, Inc.*		3,500		190,505
Pinnacle Entertainment, Inc.*		3,134		45,819
Ruth’s Hospitality Group, Inc.*		900		8,586
Scientific Games Corp., Class A*		7,600		66,500
SHFL Entertainment, Inc.*		7,000		115,990
Sonic Corp.*		6,900		88,872
Starbucks Corp.		162,336		9,246,659
Starwood Hotels & Resorts Worldwide, Inc.		34,400		2,192,312
Texas Roadhouse, Inc.		6,300		127,197
Wyndham Worldwide Corp.		10,200		657,696
Wynn Resorts Ltd.		47,633		5,961,746
Yum! Brands, Inc.		33,096		2,380,926
				50,891,372
Household Durables (0.3%)
D.R. Horton, Inc.		32,800		797,040
Garmin Ltd.		4,000		132,160
iRobot Corp.*		71,730		1,840,592
Jarden Corp.*		5,700		244,245
NVR, Inc.*		300		324,033
Tempur-Pedic International, Inc.*		6,368		316,044
Tupperware Brands Corp.		5,400		441,396
				4,095,510
Internet & Catalog Retail (3.0%)
1-800-FLOWERS.COM, Inc., Class A*		2,100		10,437
Amazon.com, Inc.*		94,724		25,242,999
Blue Nile, Inc.*		1,500		51,675
Ctrip.com International Ltd. (ADR)*		143,078		3,059,008
Expedia, Inc.		2,991		179,490
Groupon, Inc.*		14,300		87,516
Liberty Interactive Corp.*		101,095		2,161,411
Liberty Ventures*		5,054		381,981
Netflix, Inc.*		33,000		6,250,530
Nutrisystem, Inc.		2,500		21,200
Overstock.com, Inc.*		1,300		16,016
PetMed Express, Inc.		1,900		25,488
priceline.com, Inc.*		10,345		7,116,636
TripAdvisor, Inc.*		5,691		298,891
				44,903,278
Leisure Equipment & Products (0.1%)
Hasbro, Inc.		11,075		486,635
Mattel, Inc.		18,383		804,992
Polaris Industries, Inc.		3,800		351,462
Smith & Wesson Holding Corp.*		8,200		73,800
				1,716,889
Media (3.7%)
AMC Networks, Inc., Class A*		21,422		1,353,442
Arbitron, Inc.		2,200		103,114
Cablevision Systems Corp. - New York Group, Class A		192,690		2,882,642
CBS Corp., Class B		35,280		1,647,223
Charter Communications, Inc., Class A*		4,100		427,138
Cinemark Holdings, Inc.		8,000		235,520
Comcast Corp., Class A		359,282		14,787,237
Crown Media Holdings, Inc., Class A*		400		820
DIRECTV*		76,867		4,351,441
Discovery Communications, Inc., Class A*		19,800		1,559,052
Discovery Communications, Inc., Class C*		4,200		292,068
DISH Network Corp., Class A		10,700		405,530
Global Sources Ltd.*		1,540		11,642
Interpublic Group of Cos., Inc.		13,300		173,299
John Wiley & Sons, Inc., Class A		3,300		128,568

See Notes to Portfolio of Investments.

16

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Lamar Advertising Co., Class A*		300	$	14,583
Liberty Global, Inc., Class A*		36,195		2,656,713
Liberty Media Corp.*		19,683		2,197,213
Madison Square Garden Co., Class A*		39,747		2,289,427
Morningstar, Inc.		3,300		230,736
National CineMedia, Inc.		224		3,535
News Corp., Class A		71,000		2,166,920
Omnicom Group, Inc.		20,713		1,219,996
Regal Entertainment Group, Class A		4,227		70,464
Scripps Networks Interactive, Inc., Class A		7,366		473,929
Sirius XM Radio, Inc.		320,700		987,756
Starz - Liberty Capital*		19,683		435,979
Time Warner Cable, Inc.		21,900		2,103,714
Value Line, Inc.		100		942
Viacom, Inc., Class B		75,700		4,660,849
Virgin Media, Inc.		22,600		1,106,722
Walt Disney Co.		117,510		6,674,568
World Wrestling Entertainment, Inc., Class A		42,700		376,614
				56,029,396
Multiline Retail (0.3%)
Big Lots, Inc.*		4,600		162,242
Dollar General Corp.*		12,900		652,482
Dollar Tree, Inc.*		29,200		1,414,156
Family Dollar Stores, Inc.		8,703		513,912
Kohl’s Corp.		3,533		162,977
Macy’s, Inc.		4,200		175,728
Nordstrom, Inc.		11,173		617,085
Target Corp.		2,700		184,815
				3,883,397
Specialty Retail (3.8%)
Aaron’s, Inc.		850		24,378
Advance Auto Parts, Inc.		5,100		421,515
Aeropostale, Inc.*		8,050		109,480
American Eagle Outfitters, Inc.		10,600		198,220
America’s Car-Mart, Inc.*		900		42,066
Ascena Retail Group, Inc.*		8,604		159,604
AutoNation, Inc.*		4,700		205,625
AutoZone, Inc.*		15,583		6,182,867
Bed Bath & Beyond, Inc.*		16,305		1,050,368
Buckle, Inc.		2,900		135,285
CarMax, Inc.*		5,500		229,350
Cato Corp., Class A		2,606		62,909
Dick’s Sporting Goods, Inc.		7,400		350,020
DSW, Inc., Class A		600		38,280
Finish Line, Inc., Class A		1,100		21,549
Five Below, Inc.*		123,500		4,679,415
Foot Locker, Inc.		5,300		181,472
Gap, Inc.		21,200		750,480
GNC Holdings, Inc., Class A		5,200		204,256
hhgregg, Inc.*		1,000		11,050
Home Depot, Inc.		201,087		14,031,851
L Brands, Inc.		18,300		817,278
Lowe’s Cos., Inc.		185,192		7,022,480
Lumber Liquidators Holdings, Inc.*		2,000		140,440
O’Reilly Automotive, Inc.*		8,783		900,697
PetSmart, Inc.		7,600		471,960
Ross Stores, Inc.		16,800		1,018,416
Sally Beauty Holdings, Inc.*		10,163		298,589
Systemax, Inc.		400		3,960
Tiffany & Co.		10,039		698,112
TJX Cos., Inc.		157,712		7,373,036
Tractor Supply Co.		86,182		8,974,132
Ulta Salon Cosmetics & Fragrance, Inc.*		4,400		357,148
Urban Outfitters, Inc.*		10,752		416,532
Williams-Sonoma, Inc.		4,400		226,688
Zumiez, Inc.*		1,600		36,640
				57,846,148
Textiles, Apparel & Luxury Goods (1.6%)
Carter’s, Inc.*		3,400		194,718
Cherokee, Inc.		300		4,110
Coach, Inc.		21,614		1,080,484
Crocs, Inc.*		3,900		57,798
Deckers Outdoor Corp.*		2,800		155,932
Fifth & Pacific Cos., Inc.*		6,868		129,668
Fossil, Inc.*		14,300		1,381,380
G-III Apparel Group Ltd.*		700		28,077
Hanesbrands, Inc.*		8,200		373,592
Maidenform Brands, Inc.*		2,500		43,825
Michael Kors Holdings Ltd.*		114,800		6,519,492
NIKE, Inc., Class B		156,841		9,255,187
Oxford Industries, Inc.		1,300		69,030
PVH Corp.		4,500		480,645
Ralph Lauren Corp.		8,068		1,365,993
Steven Madden Ltd.*		3,327		143,527
True Religion Apparel, Inc.		2,344		61,202
Under Armour, Inc., Class A*		50,300		2,575,360
VF Corp.		6,100		1,023,275
				24,943,295
Total Consumer Discretionary				253,928,921
Consumer Staples (6.1%)
Beverages (1.8%)
Anheuser-Busch InBev N.V. (ADR)		50,082		4,985,663
Brown-Forman Corp., Class B		9,900		706,860
Coca-Cola Bottling Co. Consolidated		300		18,096
Coca-Cola Co.		271,012		10,959,725
Coca-Cola Enterprises, Inc.		5,636		208,081
Dr. Pepper Snapple Group, Inc.		15,800		741,810
Monster Beverage Corp.*		21,700		1,035,958
National Beverage Corp.		100		1,405
PepsiCo, Inc.		108,371		8,573,230
				27,230,828
Food & Staples Retailing (1.6%)
Arden Group, Inc., Class A		100		10,109
Costco Wholesale Corp.		46,429		4,926,581
CVS Caremark Corp.		18,100		995,319
Fresh Market, Inc.*		4,200		179,634
Harris Teeter Supermarkets, Inc.		3,500		149,485
Kroger Co.		39,300		1,302,402
Pantry, Inc.*		300		3,741
Pricesmart, Inc.		1,200		93,396
Safeway, Inc.		8,800		231,880
Sysco Corp.		21,637		760,973
United Natural Foods, Inc.*		3,400		167,280
Wal-Mart Stores, Inc.		158,315		11,846,711
Whole Foods Market, Inc.		31,354		2,719,960
				23,387,471
Food Products (1.0%)
Alico, Inc.		200		9,250
Campbell Soup Co.		10,850		492,156
Darling International, Inc.*		9,000		161,640
Dean Foods Co.*		11,100		201,243
Flowers Foods, Inc.		7,650		251,991
General Mills, Inc.		34,276		1,690,150

See Notes to Portfolio of Investments.

17

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Green Mountain Coffee Roasters, Inc.*		18,300	$	1,038,708
H.J. Heinz Co.		13,364		965,816
Hain Celestial Group, Inc.*		2,900		177,132
Hershey Co.		32,133		2,812,601
Hillshire Brands Co.		10,030		352,555
Hormel Foods Corp.		5,200		214,864
Ingredion, Inc.		4,400		318,208
Kellogg Co.		16,303		1,050,402
Kraft Foods Group, Inc.		29,149		1,502,048
Lifeway Foods, Inc.		400		5,560
McCormick & Co., Inc. (Non-Voting)		9,249		680,264
Mead Johnson Nutrition Co.		14,300		1,107,535
Mondelez International, Inc., Class A		79,570		2,435,638
				15,467,761
Household Products (0.6%)
Church & Dwight Co., Inc.		5,900		381,317
Clorox Co.		2,200		194,766
Colgate-Palmolive Co.		31,398		3,705,906
Kimberly-Clark Corp.		24,479		2,398,453
Procter & Gamble Co.		23,607		1,819,155
				8,499,597
Personal Products (0.1%)
Avon Products, Inc.		30,360		629,363
Estee Lauder Cos., Inc., Class A		15,428		987,855
Herbalife Ltd.		10,600		396,970
Inter Parfums, Inc.		100		2,443
Nu Skin Enterprises, Inc., Class A		4,000		176,800
Star Scientific, Inc.*		1,100		1,826
USANA Health Sciences, Inc.*		500		24,165
				2,219,422
Tobacco (1.0%)
Altria Group, Inc.		111,193		3,823,927
Lorillard, Inc.		27,300		1,101,555
Philip Morris International, Inc.		110,334		10,229,065
Reynolds American, Inc.		7,300		324,777
				15,479,324
Total Consumer Staples				92,284,403
Energy (4.8%)
Energy Equipment & Services (2.1%)
Atwood Oceanics, Inc.*		4,000		210,160
Cameron International Corp.*		13,266		864,943
CARBO Ceramics, Inc.		1,400		127,498
Dresser-Rand Group, Inc.*		7,000		431,620
Dril-Quip, Inc.*		2,400		209,208
FMC Technologies, Inc.*		17,100		930,069
Halliburton Co.		73,440		2,967,710
Heckmann Corp.*		722,643		3,100,138
Helmerich & Payne, Inc.		6,300		382,410
Lufkin Industries, Inc.		2,200		146,058
National Oilwell Varco, Inc.		72,421		5,123,786
Oceaneering International, Inc.		49,560		3,291,280
Oil States International, Inc.*		3,100		252,867
RPC, Inc.		5,400		81,918
Schlumberger Ltd.		143,531		10,749,037
Weatherford International Ltd.*		295,470		3,587,006
				32,455,708
Oil, Gas & Consumable Fuels (2.7%)
Anadarko Petroleum Corp.		58,082		5,079,271
Apco Oil and Gas International, Inc.		1,200		14,880
Berry Petroleum Co., Class A		3,700		171,273
BPZ Resources, Inc.*		9,200		20,884
Cabot Oil & Gas Corp.		14,800		1,000,628
Cheniere Energy, Inc.*		14,600		408,800
Cimarex Energy Co.		18,100		1,365,464
Clean Energy Fuels Corp.*		4,600		59,800
Cobalt International Energy, Inc.*		12,100		341,220
Concho Resources, Inc.*		27,530		2,682,248
Contango Oil & Gas Co.		1,100		44,099
Continental Resources, Inc.*		3,000		260,790
CVR Energy, Inc.		6,000		309,720
Denbury Resources, Inc.*		201,627		3,760,343
Energy XXI Bermuda Ltd.		5,400		146,988
EOG Resources, Inc.		19,100		2,446,137
FX Energy, Inc.*		3,300		11,088
Golar LNG Ltd.		2,400		88,704
Gulfport Energy Corp.*		3,600		164,988
Isramco, Inc.*		200		19,828
Kinder Morgan, Inc.		177,463		6,864,269
Kosmos Energy Ltd.*		8,400		94,920
Laredo Petroleum Holdings, Inc.*		8,100		148,149
Noble Energy, Inc.		18,550		2,145,493
Northern Oil and Gas, Inc.*		1,700		24,446
Occidental Petroleum Corp.		12,040		943,575
Panhandle Oil and Gas, Inc., Class A		600		17,190
Pioneer Natural Resources Co.		13,900		1,727,075
Range Resources Corp.		32,367		2,623,021
Rosetta Resources, Inc.*		3,800		180,804
SM Energy Co.		3,700		219,114
Southwestern Energy Co.*		8,488		316,263
Suncor Energy, Inc.		37,170		1,115,472
VAALCO Energy, Inc.*		1,500		11,385
Valero Energy Corp.		71,120		3,235,249
W&T Offshore, Inc.		2,400		34,080
Warren Resources, Inc.*		4,700		15,087
Whiting Petroleum Corp.*		3,900		198,276
Williams Cos., Inc.		60,200		2,255,092
World Fuel Services Corp.		4,100		162,852
				40,728,965
Total Energy				73,184,673
Financials (4.8%)
Capital Markets (0.9%)
Affiliated Managers Group, Inc.*		3,700		568,209
BGC Partners, Inc., Class A		1,500		6,240
BlackRock, Inc.		4,775		1,226,602
Charles Schwab Corp.		113,930		2,015,422
Cohen & Steers, Inc.		800		28,856
Diamond Hill Investment Group, Inc.		200		15,562
Duff & Phelps Corp., Class A		2,100		32,571
Eaton Vance Corp.		10,011		418,760
Federated Investors, Inc., Class B		6,200		146,754
Franklin Resources, Inc.		11,815		1,781,820
GAMCO Investors, Inc., Class A		200		10,622
Greenhill & Co., Inc.		2,400		128,112
ICG Group, Inc.*		1,900		23,712
Lazard Ltd., Class A		6,900		235,497
LPL Financial Holdings, Inc.		4,400		141,856
Morgan Stanley		31,600		694,568
Pzena Investment Management, Inc., Class A		500		3,250
SEI Investments Co.		10,900		314,465
State Street Corp.		37,040		2,188,693
T. Rowe Price Group, Inc.		18,402		1,377,758
TD Ameritrade Holding Corp.		41,500		855,730
UBS AG*		60,358		928,910
Waddell & Reed Financial, Inc., Class A		7,500		328,350

See Notes to Portfolio of Investments.

18

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Westwood Holdings Group, Inc.		400	$	17,772
				13,490,091
Commercial Banks (0.5%)
Arrow Financial Corp.		973		23,975
Signature Bank/New York*		2,900		228,404
Wells Fargo & Co.		179,747		6,648,841
Westamerica Bancorp		1,978		89,663
				6,990,883
Consumer Finance (0.5%)
American Express Co.		114,244		7,706,900
EZCORP, Inc., Class A*		4,336		92,357
Portfolio Recovery Associates, Inc.*		1,811		229,852
				8,029,109
Diversified Financial Services (0.9%)
Citigroup, Inc.		184,423		8,158,874
IntercontinentalExchange, Inc.*		4,995		814,535
JPMorgan Chase & Co.		28,070		1,332,202
Leucadia National Corp.		7,200		197,496
McGraw-Hill Cos., Inc.		18,235		949,679
Moody’s Corp.		16,426		875,834
MSCI, Inc.*		8,741		296,582
				12,625,202
Insurance (0.6%)
Allied World Assurance Co. Holdings AG		2,000		185,440
American International Group, Inc.*		145,271		5,639,420
Aon plc		3,300		202,950
Arch Capital Group Ltd.*		4,200		220,794
Arthur J. Gallagher & Co.		8,300		342,873
Brown & Brown, Inc.		5,900		189,036
Erie Indemnity Co., Class A		2,200		166,166
Marsh & McLennan Cos., Inc.		30,300		1,150,491
Travelers Cos., Inc.		11,800		993,442
Validus Holdings Ltd.		5,000		186,850
				9,277,462
Real Estate Investment Trusts (REITs) (1.1%)
Acadia Realty Trust (REIT)		1,300		36,101
Alexander’s, Inc. (REIT)		100		32,969
American Campus Communities, Inc. (REIT)		3,500		158,690
American Tower Corp. (REIT)		70,798		5,445,782
Apartment Investment & Management Co. (REIT), Class A		6,600		202,356
Associated Estates Realty Corp. (REIT)		700		13,048
Boston Properties, Inc. (REIT)		1,800		181,908
BRE Properties, Inc. (REIT)		3,200		155,776
Camden Property Trust (REIT)		3,600		247,248
Digital Realty Trust, Inc. (REIT)		6,711		449,033
DuPont Fabros Technology, Inc. (REIT)		600		14,562
Equity Lifestyle Properties, Inc. (REIT)		1,900		145,920
Equity Residential (REIT)		3,000		165,180
Essex Property Trust, Inc. (REIT)		2,500		376,450
Extra Space Storage, Inc. (REIT)		5,300		208,131
Federal Realty Investment Trust (REIT)		3,000		324,120
HCP, Inc. (REIT)		3,700		184,482
Highwoods Properties, Inc. (REIT)		4,700		185,979
Home Properties, Inc. (REIT)		2,800		177,576
Kilroy Realty Corp. (REIT)		3,300		172,920
Mid-America Apartment Communities, Inc. (REIT)		2,700		186,462
Omega Healthcare Investors, Inc. (REIT)		7,400		224,664
Plum Creek Timber Co., Inc. (REIT)		11,300		589,860
Post Properties, Inc. (REIT)		3,200		150,720
Potlatch Corp. (REIT)		1,929		88,464
PS Business Parks, Inc. (REIT)		400		31,568
Public Storage (REIT)		10,030		1,527,770
Rayonier, Inc. (REIT)		8,700		519,129
Regency Centers Corp. (REIT)		3,800		201,058
Saul Centers, Inc. (REIT)		500		21,870
Simon Property Group, Inc. (REIT)		17,850		2,830,296
Tanger Factory Outlet Centers (REIT)		5,076		183,650
Taubman Centers, Inc. (REIT)		2,100		163,086
Universal Health Realty Income Trust (REIT)		900		51,939
Washington Real Estate Investment Trust (REIT)		547		15,228
Weyerhaeuser Co. (REIT)		11,100		348,318
				16,012,313
Real Estate Management & Development (0.1%)
CBRE Group, Inc., Class A*		23,591		595,673
Tejon Ranch Co.*		900		26,802
Zillow, Inc., Class A*		24,670		1,348,709
				1,971,184
Thrifts & Mortgage Finance (0.2%)
Astoria Financial Corp.		174,000		1,715,640
New York Community Bancorp, Inc.		112,500		1,614,375
People’s United Financial, Inc.		11,600		155,904
				3,485,919
Total Financials				71,882,163
Health Care (14.3%)
Biotechnology (6.6%)
Affymax, Inc.*		900		1,251
Alexion Pharmaceuticals, Inc.*		21,896		2,017,497
Alnylam Pharmaceuticals, Inc.*		4,300		104,791
AMAG Pharmaceuticals, Inc.*		2,000		47,700
Amgen, Inc.		98,805		10,128,501
Arena Pharmaceuticals, Inc.*		7,588		62,297
ARIAD Pharmaceuticals, Inc.*		11,600		209,844
ArQule, Inc.*		3,300		8,547
Array BioPharma, Inc.*		3,900		19,188
BioCryst Pharmaceuticals, Inc.*		2,500		2,975
Biogen Idec, Inc.*		109,236		21,072,717
BioMarin Pharmaceutical, Inc.*		7,200		448,272
Celgene Corp.*		168,094		19,483,776
Celldex Therapeutics, Inc.*		1,200		13,896
Cepheid, Inc.*		153,144		5,876,135
Cubist Pharmaceuticals, Inc.*		4,400		206,008
Curis, Inc.*		197,830		648,882
Cytori Therapeutics, Inc.*		1,700		4,267
Dendreon Corp.*		11,619		54,958
Dyax Corp.*		4,500		19,620
Emergent Biosolutions, Inc.*		2,300		32,154
Exelixis, Inc.*		12,700		58,674
Genomic Health, Inc.*		1,100		31,108
Gilead Sciences, Inc.*		360,386		17,633,687
Halozyme Therapeutics, Inc.*		8,500		49,045
Idenix Pharmaceuticals, Inc.*		2,000		7,120
ImmunoGen, Inc.*		17,300		277,838
Immunomedics, Inc.*		5,300		12,773
Incyte Corp.*		6,200		145,142
InterMune, Inc.*		4,700		42,535
Isis Pharmaceuticals, Inc.*		39,560		670,146

See Notes to Portfolio of Investments.

19

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Lexicon Pharmaceuticals, Inc.*		1,900	$	4,142
Ligand Pharmaceuticals, Inc., Class B*		1,383		36,857
MannKind Corp.*		4,949		16,777
Medivation, Inc.*		6,800		318,036
Momenta Pharmaceuticals, Inc.*		4,500		60,030
Neurocrine Biosciences, Inc.*		3,100		37,634
Novavax, Inc.*		4,700		10,716
NPS Pharmaceuticals, Inc.*		3,800		38,722
Onyx Pharmaceuticals, Inc.*		4,500		399,870
Opko Health, Inc.*		3,900		29,757
Orexigen Therapeutics, Inc.*		1,600		10,000
Osiris Therapeutics, Inc.*		1,200		12,480
PDL BioPharma, Inc.		14,400		105,264
Pharmacyclics, Inc.*		38,800		3,119,908
Progenics Pharmaceuticals, Inc.*		2,200		11,858
Regeneron Pharmaceuticals, Inc.*		61,500		10,848,600
Rigel Pharmaceuticals, Inc.*		3,000		20,370
Sangamo BioSciences, Inc.*		3,000		28,680
Seattle Genetics, Inc.*		9,600		340,896
SIGA Technologies, Inc.*		2,771		9,920
Spectrum Pharmaceuticals, Inc.		3,469		25,879
Synta Pharmaceuticals Corp.*		1,400		12,040
United Therapeutics Corp.*		4,142		252,124
Vanda Pharmaceuticals, Inc.*		2,614		10,247
Vertex Pharmaceuticals, Inc.*		61,120		3,360,378
Vical, Inc.*		6,900		27,462
				98,539,991
Health Care Equipment & Supplies (2.1%)
Abaxis, Inc.		2,700		127,764
Abbott Laboratories		104,391		3,687,090
ABIOMED, Inc.*		2,800		52,276
Accuray, Inc.*		3,410		15,823
Align Technology, Inc.*		7,000		234,570
Analogic Corp.		1,100		86,922
Atrion Corp.		100		19,199
Baxter International, Inc.		36,514		2,652,377
Becton, Dickinson and Co.		13,225		1,264,442
C.R. Bard, Inc.		6,053		610,021
Cerus Corp.*		709,970		3,138,067
Conceptus, Inc.*		3,800		91,770
Cooper Cos., Inc.		17,650		1,904,082
Covidien plc		38,795		2,631,853
Cyberonics, Inc.*		3,500		163,835
DENTSPLY International, Inc.		4,200		178,164
DexCom, Inc.*		5,033		84,152
Edwards Lifesciences Corp.*		16,796		1,379,959
Endologix, Inc.*		5,900		95,285
Exactech, Inc.*		600		12,414
Given Imaging Ltd.*		132,689		2,169,465
Hansen Medical, Inc.*		1,400		2,814
HeartWare International, Inc.*		800		70,744
ICU Medical, Inc.*		1,176		69,325
IDEXX Laboratories, Inc.*		5,000		461,950
Insulet Corp.*		3,600		93,096
Integra LifeSciences Holdings Corp.*		2,300		89,723
Intuitive Surgical, Inc.*		11,868		5,829,443
MAKO Surgical Corp.*		2,600		28,990
Medtronic, Inc.		4,452		209,066
Merit Medical Systems, Inc.*		4,500		55,170
Natus Medical, Inc.*		2,200		29,568
Neogen Corp.*		1,800		89,226
NxStage Medical, Inc.*		1,200		13,536
OraSure Technologies, Inc.*		3,600		19,440
Orthofix International N.V.*		1,609		57,715
Quidel Corp.*		2,300		54,625
ResMed, Inc.		13,000		602,680
RTI Biologics, Inc.*		4,400		17,336
Sirona Dental Systems, Inc.*		4,000		294,920
Spectranetics Corp.*		2,600		48,178
St. Jude Medical, Inc.		16,911		683,881
Stryker Corp.		15,943		1,040,121
Thoratec Corp.*		4,700		176,250
Varian Medical Systems, Inc.*		8,313		598,536
Volcano Corp.*		2,500		55,650
Wright Medical Group, Inc.*		8,291		197,409
Zimmer Holdings, Inc.		2,500		188,050
				31,676,972
Health Care Providers & Services (1.4%)
Air Methods Corp.		2,700		130,248
AmerisourceBergen Corp.		17,699		910,614
AMN Healthcare Services, Inc.*		2,600		41,158
Bio-Reference Labs, Inc.*		1,800		46,764
BioScrip, Inc.*		4,447		56,521
Cardinal Health, Inc.		50,100		2,085,162
Catamaran Corp.*		28,608		1,517,082
Corvel Corp.*		700		34,643
DaVita HealthCare Partners, Inc.*		6,831		810,088
Emeritus Corp.*		1,600		44,464
Ensign Group, Inc.		1,800		60,120
Express Scripts Holding Co.*		71,060		4,096,609
HCA Holdings, Inc.		5,800		235,654
Henry Schein, Inc.*		3,517		325,498
IPC The Hospitalist Co., Inc.*		1,517		67,476
Laboratory Corp. of America Holdings*		7,381		665,766
Landauer, Inc.		400		22,552
McKesson Corp.		34,758		3,752,474
MWI Veterinary Supply, Inc.*		1,400		185,164
National Research Corp.		100		5,804
Patterson Cos., Inc.		6,100		232,044
Providence Service Corp.*		800		14,792
Quest Diagnostics, Inc.		2,713		153,149
Tenet Healthcare Corp.*		7,875		374,693
U.S. Physical Therapy, Inc.		1,000		26,850
UnitedHealth Group, Inc.		92,395		5,285,918
Universal Health Services, Inc., Class B		6,434		410,940
WellPoint, Inc.		2,200		145,706
				21,737,953
Health Care Technology (0.4%)
athenahealth, Inc.*		48,051		4,662,869
Cerner Corp.*		11,600		1,099,100
Computer Programs & Systems, Inc.		1,300		70,343
HMS Holdings Corp.*		6,000		162,900
MedAssets, Inc.*		4,765		91,726
Omnicell, Inc.*		2,500		47,200
Quality Systems, Inc.		3,800		69,464
				6,203,602
Life Sciences Tools & Services (1.1%)
Agilent Technologies, Inc.		24,626		1,033,553
Charles River Laboratories International, Inc.*		300		13,281
Compugen Ltd.*		163,025		828,167
Covance, Inc.*		5,491		408,091
Fluidigm Corp.*		111,060		2,055,721
Illumina, Inc.*		131,857		7,120,278
Life Technologies Corp.*		2,892		186,910
Luminex Corp.*		5,000		82,600
Mettler-Toledo International, Inc.*		2,900		618,338

See Notes to Portfolio of Investments.

20

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
PerkinElmer, Inc.		40,280	$	1,355,019
Sequenom, Inc.*		4,900		20,335
Techne Corp.		3,200		217,120
Thermo Fisher Scientific, Inc.		27,790		2,125,657
Waters Corp.*		6,500		610,415
				16,675,485
Pharmaceuticals (2.7%)
AbbVie, Inc.		104,391		4,257,065
Actavis, Inc.*		18,460		1,700,351
Acura Pharmaceuticals, Inc.*		700		1,491
Akorn, Inc.*		4,600		63,618
Allergan, Inc.		21,544		2,404,957
Bristol-Myers Squibb Co.		344,791		14,201,941
Cadence Pharmaceuticals, Inc.*		2,900		19,401
Depomed, Inc.*		4,100		24,067
Eli Lilly and Co.		26,127		1,483,752
Endo Health Solutions, Inc.*		8,300		255,308
Forest Laboratories, Inc.*		116,595		4,435,274
Forest Laboratories, Inc. (Contingent Value Shares)(b)*†		900		855
Impax Laboratories, Inc.*		5,689		87,838
Johnson & Johnson		43,230		3,524,542
Medicines Co.*		4,200		140,364
Merck & Co., Inc.		44,950		1,988,139
Mylan, Inc.*		28,265		817,989
Obagi Medical Products, Inc.*		1,400		27,650
Optimer Pharmaceuticals, Inc.*		3,700		44,030
Pain Therapeutics, Inc.*		2,800		9,604
Perrigo Co.		6,900		819,237
Pozen, Inc.*		2,100		11,067
Questcor Pharmaceuticals, Inc.		4,100		133,414
Salix Pharmaceuticals Ltd.*		4,100		209,838
Santarus, Inc.*		5,801		100,531
Sciclone Pharmaceuticals, Inc.*		5,800		26,680
Sucampo Pharmaceuticals, Inc., Class A*		700		4,578
Teva Pharmaceutical Industries Ltd. (ADR)		14,700		583,296
Valeant Pharmaceuticals International, Inc.*		34,950		2,621,949
Vivus, Inc.*		8,400		92,400
Warner Chilcott plc, Class A		71,490		968,689
XenoPort, Inc.*		3,500		25,025
Zoetis, Inc.*		4,840		161,656
				41,246,596
Total Health Care				216,080,599
Industrials (8.5%)
Aerospace & Defense (2.4%)
Aerovironment, Inc.*		1,700		30,821
B/E Aerospace, Inc.*		6,500		391,885
Boeing Co.		69,599		5,975,074
Cubic Corp.		1,439		61,474
DigitalGlobe, Inc.*		1,478		42,729
GenCorp, Inc.*		4,600		61,180
HEICO Corp.		3,750		162,787
Hexcel Corp.*		7,000		203,070
Honeywell International, Inc.		55,971		4,217,415
L-3 Communications Holdings, Inc.		29,065		2,351,940
Lockheed Martin Corp.		17,168		1,657,055
National Presto Industries, Inc.		459		36,950
Precision Castparts Corp.		53,766		10,195,109
Rockwell Collins, Inc.		10,989		693,626
Spirit AeroSystems Holdings, Inc., Class A*		3,446		65,440
Taser International, Inc.*		5,100		40,545
Teledyne Technologies, Inc.*		1,000		78,440
Textron, Inc.		6,100		181,841
TransDigm Group, Inc.		3,472		530,938
United Technologies Corp.		92,737		8,664,418
				35,642,737
Air Freight & Logistics (0.5%)
C.H. Robinson Worldwide, Inc.		11,711		696,336
Expeditors International of Washington, Inc.		15,083		538,614
FedEx Corp.		10,100		991,820
Forward Air Corp.		1,173		43,741
Hub Group, Inc., Class A*		1,900		73,074
United Parcel Service, Inc., Class B		52,348		4,496,693
				6,840,278
Airlines (0.2%)
Alaska Air Group, Inc.*		4,700		300,612
Allegiant Travel Co.		1,415		125,624
Copa Holdings S.A., Class A		400		47,844
Delta Air Lines, Inc.*		36,141		596,688
Southwest Airlines Co.		13,800		186,024
United Continental Holdings, Inc.*		59,252		1,896,656
				3,153,448
Building Products (0.1%)
AAON, Inc.		1,650		45,523
Armstrong World Industries, Inc.*		1,200		67,068
Fortune Brands Home & Security, Inc.*		6,800		254,524
Masco Corp.		25,475		515,869
Trex Co., Inc.*		1,900		93,442
USG Corp.*		600		15,864
				992,290
Commercial Services & Supplies (0.4%)
ADT Corp.		22,592		1,105,652
ARC Document Solutions, Inc.*		3,000		8,940
Cintas Corp.		4,200		185,346
Clean Harbors, Inc.*		3,400		197,506
Copart, Inc.*		11,538		395,523
Covanta Holding Corp.		200		4,030
Deluxe Corp.		3,500		144,900
EnerNOC, Inc.*		1,185		20,583
Healthcare Services Group, Inc.		7,800		199,914
InnerWorkings, Inc.*		2,600		39,364
Interface, Inc.		4,300		82,646
Iron Mountain, Inc.		10,771		391,095
Knoll, Inc.		6,000		108,780
Mine Safety Appliances Co.		2,266		112,439
Multi-Color Corp.		800		20,632
Rollins, Inc.		7,000		171,850
Standard Parking Corp.*		500		10,350
Stericycle, Inc.*		7,300		775,114
Team, Inc.*		1,500		61,605
Tyco International Ltd.		45,185		1,445,920
U.S. Ecology, Inc.		1,300		34,515
Waste Connections, Inc.		7,756		279,061
				5,795,765
Construction & Engineering (0.1%)
Chicago Bridge & Iron Co. N.V. (N.Y. Shares)		4,000		248,400
Fluor Corp.		30,250		2,006,483
MYR Group, Inc.*		1,650		40,524
				2,295,407
Electrical Equipment (0.4%)
Acuity Brands, Inc.		2,600		180,310

See Notes to Portfolio of Investments.

21

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
AMETEK, Inc.		20,715	$	898,203
AZZ, Inc.		2,298		110,764
Babcock & Wilcox Co.		9,264		263,190
Eaton Corp. plc		5,965		365,356
Emerson Electric Co.		43,154		2,411,014
General Cable Corp.*		400		14,652
Hubbell, Inc., Class B		3,400		330,174
II-VI, Inc.*		4,400		74,976
Polypore International, Inc.*		2,800		112,504
Rockwell Automation, Inc.		9,900		854,865
Roper Industries, Inc.		7,172		913,067
Vicor Corp.*		1,600		7,952
				6,537,027
Industrial Conglomerates (0.7%)
3M Co.		44,668		4,748,655
Carlisle Cos., Inc.		1,675		113,549
Danaher Corp.		89,308		5,550,492
Raven Industries, Inc.		2,600		87,386
				10,500,082
Machinery (2.3%)
Actuant Corp., Class A		3,923		120,122
Caterpillar, Inc.		45,670		3,971,920
CLARCOR, Inc.		2,298		120,369
Colfax Corp.*		1,700		79,118
Cummins, Inc.		90,429		10,472,582
Deere & Co.		29,867		2,567,965
Donaldson Co., Inc.		13,200		477,708
Dynamic Materials Corp.		1,000		17,400
ExOne Co.*		8,697		291,350
Flow International Corp.*		3,100		12,121
Flowserve Corp.		3,393		569,040
Gorman-Rupp Co.		1,500		45,075
Graco, Inc.		4,610		267,518
Graham Corp.		800		19,792
IDEX Corp.		5,600		299,152
Illinois Tool Works, Inc.		28,100		1,712,414
Ingersoll-Rand plc		18,700		1,028,687
Joy Global, Inc.		7,933		472,172
Lincoln Electric Holdings, Inc.		5,900		319,662
Lindsay Corp.		1,000		88,180
Manitowoc Co., Inc.		2,900		59,624
Met-Pro Corp.		1,200		12,396
Nordson Corp.		4,920		324,474
Omega Flex, Inc.		300		5,157
PACCAR, Inc.		24,208		1,223,956
Pall Corp.		34,245		2,341,331
Parker Hannifin Corp.		4,800		439,584
Pentair Ltd. (Registered)		10,841		571,863
Proto Labs, Inc.*		46,132		2,265,081
RBC Bearings, Inc.*		1,800		91,008
Sauer-Danfoss, Inc.		800		46,744
Snap-on, Inc.		2,400		198,480
SPX Corp.		2,200		173,712
Stanley Black & Decker, Inc.		21,930		1,775,672
Sun Hydraulics Corp.		1,350		43,889
Tennant Co.		2,300		111,688
Timken Co.		4,500		254,610
Toro Co.		4,200		193,368
Valmont Industries, Inc.		1,600		251,632
WABCO Holdings, Inc.*		4,600		324,714
Wabtec Corp.		3,400		347,174
Woodward, Inc.		4,800		190,848
Xylem, Inc.		6,200		170,872
				34,370,224
Marine (0.0%)
Kirby Corp.*		1,037		79,642
Professional Services (0.2%)
Acacia Research Corp.*		3,307		99,772
Advisory Board Co.*		2,600		136,552
CDI Corp.		100		1,720
Dun & Bradstreet Corp.		4,249		355,429
Equifax, Inc.		7,600		437,684
Exponent, Inc.		1,800		97,092
Huron Consulting Group, Inc.*		2,700		108,864
IHS, Inc., Class A*		4,130		432,494
Insperity, Inc.		2,600		73,762
Nielsen Holdings N.V.		15,480		554,494
Robert Half International, Inc.		13,212		495,846
Verisk Analytics, Inc., Class A*		9,800		603,974
				3,397,683
Road & Rail (0.9%)
Avis Budget Group, Inc.*		6,628		184,457
Celadon Group, Inc.		2,003		41,783
Con-way, Inc.		2,020		71,124
CSX Corp.		49,200		1,211,796
Genesee & Wyoming, Inc., Class A*		2,800		260,708
Heartland Express, Inc.		2,800		37,352
Hertz Global Holdings, Inc.*		17,400		387,324
J.B. Hunt Transport Services, Inc.		7,723		575,209
Kansas City Southern		5,000		554,500
Landstar System, Inc.		3,300		188,397
Old Dominion Freight Line, Inc.*		856		32,699
Union Pacific Corp.		70,520		10,042,753
				13,588,102
Trading Companies & Distributors (0.3%)
Beacon Roofing Supply, Inc.*		3,481		134,575
Fastenal Co.		45,008		2,311,161
Houston Wire & Cable Co.		1,400		18,130
Kaman Corp.		2,098		74,416
MSC Industrial Direct Co., Inc.,
Class A		3,700		317,386
TAL International Group, Inc.		300		13,593
Titan Machinery, Inc.*		600		16,650
United Rentals, Inc.*		6,600		362,802
W.W. Grainger, Inc.		4,102		922,868
				4,171,581
Total Industrials				127,364,266
Information Technology (28.5%)
Communications Equipment (2.7%)
Acme Packet, Inc.*		3,800		111,036
ADTRAN, Inc.		4,400		86,460
Anaren, Inc.*		1,339		25,963
Arris Group, Inc.*		27,371		469,960
Aruba Networks, Inc.*		246,500		6,098,410
Ciena Corp.*		2,836		45,404
Cisco Systems, Inc.		52,740		1,102,793
F5 Networks, Inc.*		6,800		605,744
Harris Corp.		3,369		156,120
Infinera Corp.*		10,300		72,100
InterDigital, Inc.		3,100		148,273
Ixia*		257,400		5,570,136
Juniper Networks, Inc.*		100,500		1,863,270
Loral Space & Communications, Inc.		1,058		65,469
Motorola Solutions, Inc.		20,400		1,306,212
NETGEAR, Inc.*		500		16,755
Palo Alto Networks, Inc.*		113,000		6,395,800

See Notes to Portfolio of Investments.

22

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
QUALCOMM, Inc.		234,261	$	15,683,774
Riverbed Technology, Inc.*		11,177		166,649
ShoreTel, Inc.*		3,000		10,890
ViaSat, Inc.*		2,361		114,367
				40,115,585
Computers & Peripherals (4.6%)
3D Systems Corp.*		3,900		125,736
Apple, Inc.		96,752		42,825,338
EMC Corp.*		205,947		4,920,074
Fusion-io, Inc.*		321,156		5,257,324
Immersion Corp.*		1,200		14,088
NCR Corp.*		11,360		313,081
NetApp, Inc.*		17,100		584,136
SanDisk Corp.*		79,615		4,378,825
Seagate Technology plc		70,125		2,563,770
Silicon Graphics International Corp.*		297,077		4,084,809
Stratasys Ltd.*		42,820		3,178,100
Super Micro Computer, Inc.*		1,600		18,064
Western Digital Corp.		6,700		336,876
				68,600,221
Electronic Equipment, Instruments & Components (0.4%)
Amphenol Corp., Class A		11,360		848,024
Anixter International, Inc.		200		13,984
Badger Meter, Inc.		1,800		96,336
Cognex Corp.		607		25,585
Daktronics, Inc.		2,700		28,350
Dolby Laboratories, Inc., Class A		21,200		711,472
DTS, Inc.*		1,400		23,282
Echelon Corp.*		2,400		5,856
FARO Technologies, Inc.*		1,400		60,746
FEI Co.		4,106		265,042
FLIR Systems, Inc.		12,888		335,217
IPG Photonics Corp.		1,600		106,256
Jabil Circuit, Inc.		11,300		208,824
Maxwell Technologies, Inc.*		1,500		8,085
MTS Systems Corp.		500		29,075
Multi-Fineline Electronix, Inc.*		1,300		20,059
National Instruments Corp.		6,500		212,875
OSI Systems, Inc.*		1,000		62,290
Plexus Corp.*		1,118		27,179
TE Connectivity Ltd.		49,780		2,087,275
Trimble Navigation Ltd.*		20,600		617,176
Universal Display Corp.*		2,300		67,597
				5,860,585
Internet Software & Services (5.9%)
Akamai Technologies, Inc.*		33,219		1,172,299
AOL, Inc.*		5,900		227,091
Baidu, Inc. (ADR)*		7,000		613,900
Blucora, Inc.*		1,600		24,768
comScore, Inc.*		1,500		25,170
Constant Contact, Inc.*		2,900		37,642
Cornerstone OnDemand, Inc.*		60,343		2,057,696
CoStar Group, Inc.*		2,488		272,336
Dealertrack Technologies, Inc.*		4,700		138,086
Dice Holdings, Inc.*		1,300		13,169
eBay, Inc.*		258,071		13,992,610
Equinix, Inc.*		18,454		3,991,785
Facebook, Inc., Class A*		207,005		5,295,188
Google, Inc., Class A*		52,850		41,964,485
IAC/InterActiveCorp.		3,400		151,912
j2 Global, Inc.		4,900		192,129
LinkedIn Corp., Class A*		64,592		11,372,068
Liquidity Services, Inc.*		1,200		35,772
LivePerson, Inc.*		5,500		74,690
Move, Inc.*		4,800		57,360
NIC, Inc.		6,200		118,792
Rackspace Hosting, Inc.*		58,720		2,964,186
Stamps.com, Inc.*		1,100		27,467
support.com, Inc.*		2,600		10,868
VeriSign, Inc.*		10,200		482,256
Vocus, Inc.*		1,300		18,395
XO Group, Inc.*		2,300		23,000
Yelp, Inc.*		149,433		3,543,056
Zix Corp.*		9,600		34,368
				88,932,544
IT Services (3.9%)
Accenture plc, Class A		101,464		7,708,220
Alliance Data Systems Corp.*		4,580		741,456
Automatic Data Processing, Inc.		35,659		2,318,548
Broadridge Financial Solutions, Inc.		12,969		322,150
CACI International, Inc., Class A*		500		28,935
Cardtronics, Inc.*		1,000		27,460
Cass Information Systems, Inc.		605		25,434
Cognizant Technology Solutions Corp., Class A*		46,124		3,533,560
CSG Systems International, Inc.*		1,500		31,785
DST Systems, Inc.		700		49,889
ExlService Holdings, Inc.*		1,200		39,456
Fiserv, Inc.*		8,409		738,563
FleetCor Technologies, Inc.*		4,100		314,347
Forrester Research, Inc.		1,300		41,145
Gartner, Inc.*		5,200		282,932
Genpact Ltd.		9,900		180,081
Global Payments, Inc.		7,000		347,620
Hackett Group, Inc.		3,300		15,081
Heartland Payment Systems, Inc.		4,700		154,959
iGATE Corp.*		1,800		33,858
International Business Machines Corp.		76,274		16,269,244
Jack Henry & Associates, Inc.		9,701		448,283
Lionbridge Technologies, Inc.*		9,400		36,378
Mastercard, Inc., Class A		11,658		6,308,494
MAXIMUS, Inc.		2,930		234,312
MoneyGram International, Inc.*		1,287		23,295
NeuStar, Inc., Class A*		1,600		74,448
Paychex, Inc.		21,172		742,502
SAIC, Inc.		9,236		125,148
Teradata Corp.*		12,485		730,497
Total System Services, Inc.		9,700		240,366
Vantiv, Inc., Class A*		6,500		154,310
VeriFone Systems, Inc.*		6,100		126,148
Virtusa Corp.*		500		11,880
Visa, Inc., Class A		89,622		15,221,401
Western Union Co.		47,559		715,287
WEX, Inc.*		2,700		211,950
				58,609,422
Office Electronics (0.0%)
Zebra Technologies Corp., Class A* .		3,900		183,807
Semiconductors & Semiconductor Equipment (2.5%)
Advanced Micro Devices, Inc.*		43,800		111,690
Altera Corp.		25,174		892,922
Analog Devices, Inc.		4,099		190,562
Applied Micro Circuits Corp.*		161,750		1,200,185
ASML Holding N.V		23,050		1,567,630
Atmel Corp.*		125,900		876,264
ATMI, Inc.*		782		17,540
Avago Technologies Ltd.		16,100		578,312

See Notes to Portfolio of Investments.

23

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Broadcom Corp., Class A		162,781	$	5,643,617
Cabot Microelectronics Corp.*		212		7,367
CEVA, Inc.*		1,200		18,720
Cree, Inc.*		40,245		2,201,804
Cypress Semiconductor Corp.*		13,400		147,802
Exar Corp.*		300		3,150
GT Advanced Technologies, Inc.*		1,700		5,593
Intel Corp.		314,295		6,867,346
Lam Research Corp.*		4,459		184,870
Linear Technology Corp.		19,142		734,479
LSI Corp.*		39,800		269,844
Maxim Integrated Products, Inc.		10,186		332,573
Mellanox Technologies Ltd.*		75,506		4,191,338
MEMC Electronic Materials, Inc.*		2,100		9,240
Micrel, Inc.		427		4,488
Microchip Technology, Inc.		14,581		535,998
Monolithic Power Systems, Inc.		4,055		98,820
NVE Corp.*		400		22,568
NVIDIA Corp.		484,213		6,207,611
NXP Semiconductor N.V.*		40,350		1,220,991
Power Integrations, Inc.		2,800		121,548
Rambus, Inc.*		9,000		50,490
Skyworks Solutions, Inc.*		14,994		330,318
Teradyne, Inc.*		10,600		171,932
Texas Instruments, Inc.		52,471		1,861,671
Ultratech, Inc.*		1,900		75,107
Veeco Instruments, Inc.*		2,300		88,159
Volterra Semiconductor Corp.*		2,100		29,820
Xilinx, Inc.		18,300		698,511
				37,570,880
Software (8.5%)
Actuate Corp.*		4,900		29,400
Adobe Systems, Inc.*		19,937		867,459
Advent Software, Inc.*		2,800		78,316
American Software, Inc., Class A		1,200		9,984
ANSYS, Inc.*		7,541		613,988
Autodesk, Inc.*		42,961		1,771,712
Blackbaud, Inc.		5,000		148,150
BMC Software, Inc.*		12,595		583,526
Bottomline Technologies (de), Inc.* .		2,617		74,611
CA, Inc.		5,900		148,503
Cadence Design Systems, Inc.*		19,100		266,063
Check Point Software Technologies Ltd.*		20,890		981,621
Citrix Systems, Inc.*		31,392		2,265,247
CommVault Systems, Inc.*		124,100		10,173,718
Compuware Corp.*		2,800		35,000
Concur Technologies, Inc.*		2,900		199,114
Ebix, Inc.		1,500		24,330
EPIQ Systems, Inc.		3,002		42,118
FactSet Research Systems, Inc.		3,600		333,360
FalconStor Software, Inc.*		3,100		8,308
Fortinet, Inc.*		8,500		201,280
Guidewire Software, Inc.*		64,580		2,482,455
Infoblox, Inc.*		37,200		807,240
Informatica Corp.*		7,600		261,972
Interactive Intelligence Group, Inc.* .		1,100		48,785
Intuit, Inc.		48,507		3,184,484
Manhattan Associates, Inc.*		2,000		148,580
Mentor Graphics Corp.		500		9,025
MICROS Systems, Inc.*		6,900		314,019
Microsoft Corp.#		559,439		16,005,550
NetScout Systems, Inc.*		2,000		49,140
NetSuite, Inc.*		167,482		13,408,609
Nuance Communications, Inc.*		32,000		645,760
Oracle Corp.		321,744		10,405,201
Pegasystems, Inc.		1,900		53,352
PROS Holdings, Inc.*		1,000		27,170
PTC, Inc.*		13,400		341,566
QLIK Technologies, Inc.*		173,300		4,476,339
Red Hat, Inc.*		146,323		7,398,091
Rovi Corp.*		8,538		182,798
Salesforce.com, Inc.*		89,494		16,004,212
SolarWinds, Inc.*		206,926		12,229,327
Solera Holdings, Inc.		5,945		346,772
Sourcefire, Inc.*		93,400		5,532,082
Splunk, Inc.*		245,794		9,839,134
Symantec Corp.*		10,500		259,140
Synchronoss Technologies, Inc.*		1,700		52,751
Synopsys, Inc.*		6,100		218,868
Take-Two Interactive Software, Inc.*		890		14,373
TIBCO Software, Inc.*		35,247		712,694
Tyler Technologies, Inc.*		3,100		189,906
Ultimate Software Group, Inc.*		1,900		197,904
VASCO Data Security International, Inc.*		2,200		18,568
VMware, Inc., Class A*		6,085		479,985
Websense, Inc.*		5,300		79,500
Workday, Inc., Class A*		50,500		3,112,315
Zynga, Inc., Class A*		26,200		88,032
				128,481,507
Total Information Technology				428,354,551
Materials (3.1%)
Chemicals (2.3%)
Airgas, Inc.		4,800		475,968
Albemarle Corp.		3,549		221,884
Balchem Corp.		2,250		98,865
Calgon Carbon Corp.*		6,600		119,460
Celanese Corp.		13,324		586,922
CF Industries Holdings, Inc.		1,018		193,797
E.I. du Pont de Nemours & Co.		66,058		3,247,411
Eastman Chemical Co.		11,244		785,618
Ecolab, Inc.		37,954		3,043,152
FMC Corp.		21,092		1,202,877
Hawkins, Inc.		891		35,595
International Flavors & Fragrances, Inc.		6,400		490,688
Koppers Holdings, Inc.		1,245		54,755
LSB Industries, Inc.*		2,300		79,994
LyondellBasell Industries N.V., Class A		3,800		240,502
Monsanto Co.		123,101		13,003,159
OMNOVA Solutions, Inc.*		5,500		42,185
PPG Industries, Inc.		17,550		2,350,647
Praxair, Inc.		33,419		3,727,555
Rockwood Holdings, Inc.		4,600		301,024
Sherwin-Williams Co.		13,073		2,207,899
Sigma-Aldrich Corp.		7,911		614,526
Valspar Corp.		6,500		404,625
W.R. Grace & Co.*		4,701		364,375
Westlake Chemical Corp.		3,000		280,500
Zep, Inc.		1,700		25,517
				34,199,500
Construction Materials (0.0%)
Eagle Materials, Inc.		5,974		398,047
Martin Marietta Materials, Inc.		1,900		193,838
United States Lime & Minerals, Inc.*		100		5,319
				597,204

See Notes to Portfolio of Investments.

24

AXA PREMIER VIP TRUST

MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Containers & Packaging (0.1%)
AEP Industries, Inc.*		400	$	28,724
Ball Corp.		12,000		570,960
Crown Holdings, Inc.*		4,500		187,245
Owens-Illinois, Inc.*		8,500		226,525
Packaging Corp. of America		6,600		296,142
Rock-Tenn Co., Class A		4,900		454,671
				1,764,267
Metals & Mining (0.6%)
AK Steel Holding Corp.		400		1,324
Allied Nevada Gold Corp.*		6,400		105,344
AMCOL International Corp.		700		21,133
Barrick Gold Corp.		68,350		2,009,490
Carpenter Technology Corp.		3,100		152,799
Compass Minerals International, Inc.		2,700		213,030
Freeport-McMoRan Copper & Gold, Inc.		124,702		4,127,636
Molycorp, Inc.*		4,000		20,800
Nucor Corp.		30,300		1,398,345
Royal Gold, Inc.		3,878		275,454
Southern Copper Corp.		8,503		319,458
Steel Dynamics, Inc.		11,300		179,331
				8,824,144
Paper & Forest Products (0.1%)
Deltic Timber Corp.		900		61,848
International Paper Co.		24,410		1,137,018
				1,198,866
Total Materials				46,583,981
Telecommunication Services (1.1%)
Diversified Telecommunication Services (0.8%)
Cogent Communications Group, Inc.		8,300		219,120
Consolidated Communications Holdings, Inc.		700		12,285
Level 3 Communications, Inc.*		7,200		146,088
Lumos Networks Corp.		1,900		25,612
tw telecom, Inc.*		12,703		319,989
Verizon Communications, Inc.		218,850		10,756,477
Windstream Corp.		20,141		160,121
				11,639,692
Wireless Telecommunication Services (0.3%)
Crown Castle International Corp.*		54,817		3,817,456
NTELOS Holdings Corp.		1,900		24,339
SBA Communications Corp., Class A*		10,100		727,402
				4,569,197
Total Telecommunication Services				16,208,889
Utilities (0.1%)
Electric Utilities (0.0%)
ITC Holdings Corp.		3,600		321,336
Gas Utilities (0.1%)
ONEOK, Inc.		14,600		695,982
Questar Corp.		7,700		187,341
				883,323
Total Utilities				1,204,659
Total Common Stocks (88.2%) (Cost $931,145,123)				1,327,077,105
	Principal Amount		Value (Note 1)
LONG-TERM DEBT SECURITIES:
Corporate Bond (0.0%)
Financials (0.0%)
Capital Markets (0.0%)
GAMCO Investors, Inc. (Zero Coupon), 12/31/15	$	600	$	552
Total Financials				552
Total Corporate Bonds				552
Total Long-Term Debt Securities (0.0%) (Cost $600)				552
	Number of Rights		Value (Note 1)
RIGHTS:
Health Care (0.0%)
Biotechnology (0.0%)
Celgene Corp., expiring 12/31/30*		700		4,949
Health Care Equipment & Supplies (0.0%)
Wright Medical Group, Inc.,expiring 3/1/19*		33,407		83,518
Total Rights (0.0%) (Cost $3,710)				88,467
	Principal Amount		Value (Note 1)
SHORT-TERM INVESTMENT:
Government Securities (1.9%)
U.S. Treasury Bills
0.09%, 5/2/13#(p)	$	28,030,000		28,027,711
Total Government Securities				28,027,711
Total Short-Term Investments (1.9%) (Cost $28,026,621)				28,027,711
Total Investments (90.1%) (Cost $959,176,054)				1,355,193,835
Other Assets Less Liabilities (9.9%)				149,284,455
Net Assets (100%)			$	1,504,478,290

* Non-income producing.

† Securities (totaling $855 or 0.0% of net assets) at fair value by management.

# All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $28,771,571.

(b) Illiquid Security.

(p) Yield to maturity.

Glossary:

ADR — American Depositary Receipt

See Notes to Portfolio of Investments.

25

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MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Purchases
NASDAQ 100 E-Mini Index		745		June-13	$	41,048,484	$	41,883,900	$	835,416
S&P 500 E-Mini Index		1,169		June-13		88,864,320		91,339,815		2,475,495
S&P MidCap 400 E-Mini Index		294		June-13		32,313,997		33,839,400		1,525,403
									$	4,836,314

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	253,928,921	$	—	$	—	$	253,928,921
Consumer Staples		92,284,403		—		—		92,284,403
Energy		73,184,673		—		—		73,184,673
Financials		71,882,163		—		—		71,882,163
Health Care		216,079,744		—		855		216,080,599
Industrials		127,364,266		—		—		127,364,266
Information Technology		428,354,551		—		—		428,354,551
Materials		46,583,981		—		—		46,583,981
Telecommunication Services		16,208,889		—		—		16,208,889
Utilities		1,204,659		—		—		1,204,659
Corporate Bonds
Financials		—		552		—		552
Futures		4,836,314		—		—		4,836,314
Rights
Health Care		88,467		—		—		88,467
Short-Term Investments		—		28,027,711		—		28,027,711
Total Assets	$	1,332,001,031	$	28,028,263	$	855	$	1,360,030,149
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	1,332,001,031	$	28,028,263	$	855	$	1,360,030,149

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

See Notes to Portfolio of Investments.

26

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MULTIMANAGER AGGRESSIVE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

	Investments in Common Stocks – Health Care
Balance as of 12/31/12	$	855
Total gains or losses (realized/unrealized) included in earnings		—
Purchases		—
Sales		—
Issuances		—
Settlements		—
Transfers into Level 3		—
Transfers out of Level 3		—
Balance as of 3/31/13	$	855
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	—

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	209,131,494
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	229,065,963

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	404,818,846
Aggregate gross unrealized depreciation		(20,611,216	)
Net unrealized appreciation	$	384,207,630
Federal income tax cost of investments	$	970,986,205

See Notes to Portfolio of Investments.

27

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
LONG-TERM DEBT SECURITIES:
Asset-Backed and Mortgage-Backed Securities (7.9%)
Asset-Backed Securities (2.6%)
American Money Management Corp.,
Series 2006-6A A1A
0.513%, 5/3/18(l)§	$	878,234	$	871,912
AmeriCredit Automobile Receivables Trust,
Series 2012-2 C
2.640%, 10/10/17		255,000		263,124
Series 2012-5 C
1.690%, 11/8/18		610,000		614,400
Auto ABS Compartiment,
Series 2012-2 A
2.800%, 4/27/25	EUR	498,796		649,159
Black Diamond CLO 2005-1 Delaware Corp.,
Series 2005-1A A1A
0.530%, 6/20/17(l)§	$	24,330		24,300
BlueMountain CLO Ltd.,
Series 2005-1A A1F
0.528%, 11/15/17(l)§		575,159		570,413
Capital Auto Receivables Trust,
Series 2013-1 D
2.190%, 9/20/21		400,000		399,510
CarMax Auto Owner Trust,
Series 2012-1 D
3.090%, 8/15/18		115,000		119,609
Chesapeake Funding LLC,
Series 2012-1A B
1.803%, 11/7/23(l)§		220,000		221,999
Series 2012-1A C
2.203%, 11/7/23(l)§		200,000		201,394
Cumberland CLO Ltd.,
Series 2005-2A A
0.542%, 11/10/19(l)§		2,720,642		2,704,816
EFS Volunteer LLC,
Series 2010-1 A1
1.151%, 10/26/26(l)§		1,172,965		1,188,980
Ford Credit Floorplan Master Owner Trust,
Series 2010-5 C
2.070%, 9/15/15§		240,000		241,403
Series 2010-5 D
2.410%, 9/15/15§		125,000		125,745
Series 2011-2 C
2.370%, 9/15/15		305,000		306,870
Series 2011-2 D
2.860%, 9/15/15		210,000		211,524
Series 2012-1 C
1.703%, 1/15/16(l)		345,000		346,642
Series 2012-1 D
2.303%, 1/15/16(l)		320,000		322,755
Series 2012-2 C
2.860%, 1/15/19		100,000		104,901
Series 2012-2 D
3.500%, 1/15/19		145,000		154,231
Series 2012-4 C
1.390%, 9/15/16		180,000		180,290
Series 2012-4 D
2.090%, 9/15/16		320,000		322,888
Series 2012-5 C
2.140%, 9/15/19		600,000		610,703
Series 2013-1 D
1.820%, 1/15/18		795,000		794,274
Galaxy CLO Ltd.,
Series 2005-4A A1VB
0.583%, 4/17/17(l)§		339,858		339,608
GSAA Home Equity Trust,
Series 2005-11 2A1
0.484%, 10/25/35(l)		1,039,931		942,151
Series 2006-5 2A1
0.274%, 3/25/36(l)		75,152		38,419
Harvest CLO S.A.,
Series IX A1
0.827%, 3/29/17(l)(m)	EUR	815,291		1,034,058
HLSS Servicer Advance Receivables Backed Notes,
Series 2012-T2 A1
1.340%, 10/15/43§	$	135,000		135,338
Series 2012-T2 A2
1.990%, 10/15/45§		270,000		275,238
Hyundai Auto Receivables Trust,
Series 2012-A D
2.610%, 5/15/18		200,000		205,889
JG Wentworth XXII LLC,
Series 2010-3A A
3.820%, 12/15/48§		1,156,064		1,250,322
JGWPT XXIV LLC,
Series 2011-2A A
4.940%, 9/15/56§		942,175		1,036,672
Kingsland I Ltd.,
Series 2005-1A A1A
0.530%, 6/13/19(l)§		2,415,289		2,402,003
Landmark VII CDO Ltd.,
Series 2006-7A A1L
0.579%, 7/15/18(l)§		3,008,384		2,983,709
Mid-State Trust,
Series 4 A
8.330%, 4/1/30		105,884		112,402
Nelnet Student Loan Trust,
Series 2006-1 A5
0.398%, 8/23/27(l)		1,005,000		981,458
Series 2008-3 A4
1.938%, 11/25/24(l)		345,000		365,452
PFS Financing Corp.,
Series 2012-AA A
1.403%, 2/15/16(l)§		300,000		300,623
Renaissance Home Equity Loan Trust,
Series 2003-3 A
0.704%, 12/25/33(l)		128,509		123,259
Sagamore CLO Ltd.,
Series 2003-1A A2
0.844%, 10/15/15(l)§		142,910		142,892
Santander Drive Auto Receivables Trust,
Series 2012-AA B
1.210%, 10/16/17§		780,000		780,958
Series 2012-AA C
1.780%, 11/15/18§		1,200,000		1,208,551
Series 2013-2 B
1.330%, 3/15/18		1,000,000		999,442
Series 2013-2 C
1.950%, 3/15/19		1,260,000		1,259,568
Scholar Funding Trust,
Series 2011-A A
1.200%, 10/28/43(l)§		1,297,161		1,301,186
Series 2013-A A
0.853%, 1/30/45(b)(l)§		1,410,000		1,403,104
SLM Student Loan Trust,
Series 2003-B A2
0.680%, 3/15/22(l)		696,150		685,581
Series 2004-B A2
0.480%, 6/15/21(l)		791,279		777,689

See Notes to Portfolio of Investments.

28

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Series 2005-B A2
0.460%, 3/15/23(l)	$	1,128,756	$	1,107,649
Series 2008-5 A4
2.001%, 7/25/23(l)		740,000		778,864
Series 2008-9 A
1.801%, 4/25/23(l)		12,189,938		12,761,656
Series 2011-B A2
3.740%, 2/15/29§		130,000		140,713
Series 2011-C A2B
4.540%, 10/17/44§		380,000		424,087
Series 2012-A A1
1.603%, 8/15/25(l)§		141,260		143,060
Series 2012-B A2
3.480%, 10/15/30§		910,000		972,409
Series 2012-C A1
1.303%, 8/15/23(l)§		465,011		468,222
Series 2012-C A2
3.310%, 10/15/46§		910,000		969,306
Series 2012-D A2
2.950%, 2/15/46§		1,050,000		1,103,961
Series 2012-E A1
0.953%, 10/16/23(l)§		436,650		437,247
Series 2013-A A2A
1.770%, 5/17/27§		1,130,000		1,121,634
Series 2013-A A2B
1.253%, 5/17/27(b)(l)§		980,000		979,994
Series 2013-A B
2.500%, 3/15/47§		440,000		418,192
Structured Asset Receivables Trust,
Series 2003-2A CTFS
1.989%, 1/21/11(b)(l)§†		976		976
Structured Receivables Finance LLC,
Series 2010-B A
3.730%, 8/15/36§		667,556		712,376
World Financial Network Credit Card Master Trust,
Series 2012-C A
2.230%, 8/15/22		740,000		759,701
Series 2012-D A
2.150%, 4/17/23		955,000		968,180
				56,905,641
Non-Agency CMO (5.3%)
Alternative Loan Trust,
Series 2006-OA22 A1
0.364%, 2/25/47(l)		325,620		254,699
Series 2006-OA6 1A2
0.414%, 7/25/46(l)		199,896		156,643
Series 2007-OH1 A1D
0.414%, 4/25/47(l)		341,663		215,897
American Home Mortgage Investment Trust,
Series 2004-3 5A
2.291%, 10/25/34(l)		164,435		160,689
Banc of America Commercial Mortgage, Inc.,
Series 2006-5 AM
5.448%, 9/10/47		190,000		199,102
Series 2007-1 AMFX
5.482%, 1/15/49(l)		45,000		49,325
Series 2007-3 A4
5.623%, 6/10/49(l)		920,000		1,053,146
Series 2007-3 AM
5.623%, 6/10/49(l)		345,000		391,631
Banc of America Large Loan Trust,
Series 2010-HLTN
2.503%, 11/15/15(l)§		8,167,073		8,211,722
Banc of America Re-Remic Trust,
Series 2009-UB1 A4A
5.614%, 6/24/50(l)§		2,200,000		2,494,250
Series 2010-UB4 A4A
5.012%, 12/20/41(l)§†		234,407		246,652
Series 2012-CLRN A
1.353%, 8/15/29(l)§		240,000		241,991
BB-UBS Trust,
Series 2012-SHOW XA
0.596%, 11/5/36 IO(l)§		6,280,000		381,309
Series 2012-TFT A
2.892%, 6/5/30§		420,000		427,237
Bear Stearns Commercial Mortgage Securities, Inc.,
Series 2003-T12 A4
4.680%, 8/13/39(l)		1,302,423		1,314,957
Series 2005-PW10 AM
5.449%, 12/11/40(l)		210,000		230,108
CHL Mortgage Pass-Through Trust,
Series 2006-OA5 2A1
0.404%, 4/25/46(l)		371,413		261,180
Citigroup Commercial Mortgage Trust, Inc.,
0.000%, 1/14/30		8,730,000		293,677
Citigroup Mortgage Loan Trust, Inc.,
Series 2006-AR1 1A1
2.550%, 10/25/35(l)		4,455,845		4,025,346
COMM 2010-RR1 Mortgage Trust,
Series 2010-RR1 GEB
5.543%, 12/11/49(l)§		200,000		223,962
Commercial Mortgage Pass Through Certificates,
Series 2006-C8 AM
5.347%, 12/10/46		385,000		433,500
Series 2010-C1 A1
3.156%, 7/10/46§		7,103,084		7,447,787
Series 2012-CR1 XA
2.254%, 5/15/45 IO(l)		3,886,901		538,007
Series 2012-LTRT A2
3.400%, 10/5/30§		780,000		798,037
Series 2013-CR6 XA
1.710%, 3/10/46 IO(l)		4,840,000		427,748
Series 2013-GAM A2
3.367%, 2/10/28§		430,000		442,336
Credit Suisse Mortgage Capital Certificates,
Series 2006-C3 AM
5.804%, 6/15/38(l)		290,000		316,495
Series 2006-C5 A3
5.311%, 12/15/39		500,000		560,684
Series 2008-C1 A2
6.024%, 2/15/41(l)		155,191		161,303
Series 2010-RR1 2A
5.695%, 9/15/40(l)§		4,800,000		5,534,837
Series 2010-RR1 3A
5.623%, 6/10/49(l)§		4,800,000		5,484,653
Series 2010-RR2 2A
5.764%, 9/15/39(l)§		1,630,000		1,873,158
Series 2010-RR7 2A
5.467%, 9/18/39(l)§		2,729,301		3,068,021
Series 2011-4R 5A1
4.127%, 5/27/36(l)§		2,084,933		1,987,940

See Notes to Portfolio of Investments.

29

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Series 2011-4R 6A1
2.950%, 5/27/36(l)§	$	883,421	$	857,393
CS First Boston Mortgage Securities Corp.,
Series 2005-C3 AJ
4.771%, 7/15/37		370,000		380,264
DBRR Trust,
Series 2011-C32 A3A
5.732%, 6/17/49(l)§		500,000		575,899
Series 2012-EZ1 A
0.946%, 9/25/45§		1,310,838		1,314,364
EMF-NL B.V.,
Series 2008-2X A2
1.202%, 7/17/41(l)(m)	EUR	1,200,000		1,118,917
Extended Stay America Trust,
Series 2013-ESFL CFL
1.704%, 12/5/31(l)§	$	1,000,000		1,000,602
Series 2013-ESHL A27
2.958%, 12/5/31§		335,000		339,377
First Republic Mortgage Loan Trust,
Series 2001-FRB1 A
0.553%, 11/15/31(l)		358,606		343,422
GMAC Commercial Mortgage Securities, Inc.,
Series 2006-C1 AM
5.290%, 11/10/45(l)		330,000		354,951
Greenwich Capital Commercial Funding Corp.,
Series 2007-GG11 A4
5.736%, 12/10/49		160,000		184,593
Series 2007-GG11 AM
5.867%, 12/10/49(l)		490,000		552,809
Series 2007-GG9 AM
5.475%, 3/10/39		130,000		144,509
GS Mortgage Securities Corp. II,
Series 2006-GG8 AM
5.591%, 11/10/39		140,000		158,417
Series 2007-GG10 A4
5.787%, 8/10/45(l)		190,000		217,429
Series 2010-C1 A2
4.592%, 8/10/43§		6,200,000		7,094,923
Series 2013-KING XA
0.729%, 12/10/27 IO(l)§		3,668,234		151,179
Series 2013-KYO XB1
3.249%, 11/8/29 IO(l)§		2,665,000		182,587
GSR Mortgage Loan Trust,
Series 2005-AR6 2A1
2.662%, 9/25/35(l)		972,961		986,908
Series 2006-AR2 2A1
2.889%, 4/25/36(l)		544,548		510,906
Homebanc Mortgage Trust,
Series 2005-4 A1
0.474%, 10/25/35(l)		531,307		456,675
Impac CMB Trust,
Series 2003-8 2A1
1.104%, 10/25/33(l)		71,995		70,431
JP Morgan Chase Commercial Mortgage Securities Corp.,
Series 2004-CB8 A1A
4.158%, 1/12/39§		749,226		765,544
Series 2006-CB14
5.451%, 12/12/44(l)		120,000		129,823
Series 2008-C2 ASB
6.125%, 2/12/51(l)		465,979		507,696
Series 2012-CBX XA
2.044%, 6/15/45 IO(l)		1,809,156		206,091
JP Morgan Mortgage Trust,
Series 2006-A3 6A1
2.993%, 8/25/34(l)		583,974		594,634
Series 2006-S2 2A2
5.875%, 6/25/21		76,456		73,863
Series 2007-A1 3A3
3.030%, 7/25/35(l)		615,249		623,503
Series 2007-S1 1A2
5.500%, 3/25/22		72,963		71,163
LB-UBS Commercial Mortgage Trust,
Series 2004-C7 A1A
4.475%, 10/15/29		905,570		949,949
Series 2005-C2 AJ
5.205%, 4/15/30(l)		265,000		280,944
Series 2006-C4 AM
5.886%, 6/15/38(l)		240,000		268,656
Series 2006-C7 AM
5.378%, 11/15/38		230,000		257,202
Series 2007-C1 A4
5.424%, 2/15/40		4,000,000		4,570,204
Series 2007-C6 A4
5.858%, 7/15/40(l)		820,000		948,605
Series 2007-C7 A3
5.866%, 9/15/45(l)		1,070,000		1,234,719
Merrill Lynch Mortgage Investors, Inc.,
Series 2003-A1 3A
1.968%, 12/25/32(l)		130,562		129,424
Series 2005-A10 A
0.414%, 2/25/36(l)		1,608,061		1,401,997
Merrill Lynch Mortgage Trust,
Series 2005-CKI1 AJ
5.274%, 11/12/37(l)		365,000		386,094
Merrill Lynch/Countrywide Commercial Mortgage Trust,
Series 2007-9 A4
5.700%, 9/12/49		1,910,000		2,208,994
Morgan Stanley Capital I Trust,
Series 2007-IQ13 AM
5.406%, 3/15/44		230,000		255,833
Morgan Stanley Capital I, Inc.,
Series 1998-HF2 J
6.010%, 11/15/30§		7,000,000		6,987,130
Series 2007-HQ12 A2FX
5.575%, 4/12/49(l)		792,160		816,244
Series 2007-IQ14 A2FX
5.610%, 4/15/49		1,058,541		1,067,937
Series 2012-C4 XA
2.691%, 3/15/45 IO(l)§		3,259,274		457,446
Morgan Stanley Re-remic Trust,
2.000%, 7/27/49§		447,803		453,401
Series 2009-GG10 A4A
5.787%, 8/12/45(l)§		1,800,000		2,068,168
Series 2011-IO A
2.500%, 3/23/51§		267,500		270,175
Series 2012-IO AXB1
1.000%, 3/29/51§†		269,372		268,856
Series 2012-IO AXB2
1.000%, 3/29/51§†		240,000		232,163

See Notes to Portfolio of Investments.

30

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
OBP Depositor LLC Trust,
Series 2010-OBP A
4.646%, 7/15/45§	$	6,500,000	$	7,453,922
RBSCF Trust,
Series 2010-RR3 JPMA
5.420%, 1/16/49(l)§		2,500,000		2,865,138
Series 2010-RR4 CMLA
6.005%, 12/16/49(l)§		1,234,000		1,452,915
S2 Hospitality LLC,
Series 2012-LV1 A
4.500%, 4/15/25§		244,350		244,418
Sequoia Mortgage Trust,
Series 10 2A1
0.963%, 10/20/27(l)		40,346		38,927
Series 2003-4 2A1
0.553%, 7/20/33(l)		135,535		132,220
STRIPs 2012-1 Ltd.,
Series 2012-1A A
1.500%, 12/25/44§†		816,306		806,776
Structured Adjustable Rate Mortgage Loan Trust,
Series 2004-16 3A1
2.816%, 11/25/34(l)		1,021,325		1,042,804
Structured Asset Mortgage Investments Trust,
Series 2005-AR5 A1
0.453%, 7/19/35(l)		368,569		354,042
Structured Asset Mortgage Investments, Inc.,
Series 2006-AR3 12A1
0.424%, 5/25/36(l)		1,307,748		909,476
WaMu Mortgage Pass-Through Certificates,
Series 2002-AR9 1A
1.577%, 8/25/42(l)		67,016		65,926
Series 2003-AR1 A5
2.211%, 3/25/33(l)		572,058		595,520
Wells Fargo Re-Remic Trust,
Series 2012-IO A
1.750%, 8/20/21§		476,320		476,768
WF-RBS Commercial Mortgage Trust,
Series 2013-C11 A4
3.037%, 3/15/45		500,000		513,799
Series 2013-C12 XA
1.852%, 12/15/45 IO(l)§		4,144,135		502,590
1.677%, 3/15/48 IO(l)		5,040,000		520,879
				113,367,162
Total Asset-Backed and Mortgage-Backed Securities				170,272,803
Corporate Bonds (25.5%)
Consumer Discretionary (1.4%)
Auto Components (0.0%)
BorgWarner, Inc.
4.625%, 9/15/20		220,000		242,037
Johnson Controls, Inc.
4.250%, 3/1/21		310,000		339,632
				581,669
Automobiles (0.0%)
Ford Motor Co.
4.750%, 1/15/43		411,000		383,011
Hotels, Restaurants & Leisure (0.1%)
Carnival Corp.
1.875%, 12/15/17		150,000		150,082
Darden Restaurants, Inc.
4.500%, 10/15/21		150,000		156,816
Hyatt Hotels Corp.
3.875%, 8/15/16		100,000		106,739
5.375%, 8/15/21		100,000		111,132
International Game Technology
5.500%, 6/15/20		100,000		107,624
Marriott International, Inc.
3.250%, 9/15/22		250,000		249,963
McDonald’s Corp.
5.800%, 10/15/17		250,000		300,974
3.500%, 7/15/20		160,000		176,168
3.625%, 5/20/21		100,000		110,483
Starbucks Corp.
6.250%, 8/15/17		100,000		119,933
Virgin River Hotel & Casino
6.500%, 1/15/18†		1,526,000		76
Wyndham Worldwide Corp.
2.500%, 3/1/18		200,000		201,000
Yum! Brands, Inc.
4.250%, 9/15/15		100,000		107,219
5.300%, 9/15/19		150,000		174,580
				2,072,789
Household Durables (0.1%)
Newell Rubbermaid, Inc.
4.700%, 8/15/20		200,000		220,673
NVR, Inc.
3.950%, 9/15/22		150,000		154,073
Tupperware Brands Corp.
4.750%, 6/1/21		100,000		105,757
Whirlpool Corp.
8.600%, 5/1/14		100,000		108,030
4.850%, 6/15/21		100,000		109,968
				698,501
Internet & Catalog Retail (0.0%)
Expedia, Inc.
5.950%, 8/15/20		300,000		333,750
QVC, Inc.
4.375%, 3/15/23§		125,000		125,105
5.950%, 3/15/43§		76,000		74,692
				533,547
Leisure Equipment & Products (0.0%)
Mattel, Inc.
3.150%, 3/15/23		100,000		100,381
Media (0.9%)
CBS Corp.
8.875%, 5/15/19		250,000		334,504
5.750%, 4/15/20		380,000		448,503
CC Holdings GS V LLC
3.849%, 4/15/23§		323,000		325,972
Charter Communications Operating LLC/Charter Communications Operating Capital Corp. Term Loan
3.460%, 9/6/16		319,849		320,869
Comcast Corp.
6.500%, 1/15/15		1,369,000		1,509,634
5.900%, 3/15/16		300,000		342,916
6.500%, 1/15/17		300,000		357,980
5.875%, 2/15/18		777,000		938,188
5.700%, 5/15/18		300,000		361,368
3.125%, 7/15/22		250,000		255,882

See Notes to Portfolio of Investments.

31

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
4.650%, 7/15/42	$	753,000	$	770,244
COX Communications, Inc.
5.500%, 10/1/15		150,000		167,295
3.250%, 12/15/22§		856,000		859,869
8.375%, 3/1/39§		840,000		1,222,809
4.700%, 12/15/42§		20,000		19,691
DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.
3.550%, 3/15/15		195,000		204,489
3.500%, 3/1/16		300,000		318,398
5.875%, 10/1/19		200,000		236,937
5.200%, 3/15/20		130,000		148,344
4.600%, 2/15/21		300,000		325,547
5.000%, 3/1/21		200,000		222,523
Discovery Communications LLC
3.700%, 6/1/15		200,000		212,087
5.050%, 6/1/20		200,000		230,892
Interpublic Group of Cos., Inc.
2.250%, 11/15/17		200,000		198,500
NBCUniversal Media LLC
3.650%, 4/30/15		300,000		317,788
5.150%, 4/30/20		966,000		1,138,457
4.375%, 4/1/21		300,000		335,728
2.875%, 1/15/23		599,000		590,415
News America, Inc.
4.500%, 2/15/21		500,000		564,041
3.000%, 9/15/22		200,000		198,343
Omnicom Group, Inc.
5.900%, 4/15/16		200,000		226,557
4.450%, 8/15/20		200,000		216,856
Reed Elsevier Capital, Inc.
8.625%, 1/15/19		300,000		384,099
Thomson Reuters Corp.
5.700%, 10/1/14		300,000		321,418
4.700%, 10/15/19		150,000		169,867
Time Warner Cable, Inc.
5.850%, 5/1/17		750,000		870,377
5.000%, 2/1/20		200,000		227,574
4.000%, 9/1/21		250,000		265,277
4.500%, 9/15/42		625,000		568,141
Time Warner, Inc.
5.875%, 11/15/16		500,000		581,425
4.875%, 3/15/20		250,000		284,388
4.700%, 1/15/21		150,000		167,982
3.400%, 6/15/22		100,000		102,237
Viacom, Inc.
4.375%, 9/15/14		400,000		419,927
5.625%, 9/15/19		250,000		298,586
Walt Disney Co.
5.500%, 3/15/19		300,000		362,328
2.750%, 8/16/21		150,000		153,522
2.350%, 12/1/22		250,000		245,859
WPP Finance 2010
3.625%, 9/7/22		150,000		149,011
WPP Finance UK Corp.
8.000%, 9/15/14		250,000		274,123
				19,767,767
Multiline Retail (0.2%)
Family Dollar Stores, Inc.
5.000%, 2/1/21		100,000		107,506
Kohl’s Corp.
6.250%, 12/15/17		100,000		116,167
Macy’s Retail Holdings, Inc.
5.750%, 7/15/14		160,000		169,600
5.900%, 12/1/16		143,000		165,522
7.450%, 7/15/17		662,000		814,260
2.875%, 2/15/23		470,000		453,550
Nordstrom, Inc.
6.750%, 6/1/14		100,000		107,109
4.750%, 5/1/20		100,000		116,140
4.000%, 10/15/21		100,000		111,233
Target Corp.
6.000%, 1/15/18		400,000		486,137
2.900%, 1/15/22		150,000		154,485
				2,801,709
Specialty Retail (0.1%)
AutoZone, Inc.
4.000%, 11/15/20		250,000		266,642
Home Depot, Inc.
5.400%, 3/1/16		500,000		565,467
4.400%, 4/1/21		250,000		287,632
Lowe’s Cos., Inc.
2.125%, 4/15/16		200,000		208,384
4.625%, 4/15/20		300,000		345,093
O’Reilly Automotive, Inc.
4.625%, 9/15/21		100,000		110,803
TJX Cos., Inc.
6.950%, 4/15/19		145,000		185,113
				1,969,134
Textiles, Apparel & Luxury Goods (0.0%)
Cintas Corp. No. 2
2.850%, 6/1/16		200,000		210,320
Total Consumer Discretionary				29,118,828
Consumer Staples (1.4%)
Beverages (0.3%)
Anheuser-Busch InBev Worldwide, Inc.
1.500%, 7/14/14		250,000		252,952
4.125%, 1/15/15		630,000		668,587
2.875%, 2/15/16		200,000		211,794
1.375%, 7/15/17		69,000		69,546
7.750%, 1/15/19		250,000		329,221
5.375%, 1/15/20		250,000		300,364
2.500%, 7/15/22		500,000		490,481
Beam, Inc.
6.375%, 6/15/14		100,000		106,764
Bottling Group LLC
5.500%, 4/1/16		200,000		227,078
Brown-Forman Corp.
2.500%, 1/15/16		150,000		156,854
Coca-Cola Co.
0.750%, 3/13/15		100,000		100,623
1.500%, 11/15/15		250,000		255,713
1.800%, 9/1/16		400,000		413,979
1.150%, 4/1/18		250,000		249,725
3.150%, 11/15/20		250,000		269,977
Coca-Cola Enterprises, Inc.
2.000%, 8/19/16		100,000		102,800
3.250%, 8/19/21		100,000		103,792
Diageo Capital plc
5.750%, 10/23/17		250,000		298,191
Diageo Finance B.V.
3.250%, 1/15/15		200,000		208,820

See Notes to Portfolio of Investments.

32

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
5.300%, 10/28/15	$	250,000	$	277,938
Dr. Pepper Snapple Group, Inc.
2.600%, 1/15/19		200,000		208,059
3.200%, 11/15/21		100,000		103,573
PepsiCo, Inc.
0.700%, 8/13/15		100,000		100,137
0.700%, 2/26/16		75,000		75,003
7.900%, 11/1/18		500,000		665,430
4.500%, 1/15/20		400,000		461,532
Pernod-Ricard S.A.
4.450%, 1/15/22§		320,000		352,770
				7,061,703
Food & Staples Retailing (0.5%)
Costco Wholesale Corp.
5.500%, 3/15/17		150,000		175,853
1.700%, 12/15/19		250,000		251,277
CVS Caremark Corp.
4.875%, 9/15/14		100,000		106,137
3.250%, 5/18/15		350,000		368,130
4.750%, 5/18/20		350,000		404,600
CVS Pass-Through Trust
7.507%, 1/10/32§		5,243,459		6,847,935
Delhaize Group S.A.
4.125%, 4/10/19		100,000		105,543
Kroger Co.
6.400%, 8/15/17		250,000		297,445
Safeway, Inc.
5.000%, 8/15/19		400,000		447,543
Walgreen Co.
1.800%, 9/15/17		150,000		151,705
5.250%, 1/15/19		100,000		116,770
3.100%, 9/15/22		200,000		198,997
Wal-Mart Stores, Inc.
2.875%, 4/1/15		750,000		786,468
5.800%, 2/15/18		500,000		607,762
3.250%, 10/25/20		200,000		214,665
				11,080,830
Food Products (0.4%)
Bunge Ltd. Finance Corp.
5.350%, 4/15/14		400,000		417,508
Campbell Soup Co.
3.375%, 8/15/14		100,000		103,926
ConAgra Foods, Inc.
5.819%, 6/15/17		200,000		231,975
1.900%, 1/25/18		125,000		126,091
3.200%, 1/25/23		200,000		198,584
General Mills, Inc.
0.875%, 1/29/16		80,000		80,095
5.650%, 2/15/19		250,000		300,958
Hershey Co.
4.850%, 8/15/15		250,000		273,626
Hormel Foods Corp.
4.125%, 4/15/21		100,000		111,312
Ingredion, Inc.
3.200%, 11/1/15		100,000		104,925
4.625%, 11/1/20		100,000		111,239
J.M. Smucker Co.
3.500%, 10/15/21		200,000		210,278
Kellogg Co.
4.000%, 12/15/20		250,000		277,810
Kraft Foods Group, Inc.
3.500%, 6/6/22		500,000		519,866
5.000%, 6/4/42		307,000		327,529
McCormick & Co., Inc.
3.900%, 7/15/21		75,000		81,647
Mead Johnson Nutrition Co.
3.500%, 11/1/14		100,000		103,941
4.900%, 11/1/19		200,000		227,889
Mondelez International, Inc.
4.125%, 2/9/16		350,000		380,371
6.500%, 8/11/17		1,030,000		1,242,574
6.125%, 2/1/18		500,000		599,616
5.375%, 2/10/20		500,000		591,913
Tyson Foods, Inc.
4.500%, 6/15/22		1,000,000		1,086,000
				7,709,673
Household Products (0.1%)
Clorox Co.
3.550%, 11/1/15		250,000		264,916
Colgate-Palmolive Co.
3.150%, 8/5/15		300,000		318,483
Energizer Holdings, Inc.
4.700%, 5/19/21		150,000		159,270
Kimberly-Clark Corp.
6.125%, 8/1/17		250,000		303,027
7.500%, 11/1/18		100,000		132,532
3.875%, 3/1/21		105,000		117,551
Procter & Gamble Co.
3.150%, 9/1/15		350,000		371,793
4.700%, 2/15/19		500,000		588,401
				2,255,973
Personal Products (0.0%)
Avon Products, Inc.
5.000%, 3/15/23		250,000		255,307
Tobacco (0.1%)
Altria Group, Inc.
9.700%, 11/10/18		220,000		304,417
4.750%, 5/5/21		250,000		280,819
2.850%, 8/9/22		250,000		243,740
Lorillard Tobacco Co.
3.500%, 8/4/16		110,000		115,908
6.875%, 5/1/20		250,000		303,267
Philip Morris International, Inc.
5.650%, 5/16/18		650,000		778,815
2.500%, 8/22/22		100,000		98,463
2.625%, 3/6/23		100,000		97,833
Reynolds American, Inc.
6.750%, 6/15/17		300,000		360,424
3.250%, 11/1/22		200,000		197,568
				2,781,254
Total Consumer Staples				31,144,740
Energy (2.4%)
Energy Equipment & Services (0.3%)
Cameron International Corp.
4.500%, 6/1/21		150,000		167,757
Diamond Offshore Drilling, Inc.
5.875%, 5/1/19		105,000		127,371
Ensco plc
3.250%, 3/15/16		250,000		265,325
4.700%, 3/15/21		400,000		442,562

See Notes to Portfolio of Investments.

33

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Halliburton Co.
6.150%, 9/15/19	$	250,000	$	313,860
Pride International, Inc.
6.875%, 8/15/20		360,000		446,467
Rowan Cos., Inc.
7.875%, 8/1/19		130,000		160,300
Transocean, Inc.
4.950%, 11/15/15		250,000		271,796
5.050%, 12/15/16		130,000		144,867
2.500%, 10/15/17		710,000		719,040
6.000%, 3/15/18		1,668,000		1,891,028
6.500%, 11/15/20		250,000		289,705
Weatherford International Ltd.
5.500%, 2/15/16		299,000		326,177
9.625%, 3/1/19		300,000		390,646
				5,956,901
Oil, Gas & Consumable Fuels (2.1%)
Anadarko Petroleum Corp.
5.950%, 9/15/16		1,131,000		1,297,087
8.700%, 3/15/19		300,000		403,584
Apache Corp.
5.625%, 1/15/17		200,000		232,619
3.250%, 4/15/22		200,000		206,628
Buckeye Partners LP
4.875%, 2/1/21		200,000		214,011
Canadian Natural Resources Ltd.
5.700%, 5/15/17		400,000		465,474
Cenovus Energy, Inc.
4.500%, 9/15/14		100,000		105,058
5.700%, 10/15/19		200,000		240,781
Chevron Corp.
1.104%, 12/5/17		200,000		200,707
4.950%, 3/3/19		250,000		299,399
2.355%, 12/5/22		150,000		148,944
ConocoPhillips Co.
4.600%, 1/15/15		500,000		535,888
1.050%, 12/15/17		100,000		99,749
5.750%, 2/1/19		250,000		306,982
6.000%, 1/15/20		250,000		312,412
Devon Energy Corp.
2.400%, 7/15/16		150,000		155,500
4.000%, 7/15/21		200,000		214,552
Enbridge Energy Partners LP
9.875%, 3/1/19		250,000		341,238
Enbridge, Inc.
5.800%, 6/15/14		300,000		321,458
EnCana Corp.
6.500%, 5/15/19		245,000		299,490
Energy Transfer Partners LP
9.000%, 4/15/19		300,000		394,877
5.200%, 2/1/22		300,000		335,971
3.600%, 2/1/23		550,000		546,194
6.500%, 2/1/42		500,000		578,429
Enterprise Products Operating LLC
1.250%, 8/13/15		122,000		122,792
3.200%, 2/1/16		400,000		423,906
5.250%, 1/31/20		100,000		117,290
3.350%, 3/15/23		350,000		355,949
4.450%, 2/15/43		210,000		202,445
EOG Resources, Inc.
2.950%, 6/1/15		250,000		262,266
5.625%, 6/1/19		100,000		122,521
4.100%, 2/1/21		250,000		281,646
EQT Corp.
8.125%, 6/1/19		200,000		246,833
Gazprom S.A. (Gaz Capital S.A.)
8.146%, 4/11/18§		1,800,000		2,182,500
9.250%, 4/23/19(m)		300,000		389,250
Husky Energy, Inc.
5.900%, 6/15/14		335,000		356,514
Kinder Morgan Energy Partners LP
5.625%, 2/15/15		100,000		108,421
6.000%, 2/1/17		200,000		232,221
6.850%, 2/15/20		250,000		312,415
3.950%, 9/1/22		250,000		264,971
Magellan Midstream Partners LP
6.550%, 7/15/19		150,000		185,816
4.250%, 2/1/21		100,000		110,133
Marathon Oil Corp.
2.800%, 11/1/22		200,000		194,578
Marathon Petroleum Corp.
3.500%, 3/1/16		130,000		139,001
5.125%, 3/1/21		150,000		174,606
Murphy Oil Corp.
2.500%, 12/1/17		474,000		476,177
4.000%, 6/1/22		306,000		304,010
3.700%, 12/1/22		636,000		613,975
5.125%, 12/1/42		80,000		73,781
Nabors Industries, Inc.
9.250%, 1/15/19		300,000		386,401
Nexen, Inc.
6.200%, 7/30/19		100,000		124,036
5.875%, 3/10/35		20,000		24,173
6.400%, 5/15/37		210,000		270,939
7.500%, 7/30/39		660,000		966,339
Noble Energy, Inc.
4.150%, 12/15/21		250,000		275,713
Noble Holding International Ltd.
3.050%, 3/1/16		150,000		156,401
2.500%, 3/15/17		225,000		232,134
4.625%, 3/1/21		200,000		216,615
3.950%, 3/15/22		210,000		216,352
Occidental Petroleum Corp.
2.500%, 2/1/16		100,000		105,206
4.125%, 6/1/16		150,000		165,926
4.100%, 2/1/21		300,000		337,747
ONEOK Partners LP
3.250%, 2/1/16		100,000		105,564
8.625%, 3/1/19		100,000		132,587
3.375%, 10/1/22		100,000		99,468
PC Financial Partnership
5.000%, 11/15/14		500,000		533,097
Petrobras International Finance Co.
3.875%, 1/27/16		2,940,000		3,065,020
3.500%, 2/6/17		250,000		257,231
7.875%, 3/15/19		350,000		423,504
5.750%, 1/20/20		475,000		520,356
5.375%, 1/27/21		750,000		808,097
Petrohawk Energy Corp.
6.250%, 6/1/19		250,000		283,463
Petroleos Mexicanos
4.875%, 3/15/15		350,000		375,375
8.000%, 5/3/19		500,000		642,015
6.000%, 3/5/20		620,000		730,050

See Notes to Portfolio of Investments.

34

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
3.500%, 1/30/23§	$	225,000	$	223,875
Phillips 66
4.300%, 4/1/22		400,000		438,908
Pioneer Natural Resources Co.
6.875%, 5/1/18		150,000		182,664
3.950%, 7/15/22		200,000		208,442
Plains All American Pipeline LP/Plains All American Finance Corp.
3.950%, 9/15/15		250,000		269,145
8.750%, 5/1/19		100,000		135,452
5.000%, 2/1/21		100,000		115,756
Shell International Finance B.V.
3.100%, 6/28/15		6,600,000		6,984,758
4.300%, 9/22/19		200,000		231,412
4.375%, 3/25/20		100,000		115,910
2.375%, 8/21/22		200,000		198,309
Southwestern Energy Co.
7.500%, 2/1/18		200,000		245,539
4.100%, 3/15/22		500,000		528,185
Spectra Energy Capital LLC
6.200%, 4/15/18		200,000		240,830
8.000%, 10/1/19		100,000		131,579
Statoil ASA
2.900%, 10/15/14		500,000		519,013
1.200%, 1/17/18		100,000		100,313
5.250%, 4/15/19		250,000		301,632
Talisman Energy, Inc.
7.750%, 6/1/19		200,000		253,561
Total Capital International S.A.
2.875%, 2/17/22		250,000		258,233
Total Capital S.A.
3.125%, 10/2/15		400,000		423,933
4.450%, 6/24/20		100,000		114,959
4.125%, 1/28/21		200,000		225,071
TransCanada PipeLines Ltd.
3.400%, 6/1/15		200,000		211,646
7.125%, 1/15/19		400,000		508,373
2.500%, 8/1/22		175,000		169,881
6.350%, 5/15/67(l)		100,000		106,750
Valero Energy Corp.
6.125%, 2/1/20		365,000		442,463
6.625%, 6/15/37		73,000		89,326
Western Gas Partners LP
5.375%, 6/1/21		900,000		1,020,346
4.000%, 7/1/22		250,000		258,028
Williams Cos., Inc.
7.875%, 9/1/21		324,000		412,324
3.700%, 1/15/23		255,000		253,932
Williams Partners LP
3.800%, 2/15/15		200,000		210,960
5.250%, 3/15/20		310,000		353,455
4.000%, 11/15/21		100,000		105,352
XTO Energy, Inc.
6.250%, 8/1/17		200,000		245,888
				44,801,061
Total Energy				50,757,962
Financials (13.1%)
Capital Markets (1.8%)
Ameriprise Financial, Inc.
5.650%, 11/15/15		150,000		168,897
7.300%, 6/28/19		90,000		117,905
5.300%, 3/15/20		100,000		119,025
Bank of New York Mellon Corp.
3.100%, 1/15/15		500,000		522,911
1.200%, 2/20/15		85,000		86,032
5.450%, 5/15/19		200,000		241,325
4.150%, 2/1/21		200,000		224,470
3.550%, 9/23/21		100,000		108,432
Bear Stearns Cos. LLC
5.300%, 10/30/15		829,000		911,812
BlackRock, Inc.
3.500%, 12/10/14		250,000		262,474
5.000%, 12/10/19		200,000		236,618
Charles Schwab Corp.
4.450%, 7/22/20		100,000		113,539
3.225%, 9/1/22		100,000		102,056
Deutsche Bank AG/London
3.875%, 8/18/14		500,000		522,471
6.000%, 9/1/17		500,000		593,589
Eaton Vance Corp.
6.500%, 10/2/17		100,000		119,811
Goldman Sachs Group, Inc.
6.000%, 5/1/14		575,000		606,188
5.125%, 1/15/15		3,500,000		3,746,552
0.575%, 5/18/15(l)	EUR	100,000		126,914
5.350%, 1/15/16	$	1,000,000		1,108,821
3.625%, 2/7/16		1,000,000		1,062,020
5.625%, 1/15/17		300,000		337,535
6.250%, 9/1/17		750,000		881,113
6.150%, 4/1/18		750,000		885,942
7.500%, 2/15/19		1,300,000		1,625,494
5.375%, 3/15/20		1,000,000		1,140,740
5.250%, 7/27/21		725,000		821,925
5.750%, 1/24/22		967,000		1,113,347
3.625%, 1/22/23		1,170,000		1,175,043
Jefferies Group LLC
8.500%, 7/15/19		300,000		373,581
5.125%, 1/20/23		50,000		52,914
Lazard Group LLC
7.125%, 5/15/15		200,000		221,000
Lehman Brothers Holdings, Inc.
0.000%, 12/23/12		10,200,000		2,690,250
5.625%, 1/24/13(h)*		5,000,000		1,337,500
6.750%, 12/28/17(b)(h)*†		1,297,000		—
Merrill Lynch & Co., Inc.
5.700%, 5/2/17		750,000		837,266
6.875%, 4/25/18		1,000,000		1,206,690
Morgan Stanley
6.000%, 5/13/14		700,000		738,799
6.000%, 4/28/15		45,000		49,112
4.000%, 7/24/15		1,500,000		1,583,606
5.550%, 4/27/17		1,000,000		1,132,160
5.950%, 12/28/17		500,000		580,946
7.300%, 5/13/19		1,200,000		1,489,955
5.750%, 1/25/21		750,000		862,943
5.500%, 7/28/21		150,000		171,987
3.750%, 2/25/23		300,000		301,106
Nomura Holdings, Inc.
5.000%, 3/4/15		300,000		319,211
4.125%, 1/19/16		100,000		105,840
6.700%, 3/4/20		203,000		241,742

See Notes to Portfolio of Investments.

35

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Northern Trust Corp.
3.450%, 11/4/20	$	200,000	$	215,511
Raymond James Financial, Inc.
4.250%, 4/15/16		100,000		106,327
8.600%, 8/15/19		100,000		128,755
SteelRiver Transmission Co. LLC
4.710%, 6/30/17(b)§		1,922,452		2,027,306
TD Ameritrade Holding Corp.
5.600%, 12/1/19		100,000		121,026
Tiers Trust
Series 2012-01
2.043%, 5/12/14(l)§†		1,676,000		1,669,715
				37,648,249
Commercial Banks (4.0%)
American Express Centurion Bank
6.000%, 9/13/17		400,000		474,328
Australia & New Zealand Banking Group Ltd./New York
0.900%, 2/12/16		250,000		250,662
Banco do Brasil S.A./Cayman Islands
4.500%, 1/22/15§		50,000		51,995
3.875%, 10/10/22		300,000		289,394
3.058%, 7/2/14(l)(m)		100,000		101,543
Banco Santander S.A./Chile
1.902%, 1/19/16(l)§		7,600,000		7,408,979
Bancolombia S.A.
4.250%, 1/12/16		250,000		261,846
Bank of Montreal
0.800%, 11/6/15		150,000		149,863
1.400%, 9/11/17		300,000		299,930
2.550%, 11/6/22		150,000		146,597
Bank of Nova Scotia
3.400%, 1/22/15		200,000		209,665
0.750%, 10/9/15		250,000		249,557
0.950%, 3/15/16		400,000		401,005
Barclays Bank plc
5.000%, 9/22/16		400,000		450,841
5.140%, 10/14/20		500,000		536,553
BB&T Corp.
3.200%, 3/15/16		400,000		423,971
1.450%, 1/12/18		150,000		149,392
5.250%, 11/1/19		300,000		348,963
BBVA Senior Finance S.A.U.
3.250%, 5/16/14		200,000		201,214
4.664%, 10/9/15		200,000		204,371
BNP Paribas S.A.
3.250%, 3/11/15		600,000		622,126
5.000%, 1/15/21		500,000		563,738
3.250%, 3/3/23		250,000		241,776
Canadian Imperial Bank of Commerce
2.600%, 7/2/15§		870,000		908,627
2.350%, 12/11/15		200,000		208,099
Comerica Bank
5.750%, 11/21/16		250,000		288,820
Commonwealth Bank of Australia/New York
1.250%, 9/18/15		500,000		504,701
1.900%, 9/18/17		500,000		511,873
Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.
1.700%, 3/19/18		250,000		248,500
3.950%, 11/9/22		250,000		251,620
Credit Suisse AG/New York
6.000%, 2/15/18		250,000		288,915
5.300%, 8/13/19		100,000		117,727
4.375%, 8/5/20		400,000		449,862
DnB Bank ASA
3.200%, 4/3/17§		4,300,000		4,542,170
Fifth Third Bancorp
3.625%, 1/25/16		250,000		266,583
5.450%, 1/15/17		250,000		279,284
First Horizon National Corp.
5.375%, 12/15/15		100,000		109,094
First Niagara Financial Group, Inc.
7.250%, 12/15/21		150,000		182,696
HSBC Bank S.A./Brasil
4.000%, 5/11/16§		1,150,000		1,196,000
HSBC Bank USA/New York
6.000%, 8/9/17		250,000		294,699
4.875%, 8/24/20		500,000		561,185
HSBC Holdings plc
4.000%, 3/30/22		500,000		537,515
Huntington BancShares, Inc.
7.000%, 12/15/20		25,000		31,121
Intesa Sanpaolo S.p.A.
3.875%, 1/16/18		200,000		192,676
JPMorgan Chase Bank N.A.
0.879%, 5/31/17(l)	EUR	3,800,000		4,783,351
6.000%, 10/1/17	$	6,200,000		7,324,944
4.375%, 11/30/21(b)(l)(m)	EUR	400,000		531,968
KeyBank N.A./Ohio
7.413%, 5/6/15	$	400,000		452,523
KfW
1.375%, 7/15/13		1,045,000		1,048,530
2.625%, 3/3/15		500,000		521,217
1.250%, 10/26/15		750,000		764,524
2.625%, 2/16/16		1,000,000		1,060,643
0.500%, 4/19/16		600,000		599,111
4.875%, 1/17/17		1,324,000		1,527,656
1.250%, 2/15/17		500,000		508,855
0.875%, 9/5/17		200,000		199,756
4.500%, 7/16/18		500,000		586,598
4.875%, 6/17/19		500,000		604,571
4.000%, 1/27/20		500,000		580,537
2.750%, 9/8/20		1,000,000		1,077,398
6.250%, 5/19/21	AUD	6,200,000		7,281,012
2.625%, 1/25/22	$	500,000		523,300
2.125%, 1/17/23		650,000		647,272
Landwirtschaftliche Rentenbank
3.125%, 7/15/15		500,000		529,405
2.500%, 2/15/16		1,000,000		1,054,197
1.375%, 10/23/19		57,000		56,932
Mellon Funding Corp.
5.000%, 12/1/14		250,000		267,150
National Australia Bank Ltd./New York
2.750%, 3/9/17		300,000		315,163
3.000%, 1/20/23		250,000		247,242
Nordea Bank AB
1.205%, 1/14/14(l)§		5,800,000		5,841,743
Oesterreichische Kontrollbank AG
4.875%, 2/16/16		500,000		558,533
PNC Bank N.A.
4.875%, 9/21/17		300,000		343,215
2.700%, 11/1/22		250,000		241,571

See Notes to Portfolio of Investments.

36

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal		Value
	Amount		(Note 1)
PNC Funding Corp.
3.625%, 2/8/15	$	750,000	$	788,731
5.625%, 2/1/17		300,000		342,329
5.125%, 2/8/20		100,000		117,283
4.375%, 8/11/20		100,000		112,459
Rabobank Nederland N.V.
3.875%, 2/8/22		500,000		525,665
Royal Bank of Canada
0.800%, 10/30/15		200,000		200,022
2.625%, 12/15/15		350,000		366,692
2.300%, 7/20/16		200,000		208,610
1.500%, 1/16/18		250,000		252,047
Royal Bank of Scotland Group plc
5.050%, 1/8/15		2,100,000		2,165,730
6.400%, 10/21/19		275,000		326,545
Royal Bank of Scotland plc
3.950%, 9/21/15		500,000		531,291
5.625%, 8/24/20		250,000		290,593
Santander Holdings USA, Inc./Pennsylvania
4.625%, 4/19/16		100,000		107,585
Sberbank (SB Capital S.A.)
5.499%, 7/7/15(b)(m)		2,250,000		2,404,385
Sumitomo Mitsui Banking Corp.
1.800%, 7/18/17		250,000		254,308
3.200%, 7/18/22		250,000		251,632
SunTrust Banks, Inc./Georgia
7.250%, 3/15/18		250,000		309,647
Svenska Handelsbanken AB
3.125%, 7/12/16		250,000		265,357
Toronto-Dominion Bank
2.500%, 7/14/16		350,000		366,598
2.375%, 10/19/16		200,000		209,234
U.S. Bancorp
4.200%, 5/15/14		750,000		782,461
2.450%, 7/27/15		250,000		260,658
2.950%, 7/15/22		250,000		249,426
U.S. Bank N.A./Ohio
4.950%, 10/30/14		400,000		427,480
UBS AG/Connecticut
3.875%, 1/15/15		250,000		264,159
5.875%, 7/15/16		250,000		280,405
5.875%, 12/20/17		204,000		242,075
5.750%, 4/25/18		122,000		144,646
4.875%, 8/4/20		170,000		195,372
UFJ Finance Aruba AEC
6.750%, 7/15/13		310,000		315,748
UnionBanCal Corp.
3.500%, 6/18/22		250,000		260,403
Wachovia Bank N.A.
4.800%, 11/1/14		500,000		531,748
Wachovia Corp.
5.625%, 10/15/16		250,000		286,416
5.750%, 2/1/18		700,000		837,770
Wells Fargo & Co.
3.750%, 10/1/14		500,000		522,902
1.250%, 2/13/15		250,000		252,657
1.500%, 7/1/15		500,000		507,975
5.625%, 12/11/17		500,000		592,541
1.500%, 1/16/18		300,000		299,169
3.500%, 3/8/22		750,000		784,507
3.450%, 2/13/23		715,000		716,848
Westpac Banking Corp.
3.000%, 8/4/15		500,000		523,997
0.950%, 1/12/16		300,000		300,616
2.000%, 8/14/17		200,000		206,354
4.875%, 11/19/19		300,000		349,592
Zions Bancorp
7.750%, 9/23/14		100,000		108,722
				86,730,383
Consumer Finance (1.8%)
Ally Financial, Inc.
3.492%, 2/11/14(l)		4,000,000		4,058,960
8.300%, 2/12/15		600,000		663,750
American Express Co.
7.250%, 5/20/14		250,000		268,388
6.150%, 8/28/17		1,000,000		1,191,168
7.000%, 3/19/18		6,450,000		8,039,306
8.125%, 5/20/19		250,000		335,080
American Express Credit Corp.
5.125%, 8/25/14		500,000		530,655
1.750%, 6/12/15		130,000		132,688
2.750%, 9/15/15		500,000		522,713
2.800%, 9/19/16		300,000		318,087
Capital One Bank USA N.A.
8.800%, 7/15/19		313,000		428,190
Capital One Financial Corp.
7.375%, 5/23/14		125,000		134,234
2.125%, 7/15/14		100,000		101,582
2.150%, 3/23/15		250,000		255,416
1.000%, 11/6/15		150,000		149,219
3.150%, 7/15/16		340,000		360,536
Caterpillar Financial Services Corp.
1.375%, 5/20/14		140,000		141,370
2.750%, 6/24/15		500,000		522,640
1.250%, 11/6/17		250,000		250,280
7.150%, 2/15/19		200,000		259,404
Discover Financial Services
6.450%, 6/12/17		200,000		234,500
5.200%, 4/27/22		150,000		168,720
3.850%, 11/21/22		795,000		818,818
Ford Motor Credit Co. LLC
3.875%, 1/15/15		500,000		519,750
12.000%, 5/15/15		750,000		907,500
2.500%, 1/15/16		200,000		202,250
3.984%, 6/15/16		250,000		264,375
8.000%, 12/15/16		500,000		598,750
3.000%, 6/12/17		750,000		767,400
2.375%, 1/16/18		8,300,000		8,227,790
5.000%, 5/15/18		635,000		701,992
5.875%, 8/2/21		500,000		570,370
4.250%, 9/20/22		510,000		532,338
HSBC Finance Corp.
5.000%, 6/30/15		685,000		741,348
HSBC USA, Inc.
1.625%, 1/16/18		400,000		399,353
John Deere Capital Corp.
2.800%, 9/18/17		500,000		532,949
1.300%, 3/12/18		150,000		150,429
3.150%, 10/15/21		300,000		316,361
PACCAR Financial Corp.
1.550%, 9/29/14		100,000		101,394
0.700%, 11/16/15		150,000		149,612

See Notes to Portfolio of Investments.

37

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal		Value
	Amount		(Note 1)
SLM Corp.
3.875%, 9/10/15	$	250,000	$	259,375
6.250%, 1/25/16		300,000		327,750
4.625%, 9/25/17		300,000		311,859
8.000%, 3/25/20		500,000		580,000
Toyota Motor Credit Corp.
0.875%, 7/17/15		250,000		251,077
2.800%, 1/11/16		400,000		421,842
2.000%, 9/15/16		300,000		310,135
1.250%, 10/5/17		200,000		199,919
3.400%, 9/15/21		300,000		320,736
				38,552,358
Diversified Financial Services (3.7%)
Bank of America Corp.
7.375%, 5/15/14		1,000,000		1,069,283
0.610%, 9/15/14(l)		1,450,000		1,445,615
4.500%, 4/1/15		500,000		531,103
1.500%, 10/9/15		300,000		300,963
6.500%, 8/1/16		1,205,000		1,386,890
5.625%, 10/14/16		500,000		563,545
3.875%, 3/22/17		405,000		435,776
2.000%, 1/11/18		1,030,000		1,022,435
5.650%, 5/1/18		6,180,000		7,160,242
7.625%, 6/1/19		4,600,000		5,847,096
5.625%, 7/1/20		1,000,000		1,166,691
5.000%, 5/13/21		500,000		559,879
5.700%, 1/24/22		860,000		1,009,881
3.300%, 1/11/23		770,000		756,361
Bank of America N.A.
0.560%, 6/15/16(l)		1,700,000		1,655,802
5.300%, 3/15/17		500,000		559,866
Block Financial LLC
5.500%, 11/1/22		200,000		212,405
Boeing Capital Corp.
3.250%, 10/27/14		500,000		521,230
2.125%, 8/15/16		150,000		156,062
BP Capital Markets plc
3.875%, 3/10/15		350,000		371,195
3.200%, 3/11/16		500,000		531,777
1.375%, 11/6/17		200,000		200,090
4.500%, 10/1/20		500,000		567,335
3.245%, 5/6/22		300,000		310,023
2.500%, 11/6/22		150,000		146,465
Citigroup, Inc.
6.375%, 8/12/14		1,000,000		1,072,061
5.000%, 9/15/14		750,000		786,636
5.500%, 10/15/14		150,000		160,087
4.750%, 5/19/15		500,000		535,710
2.250%, 8/7/15		150,000		153,355
4.587%, 12/15/15		1,902,000		2,064,312
3.953%, 6/15/16		500,000		537,877
4.450%, 1/10/17		160,000		175,598
5.500%, 2/15/17		250,000		279,593
6.000%, 8/15/17		430,000		502,996
6.125%, 5/15/18		1,000,000		1,191,990
8.500%, 5/22/19		1,000,000		1,332,990
4.500%, 1/14/22		9,900,000		11,008,443
Credit Suisse FB USA, Inc.
5.125%, 8/15/15		1,000,000		1,096,314
Crown Castle Towers LLC
6.113%, 1/15/20§		1,495,000		1,794,000
General Electric Capital Corp.
5.900%, 5/13/14		1,000,000		1,059,863
3.500%, 6/29/15		1,000,000		1,058,940
1.000%, 12/11/15		250,000		251,353
1.000%, 1/8/16		250,000		250,048
2.950%, 5/9/16		300,000		316,981
5.400%, 2/15/17		808,000		929,581
1.600%, 11/20/17		150,000		150,551
6.000%, 8/7/19		1,500,000		1,823,568
5.300%, 2/11/21		890,000		1,022,331
4.650%, 10/17/21		500,000		556,189
3.150%, 9/7/22		300,000		299,331
3.100%, 1/9/23		620,000		611,180
Hutchison Whampoa International Ltd.
7.625%, 4/9/19(m)		700,000		891,520
JPMorgan Chase & Co.
4.650%, 6/1/14		1,000,000		1,045,626
5.125%, 9/15/14		600,000		636,820
4.750%, 3/1/15		500,000		536,427
2.000%, 8/15/17		250,000		254,828
6.000%, 1/15/18		1,500,000		1,783,421
6.300%, 4/23/19		500,000		612,915
4.400%, 7/22/20		1,000,000		1,104,536
4.625%, 5/10/21		500,000		561,883
3.250%, 9/23/22		561,000		557,061
3.200%, 1/25/23		785,000		785,369
NASDAQ OMX Group, Inc.
4.000%, 1/15/15		100,000		103,115
5.550%, 1/15/20		100,000		108,026
National Credit Union Administration Guaranteed Notes
Series A3
2.350%, 6/12/17		200,000		210,932
National Rural Utilities Cooperative Finance Corp.
3.050%, 3/1/16		300,000		318,243
5.450%, 2/1/18		300,000		355,173
Northern Rock Asset Management plc
5.625%, 6/22/17§		450,000		523,111
ORIX Corp.
4.710%, 4/27/15		250,000		264,879
Private Export Funding Corp.
4.550%, 5/15/15		200,000		216,788
4.950%, 11/15/15		200,000		223,402
1.375%, 2/15/17		50,000		51,008
2.050%, 11/15/22		125,000		123,888
RZD Capital Ltd.
5.739%, 4/3/17(b)(m)		200,000		220,000
Sasol Financing International plc
4.500%, 11/14/22		250,000		247,500
TECO Finance, Inc.
5.150%, 3/15/20		100,000		116,267
TNK-BP Finance S.A.
6.250%, 2/2/15(m)		600,000		641,168
7.500%, 7/18/16(m)		2,000,000		2,289,469
6.625%, 3/20/17(m)		1,100,000		1,251,250
7.875%, 3/13/18(m)		1,300,000		1,573,000
Transneft OJSC (TransCapitalInvest Ltd.)
8.700%, 8/7/18(m)		900,000		1,146,723
Unilever Capital Corp.
2.750%, 2/10/16		100,000		105,697
4.800%, 2/15/19		300,000		354,718

See Notes to Portfolio of Investments.

38

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Waha Aerospace B.V.
3.925%, 7/28/20§	$	1,113,750	$	1,185,300
XTRA Finance Corp.
5.150%, 4/1/17		100,000		113,789
				80,023,740
Insurance (1.2%)
ACE INA Holdings, Inc.
5.600%, 5/15/15		250,000		275,955
2.600%, 11/23/15		100,000		104,838
5.900%, 6/15/19		100,000		123,207
Aegon N.V.
4.625%, 12/1/15		300,000		326,808
Aflac, Inc.
8.500%, 5/15/19		150,000		203,169
Alleghany Corp.
5.625%, 9/15/20		100,000		114,830
Allianz Finance II B.V.
5.750%, 7/8/41(l)	EUR	200,000		284,634
Allstate Corp.
7.450%, 5/16/19	$	200,000		262,059
American Financial Group, Inc./Ohio
9.875%, 6/15/19		100,000		135,546
American International Group, Inc.
4.250%, 9/15/14		300,000		314,004
5.050%, 10/1/15		250,000		273,374
5.600%, 10/18/16		100,000		113,581
3.800%, 3/22/17		613,000		662,827
5.450%, 5/18/17		250,000		285,026
5.850%, 1/16/18		500,000		580,413
6.400%, 12/15/20		500,000		616,332
4.875%, 6/1/22		766,000		868,115
8.175%, 5/15/58(l)		6,400,000		8,640,000
Aon Corp.
3.500%, 9/30/15		250,000		264,058
5.000%, 9/30/20		100,000		115,226
Axis Specialty Finance LLC
5.875%, 6/1/20		150,000		169,866
Berkshire Hathaway Finance Corp.
4.850%, 1/15/15		400,000		429,964
4.250%, 1/15/21		300,000		332,415
Berkshire Hathaway, Inc.
1.550%, 2/9/18		150,000		151,292
Chubb Corp.
5.750%, 5/15/18		100,000		121,434
6.375%, 3/29/67(l)		200,000		219,000
CNA Financial Corp.
5.875%, 8/15/20		300,000		354,296
Genworth Financial, Inc.
8.625%, 12/15/16		200,000		240,139
7.700%, 6/15/20		250,000		299,180
Hartford Financial Services Group, Inc.
5.500%, 3/30/20		200,000		234,247
HCC Insurance Holdings, Inc.
6.300%, 11/15/19		100,000		115,228
ING U.S., Inc.
5.500%, 7/15/22§		100,000		110,646
Lincoln National Corp.
8.750%, 7/1/19		100,000		134,992
7.000%, 6/15/40		225,000		299,530
6.050%, 4/20/67(l)		300,000		302,250
Manulife Financial Corp.
3.400%, 9/17/15		840,000		885,667
Markel Corp.
7.125%, 9/30/19		100,000		123,312
5.350%, 6/1/21		100,000		112,754
Marsh & McLennan Cos., Inc.
5.750%, 9/15/15		175,000		194,674
4.800%, 7/15/21		100,000		112,600
MetLife, Inc.
6.750%, 6/1/16		300,000		351,976
4.750%, 2/8/21		250,000		286,854
Metropolitan Life Global Funding I
5.125%, 6/10/14§		775,000		816,161
Montpelier Reinsurance Holdings Ltd.
4.700%, 10/15/22		200,000		204,656
OneBeacon US Holdings, Inc.
4.600%, 11/9/22		100,000		103,413
PartnerReinsurance Finance B LLC
5.500%, 6/1/20		100,000		114,006
Principal Financial Group, Inc.
8.875%, 5/15/19		200,000		270,055
Progressive Corp.
3.750%, 8/23/21		125,000		136,774
Protective Life Corp.
7.375%, 10/15/19		100,000		120,672
Prudential Financial, Inc.
6.200%, 1/15/15		45,000		49,214
4.750%, 9/17/15		795,000		866,358
6.000%, 12/1/17		750,000		895,621
5.375%, 6/21/20		470,000		551,924
5.875%, 9/15/42(l)		562,000		597,125
Reinsurance Group of America, Inc.
6.450%, 11/15/19		100,000		120,897
Torchmark Corp.
9.250%, 6/15/19		100,000		134,154
Travelers Cos., Inc.
5.500%, 12/1/15		150,000		168,890
5.800%, 5/15/18		250,000		304,640
Unum Group
5.625%, 9/15/20		100,000		116,044
Willis North America, Inc.
5.625%, 7/15/15		365,000		394,725
				26,111,647
Real Estate Investment Trusts (REITs) (0.4%)
American Tower Corp.
4.625%, 4/1/15		150,000		160,129
5.050%, 9/1/20		350,000		388,563
AvalonBay Communities, Inc.
5.700%, 3/15/17		150,000		175,033
Boston Properties LP
3.700%, 11/15/18		200,000		219,944
5.875%, 10/15/19		300,000		363,190
Brandywine Operating Partnership LP
4.950%, 4/15/18		100,000		110,729
Camden Property Trust
4.625%, 6/15/21		200,000		225,349
CommonWealth REIT
6.650%, 1/15/18		100,000		113,498
DDR Corp.
4.625%, 7/15/22		150,000		163,168
Digital Realty Trust LP
4.500%, 7/15/15		100,000		105,882
3.625%, 10/1/22		150,000		150,047

See Notes to Portfolio of Investments.

39

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Duke Realty LP
6.750%, 3/15/20	$	150,000	$	183,365
EPR Properties
7.750%, 7/15/20		100,000		118,500
ERP Operating LP
5.125%, 3/15/16		500,000		556,676
Federal Realty Investment Trust
3.000%, 8/1/22		100,000		99,368
HCP, Inc.
3.750%, 2/1/16		100,000		106,917
6.000%, 1/30/17		200,000		231,312
3.150%, 8/1/22		100,000		99,222
Health Care REIT, Inc.
4.700%, 9/15/17		200,000		224,120
6.125%, 4/15/20		145,000		172,163
Healthcare Realty Trust, Inc.
6.500%, 1/17/17		100,000		114,974
Hospitality Properties Trust
7.875%, 8/15/14		100,000		105,791
5.625%, 3/15/17		100,000		110,536
Host Hotels & Resorts LP
4.750%, 3/1/23		100,000		107,000
Kilroy Realty LP
5.000%, 11/3/15		100,000		108,718
Kimco Realty Corp.
6.875%, 10/1/19		100,000		126,697
Liberty Property LP
4.750%, 10/1/20		200,000		219,698
Mack-Cali Realty LP
7.750%, 8/15/19		100,000		124,777
National Retail Properties, Inc.
3.800%, 10/15/22		150,000		153,762
Realty Income Corp.
5.750%, 1/15/21		250,000		291,202
Senior Housing Properties Trust
4.300%, 1/15/16		100,000		103,750
Simon Property Group LP
5.100%, 6/15/15		508,000		554,358
5.650%, 2/1/20		500,000		600,881
4.125%, 12/1/21		100,000		110,301
UDR, Inc.
4.250%, 6/1/18		200,000		220,154
Ventas Realty LP/Ventas Capital Corp.
3.125%, 11/30/15		100,000		105,418
2.000%, 2/15/18		150,000		150,841
4.250%, 3/1/22		110,000		117,864
3.250%, 8/15/22		100,000		98,918
Vornado Realty LP
5.000%, 1/15/22		250,000		277,970
Washington Real Estate Investment Trust
3.950%, 10/15/22		100,000		101,519
Weingarten Realty Investors
3.375%, 10/15/22		300,000		298,455
				8,170,759
Real Estate Management & Development (0.0%)
ProLogis LP
7.625%, 8/15/14		150,000		162,584
6.250%, 3/15/17		100,000		115,139
7.375%, 10/30/19		200,000		249,684
				527,407
Thrifts & Mortgage Finance (0.2%)
Abbey National Treasury Services plc/London
2.875%, 4/25/14		100,000		101,847
3.875%, 11/10/14§		3,900,000		4,049,106
4.000%, 4/27/16		100,000		106,707
				4,257,660
Total Financials				282,022,203
Health Care (1.4%)
Biotechnology (0.1%)
Amgen, Inc.
1.875%, 11/15/14		250,000		254,983
5.850%, 6/1/17		300,000		354,180
6.150%, 6/1/18		30,000		36,321
3.450%, 10/1/20		300,000		319,175
4.100%, 6/15/21		300,000		332,534
3.625%, 5/15/22		250,000		267,564
Biogen Idec, Inc.
6.875%, 3/1/18		100,000		122,249
Genentech, Inc.
4.750%, 7/15/15		100,000		108,932
Gilead Sciences, Inc.
4.500%, 4/1/21		300,000		338,638
				2,134,576
Health Care Equipment & Supplies (0.3%)
Abbott Laboratories
4.125%, 5/27/20		200,000		226,986
Baxter International, Inc.
5.900%, 9/1/16		200,000		233,055
4.250%, 3/15/20		100,000		113,708
2.400%, 8/15/22		100,000		97,904
Becton Dickinson and Co.
3.250%, 11/12/20		300,000		318,745
Boston Scientific Corp.
4.500%, 1/15/15		525,000		555,045
6.250%, 11/15/15		837,000		938,772
6.400%, 6/15/16		335,000		383,709
5.125%, 1/12/17		960,000		1,069,529
6.000%, 1/15/20		340,000		395,664
C.R. Bard, Inc.
2.875%, 1/15/16		100,000		104,929
CareFusion Corp.
5.125%, 8/1/14		130,000		137,192
3.300%, 3/1/23§		100,000		101,299
Covidien International Finance S.A.
2.800%, 6/15/15		100,000		104,608
4.200%, 6/15/20		100,000		112,365
DENTSPLY International, Inc.
2.750%, 8/15/16		55,000		57,097
4.125%, 8/15/21		100,000		105,924
Medtronic, Inc.
3.000%, 3/15/15		300,000		313,918
1.375%, 4/1/18		100,000		99,779
4.450%, 3/15/20		300,000		344,774
St. Jude Medical, Inc.
3.750%, 7/15/14		300,000		312,070
Stryker Corp.
3.000%, 1/15/15		100,000		104,222
4.375%, 1/15/20		100,000		113,583

See Notes to Portfolio of Investments.

40

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Zimmer Holdings, Inc.
4.625%, 11/30/19	$	150,000	$	171,033
				6,515,910
Health Care Providers & Services (0.4%)
Aetna, Inc.
3.950%, 9/1/20		350,000		382,653
AmerisourceBergen Corp.
4.875%, 11/15/19		150,000		174,882
Cardinal Health, Inc.
4.000%, 6/15/15		100,000		106,664
4.625%, 12/15/20		100,000		112,403
Cigna Corp.
5.125%, 6/15/20		215,000		248,377
4.375%, 12/15/20		100,000		110,997
Coventry Health Care, Inc.
5.450%, 6/15/21		486,000		567,405
Express Scripts Holding Co.
6.250%, 6/15/14		135,000		143,677
2.750%, 11/21/14		250,000		257,513
3.125%, 5/15/16		250,000		264,678
4.750%, 11/15/21		100,000		113,345
HCA, Inc.
Term Loan
2.704%, 3/15/14		2,700,000		2,703,375
Humana, Inc.
7.200%, 6/15/18		150,000		184,054
Laboratory Corp. of America Holdings
2.200%, 8/23/17		67,000		67,835
4.625%, 11/15/20		250,000		273,643
3.750%, 8/23/22		56,000		57,576
McKesson Corp.
4.750%, 3/1/21		250,000		288,766
2.700%, 12/15/22		150,000		149,072
2.850%, 3/15/23		200,000		200,208
Medco Health Solutions, Inc.
2.750%, 9/15/15		100,000		103,972
7.125%, 3/15/18		250,000		310,278
4.125%, 9/15/20		250,000		272,689
Quest Diagnostics, Inc.
6.400%, 7/1/17		200,000		234,626
UnitedHealth Group, Inc.
6.000%, 2/15/18		250,000		302,280
4.700%, 2/15/21		400,000		457,621
3.375%, 11/15/21		225,000		237,344
2.875%, 3/15/23		150,000		149,353
WellPoint, Inc.
4.350%, 8/15/20		650,000		722,196
3.700%, 8/15/21		226,000		239,033
				9,436,515
Life Sciences Tools & Services (0.1%)
Agilent Technologies, Inc.
6.500%, 11/1/17		100,000		119,802
Life Technologies Corp.
4.400%, 3/1/15		200,000		210,211
6.000%, 3/1/20		305,000		340,810
Thermo Fisher Scientific, Inc.
3.200%, 3/1/16		500,000		529,439
1.850%, 1/15/18		100,000		101,034
				1,301,296
Pharmaceuticals (0.5%)
AbbVie, Inc.
1.200%, 11/6/15§		400,000		403,103
1.750%, 11/6/17§		750,000		756,132
2.900%, 11/6/22§		400,000		397,625
Actavis, Inc.
5.000%, 8/15/14		125,000		131,880
6.125%, 8/15/19		130,000		157,930
3.250%, 10/1/22		200,000		201,635
Allergan, Inc.
3.375%, 9/15/20		250,000		269,220
AstraZeneca plc
5.900%, 9/15/17		200,000		240,001
Bristol-Myers Squibb Co.
5.450%, 5/1/18		200,000		239,880
Eli Lilly and Co.
5.200%, 3/15/17		300,000		346,819
GlaxoSmithKline Capital plc
2.850%, 5/8/22		250,000		256,155
GlaxoSmithKline Capital, Inc.
5.650%, 5/15/18		750,000		906,927
2.800%, 3/18/23		200,000		201,079
Hospira, Inc.
6.400%, 5/15/15		250,000		276,237
Johnson & Johnson
1.200%, 5/15/14		200,000		201,997
5.550%, 8/15/17		300,000		358,871
2.950%, 9/1/20		200,000		215,026
Merck & Co., Inc.
6.000%, 9/15/17		200,000		242,922
3.875%, 1/15/21		200,000		223,148
2.400%, 9/15/22		150,000		148,476
Novartis Capital Corp.
2.900%, 4/24/15		200,000		209,528
2.400%, 9/21/22		100,000		98,947
Novartis Securities Investment Ltd.
5.125%, 2/10/19		350,000		417,009
Pfizer, Inc.
6.200%, 3/15/19		250,000		313,693
Sanofi S.A.
2.625%, 3/29/16		250,000		263,202
4.000%, 3/29/21		200,000		222,243
Teva Pharmaceutical Finance Co. B.V.
2.950%, 12/18/22		498,000		498,846
Series 2
3.650%, 11/10/21		245,000		260,193
Teva Pharmaceutical Finance IV B.V.
3.650%, 11/10/21		435,000		461,975
Teva Pharmaceutical Finance IV LLC
2.250%, 3/18/20		100,000		100,692
Wyeth LLC
5.500%, 2/15/16		500,000		567,485
Zoetis, Inc.
1.875%, 2/1/18§		200,000		201,702
				9,790,578
Total Health Care				29,178,875
Industrials (1.1%)
Aerospace & Defense (0.2%)
Embraer Overseas Ltd.
6.375%, 1/15/20		100,000		115,166

See Notes to Portfolio of Investments.

41

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Goodrich Corp.
6.125%, 3/1/19	$	200,000	$	248,776
Honeywell International, Inc.
5.300%, 3/1/18		350,000		416,720
4.250%, 3/1/21		250,000		287,646
L-3 Communications Corp.
3.950%, 11/15/16		100,000		107,667
4.950%, 2/15/21		400,000		446,192
Lockheed Martin Corp.
2.125%, 9/15/16		250,000		258,631
3.350%, 9/15/21		250,000		261,274
Northrop Grumman Corp.
3.700%, 8/1/14		300,000		311,991
Precision Castparts Corp.
1.250%, 1/15/18		250,000		249,717
Raytheon Co.
4.400%, 2/15/20		400,000		453,843
Rockwell Collins, Inc.
5.250%, 7/15/19		50,000		59,891
Textron, Inc.
4.625%, 9/21/16		100,000		109,614
7.250%, 10/1/19		100,000		121,745
United Technologies Corp.
4.875%, 5/1/15		250,000		272,802
1.200%, 6/1/15		90,000		91,385
1.800%, 6/1/17		50,000		51,384
6.125%, 2/1/19		150,000		186,721
4.500%, 4/15/20		200,000		231,541
3.100%, 6/1/22		300,000		313,671
				4,596,377
Air Freight & Logistics (0.0%)
FedEx Corp.
8.000%, 1/15/19		100,000		131,171
United Parcel Service, Inc.
3.875%, 4/1/14		300,000		310,561
3.125%, 1/15/21		300,000		319,731
				761,463
Airlines (0.2%)
American Airlines, Inc. Series A
8.625%, 10/15/21		376,053		392,035
Continental Airlines, Inc.
9.000%, 7/8/16		207,531		238,931
Series B B
6.000%, 1/12/19		2,447,632		2,527,180
Delta Air Lines, Inc.
4.950%, 5/23/19		173,866		189,080
7.750%, 12/17/19		153,390		176,597
UAL Pass Through Trust Series 09-2
9.750%, 1/15/17		148,494		172,654
				3,696,477
Building Products (0.0%)
CRH America, Inc.
6.000%, 9/30/16		250,000		284,207
5.750%, 1/15/21		250,000		277,090
Owens Corning, Inc.
9.000%, 6/15/19		34,000		43,520
				604,817
Commercial Services & Supplies (0.1%)
ADT Corp.
3.500%, 7/15/22§		200,000		196,515
Avery Dennison Corp.
5.375%, 4/15/20		100,000		107,986
Board of Trustees of the Leland Stanford Junior University
4.250%, 5/1/16		250,000		277,170
Cornell University
5.450%, 2/1/19		200,000		244,504
Pitney Bowes, Inc.
5.750%, 9/15/17		300,000		327,000
Republic Services, Inc.
5.500%, 9/15/19		148,000		175,991
5.250%, 11/15/21		200,000		233,639
Waste Management, Inc.
7.375%, 3/11/19		200,000		253,179
4.750%, 6/30/20		100,000		113,623
2.900%, 9/15/22		200,000		197,323
Yale University
2.900%, 10/15/14		187,000		194,010
				2,320,940
Construction & Engineering (0.0%)
ABB Finance USA, Inc.
1.625%, 5/8/17		125,000		126,487
2.875%, 5/8/22		200,000		202,086
				328,573
Electrical Equipment (0.0%)
Emerson Electric Co.
4.875%, 10/15/19		250,000		296,994
Roper Industries, Inc.
1.850%, 11/15/17		100,000		100,893
				397,887
Industrial Conglomerates (0.1%)
3M Co.
1.375%, 9/29/16		100,000		102,255
Acuity Brands Lighting, Inc.
6.000%, 12/15/19		100,000		114,648
Cooper U.S., Inc.
2.375%, 1/15/16		100,000		103,354
3.875%, 12/15/20		100,000		108,318
Danaher Corp.
5.400%, 3/1/19		100,000		120,645
3.900%, 6/23/21		150,000		166,951
General Electric Co.
0.850%, 10/9/15		150,000		150,257
5.250%, 12/6/17		500,000		587,332
2.700%, 10/9/22		350,000		350,254
Ingersoll-Rand Global Holding Co., Ltd.
6.875%, 8/15/18		100,000		120,925
Koninklijke Philips Electronics N.V.
5.750%, 3/11/18		200,000		237,811
Pentair Finance S.A.
5.000%, 5/15/21(b)§		150,000		166,804
Tyco Electronics Group S.A.
4.875%, 1/15/21		200,000		224,990
				2,554,544
Machinery (0.2%)
Caterpillar, Inc.
1.375%, 5/27/14		125,000		126,316
1.500%, 6/26/17		500,000		507,556

See Notes to Portfolio of Investments.

42

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Deere & Co.
2.600%, 6/8/22	$	500,000	$	502,917
Dover Corp.
5.450%, 3/15/18		100,000		118,566
Eaton Corp.
0.950%, 11/2/15§		150,000		150,595
1.500%, 11/2/17§		150,000		149,807
2.750%, 11/2/22§		250,000		246,482
Harsco Corp.
2.700%, 10/15/15		250,000		252,500
Illinois Tool Works, Inc.
5.150%, 4/1/14		100,000		104,429
3.375%, 9/15/21		120,000		129,492
Joy Global, Inc.
5.125%, 10/15/21		160,000		178,386
Kennametal, Inc.
3.875%, 2/15/22		147,000		152,780
Pall Corp.
5.000%, 6/15/20		100,000		112,459
Snap-On, Inc.
4.250%, 1/15/18		100,000		110,498
Stanley Black & Decker, Inc.
2.900%, 11/1/22		100,000		99,922
Xylem, Inc.
3.550%, 9/20/16		250,000		266,582
				3,209,287
Professional Services (0.0%)
Dun & Bradstreet Corp.
2.875%, 11/15/15		115,000		118,598
Equifax, Inc.
4.450%, 12/1/14		100,000		104,929
3.300%, 12/15/22		100,000		98,321
Verisk Analytics, Inc.
5.800%, 5/1/21		100,000		115,500
				437,348
Road & Rail (0.2%)
Burlington Northern Santa Fe LLC
4.700%, 10/1/19		500,000		583,212
3.000%, 3/15/23		500,000		501,923
Canadian National Railway Co.
5.550%, 3/1/19		350,000		424,149
Canadian Pacific Railway Co.
7.250%, 5/15/19		100,000		127,143
CSX Corp.
6.250%, 4/1/15		150,000		166,152
6.250%, 3/15/18		300,000		363,905
3.700%, 10/30/20		100,000		108,274
JB Hunt Transport Services, Inc.
3.375%, 9/15/15		100,000		104,045
Norfolk Southern Corp.
7.700%, 5/15/17		268,000		336,091
5.900%, 6/15/19		200,000		244,148
Ryder System, Inc.
3.600%, 3/1/16		200,000		210,310
2.500%, 3/1/18		125,000		128,301
Union Pacific Corp.
5.700%, 8/15/18		250,000		302,004
				3,599,657
Trading Companies & Distributors (0.1%)
Doric Nimrod Air One Ltd.
Series 2012-1A
5.125%, 11/30/24§		600,000		655,500
GATX Corp.
4.750%, 5/15/15		100,000		106,821
3.500%, 7/15/16		100,000		106,000
International Lease Finance Corp.
3.875%, 4/15/18		700,000		699,125
				1,567,446
Total Industrials				24,074,816
Information Technology (0.8%)
Communications Equipment (0.1%)
Cisco Systems, Inc.
5.500%, 2/22/16		650,000		738,278
4.950%, 2/15/19		550,000		649,848
Harris Corp.
6.375%, 6/15/19		85,000		101,804
Motorola Solutions, Inc.
6.000%, 11/15/17		100,000		116,761
				1,606,691
Computers & Peripherals (0.1%)
Dell, Inc.
2.300%, 9/10/15		250,000		249,856
5.875%, 6/15/19		125,000		130,457
Hewlett-Packard Co.
4.750%, 6/2/14		475,000		495,093
2.350%, 3/15/15		100,000		101,994
2.200%, 12/1/15		250,000		253,349
3.000%, 9/15/16		250,000		257,269
3.750%, 12/1/20		500,000		494,327
4.375%, 9/15/21		250,000		254,664
4.050%, 9/15/22		100,000		100,930
Lexmark International, Inc.
5.125%, 3/15/20		100,000		102,000
NetApp, Inc.
2.000%, 12/15/17		100,000		100,525
				2,540,464
Electronic Equipment, Instruments & Components (0.1%)
Amphenol Corp.
4.750%, 11/15/14		100,000		105,968
Arrow Electronics, Inc.
3.375%, 11/1/15		100,000		104,144
6.000%, 4/1/20		100,000		111,277
Avnet, Inc.
5.875%, 6/15/20		250,000		272,752
Corning, Inc.
1.450%, 11/15/17		150,000		150,681
Jabil Circuit, Inc.
8.250%, 3/15/18		970,000		1,159,150
				1,903,972
Internet Software & Services (0.0%)
eBay, Inc.
1.625%, 10/15/15		100,000		102,552
3.250%, 10/15/20		100,000		107,499
2.600%, 7/15/22		250,000		248,086
Google, Inc.
1.250%, 5/19/14		250,000		252,545
2.125%, 5/19/16		100,000		104,603

See Notes to Portfolio of Investments.

43

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
3.625%, 5/19/21	$	100,000	$	110,190
				925,475
IT Services (0.2%)
Computer Sciences Corp.
6.500%, 3/15/18		200,000		230,724
Fiserv, Inc.
3.125%, 10/1/15		250,000		261,456
4.625%, 10/1/20		100,000		108,132
International Business Machines Corp.
1.250%, 5/12/14		250,000		252,310
0.550%, 2/6/15		200,000		200,270
5.700%, 9/14/17		750,000		897,037
7.625%, 10/15/18		250,000		329,073
1.875%, 8/1/22		250,000		238,356
SAIC, Inc.
4.450%, 12/1/20		200,000		213,937
Western Union Co.
5.253%, 4/1/20		400,000		429,136
				3,160,431
Office Electronics (0.0%)
Xerox Corp.
8.250%, 5/15/14		390,000		420,939
6.350%, 5/15/18		300,000		348,997
				769,936
Semiconductors & Semiconductor Equipment (0.1%)
Analog Devices, Inc.
5.000%, 7/1/14		100,000		105,261
Broadcom Corp.
2.500%, 8/15/22§		100,000		99,138
Intel Corp.
1.950%, 10/1/16		200,000		206,716
1.350%, 12/15/17		350,000		350,920
3.300%, 10/1/21		296,000		311,618
2.700%, 12/15/22		250,000		247,047
Texas Instruments, Inc.
1.375%, 5/15/14		250,000		252,704
0.450%, 8/3/15		150,000		149,308
2.375%, 5/16/16		250,000		261,852
				1,984,564
Software (0.2%)
Adobe Systems, Inc.
3.250%, 2/1/15		100,000		104,328
4.750%, 2/1/20		125,000		139,188
Autodesk, Inc.
3.600%, 12/15/22		100,000		100,671
BMC Software, Inc.
4.250%, 2/15/22		25,000		24,984
4.500%, 12/1/22		100,000		101,972
CA, Inc.
6.125%, 12/1/14		150,000		161,894
Microsoft Corp.
2.950%, 6/1/14		500,000		515,355
4.200%, 6/1/19		300,000		347,084
Oracle Corp.
5.250%, 1/15/16		500,000		561,431
1.200%, 10/15/17		350,000		348,262
5.750%, 4/15/18		600,000		724,684
2.500%, 10/15/22		400,000		393,361
Symantec Corp.
3.950%, 6/15/22		500,000		514,023
				4,037,237
Total Information Technology				16,928,770
Materials (1.0%)
Chemicals (0.3%)
Agrium, Inc.
3.150%, 10/1/22		100,000		96,399
Air Products and Chemicals, Inc.
2.000%, 8/2/16		55,000		56,957
4.375%, 8/21/19		200,000		229,684
Airgas, Inc.
3.250%, 10/1/15		200,000		210,381
Cabot Corp.
5.000%, 10/1/16		100,000		111,111
Dow Chemical Co.
8.550%, 5/15/19		310,000		416,086
4.250%, 11/15/20		600,000		657,135
3.000%, 11/15/22		150,000		147,208
E.I. du Pont de Nemours & Co.
3.250%, 1/15/15		300,000		314,271
6.000%, 7/15/18		250,000		308,197
3.625%, 1/15/21		350,000		384,290
2.800%, 2/15/23		250,000		252,255
Eastman Chemical Co.
2.400%, 6/1/17		200,000		207,913
Ecolab, Inc.
1.000%, 8/9/15		94,000		94,149
1.450%, 12/8/17		150,000		149,468
4.350%, 12/8/21		250,000		277,103
Lubrizol Corp.
8.875%, 2/1/19		145,000		200,706
LyondellBasell Industries N.V.
5.000%, 4/15/19		600,000		678,000
Methanex Corp.
3.250%, 12/15/19		100,000		101,000
Monsanto Co.
5.125%, 4/15/18		100,000		118,825
2.200%, 7/15/22		50,000		49,261
Potash Corp. of Saskatchewan, Inc.
5.250%, 5/15/14		155,000		162,843
4.875%, 3/30/20		150,000		172,437
PPG Industries, Inc.
1.900%, 1/15/16		100,000		102,736
6.650%, 3/15/18		150,000		184,814
3.600%, 11/15/20		150,000		161,072
Praxair, Inc.
4.625%, 3/30/15		253,000		273,299
4.500%, 8/15/19		200,000		231,441
2.200%, 8/15/22		100,000		97,032
2.700%, 2/21/23		100,000		100,403
RPM International, Inc.
6.125%, 10/15/19		100,000		117,513
Sherwin-Williams Co.
3.125%, 12/15/14		100,000		104,359
Valspar Corp.
7.250%, 6/15/19		100,000		122,351
				6,890,699

See Notes to Portfolio of Investments.

44

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Containers & Packaging (0.1%)
Bemis Co., Inc.
6.800%, 8/1/19	$	100,000	$	121,265
Packaging Corp of America
3.900%, 6/15/22		100,000		101,000
Rock-Tenn Co.
4.000%, 3/1/23		455,000		461,679
				683,944
Metals & Mining (0.5%)
Alcoa, Inc.
6.150%, 8/15/20		500,000		543,433
Allegheny Technologies, Inc.
9.375%, 6/1/19		200,000		257,781
Barrick Gold Corp.
1.750%, 5/30/14		150,000		151,639
2.900%, 5/30/16		200,000		210,557
6.950%, 4/1/19		150,000		185,148
Barrick North America Finance LLC
4.400%, 5/30/21		250,000		269,334
BHP Billiton Finance USA Ltd.
5.500%, 4/1/14		500,000		525,181
6.500%, 4/1/19		500,000		633,452
2.875%, 2/24/22		300,000		305,711
Cliffs Natural Resources, Inc.
3.950%, 1/15/18		150,000		150,782
4.800%, 10/1/20		105,000		103,570
CSN Islands VIII Corp.
9.750%, 12/16/13(m)		1,500,000		1,576,611
Freeport-McMoRan Copper & Gold, Inc.
2.375%, 3/15/18§		150,000		150,817
3.100%, 3/15/20§		627,000		634,128
3.550%, 3/1/22		528,000		523,358
3.875%, 3/15/23§		593,000		591,364
5.450%, 3/15/43§		195,000		192,223
Goldcorp, Inc.
2.125%, 3/15/18		100,000		100,013
Newmont Mining Corp.
5.125%, 10/1/19		100,000		115,648
3.500%, 3/15/22		500,000		502,826
Nucor Corp.
5.850%, 6/1/18		150,000		181,003
Rio Tinto Alcan, Inc.
5.000%, 6/1/15		200,000		217,000
Rio Tinto Finance USA Ltd.
8.950%, 5/1/14		360,000		391,707
9.000%, 5/1/19		500,000		691,557
4.125%, 5/20/21		250,000		269,998
Rio Tinto Finance USA plc
2.875%, 8/21/22		250,000		243,887
Southern Copper Corp.
3.500%, 11/8/22		67,000		66,424
Teck Resources Ltd.
4.500%, 1/15/21		100,000		106,750
Vale Overseas Ltd.
6.250%, 1/11/16		250,000		278,264
4.625%, 9/15/20		350,000		369,454
Xstrata Canada Corp.
5.500%, 6/15/17		224,000		253,733
				10,793,353
Paper & Forest Products (0.1%)
Celulosa Arauco y Constitucion S.A.
5.000%, 1/21/21		250,000		263,829
International Paper Co.
5.300%, 4/1/15		100,000		107,957
9.375%, 5/15/19		400,000		547,555
4.750%, 2/15/22		1,279,000		1,436,387
6.000%, 11/15/41		240,000		279,788
				2,635,516
Total Materials				21,003,512
Telecommunication Services (1.2%)
Diversified Telecommunication Services (0.5%)
AT&T, Inc.
2.500%, 8/15/15		500,000		518,903
0.800%, 12/1/15		200,000		199,352
2.400%, 8/15/16		250,000		260,520
1.700%, 6/1/17		300,000		303,365
1.400%, 12/1/17		300,000		297,234
5.500%, 2/1/18		500,000		588,381
4.450%, 5/15/21		600,000		673,647
2.625%, 12/1/22		150,000		144,270
BellSouth Corp.
5.200%, 9/15/14		250,000		265,462
British Telecommunications plc
5.950%, 1/15/18		250,000		297,911
Deutsche Telekom International Finance B.V.
4.875%, 7/8/14		500,000		529,095
6.750%, 8/20/18		200,000		246,848
France Telecom S.A.
4.375%, 7/8/14		250,000		260,679
5.375%, 7/8/19		200,000		233,332
4.125%, 9/14/21		100,000		106,836
Qwest Corp.
6.500%, 6/1/17		250,000		290,625
Telecom Italia Capital S.A.
6.175%, 6/18/14		600,000		627,028
6.999%, 6/4/18		250,000		283,428
7.175%, 6/18/19		100,000		114,076
Telefonica Emisiones S.A.U.
3.992%, 2/16/16		200,000		207,243
6.221%, 7/3/17		200,000		223,511
5.134%, 4/27/20		180,000		188,901
5.462%, 2/16/21		250,000		267,027
Telefonos de Mexico S.A.B. de C.V.
5.500%, 11/15/19		100,000		115,862
Verizon Communications, Inc.
5.550%, 2/15/16		600,000		677,255
5.500%, 2/15/18		750,000		882,357
4.600%, 4/1/21		500,000		561,079
2.450%, 11/1/22		200,000		188,968
3.850%, 11/1/42		798,000		692,286
Virgin Media Secured Finance plc
6.500%, 1/15/18		1,526,000		1,625,190
5.250%, 1/15/21		250,000		261,875
				12,132,546
Wireless Telecommunication Services (0.7%)
America Movil S.A.B. de C.V.
2.375%, 9/8/16		1,200,000		1,233,771
5.625%, 11/15/17		100,000		116,080
5.000%, 3/30/20		4,500,000		5,040,328

See Notes to Portfolio of Investments.

45

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
3.125%, 7/16/22	$	623,000	$	608,112
4.375%, 7/16/42		231,000		211,244
Cellco Partnership/Verizon Wireless Capital LLC
8.500%, 11/15/18		300,000		398,603
Rogers Communications, Inc.
6.800%, 8/15/18		250,000		313,755
Vodafone Group plc
4.150%, 6/10/14		500,000		520,308
5.000%, 9/15/15		300,000		329,293
5.450%, 6/10/19		300,000		355,406
2.500%, 9/26/22		250,000		239,770
2.950%, 2/19/23		250,000		248,269
Term Loan
6.875%, 8/11/15		4,200,000		4,284,000
6.875%, 8/17/15		451,615		460,648
				14,359,587
Total Telecommunication Services				26,492,133
Utilities (1.7%)
Electric Utilities (1.1%)
American Electric Power Co., Inc.
1.650%, 12/15/17		100,000		100,168
Arizona Public Service Co.
5.800%, 6/30/14		250,000		265,766
Carolina Power & Light Co.
5.300%, 1/15/19		250,000		299,591
Cleveland Electric Illuminating Co.
8.875%, 11/15/18		187,000		246,056
5.950%, 12/15/36		90,000		102,271
Commonwealth Edison Co.
6.150%, 9/15/17		500,000		605,821
Dayton Power & Light Co.
5.125%, 10/1/13		900,000		920,207
Detroit Edison Co.
5.600%, 6/15/18		100,000		120,243
DTE Electric Co.
2.650%, 6/15/22		250,000		254,138
Duke Energy Carolinas LLC
4.300%, 6/15/20		600,000		688,859
4.250%, 12/15/41		450,000		459,267
Duke Energy Corp.
2.150%, 11/15/16		400,000		412,684
5.050%, 9/15/19		100,000		117,544
Electricite de France S.A.
5.250%, 12/31/49(b)(l)§		250,000		246,250
Entergy Arkansas, Inc.
3.750%, 2/15/21		2,700,000		2,905,169
Entergy Texas, Inc.
7.125%, 2/1/19		250,000		310,693
FirstEnergy Corp.
4.250%, 3/15/23		200,000		202,287
FirstEnergy Solutions Corp.
4.800%, 2/15/15		500,000		532,027
Florida Power & Light Co.
5.550%, 11/1/17		100,000		119,668
5.950%, 2/1/38		189,000		248,623
Florida Power Corp.
4.550%, 4/1/20		50,000		58,003
3.100%, 8/15/21		100,000		105,838
5.900%, 3/1/33		82,000		100,624
Georgia Power Co.
3.000%, 4/15/16		370,000		394,271
5.400%, 6/1/18		300,000		358,056
Hydro-Quebec
7.500%, 4/1/16		300,000		353,321
2.000%, 6/30/16		200,000		207,975
8.400%, 1/15/22		1,150,000		1,640,697
Series IO
8.050%, 7/7/24		1,180,000		1,719,134
Indiana Michigan Power Co.
7.000%, 3/15/19		250,000		314,806
Ipalco Enterprises, Inc.
5.000%, 5/1/18		1,150,000		1,239,137
Jersey Central Power & Light Co.
7.350%, 2/1/19		132,000		168,546
Kansas City Power & Light Co.
5.850%, 6/15/17		200,000		225,995
LG&E and KU Energy LLC
2.125%, 11/15/15		250,000		255,988
3.750%, 11/15/20		300,000		319,035
MidAmerican Energy Co.
4.650%, 10/1/14		100,000		106,668
MidAmerican Energy Holdings Co.
5.750%, 4/1/18		100,000		119,978
5.950%, 5/15/37		434,000		533,601
6.500%, 9/15/37		400,000		525,128
Nevada Power Co.
7.125%, 3/15/19		300,000		388,523
NextEra Energy Capital Holdings, Inc.
7.875%, 12/15/15		300,000		352,752
Northern States Power Co.
1.950%, 8/15/15		100,000		103,134
5.250%, 3/1/18		150,000		178,055
NSTAR Electric Co.
2.375%, 10/15/22		250,000		245,314
Ohio Power Co.
6.050%, 5/1/18		100,000		120,398
Oncor Electric Delivery Co. LLC
6.800%, 9/1/18		200,000		248,959
Pacific Gas & Electric Co.
3.500%, 10/1/20		250,000		267,889
4.250%, 5/15/21		100,000		112,065
PacifiCorp
5.500%, 1/15/19		250,000		303,412
Peco Energy Co.
5.000%, 10/1/14		100,000		106,379
2.375%, 9/15/22		250,000		247,354
Portland General Electric Co.
6.100%, 4/15/19		100,000		124,513
Progress Energy, Inc.
5.625%, 1/15/16		200,000		224,835
Public Service Co. of Colorado
3.200%, 11/15/20		250,000		269,023
Public Service Co. of Oklahoma
4.400%, 2/1/21		400,000		448,753
Southern California Edison Co.
Series 08-A
5.950%, 2/1/38		150,000		195,069
Southern Co.
4.150%, 5/15/14		125,000		129,632
1.950%, 9/1/16		110,000		113,459

See Notes to Portfolio of Investments.

46

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Tampa Electric Co.
6.100%, 5/15/18	$	75,000	$	92,459
Trans-Allegheny Interstate Line Co.
4.000%, 1/15/15§		395,000		415,928
Virginia Electric & Power Co.
5.400%, 1/15/16		300,000		338,245
Wisconsin Electric Power Co.
2.950%, 9/15/21		250,000		262,454
				23,192,737
Gas Utilities (0.1%)
AGL Capital Corp.
3.500%, 9/15/21		250,000		268,977
Boardwalk Pipelines LP
5.750%, 9/15/19		200,000		231,675
CenterPoint Energy Resources Corp.
4.500%, 1/15/21		300,000		340,443
DCP Midstream Operating LP
3.875%, 3/15/23		100,000		100,958
El Paso Pipeline Partners Operating Co. LLC
5.000%, 10/1/21		250,000		279,500
Panhandle Eastern Pipe Line Co. LP
6.200%, 11/1/17		200,000		236,097
Questar Corp.
2.750%, 2/1/16		85,000		88,839
				1,546,489
Independent Power Producers & Energy Traders (0.3%)
Constellation Energy Group, Inc.
5.150%, 12/1/20		250,000		285,744
NRG Energy, Inc.
7.625%, 1/15/18		1,500,000		1,706,250
PSEG Power LLC
5.125%, 4/15/20		200,000		228,727
Tennessee Valley Authority
5.500%, 7/18/17		676,000		811,493
3.875%, 2/15/21		500,000		582,572
5.250%, 9/15/39		2,815,000		3,605,587
TransAlta Corp.
4.750%, 1/15/15		200,000		211,734
4.500%, 11/15/22		150,000		152,223
				7,584,330
Multi-Utilities (0.2%)
Alliant Energy Corp.
4.000%, 10/15/14		200,000		208,672
Consolidated Edison Co. of New York, Inc.
7.125%, 12/1/18		100,000		129,328
Series 08-A
5.850%, 4/1/18		100,000		121,102
Consumers Energy Co.
6.700%, 9/15/19		250,000		322,311
Dominion Resources, Inc.
5.150%, 7/15/15		283,000		310,316
1.950%, 8/15/16		622,000		641,462
6.000%, 11/30/17		400,000		480,208
2.750%, 9/15/22		250,000		248,938
National Grid plc
6.300%, 8/1/16		100,000		115,845
NiSource Finance Corp.
6.400%, 3/15/18		200,000		240,016
NSTAR LLC
4.500%, 11/15/19		100,000		114,226
PG&E Corp.
5.750%, 4/1/14		101,000		106,129
Sempra Energy
9.800%, 2/15/19		350,000		491,051
2.875%, 10/1/22		175,000		174,355
				3,703,959
Total Utilities				36,027,515
Total Corporate Bonds				546,749,354
Government Securities (76.5%)
Agency ABS (0.5%)
Small Business Administration
Series 2008-P10B
5.944% 8/10/18		1,566,360		1,745,765
Small Business Administration Participation Certificates
Series 2004-20A
4.930% 1/1/24		297,957		328,555
Series 2004-20C 1
4.340% 3/1/24		2,131,228		2,338,054
Series 2005-20B 1
4.625% 2/1/25		202,816		225,957
Series 2008-20A 1
5.170% 1/1/28		575,511		658,557
Series 2008-20C
5.490% 3/1/28		2,076,408		2,397,439
Series 2008-20G 1
5.870% 7/1/28		2,159,640		2,533,344
				10,227,671
Agency CMO (21.4%)
Federal Home Loan Mortgage Corp.
6.000% 1/1/14		1,093		1,111
5.500% 2/1/14		3,470		3,669
6.000% 7/1/14		1,232		1,264
6.000% 2/1/17		57,963		62,166
6.000% 3/1/17		2,640		2,834
6.500% 3/1/17		18,396		19,659
6.000% 4/1/17		39,692		42,687
6.000% 5/1/17		848		918
4.879% 5/19/17		3,500,000		3,925,734
6.000% 7/1/17		9,697		10,499
6.000% 8/1/17		20,382		22,023
5.500% 11/1/17		21,602		23,259
1.559% 12/25/18 IO(l)		1,824,042		139,621
1.784% 5/25/19 IO(l)		1,466,385		135,770
3.974% 1/25/21(l)		1,440,000		1,617,927
1.514% 6/25/22 IO(l)		3,743,533		407,214
1.316% 8/25/22 IO(l)		2,457,137		237,581
0.934% 10/25/22(l)		3,803,729		259,724
2.682% 10/25/22		540,000		553,475
2.615% 1/25/23		1,080,000		1,081,570
5.500% 1/15/31		54,290		54,841
2.424% 11/1/31(l)		11,327		12,047
2.824% 4/1/36(l)		304,364		326,141
5.000% 3/1/38		4,592,861		4,938,581
5.500% 4/1/38		8,574		9,286
5.500% 1/1/40		50,698		54,904
4.000% 9/1/40		62,247		66,169
4.000% 10/1/40		229,079		245,230
4.000% 6/1/41		229,879		244,363

See Notes to Portfolio of Investments.

47

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
4.500% 10/1/41	$	3,136,606	$	3,355,188
3.500% 11/1/42		2,156,980		2,271,401
3.000% 3/1/43		1,525,000		1,568,120
3.500% 5/15/43 TBA		2,400,000		2,519,718
4.000% 5/15/43 TBA		2,300,000		2,442,043
4.500% 5/15/43 TBA		500,000		534,883
5.500% 5/15/43 TBA		1,700,000		1,843,172
Federal National Mortgage Association
7.000% 4/1/15		5,755		5,974
7.000% 4/1/16		10,373		10,931
5.500% 2/1/17		22,488		24,007
5.500% 6/1/17		6,681		7,157
4.123% 2/25/18 IO(l)		5,060,000		832,314
4.000% 4/1/23		10,521		11,254
4.843% 2/1/24(l)		1,138		1,231
5.121% 6/1/24(l)		273		280
4.500% 12/1/24		164,999		177,690
4.000% 9/1/25		297,417		318,132
4.000% 1/1/26		500,640		535,509
4.000% 4/1/26		126,802		137,456
4.000% 7/1/26		660,837		706,863
4.000% 8/1/26		341,083		364,839
3.500% 4/1/27		783,780		830,929
3.500% 6/1/27		1,547,465		1,640,555
2.500% 12/1/27		196,361		204,170
2.364% 1/1/28(l)		96,479		101,116
3.000% 2/1/28		437,801		461,726
4.500% 4/1/28		28,389		30,857
4.500% 4/1/29		887,751		966,018
4.500% 6/1/29		15,943		17,348
4.500% 8/1/29		258,979		281,812
4.500% 9/1/29		1,164,357		1,267,011
4.500% 10/1/29		57,168		62,209
4.500% 3/1/30		593,955		647,063
4.500% 6/1/30		229,655		250,190
4.500% 7/1/31		254,701		278,111
2.250% 3/1/33(l)		109,185		113,782
5.310% 8/25/33		581,321		603,500
6.000% 2/1/34		328,107		369,864
5.000% 7/1/34		1,514,457		1,649,457
6.500% 7/25/34		77,770		81,482
6.000% 8/1/34		190,760		213,285
5.500% 2/1/35		860,011		947,019
5.000% 3/1/35		876,502		952,990
6.000% 4/1/35		2,958,558		3,327,392
5.000% 5/1/35		75,550		82,143
5.000% 6/1/35		368,210		400,687
5.000% 7/1/35		524,934		571,605
4.500% 8/1/35		277,197		298,603
5.000% 10/1/35		326,422		354,827
5.500% 12/1/35		607,402		668,855
2.595% 1/1/36(l)		1,848,431		1,985,291
5.000% 7/1/36		296,596		321,923
4.500% 7/1/37		66,574		71,736
4.500% 8/1/37		79,980		86,132
6.000% 2/1/38		203,350		223,018
6.000% 3/1/38		76,953		84,564
4.500% 4/1/38		797,199		858,515
6.000% 5/1/38		223,088		245,362
5.000% 6/1/38		298,508		323,252
6.000% 10/1/38		74,410		81,630
6.000% 12/1/38		95,571		104,725
4.500% 2/1/39		3,549,114		3,822,091
4.500% 3/1/39		3,209,813		3,456,692
4.500% 4/1/39		1,993,874		2,147,231
4.500% 5/1/39		39,075		42,081
4.500% 7/1/39		3,231,665		3,521,152
4.500% 1/1/40		159,994		172,300
6.000% 4/1/40		567,834		621,867
6.500% 5/1/40		3,422,645		3,817,853
5.000% 7/1/40		580,040		628,120
4.500% 8/1/40		721,068		777,429
4.000% 9/1/40		764,939		816,193
4.500% 9/1/40		732,476		790,645
4.000% 10/1/40		302,049		327,499
4.000% 11/1/40		1,711,961		1,828,023
4.500% 11/1/40		107,248		115,765
2.376% 12/1/40(l)		45,744		47,937
4.000% 12/1/40		14,112,517		15,174,418
4.000% 1/1/41		2,390,553		2,566,826
4.500% 2/1/41		399,314		431,275
4.500% 3/1/41		312,672		337,698
4.000% 4/1/41		1,724,706		1,840,383
4.500% 4/1/41		1,436,286		1,551,235
5.500% 4/1/41		85,764		94,119
4.500% 5/1/41		3,568,292		3,854,261
3.328% 6/1/41(l)		423,114		449,523
4.500% 6/1/41		2,825,970		3,052,158
4.500% 7/1/41		13,156,143		14,209,332
5.000% 7/1/41		89,931		97,947
4.500% 8/1/41		13,876,769		14,996,126
5.000% 8/1/41		76,451		83,265
3.499% 9/1/41(l)		297,450		316,891
4.500% 9/1/41		3,190,019		3,447,339
4.500% 10/1/41		886,285		954,453
4.500% 1/1/42		896,772		970,230
4.500% 2/1/42		2,177,707		2,356,092
4.000% 4/1/42		275,770		298,360
4.000% 6/1/42		888,536		950,074
4.000% 8/1/42		1,060,607		1,132,405
4.500% 8/1/42		1,820,135		1,969,885
4.000% 9/1/42		3,412,908		3,655,678
4.500% 9/1/42		1,168,189		1,258,039
4.000% 10/1/42		2,154,842		2,300,715
4.500% 11/1/42		482,862		520,001
3.500% 12/1/42		1,648,342		1,741,190
3.000% 3/1/43		5,738,889		5,923,615
3.500% 3/1/43		2,500,000		2,642,383
3.000% 4/1/43		700,000		722,836
2.500% 4/25/28 TBA		1,200,000		1,244,906
3.000% 4/25/28 TBA		17,500,000		18,406,446
3.500% 4/25/28 TBA		800,000		848,125
4.500% 4/25/28 TBA		4,400,000		4,736,875
3.000% 4/25/43 TBA		2,500,000		2,577,930
3.500% 4/25/43 TBA		6,100,000		6,440,204
4.500% 4/25/43 TBA		22,000,000		23,701,344
5.000% 4/25/43 TBA		192,000,000		208,020,000
3.000% 5/25/43 TBA		2,300,000		2,365,496
4.500% 5/25/43 TBA		3,300,000		3,551,238
5.000% 5/25/43 TBA		400,000		433,203
5.500% 5/25/43 TBA		1,300,000		1,416,696
FREMF Mortgage Trust
4.023% 11/25/44(l)§		120,000		121,739
3.563% 8/25/45(l)§		335,000		347,068

See Notes to Portfolio of Investments.

48

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
3.656% 10/25/45(l)§	$	260,000	$	263,929
3.617% 11/25/45(l)§		130,000		131,317
Government National Mortgage Association
1.750% 7/20/27(l)		5,186		5,392
6.500% 6/20/32		74,145		86,143
5.500% 4/15/33		11,641		12,941
4.000% 9/15/40		348,930		381,765
4.000% 3/15/41		198,295		216,583
4.500% 5/20/41		3,205,583		3,518,503
4.000% 8/15/41		89,419		97,498
4.000% 10/15/41		88,163		96,128
4.000% 12/15/41		87,475		95,379
4.500% 2/15/42		3,078,759		3,376,533
4.000% 3/15/42		84,497		92,131
4.000% 7/15/42		727,179		793,372
1.013% 2/16/53 IO(l)		2,064,894		179,722
3.500% 4/15/43 TBA		100,000		106,938
4.000% 4/15/43 TBA		3,300,000		3,570,703
4.500% 4/15/43 TBA		1,500,000		1,639,922
5.000% 4/15/43 TBA		3,000,000		3,265,312
5.500% 4/15/43 TBA		1,000,000		1,095,625
				460,297,919
Foreign Governments (3.9%)
Canadian Government Bond
2.375% 9/10/14		400,000		411,861
0.875% 2/14/17		350,000		352,400
Development Bank of Japan
5.125% 2/1/17		200,000		231,302
Eksportfinans ASA
1.875% 4/2/13		500,000		500,000
0.505% 4/5/13(l)		300,000		299,475
1.600% 3/20/14	JPY	2,000,000		20,694
3.000% 11/17/14	$	400,000		398,000
2.000% 9/15/15		1,200,000		1,152,000
2.375% 5/25/16		800,000		761,000
5.500% 5/25/16		1,155,000		1,199,756
2.875% 11/16/16	CHF	100,000		104,395
5.500% 6/26/17	$	700,000		726,250
European Bank for Reconstruction & Development
1.500% 3/16/20		150,000		150,247
Export Development Canada
2.250% 5/28/15		250,000		259,899
1.250% 10/26/16		250,000		255,515
Export-Import Bank of China
5.250% 7/29/14§		3,700,000		3,908,680
Export-Import Bank of Korea
5.875% 1/14/15		250,000		270,975
4.125% 9/9/15		200,000		213,980
1.750% 2/27/18		200,000		200,081
4.000% 1/29/21		1,500,000		1,614,150
Federative Republic of Brazil
6.000% 1/17/17		500,000		581,807
8.000% 1/15/18		420,000		490,350
4.875% 1/22/21		750,000		869,421
FMS Wertmanagement AoeR
1.000% 11/21/17		200,000		199,980
Italy Buoni Poliennali Del Tesoro
4.000% 2/1/37	EUR	400,000		442,802
Japan Finance Corp.
2.500% 1/21/16	$	750,000		789,579
2.250% 7/13/16		500,000		524,969
Japan Finance Organization for Municipalities
5.000% 5/16/17		500,000		578,932
Korea Development Bank
3.250% 3/9/16		300,000		315,900
3.500% 8/22/17		200,000		214,340
Korea Finance Corp.
4.625% 11/16/21		250,000		277,725
Province of British Columbia
2.850% 6/15/15		300,000		315,656
2.100% 5/18/16		300,000		314,156
2.000% 10/23/22		100,000		98,206
Province of Manitoba
1.375% 4/28/14		100,000		101,016
4.900% 12/6/16		500,000		571,929
Province of New Brunswick
2.750% 6/15/18		250,000		268,309
Province of Nova Scotia
5.125% 1/26/17		250,000		288,762
Province of Ontario
4.100% 6/16/14		500,000		522,191
1.875% 9/15/15		1,750,000		1,803,643
1.100% 10/25/17		250,000		249,936
4.000% 10/7/19		750,000		857,221
4.400% 4/14/20		250,000		292,780
2.450% 6/29/22		250,000		252,137
Province of Quebec
4.600% 5/26/15		750,000		815,638
3.500% 7/29/20		500,000		553,335
2.625% 2/13/23		150,000		150,884
Republic of Chile
3.875% 8/5/20		250,000		274,801
Republic of Colombia
8.250% 12/22/14		400,000		451,907
4.375% 7/12/21		600,000		670,100
Republic of Germany
0.100% 4/15/23	EUR	2,975,018		4,056,715
Republic of Italy
4.500% 1/21/15	$	1,000,000		1,040,379
5.250% 9/20/16		750,000		807,569
4.750% 6/1/17	EUR	260,000		350,255
5.250% 8/1/17		1,265,000		1,739,994
Republic of Korea
5.750% 4/16/14	$	4,400,000		4,624,400
4.875% 9/22/14		300,000		317,820
7.125% 4/16/19		9,650,000		12,485,170
Republic of Panama
5.200% 1/30/20		300,000		349,234
9.375% 4/1/29		298,000		482,015
Republic of Peru
8.375% 5/3/16		100,000		121,469
7.125% 3/30/19		200,000		256,000
Republic of Poland
6.375% 7/15/19		750,000		914,293
5.125% 4/21/21		570,000		653,968
Republic of South Africa
6.500% 6/2/14		1,480,000		1,566,729
6.875% 5/27/19		300,000		364,973
5.500% 3/9/20		300,000		342,872
State of Israel
5.500% 11/9/16		500,000		569,838
Svensk Exportkredit AB
3.250% 9/16/14		250,000		260,163

See Notes to Portfolio of Investments.

49

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
1.750% 10/20/15	$	500,000	$	514,110
United Kingdom Gilt
1.750% 9/7/22	GBP	15,200,000		23,054,991
United Mexican States
5.625% 1/15/17	$	840,000		967,364
5.125% 1/15/20		235,000		274,739
3.625% 3/15/22		1,050,000		1,116,134
				84,400,266
Municipal Bonds (2.5%)
California State University Trustees for Systemwide Refunding, Revenue Bonds, Series 2005A
5.000% 11/1/30		300,000		320,631
City of New York Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series 2010GG
6.124% 6/15/42		500,000		588,955
City of New York Municipal Water Finance Authority, Water & Sewer System, Revenue Bonds, Series 2011EE
5.375% 6/15/43		635,000		734,193
5.500% 6/15/43		750,000		887,648
City of New York Transitional Finance Authority, Future Tax Secured Bonds, Revenue Bonds, Series 2011B
4.075% 11/1/20		800,000		902,528
4.325% 11/1/21		1,300,000		1,491,646
4.525% 11/1/22		1,800,000		2,088,612
City of New York, General Obligation Bonds, Series 2010H-1
6.246% 6/1/35		5,400,000		6,454,836
County of Los Angeles Community College District, General Obligation Bonds, Series 2001A
5.000% 8/1/27		1,100,000		1,246,388
County of Los Angeles Public Works Financing Authority, Revenue Bonds, Series 2010-A2
5.591% 8/1/20		3,700,000		4,200,055
County of Los Angeles Public Works Financing Authority, Revenue Bonds, Series 2010-B
5.841% 8/1/21		400,000		458,928
County of Los Angeles Unified School District, General Obligation Bonds, Series 2007A-1
4.500% 7/1/22		1,500,000		1,689,615
County of San Diego Regional Airport Authority, Revenue Bonds, Series 2010C
6.628% 7/1/40		700,000		787,003
County of Santa Clara Union School District, General Obligation Bonds, Series 2001B
5.000% 8/1/30		160,000		162,520
Dallas Area Rapid Transit, Senior Lien, Revenue Bonds, Series 2009B
6.249% 12/1/34		400,000		469,240
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Revenue Bonds, Series 2009B
6.875% 12/15/39		4,400,000		5,057,756
New Jersey Turnpike Authority, Revenue Bonds, Series 2009F
7.414% 1/1/40		1,000,000		1,458,450
Northern California Power Agency, Lodi Energy Center, Revenue Bonds, Series 2010B
7.311% 6/1/40		2,075,000		2,647,721
Regents of the University of California Medical Center, Revenue Bonds, Series 2010H
5.235% 5/15/22		1,500,000		1,762,815
5.435% 5/15/23		1,975,000		2,346,241
San Francisco Bay Area Toll Authority, Subordinate Toll Bridge, Revenue Bonds, Series 2010-S1
6.793% 4/1/30		4,100,000		5,254,970
State of California, Various Purposes, General Obligation Bonds, Series 2009
4.850% 10/1/14		250,000		263,857
5.950% 4/1/16		35,000		40,087
5.750% 3/1/17		100,000		117,249
6.200% 3/1/19		100,000		121,584
6.200% 10/1/19		100,000		122,558
7.550% 4/1/39		3,000,000		4,331,010
State of Illinois, General Obligation Bonds, Series 2010
4.421% 1/1/15		100,000		105,062
State of Illinois, General Obligation Bonds, Series 2011
4.961% 3/1/16		300,000		327,846
5.665% 3/1/18		300,000		342,723
State of Illinois, Revenue Bonds, Series 2009A
6.184% 1/1/34		1,000,000		1,267,550
State of Iowa IJOBS Program, Revenue Bonds, Series 2009B
6.750% 6/1/34		1,800,000		2,140,650
State of New Jersey Economic Development Authority, Pension Funding Bonds, Revenue Bonds, Series 2010B
1.280% 6/15/13(l)		3,000,000		3,002,760
				53,193,687
Supranational (1.2%)
African Development Bank
3.000% 5/27/14		200,000		206,225
2.500% 3/15/16		500,000		528,884
Asian Development Bank
2.750% 5/21/14		500,000		513,907
2.625% 2/9/15		500,000		521,114
2.500% 3/15/16		500,000		529,944
1.125% 3/15/17		350,000		355,488
1.875% 10/23/18		250,000		260,786
1.375% 3/23/20		150,000		149,414
Corp. Andina de Fomento
3.750% 1/15/16		200,000		211,475
8.125% 6/4/19		250,000		324,753
Council of Europe Development Bank
2.625% 2/16/16		500,000		528,167
1.500% 6/19/17		250,000		255,463
1.000% 3/7/18		350,000		348,057
European Bank for Reconstruction & Development
1.625% 9/3/15		150,000		154,216
2.500% 3/15/16		400,000		423,126
1.375% 10/20/16		200,000		205,415
1.000% 2/16/17		300,000		303,030
0.750% 9/1/17		150,000		149,580
1.000% 6/15/18		100,000		99,995
European Investment Bank
4.625% 5/15/14		2,000,000		2,093,741
1.125% 8/15/14		1,000,000		1,009,127
1.000% 7/15/15		750,000		757,073
1.625% 9/1/15		750,000		768,442
4.875% 2/16/16		1,334,000		1,494,221
2.500% 5/16/16		2,000,000		2,111,904

See Notes to Portfolio of Investments.

50

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
4.875% 1/17/17	$	500,000	$	575,437
1.125% 9/15/17		500,000		502,764
1.000% 12/15/17		450,000		448,708
2.875% 9/15/20		500,000		539,180
4.000% 2/16/21		500,000		578,655
Inter-American Development Bank
3.000% 4/22/14		1,000,000		1,028,196
1.375% 10/18/16		1,000,000		1,026,789
4.250% 9/10/18		750,000		879,046
International Bank for Reconstruction & Development
1.125% 8/25/14		350,000		354,136
2.375% 5/26/15		1,000,000		1,042,850
2.125% 3/15/16		1,000,000		1,048,082
5.000% 4/1/16		150,000		170,149
0.500% 4/15/16		500,000		500,172
0.875% 4/17/17		500,000		501,729
2.125% 2/13/23		100,000		100,593
International Finance Corp.
3.000% 4/22/14		750,000		771,308
1.000% 4/24/17		500,000		504,986
2.125% 11/17/17		500,000		528,611
Nordic Investment Bank
2.500% 7/15/15		300,000		313,949
0.500% 4/14/16		300,000		299,678
5.000% 2/1/17		300,000		348,986
North American Development Bank
2.400% 10/26/22		150,000		144,772
				26,512,323
U.S. Government Agencies (3.8%)
Federal Farm Credit Bank
5.125% 8/25/16		685,000		790,825
4.875% 1/17/17		840,000		973,795
Federal Home Loan Bank
0.240% 4/22/14		1,500,000		1,499,662
1.375% 5/28/14		250,000		253,236
5.500% 8/13/14		500,000		535,693
0.250% 1/16/15		500,000		499,512
0.350% 2/20/15		250,000		250,004
2.875% 6/12/15		2,000,000		2,110,524
1.630% 8/20/15		500,000		514,584
0.500% 11/20/15		350,000		350,950
5.625% 6/13/16		1,550,000		1,779,563
4.750% 12/16/16		500,000		576,860
5.250% 6/5/17		1,350,000		1,593,931
1.000% 6/21/17		350,000		354,706
1.050% 7/26/17		1,000,000		1,000,072
1.050% 11/15/17		300,000		298,491
5.000% 11/17/17		1,000,000		1,191,357
4.125% 3/13/20		1,500,000		1,762,730
Federal Home Loan Mortgage Corp.
0.375% 4/28/14		1,000,000		1,001,195
3.000% 7/28/14		1,500,000		1,553,944
0.625% 12/29/14		2,000,000		2,011,937
0.800% 1/13/15		100,000		100,462
4.500% 1/15/15		1,000,000		1,075,227
2.875% 2/9/15		2,000,000		2,096,322
0.550% 2/27/15		500,000		501,422
0.420% 6/19/15		750,000		750,514
0.500% 8/28/15		750,000		751,654
0.420% 9/18/15		500,000		499,636
0.500% 9/25/15		1,200,000		1,200,808
4.750% 11/17/15		928,000		1,033,253
0.500% 11/27/15		500,000		500,156
0.850% 2/24/16		500,000		502,375
5.500% 7/18/16		1,000,000		1,162,908
5.125% 10/18/16		2,000,000		2,317,744
2.250% 1/23/17		200,000		203,089
5.000% 2/16/17		750,000		875,624
1.000% 3/8/17		1,000,000		1,012,376
2.000% 7/17/17		1,000,000		1,005,069
0.750% 1/12/18		500,000		497,044
1.070% 2/14/18		250,000		249,907
0.875% 3/7/18		1,000,000		998,287
4.875% 6/13/18		1,500,000		1,798,944
3.750% 3/27/19		750,000		861,344
1.750% 5/30/19		750,000		773,788
2.000% 7/30/19		100,000		101,071
3.000% 7/31/19		250,000		252,095
1.250% 10/2/19		750,000		746,350
2.500% 10/17/19		500,000		513,981
2.375% 1/13/22		990,000		1,030,753
Federal National Mortgage Association
4.625% 5/1/13		1,695,000		1,701,752
5.125% 1/2/14		607,000		629,093
2.500% 5/15/14		1,000,000		1,025,031
3.000% 9/16/14		1,000,000		1,039,648
4.625% 10/15/14		1,000,000		1,067,045
2.625% 11/20/14		500,000		518,906
0.500% 11/21/14		500,000		500,264
0.500% 11/24/14		750,000		750,416
0.750% 12/19/14		1,000,000		1,007,321
0.550% 2/27/15		300,000		300,853
0.375% 3/16/15		1,000,000		1,000,766
0.500% 7/2/15		1,500,000		1,503,719
2.375% 7/28/15		1,500,000		1,570,012
2.150% 8/4/15		100,000		104,084
2.000% 9/21/15		200,000		207,823
1.875% 10/15/15		200,000		207,223
4.375% 10/15/15		1,000,000		1,100,190
1.625% 10/26/15		1,500,000		1,546,392
0.800% 11/24/15		750,000		750,762
0.375% 12/21/15		500,000		499,145
0.560% 2/16/16		500,000		499,843
0.625% 2/22/16		750,000		750,481
0.550% 2/26/16		1,500,000		1,501,082
0.750% 9/13/16		500,000		500,669
1.375% 11/15/16		1,000,000		1,026,213
4.875% 12/15/16		2,050,000		2,369,381
5.375% 6/12/17		2,000,000		2,385,357
0.875% 8/28/17		1,000,000		1,003,775
1.125% 9/12/17		500,000		501,680
0.875% 10/26/17		1,000,000		1,002,188
0.900% 11/7/17		500,000		498,982
0.875% 12/20/17		750,000		751,015
0.875% 2/8/18		1,000,000		998,852
1.200% 2/28/18		500,000		501,448
1.750% 1/30/19		200,000		201,595
1.625% 8/8/19		500,000		500,224
1.700% 10/4/19		300,000		299,866
(Zero Coupon), 10/9/19		905,000		802,024
1.500% 10/9/19		500,000		498,984
2.250% 10/17/22		250,000		249,513
2.200% 10/25/22		100,000		99,996

See Notes to Portfolio of Investments.

51

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
2.500% 3/27/23	$	1,000,000	$	1,001,193
5.000% 10/1/35		1,162,947		1,260,778
4.500% 6/1/39		271,709		292,607
Financing Corp.
10.700% 10/6/17 IO STRIPS		600,000		855,269
Resolution Funding Corp. (Zero Coupon),     7/15/18 STRIPS		75,000		71,075
(Zero Coupon), 10/15/18 STRIPS		75,000		70,702
Small Business Administration
Series 2004-P10A
4.504% 2/1/14		60,268		61,583
				81,902,594
U.S. Treasuries (43.2%)
U.S. Treasury Bonds
11.250% 2/15/15		1,216,000		1,465,761
9.250% 2/15/16		2,684,000		3,366,637
7.500% 11/15/16		1,695,000		2,120,720
8.875% 8/15/17		4,107,000		5,570,119
8.500% 2/15/20		3,000,000		4,463,086
7.875% 2/15/21		500,000		743,340
2.000% 1/15/26 TIPS		2,610,000		3,941,934
2.375% 1/15/27 TIPS		1,900,000		2,952,540
1.750% 1/15/28 TIPS		11,200,000		15,648,660
2.500% 1/15/29 TIPS		2,880,000		4,314,958
3.875% 4/15/29 TIPS		1,130,000		2,571,587
0.750% 2/15/42#		1,020,000		1,084,902
2.750% 8/15/42		390,000		361,839
3.125% 2/15/43#		17,090,000		17,122,044
U.S. Treasury Notes
0.125% 9/30/13		22,900,000		22,900,224
0.500% 10/15/13		13,800,000		13,828,638
0.250% 10/31/13		19,400,000		19,412,977
0.500% 11/15/13		8,000,000		8,018,125
0.250% 11/30/13		46,400,000		46,430,814
1.000% 1/15/14		21,400,000		21,543,990
0.250% 4/30/14		4,000,000		4,002,969
1.000% 5/15/14		5,000,000		5,045,508
0.250% 5/31/14		4,000,000		4,002,871
2.250% 5/31/14		5,000,000		5,119,629
0.250% 6/30/14		5,000,000		5,003,565
2.625% 6/30/14		8,000,000		8,241,406
0.625% 7/15/14		10,000,000		10,054,346
0.125% 7/31/14		8,000,000		7,991,680
0.500% 8/15/14		4,500,000		4,518,127
0.250% 8/31/14		5,750,000		5,752,920
2.375% 8/31/14		7,500,000		7,728,808
0.250% 9/30/14		10,000,000		10,004,932
2.375% 9/30/14		6,000,000		6,193,799
0.250% 10/31/14		5,500,000		5,502,417
2.375% 10/31/14		6,000,000		6,203,057
4.250% 11/15/14		4,000,000		4,260,312
0.250% 11/30/14		3,500,000		3,501,367
0.250% 12/15/14		5,000,000		5,002,002
0.125% 12/31/14		4,000,000		3,993,125
2.625% 12/31/14		10,000,000		10,415,967
0.250% 1/15/15		2,000,000		2,000,391
0.250% 1/31/15		4,500,000		4,501,055
2.250% 1/31/15		4,000,000		4,147,383
0.250% 2/15/15		7,000,000		6,999,795
0.250% 2/28/15		5,332,000		5,332,495
0.375% 3/15/15		4,700,000		4,711,337
0.250% 3/31/15		4,200,000		4,200,492
0.375% 4/15/15		3,000,000		3,006,709
2.500% 4/30/15		1,000,000		1,046,279
0.250% 5/15/15		3,500,000		3,498,394
2.125% 5/31/15		15,000,000		15,597,070
0.375% 6/15/15		2,000,000		2,004,141
1.875% 6/30/15		10,500,000		10,874,781
0.250% 7/15/15		6,000,000		5,995,313
0.250% 8/15/15		5,000,000		4,994,434
1.250% 8/31/15		5,000,000		5,114,844
0.250% 9/15/15		2,000,000		1,997,168
0.250% 10/15/15		3,500,000		3,494,292
1.250% 10/31/15		5,000,000		5,119,238
0.375% 11/15/15		6,000,000		6,009,141
4.500% 11/15/15		7,000,000		7,761,865
1.375% 11/30/15		10,000,000		10,276,562
0.250% 12/15/15		3,500,000		3,492,617
0.375% 1/15/16#		10,175,000		10,185,930
0.375% 2/15/16		4,000,000		4,002,578
4.500% 2/15/16		5,000,000		5,593,359
2.625% 2/29/16		6,000,000		6,393,750
0.375% 3/15/16		1,555,000		1,555,972
2.375% 3/31/16		6,000,000		6,358,125
2.625% 4/30/16		2,500,000		2,670,898
5.125% 5/15/16		4,087,000		4,685,043
1.750% 5/31/16		5,000,000		5,212,744
3.250% 5/31/16		3,000,000		3,269,062
1.500% 7/31/16		8,000,000		8,282,969
1.000% 9/30/16		4,000,000		4,074,570
3.000% 9/30/16		5,000,000		5,439,112
3.125% 10/31/16		5,000,000		5,470,312
0.875% 12/31/16		5,000,000		5,067,627
0.875% 1/31/17		2,000,000		2,026,309
3.125% 1/31/17		5,000,000		5,492,578
0.875% 2/28/17		5,000,000		5,064,209
1.000% 3/31/17		7,000,000		7,121,816
3.125% 4/30/17		4,000,000		4,410,312
4.500% 5/15/17		3,500,000		4,057,778
2.750% 5/31/17		6,000,000		6,532,969
0.500% 7/31/17		6,000,000		5,965,606
4.750% 8/15/17		3,186,000		3,753,631
0.625% 8/31/17		5,000,000		4,994,629
1.875% 8/31/17		5,500,000		5,795,410
0.625% 9/30/17		2,500,000		2,495,141
1.875% 9/30/17		3,500,000		3,687,920
0.750% 10/31/17		4,000,000		4,011,602
1.875% 10/31/17		5,000,000		5,268,799
4.250% 11/15/17		1,150,000		1,336,639
0.625% 11/30/17		4,000,000		3,986,602
0.750% 12/31/17		4,000,000		4,005,429
2.750% 12/31/17		3,500,000		3,834,551
0.875% 1/31/18		4,000,000		4,025,859
3.500% 2/15/18		4,000,000		4,528,633
0.750% 2/28/18		9,560,000		9,558,039
0.750% 3/31/18		2,500,000		2,496,973
2.625% 4/30/18		3,000,000		3,275,566
2.375% 5/31/18		2,000,000		2,159,414
2.250% 7/31/18		1,000,000		1,073,555
4.000% 8/15/18		4,000,000		4,669,609
1.375% 9/30/18		4,500,000		4,620,937
3.750% 11/15/18		4,000,000		4,630,156

See Notes to Portfolio of Investments.

52

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount			Value (Note 1)
1.375% 12/31/18	$	3,000,000		$	3,073,535
1.250% 1/31/19		2,000,000			2,033,281
2.750% 2/15/19		5,000,000			5,512,597
1.500% 3/31/19		5,000,000			5,146,338
1.250% 4/30/19		1,500,000			1,520,215
1.000% 6/30/19		3,000,000			2,988,047
1.000% 8/31/19		2,000,000			1,986,367
1.000% 9/30/19		3,000,000			2,977,559
1.250% 10/31/19		3,000,000			3,022,002
3.375% 11/15/19		7,350,000			8,413,741
1.000% 11/30/19		8,844,000			8,753,574
1.125% 12/31/19		3,000,000			2,989,131
1.375% 1/31/20		3,000,000			3,034,190
3.625% 2/15/20		10,000,000			11,619,434
1.250% 2/29/20		3,000,000			3,004,658
1.125% 3/31/20		2,000,000			1,982,635
3.500% 5/15/20		8,000,000			9,237,656
2.625% 8/15/20		9,000,000			9,831,094
2.625% 11/15/20		5,000,000			5,453,467
3.125% 5/15/21		11,000,000			12,386,387
2.125% 8/15/21		8,000,000			8,360,078
2.000% 11/15/21		3,500,000			3,609,409
2.000% 2/15/22		50,800,000			52,223,294
1.750% 5/15/22		4,000,000			4,011,602
1.625% 8/15/22		4,000,000			3,948,359
1.625% 11/15/22		14,378,600			14,124,025
0.125% 1/15/23 TIPS		13,200,000			14,206,056
2.000% 2/15/23		75,748,000			76,706,682
					927,875,633
Total Government Securities					1,644,410,093
Total Long-Term Debt Securities (109.9%) (Cost $2,282,780,050)					2,361,432,250
	Number of Shares			Value (Note 1)
CONVERTIBLE PREFERRED STOCK:
Financials (0.3%)
Commercial Banks (0.3%)
Wells Fargo & Co.
7.500%*		5,000			6,443,750
Total Convertible Preferred Stocks (0.3%) (Cost $5,000,000)					6,443,750
	Principal Amount			Value (Note 1)
SHORT-TERM INVESTMENTS:
Certificate of Deposit (0.3%)
Banco do Brasil S.A.
1.23%, 3/27/14 (p)	$	6,850,000			6,766,498
Commercial Paper (0.2%)
Daimler Finance N.A. LLC
0.59%, 10/15/13 (n)(p)		4,700,000			4,684,841
Government Securities (1.6%)
U.S. Treasury Bills
0.11%, 9/19/13 (p)		4,400,000			4,397,755
0.11%, 11/14/13 #(p)		2,200,000			2,198,406
0.11%, 12/12/13 (p)		1,900,000			1,898,453
0.12%, 1/9/14 (p)		7,927,000			7,919,527
0.13%, 3/6/14 (p)		18,604,000			18,580,801
Total Government Securities					34,994,942
Time Deposit (0.5%)
Banco do Brasil S.A.
2.52%, 2/14/14 (p)		10,600,000			10,596,163
Total Short-Term Investments (2.6%) (Cost $57,025,924)					57,042,444
	Number of Contracts			Value (Note 1)
OPTIONS PURCHASED:
Put Options Purchased (0.0%)
Eurodollar 2 Year Mid Curve
September 2013 @ $98.75*		248			24,800
September 2013 @ $99.25*		87			32,625
Total Options Purchased (0.0%) (Cost $63,816)					57,425
Total Investments Before Options Written and Securities Sold Short (112.8%) (Cost $2,344,869,790)					2,424,975,869
OPTIONS WRITTEN:
Call Option Written (0.0%)
10 Year U.S. Treasury Notes
April 2013 @ $131.00*		(48	)		(58,500	)
Put Options Written (0.0%)
10 Year U.S. Treasury Notes
April 2013 @ $129.00*		(48	)		(1,500	)
Eurodollar 3 Year Mid Curve
September 2013 @ $98.13*		(124	)		(24,025	)
					(25,525	)
Total Options Written (0.0%) (Premiums Received $88,293)					(84,025	)
Total Investments Before Securities Sold Short (112.8%) (Cost$2,344,781,497)					2,424,891,844
	Principal Amount			Value (Note 1)
SECURITIES SOLD SHORT:
Agency CMO (-1.1%)
Federal Home Loan Mortgage Corp.
3.000%, 4/15/43 TBA	$	(400,000	)		(410,656	)
5.000%, 5/15/43 TBA		(1,900,000	)		(2,043,688	)
Federal National Mortgage Association
4.000%, 4/25/43 TBA		(8,900,000	)		(9,488,235	)
5.000%, 4/25/43 TBA		(400,000	)		(433,375	)
6.500%, 4/25/43 TBA		(2,700,000	)		(3,001,219	)
4.000%, 5/25/43 TBA		(1,800,000	)		(1,916,648	)
6.000%, 5/25/43 TBA		(1,400,000	)		(1,533,383	)
Government National Mortgage Association
4.000%, 4/15/43 TBA		(1,600,000	)		(1,744,250	)

See Notes to Portfolio of Investments.

53

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount			Value (Note 1)
4.500%, 4/15/43 TBA	$	(3,100,000	)	$	(3,392,078	)
Total Securities Sold Short (-1.1%) (Proceeds Received $23,895,238)					(23,963,532	)
Total Investments after Options Written and Securities Sold Short (111.7%) (Cost $2,320,886,259)					2,400,928,312
Other Assets Less Liabilities (-11.7%)					(252,266,635	)
Net Assets (100%)				$	2,148,661,677

* Non-income producing.

† Securities (totaling $3,225,214 or 0.2% of net assets) at fair value by management.

§ Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2013, the market value of these securities amounted to $158,177,191 or 7.4% of net assets. Securities denoted with “§” but without “b” have been determined to be liquid under the guidelines established by the Board of Trustees. To the extent any securities might provide a right to demand registration, such rights have not been relied upon when determining liquidity.

# All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $2,860,006.

(b) Illiquid Security.

(h) Security in default.

(l) Floating Rate Security. Rate disclosed is as of March 31, 2013.

(m) Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At March 31, 2013, the market value of these securities amounted to $15,169,862 or 0.7% of net assets.

(n) Section 4(2) Commercial Paper. Private placement for non-current transactions. Notes are usually sold to accredited investors without the intent to freely re-sell their holding.

(p) Yield to maturity.

Glossary:

ABS — Asset-Backed Security

AUD — Australian Dollar

CHF — Swiss Franc

CMO — Collateralized Mortgage Obligation

EUR — European Currency Unit

GBP — British Pound

IO — Interest Only

JPY — Japanese Yen

STRIPS — Separate Trading of Registered Interest and Principal Securities

TBA — To Be Announced; Security is subject to delayed delivery

TIPS — Treasury Inflation Protected Security

See Notes to Portfolio of Investments.

54

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MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Purchases
10 Year Australian Bonds		527		June-13	$	65,367,481	$	66,720,840	$	1,353,359
2 Year U.S. Treasury Notes		149		June-13		32,845,246		32,847,516		2,270
5 Year U.S. Treasury Notes		196		June-13		24,235,988		24,314,719		78,731
90 Day Eurodollar		30		June-13		7,475,790		7,475,250		(540	)
90 Day Eurodollar		30		September-13		7,472,950		7,472,250		(700	)
90 Day Eurodollar		30		December-13		7,470,700		7,470,000		(700	)
90 Day Eurodollar		30		March-14		7,469,393		7,468,500		(893	)
U.S. Long Bond		14		June-13		2,013,359		2,022,562		9,203
									$	1,440,730
Sales
10 Year U.S. Treasury Notes		140		June-13	$	18,312,948	$	18,477,813	$	(164,865	)
5 Year U.S. Treasury Notes		261		June-13		32,226,118		32,378,273		(152,155	)
90 Day Eurodollar		30		June-16		7,405,797		7,410,000		(4,203	)
90 Day Eurodollar		30		September-16		7,393,319		7,397,625		(4,306	)
90 Day Eurodollar		30		December-16		7,379,936		7,384,500		(4,564	)
90 Day Eurodollar		30		March-17		7,366,774		7,371,375		(4,601	)
Euro-Bund		125		June-13		23,257,676		23,312,044		(54,368	)
U.S. Ultra Bond		78		June-13		12,182,959		12,292,313		(109,354	)
									$	(498,416	)
									$	942,314

At March 31, 2013, the Portfolio had outstanding foreign currency contracts to buy/sell foreign currencies as follows: (Note 1)

	Counterparty	Local Contract  Buy Amount (000’s)		U.S. $ Current Value		U.S. $ Settlement Value		Unrealized Appreciation/ (Depreciation)
Foreign Currency Buy Contracts
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Barclays Bank plc		1,039	$	1,079,334	$	1,073,850	$	5,484
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Westpac Banking Corp.		555		576,545		576,671		(126	)
Chinese Renminbi vs. U.S. Dollar, expiring 11/25/13	Bank of America		104,231		16,575,351		16,641,000		(65,649	)
European Union Euro vs. U.S. Dollar, expiring 4/23/13	Deutsche Bank AG		1,183		1,516,634		1,605,312		(88,678	)
European Union Euro vs. U.S. Dollar, expiring 4/23/13	UBS AG		1,712		2,194,825		2,223,010		(28,185	)
European Union Euro vs. U.S. Dollar, expiring 6/17/13	JPMorgan Chase Bank		189		242,403		245,116		(2,713	)
Japanese Yen vs. U.S. Dollar, expiring 4/17/13	Westpac Banking Corp.		218,717		2,323,657		2,341,313		(17,656	)
Mexican Peso vs. U.S. Dollar, expiring 4/3/13	JPMorgan Chase Bank		67		5,461		5,161		300
								$	(197,223	)
	Counterparty	Local Contract Sell Amount (000’s)		U.S. $ Settlement Value		U.S. $ Current Value		Unrealized Appreciation/ (Depreciation)
Foreign Currency Sell Contracts
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Bank of America		8,971		9,187,623		9,319,254		(131,631	)
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Barclays Bank plc		688		713,335		714,708		(1,373	)
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Citibank N.A.		764		798,495		793,658		4,837

See Notes to Portfolio of Investments.

55

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Counterparty	Local Contract  Sell Amount (000’s)		U.S. $ Settlement Value		U.S. $ Current Value		Unrealized Appreciation/ (Depreciation)
Foreign Currency Sell Contracts
British Pound vs. U.S. Dollar, expiring 6/12/13	Barclays Bank plc		15,052	$	22,642,723	$	22,862,151	$	(219,428	)
British Pound vs. U.S. Dollar, expiring 6/12/13	Citibank N.A.		133		198,635		202,011		(3,376	)
Chinese Renminbi vs. U.S. Dollar, expiring 11/25/13	HSBC Bank plc		104,231		16,501,370		16,575,351		(73,981	)
European Union Euro vs. U.S. Dollar, expiring 4/23/13	Citibank N.A.		5,874		7,827,105		7,530,607		296,498
European Union Euro vs. U.S. Dollar, expiring 4/23/13	Royal Bank of Scotland		1,125		1,474,314		1,442,277		32,037
European Union Euro vs. U.S. Dollar, expiring 4/23/13	Royal Bank of Scotland		413		549,475		529,476		19,999
European Union Euro vs. U.S. Dollar, expiring 4/23/13	UBS AG		579		770,940		742,292		28,648
European Union Euro vs. U.S. Dollar, expiring 6/17/13	Barclays Bank plc		18,837		24,624,122		24,159,589		464,533
European Union Euro vs. U.S. Dollar, expiring 6/19/13	Citibank N.A.		300		383,688		384,774		(1,086	)
Japanese Yen vs. U.S. Dollar, expiring 4/17/13	Barclays Bank plc		234,409		2,532,405		2,490,369		42,036
Japanese Yen vs. U.S. Dollar, expiring 4/17/13	Westpac Banking Corp.		733,908		8,235,808		7,797,064		438,744
								$	896,457
								$	699,234

Options Written:

Options written through the period ended March 31, 2013 were as follows:

	Total Number of Contracts		Total Premiums Received
Options Outstanding – January 1, 2013		—	$	—
Options Written		220		88,293
Options Terminated in Closing Purchase Transactions		—		—
Options Expired		—		—
Options Exercised		—		—
Options Outstanding – March 31, 2013		220	$	88,293

See Notes to Portfolio of Investments.

56

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities			Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)			Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Asset-Backed and Mortgage-Backed Securities
Asset-Backed Securities	$	—		$	56,192,289		$	713,352	$	56,905,641
Non-Agency CMO		—			111,812,715			1,554,447		113,367,162
Convertible Preferred Stocks
Financials		6,443,750			—			—		6,443,750
Corporate Bonds
Consumer Discretionary		—			29,118,752			76		29,118,828
Consumer Staples		—			31,144,740			—		31,144,740
Energy		—			50,757,962			—		50,757,962
Financials		—			280,352,488			1,669,715		282,022,203
Health Care		—			29,178,875			—		29,178,875
Industrials		—			24,074,816			—		24,074,816
Information Technology		—			16,928,770			—		16,928,770
Materials		—			21,003,512			—		21,003,512
Telecommunication Services		—			26,492,133			—		26,492,133
Utilities		—			36,027,515			—		36,027,515
Forward Currency Contracts		—			1,333,116			—		1,333,116
Futures		1,443,563			—			—		1,443,563
Government Securities
Agency ABS		—			10,227,671			—		10,227,671
Agency CMO		—			460,297,919			—		460,297,919
Foreign Governments		—			84,400,266			—		84,400,266
Municipal Bonds		—			53,193,687			—		53,193,687
Supranational		—			26,512,323			—		26,512,323
U.S. Government Agencies		—			81,902,594			—		81,902,594
U.S. Treasuries		—			927,875,633			—		927,875,633
Options Purchased
Put Options Purchased		57,425			—			—		57,425
Short-Term Investments		—			57,042,444			—		57,042,444
Total Assets	$	7,944,738		$	2,415,870,220		$	3,937,590	$	2,427,752,548
Liabilities:
Forward Currency Contracts	$	—		$	(633,882	)	$	—	$	(633,882	)
Futures		(501,249	)		—			—		(501,249	)
Government Securities
Agency CMO		—			(23,963,532	)		—		(23,963,532	)
Options Written
Call Options Written		(58,500	)		—			—		(58,500	)
Put Options Written		(25,525	)		—			—		(25,525	)
Total Liabilities	$	(585,274	)	$	(24,597,414	)	$	—	$	(25,182,688	)
Total	$	7,359,464		$	2,391,272,806		$	3,937,590	$	2,402,569,860

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

See Notes to Portfolio of Investments.

57

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

	Investments in Securities-Asset-Backed Securities			Investments in Securities-Non-Agency CMO			Investments in Corporate Bonds – Consumer Discretionary†
Balance as of 12/31/12	$	1,270,031		$	3,503,993		$	—
Total gains or losses (realized/unrealized) included in earnings		9,868			574			76
Purchases		—			—			—
Sales		(566,547	)		(99,493	)		—
Issuances		—			—			—
Settlements		—			—			—
Transfers into Level 3		—			—			—
Transfers out of Level 3		—			(1,850,627	)		—
Balance as of 3/31/13	$	713,352		$	1,554,447		$	76
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	7,630		$	—		$	76

	Investments in Corporate Bonds – Financials
Balance as of 12/31/12	$	1,671,810
Total gains or losses (realized/unrealized) included in earnings		(2,095	)
Purchases		—
Sales		—
Issuances		—
Settlements		—
Transfers into Level 3		—
Transfers out of Level 3		—
Balance as of 3/31/13	$	1,669,715
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	(2,095	)

† Shares held with $0 cost.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	2,002,900,063
Long-term U.S. government debt securities		260,761,049
	$	2,263,661,112
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	2,015,485,036
Long-term U.S. government debt securities		274,400,261
	$	2,289,885,297

See Notes to Portfolio of Investments.

58

AXA PREMIER VIP TRUST

MULTIMANAGER CORE BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	96,374,484
Aggregate gross unrealized depreciation		(17,455,486	)
Net unrealized appreciation	$	78,918,998
Federal income tax cost of investments	$	2,346,056,871

See Notes to Portfolio of Investments.

59

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Argentina (0.2%)
MercadoLibre, Inc.		13,646	$	1,317,658
Australia (3.4%)
AGL Energy Ltd.		10,614		175,265
ALS Ltd.		6,846		74,627
Alumina Ltd.*		46,362		53,579
Amcor Ltd.		23,270		224,832
AMP Ltd.		56,486		306,402
APA Group		16,585		102,914
Asciano Ltd.		18,607		108,293
ASX Ltd.		3,381		127,393
Aurizon Holdings Ltd.		35,061		147,110
Australia & New Zealand Banking Group Ltd.		52,360		1,555,302
Bendigo and Adelaide Bank Ltd.		7,886		84,322
BGP Holdings plc(b)*†		568,558		—
BHP Billiton Ltd.		112,116		3,824,061
BHP Billiton Ltd. (ADR)		37,975		2,598,629
Boral Ltd.		14,986		76,609
Brambles Ltd.		30,005		264,600
Caltex Australia Ltd.		2,598		57,750
CFS Retail Property Trust Group (REIT)		40,268		84,269
Coca-Cola Amatil Ltd.		11,029		167,420
Cochlear Ltd.		1,047		74,180
Commonwealth Bank of Australia		30,991		2,194,430
Computershare Ltd.		8,238		87,485
Crown Ltd.		7,513		96,213
CSL Ltd.		9,664		595,953
Dexus Property Group (REIT)		86,481		93,641
Echo Entertainment Group Ltd.		14,318		51,877
Federation Centres Ltd. (REIT) .		28,035		68,885
Flight Centre Ltd.		1,154		40,370
Fortescue Metals Group Ltd.		27,048		110,954
Goodman Group (REIT)		32,834		163,405
GPT Group (REIT)		27,143		104,844
Harvey Norman Holdings Ltd.		11,472		32,607
Iluka Resources Ltd.		8,572		83,446
Incitec Pivot Ltd.		31,172		100,285
Insurance Australia Group Ltd. .		40,089		238,328
Leighton Holdings Ltd.		2,984		63,814
Lend Lease Group		10,511		111,624
Macquarie Group Ltd.		6,213		240,311
Metcash Ltd.		17,623		75,962
Mirvac Group (REIT)		65,744		110,888
National Australia Bank Ltd.		44,724		1,436,046
Newcrest Mining Ltd.		14,763		308,178
Orica Ltd.		7,053		179,542
Origin Energy Ltd.		21,086		291,545
OZ Minerals Ltd.		5,907		32,780
Qantas Airways Ltd.*		19,649		36,517
QBE Insurance Group Ltd.		23,069		324,487
Ramsay Health Care Ltd.		2,672		89,857
Rio Tinto Ltd.		17,413		1,037,010
Santos Ltd.		18,533		239,845
Sonic Healthcare Ltd.		7,040		102,103
SP AusNet		31,858		39,637
Stockland Corp., Ltd. (REIT)		42,499		161,505
Suncorp Group Ltd.		24,801		305,211
Sydney Airport		4,235		14,462
Tabcorp Holdings Ltd.		13,375		44,979
Tatts Group Ltd.		27,694		91,403
Telstra Corp., Ltd.		83,929		394,096
Toll Holdings Ltd.		13,741		84,837
Transurban Group		25,383		168,608
Treasury Wine Estates Ltd.		12,246		72,547
Wesfarmers Ltd.		19,390		811,553
Westfield Group (REIT)		41,184		465,234
Westfield Retail Trust (REIT)		55,970		175,985
Westpac Banking Corp.		59,343		1,900,505
Whitehaven Coal Ltd.		10,494		23,163
Woodside Petroleum Ltd.		12,701		473,671
Woolworths Ltd.		23,739		835,149
WorleyParsons Ltd.		3,949		101,513
				25,014,847
Austria (0.9%)
Andritz AG		1,474		98,894
Conwert Immobilien Invest SE		107,662		1,173,055
Erste Group Bank AG*		59,390		1,654,285
Immofinanz AG*		19,053		72,170
OMV AG		2,843		120,899
Raiffeisen Bank International AG		872		29,638
Schoeller-Bleckmann Oilfield Equipment AG		31,320		3,136,326
Telekom Austria AG		5,014		32,901
Verbund AG		1,108		24,017
Vienna Insurance Group AG Wiener Versicherung Gruppe .		691		33,464
Voestalpine AG		2,244		68,906
				6,444,555
Belgium (1.1%)
Ageas		4,457		150,743
Anheuser-Busch InBev N.V		66,752		6,609,977
Belgacom S.A		2,788		69,314
Colruyt S.A		1,535		74,229
Delhaize Group S.A		1,892		103,207
Groupe Bruxelles Lambert S.A		1,558		119,128
KBC Groep N.V		4,558		156,993
Solvay S.A		1,144		154,929
Telenet Group Holding N.V		993		49,107
UCB S.A		2,124		135,588
Umicore S.A		2,191		102,919
				7,726,134
Bermuda (0.4%)
Everest Reinsurance Group Ltd.		24,273		3,152,092
Brazil (0.9%)
Banco Bradesco S.A. (ADR)		117,245		1,995,503
Banco do Brasil S.A		168,300		2,280,368
BR Malls Participacoes S.A		204,200		2,555,595
				6,831,466
Canada (0.9%)
Canadian National Railway Co.		26,881		2,696,164
Canadian Pacific Railway Ltd.		5,720		746,300
Imax Corp.*		46,547		1,244,202
Rogers Communications, Inc., Class B		33,669		1,719,139
				6,405,805
China (2.9%)
Anhui Conch Cement Co., Ltd., Class H		587,000		1,947,202
Baidu, Inc. (ADR)*		14,075		1,234,377
China Construction Bank Corp., Class H		1,377,000		1,124,654

See Notes to Portfolio of Investments.

60

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
China Oilfield Services Ltd., Class H		1,275,500	$	2,671,755
China Shipping Container Lines Co., Ltd., Class H*		4,839,000		1,309,093
CNOOC Ltd.		1,110,100		2,133,666
Daphne International Holdings Ltd.		1,638,000		2,057,378
ENN Energy Holdings Ltd.		134,000		742,282
Industrial & Commercial Bank of China Ltd., Class H		3,379,135		2,368,100
Mindray Medical International Ltd. (ADR)		59,899		2,392,366
Ping An Insurance Group Co. of China Ltd., Class H		88,000		682,456
Weichai Power Co., Ltd., Class H		620,080		2,064,923
Yangzijiang Shipbuilding Holdings Ltd.		31,182		24,385
				20,752,637
Colombia (0.3%)
Bancolombia S.A. (ADR)		34,060		2,154,295
Czech Republic (0.2%)
Komercni Banka A/S		7,047		1,345,403
Denmark (0.6%)
A. P. Moller - Maersk A/S, Class A		11		82,230
A. P. Moller - Maersk A/S, Class B		25		195,138
Carlsberg A/S, Class B		2,063		200,753
Coloplast A/S, Class B		2,196		118,136
Danske Bank A/S*		12,641		226,027
DSV A/S		3,538		85,463
Novo Nordisk A/S, Class B		18,994		3,085,986
Novozymes A/S, Class B		4,710		159,688
TDC A/S		12,865		98,848
Tryg A/S		440		35,509
William Demant Holding A/S*		460		38,539
				4,326,317
Finland (0.2%)
Elisa Oyj		2,804		52,082
Fortum Oyj		8,570		172,691
Kesko Oyj, Class B		1,150		35,924
Kone Oyj, Class B		3,002		236,082
Metso Oyj*		2,454		104,404
Neste Oil Oyj*		2,308		32,544
Nokia Oyj		72,198		233,589
Nokian Renkaat Oyj		2,081		92,563
Orion Oyj, Class B		1,754		46,069
Pohjola Bank plc, Class A		2,583		37,547
Sampo Oyj, Class A		8,079		310,682
Stora Enso Oyj, Class R		11,243		72,564
UPM-Kymmene Oyj		10,153		113,292
Wartsila Oyj		3,235		145,345
				1,685,378
France (5.7%)
Accor S.A		25,324		879,709
Aeroports de Paris S.A		561		47,584
Air Liquide S.A		6,014		730,663
Alstom S.A		4,099		166,824
Arkema S.A		1,212		110,259
AtoS		1,102		75,842
AXA S.A.‡		34,068		585,616
BNP Paribas S.A		69,664		3,575,524
Bouygues S.A		3,585		97,239
Bureau Veritas S.A		1,069		133,056
Cap Gemini S.A		2,904		132,148
Carrefour S.A		11,620		318,085
Casino Guichard Perrachon S.A		1,066		112,022
Christian Dior S.A		1,052		174,497
Cie de Saint-Gobain S.A		7,677		284,595
Cie Generale de Geophysique- Veritas*		2,937		66,147
Cie Generale des Etablissements Michelin		3,508		293,412
Cie Generale d’Optique Essilor International S.A		6,437		715,798
CNP Assurances S.A		3,421		46,944
Credit Agricole S.A.*		19,273		158,755
Danone S.A		47,171		3,282,102
Dassault Systemes S.A		1,202		138,948
Edenred		3,264		106,816
EDF S.A		4,458		85,489
Eurazeo S.A		508		25,754
European Aeronautic Defence and Space Co. N.V		8,880		451,898
Eutelsat Communications S.A		2,444		86,169
Fonciere des Regions (REIT)		449		35,155
France Telecom S.A		35,737		361,437
GDF Suez S.A		25,560		492,117
Gecina S.A. (REIT)		417		48,386
Groupe Eurotunnel S.A. (Registered)		10,392		82,777
ICADE (REIT)		427		37,340
Iliad S.A		466		99,129
Imerys S.A		9,896		644,281
J.C. Decaux S.A		1,175		32,202
Klepierre S.A. (REIT)		1,928		75,736
Lafarge S.A		20,781		1,380,654
Lagardere S.C.A		2,414		88,886
Legrand S.A		4,572		199,378
L’Oreal S.A		4,684		742,718
LVMH Moet Hennessy Louis Vuitton S.A		12,457		2,138,116
Natixis S.A		18,525		70,336
Pernod-Ricard S.A		24,409		3,041,572
Peugeot S.A.*		3,986		28,868
PPR S.A		7,112		1,562,571
Publicis Groupe S.A		3,442		230,798
Remy Cointreau S.A		414		47,847
Renault S.A		3,706		232,182
Rexel S.A		2,931		63,965
Safran S.A		4,424		197,319
Sanofi S.A		38,523		3,914,409
Schneider Electric S.A		46,743		3,415,298
SCOR SE		3,037		87,203
Societe BIC S.A		573		66,538
Societe Generale S.A.*		56,580		1,858,869
Sodexo S.A		1,819		169,513
Suez Environnement Co. S.A		5,612		71,571
Technip S.A		12,140		1,244,621
Thales S.A		1,803		76,257
Total S.A		78,344		3,751,385
Unibail-Rodamco SE (REIT)		1,778		414,118
Vallourec S.A		1,986		95,466
Veolia Environnement S.A		6,900		87,015
Vinci S.A		8,884		400,230
Vivendi S.A		25,501		526,774
Wendel S.A		658		69,636

See Notes to Portfolio of Investments.

61

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Zodiac Aerospace		660	$	76,903
				41,141,471
Germany (5.2%)
Adidas AG		27,717		2,875,720
Allianz SE (Registered)		18,602		2,526,375
Axel Springer AG		704		30,506
BASF SE		17,689		1,549,132
Bayer AG (Registered)		30,047		3,099,362
Bayerische Motoren Werke (BMW) AG		37,424		3,228,992
Bayerische Motoren Werke (BMW) AG (Preference)		1,045		66,756
Beiersdorf AG		1,945		179,610
Brenntag AG		994		155,192
Celesio AG		1,411		26,497
Commerzbank AG*		73,134		107,340
Continental AG		2,121		253,583
Daimler AG (Registered)		17,475		950,782
Deutsche Bank AG (Registered)		17,905		698,071
Deutsche Boerse AG		3,721		225,347
Deutsche Lufthansa AG (Registered)		4,237		82,744
Deutsche Post AG (Registered)		17,475		402,646
Deutsche Telekom AG (Registered)		54,116		572,013
E.ON SE		34,697		605,768
Fraport AG		675		37,833
Fresenius Medical Care AG & Co. KGaA		16,148		1,089,819
Fresenius SE & Co. KGaA		17,644		2,177,787
GEA Group AG		3,383		111,491
Hannover Rueckversicherung SE (Registered)		1,126		88,319
HeidelbergCement AG		2,713		194,958
Henkel AG & Co. KGaA		2,506		197,879
Henkel AG & Co. KGaA (Preference)		12,594		1,212,224
Hochtief AG*		570		37,073
Hugo Boss AG		465		52,108
Infineon Technologies AG		20,841		164,565
K+S AG (Registered)		3,324		154,606
Kabel Deutschland Holding AG		29,095		2,684,525
Lanxess AG		1,606		113,885
Linde AG		9,679		1,799,639
MAN SE		791		85,039
Merck KGaA		1,247		188,140
Metro AG		2,641		75,087
Muenchener Rueckversicherungs- Gesellschaft AG (Registered)		3,455		646,161
Porsche Automobil Holding SE (Preference)		2,953		215,838
ProSiebenSat.1 Media AG (Preference)		1,907		68,079
RWE AG		9,432		351,529
RWE AG (Preference)		900		32,279
Salzgitter AG		687		27,577
SAP AG		40,034		3,207,349
Siemens AG (Registered)		28,520		3,071,999
Suedzucker AG		1,560		65,890
ThyssenKrupp AG*		7,444		151,385
United Internet AG (Registered)		1,663		40,439
Volkswagen AG		569		107,035
Volkswagen AG (Preference)		9,278		1,843,416
				37,930,389
Greece (0.0%)
Coca Cola Hellenic Bottling Co. S.A.*		3,815		102,206
OPAP S.A		3,993		31,530
				133,736
Hong Kong (2.1%)
AIA Group Ltd.		971,327		4,254,416
ASM Pacific Technology Ltd.		3,700		40,658
Bank of East Asia Ltd.		23,247		91,640
Belle International Holdings Ltd.		262,000		435,398
BOC Hong Kong Holdings Ltd.		71,500		238,562
Cathay Pacific Airways Ltd.		21,000		35,926
Cheung Kong Holdings Ltd.		103,000		1,520,609
Cheung Kong Infrastructure Holdings Ltd.		9,000		61,739
CLP Holdings Ltd.		34,000		297,840
First Pacific Co., Ltd.		40,000		54,209
Galaxy Entertainment Group Ltd.*		40,000		166,955
Hang Lung Properties Ltd.		320,000		1,195,483
Hang Seng Bank Ltd.		14,700		235,767
Henderson Land Development Co., Ltd.		18,000		123,130
HKT Trust/HKT Ltd.		49,000		49,047
Hong Kong & China Gas Co., Ltd.		100,922		294,476
Hong Kong Exchanges and Clearing Ltd.		21,100		359,343
Hopewell Holdings Ltd.		10,500		42,541
Hutchison Whampoa Ltd.		41,000		427,295
Hysan Development Co., Ltd.		13,448		67,911
Kerry Properties Ltd.		14,500		64,351
Li & Fung Ltd.		112,000		154,382
Link REIT (REIT)		43,813		238,748
MTR Corp., Ltd.		27,589		109,644
New World Development Co., Ltd.		71,212		120,544
Noble Group Ltd.		77,454		75,871
NWS Holdings Ltd.		25,653		45,671
Orient Overseas International Ltd.		416,700		2,815,559
PCCW Ltd.		85,974		39,872
Power Assets Holdings Ltd.		26,500		250,063
Shangri-La Asia Ltd.		29,166		57,110
Sino Land Co., Ltd.		55,910		94,785
SJM Holdings Ltd.		38,000		94,871
Sun Hung Kai Properties Ltd.		31,000		417,724
Swire Pacific Ltd., Class A		13,000		165,712
Swire Properties Ltd.		22,600		80,209
Wharf Holdings Ltd.		29,000		258,523
Wheelock & Co., Ltd.		17,000		90,557
Wing Hang Bank Ltd.		3,000		31,884
Yue Yuen Industrial Holdings Ltd.		14,000		45,629
				15,244,654
India (0.6%)
ICICI Bank Ltd. (ADR)		34,452		1,477,991
Yes Bank Ltd.		355,090		2,802,173
				4,280,164
Indonesia (0.1%)
PT Astra International Tbk		778,000		632,488
Ireland (1.9%)
Accenture plc, Class A		17,088		1,298,175
CRH plc		13,998		308,830
Elan Corp. plc*		9,834		113,060
Experian plc		19,469		337,237

See Notes to Portfolio of Investments.

62

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
ICON plc*		90,045	$	2,907,553
James Hardie Industries plc (CDI)		8,976		93,547
Kerry Group plc, Class A		2,871		171,110
Seagate Technology plc		54,612		1,996,615
Shire plc		227,799		6,936,429
				14,162,556
Israel (0.3%)
Bank Hapoalim B.M.*		19,696		89,236
Bank Leumi Le-Israel B.M.*		23,026		81,154
Bezeq Israeli Telecommunication Corp., Ltd.		33,702		46,697
Delek Group Ltd.		77		21,613
Israel Chemicals Ltd.		8,573		110,773
Israel Corp., Ltd.		49		37,180
Mellanox Technologies Ltd.*		629		34,757
Mizrahi Tefahot Bank Ltd.*		2,711		28,918
NICE Systems Ltd.*		1,056		38,815
Teva Pharmaceutical Industries Ltd.		17,269		679,850
Teva Pharmaceutical Industries Ltd. (ADR)		22,155		879,110
				2,048,103
Italy (0.6%)
Assicurazioni Generali S.p.A		22,503		350,184
Atlantia S.p.A		6,374		100,661
Banca Monte dei Paschi di Siena S.p.A.*		127,950		30,342
Banco Popolare S.c.a.r.l.*		35,216		44,397
Enel Green Power S.p.A		34,923		65,493
Enel S.p.A		126,834		413,934
Eni S.p.A		48,999		1,101,048
Exor S.p.A		1,372		38,322
Fiat Industrial S.p.A		16,505		185,546
Fiat S.p.A.*		16,321		86,822
Finmeccanica S.p.A.*		7,658		36,812
Intesa Sanpaolo S.p.A. (BATS Europe Exchange)		14,987		18,894
Intesa Sanpaolo S.p.A. (XetraIntlMkt Exchange)		194,199		284,283
Luxottica Group S.p.A		3,179		159,373
Mediobanca S.p.A		10,391		52,879
Pirelli & C. S.p.A		4,354		45,682
Prysmian S.p.A		4,173		85,854
Saipem S.p.A		5,110		157,141
Snam S.p.A		32,603		148,613
Telecom Italia S.p.A		181,261		128,024
Telecom Italia S.p.A. (RNC)		111,127		68,375
Terna Rete Elettrica Nazionale S.p.A		25,004		103,526
UniCredit S.p.A.*		78,063		333,217
Unione di Banche Italiane S.c.p.A.		15,538		57,243
				4,096,665
Japan (12.4%)
ABC-Mart, Inc		600		22,850
Acom Co., Ltd.*		810		23,086
Advantest Corp.		2,600		36,458
Aeon Co., Ltd.		11,600		149,844
Aeon Credit Service Co., Ltd.		1,200		33,934
Aeon Mall Co., Ltd.		1,200		36,509
Air Water, Inc.		3,000		41,685
Aisin Seiki Co., Ltd.		3,700		135,407
Ajinomoto Co., Inc.		12,000		176,045
Alfresa Holdings Corp.		1,000		54,284
All Nippon Airways Co., Ltd.		24,000		49,461
Amada Co., Ltd.		6,000		39,581
Aozora Bank Ltd.		21,000		59,117
Asahi Glass Co., Ltd.		19,000		131,396
Asahi Group Holdings Ltd.		7,500		179,184
Asahi Kasei Corp.		24,000		161,385
Asics Corp.		3,200		52,622
Astellas Pharma, Inc.		23,500		1,263,186
Bank of Kyoto Ltd.		5,000		48,813
Bank of Yokohama Ltd.		23,000		132,916
Benesse Holdings, Inc.		1,300		55,240
Bridgestone Corp.		12,500		418,282
Brother Industries Ltd.		4,400		45,199
Calbee, Inc.		300		23,615
Canon, Inc.		51,200		1,876,454
Casio Computer Co., Ltd.		3,900		30,368
Central Japan Railway Co.		2,800		295,066
Chiba Bank Ltd.		15,000		107,718
Chiyoda Corp.		3,000		33,463
Chubu Electric Power Co., Inc.		12,400		150,694
Chugai Pharmaceutical Co., Ltd.		4,500		100,005
Chugoku Bank Ltd.		3,000		48,377
Chugoku Electric Power Co., Inc.		6,100		79,510
Citizen Holdings Co., Ltd.		4,200		21,371
Coca-Cola West Co., Ltd.		900		15,661
Cosmo Oil Co., Ltd.*		12,000		25,240
Credit Saison Co., Ltd.		3,000		74,701
Dai Nippon Printing Co., Ltd.		11,000		104,584
Daicel Corp.		7,000		54,507
Daido Steel Co., Ltd.		6,000		31,805
Daihatsu Motor Co., Ltd.		4,000		82,775
Dai-ichi Life Insurance Co., Ltd.		164		218,469
Daiichi Sankyo Co., Ltd.		13,000		249,960
Daikin Industries Ltd.		17,600		688,968
Dainippon Sumitomo Pharma Co., Ltd.		3,000		52,967
Daito Trust Construction Co., Ltd.		1,300		111,308
Daiwa House Industry Co., Ltd.		10,000		194,933
Daiwa Securities Group, Inc.		32,000		225,039
DeNA Co., Ltd.		75,300		2,047,782
Denki Kagaku Kogyo KK		10,000		35,906
Denso Corp.		105,700		4,463,351
Dentsu, Inc.		3,383		100,554
Don Quijote Co., Ltd.		900		39,820
East Japan Railway Co.		13,705		1,125,401
Eisai Co., Ltd.		4,900		218,882
Electric Power Development Co., Ltd.		2,200		55,926
FamilyMart Co., Ltd.		1,000		45,626
FANUC Corp.		24,400		3,729,920
Fast Retailing Co., Ltd.		1,100		349,742
Fuji Electric Co., Ltd.		9,000		26,292
Fuji Heavy Industries Ltd.		12,000		189,175
Fujifilm Holdings Corp.		8,900		175,287
Fujitsu Ltd.		36,000		149,530
Fukuoka Financial Group, Inc.		15,000		74,892
Furukawa Electric Co., Ltd.		14,000		30,786
Gree, Inc.		2,100		26,369
GS Yuasa Corp.		8,000		33,314
Gunma Bank Ltd.		7,000		41,642
Hachijuni Bank Ltd.		9,000		53,636
Hakuhodo DY Holdings, Inc.		500		38,349
Hamamatsu Photonics KK		1,300		51,304
Hankyu Hanshin Holdings, Inc.		22,000		132,512

See Notes to Portfolio of Investments.

63

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Hino Motors Ltd.		5,000	$	53,965
Hirose Electric Co., Ltd.		600		78,844
Hiroshima Bank Ltd.		8,000		38,583
Hisamitsu Pharmaceutical Co., Inc.		1,200		64,758
Hitachi Chemical Co., Ltd.		1,600		24,374
Hitachi Construction Machinery Co., Ltd.		1,900		40,569
Hitachi High-Technologies Corp.		1,400		29,179
Hitachi Ltd.		436,000		2,528,879
Hitachi Metals Ltd.		2,000		19,058
Hokkaido Electric Power Co., Inc.*		3,000		30,594
Hokuriku Electric Power Co.		2,900		35,705
Honda Motor Co., Ltd.		139,900		5,350,189
Hoya Corp.		8,400		157,586
Hulic Co., Ltd.		5,400		44,285
Ibiden Co., Ltd.		2,000		31,147
Idemitsu Kosan Co., Ltd.		300		26,037
IHI Corp.		26,000		78,717
INPEX Corp.		42		224,869
Isetan Mitsukoshi Holdings Ltd.		7,100		102,199
Isuzu Motors Ltd.		23,000		138,535
ITOCHU Corp.		29,000		353,970
ITOCHU Techno-Solutions Corp.		600		29,638
Iyo Bank Ltd.		4,000		37,011
J. Front Retailing Co., Ltd.		9,000		69,985
Japan Airlines Co., Ltd.		1,064		49,563
Japan Exchange Group, Inc.		1,000		92,633
Japan Petroleum Exploration Co.		400		15,701
Japan Prime Realty Investment Corp. (REIT)		16		61,784
Japan Real Estate Investment Corp. (REIT)		11		152,026
Japan Retail Fund Investment Corp. (REIT)		37		91,581
Japan Steel Works Ltd.		7,000		36,883
Japan Tobacco, Inc.		59,100		1,886,604
JFE Holdings, Inc.		9,500		182,159
JGC Corp.		5,000		127,795
Joyo Bank Ltd.		12,000		66,670
JSR Corp.		3,500		71,387
JTEKT Corp.		3,900		36,665
Jupiter Telecommunications Co., Ltd.		39		51,083
JX Holdings, Inc.		43,344		242,655
Kajima Corp.		15,000		40,633
Kamigumi Co., Ltd.		5,000		45,838
Kaneka Corp.		6,000		34,546
Kansai Electric Power Co., Inc.* .		14,500		137,244
Kansai Paint Co., Ltd.		5,000		55,346
Kao Corp.		10,100		326,170
Kawasaki Heavy Industries Ltd.		29,000		91,188
KDDI Corp.		10,400		433,633
Keikyu Corp.		9,000		93,791
Keio Corp.		11,000		94,301
Keisei Electric Railway Co., Ltd.		4,000		42,152
Keyence Corp.		930		284,528
Kikkoman Corp.		4,000		69,687
Kinden Corp.		3,000		19,631
Kintetsu Corp.		31,000		144,240
Kirin Holdings Co., Ltd.		17,000		272,874
Kobe Steel Ltd.*		48,000		56,090
Koito Manufacturing Co., Ltd.		2,000		34,312
Komatsu Ltd.		135,300		3,209,485
Konami Corp.		1,700		33,861
Konica Minolta Holdings, Inc.		9,500		69,129
Kubota Corp.		113,000		1,630,148
Kuraray Co., Ltd.		6,300		88,408
Kurita Water Industries Ltd.		2,100		46,468
Kyocera Corp.		3,000		273,756
Kyowa Hakko Kirin Co., Ltd.		5,000		56,515
Kyushu Electric Power Co., Inc.*.		7,800		79,380
Lawson, Inc.		1,200		92,038
LIXIL Group Corp.		5,100		101,420
M3, Inc.		13		25,314
Mabuchi Motor Co., Ltd.		500		26,876
Makita Corp.		17,400		770,787
Marubeni Corp.		293,000		2,228,587
Marui Group Co., Ltd.		4,900		50,647
Maruichi Steel Tube Ltd.		700		16,278
Mazda Motor Corp.*		50,000		146,067
McDonald’s Holdings Co. Japan Ltd.		1,100		29,611
Medipal Holdings Corp.		2,600		36,375
MEIJI Holdings Co., Ltd.		1,082		49,482
Miraca Holdings, Inc.		900		43,119
Mitsubishi Chemical Holdings Corp.		26,000		123,185
Mitsubishi Corp.		79,200		1,480,767
Mitsubishi Electric Corp.		37,000		299,113
Mitsubishi Estate Co., Ltd.		25,000		704,042
Mitsubishi Gas Chemical Co., Inc.		7,000		46,104
Mitsubishi Heavy Industries Ltd.		59,000		339,704
Mitsubishi Logistics Corp.		3,000		55,325
Mitsubishi Materials Corp.		23,000		64,747
Mitsubishi Motors Corp.*		79,000		82,244
Mitsubishi Tanabe Pharma Corp.		4,400		67,308
Mitsubishi UFJ Financial Group, Inc.		245,400		1,470,288
Mitsubishi UFJ Lease & Finance Co., Ltd.		11,100		57,897
Mitsui & Co., Ltd.		33,500		469,039
Mitsui Chemicals, Inc.		19,000		41,175
Mitsui Fudosan Co., Ltd.		17,000		482,541
Mitsui O.S.K. Lines Ltd.		21,000		68,933
Mizuho Financial Group, Inc.		1,567,050		3,346,014
MS&AD Insurance Group Holdings, Inc.		9,738		215,480
Murata Manufacturing Co., Ltd.		6,500		488,872
Nabtesco Corp.		2,200		44,918
Namco Bandai Holdings, Inc.		3,300		58,193
NEC Corp.		50,000		132,788
Nexon Co., Ltd.		2,400		23,277
NGK Insulators Ltd.		5,000		53,062
NGK Spark Plug Co., Ltd.		3,000		45,796
NHK Spring Co., Ltd.		2,500		26,000
Nidec Corp.		12,800		764,179
Nikon Corp.		6,600		154,597
Nintendo Co., Ltd.		2,000		215,648
Nippon Building Fund, Inc. (REIT)		13		181,739
Nippon Electric Glass Co., Ltd.		7,000		34,727
Nippon Express Co., Ltd.		17,000		81,266
Nippon Meat Packers, Inc.		4,000		64,461
Nippon Paper Group, Inc.†		1,668		25,445
Nippon Steel & Sumitomo Metal Corp.		757,595		1,915,415

See Notes to Portfolio of Investments.

64

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Nippon Telegraph & Telephone Corp.		8,392	$	365,509
Nippon Yusen KK		32,000		81,925
Nishi-Nippon City Bank Ltd.		12,000		36,968
Nissan Motor Co., Ltd.		47,900		461,521
Nisshin Seifun Group, Inc.		3,500		46,104
Nissin Foods Holdings Co., Ltd.		1,000		45,838
Nitori Holdings Co., Ltd.		650		50,061
Nitto Denko Corp.		3,200		191,385
NKSJ Holdings, Inc.		7,223		151,082
NOK Corp.		2,300		33,058
Nomura Holdings, Inc.		70,000		431,296
Nomura Real Estate Holdings, Inc.		2,100		46,848
Nomura Real Estate Office Fund, Inc. (REIT)		6		44,107
Nomura Research Institute Ltd.		1,800		46,427
NSK Ltd.		8,000		60,594
NTT Data Corp.		25		82,196
NTT DOCOMO, Inc.		294		435,995
NTT Urban Development Corp.		18		21,569
Obayashi Corp.		13,000		62,007
Odakyu Electric Railway Co., Ltd.		12,000		149,148
Oji Holdings Corp.		15,000		56,090
Olympus Corp.*		3,800		89,777
Omron Corp.		8,100		203,931
Ono Pharmaceutical Co., Ltd.		1,500		92,580
Oracle Corp. Japan		600		26,993
Oriental Land Co., Ltd.		1,000		163,595
ORIX Corp.		20,200		256,644
Osaka Gas Co., Ltd.		36,000		157,179
Otsuka Corp.		300		32,602
Otsuka Holdings Co., Ltd.		7,000		242,790
Panasonic Corp.		42,600		318,589
Park24 Co., Ltd.		2,100		41,047
Rakuten, Inc.		255,400		2,607,313
Resona Holdings, Inc.		36,357		191,180
Ricoh Co., Ltd.		12,000		129,771
Rinnai Corp.		700		49,748
Rohm Co., Ltd.		1,800		62,240
Sankyo Co., Ltd.		800		37,393
Sanrio Co., Ltd.		700		30,971
Santen Pharmaceutical Co., Ltd.		1,400		64,769
SBI Holdings, Inc.		4,130		36,415
Secom Co., Ltd.		57,600		2,964,593
Sega Sammy Holdings, Inc.		4,000		80,098
Sekisui Chemical Co., Ltd.		8,000		88,044
Sekisui House Ltd.		10,000		135,444
Seven & I Holdings Co., Ltd.		14,500		479,816
Seven Bank Ltd.		11,300		36,252
Sharp Corp.*		20,000		56,940
Shikoku Electric Power Co., Inc.*		3,200		45,484
Shimadzu Corp.		5,000		35,428
Shimamura Co., Ltd.		400		46,656
Shimano, Inc.		1,500		122,377
Shimizu Corp.		13,000		42,535
Shin-Etsu Chemical Co., Ltd.		27,100		1,787,762
Shinsei Bank Ltd.		29,000		66,235
Shionogi & Co., Ltd.		5,800		117,128
Shiseido Co., Ltd.		6,800		95,136
Shizuoka Bank Ltd.		10,000		112,498
Showa Denko KK		26,000		38,944
Showa Shell Sekiyu KK		3,000		21,193
SMC Corp.		6,400		1,236,012
Softbank Corp.		18,300		839,815
Sojitz Corp.		22,200		34,667
Sony Corp.		19,400		334,891
Sony Financial Holdings, Inc.		3,400		50,566
Stanley Electric Co., Ltd.		2,500		43,103
Sumco Corp.		2,700		30,403
Sumitomo Chemical Co., Ltd.		30,000		93,695
Sumitomo Corp.		89,500		1,124,752
Sumitomo Electric Industries Ltd.		14,600		178,206
Sumitomo Heavy Industries Ltd.		10,000		39,411
Sumitomo Metal Mining Co., Ltd.		11,000		155,181
Sumitomo Mitsui Financial Group, Inc.		25,884		1,055,873
Sumitomo Mitsui Trust Holdings, Inc.		60,070		283,966
Sumitomo Realty & Development Co., Ltd.		7,000		271,047
Sumitomo Rubber Industries Ltd.		3,000		50,035
Suruga Bank Ltd.		4,000		64,036
Suzuken Co., Ltd.		1,300		47,023
Suzuki Motor Corp.		7,000		156,084
Sysmex Corp.		1,400		85,069
T&D Holdings, Inc.		11,200		133,136
Taiheiyo Cement Corp.		20,000		47,804
Taisei Corp.		19,000		52,680
Taisho Pharmaceutical Holdings Co., Ltd.		600		42,386
Taiyo Nippon Sanso Corp.		6,000		41,557
Takashimaya Co., Ltd.		4,000		39,518
Takeda Pharmaceutical Co., Ltd.		15,200		829,957
TDK Corp.		2,500		87,242
Teijin Ltd.		16,000		36,883
Terumo Corp.		2,900		123,997
THK Co., Ltd.		2,100		41,404
Tobu Railway Co., Ltd.		19,000		108,791
Toho Co., Ltd.		2,100		43,814
Toho Gas Co., Ltd.		7,000		44,468
Tohoku Electric Power Co., Inc.*		9,300		73,898
Tokio Marine Holdings, Inc.		13,300		382,039
Tokyo Electric Power Co., Inc.*		29,100		71,718
Tokyo Electron Ltd.		3,300		139,874
Tokyo Gas Co., Ltd.		47,000		253,636
Tokyu Corp.		22,000		162,426
Tokyu Land Corp.		7,000		65,587
TonenGeneral Sekiyu KK		4,000		39,560
Toppan Printing Co., Ltd.		11,000		78,993
Toray Industries, Inc.		28,000		189,175
Toshiba Corp.		78,000		394,412
TOTO Ltd.		4,000		35,778
Toyo Seikan Kaisha Ltd.		2,800		38,489
Toyo Suisan Kaisha Ltd.		2,000		61,614
Toyoda Gosei Co., Ltd.		1,400		33,477
Toyota Boshoku Corp.		1,400		19,691
Toyota Industries Corp.		3,000		109,789
Toyota Motor Corp.		88,900		4,556,674
Toyota Tsusho Corp.		4,000		101,896
Trend Micro, Inc.		2,000		55,898
Tsumura & Co.		1,300		47,437
Ube Industries Ltd.		18,000		35,375
Unicharm Corp.		2,200		125,501
Ushio, Inc.		2,200		22,413
USS Co., Ltd.		400		45,892
West Japan Railway Co.		3,300		158,453
Yahoo! Japan Corp.		1,601		735,574

See Notes to Portfolio of Investments.

65

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Yakult Honsha Co., Ltd.		1,900	$	76,497
Yamada Denki Co., Ltd.		1,730		79,025
Yamaguchi Financial Group, Inc.		3,000		29,861
Yamaha Corp.		2,500		24,221
Yamaha Motor Co., Ltd.		5,500		73,968
Yamato Holdings Co., Ltd.		7,200		130,179
Yamato Kogyo Co., Ltd.		900		24,542
Yamazaki Baking Co., Ltd.		2,000		26,345
Yaskawa Electric Corp.		3,000		29,989
Yokogawa Electric Corp.		3,600		35,948
				89,859,283
Luxembourg (0.1%)
ArcelorMittal S.A.		18,979		244,499
Millicom International Cellular S.A. (SDR)		1,200		95,848
SES S.A. (FDR)		5,861		183,691
Tenaris S.A		9,109		185,070
				709,108
Macau (0.2%)
MGM China Holdings Ltd.		16,400		35,071
Sands China Ltd.		208,133		1,079,201
Wynn Macau Ltd.*		28,000		74,306
				1,188,578
Mexico (0.1%)
America Movil S.A.B. de C.V. (ADR)		18,078		378,915
Fresnillo plc		3,316		68,322
				447,237
Netherlands (4.1%)
Aegon N.V		34,228		205,818
Akzo Nobel N.V		17,812		1,130,656
ASML Holding N.V		6,068		408,126
Core Laboratories N.V		36,801		5,075,594
Corio N.V. (REIT)		1,267		59,109
D.E Master Blenders 1753 N.V.*		9,764		150,818
Delta Lloyd N.V		3,469		59,497
Fugro N.V. (CVA)		1,416		78,376
Gemalto N.V		1,529		133,375
Heineken Holding N.V		1,946		124,699
Heineken N.V		4,442		334,806
ING Groep N.V. (CVA)*		199,010		1,412,494
Koninklijke (Royal) KPN N.V		18,241		61,355
Koninklijke Ahold N.V		19,431		297,771
Koninklijke Boskalis Westminster N.V		1,550		61,573
Koninklijke DSM N.V		2,975		173,171
Koninklijke Philips Electronics N.V		18,442		545,727
Koninklijke Vopak N.V		1,326		79,938
LyondellBasell Industries N.V., Class A		51,965		3,288,865
QIAGEN N.V.*		4,382		91,334
Randstad Holding N.V		2,246		91,956
Reed Elsevier N.V		13,285		227,598
Royal Dutch Shell plc (BATS Europe Exchange), Class A		145,765		4,706,723
Royal Dutch Shell plc (Euro Comp Exchange), Class A		71,991		2,328,843
Royal Dutch Shell plc, Class B		50,461		1,675,304
TNT Express N.V		6,533		47,884
Unilever N.V. (CVA)		31,376		1,285,209
Wolters Kluwer N.V		5,829		127,284
Yandex N.V., Class A*		112,544		2,602,017
Ziggo N.V		78,293		2,753,373
				29,619,293
New Zealand (0.0%)
Auckland International Airport Ltd.		20,107		49,545
Contact Energy Ltd.		7,698		36,713
Fletcher Building Ltd.		12,853		92,163
SKYCITY Entertainment Group Ltd.		10,368		38,256
Telecom Corp. of New Zealand Ltd.		33,653		65,889
				282,566
Norway (1.5%)
Aker Solutions ASA		3,108		57,789
DNB ASA		254,914		3,738,113
Gjensidige Forsikring ASA		3,763		62,075
Norsk Hydro ASA		359,845		1,555,021
Orkla ASA		14,754		117,966
Seadrill Ltd.		45,901		1,663,698
Statoil ASA		21,503		519,834
Statoil ASA (ADR)		98,981		2,436,912
Telenor ASA		13,532		295,859
Yara International ASA		3,564		161,458
				10,608,725
Portugal (0.0%)
Banco Espirito Santo S.A. (Registered)*		41,910		42,924
EDP - Energias de Portugal S.A		36,705		113,015
Galp Energia SGPS S.A., Class B		5,351		83,819
Jeronimo Martins SGPS S.A.		4,074		79,352
Portugal Telecom SGPS S.A. (Registered)		12,491		61,869
				380,979
Singapore (0.8%)
Ascendas Real Estate Investment Trust (REIT)		37,000		77,559
CapitaCommercial Trust (REIT).		36,000		46,003
CapitaLand Ltd.		49,000		139,453
CapitaMall Trust (REIT)		42,000		70,770
CapitaMalls Asia Ltd.		25,032		41,372
City Developments Ltd.		10,000		91,345
ComfortDelGro Corp., Ltd.		36,000		55,436
DBS Group Holdings Ltd.		35,000		451,485
Genting Singapore plc		117,677		141,837
Global Logistic Properties Ltd.		640,000		1,351,876
Golden Agri-Resources Ltd.		133,576		62,461
Hutchison Port Holdings Trust, Class U		107,000		90,950
Jardine Cycle & Carriage Ltd.		2,000		82,444
Keppel Corp., Ltd.		27,800		251,026
Keppel Land Ltd.		16,000		50,824
Olam International Ltd.		28,962		40,162
Oversea-Chinese Banking Corp., Ltd.		49,525		425,236
SembCorp Industries Ltd.		20,000		83,686
SembCorp Marine Ltd.		16,000		57,145
Singapore Airlines Ltd.		10,000		87,637
Singapore Exchange Ltd.		16,000		99,327
Singapore Press Holdings Ltd.		30,000		108,357
Singapore Technologies Engineering Ltd.		31,000		107,720
Singapore Telecommunications Ltd.		154,000		445,729

See Notes to Portfolio of Investments.

66

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
StarHub Ltd.		10,000	$	35,071
United Overseas Bank Ltd.		25,000		410,771
UOL Group Ltd.		106,000		596,509
Wilmar International Ltd.		36,000		100,133
				5,602,324
South Africa (0.2%)
Naspers Ltd., Class N		24,940		1,553,715
South Korea (1.4%)
Hanjin Shipping Co., Ltd.*		59,250		559,163
Hyundai Mobis		11,138		3,113,355
Hyundai Motor Co.		9,816		1,971,846
POSCO		4,698		1,380,771
Samsung Electronics Co., Ltd.		2,469		3,350,881
				10,376,016
Spain (1.2%)
Abertis Infraestructuras S.A		7,079		118,963
Acciona S.A		513		27,967
ACS Actividades de Construccion y Servicios S.A		2,865		66,858
Amadeus IT Holding S.A., Class A		95,961		2,592,385
Banco Bilbao Vizcaya Argentaria S.A		187,498		1,625,449
Banco de Sabadell S.A.*		53,862		98,870
Banco Popular Espanol S.A		104,741		77,604
Banco Santander S.A		202,972		1,363,862
Bankia S.A.*		18,011		3,809
CaixaBank		21,907		74,135
Distribuidora Internacional de Alimentacion S.A		11,332		78,382
Enagas S.A		3,691		85,944
Ferrovial S.A		7,789		123,606
Gas Natural SDG S.A		6,760		119,668
Grifols S.A.*		2,848		105,597
Iberdrola S.A		90,954		423,569
Inditex S.A		4,203		557,079
Mapfre S.A		14,674		45,351
Red Electrica Corporacion S.A		2,089		105,103
Repsol S.A		16,067		326,438
Telefonica S.A		78,895		1,060,870
Zardoya Otis S.A		2,847		38,063
				9,119,572
Sweden (1.6%)
Alfa Laval AB		6,475		149,143
Assa Abloy AB, Class B		6,441		263,015
Atlas Copco AB, Class A		46,042		1,307,098
Atlas Copco AB, Class B		7,526		190,097
Boliden AB		5,158		83,031
Electrolux AB		4,645		118,182
Elekta AB, Class B		6,896		104,712
Getinge AB, Class B		125,621		3,836,168
Hennes & Mauritz AB, Class B		18,291		653,997
Hexagon AB, Class B		4,571		124,506
Husqvarna AB, Class B*		7,637		45,073
Industrivarden AB, Class C		2,528		46,009
Investment AB Kinnevik, Class B		3,811		92,343
Investor AB, Class B		8,782		253,627
Lundin Petroleum AB*		4,239		91,720
Nordea Bank AB		50,718		574,382
Ratos AB, Class B		3,434		36,282
Sandvik AB		19,343		297,422
Scania AB, Class B		6,177		129,198
Securitas AB, Class B		6,068		57,127
Skandinaviska Enskilda Banken AB, Class A		27,192		273,107
Skanska AB, Class B		7,334		132,577
SKF AB, Class B		7,563		184,417
Svenska Cellulosa AB, Class B* .		11,194		288,587
Svenska Handelsbanken AB, Class A		9,573		409,125
Swedbank AB, Class A		15,581		354,345
Swedish Match AB		3,976		123,431
Tele2 AB, Class B		6,050		105,281
Telefonaktiebolaget LM Ericsson, Class B		58,627		730,526
TeliaSonera AB		41,736		298,007
Volvo AB, Class B		29,242		425,176
				11,777,711
Switzerland (8.2%)
ABB Ltd. (Registered)*		89,218		2,012,175
Actelion Ltd. (Registered)*		2,081		113,005
Adecco S.A. (Registered)*		2,557		140,065
Aryzta AG*		1,640		96,831
Baloise Holding AG (Registered)		866		81,099
Banque Cantonale Vaudoise (Registered)		65		36,290
Barry Callebaut AG (Registered)*		31		29,896
Cie Financiere Richemont S.A., Class A		20,426		1,603,010
Credit Suisse Group AG (Registered)*		70,575		1,851,915
Credit Suisse Group AG (ADR) .		59,899		1,569,354
Dufry AG (Registered)*		9,417		1,168,569
EMS-Chemie Holding AG (Registered)		175		52,631
Geberit AG (Registered)*		711		175,035
Givaudan S.A. (Registered)*		160		196,524
Glencore International plc		75,244		407,127
Holcim Ltd. (Registered)*		16,029		1,277,356
Julius Baer Group Ltd.*		4,181		162,563
Kuehne + Nagel International AG (Registered)		1,043		113,716
Lindt & Spruengli AG*		18		69,266
Lindt & Spruengli AG (Registered)*		2		90,256
Lonza Group AG (Registered)* .		995		64,566
Nestle S.A. (Registered)		151,616		10,964,330
Novartis AG (Registered)		77,534		5,508,973
Novartis AG (ADR)		40,888		2,912,861
Pargesa Holding S.A		486		32,996
Partners Group Holding AG		336		82,929
Roche Holding AG		52,090		12,126,714
Schindler Holding AG		938		137,444
Schindler Holding AG (Registered)		425		60,618
SGS S.A. (Registered)		313		767,580
Sika AG		39		94,737
Sonova Holding AG (Registered)*		948		113,744
STMicroelectronics N.V		12,083		92,932
Sulzer AG (Registered)		487		83,210
Swatch Group AG		3,920		2,279,406
Swatch Group AG (Registered) .		887		90,027
Swiss Life Holding AG (Registered)*		562		83,297
Swiss Prime Site AG (Registered)*		1,081		87,512
Swiss Reinsurance AG*		6,785		551,777

See Notes to Portfolio of Investments.

67

AXA PREMIER VIP TRUST

MULTIMANAGER INTERNATIONAL EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Swisscom AG (Registered)		450	$	208,196
Syngenta AG (Registered)		1,794		748,366
Transocean Ltd. (BATS Europe Exchange)*		6,927		359,229
Transocean Ltd. (New York Exchange)*		50,895		2,644,504
UBS AG (Registered)		266,710		4,087,886
Wolseley plc		5,283		262,732
Xstrata plc		99,911		1,621,328
Zurich Insurance Group AG*		8,262		2,299,400
				59,613,977
Taiwan (0.6%)
Advanced Semiconductor Engineering, Inc. (ADR)		625,482		2,570,731
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)		119,091		2,047,174
				4,617,905
Turkey (0.5%)
Akbank TAS		432,085		2,268,727
Turkiye Garanti Bankasi A/S		203,188		1,078,099
				3,346,826
United Kingdom (15.0%)
3i Group plc		19,590		94,061
Aberdeen Asset Management plc		17,426		113,643
Admiral Group plc		4,138		83,749
Aggreko plc		28,180		763,019
AMEC plc		5,755		92,341
Anglo American plc		26,793		688,824
Antofagasta plc		7,613		113,825
ARM Holdings plc		114,171		1,597,724
ARM Holdings plc (ADR)		154,756		6,557,012
Associated British Foods plc		6,872		198,496
AstraZeneca plc		23,984		1,202,420
Aviva plc		214,876		967,073
Babcock International Group plc		6,934		114,630
BAE Systems plc		62,651		375,354
Balfour Beatty plc		13,571		48,417
Barclays plc		866,459		3,833,109
BG Group plc		182,447		3,129,804
BHP Billiton plc		40,680		1,183,685
BP plc		367,144		2,565,584
British American Tobacco plc		64,604		3,462,193
British Land Co. plc (REIT)		16,405		135,476
British Sky Broadcasting Group plc		272,582		3,657,163
BT Group plc		151,767		641,075
Bunzl plc		6,411		126,148
Burberry Group plc		62,856		1,269,282
Capita plc		12,629		172,510
Carnival plc		3,520		123,229
Centrica plc		298,773		1,669,250
Cobham plc		21,983		81,167
Compass Group plc		35,424		452,399
Croda International plc		2,508		104,530
Diageo plc		275,965		8,700,786
Eurasian Natural Resources Corp.		4,119		15,402
Evraz plc		4,789		16,154
G4S plc		27,238		120,601
GKN plc		30,311		121,818
GlaxoSmithKline plc		141,262		3,302,245
Hammerson plc (REIT)		13,620		101,798
Hargreaves Lansdown plc		4,385		57,833
HSBC Holdings plc (Hong Kong Exchange)		241,833		2,554,612
HSBC Holdings plc (London Exchange)		522,769		5,580,107
ICAP plc		10,613		46,830
IMI plc		6,088		119,793
Imperial Tobacco Group plc		51,880		1,812,280
Inmarsat plc		8,248		88,040
InterContinental Hotels Group plc		100,572		3,066,979
International Consolidated Airlines Group S.A.*		18,098		69,597
Intertek Group plc		3,103		159,975
Intu Properties plc (REIT)		11,139		56,581
Invensys plc		14,934		79,602
Investec plc		10,951		76,375
ITV plc		71,731		141,035
J Sainsbury plc		23,696		136,279
Johnson Matthey plc		3,955		138,217
Kazakhmys plc		4,095		24,416
Kingfisher plc		45,704		199,863
Land Securities Group plc (REIT)		15,039		189,435
Legal & General Group plc		113,972		299,073
Lloyds Banking Group plc*		813,095		601,544
London Stock Exchange Group plc		3,492		69,295
Marks & Spencer Group plc		162,510		963,011
Meggitt plc		117,907		879,645
Melrose Industries plc		22,236		89,703
National Grid plc		70,085		814,653
Next plc		24,671		1,636,654
Old Mutual plc		94,319		290,495
Pearson plc		15,751		283,365
Petrofac Ltd.		5,009		109,065
Prudential plc		204,266		3,305,461
Randgold Resources Ltd.		1,687		145,596
Reckitt Benckiser Group plc		12,466		893,658
Reed Elsevier plc		23,144		274,648
Resolution Ltd.		26,595		110,117
Rexam plc		15,247		122,206
Rio Tinto plc		46,763		2,192,017
Rio Tinto plc (ADR)		54,810		2,580,455
Rolls-Royce Holdings plc*		206,306		3,542,230
Royal Bank of Scotland Group plc*		40,973		171,516
RSA Insurance Group plc		68,996		122,029
SABMiller plc		18,444		970,777
Sage Group plc		23,418		121,941
Schroders plc		2,245		71,907
Segro plc (REIT)		14,515		56,085
Serco Group plc		9,154		87,210
Severn Trent plc		4,587		119,322
Smith & Nephew plc		17,409		201,036
Smiths Group plc		7,586		144,889
SSE plc		18,469		416,451
Standard Chartered plc		237,688		6,152,276
Standard Life plc		45,467		252,367
Subsea 7 S.A		5,433		126,971
Tate & Lyle plc		8,948		115,566
Telecity Group plc		248,954		3,417,698
Tesco plc		357,643		2,073,421
TUI Travel plc		8,244		40,786
Tullow Oil plc		152,784		2,857,737
Unilever plc		63,421		2,682,803
United Utilities Group plc		13,159		141,661

See Notes to Portfolio of Investments.

68

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Vedanta Resources plc		1,906	$	29,106
Vodafone Group plc		1,659,330		4,704,688
Weir Group plc		4,102		141,048
Whitbread plc		3,447		134,500
WM Morrison Supermarkets plc		43,248		181,500
WPP plc		111,737		1,780,979
				109,113,006
United States (1.3%)
Carnival Corp		66,943		2,296,145
Liberty Global, Inc.*		59,286		4,068,798
Perrigo Co		23,079		2,740,170
Sims Metal Management Ltd		3,578		37,364
				9,142,477
Total Common Stocks (77.7%)
(Cost $450,577,844)				564,186,111
INVESTMENT COMPANIES:
Exchange Traded Funds (ETFs)(0.7%)
iShares MSCI EAFE Index Fund		52,461		3,094,150
iShares MSCI United Kingdom Index Fund		95,526		1,745,260
Total Investment Companies (0.7%) (Cost $4,793,043)				4,839,410
Total Investments (78.4%) (Cost $455,370,887)				569,025,521
Other Assets Less Liabilities (21.6%)				156,458,615
Net Assets (100%)			$	725,484,136

* Non-income producing.

† Securities (totaling $25,445 or 0.0% of net assets) at fair value by management.

‡ Affiliated company as defined under the Investment Company Act of 1940.

(b) Illiquid Security.

Glossary:

ADR — American Depositary Receipt

CDI — Chess Depositary Interest

CVA — Dutch Certification

FDR — Finnish Depositary Receipt

REIT — Real Estate Investment Trust

RNC — Risparmio Non-Convertible Savings Shares

SDR — Swedish Certification

Market Sector Diversification

As a Percentage of Total Net Assets

Consumer Discretionary	11.3	%
Consumer Staples	8 .0
Energy	6 .5
Exchange Traded Funds	0 .7
Financials	17.3
Health Care	9 .1
Industrials	9 .1
Information Technology	6 .5
Materials	6 .1
Telecommunication Services	2 .4
Utilities	1 .4
Cash and Other	21 .6
	100.0	%

See Notes to Portfolio of Investments.

69

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December  31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
AXA S.A	$	732,309	$	—	$	129,142	$	585,616	$	—	$	(15,375	)

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Purchases
DJ EURO Stoxx 50 Index		1,694		June-13	$	57,500,925	$	55,458,932	$	(2,041,993	)
FTSE 100 Index		376		June-13		36,783,180		36,284,101		(499,079	)
SPI 200 Index		111		June-13		14,622,404		14,350,612		(271,792	)
TOPIX Index		332		June-13		34,868,976		36,696,871		1,827,895
									$	(984,969	)

At March 31, 2013, the Portfolio had outstanding foreign currency contracts to buy/sell foreign currencies as follows: (Note 1)

	Counterparty	Local Contract  Buy Amount (000’s)		U.S. $ Current Value		U.S. $ Settlement Value		Unrealized Appreciation/ (Depreciation)
Foreign Currency Buy Contracts
European Union Euro vs. U.S. Dollar, expiring 6/14/13	HSBC Bank plc		9,000	$	11,536,650	$	11,661,750	$	(125,100	)
South African Rand vs. U.S. Dollar, expiring 4/4/13	State Street Bank & Trust		679		73,879		73,472		407
								$	(124,693	)

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities (a)		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	7,609,145	$	74,368,998	$	—	$	81,978,143
Consumer Staples		—		58,405,330		—		58,405,330
Energy		10,157,010		37,178,232		—		47,335,242
Financials		12,629,603		112,777,866		—		125,407,469
Health Care		11,832,060		54,013,662		—		65,845,722
Industrials		3,442,464		62,422,493		—		65,864,957
Information Technology		19,623,759		27,735,230		—		47,358,989
Materials		8,467,949		35,957,090		25,445		44,450,484
Telecommunication Services		2,098,054		15,534,711		—		17,632,765
Utilities		—		9,907,010		—		9,907,010
Forward Currency Contracts		—		407		—		407

See Notes to Portfolio of Investments.

70

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investment Type	Level 1 Quoted prices in active markets for identical securities (a)			Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)			Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Futures	$	1,827,895		$	—		$	—	$	1,827,895
Investment Companies
Exchange Traded Funds (ETFs)		4,839,410			—			—		4,839,410
Total Assets	$	82,527,349		$	488,301,029		$	25,445	$	570,853,823
Liabilities:
Forward Currency Contracts	$	—		$	(125,100	)	$	—	$	(125,100	)
Futures		(2,812,864	)		—			—		(2,812,864	)
Total Liabilities	$	(2,812,864	)	$	(125,100	)	$	—	$	(2,937,964	)
Total	$	79,714,485		$	488,175,929		$	25,445	$	567,915,859

(a) A security with a market value of $2,280,368 transferred from Level 2 to Level 1 since the beginning of the period because they are no longer valued using fair value factors based on third party vendor modeling tools.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

	Investments in Common Stocks- Financials†		Investments in Common Stocks- Industrials			Investments in Common Stocks- Materials			Investments in Rights- Consumer Staples
Balance as of 12/31/12	$	—	$	23,463		$	—		$	—
Total gains or losses (realized/unrealized) included in earnings		—		(186	)		4,717			872
Purchases		—		—			—			—
Sales		—		—			(12,190	)		(872	)
Issuances		—		—			—			—
Settlements		—		(23,277	)		—			—
Transfers into Level 3		—		—			32,918			—
Transfers out of Level 3		—		—			—			—
Balance as of 3/31/13	$	—	$	—		$	25,445		$	—
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	—	$	—		$	2,049		$	—

† Security held at $0 cost.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	59,010,931
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	113,333,225

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	136,307,249
Aggregate gross unrealized depreciation		(29,026,507	)
Net unrealized appreciation	$	107,280,742
Federal income tax cost of investments	$	461,744,779

See Notes to Portfolio of Investments.

71

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MULTIMANAGER LARGE CAP CORE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Consumer Discretionary (14.2%)
Auto Components (0.8%)
BorgWarner, Inc.*		2,260	$	174,788
Delphi Automotive plc		77,612		3,445,973
Goodyear Tire & Rubber Co.*		4,700		59,267
Johnson Controls, Inc.		13,200		462,924
Lear Corp.		10,900		598,083
TRW Automotive Holdings Corp.*		8,700		478,500
				5,219,535
Automobiles (0.6%)
Ford Motor Co.		136,510		1,795,107
Harley-Davidson, Inc.		4,400		234,520
Tesla Motors, Inc.*		55,700		2,110,473
				4,140,100
Distributors (0.0%)
Genuine Parts Co.		3,000		234,000
Diversified Consumer Services (0.2%)
Apollo Group, Inc., Class A*		1,900		33,041
Bright Horizons Family Solutions, Inc.*		40,600		1,371,874
H&R Block, Inc.		5,200		152,984
				1,557,899
Hotels, Restaurants & Leisure (2.4%)
Carnival Corp.		8,600		294,980
Chipotle Mexican Grill, Inc.*		698		227,457
Darden Restaurants, Inc.		2,500		129,200
International Game Technology		5,100		84,150
Las Vegas Sands Corp.		58,676		3,306,393
Life Time Fitness, Inc.*		80,397		3,439,384
Marriott International, Inc., Class A		4,810		203,126
McDonald’s Corp.		22,600		2,252,994
Starbucks Corp.		89,100		5,075,136
Starwood Hotels & Resorts Worldwide, Inc.		3,800		242,174
Wyndham Worldwide Corp.		2,700		174,096
Wynn Resorts Ltd.		1,600		200,256
Yum! Brands, Inc.		8,800		633,072
				16,262,418
Household Durables (1.1%)
D.R. Horton, Inc.		5,300		128,790
Garmin Ltd.		68,587		2,266,114
Harman International Industries, Inc.		1,300		58,019
Leggett & Platt, Inc.		2,700		91,206
Lennar Corp., Class A		3,100		128,588
Newell Rubbermaid, Inc.		5,500		143,550
PulteGroup, Inc.*		35,907		726,758
Tupperware Brands Corp.		48,900		3,997,086
Whirlpool Corp.		1,500		177,690
				7,717,801
Internet & Catalog Retail (1.5%)
Amazon.com, Inc.*		21,385		5,698,889
Expedia, Inc.		1,850		111,018
Netflix, Inc.*		1,100		208,351
priceline.com, Inc.*		6,124		4,212,883
TripAdvisor, Inc.*		2,050		107,666
				10,338,807
Leisure Equipment & Products (0.1%)
Hasbro, Inc.		2,200		96,668
Mattel, Inc.		6,500		284,635
				381,303
Media (3.2%)
Cablevision Systems Corp. - New York Group, Class A		4,100		61,336
CBS Corp., Class B		89,379		4,173,106
Comcast Corp., Class A		88,100		3,701,081
DIRECTV*		12,390		701,398
Discovery Communications, Inc., Class A*		4,817		379,291
Gannett Co., Inc.		26,100		570,807
Interpublic Group of Cos., Inc.		8,400		109,452
News Corp., Class A		68,000		2,075,360
Omnicom Group, Inc.		5,100		300,390
Scripps Networks Interactive, Inc., Class A		1,700		109,378
Time Warner Cable, Inc.		29,906		2,872,770
Time Warner, Inc.		18,333		1,056,347
Viacom, Inc., Class B		53,416		3,288,823
Walt Disney Co.		52,300		2,970,640
Washington Post Co., Class B		100		44,700
				22,414,879
Multiline Retail (0.4%)
Dollar General Corp.*		4,420		223,563
Dollar Tree, Inc.*		4,420		214,061
Family Dollar Stores, Inc.		1,900		112,195
J.C. Penney Co., Inc.		2,700		40,797
Kohl’s Corp.		4,200		193,746
Macy’s, Inc.		29,300		1,225,912
Nordstrom, Inc.		2,900		160,167
Target Corp.		12,600		862,470
				3,032,911
Specialty Retail (2.7%)
Abercrombie & Fitch Co., Class A		1,600		73,920
AutoNation, Inc.*		700		30,625
AutoZone, Inc.*		16,087		6,382,839
Bed Bath & Beyond, Inc.*		4,500		289,890
Best Buy Co., Inc.		5,100		112,965
CarMax, Inc.*		4,378		182,563
GameStop Corp., Class A		27,900		780,363
Gap, Inc.		5,700		201,780
Home Depot, Inc.		48,500		3,384,330
L Brands, Inc.		4,600		205,436
Lowe’s Cos., Inc.		30,100		1,141,392
OfficeMax, Inc.		71,360		828,490
O’Reilly Automotive, Inc.*		2,300		235,865
PetSmart, Inc.		2,010		124,821
Ross Stores, Inc.		4,300		260,666
Staples, Inc.		13,100		175,933
Tiffany & Co.		2,300		159,942
TJX Cos., Inc.		90,610		4,236,017
Urban Outfitters, Inc.*		2,047		79,301
				18,887,138
Textiles, Apparel & Luxury Goods (1.2%)
Coach, Inc.		59,836		2,991,202
Fossil, Inc.*		1,096		105,873
NIKE, Inc., Class B		75,980		4,483,580
PVH Corp.		1,536		164,060
Ralph Lauren Corp.		1,200		203,172
VF Corp.		1,700		285,175
				8,233,062
Total Consumer Discretionary				98,419,853

See Notes to Portfolio of Investments.

72

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Consumer Staples (8.0%)
Beverages (1.2%)
Beam, Inc.		3,100	$	196,974
Brown-Forman Corp., Class B		2,900		207,060
Coca-Cola Co.		90,100		3,643,644
Coca-Cola Enterprises, Inc.		5,300		195,676
Constellation Brands, Inc., Class A*		2,800		133,392
Dr. Pepper Snapple Group, Inc.		4,000		187,800
Molson Coors Brewing Co., Class B		3,000		146,790
Monster Beverage Corp.*		3,000		143,220
PepsiCo, Inc.		39,193		3,100,558
				7,955,114
Food & Staples Retailing (2.4%)
Costco Wholesale Corp.		8,400		891,324
CVS Caremark Corp.		33,000		1,814,670
Koninklijke Ahold N.V.		95,400		1,461,959
Kroger Co.		57,700		1,912,178
Safeway, Inc.		4,600		121,210
Sysco Corp.		11,300		397,421
Walgreen Co.		157,700		7,519,136
Wal-Mart Stores, Inc.		32,431		2,426,812
Whole Foods Market, Inc.		3,300		286,275
				16,830,985
Food Products (1.6%)
Archer-Daniels-Midland Co.		12,700		428,371
Bunge Ltd.		2,900		214,107
Campbell Soup Co.		3,400		154,224
ConAgra Foods, Inc.		13,000		465,530
Dean Foods Co.*		3,500		63,455
General Mills, Inc.		12,500		616,375
H.J. Heinz Co.		6,200		448,074
Hershey Co.		2,900		253,837
Hormel Foods Corp.		2,500		103,300
J.M. Smucker Co.		2,100		208,236
Kellogg Co.		4,800		309,264
Kraft Foods Group, Inc.		11,400		587,442
McCormick & Co., Inc. (Non-Voting)		2,600		191,230
Mead Johnson Nutrition Co.		3,893		301,513
Mondelez International, Inc., Class A		172,700		5,286,347
Smithfield Foods, Inc.*		15,900		421,032
Tyson Foods, Inc., Class A		40,200		997,764
				11,050,101
Household Products (1.1%)
Clorox Co.		2,500		221,325
Colgate-Palmolive Co.		8,600		1,015,058
Kimberly-Clark Corp.		10,500		1,028,790
Procter & Gamble Co.		70,200		5,409,612
				7,674,785
Personal Products (0.2%)
Avon Products, Inc.		8,300		172,059
Estee Lauder Cos., Inc., Class A		18,069		1,156,958
				1,329,017
Tobacco (1.5%)
Altria Group, Inc.		101,862		3,503,034
Lorillard, Inc.		7,500		302,625
Philip Morris International, Inc.		67,052		6,216,391
Reynolds American, Inc.		6,300		280,287
				10,302,337
Total Consumer Staples				55,142,339
Energy (8.4%)
Energy Equipment & Services (1.4%)
Baker Hughes, Inc.		8,463		392,768
Cameron International Corp.*		4,700		306,440
Diamond Offshore Drilling, Inc.		10,200		709,512
Ensco plc, Class A		4,510		270,600
FMC Technologies, Inc.*		4,600		250,194
Halliburton Co.		32,300		1,305,243
Helix Energy Solutions Group, Inc.*		15,300		350,064
Helmerich & Payne, Inc.		1,993		120,975
Nabors Industries Ltd.		5,600		90,832
National Oilwell Varco, Inc.		48,926		3,461,514
Noble Corp.		4,793		182,853
Rowan Cos., plc, Class A*		2,400		84,864
Schlumberger Ltd.		25,583		1,915,911
				9,441,770
Oil, Gas & Consumable Fuels (7.0%)
Anadarko Petroleum Corp.		46,100		4,031,445
Apache Corp.		7,600		586,416
BP plc (ADR)		9,700		410,795
Cabot Oil & Gas Corp.		4,000		270,440
Chesapeake Energy Corp.		10,000		204,100
Chevron Corp.		69,354		8,240,642
ConocoPhillips Co.		23,400		1,406,340
CONSOL Energy, Inc.		4,300		144,695
Denbury Resources, Inc.*		7,505		139,968
Devon Energy Corp.		7,300		411,866
EOG Resources, Inc.		5,200		665,964
EQT Corp.		2,900		196,475
Exxon Mobil Corp.#		203,725		18,357,660
Hess Corp.		5,700		408,177
INPEX Corp.		436		2,334,350
Kinder Morgan, Inc.		11,000		425,480
Marathon Oil Corp.		13,600		458,592
Marathon Petroleum Corp.		17,750		1,590,400
Murphy Oil Corp.		3,600		229,428
Newfield Exploration Co.*		2,600		58,292
Noble Energy, Inc.		3,400		393,244
Occidental Petroleum Corp.		15,700		1,230,409
Peabody Energy Corp.		5,100		107,865
Phillips 66		15,700		1,098,529
Pioneer Natural Resources Co.		2,400		298,200
QEP Resources, Inc.		3,347		106,569
Range Resources Corp.		3,100		251,224
Royal Dutch Shell plc (ADR), Class A		9,000		586,440
Southwestern Energy Co.*		6,700		249,642
Spectra Energy Corp.		12,600		387,450
Tesoro Corp.		2,700		158,085
Total S.A		33,500		1,604,097
Valero Energy Corp.		26,600		1,210,034
Williams Cos., Inc.		12,000		449,520
WPX Energy, Inc.*		3,800		60,876
				48,763,709
Total Energy				58,205,479
Financials (12.4%)
Capital Markets (1.0%)
Ameriprise Financial, Inc.		4,100		301,965
Bank of New York Mellon Corp.		22,800		638,172
BlackRock, Inc.		2,462		632,438
Blackstone Group LP		15,361		303,841
Charles Schwab Corp.		21,100		373,259
E*TRADE Financial Corp.*		4,860		52,051
Franklin Resources, Inc.		2,700		407,187
Goldman Sachs Group, Inc.		11,248		1,655,143
Invesco Ltd.		8,500		246,160
Legg Mason, Inc.		2,300		73,945

See Notes to Portfolio of Investments.

73

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MULTIMANAGER LARGE CAP CORE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Morgan Stanley		26,600	$	584,668
Northern Trust Corp.		4,200		229,152
State Street Corp.		11,900		703,171
T. Rowe Price Group, Inc.		4,900		366,863
				6,568,015
Commercial Banks (1.9%)
BB&T Corp.		36,800		1,155,152
CIT Group, Inc.*		59,118		2,570,451
Comerica, Inc.		3,700		133,015
Fifth Third Bancorp		17,700		288,687
First Horizon National Corp.		4,797		51,232
Huntington Bancshares, Inc./Ohio		16,500		121,935
KeyCorp		18,200		181,272
M&T Bank Corp.		2,300		237,268
PNC Financial Services Group, Inc.		10,262		682,423
Regions Financial Corp.		27,200		222,768
SunTrust Banks, Inc.		13,400		386,054
U.S. Bancorp		47,200		1,601,496
Wells Fargo & Co.		149,100		5,515,209
Zions Bancorp		3,500		87,465
				13,234,427
Consumer Finance (0.9%)
American Express Co.		19,025		1,283,426
Capital One Financial Corp.		59,921		3,292,659
Discover Financial Services		32,700		1,466,268
SLM Corp.		9,000		184,320
				6,226,673
Diversified Financial Services (3.8%)
Bank of America Corp.		332,886		4,054,551
Citigroup, Inc.		205,083		9,072,872
CME Group, Inc./Illinois		5,900		362,201
IntercontinentalExchange, Inc.*		1,400		228,298
JPMorgan Chase & Co.		245,850		11,668,041
Leucadia National Corp.		3,800		104,234
McGraw-Hill Cos., Inc.		5,400		281,232
Moody’s Corp.		3,700		197,284
NASDAQ OMX Group, Inc.		2,200		71,060
NYSE Euronext		4,700		181,608
				26,221,381
Insurance (4.0%)
ACE Ltd.		28,865		2,568,119
Aflac, Inc.		9,000		468,180
Allstate Corp.		9,300		456,351
American International Group, Inc.*		33,038		1,282,535
Aon plc		6,200		381,300
Assurant, Inc.		1,500		67,515
Berkshire Hathaway, Inc., Class B*		35,442		3,693,056
Chubb Corp.		15,700		1,374,221
Cincinnati Financial Corp.		2,800		132,132
Everest Reinsurance Group Ltd.		4,800		623,328
Fidelity National Financial, Inc., Class A		17,500		441,525
Genworth Financial, Inc., Class A*		31,400		314,000
Hartford Financial Services Group, Inc.		255,100		6,581,580
Lincoln National Corp.		5,300		172,833
Loews Corp.		6,000		264,420
Marsh & McLennan Cos., Inc.		10,500		398,685
MetLife, Inc.		126,631		4,814,511
PartnerReinsurance Ltd.		8,600		800,746
Principal Financial Group, Inc.		5,300		180,359
Progressive Corp.		10,800		272,916
Prudential Financial, Inc.		9,000		530,910
Reinsurance Group of America, Inc.		4,200		250,614
Torchmark Corp.		6,800		406,640
Travelers Cos., Inc.		9,900		833,481
Unum Group		5,400		152,550
Validus Holdings Ltd.		5,600		209,272
XL Group plc		5,900		178,770
				27,850,549
Real Estate Investment Trusts (REITs) (0.8%)
American Tower Corp. (REIT)		7,600		584,592
Apartment Investment & Management Co. (REIT), Class A		2,800		85,848
AvalonBay Communities, Inc. (REIT)		1,900		240,673
Boston Properties, Inc. (REIT)		2,900		293,074
Equity Residential (REIT)		5,800		319,348
HCP, Inc. (REIT)		8,300		413,838
Health Care REIT, Inc. (REIT)		4,400		298,804
Host Hotels & Resorts, Inc. (REIT)		13,858		242,377
Kimco Realty Corp. (REIT)		7,800		174,720
Plum Creek Timber Co., Inc. (REIT)		3,100		161,820
Prologis, Inc. (REIT)		8,847		353,703
Public Storage (REIT)		2,800		426,496
Simon Property Group, Inc. (REIT)		5,909		936,931
Ventas, Inc. (REIT)		5,708		417,826
Vornado Realty Trust (REIT)		3,269		273,419
Weyerhaeuser Co. (REIT)		10,322		323,904
				5,547,373
Real Estate Management & Development (0.0%)
CBRE Group, Inc., Class A*		5,800		146,450
Thrifts & Mortgage Finance (0.0%)
Hudson City Bancorp, Inc.		9,100		78,624
People’s United Financial, Inc.		6,700		90,048
				168,672
Total Financials				85,963,540
Health Care (12.8%)
Biotechnology (2.8%)
Alexion Pharmaceuticals, Inc.*		3,780		348,289
Amgen, Inc.		14,855		1,522,786
Biogen Idec, Inc.*		4,600		887,386
Celgene Corp.*		24,388		2,826,813
Gilead Sciences, Inc.*		201,600		9,864,288
Seattle Genetics, Inc.*		88,200		3,131,982
Vertex Pharmaceuticals, Inc.*		8,300		456,334
				19,037,878
Health Care Equipment & Supplies (1.0%)
Abbott Laboratories		30,300		1,070,196
Baxter International, Inc.		13,700		995,168
Becton, Dickinson and Co.		3,900		372,879
Boston Scientific Corp.*		27,300		213,213
C.R. Bard, Inc.		1,500		151,170
CareFusion Corp.*		4,250		148,708
Covidien plc		12,076		819,236
DENTSPLY International, Inc.		2,700		114,534
Edwards Lifesciences Corp.*		2,238		183,874
Intuitive Surgical, Inc.*		800		392,952
Medtronic, Inc.		34,200		1,606,032
St. Jude Medical, Inc.		6,000		242,640
Stryker Corp.		5,600		365,344
Varian Medical Systems, Inc.*		2,100		151,200
Zimmer Holdings, Inc.		3,400		255,748
				7,082,894

See Notes to Portfolio of Investments.

74

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Health Care Providers & Services (2.2%)
Aetna, Inc.		17,300	$	884,376
AmerisourceBergen Corp.		4,800		246,960
Cardinal Health, Inc.		6,600		274,692
Cigna Corp.		5,500		343,035
Community Health Systems, Inc.		103,438		4,901,927
Coventry Health Care, Inc.		2,600		122,278
DaVita HealthCare Partners, Inc.*		1,700		201,603
Express Scripts Holding Co.*		62,534		3,605,085
Health Net, Inc.*		9,700		277,614
Humana, Inc.		3,100		214,241
Laboratory Corp. of America Holdings*		1,900		171,380
McKesson Corp.		6,400		690,944
Patterson Cos., Inc.		1,600		60,864
Quest Diagnostics, Inc.		3,100		174,995
Tenet Healthcare Corp.*		2,000		95,160
UnitedHealth Group, Inc.		19,900		1,138,479
WellPoint, Inc.		26,000		1,721,980
				15,125,613
Health Care Technology (0.0%)
Cerner Corp.*		2,810		266,248
Life Sciences Tools & Services (1.4%)
Agilent Technologies, Inc.		6,700		281,199
Life Technologies Corp.*		3,400		219,742
PerkinElmer, Inc.		2,200		74,008
Thermo Fisher Scientific, Inc.		117,609		8,995,912
Waters Corp.*		1,700		159,647
				9,730,508
Pharmaceuticals (5.4%)
AbbVie, Inc.		39,400		1,606,732
Actavis, Inc.*		2,500		230,275
Allergan, Inc.		21,455		2,395,022
AstraZeneca plc (ADR)		12,100		604,758
Bristol-Myers Squibb Co.		32,324		1,331,426
Eli Lilly and Co.		19,700		1,118,763
Forest Laboratories, Inc.*		4,500		171,180
Hospira, Inc.*		3,100		101,773
Johnson & Johnson		68,400		5,576,652
Merck & Co., Inc.		76,441		3,380,985
Mylan, Inc.*		58,235		1,685,321
Perrigo Co.		17,169		2,038,475
Pfizer, Inc.		225,534		6,508,911
Roche Holding AG		8,100		1,885,705
Roche Holding AG (ADR)		8,800		515,680
Shire plc (ADR)		23,388		2,136,728
Valeant Pharmaceuticals International, Inc.*		48,348		3,627,067
Zoetis, Inc.*		78,028		2,606,135
				37,521,588
Total Health Care				88,764,729
Industrials (9.2%)
Aerospace & Defense (1.7%)
Boeing Co.		44,418		3,813,285
General Dynamics Corp.		6,400		451,264
Honeywell International, Inc.		15,100		1,137,785
L-3 Communications Holdings, Inc.		1,900		153,748
Lockheed Martin Corp.		5,200		501,904
Northrop Grumman Corp.		6,400		448,960
Precision Castparts Corp.		15,422		2,924,320
Raytheon Co.		6,400		376,256
Rockwell Collins, Inc.		2,700		170,424
Textron, Inc.		5,400		160,974
United Technologies Corp.		16,200		1,513,566
				11,652,486
Air Freight & Logistics (0.3%)
C.H. Robinson Worldwide, Inc.		3,100		184,326
Expeditors International of Washington, Inc.		4,000		142,840
FedEx Corp.		5,600		549,920
United Parcel Service, Inc., Class B		13,900		1,194,010
				2,071,096
Airlines (0.1%)
Delta Air Lines, Inc.*		41,500		685,165
Southwest Airlines Co.		14,300		192,764
				877,929
Building Products (0.0%)
Masco Corp.		6,800		137,700
Commercial Services & Supplies (1.3%)
ADT Corp.		101,460		4,965,452
Avery Dennison Corp.		1,950		83,986
Cintas Corp.		2,050		90,467
Iron Mountain, Inc.		3,103		112,670
Pitney Bowes, Inc.		3,850		57,211
Republic Services, Inc.		98,800		3,260,400
Stericycle, Inc.*		1,650		175,197
Tyco International Ltd.		8,920		285,440
Waste Management, Inc.		8,400		329,364
				9,360,187
Construction & Engineering (0.1%)
Fluor Corp.		3,200		212,256
Jacobs Engineering Group, Inc.*		2,500		140,600
Quanta Services, Inc.*		4,100		117,178
				470,034
Electrical Equipment (0.5%)
Eaton Corp. plc		8,901		545,186
Emerson Electric Co.		14,000		782,180
Rockwell Automation, Inc.		18,052		1,558,790
Roper Industries, Inc.		1,900		241,889
				3,128,045
Industrial Conglomerates (2.1%)
3M Co.		12,300		1,307,613
Danaher Corp.		11,300		702,295
General Electric Co.		549,265		12,699,007
				14,708,915
Machinery (1.1%)
Caterpillar, Inc.		12,600		1,095,822
Cummins, Inc.		3,400		393,754
Deere & Co.		22,996		1,977,196
Dover Corp.		3,500		255,080
Flowserve Corp.		2,500		419,275
Illinois Tool Works, Inc.		20,110		1,225,503
Ingersoll-Rand plc		7,200		396,072
Joy Global, Inc.		2,011		119,695
PACCAR, Inc.		6,800		343,808
Pall Corp.		2,200		150,414
Parker Hannifin Corp.		3,850		352,583
Pentair Ltd. (Registered)		4,047		213,479
Snap-on, Inc.		1,100		90,970
Stanley Black & Decker, Inc.		3,277		265,339
Timken Co.		7,800		441,324
Xylem, Inc.		3,500		96,460
				7,836,774

See Notes to Portfolio of Investments.

75

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Professional Services (1.0%)
Dun & Bradstreet Corp.		900	$	75,285
Equifax, Inc.		2,300		132,457
Nielsen Holdings N.V		178,000		6,375,960
Robert Half International, Inc.		2,650		99,455
				6,683,157
Road & Rail (0.9%)
CSX Corp.		20,000		492,600
Norfolk Southern Corp.		6,200		477,896
Ryder System, Inc.		1,000		59,750
Union Pacific Corp.		37,250		5,304,773
				6,335,019
Trading Companies & Distributors (0.1%)
Fastenal Co.		5,200		267,020
W.W. Grainger, Inc.		1,200		269,976
				536,996
Total Industrials				63,798,338
Information Technology (16.5%)
Communications Equipment (0.9%)
Cisco Systems, Inc.		132,400		2,768,484
F5 Networks, Inc.*		1,500		133,620
Harris Corp.		11,800		546,812
JDS Uniphase Corp.*		4,400		58,828
Juniper Networks, Inc.*		10,100		187,254
Motorola Solutions, Inc.		7,371		471,965
QUALCOMM, Inc.		32,900		2,202,655
				6,369,618
Computers & Peripherals (4.0%)
Apple, Inc.		51,286		22,700,722
Dell, Inc.		28,100		402,673
EMC Corp.*		40,500		967,545
Hewlett-Packard Co.		113,496		2,705,745
NetApp, Inc.*		7,000		239,120
SanDisk Corp.*		4,600		253,000
Seagate Technology plc		6,750		246,780
Western Digital Corp.		4,300		216,204
				27,731,789
Electronic Equipment, Instruments & Components (1.1%)
Amphenol Corp., Class A		48,190		3,597,383
Corning, Inc.		28,700		382,571
FLIR Systems, Inc.		2,900		75,429
Jabil Circuit, Inc.		3,600		66,528
Molex, Inc.		2,600		76,128
TE Connectivity Ltd.		83,831		3,515,034
				7,713,073
Internet Software & Services (3.6%)
Akamai Technologies, Inc.*		3,400		119,986
eBay, Inc.*		42,285		2,292,693
Google, Inc., Class A*		15,140		12,021,614
Liquidity Services, Inc.*		61,790		1,841,960
OpenTable, Inc.*		45,660		2,875,667
VeriSign, Inc.*		113,600		5,371,008
Yahoo!, Inc.*		20,100		472,953
				24,995,881
IT Services (2.6%)
Accenture plc, Class A		35,720		2,713,648
Amdocs Ltd.		35,820		1,298,475
Automatic Data Processing, Inc.		9,300		604,686
Cognizant Technology Solutions Corp., Class A*		17,578		1,346,651
Computer Sciences Corp.		2,900		142,767
Fidelity National Information Services, Inc.		4,800		190,176
Fiserv, Inc.*		2,600		228,358
International Business Machines Corp.		24,975		5,327,168
Mastercard, Inc., Class A		6,317		3,418,318
Paychex, Inc.		6,200		217,434
SAIC, Inc.		5,400		73,170
Teradata Corp.*		3,300		193,083
Total System Services, Inc.		3,100		76,818
Visa, Inc., Class A		11,180		1,898,811
Western Union Co.		28,683		431,392
				18,160,955
Office Electronics (0.0%)
Xerox Corp.		25,179		216,539
Semiconductors & Semiconductor Equipment (1.4%)
Advanced Micro Devices, Inc.*		11,600		29,580
Altera Corp.		6,100		216,367
Analog Devices, Inc.		5,700		264,993
Applied Materials, Inc.		86,500		1,166,020
Broadcom Corp., Class A		9,900		343,233
First Solar, Inc.*		1,100		29,656
Intel Corp.		96,560		2,109,836
KLA-Tencor Corp.		3,200		168,768
Lam Research Corp.*		3,502		145,193
Linear Technology Corp.		4,400		168,828
LSI Corp.*		10,700		72,546
Microchip Technology, Inc.		69,702		2,562,246
Micron Technology, Inc.*		84,400		842,312
NVIDIA Corp.		11,900		152,558
Teradyne, Inc.*		3,600		58,392
Texas Instruments, Inc.		21,900		777,012
Xilinx, Inc.		5,000		190,850
				9,298,390
Software (2.9%)
Activision Blizzard, Inc.		204,600		2,981,022
Adobe Systems, Inc.*		9,400		408,994
Autodesk, Inc.*		4,300		177,332
BMC Software, Inc.*		2,800		129,724
CA, Inc.		6,600		166,122
Citrix Systems, Inc.*		3,600		259,776
Electronic Arts, Inc.*		19,000		336,300
Intuit, Inc.		47,425		3,113,451
Microsoft Corp.		188,951		5,405,888
Oracle Corp.		106,700		3,450,678
Red Hat, Inc.*		3,700		187,072
Salesforce.com, Inc.*		2,500		447,075
Symantec Corp.*		37,400		923,032
VMware, Inc., Class A*		25,658		2,023,903
				20,010,369
Total Information Technology				114,496,614
Materials (3.2%)
Chemicals (2.5%)
Air Products and Chemicals, Inc.		4,100		357,192
Airgas, Inc.		1,400		138,824
CF Industries Holdings, Inc.		1,575		299,833
Dow Chemical Co.		23,100		735,504
E.I. du Pont de Nemours & Co.		64,690		3,180,160
Eastman Chemical Co.		2,900		202,623
Ecolab, Inc.		5,060		405,711
FMC Corp.		2,600		148,278
Huntsman Corp.		33,500		622,765

See Notes to Portfolio of Investments.

76

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
International Flavors & Fragrances, Inc.		1,600	$	122,672
LyondellBasell Industries N.V., Class A		106,207		6,721,841
Monsanto Co.		10,300		1,087,989
Mosaic Co.		5,300		315,933
PPG Industries, Inc.		3,900		522,366
Praxair, Inc.		5,800		646,932
Sherwin-Williams Co.		1,700		287,113
Sigma-Aldrich Corp.		2,300		178,664
Syngenta AG (ADR)		14,549		1,218,479
				17,192,879
Construction Materials (0.0%)
Vulcan Materials Co.		2,500		129,250
Containers & Packaging (0.1%)
Ball Corp.		3,000		142,740
Bemis Co., Inc.		1,900		76,684
MeadWestvaco Corp.		3,300		119,790
Owens-Illinois, Inc.*		3,100		82,615
Sealed Air Corp.		3,300		79,563
				501,392
Metals & Mining (0.5%)
Alcoa, Inc.		20,500		174,660
Allegheny Technologies, Inc.		2,000		63,420
Cliffs Natural Resources, Inc.		2,700		51,327
Freeport-McMoRan Copper & Gold, Inc.		18,300		605,730
Newcrest Mining Ltd.		90,500		1,889,192
Newmont Mining Corp.		9,600		402,144
Nucor Corp.		6,100		281,515
United States Steel Corp.		2,700		52,650
				3,520,638
Paper & Forest Products (0.1%)
International Paper Co.		8,400		391,272
Total Materials				21,735,431
Telecommunication Services (2.6%)
Diversified Telecommunication Services (1.6%)
AT&T, Inc.		119,745		4,393,444
CenturyLink, Inc.		16,309		572,935
Frontier Communications Corp.		19,206		76,440
Level 3 Communications, Inc.*		174,306		3,536,669
Verizon Communications, Inc.		55,000		2,703,250
Windstream Corp.		11,300		89,835
				11,372,573
Wireless Telecommunication Services (1.0%)
Crown Castle International Corp.*		5,650		393,466
KDDI Corp.		47,900		1,997,211
MetroPCS Communications, Inc.*		6,100		66,490
Softbank Corp.		37,712		1,730,662
Sprint Nextel Corp.*		430,200		2,671,542
				6,859,371
Total Telecommunication Services				18,231,944
Utilities (1.7%)
Electric Utilities (1.1%)
American Electric Power Co., Inc.		22,300		1,084,449
Duke Energy Corp.		13,642		990,273
Edison International		16,700		840,344
Entergy Corp.		3,400		215,016
Exelon Corp.		16,434		566,644
FirstEnergy Corp.		8,001		337,642
NextEra Energy, Inc.		8,200		636,976
Northeast Utilities		6,020		261,629
NV Energy, Inc.		35,400		709,062
Pepco Holdings, Inc.		4,400		94,160
Pinnacle West Capital Corp.		2,100		121,569
PPL Corp.		11,200		350,672
Southern Co.		16,900		792,948
Xcel Energy, Inc.		9,400		279,180
				7,280,564
Gas Utilities (0.1%)
AGL Resources, Inc.		2,279		95,604
Atmos Energy Corp.		12,200		520,818
ONEOK, Inc.		3,952		188,392
				804,814
Independent Power Producers & Energy Traders (0.0%)
AES Corp.		11,900		149,583
NRG Energy, Inc.		4,328		114,649
				264,232
Multi-Utilities (0.5%)
Ameren Corp.		4,600		161,092
CenterPoint Energy, Inc.		8,200		196,472
CMS Energy Corp.		5,100		142,494
Consolidated Edison, Inc.		5,600		341,768
Dominion Resources, Inc.		11,100		645,798
DTE Energy Co.		3,300		225,522
Integrys Energy Group, Inc.		1,500		87,240
NiSource, Inc.		5,500		161,370
PG&E Corp.		8,200		365,146
Public Service Enterprise Group, Inc.		9,700		333,098
SCANA Corp.		2,500		127,900
Sempra Energy		5,800		463,652
TECO Energy, Inc.		3,900		69,498
Wisconsin Energy Corp.		4,400		188,716
				3,509,766
Total Utilities				11,859,376
Total Common Stocks (89.0%) (Cost $432,358,863)				616,617,643

See Notes to Portfolio of Investments.

77

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MULTIMANAGER LARGE CAP CORE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
LONG-TERM DEBT SECURITIES:
Convertible Bond (0.1%)
Telecommunication Services (0.1%)
Diversified Telecommunication Services (0.1%)
Level 3 Communications, Inc. 6.500%, 10/1/16	$	554,000	$	733,704
Total Telecommunication Services				733,704
Total Convertible Bonds				733,704
Total Long-Term Debt Securities (0.1%) (Cost $554,000)				733,704
SHORT-TERM INVESTMENT:
Government Securities (1.5%)
U.S. Treasury Bills 0.09%, 5/2/13#(p)		10,120,000		10,119,174
Total Short-Term Investments (1.5%) (Cost $10,118,780)				10,119,174
Total Investments (90.6%) (Cost $443,031,643)				627,470,521
Other Assets Less Liabilities (9.4%)				65,265,069
Net Assets (100%)			$	692,735,590

* Non-income producing.

# All, or a portion of security held by broker as collateral for financial

futures contracts, with a total collateral value of $13,723,574.

(p) Yield to maturity.

Glossary:

ADR — American Depositary Receipt

See Notes to Portfolio of Investments.

78

AXA PREMIER VIP TRUST

MULTIMANAGER LARGE CAP CORE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Purchase
S&P 500 E-Mini Index		866		June-13	$	65,831,053	$	67,664,910	$	1,833,857

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable  inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	98,419,853	$	—	$	—	$	98,419,853
Consumer Staples		53,680,380		1,461,959		—		55,142,339
Energy		54,267,032		3,938,447		—		58,205,479
Financials		85,963,540		—		—		85,963,540
Health Care		86,879,024		1,885,705		—		88,764,729
Industrials		63,798,338		—		—		63,798,338
Information Technology		114,496,614		—		—		114,496,614
Materials		19,846,239		1,889,192		—		21,735,431
Telecommunication Services		14,504,071		3,727,873		—		18,231,944
Utilities		11,859,376		—		—		11,859,376
Convertible Bonds
Telecommunication Services		—		733,704		—		733,704
Futures		1,833,857		—		—		1,833,857
Short-Term Investments		—		10,119,174		—		10,119,174
Total Assets	$	605,548,324	$	23,756,054	$	—	$	629,304,378
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	605,548,324	$	23,756,054	$	—	$	629,304,378

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

See Notes to Portfolio of Investments.

79

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MULTIMANAGER LARGE CAP CORE EQUITY PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	51,322,499
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	65,707,229
As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:
Aggregate gross unrealized appreciation	$	188,249,079
Aggregate gross unrealized depreciation		(5,827,314	)
Net unrealized appreciation	$	182,421,765
Federal income tax cost of investments	$	445,048,756

See Notes to Portfolio of Investments.

80

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PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Consumer Discretionary (10.6%)
Auto Components (1.4%)
Delphi Automotive plc		28,470	$	1,264,068
Johnson Controls, Inc.		298,300		10,461,381
Lear Corp.		33,700		1,849,119
TRW Automotive Holdings Corp.*		29,400		1,617,000
Visteon Corp.*		2,600		150,020
				15,341,588
Automobiles (0.6%)
Ford Motor Co.		392,100		5,156,115
General Motors Co.*		54,750		1,523,145
Thor Industries, Inc.		2,100		77,259
				6,756,519
Diversified Consumer Services (0.0%)
DeVry, Inc.		3,500		111,125
H&R Block, Inc.		5,800		170,636
Service Corp. International		11,600		194,068
				475,829
Hotels, Restaurants & Leisure (0.8%)
Carnival Corp.		22,200		761,460
Choice Hotels International, Inc.		1,300		55,003
Hyatt Hotels Corp., Class A*		2,400		103,752
International Game Technology		7,000		115,500
Marriott International, Inc., Class A		1,000		42,230
McDonald’s Corp.		75,890		7,565,474
MGM Resorts International*		21,200		278,780
Norwegian Cruise Line Holdings Ltd.*		890		26,389
Penn National Gaming, Inc.*		3,200		174,176
Royal Caribbean Cruises Ltd.		8,100		269,082
Wendy’s Co.		14,900		84,483
				9,476,329
Household Durables (0.5%)
D.R. Horton, Inc.		13,700		332,910
Garmin Ltd.		5,400		178,416
Harman International Industries, Inc.		3,800		169,594
Jarden Corp.*		4,950		212,107
Leggett & Platt, Inc.		7,500		253,350
Lennar Corp., Class A		8,600		356,728
Mohawk Industries, Inc.*		3,100		350,672
Newell Rubbermaid, Inc.		15,500		404,550
NVR, Inc.*		100		108,011
PulteGroup, Inc.*		122,957		2,488,650
Toll Brothers, Inc.*		7,600		260,224
Whirlpool Corp.		4,100		485,686
				5,600,898
Internet & Catalog Retail (0.1%)
Expedia, Inc.		1,800		108,018
HomeAway, Inc.*		182		5,915
Liberty Interactive Corp.*		25,600		547,328
Liberty Ventures*		1,280		96,742
				758,003
Leisure Equipment & Products (0.2%)
Hasbro, Inc.		41,590		1,827,465
Mattel, Inc.		4,100		179,539
				2,007,004
Media (4.9%)
Cablevision Systems Corp. - New York Group, Class A		9,500		142,120
CBS Corp., Class B		28,800		1,344,672
Clear Channel Outdoor Holdings, Inc., Class A*		900		6,741
Comcast Corp., Class A		208,660		8,648,075
DISH Network Corp., Class A		2,400		90,960
DreamWorks Animation SKG, Inc., Class A*		3,600		68,256
Gannett Co., Inc.		79,000		1,727,730
Interpublic Group of Cos., Inc.		22,200		289,266
John Wiley & Sons, Inc., Class A		1,400		54,544
Lamar Advertising Co., Class A*		500		24,305
Liberty Media Corp.*		5,420		605,035
Madison Square Garden Co., Class A*		3,075		177,120
News Corp., Class A		136,903		4,178,280
Omnicom Group, Inc.		40,125		2,363,362
Regal Entertainment Group, Class A		2,700		45,009
Starz - Liberty Capital*		5,420		120,053
Thomson Reuters Corp.		19,800		643,104
Time Warner Cable, Inc.		21,100		2,026,866
Time Warner, Inc.		224,224		12,919,787
Viacom, Inc., Class B		203,170		12,509,177
Walt Disney Co.		123,450		7,011,960
Washington Post Co., Class B		300		134,100
				55,130,522
Multiline Retail (0.9%)
Dillard’s, Inc., Class A		1,600		125,680
J.C. Penney Co., Inc.		8,500		128,435
Kohl’s Corp.		23,380		1,078,519
Macy’s, Inc.		77,500		3,242,600
Sears Holdings Corp.*		1,900		94,943
Target Corp.		77,810		5,326,095
				9,996,272
Specialty Retail (1.2%)
Aaron’s, Inc.		900		25,812
Abercrombie & Fitch Co., Class A		4,500		207,900
Advance Auto Parts, Inc.		14,380		1,188,507
American Eagle Outfitters, Inc.		2,300		43,010
AutoNation, Inc.*		900		39,375
Best Buy Co., Inc.		14,400		318,960
CarMax, Inc.*		10,000		417,000
Chico’s FAS, Inc.		2,600		43,680
DSW, Inc., Class A		100		6,380
Foot Locker, Inc.		6,400		219,136
GameStop Corp., Class A		72,200		2,019,434
Guess?, Inc.		3,400		84,422
Home Depot, Inc.		16,800		1,172,304
Lowe’s Cos., Inc.		93,170		3,533,006
Sally Beauty Holdings, Inc.*		500		14,690
Sears Hometown and Outlet Stores, Inc.*		430		17,351
Signet Jewelers Ltd.		4,500		301,500
Staples, Inc.		97,045		1,303,314
Tiffany & Co.		1,100		76,494
TJX Cos., Inc.		60,500		2,828,375
Williams-Sonoma, Inc.		2,100		108,192
				13,968,842
Textiles, Apparel & Luxury Goods (0.0%)
Deckers Outdoor Corp.*		800		44,552
PVH Corp.		300		32,043
				76,595
Total Consumer Discretionary				119,588,401
Consumer Staples (7.6%)
Beverages (1.1%)
Beam, Inc.		8,400		533,736
Brown-Forman Corp., Class B		1,050		74,970

See Notes to Portfolio of Investments.

81

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Coca-Cola Co.		113,650	$	4,596,006
Coca-Cola Enterprises, Inc.		30,220		1,115,722
Constellation Brands, Inc., Class A*		8,400		400,176
Diageo plc		116,056		3,659,082
Dr. Pepper Snapple Group, Inc.		20,300		953,085
Molson Coors Brewing Co., Class B		6,800		332,724
PepsiCo, Inc.		11,570		915,303
				12,580,804
Food & Staples Retailing (1.7%)
CVS Caremark Corp.		209,515		11,521,230
Kroger Co.		90,000		2,982,600
Safeway, Inc.		11,000		289,850
Sysco Corp.		14,800		520,516
Walgreen Co.		46,100		2,198,048
Wal-Mart Stores, Inc.		19,090		1,428,504
				18,940,748
Food Products (2.0%)
Archer-Daniels-Midland Co.		35,200		1,187,296
Bunge Ltd.		18,200		1,343,706
Campbell Soup Co.		2,000		90,720
ConAgra Foods, Inc.		22,200		794,982
Danone S.A.		27,292		1,898,945
Dean Foods Co.*		1,400		25,382
General Mills, Inc.		74,600		3,678,526
Green Mountain Coffee Roasters, Inc.*		1,100		62,436
H.J. Heinz Co.		6,500		469,755
Hillshire Brands Co.		950		33,393
Hormel Foods Corp.		3,100		128,092
Ingredion, Inc.		3,200		231,424
J.M. Smucker Co.		11,730		1,163,147
Kellogg Co.		12,440		801,509
Kraft Foods Group, Inc.		29,966		1,544,148
Mondelez International, Inc., Class A		89,900		2,751,839
Nestle S.A. (Registered)		34,783		2,515,383
Smithfield Foods, Inc.*		51,100		1,353,128
Tyson Foods, Inc., Class A		116,000		2,879,120
WhiteWave Foods Co., Class A*		690		11,778
				22,964,709
Household Products (1.3%)
Church & Dwight Co., Inc.		2,900		187,427
Clorox Co.		6,500		575,445
Colgate-Palmolive Co.		2,100		247,863
Energizer Holdings, Inc.		3,500		349,055
Kimberly-Clark Corp.		2,200		215,556
Procter & Gamble Co.		170,102		13,108,060
				14,683,406
Personal Products (0.0%)
Avon Products, Inc.		5,200		107,796
Tobacco (1.5%)
Altria Group, Inc.		119,365		4,104,963
Lorillard, Inc.		48,060		1,939,221
Philip Morris International, Inc.		106,685		9,890,766
Reynolds American, Inc.		11,700		520,533
				16,455,483
Total Consumer Staples				85,732,946
Energy (12.2%)
Energy Equipment & Services (1.4%)
Atwood Oceanics, Inc.*		2,100		110,334
Baker Hughes, Inc.		23,492		1,090,264
Cameron International Corp.*		3,100		202,120
Diamond Offshore Drilling, Inc.		26,000		1,808,560
Era Group, Inc.*		600		12,600
Halliburton Co.		220,950		8,928,589
Helix Energy Solutions Group, Inc.*		37,200		851,136
Helmerich & Payne, Inc.		3,900		236,730
McDermott International, Inc.*		12,600		138,474
Nabors Industries Ltd.		15,500		251,410
National Oilwell Varco, Inc.		17,600		1,245,200
Oil States International, Inc.*		400		32,628
Patterson-UTI Energy, Inc.		8,300		197,872
Rowan Cos., plc, Class A*		6,600		233,376
RPC, Inc.		400		6,068
SEACOR Holdings, Inc.		600		44,208
Superior Energy Services, Inc.*		8,400		218,148
Tidewater, Inc.		2,700		136,350
Unit Corp.*		2,600		118,430
				15,862,497
Oil, Gas & Consumable Fuels (10.8%)
Alpha Natural Resources, Inc.*		11,747		96,443
Anadarko Petroleum Corp.		26,700		2,334,915
Apache Corp.		34,766		2,682,545
BP plc (ADR)		23,100		978,285
Cheniere Energy, Inc.*		3,400		95,200
Chesapeake Energy Corp.		35,400		722,514
Chevron Corp.		175,804		20,889,031
Cimarex Energy Co.		4,600		347,024
Cobalt International Energy, Inc.*		500		14,100
ConocoPhillips Co.		67,685		4,067,869
CONSOL Energy, Inc.		12,100		407,165
Denbury Resources, Inc.*		20,855		388,946
Devon Energy Corp.		21,700		1,224,314
Encana Corp.		156,100		3,037,706
Energen Corp.		3,900		202,839
EOG Resources, Inc.		10,325		1,322,323
EQT Corp.		7,000		474,250
EXCO Resources, Inc.		6,600		47,058
Exxon Mobil Corp.		518,959		46,763,395
Hess Corp.		16,300		1,167,243
HollyFrontier Corp.		15,700		807,765
Laredo Petroleum Holdings, Inc.*		100		1,829
Marathon Oil Corp.		201,750		6,803,010
Marathon Petroleum Corp.		47,250		4,233,600
Murphy Oil Corp.		10,400		662,792
Newfield Exploration Co.*		7,200		161,424
Noble Energy, Inc.		7,400		855,884
Occidental Petroleum Corp.		78,860		6,180,258
PBF Energy, Inc.		1,290		47,949
Peabody Energy Corp.		14,500		306,675
Phillips 66		33,442		2,339,937
Pioneer Natural Resources Co.		1,100		136,675
Plains Exploration & Production Co.*		6,900		327,543
QEP Resources, Inc.		9,500		302,480
Royal Dutch Shell plc (ADR), Class A		19,400		1,264,104
SandRidge Energy, Inc.*		26,100		137,547
SM Energy Co.		600		35,532
Southwestern Energy Co.*		113,200		4,217,832
Spectra Energy Corp.		34,900		1,073,175
Teekay Corp.		1,900		68,324
Tesoro Corp.		7,500		439,125
Ultra Petroleum Corp.*		8,100		162,810
Valero Energy Corp.		73,300		3,334,417
Whiting Petroleum Corp.*		5,400		274,536
World Fuel Services Corp.		2,600		103,272

See Notes to Portfolio of Investments.

82

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
WPX Energy, Inc.*		10,566	$	169,267
				121,710,927
Total Energy				137,573,424
Financials (21.1%)
Capital Markets (2.7%)
Affiliated Managers Group, Inc.*		700		107,499
American Capital Ltd.*		17,800		259,791
Ameriprise Financial, Inc.		11,700		861,705
Ares Capital Corp.		11,800		213,580
Bank of New York Mellon Corp.		175,519		4,912,777
BlackRock, Inc.		12,909		3,316,064
Charles Schwab Corp.		57,500		1,017,175
E*TRADE Financial Corp.*		15,200		162,792
Federated Investors, Inc., Class B		800		18,936
Franklin Resources, Inc.		17,080		2,575,835
Goldman Sachs Group, Inc.		56,390		8,297,788
Invesco Ltd.		23,900		692,144
Janus Capital Group, Inc.		10,000		94,000
Legg Mason, Inc.		7,500		241,125
LPL Financial Holdings, Inc.		232		7,480
Morgan Stanley		82,435		1,811,921
Northern Trust Corp.		11,500		627,440
Raymond James Financial, Inc.		6,100		281,210
State Street Corp.		75,070		4,435,886
TD Ameritrade Holding Corp.		12,400		255,688
				30,190,836
Commercial Banks (4.2%)
Associated Banc-Corp.		9,300		141,267
Bank of Hawaii Corp.		2,400		121,944
BankUnited, Inc.		1,800		46,116
BB&T Corp.		216,350		6,791,226
BOK Financial Corp.		1,400		87,220
CapitalSource, Inc.		12,400		119,288
CIT Group, Inc.*		78,500		3,413,180
City National Corp./California		2,500		147,275
Comerica, Inc.		10,500		377,475
Commerce Bancshares, Inc./Missouri		4,226		172,548
Cullen/Frost Bankers, Inc.		2,900		181,337
East West Bancorp, Inc.		7,700		197,659
Fifth Third Bancorp		49,200		802,452
First Citizens BancShares, Inc./North Carolina, Class A		300		54,810
First Horizon National Corp.		13,439		143,529
First Niagara Financial Group, Inc.		18,800		166,568
First Republic Bank/California		5,400		208,548
Fulton Financial Corp.		10,700		125,190
Huntington Bancshares, Inc./Ohio		46,200		341,418
KeyCorp		77,000		766,920
M&T Bank Corp.		6,767		698,084
PNC Financial Services Group, Inc.		64,803		4,309,399
Popular, Inc.*		5,420		149,646
Regions Financial Corp.		113,700		931,203
Signature Bank/New York*		2,200		173,272
SunTrust Banks, Inc.		28,800		829,728
SVB Financial Group*		2,400		170,256
Synovus Financial Corp.		42,000		116,340
TCF Financial Corp.		8,600		128,656
U.S. Bancorp		143,900		4,882,527
Valley National Bancorp		10,519		107,715
Wells Fargo & Co.		546,595		20,218,549
Zions Bancorp		9,800		244,902
				47,366,247
Consumer Finance (1.5%)
American Express Co.		19,100		1,288,486
Capital One Financial Corp.		203,450		11,179,578
Discover Financial Services		83,700		3,753,108
SLM Corp.		26,100		534,528
				16,755,700
Diversified Financial Services (5.4%)
Bank of America Corp.		982,243		11,963,720
CBOE Holdings, Inc.		600		22,164
Citigroup, Inc.		401,210		17,749,530
CME Group, Inc./Illinois		18,000		1,105,020
Interactive Brokers Group, Inc., Class A		2,100		31,311
JPMorgan Chase & Co.		576,411		27,356,466
Leucadia National Corp.		14,075		386,077
McGraw-Hill Cos., Inc.		16,770		873,382
Moody’s Corp.		29,350		1,564,942
NASDAQ OMX Group, Inc.		6,200		200,260
NYSE Euronext		13,500		521,640
				61,774,512
Insurance (5.6%)
ACE Ltd.		44,150		3,928,026
Aflac, Inc.		25,000		1,300,500
Alleghany Corp.*		968		383,251
Allied World Assurance Co. Holdings AG		1,000		92,720
Allstate Corp.		26,200		1,285,634
American Financial Group, Inc./Ohio		4,600		217,948
American International Group, Inc.*		34,500		1,339,290
American National Insurance Co.		400		34,748
Aon plc		46,555		2,863,132
Arch Capital Group Ltd.*		6,400		336,448
Aspen Insurance Holdings Ltd.		3,800		146,604
Assurant, Inc.		4,600		207,046
Assured Guaranty Ltd.		8,600		177,246
Axis Capital Holdings Ltd.		5,800		241,396
Berkshire Hathaway, Inc., Class B*		107,206		11,170,865
Brown & Brown, Inc.		5,700		182,628
Chubb Corp.		59,180		5,180,025
Cincinnati Financial Corp.		7,800		368,082
CNA Financial Corp.		1,400		45,766
Endurance Specialty Holdings Ltd.		2,100		100,401
Everest Reinsurance Group Ltd.		15,800		2,051,788
Fidelity National Financial, Inc., Class A		60,000		1,513,800
Genworth Financial, Inc., Class A*		82,900		829,000
Hanover Insurance Group, Inc.		1,300		64,584
Hartford Financial Services Group, Inc.		23,500		606,300
HCC Insurance Holdings, Inc.		5,400		226,962
Kemper Corp.		2,600		84,786
Lincoln National Corp.		15,200		495,672
Loews Corp.		16,700		735,969
Markel Corp.*		600		302,100
Marsh & McLennan Cos., Inc.		6,100		231,617
MBIA, Inc.*		7,500		77,025
Mercury General Corp.		1,400		53,102
MetLife, Inc.		258,230		9,817,905
Old Republic International Corp.		13,800		175,398
PartnerReinsurance Ltd.		24,900		2,318,439
Principal Financial Group, Inc.		16,000		544,480
ProAssurance Corp.		3,400		160,922
Progressive Corp.		32,700		826,329

See Notes to Portfolio of Investments.

83

AXA PREMIER VIP TRUST

MULTIMANAGER LARGE CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Protective Life Corp.		4,300	$	153,940
Prudential Financial, Inc.		64,555		3,808,099
Reinsurance Group of America, Inc.		22,300		1,330,641
RenaissanceReinsurance Holdings Ltd.		2,800		257,572
StanCorp Financial Group, Inc.		2,400		102,624
Torchmark Corp.		5,300		316,940
Travelers Cos., Inc.		56,529		4,759,177
Unum Group		15,200		429,400
Validus Holdings Ltd.		20,500		766,085
W. R. Berkley Corp.		5,900		261,783
White Mountains Insurance Group Ltd.		400		226,848
XL Group plc		16,600		502,980
				63,634,023
Real Estate Investment Trusts (REITs) (1.5%)
Alexandria Real Estate Equities, Inc. (REIT)		3,300		234,234
American Campus Communities, Inc. (REIT)		3,600		163,224
American Capital Agency Corp. (REIT)		16,010		524,808
Annaly Capital Management, Inc. (REIT)		52,138		828,473
Apartment Investment & Management Co. (REIT), Class A		2,000		61,320
AvalonBay Communities, Inc. (REIT)		5,960		754,953
BioMed Realty Trust, Inc. (REIT)		8,200		177,120
Boston Properties, Inc. (REIT)		6,700		677,102
Brandywine Realty Trust (REIT)		7,600		112,860
BRE Properties, Inc. (REIT)		2,900		141,172
Camden Property Trust (REIT)		1,100		75,548
CBL & Associates Properties, Inc. (REIT)		7,900		186,440
Chimera Investment Corp. (REIT)		54,900		175,131
CommonWealth REIT (REIT)		4,425		99,297
Corporate Office Properties Trust/Maryland (REIT)		3,800		101,384
Corrections Corp. of America (REIT)		5,300		207,071
DDR Corp. (REIT)		11,700		203,814
Douglas Emmett, Inc. (REIT)		7,400		184,482
Duke Realty Corp. (REIT)		14,200		241,116
Equity Lifestyle Properties, Inc. (REIT)		400		30,720
Equity Residential (REIT)		14,800		814,888
Extra Space Storage, Inc. (REIT)		2,000		78,540
Federal Realty Investment Trust (REIT)		800		86,432
General Growth Properties, Inc. (REIT)		28,259		561,789
Hatteras Financial Corp. (REIT)		5,200		142,636
HCP, Inc. (REIT)		20,861		1,040,130
Health Care REIT, Inc. (REIT)		11,400		774,174
Home Properties, Inc. (REIT)		1,200		76,104
Hospitality Properties Trust (REIT)		6,600		181,104
Host Hotels & Resorts, Inc. (REIT)		38,409		671,773
Kilroy Realty Corp. (REIT)		3,400		178,160
Kimco Realty Corp. (REIT)		21,700		486,080
Liberty Property Trust (REIT)		5,500		218,625
Macerich Co. (REIT)		7,135		459,351
Mack-Cali Realty Corp. (REIT)		4,700		134,467
MFA Financial, Inc. (REIT)		19,100		178,012
Mid-America Apartment Communities, Inc. (REIT)		100		6,906
National Retail Properties, Inc. (REIT)		5,700		206,169
Piedmont Office Realty Trust, Inc. (REIT), Class A		9,200		180,228
Post Properties, Inc. (REIT)		1,700		80,070
Prologis, Inc. (REIT)		24,615		984,108
Rayonier, Inc. (REIT)		1,400		83,538
Realty Income Corp. (REIT)		7,100		321,985
Regency Centers Corp. (REIT)		1,900		100,529
Retail Properties of America, Inc. (REIT), Class A		4,500		66,600
Senior Housing Properties Trust (REIT)		8,700		233,421
Simon Property Group, Inc. (REIT)		2,624		416,061
SL Green Realty Corp. (REIT)		4,800		413,328
Taubman Centers, Inc. (REIT)		2,200		170,852
UDR, Inc. (REIT)		13,200		319,308
Ventas, Inc. (REIT)		15,506		1,135,039
Vornado Realty Trust (REIT)		9,958		832,887
Weingarten Realty Investors (REIT)		6,400		201,920
Weyerhaeuser Co. (REIT)		19,492		611,659
				17,627,142
Real Estate Management & Development (0.1%)
Alexander & Baldwin, Inc.*		2,100		75,075
Forest City Enterprises, Inc., Class A*		7,500		133,275
Howard Hughes Corp.*		1,485		124,458
Jones Lang LaSalle, Inc.		2,400		238,584
Realogy Holdings Corp.*		2,600		126,984
St. Joe Co.*		3,000		63,750
				762,126
Thrifts & Mortgage Finance (0.1%)
Capitol Federal Financial, Inc.		8,716		105,202
Hudson City Bancorp, Inc.		28,200		243,648
New York Community Bancorp, Inc.		23,500		337,225
People’s United Financial, Inc.		14,900		200,256
TFS Financial Corp.*		4,200		45,486
Washington Federal, Inc.		5,700		99,750
				1,031,567
Total Financials				239,142,153
Health Care (13.2%)
Biotechnology (0.1%)
Vertex Pharmaceuticals, Inc.*		20,100		1,105,098
Health Care Equipment & Supplies (2.7%)
Abbott Laboratories		49,690		1,755,051
Alere, Inc.*		4,300		109,779
Baxter International, Inc.		105,600		7,670,784
Becton, Dickinson and Co.		12,600		1,204,686
Boston Scientific Corp.*		76,400		596,684
CareFusion Corp.*		11,800		412,882
Cooper Cos., Inc.		1,800		194,184
Covidien plc		117,700		7,984,768
DENTSPLY International, Inc.		4,200		178,164
Hill-Rom Holdings, Inc.		3,300		116,226
Hologic, Inc.*		14,100		318,660
Medtronic, Inc.		145,340		6,825,166
Sirona Dental Systems, Inc.*		2,400		176,952
St. Jude Medical, Inc.		41,820		1,691,201
Stryker Corp.		4,400		287,056
Teleflex, Inc.		2,200		185,922
Zimmer Holdings, Inc.		8,500		639,370
				30,347,535

See Notes to Portfolio of Investments.

84

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MULTIMANAGER LARGE CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Health Care Providers & Services (1.9%)
Aetna, Inc.		31,300	$	1,600,056
Brookdale Senior Living, Inc.*		5,200		144,976
Cardinal Health, Inc.		8,500		353,770
Cigna Corp.		15,400		960,498
Community Health Systems, Inc.		4,800		227,472
Coventry Health Care, Inc.		7,600		357,428
Express Scripts Holding Co.*		8,700		501,555
HCA Holdings, Inc.		3,100		125,953
Health Management Associates, Inc., Class A*		13,700		176,319
Health Net, Inc.*		34,900		998,838
Henry Schein, Inc.*		2,100		194,355
Humana, Inc.		8,800		608,168
LifePoint Hospitals, Inc.*		2,600		125,996
McKesson Corp.		43,200		4,663,872
MEDNAX, Inc.*		2,600		233,038
Omnicare, Inc.		6,000		244,320
Patterson Cos., Inc.		300		11,412
Quest Diagnostics, Inc.		23,270		1,313,592
Tenet Healthcare Corp.*		5,200		247,416
UnitedHealth Group, Inc.		55,507		3,175,555
Universal Health Services, Inc., Class B		4,500		287,415
VCA Antech, Inc.*		4,600		108,054
WellPoint, Inc.		67,700		4,483,771
				21,143,829
Health Care Technology (0.0%)
Allscripts Healthcare Solutions, Inc.*		10,200		138,618
Life Sciences Tools & Services (0.4%)
Bio-Rad Laboratories, Inc., Class A*		1,100		138,600
Charles River Laboratories International, Inc.*		900		39,843
Covance, Inc.*		2,800		208,096
Life Technologies Corp.*		8,700		562,281
PerkinElmer, Inc.		6,000		201,840
QIAGEN N.V.*		12,600		265,608
Thermo Fisher Scientific, Inc.		46,560		3,561,374
				4,977,642
Pharmaceuticals (8.1%)
AbbVie, Inc.		38,880		1,585,526
AstraZeneca plc (ADR)		29,400		1,469,412
Bristol-Myers Squibb Co.		8,337		343,401
Eli Lilly and Co.		34,900		1,981,971
Endo Health Solutions, Inc.*		2,300		70,748
Forest Laboratories, Inc.*		14,200		540,168
Hospira, Inc.*		8,800		288,904
Johnson & Johnson		374,345		30,520,348
Merck & Co., Inc.		277,816		12,287,802
Mylan, Inc.*		1,800		52,092
Pfizer, Inc.		1,402,306		40,470,551
Roche Holding AG		5,044		1,174,259
Roche Holding AG (ADR)		21,900		1,283,340
Zoetis, Inc.*		4,130		137,942
				92,206,464
Total Health Care				149,919,186
Industrials (9.3%)
Aerospace & Defense (2.6%)
Alliant Techsystems, Inc.		1,800		130,374
Boeing Co.		3,900		334,815
Engility Holdings, Inc.*		866		20,766
Exelis, Inc.		9,900		107,811
General Dynamics Corp.		17,000		1,198,670
Honeywell International, Inc.		151,105		11,385,762
Huntington Ingalls Industries, Inc.		2,666		142,178
L-3 Communications Holdings, Inc.		5,200		420,784
Lockheed Martin Corp.		66,810		6,448,501
Northrop Grumman Corp.		48,400		3,395,260
Raytheon Co.		17,800		1,046,462
Spirit AeroSystems Holdings, Inc., Class A*		4,900		93,051
Textron, Inc.		14,000		417,340
Triumph Group, Inc.		1,800		141,300
United Technologies Corp.		43,400		4,054,862
				29,337,936
Air Freight & Logistics (0.5%)
Expeditors International of Washington, Inc.		1,100		39,281
FedEx Corp.		15,800		1,551,560
United Parcel Service, Inc., Class B		38,820		3,334,638
UTi Worldwide, Inc.		5,500		79,640
				5,005,119
Airlines (0.2%)
Copa Holdings S.A., Class A		400		47,844
Delta Air Lines, Inc.*		121,500		2,005,965
Southwest Airlines Co.		33,100		446,188
				2,499,997
Building Products (0.1%)
Fortune Brands Home & Security, Inc.*		7,100		265,753
Owens Corning, Inc.*		6,500		256,295
				522,048
Commercial Services & Supplies (0.5%)
ADT Corp.		12,400		606,856
Avery Dennison Corp.		5,500		236,885
Cintas Corp.		3,200		141,216
Covanta Holding Corp.		5,400		108,810
Iron Mountain, Inc.		544		19,753
KAR Auction Services, Inc.		1,500		30,045
Pitney Bowes, Inc.		3,400		50,524
R.R. Donnelley & Sons Co.		9,600		115,680
Republic Services, Inc.		16,200		534,600
Tyco International Ltd.		90,660		2,901,120
Waste Connections, Inc.		6,150		221,277
Waste Management, Inc.		24,700		968,487
				5,935,253
Construction & Engineering (0.2%)
AECOM Technology Corp.*		6,000		196,800
Chicago Bridge & Iron Co. N.V. (N.Y. Shares)		2,450		152,146
Fluor Corp.		7,020		465,636
Jacobs Engineering Group, Inc.*		6,900		388,056
KBR, Inc.		7,900		253,432
Quanta Services, Inc.*		11,100		317,238
URS Corp.		4,000		189,640
				1,962,948
Electrical Equipment (0.3%)
Eaton Corp. plc		49,511		3,032,549
Emerson Electric Co.		6,200		346,394
General Cable Corp.*		2,500		91,575
GrafTech International Ltd.*		6,700		51,456
Hubbell, Inc., Class B		600		58,266
Regal-Beloit Corp.		2,100		171,276
				3,751,516

See Notes to Portfolio of Investments.

85

AXA PREMIER VIP TRUST

MULTIMANAGER LARGE CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Industrial Conglomerates (3.3%)
3M Co.		36,720	$	3,903,703
Carlisle Cos., Inc.		3,000		203,370
Danaher Corp.		61,820		3,842,113
General Electric Co.		1,291,250		29,853,700
				37,802,886
Machinery (1.1%)
AGCO Corp.		5,200		271,024
CNH Global N.V.		1,500		61,980
Colfax Corp.*		1,800		83,772
Crane Co.		2,600		145,236
Dover Corp.		9,800		714,224
Flowserve Corp.		3,400		570,214
Gardner Denver, Inc.		2,700		202,797
Harsco Corp.		4,300		106,511
IDEX Corp.		3,600		192,312
Illinois Tool Works, Inc.		24,990		1,522,891
Ingersoll-Rand plc		2,900		159,529
ITT Corp.		3,750		106,612
Kennametal, Inc.		4,300		167,872
Manitowoc Co., Inc.		1,600		32,896
Navistar International Corp.*		3,200		110,624
Nordson Corp.		300		19,785
Oshkosh Corp.*		4,900		208,201
PACCAR, Inc.		14,800		748,288
Parker Hannifin Corp.		14,600		1,337,068
Pentair Ltd. (Registered)		26,072		1,375,298
Snap-on, Inc.		2,500		206,750
SPX Corp.		1,900		150,024
Stanley Black & Decker, Inc.		34,331		2,779,781
Terex Corp.*		5,900		203,078
Timken Co.		16,100		910,938
Trinity Industries, Inc.		4,200		190,386
WABCO Holdings, Inc.*		300		21,177
Xylem, Inc.		8,800		242,528
				12,841,796
Marine (0.0%)
Kirby Corp.*		800		61,440
Matson, Inc.		2,100		51,660
				113,100
Professional Services (0.2%)
Dun & Bradstreet Corp.		11,620		972,013
Equifax, Inc.		600		34,554
Manpower, Inc.		4,300		243,896
Nielsen Holdings N.V		4,829		172,975
Towers Watson & Co., Class A		3,300		228,756
Verisk Analytics, Inc., Class A*		1,100		67,793
				1,719,987
Road & Rail (0.3%)
Canadian National Railway Co.		9,500		952,850
Con-way, Inc.		1,300		45,773
CSX Corp.		17,900		440,877
Hertz Global Holdings, Inc.*		5,700		126,882
Kansas City Southern		1,300		144,170
Norfolk Southern Corp.		17,400		1,341,192
Ryder System, Inc.		2,700		161,325
				3,213,069
Trading Companies & Distributors (0.0%)
Air Lease Corp.		3,600		105,552
GATX Corp.		2,500		129,925
MRC Global, Inc.*		400		13,172
WESCO International, Inc.*		2,300		167,003
				415,652
Total Industrials				105,121,307
Information Technology (7.2%)
Communications Equipment (1.6%)
Brocade Communications Systems, Inc.*		24,500		141,365
Cisco Systems, Inc.		772,350		16,149,839
EchoStar Corp., Class A*		1,500		58,455
Harris Corp.		24,300		1,126,062
JDS Uniphase Corp.*		12,300		164,451
Juniper Networks, Inc.*		28,300		524,682
Palo Alto Networks, Inc.*		84		4,754
Polycom, Inc.*		9,500		105,260
				18,274,868
Computers & Peripherals (0.9%)
Dell, Inc.		78,900		1,130,637
Diebold, Inc.		3,100		93,992
Hewlett-Packard Co.		292,060		6,962,710
Lexmark International, Inc., Class A		3,800		100,320
NetApp, Inc.*		6,400		218,624
SanDisk Corp.*		13,000		715,000
Stratasys Ltd.*		1,040		77,189
Western Digital Corp.		7,400		372,072
				9,670,544
Electronic Equipment, Instruments & Components (0.2%)
Arrow Electronics, Inc.*		5,900		239,658
Avnet, Inc.*		7,700		278,740
AVX Corp.		2,500		29,750
Corning, Inc.		81,200		1,082,396
Dolby Laboratories, Inc., Class A		1,100		36,916
FLIR Systems, Inc.		1,500		39,015
Ingram Micro, Inc., Class A*		8,100		159,408
Itron, Inc.*		2,100		97,440
Jabil Circuit, Inc.		8,000		147,840
Molex, Inc.		7,300		213,744
Tech Data Corp.*		2,100		95,781
Vishay Intertechnology, Inc.*		7,700		104,797
				2,525,485
Internet Software & Services (0.2%)
Akamai Technologies, Inc.*		700		24,703
AOL, Inc.*		3,775		145,300
IAC/InterActiveCorp.		3,300		147,444
VeriSign, Inc.*		700		33,096
Yahoo!, Inc.*		59,250		1,394,152
				1,744,695
IT Services (1.2%)
Accenture plc, Class A		57,860		4,395,624
Amdocs Ltd.		9,000		326,250
Booz Allen Hamilton Holding Corp.		1,212		16,289
Computer Sciences Corp.		8,300		408,609
CoreLogic, Inc.*		5,700		147,402
DST Systems, Inc.		1,500		106,905
Fidelity National Information Services, Inc.		21,147		837,844
Fiserv, Inc.*		13,030		1,144,425
Genpact Ltd.		1,300		23,647
International Business Machines Corp.		19,330		4,123,089
Mastercard, Inc., Class A		1,504		813,860
Paychex, Inc.		1,200		42,084
SAIC, Inc.		9,800		132,790

See Notes to Portfolio of Investments.

86

AXA PREMIER VIP TRUST

MULTIMANAGER LARGE CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Total System Services, Inc.		1,200	$	29,736
Western Union Co.		91,695		1,379,093
				13,927,647
Office Electronics (0.1%)
Xerox Corp.		72,094		620,008
Zebra Technologies Corp., Class A*		2,300		108,399
				728,407
Semiconductors & Semiconductor Equipment (1.9%)
Analog Devices, Inc.		14,600		678,754
Applied Materials, Inc.		228,100		3,074,788
Atmel Corp.*		21,700		151,032
Avago Technologies Ltd.		700		25,144
Broadcom Corp., Class A		11,200		388,304
Cree, Inc.*		6,200		339,202
Cypress Semiconductor Corp.*		3,300		36,399
Fairchild Semiconductor International, Inc.*		6,800		96,152
Freescale Semiconductor Ltd.*		100		1,489
Intel Corp.		130,350		2,848,147
KLA-Tencor Corp.		9,000		474,660
Lam Research Corp.*		7,312		303,156
Marvell Technology Group Ltd.		25,100		265,558
Maxim Integrated Products, Inc.		7,800		254,670
Micron Technology, Inc.*		224,500		2,240,510
NVIDIA Corp.		33,100		424,342
ON Semiconductor Corp.*		24,300		201,204
PMC-Sierra, Inc.*		12,400		84,196
Silicon Laboratories, Inc.*		200		8,272
Skyworks Solutions, Inc.*		1,100		24,233
Teradyne, Inc.*		8,700		141,114
Texas Instruments, Inc.		280,925		9,967,219
				22,028,545
Software (1.1%)
Activision Blizzard, Inc.		22,600		329,282
Adobe Systems, Inc.*		123,300		5,364,783
CA, Inc.		26,700		672,039
Compuware Corp.*		11,000		137,500
Electronic Arts, Inc.*		51,400		909,780
Oracle Corp.		81,035		2,620,672
Rovi Corp.*		4,700		100,627
ServiceNow, Inc.*		177		6,407
Symantec Corp.*		104,900		2,588,932
Synopsys, Inc.*		7,200		258,336
Workday, Inc., Class A*		420		25,885
				13,014,243
Total Information Technology				81,914,434
Materials (3.3%)
Chemicals (2.1%)
Air Products and Chemicals, Inc.		32,890		2,865,377
Albemarle Corp.		2,100		131,292
Ashland, Inc.		4,200		312,060
Cabot Corp.		3,400		116,280
CF Industries Holdings, Inc.		3,981		757,863
Cytec Industries, Inc.		2,500		185,200
Dow Chemical Co.		64,000		2,037,760
Eastman Chemical Co.		1,500		104,805
Huntsman Corp.		87,800		1,632,202
Intrepid Potash, Inc.		1,500		28,140
Kronos Worldwide, Inc.		1,000		15,650
LyondellBasell Industries N.V., Class A		58,000		3,670,820
Monsanto Co.		51,400		5,429,382
Mosaic Co.		60,500		3,606,405
PPG Industries, Inc.		20,650		2,765,861
Rockwood Holdings, Inc.		2,600		170,144
RPM International, Inc.		4,300		135,794
Scotts Miracle-Gro Co., Class A		300		12,972
W.R. Grace & Co.*		300		23,253
Westlake Chemical Corp.		800		74,800
				24,076,060
Construction Materials (0.0%)
Martin Marietta Materials, Inc.		1,200		122,424
Vulcan Materials Co.		6,900		356,730
				479,154
Containers & Packaging (0.2%)
AptarGroup, Inc.		2,400		137,640
Bemis Co., Inc.		5,500		221,980
Crown Holdings, Inc.*		6,000		249,660
Greif, Inc., Class A		1,700		91,154
MeadWestvaco Corp.		9,200		333,960
Owens-Illinois, Inc.*		2,200		58,630
Packaging Corp. of America		400		17,948
Rock-Tenn Co., Class A		3,400		315,486
Sealed Air Corp.		10,300		248,333
Sonoco Products Co.		5,400		188,946
				1,863,737
Metals & Mining (0.9%)
Alcoa, Inc.		57,000		485,640
Allegheny Technologies, Inc.		5,700		180,747
Barrick Gold Corp.		141,650		4,164,510
Carpenter Technology Corp.		2,200		108,438
Cliffs Natural Resources, Inc.		7,600		144,476
Commercial Metals Co.		6,200		98,270
Freeport-McMoRan Copper & Gold, Inc.		50,800		1,681,480
Molycorp, Inc.*		2,600		13,520
Newmont Mining Corp.		26,300		1,101,707
Nucor Corp.		17,000		784,550
Reliance Steel & Aluminum Co.		4,000		284,680
Southern Copper Corp.		2,200		82,654
Steel Dynamics, Inc.		9,100		144,417
Tahoe Resources, Inc.*		3,300		58,047
United States Steel Corp.		7,700		150,150
Walter Energy, Inc.		3,300		94,050
				9,577,336
Paper & Forest Products (0.1%)
Domtar Corp.		2,000		155,240
International Paper Co.		23,400		1,089,972
				1,245,212
Total Materials				37,241,499
Telecommunication Services (3.1%)
Diversified Telecommunication Services (1.9%)
AT&T, Inc.		475,625		17,450,681
CenturyLink, Inc.		47,864		1,681,462
Frontier Communications Corp.		53,339		212,289
Level 3 Communications, Inc.*		4,140		84,001
Verizon Communications, Inc.		34,760		1,708,454
Windstream Corp.		12,700		100,965
				21,237,852
Wireless Telecommunication Services (1.2%)
Clearwire Corp., Class A*		18,700		60,588
MetroPCS Communications, Inc.*		16,200		176,580
NII Holdings, Inc.*		9,100		39,403
Sprint Nextel Corp.*		160,500		996,705

See Notes to Portfolio of Investments.

87

AXA PREMIER VIP TRUST

MULTIMANAGER LARGE CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Telephone & Data Systems, Inc.		5,026	$	105,898
U.S. Cellular Corp.*		700		25,200
Vodafone Group plc		1,082,541		3,069,322
Vodafone Group plc (ADR)		312,700		8,883,807
				13,357,503
Total Telecommunication Services				34,595,355
Utilities (3.2%)
Electric Utilities (1.9%)
American Electric Power Co., Inc.		45,900		2,232,117
Duke Energy Corp.		37,712		2,737,514
Edison International		49,700		2,500,904
Entergy Corp.		9,500		600,780
Exelon Corp.		45,586		1,571,805
FirstEnergy Corp.		22,370		944,014
Great Plains Energy, Inc.		7,200		166,968
Hawaiian Electric Industries, Inc.		5,100		141,321
NextEra Energy, Inc.		22,300		1,732,264
Northeast Utilities		16,778		729,172
NV Energy, Inc.		106,000		2,123,180
OGE Energy Corp.		5,300		370,894
Pepco Holdings, Inc.		12,200		261,080
Pinnacle West Capital Corp.		5,900		341,551
PPL Corp.		42,676		1,336,186
Southern Co.		46,500		2,181,780
Westar Energy, Inc.		6,700		222,306
Xcel Energy, Inc.		26,000		772,200
				20,966,036
Gas Utilities (0.2%)
AGL Resources, Inc.		6,300		264,285
Atmos Energy Corp.		37,600		1,605,144
National Fuel Gas Co.		3,900		239,265
Questar Corp.		7,300		177,609
UGI Corp.		6,000		230,340
				2,516,643
Independent Power Producers & Energy Traders (0.1%)
AES Corp.		34,300		431,151
Calpine Corp.*		21,600		444,960
NRG Energy, Inc.		12,100		320,529
				1,196,640
Multi-Utilities (1.0%)
Alliant Energy Corp.		5,900		296,062
Ameren Corp.		13,000		455,260
CenterPoint Energy, Inc.		33,100		793,076
CMS Energy Corp.		14,000		391,160
Consolidated Edison, Inc.		15,700		958,171
Dominion Resources, Inc.		30,600		1,780,308
DTE Energy Co.		13,400		915,756
Integrys Energy Group, Inc.		4,200		244,272
MDU Resources Group, Inc.		10,100		252,399
NiSource, Inc.		15,200		445,968
PG&E Corp.		22,600		1,006,378
Public Service Enterprise Group, Inc.		38,645		1,327,069
SCANA Corp.		6,300		322,308
Sempra Energy		12,900		1,031,226
TECO Energy, Inc.		11,500		204,930
Vectren Corp.		4,400		155,848
Wisconsin Energy Corp.		12,300		527,547
				11,107,738
Water Utilities (0.0%)
American Water Works Co., Inc.		9,400		389,536
Aqua America, Inc.		6,600		207,504
				597,040
Total Utilities				36,384,097
Total Common Stocks (90.8%) (Cost $748,740,486)				1,027,212,802
CONVERTIBLE PREFERRED STOCKS:
Industrials (0.0%)
Aerospace & Defense (0.0%)
United Technologies Corp. 7.500%		5,230		313,015
Total Industrials				313,015
Utilities (0.1%)
Electric Utilities (0.1%)
PPL Corp. 9.500%		7,500		411,000
Total Utilities				411,000
Total Convertible Preferred Stock (0.1%) (Cost $637,641)				724,015
	Number of Rights		Value (Note 1)
RIGHTS:
Health Care (0.0%)
Biotechnology (0.0%)
Celgene Corp., expiring 12/31/30* (Cost $1,590)		300		2,121
	Principal Amount		Value (Note 1)
SHORT-TERM INVESTMENTS:
Commercial Paper (0.1%)
HSBC USA, Inc. 0.06%, 4/1/13(p)	$	1,322,000		1,321,998
Government Securities (1.9%)
U.S. Treasury Bills 0.09%, 5/2/13#(p)		22,010,000		22,008,203
Total Short-Term Investments (2.0%) (Cost $23,329,346)				23,330,201
Total Investments (92.9%) (Cost $772,709,063)				1,051,269,139
Other Assets Less Liabilities (7.1%)				79,945,658
Net Assets (100%)			$	1,131,214,797

* Non-income producing.

# All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $22,008,203.

(p) Yield to maturity.

Glossary:

ADR — American Depositary Receipt

See Notes to Portfolio of Investments.

88

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MULTIMANAGER LARGE CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Purchases
S&P 500 E-Mini Index		1,017		June-13	$	77,309,678	$	79,463,295	$	2,153,617
S&P MidCap 400 E-Mini Index		128		June-13		14,068,679		14,732,800		664,121
									$	2,817,738

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) (a)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	119,588,401	$	—	$	—	$	119,588,401
Consumer Staples		77,659,536		8,073,410		—		85,732,946
Energy		137,573,424		—		—		137,573,424
Financials		239,142,153		—		—		239,142,153
Health Care		148,744,927		1,174,259		—		149,919,186
Industrials		105,121,307		—		—		105,121,307
Information Technology		81,914,434		—		—		81,914,434
Materials		37,150,345		91,154		—		37,241,499
Telecommunication Services		31,526,033		3,069,322		—		34,595,355
Utilities		36,384,097		—		—		36,384,097
Convertible Preferred Stocks
Industrials		313,015		—		—		313,015
Utilities		411,000		—		—		411,000
Futures		2,817,738		—		—		2,817,738
Rights
Health Care		2,121		—		—		2,121
Short-Term Investments		—		23,330,201		—		23,330,201
Total Assets	$	1,018,348,531	$	35,738,346	$	—	$	1,054,086,877
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	1,018,348,531	$	35,738,346	$	—	$	1,054,086,877

(a) A security with a market value of $91,154 transferred from Level 1 to Level 2 since the beginning of the period due to inactive trading.

See Notes to Portfolio of Investments.

89

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	63,328,212
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	118,315,136

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	275,693,497
Aggregate gross unrealized depreciation		(13,074,245	)
Net unrealized appreciation	$	262,619,252
Federal income tax cost of investments	$	788,649,887

See Notes to Portfolio of Investments.

90

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PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Consumer Discretionary (15.2%)
Auto Components (0.9%)
Allison Transmission Holdings, Inc.		41,363	$	993,126
Cooper Tire & Rubber Co.		5,716		146,672
Dana Holding Corp.		1,592		28,385
Dorman Products, Inc.		2,584		96,151
Drew Industries, Inc.		970		35,221
Fuel Systems Solutions, Inc.*		333		5,484
Gentex Corp.		15,242		304,992
Gentherm, Inc.*		3,147		51,548
Goodyear Tire & Rubber Co.*		25,883		326,385
Tenneco, Inc.*		60,608		2,382,500
Tower International, Inc.*		580		8,120
Visteon Corp.*		328		18,926
				4,397,510
Automobiles (0.1%)
Tesla Motors, Inc.*		7,486		283,644
Thor Industries, Inc.		328		12,067
Winnebago Industries, Inc.*		895		18,473
				314,184
Distributors (0.5%)
Core-Mark Holding Co., Inc.		206		10,570
LKQ Corp.*		94,654		2,059,671
Pool Corp.		5,026		241,248
Weyco Group, Inc.		42		1,029
				2,312,518
Diversified Consumer Services (0.8%)
American Public Education, Inc.*		1,924		67,128
Apollo Group, Inc., Class A*		10,137		176,282
Bridgepoint Education, Inc.*		1,863		19,058
Bright Horizons Family Solutions, Inc.*		766		25,883
Capella Education Co.*		1,339		41,696
Coinstar, Inc.*		22,653		1,323,388
Collectors Universe		569		6,697
Grand Canyon Education, Inc.*		43,422		1,102,485
Hillenbrand, Inc.		5,813		146,953
ITT Educational Services, Inc.*		2,578		35,525
K12, Inc.*		30,579		737,260
LifeLock, Inc.*		1,779		17,132
Mac-Gray Corp.		177		2,266
Matthews International Corp., Class A		1,421		49,579
National American University Holdings, Inc.		364		1,420
Sotheby’s, Inc.		2,513		94,011
Steiner Leisure Ltd.*		1,627		78,682
Strayer Education, Inc.		1,267		61,297
Universal Technical Institute, Inc.		1,501		18,958
Weight Watchers International, Inc.		2,823		118,876
				4,124,576
Hotels, Restaurants & Leisure (2.8%)
AFC Enterprises, Inc.*		2,575		93,550
Ameristar Casinos, Inc.		3,017		79,136
Bally Technologies, Inc.*		4,333		225,186
Biglari Holdings, Inc.*		15		5,598
BJ’s Restaurants, Inc.*		2,586		86,062
Bloomin’ Brands, Inc.*		45,672		816,159
Bob Evans Farms, Inc.		424		18,071
Boyd Gaming Corp.*		464		3,837
Bravo Brio Restaurant Group, Inc.*		2,079		32,911
Brinker International, Inc.		7,498		282,300
Buffalo Wild Wings, Inc.*		28,612		2,504,408
Burger King Worldwide, Inc.		68,535		1,309,018
Caesars Entertainment Corp.*		3,467		54,987
Carrols Restaurant Group, Inc.*		1,093		5,673
CEC Entertainment, Inc.		1,952		63,928
Cheesecake Factory, Inc.		5,705		220,270
Choice Hotels International, Inc.		253		10,704
Churchill Downs, Inc.		445		31,168
Chuy’s Holdings, Inc.*		528		17,202
Cracker Barrel Old Country Store, Inc.		2,040		164,934
Del Frisco’s Restaurant Group, Inc.*.		458		7,603
Denny’s Corp.*		8,057		46,489
DineEquity, Inc.		1,619		111,371
Domino’s Pizza, Inc.		6,124		315,019
Dunkin’ Brands Group, Inc.		7,540		278,075
Einstein Noah Restaurant Group, Inc.		557		8,260
Fiesta Restaurant Group, Inc.*		1,557		41,369
Ignite Restaurant Group, Inc.*		704		10,335
Interval Leisure Group, Inc.		4,082		88,743
Jack in the Box, Inc.*		31,777		1,099,166
Jamba, Inc.*		8,735		24,895
Life Time Fitness, Inc.*		24,660		1,054,955
Morgans Hotel Group Co.*		1,019		6,032
MTR Gaming Group, Inc.*		2,434		8,032
Multimedia Games Holding Co., Inc.*		2,889		60,293
Nathan’s Famous, Inc.*		276		11,661
Norwegian Cruise Line Holdings Ltd.*		39,780		1,179,477
Orient-Express Hotels Ltd., Class A*		77,416		763,322
Panera Bread Co., Class A*		10,787		1,782,444
Papa John’s International, Inc.*		1,792		110,781
Penn National Gaming, Inc.*		549		29,882
Pinnacle Entertainment, Inc.*		393		5,746
Premier Exhibitions, Inc.*		2,718		7,230
Red Robin Gourmet Burgers, Inc.*		683		31,145
Ruth’s Hospitality Group, Inc.*		3,774		36,004
Scientific Games Corp., Class A*		642		5,617
SHFL Entertainment, Inc.*		5,798		96,073
Six Flags Entertainment Corp.		3,927		284,629
Sonic Corp.*		4,836		62,288
Texas Roadhouse, Inc.		6,604		133,335
Town Sports International Holdings, Inc.		2,482		23,480
Vail Resorts, Inc.		1,342		83,633
Wyndham Worldwide Corp.		7,300		470,704
				14,303,190
Household Durables (0.6%)
American Greetings Corp., Class A		252		4,057
Blyth, Inc.		1,113		19,322
Cavco Industries, Inc.*		662		31,491
D.R. Horton, Inc.		2,139		51,978
Ethan Allen Interiors, Inc.		2,208		72,687
iRobot Corp.*		2,890		74,157
Jarden Corp.*		2,892		123,922
La-Z-Boy, Inc.		1,595		30,098
Libbey, Inc.*		2,196		42,449
Meritage Homes Corp.*		790		37,019
NVR, Inc.*		479		517,373
Ryland Group, Inc.		2,669		111,084
Skullcandy, Inc.*		1,732		9,145
Tempur-Pedic International, Inc.*		6,308		313,066
TRI Pointe Homes, Inc.*		164		3,305
Tupperware Brands Corp.		5,923		484,146
Whirlpool Corp.		8,170		967,818

See Notes to Portfolio of Investments.

91

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Zagg, Inc.*		2,730	$	19,874
				2,912,991
Internet & Catalog Retail (1.6%)
1-800-FLOWERS.COM, Inc., Class A*		199		989
Blue Nile, Inc.*		21,711		747,944
CafePress, Inc.*		487		2,927
Geeknet, Inc.*		455		6,720
HomeAway, Inc.*		58,875		1,913,438
HSN, Inc.		3,768		206,712
Kayak Software Corp.*		257		10,270
Netflix, Inc.*		12,327		2,334,857
Nutrisystem, Inc.		3,025		25,652
Orbitz Worldwide, Inc.*		2,482		14,172
Overstock.com, Inc.*		1,220		15,030
PetMed Express, Inc.		2,173		29,151
Shutterfly, Inc.*		45,988		2,031,290
TripAdvisor, Inc.*		18,200		955,864
U.S. Auto Parts Network, Inc.*		1,660		1,992
Vitacost.com, Inc.*		2,359		17,056
				8,314,064
Leisure Equipment & Products (0.2%)
Arctic Cat, Inc.*		1,331		58,165
Brunswick Corp.		9,456		323,584
LeapFrog Enterprises, Inc.*		5,412		46,327
Marine Products Corp.		622		4,578
Polaris Industries, Inc.		6,848		633,371
Smith & Wesson Holding Corp.*		6,838		61,542
Sturm Ruger & Co., Inc.		2,027		102,830
				1,230,397
Media (1.2%)
AMC Networks, Inc., Class A*		8,558		540,694
Arbitron, Inc.		2,801		131,283
Belo Corp., Class A		3,587		35,260
Cablevision Systems Corp. - New York Group, Class A		2,380		35,605
Carmike Cinemas, Inc.*		615		11,144
Cinemark Holdings, Inc.		12,175		358,432
Clear Channel Outdoor Holdings, Inc., Class A*		2,647		19,826
Crown Media Holdings, Inc., Class A*		1,013		2,077
Global Sources Ltd.*		333		2,518
Imax Corp.*		41,400		1,106,622
Interpublic Group of Cos., Inc.		2,619		34,126
John Wiley & Sons, Inc., Class A		2,148		83,686
Lamar Advertising Co., Class A*		7,031		341,777
Lions Gate Entertainment Corp.*		8,415		200,025
Madison Square Garden Co., Class A*		374		21,542
MDC Partners, Inc., Class A		985		15,927
Morningstar, Inc.		2,387		166,899
National CineMedia, Inc.		63,026		994,550
Nexstar Broadcasting Group, Inc., Class A		309		5,562
Outdoor Channel Holdings, Inc.		473		4,219
Pandora Media, Inc.*		127,602		1,806,844
ReachLocal, Inc.*		1,037		15,514
Regal Entertainment Group, Class A		3,161		52,694
Rentrak Corp.*		605		13,298
Sinclair Broadcast Group, Inc., Class A		440		8,906
Valassis Communications, Inc.		2,595		77,513
Value Line, Inc.		101		951
World Wrestling Entertainment, Inc., Class A		2,653		23,399
				6,110,893
Multiline Retail (0.1%)
Big Lots, Inc.*		6,301		222,236
Gordmans Stores, Inc.*		901		10,551
				232,787
Specialty Retail (4.6%)
Aaron’s, Inc.		6,129		175,780
Aeropostale, Inc.*		8,614		117,150
American Eagle Outfitters, Inc.		16,068		300,472
America’s Car-Mart, Inc.*		855		39,963
ANN, Inc.*		5,184		150,440
Asbury Automotive Group, Inc.*		2,600		95,394
Ascena Retail Group, Inc.*		13,023		241,577
AutoNation, Inc.*		1,971		86,231
Barnes & Noble, Inc.*		263		4,326
bebe stores, Inc.		402		1,676
Body Central Corp.*		1,738		16,337
Buckle, Inc.		2,943		137,291
Cabela’s, Inc.*		4,476		272,051
CarMax, Inc.*		25,853		1,078,070
Cato Corp., Class A		2,863		69,113
Chico’s FAS, Inc.		12,456		209,261
Children’s Place Retail Stores, Inc.*		978		43,834
Citi Trends, Inc.*		41,425		423,778
Conn’s, Inc.*		179		6,426
Destination Maternity Corp.		638		14,929
Dick’s Sporting Goods, Inc.		60,356		2,854,839
DSW, Inc., Class A		16,932		1,080,262
Dufry AG (Registered)*		6,916		858,216
Express, Inc.*		9,482		168,874
Finish Line, Inc., Class A		2,064		40,434
Five Below, Inc.*		32,204		1,220,210
Foot Locker, Inc.		3,315		113,506
Francesca’s Holdings Corp.*		78,582		2,252,160
Genesco, Inc.*		2,596		155,994
GNC Holdings, Inc., Class A		7,307		287,019
Guess?, Inc.		25,000		620,750
hhgregg, Inc.*		115		1,271
Hibbett Sports, Inc.*		2,802		157,668
Hot Topic, Inc.		4,431		61,502
Jos. A. Bank Clothiers, Inc.*		2,737		109,206
Lithia Motors, Inc., Class A		15,300		726,444
Lumber Liquidators Holdings, Inc.*		22,653		1,590,694
Mattress Firm Holding Corp.*		21,876		755,597
Men’s Wearhouse, Inc.		1,137		37,999
Monro Muffler Brake, Inc.		3,266		129,693
New York & Co., Inc.*		1,822		7,452
Penske Automotive Group, Inc.		1,142		38,097
Pier 1 Imports, Inc.		10,290		236,670
Restoration Hardware Holdings, Inc.*		125		4,375
rue21, Inc.*		1,650		48,493
Sally Beauty Holdings, Inc.*		15,347		450,895
Select Comfort Corp.*		6,027		119,154
Systemax, Inc.		79		782
Tilly’s, Inc., Class A*		981		12,478
Tractor Supply Co.		9,965		1,037,655
Ulta Salon Cosmetics & Fragrance, Inc.*		21,237		1,723,807
Urban Outfitters, Inc.*		29,804		1,154,607
Vitamin Shoppe, Inc.*		28,565		1,395,400
Williams-Sonoma, Inc.		5,251		270,531

See Notes to Portfolio of Investments.

92

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Winmark Corp.		246	$	15,496
Zumiez, Inc.*		2,294		52,533
				23,274,862
Textiles, Apparel & Luxury Goods (1.8%)
Carter’s, Inc.*		5,127		293,623
Cherokee, Inc.		756		10,357
Crocs, Inc.*		9,525		141,161
Deckers Outdoor Corp.*		2,325		129,479
Fifth & Pacific Cos., Inc.*		690		13,027
Fossil, Inc.*		5,783		558,638
G-III Apparel Group Ltd.*		231		9,265
Hanesbrands, Inc.*		30,873		1,406,574
Iconix Brand Group, Inc.*		41,097		1,063,179
Maidenform Brands, Inc.*		1,798		31,519
Movado Group, Inc.		145		4,860
Oxford Industries, Inc.		1,480		78,588
PVH Corp.		14,382		1,536,141
R.G. Barry Corp.		837		11,208
Samsonite International S.A.		501,900		1,254,338
Steven Madden Ltd.*		4,161		179,506
True Religion Apparel, Inc.		2,717		70,941
Tumi Holdings, Inc.*		14,236		298,102
Under Armour, Inc., Class A*		17,734		907,981
Vera Bradley, Inc.*		2,151		50,828
Wolverine World Wide, Inc.		28,342		1,257,535
				9,306,850
Total Consumer Discretionary				76,834,822
Consumer Staples (2.8%)
Beverages (0.2%)
Boston Beer Co., Inc., Class A*		6,424		1,025,527
Coca-Cola Bottling Co. Consolidated		493		29,738
Craft Brew Alliance, Inc.*		474		3,526
National Beverage Corp.		1,232		17,310
				1,076,101
Food & Staples Retailing (0.5%)
Arden Group, Inc., Class A		74		7,481
Casey’s General Stores, Inc.		18,933		1,103,794
Chefs’ Warehouse, Inc.*		1,173		21,665
Fresh Market, Inc.*		2,925		125,102
Harris Teeter Supermarkets, Inc.		633		27,036
Natural Grocers by Vitamin Cottage, Inc.*		290		6,540
Pantry, Inc.*		176		2,195
Pricesmart, Inc.		1,929		150,134
Rite Aid Corp.*		5,778		10,978
Roundy’s, Inc.		2,148		14,112
SUPERVALU, Inc.		16,978		85,569
Susser Holdings Corp.*		493		25,197
United Natural Foods, Inc.*		5,161		253,921
Whole Foods Market, Inc.		9,540		827,595
				2,661,319
Food Products (1.5%)
Alico, Inc.		162		7,493
Annie’s, Inc.*		373		14,271
B&G Foods, Inc.		5,553		169,311
Calavo Growers, Inc.		1,249		35,946
Cal-Maine Foods, Inc.		1,327		56,477
Darling International, Inc.*		3,767		67,655
Dean Foods Co.*		16,756		303,786
Farmer Bros Co.*		74		1,088
Flowers Foods, Inc.		11,887		391,558
Green Mountain Coffee Roasters, Inc.*		53,578		3,041,087
Hain Celestial Group, Inc.*		14,303		873,627
Ingredion, Inc.		1,733		125,331
Inventure Foods, Inc.*		1,401		10,900
J&J Snack Foods Corp.		1,567		120,487
Lancaster Colony Corp.		1,955		150,535
Lifeway Foods, Inc.		498		6,922
Limoneira Co.		1,023		19,764
Pilgrim’s Pride Corp.*		5,098		46,851
Post Holdings, Inc.*		1,957		84,014
Sanderson Farms, Inc.		2,429		132,672
Snyders-Lance, Inc.		4,148		104,779
SunOpta, Inc.*		21,148		152,266
Tootsie Roll Industries, Inc.		2,432		72,736
TreeHouse Foods, Inc.*		20,362		1,326,584
WhiteWave Foods Co., Class A*		1,421		24,256
				7,340,396
Household Products (0.2%)
Central Garden & Pet Co., Class A*		618		5,080
Orchids Paper Products Co.		298		6,952
Spectrum Brands Holdings, Inc.		18,881		1,068,476
WD-40 Co.		1,696		92,890
				1,173,398
Personal Products (0.4%)
Elizabeth Arden, Inc.*		2,273		91,488
Female Health Co.		2,010		14,553
Herbalife Ltd.		11,447		428,690
Hypermarcas S.A.*		104,600		828,725
Inter Parfums, Inc.		1,226		29,951
Medifast, Inc.*		1,308		29,979
Nature’s Sunshine Products, Inc.		759		11,567
Nu Skin Enterprises, Inc., Class A		5,686		251,321
Prestige Brands Holdings, Inc.*		3,508		90,121
Star Scientific, Inc.*		15,610		25,913
Synutra International, Inc.*		1,740		8,178
USANA Health Sciences, Inc.*		572		27,645
				1,838,131
Tobacco (0.0%)
Vector Group Ltd.		4,445		71,653
Total Consumer Staples				14,160,998
Energy (4.4%)
Energy Equipment & Services (2.0%)
Atwood Oceanics, Inc.*		1,892		99,406
C&J Energy Services, Inc.*		36,160		828,064
CARBO Ceramics, Inc.		2,093		190,610
Dresser-Rand Group, Inc.*		8,015		494,205
Dril-Quip, Inc.*		11,021		960,701
Era Group, Inc.*		949		19,929
Forum Energy Technologies, Inc.*		2,516		72,360
Geospace Technologies Corp.*		1,349		145,584
Global Geophysical Services, Inc.*		2,156		5,282
Gulfmark Offshore, Inc., Class A		620		24,155
Heckmann Corp.*		1,008		4,324
Helmerich & Payne, Inc.		2,350		142,645
ION Geophysical Corp.*		13,902		94,673
Key Energy Services, Inc.*		102,900		831,432
Lufkin Industries, Inc.		3,558		236,216
Matrix Service Co.*		501		7,465
Mitcham Industries, Inc.*		870		14,720
Oceaneering International, Inc.		29,186		1,938,242

See Notes to Portfolio of Investments.

93

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Oil States International, Inc.*		17,511	$	1,428,372
PHI, Inc. (Non-Voting)*		111		3,797
Pioneer Energy Services Corp.*		114,692		946,209
RigNet, Inc.*		1,290		32,173
RPC, Inc.		5,649		85,695
SEACOR Holdings, Inc.		936		68,964
Superior Energy Services, Inc.*		16,100		418,117
TGC Industries, Inc.		1,565		15,494
Trican Well Service Ltd.		70,350		1,031,860
Willbros Group, Inc.*		921		9,044
				10,149,738
Oil, Gas & Consumable Fuels (2.4%)
Abraxas Petroleum Corp.*		8,822		20,379
Alon USA Energy, Inc.		948		18,059
Apco Oil and Gas International, Inc.		926		11,482
Approach Resources, Inc.*		3,505		86,258
Berry Petroleum Co., Class A		5,534		256,169
Bonanza Creek Energy, Inc.*		171		6,613
BPZ Resources, Inc.*		3,511		7,970
Cabot Oil & Gas Corp.		12,480		843,773
Carrizo Oil & Gas, Inc.*		3,626		93,442
Ceres, Inc.*		627		2,182
Cheniere Energy, Inc.*		14,842		415,576
Clayton Williams Energy, Inc.*		64		2,799
Clean Energy Fuels Corp.*		7,054		91,702
Cobalt International Energy, Inc.*		18,020		508,164
Contango Oil & Gas Co.		1,231		49,351
Crosstex Energy, Inc.		3,997		76,982
CVR Energy, Inc.		1,209		62,409
Diamondback Energy, Inc.*		722		19,379
Endeavour International Corp.*		4,636		13,676
Energy XXI Bermuda Ltd.		6,095		165,906
Evolution Petroleum Corp.*		1,751		17,773
FX Energy, Inc.*		5,656		19,004
GasLog Ltd.		1,084		13,940
Gevo, Inc.*		3,093		6,928
Golar LNG Ltd.		4,588		169,573
Goodrich Petroleum Corp.*		2,783		43,554
Gulfport Energy Corp.*		2,702		123,833
Halcon Resources Corp.*		10,300		80,237
Harvest Natural Resources, Inc.*		222		779
Isramco, Inc.*		109		10,806
KiOR, Inc., Class A*		2,816		13,094
Kodiak Oil & Gas Corp.*		27,928		253,866
Kosmos Energy Ltd.*		7,517		84,942
Laredo Petroleum Holdings, Inc.*		44,691		817,398
Magnum Hunter Resources Corp.*		5,569		22,332
Matador Resources Co.*		1,245		11,031
Midstates Petroleum Co., Inc.*		1,162		9,935
Northern Oil and Gas, Inc.*		6,706		96,432
Oasis Petroleum, Inc.*		35,227		1,341,092
Panhandle Oil and Gas, Inc., Class A		764		21,889
PDC Energy, Inc.*		13,300		659,281
Pioneer Natural Resources Co.		8,670		1,077,248
Renewable Energy Group, Inc.*		270		2,076
Rentech, Inc.		16,191		38,049
REX American Resources Corp.*		67		1,482
Rex Energy Corp.*		47,100		776,208
Rosetta Resources, Inc.*		5,590		265,972
Sanchez Energy Corp.*		54,932		1,094,245
Saratoga Resources, Inc.*		2,243		5,966
SM Energy Co.		18,672		1,105,756
Solazyme, Inc.*		3,492		27,273
Southwestern Energy Co.*		17,140		638,636
Synergy Resources Corp.*		197		1,351
Targa Resources Corp.		3,070		208,637
Uranerz Energy Corp.*		6,726		8,542
Uranium Energy Corp.*		4,358		9,588
VAALCO Energy, Inc.*		6,181		46,914
W&T Offshore, Inc.		279		3,962
Warren Resources, Inc.*		1,553		4,985
Western Refining, Inc.		3,620		128,184
World Fuel Services Corp.		2,463		97,830
ZaZa Energy Corp.*		1,230		2,226
				12,115,120
Total Energy				22,264,858
Financials (7.2%)
Capital Markets (2.1%)
Affiliated Managers Group, Inc.*		15,767		2,421,338
Artisan Partners Asset Management, Inc.*		2,800		110,460
BGC Partners, Inc., Class A		10,301		42,852
Cohen & Steers, Inc.		1,947		70,228
Diamond Hill Investment Group, Inc.		285		22,176
Duff & Phelps Corp., Class A		922		14,300
Eaton Vance Corp.		12,216		510,995
Evercore Partners, Inc., Class A		35,890		1,493,024
Federated Investors, Inc., Class B		8,110		191,964
Financial Engines, Inc.		4,904		177,623
GAMCO Investors, Inc., Class A		691		36,699
Greenhill & Co., Inc.		3,086		164,731
HFF, Inc., Class A		2,961		59,013
ICG Group, Inc.*		292		3,644
Ladenburg Thalmann Financial Services, Inc.*		11,055		18,351
Lazard Ltd., Class A		46,517		1,587,625
LPL Financial Holdings, Inc.		4,621		148,981
Main Street Capital Corp.		253		8,119
Manning & Napier, Inc.		33,000		545,820
OFS Capital Corp.		150		2,100
Pzena Investment Management, Inc., Class A		657		4,271
SEI Investments Co.		14,535		419,335
Stellus Capital Investment Corp.		156		2,312
Stifel Financial Corp.*		28,860		1,000,576
Virtus Investment Partners, Inc.*		4,736		882,222
Waddell & Reed Financial, Inc., Class A		9,141		400,193
Westwood Holdings Group, Inc.		706		31,368
WhiteHorse Finance, Inc.		109		1,725
WisdomTree Investments, Inc.*		6,176		64,230
				10,436,275
Commercial Banks (1.3%)
Arrow Financial Corp.		53		1,306
Bank of the Ozarks, Inc.		2,255		100,009
Bridge Capital Holdings*		287		4,374
Eagle Bancorp, Inc.*		127		2,780
First Republic Bank/California		15,951		616,028
FNB United Corp.*		791		7,720
Hancock Holding Co.		18,800		581,296
IBERIABANK Corp.		19,606		980,692
Investors Bancorp, Inc.		795		14,930
Penns Woods Bancorp, Inc.		27		1,106
Signature Bank/New York*		23,214		1,828,335
SVB Financial Group*		14,510		1,029,339
TCF Financial Corp.		63,500		949,960
Texas Capital Bancshares, Inc.*		3,693		149,382

See Notes to Portfolio of Investments.

94

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Westamerica Bancorp		1,621	$	73,480
				6,340,737
Consumer Finance (0.3%)
Cash America International, Inc.		1,284		67,371
Credit Acceptance Corp.*		778		95,025
DFC Global Corp.*		3,639		60,553
Encore Capital Group, Inc.*		1,712		51,531
EZCORP, Inc., Class A*		3,491		74,358
First Cash Financial Services, Inc.*		3,037		177,179
Green Dot Corp., Class A*		2,519		42,093
Netspend Holdings, Inc.*		49,489		786,380
Portfolio Recovery Associates, Inc.*		1,806		229,218
Regional Management Corp.*		485		9,797
World Acceptance Corp.*		1,027		88,188
				1,681,693
Diversified Financial Services (0.4%)
CBOE Holdings, Inc.		8,027		296,517
IntercontinentalExchange, Inc.*		7,940		1,294,776
MarketAxess Holdings, Inc.		3,866		144,202
MicroFinancial, Inc.		375		3,161
MSCI, Inc.*		12,863		436,442
				2,175,098
Insurance (1.0%)
Allied World Assurance Co. Holdings AG		1,973		182,937
American Safety Insurance Holdings Ltd.*		113		2,821
Amtrust Financial Services, Inc.		456		15,800
Aon plc		14,180		872,070
Arch Capital Group Ltd.*		1,610		84,638
Arthur J. Gallagher & Co.		12,552		518,523
Assured Guaranty Ltd.		32,110		661,787
Brown & Brown, Inc.		1,111		35,597
Donegal Group, Inc., Class A		75		1,145
eHealth, Inc.*		2,201		39,354
Endurance Specialty Holdings Ltd.		489		23,379
Erie Indemnity Co., Class A		2,736		206,650
First American Financial Corp.		1,061		27,130
Greenlight Capital Reinsurance Ltd., Class A*		844		20,636
Hallmark Financial Services*		161		1,449
Hanover Insurance Group, Inc.		22,338		1,109,752
Homeowners Choice, Inc.		177		4,823
Meadowbrook Insurance Group, Inc.		428		3,017
Montpelier Reinsurance Holdings Ltd.		665		17,323
Navigators Group, Inc.*		452		26,555
State Auto Financial Corp.		254		4,425
Tower Group International Ltd.		2,285		42,158
Universal Insurance Holdings, Inc.		226		1,096
Validus Holdings Ltd.		1,573		58,783
XL Group plc		30,640		928,392
				4,890,240
Real Estate Investment Trusts (REITs) (1.7%)
Acadia Realty Trust (REIT)		5,647		156,817
Alexander’s, Inc. (REIT)		221		72,861
American Campus Communities, Inc. (REIT)		1,077		48,831
AmREIT, Inc. (REIT), Class B		60		1,168
Apartment Investment & Management Co. (REIT), Class A		10,836		332,232
Apollo Residential Mortgage, Inc. (REIT)		320		7,133
Associated Estates Realty Corp. (REIT)		2,285		42,592
BRE Properties, Inc. (REIT)		2,300		111,964
Camden Property Trust (REIT)		6,735		462,560
Coresite Realty Corp. (REIT)		1,096		38,338
CyrusOne, Inc. (REIT)		9,556		218,259
DuPont Fabros Technology, Inc. (REIT)		3,061		74,290
EastGroup Properties, Inc. (REIT)		2,979		173,378
Equity Lifestyle Properties, Inc. (REIT)		3,611		277,325
Essex Property Trust, Inc. (REIT)		4,026		606,235
Extra Space Storage, Inc. (REIT)		7,359		288,988
Federal Realty Investment Trust (REIT)		5,321		574,881
FelCor Lodging Trust, Inc. (REIT)*		7,810		46,470
Glimcher Realty Trust (REIT)		13,302		154,303
Gyrodyne Co. of America, Inc. (REIT)		123		9,042
Highwoods Properties, Inc. (REIT)		6,742		266,781
Home Properties, Inc. (REIT)		2,899		183,855
Host Hotels & Resorts, Inc. (REIT)		65,281		1,141,765
Inland Real Estate Corp. (REIT)		3,654		36,869
JAVELIN Mortgage Investment Corp. (REIT)		122		2,397
Kilroy Realty Corp. (REIT)		607		31,807
LTC Properties, Inc. (REIT)		708		28,837
Mid-America Apartment Communities, Inc. (REIT)		4,095		282,801
Monmouth Real Estate Investment Corp. (REIT), Class A		1,901		21,196
National Health Investors, Inc. (REIT)		2,598		170,039
Omega Healthcare Investors, Inc. (REIT)		11,867		360,282
Post Properties, Inc. (REIT)		2,358		111,062
Potlatch Corp. (REIT)		2,683		123,042
PS Business Parks, Inc. (REIT)		1,620		127,850
Rayonier, Inc. (REIT)		10,284		613,646
Regency Centers Corp. (REIT)		5,741		303,756
Ryman Hospitality Properties (REIT)		2,321		106,186
Saul Centers, Inc. (REIT)		798		34,905
Silver Bay Realty Trust Corp. (REIT)		622		12,875
Sovran Self Storage, Inc. (REIT)		2,943		189,794
Spirit Realty Capital, Inc. (REIT)		647		12,293
Strategic Hotels & Resorts, Inc. (REIT)*		16,243		135,629
Sun Communities, Inc. (REIT)		3,793		187,109
Tanger Factory Outlet Centers (REIT)		9,824		355,432
Taubman Centers, Inc. (REIT)		1,939		150,583
UMH Properties, Inc. (REIT)		301		3,091
Universal Health Realty Income Trust (REIT)		788		45,475
Urstadt Biddle Properties, Inc. (REIT), Class A		1,917		41,714
Washington Real Estate Investment Trust (REIT)		2,209		61,499
ZAIS Financial Corp. (REIT)*		83		1,712
				8,841,949
Real Estate Management & Development (0.4%)
Alexander & Baldwin, Inc.*		316		11,297
BR Malls Participacoes S.A.		64,700		809,731
Countrywide plc*		4,996		29,606

See Notes to Portfolio of Investments.

95

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Realogy Holdings Corp.*		14,904	$	727,911
St. Joe Co.*		824		17,510
Tejon Ranch Co.*		1,385		41,245
Zillow, Inc., Class A*		8,158		445,998
				2,083,298
Thrifts & Mortgage Finance (0.0%)
Beneficial Mutual Bancorp, Inc.*		448		4,614
BofI Holding, Inc.*		78		2,799
Clifton Savings Bancorp, Inc.		114		1,420
First Federal Bancshares of Arkansas, Inc.*		99		990
Heritage Financial Group, Inc.		84		1,216
Hingham Institution for Savings		15		1,046
Meridian Interstate Bancorp, Inc.*		52		975
Nationstar Mortgage Holdings, Inc.*		2,039		75,239
Ocwen Financial Corp.*		680		25,786
Oritani Financial Corp.		1,706		26,426
People’s United Financial, Inc.		7,706		103,569
Tree.com, Inc.		391		7,229
				251,309
Total Financials				36,700,599
Health Care (12.1%)
Biotechnology (3.2%)
Achillion Pharmaceuticals, Inc.*		35,070		306,512
Acorda Therapeutics, Inc.*		4,245		135,967
Aegerion Pharmaceuticals, Inc.*		2,989		120,576
Affymax, Inc.*		3,815		5,303
Agenus, Inc.*		1,498		5,827
Alkermes plc*		12,952		307,092
Alnylam Pharmaceuticals, Inc.*		5,840		142,321
AMAG Pharmaceuticals, Inc.*		1,806		43,073
Amarin Corp. plc (ADR)*		48,900		362,349
Amicus Therapeutics, Inc.*		3,228		10,233
Anacor Pharmaceuticals, Inc.*		1,686		10,892
AP Pharma, Inc.*		13,800		5,106
Arena Pharmaceuticals, Inc.*		61,313		503,380
ARIAD Pharmaceuticals, Inc.*		43,297		783,243
ArQule, Inc.*		6,232		16,141
Array BioPharma, Inc.*		12,206		60,054
AVEO Pharmaceuticals, Inc.*		4,431		32,568
BioCryst Pharmaceuticals, Inc.*		5,271		6,272
BioMarin Pharmaceutical, Inc.*		21,886		1,362,622
Biospecifics Technologies Corp.*		530		9,037
Biotime, Inc.*		3,541		13,527
Celldex Therapeutics, Inc.*		56,400		653,112
Cepheid, Inc.*		6,952		266,748
ChemoCentryx, Inc.*		580		8,016
Clovis Oncology, Inc.*		1,459		41,830
Coronado Biosciences, Inc.*		1,992		19,362
Cubist Pharmaceuticals, Inc.*		29,868		1,398,420
Curis, Inc.*		6,548		21,477
Cytori Therapeutics, Inc.*		4,996		12,540
Dendreon Corp.*		16,297		77,085
Discovery Laboratories, Inc.*		4,607		10,550
Durata Therapeutics, Inc.*		738		6,642
Dyax Corp.*		10,565		46,063
Dynavax Technologies Corp.*		16,986		37,709
Emergent Biosolutions, Inc.*		573		8,011
Exact Sciences Corp.*		31,949		313,100
Exelixis, Inc.*		19,363		89,457
Genomic Health, Inc.*		1,699		48,048
GTx, Inc.*		2,428		10,076
Halozyme Therapeutics, Inc.*		9,433		54,428
Hyperion Therapeutics, Inc.*		359		9,269
Idenix Pharmaceuticals, Inc.*		8,454		30,096
ImmunoCellular Therapeutics Ltd.*		5,262		14,418
ImmunoGen, Inc.*		6,874		110,396
Immunomedics, Inc.*		7,513		18,106
Incyte Corp.*		10,202		238,829
Infinity Pharmaceuticals, Inc.*		3,160		153,165
Intercept Pharmaceuticals, Inc.*		391		14,623
InterMune, Inc.*		41,207		372,923
Ironwood Pharmaceuticals, Inc.*		7,953		145,460
Isis Pharmaceuticals, Inc.*		10,622		179,937
KaloBios Pharmaceuticals, Inc.*		727		4,362
Keryx Biopharmaceuticals, Inc.*		8,580		60,403
KYTHERA Biopharmaceuticals, Inc.*		416		10,134
Lexicon Pharmaceuticals, Inc.*		9,662		21,063
Ligand Pharmaceuticals, Inc., Class B*		1,858		49,516
LipoScience, Inc.*		445		4,677
MannKind Corp.*		14,337		48,602
Medivation, Inc.*		7,683		359,334
Merrimack Pharmaceuticals, Inc.*		1,615		9,852
Momenta Pharmaceuticals, Inc.*		1,943		25,920
Myriad Genetics, Inc.*		8,528		216,611
Neurocrine Biosciences, Inc.*		6,991		84,871
NewLink Genetics Corp.*		1,696		20,810
Novavax, Inc.*		13,516		30,816
NPS Pharmaceuticals, Inc.*		6,046		61,609
OncoGenex Pharmaceutical, Inc.*		1,577		17,867
Oncothyreon, Inc.*		6,125		12,740
Onyx Pharmaceuticals, Inc.*		27,408		2,435,475
Opko Health, Inc.*		11,289		86,135
Orexigen Therapeutics, Inc.*		8,706		54,413
Osiris Therapeutics, Inc.*		1,737		18,065
PDL BioPharma, Inc.		12,878		94,138
Pharmacyclics, Inc.*		11,162		897,536
Progenics Pharmaceuticals, Inc.*		4,773		25,726
Puma Biotechnology, Inc.*		21,300		711,207
Raptor Pharmaceutical Corp.*		5,410		31,649
Regeneron Pharmaceuticals, Inc.*		3,060		539,784
Regulus Therapeutics, Inc.*		1,121		8,688
Repligen Corp.*		2,971		20,530
Rigel Pharmaceuticals, Inc.*		7,305		49,601
Sangamo BioSciences, Inc.*		5,556		53,115
Seattle Genetics, Inc.*		10,049		356,840
SIGA Technologies, Inc.*		3,590		12,852
Spectrum Pharmaceuticals, Inc.		6,282		46,864
Sunesis Pharmaceuticals, Inc.*		3,053		16,700
Synageva BioPharma Corp.*		1,185		65,080
Synergy Pharmaceuticals, Inc.*		4,388		26,635
Synta Pharmaceuticals Corp.*		4,171		35,871
Tesaro, Inc.*		462		10,146
Theravance, Inc.*		6,427		151,806
Threshold Pharmaceuticals, Inc.*		4,835		22,289
Trius Therapeutics, Inc.*		3,198		21,874
United Therapeutics Corp.*		5,060		308,002
Vanda Pharmaceuticals, Inc.*		2,964		11,619
Verastem, Inc.*		666		6,407
Vertex Pharmaceuticals, Inc.*		5,400		296,892
Vical, Inc.*		7,429		29,567
XOMA Corp.*		7,727		26,967
ZIOPHARM Oncology, Inc.*		7,109		13,009
				16,176,660
Health Care Equipment & Supplies (3.4%)
Abaxis, Inc.		2,294		108,552
ABIOMED, Inc.*		3,522		65,756

See Notes to Portfolio of Investments.

96

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Accuray, Inc.*		7,627	$	35,389
Align Technology, Inc.*		12,492		418,607
Analogic Corp.		1,298		102,568
Anika Therapeutics, Inc.*		1,265		18,368
Antares Pharma, Inc.*		11,372		40,712
ArthroCare Corp.*		2,420		84,119
AtriCure, Inc.*		1,956		15,492
Atrion Corp.		170		32,638
Boston Scientific Corp.*		77,200		602,932
Cantel Medical Corp.		2,231		67,064
Cardiovascular Systems, Inc.*		1,947		39,875
Cerus Corp.*		5,988		26,467
Conceptus, Inc.*		3,313		80,009
Cooper Cos., Inc.		1,496		161,388
Cyberonics, Inc.*		2,917		136,545
Cynosure, Inc., Class A*		671		17,560
Derma Sciences, Inc.*		83		1,003
DexCom, Inc.*		92,564		1,547,670
Edwards Lifesciences Corp.*		12,460		1,023,714
Endologix, Inc.*		5,858		94,607
EnteroMedics, Inc.*		3,721		3,721
Exactech, Inc.*		223		4,614
Globus Medical, Inc., Class A*		745		10,937
Greatbatch, Inc.*		38,800		1,158,956
Haemonetics Corp.*		5,373		223,839
Hansen Medical, Inc.*		5,889		11,837
HeartWare International, Inc.*		27,155		2,401,317
Hologic, Inc.*		78,360		1,770,936
ICU Medical, Inc.*		1,212		71,447
IDEXX Laboratories, Inc.*		5,823		537,987
Insulet Corp.*		5,529		142,980
Integra LifeSciences Holdings Corp.*		1,169		45,603
MAKO Surgical Corp.*		4,147		46,239
Masimo Corp.		5,290		103,790
Meridian Bioscience, Inc.		4,360		99,495
Merit Medical Systems, Inc.*		280		3,433
Natus Medical, Inc.*		1,930		25,939
Navidea Biopharmaceuticals, Inc.*		11,526		31,235
Neogen Corp.*		19,694		976,232
NuVasive, Inc.*		1,149		24,485
NxStage Medical, Inc.*		5,431		61,262
OraSure Technologies, Inc.*		5,788		31,255
Orthofix International N.V.*		1,576		56,531
PhotoMedex, Inc.*		1,181		19,002
Quidel Corp.*		2,967		70,466
ResMed, Inc.		15,117		700,824
Rochester Medical Corp.*		976		14,269
Rockwell Medical Technologies, Inc.*		2,545		10,078
RTI Biologics, Inc.*		392		1,544
Sirona Dental Systems, Inc.*		17,498		1,290,128
Spectranetics Corp.*		3,625		67,171
STAAR Surgical Co.*		3,904		21,980
STERIS Corp.		4,507		187,536
SurModics, Inc.*		290		7,902
Symmetry Medical, Inc.*		1,216		13,923
Thoratec Corp.*		22,103		828,863
Tornier N.V.*		1,156		21,791
Unilife Corp.*		9,475		20,656
Utah Medical Products, Inc.		342		16,679
Vascular Solutions, Inc.*		1,728		28,028
Volcano Corp.*		53,189		1,183,987
West Pharmaceutical Services, Inc.		2,293		148,907
Wright Medical Group, Inc.*		367		8,738
Zeltiq Aesthetics, Inc.*		865		3,304
				17,230,881
Health Care Providers & Services (2.4%)
Acadia Healthcare Co., Inc.*		42,034		1,235,379
Accretive Health, Inc.*		5,932		60,269
Air Methods Corp.		17,714		854,523
AMN Healthcare Services, Inc.*		2,600		41,158
Amsurg Corp.*		1,102		37,071
Bio-Reference Labs, Inc.*		2,590		67,288
BioScrip, Inc.*		1,243		15,798
Capital Senior Living Corp.*		2,595		68,586
Catamaran Corp.*		74,382		3,944,477
Centene Corp.*		5,440		239,578
Chemed Corp.		2,033		162,599
Corvel Corp.*		656		32,465
Emeritus Corp.*		3,239		90,012
Ensign Group, Inc.		1,134		37,876
ExamWorks Group, Inc.*		604		10,461
HealthSouth Corp.*		8,552		225,516
IPC The Hospitalist Co., Inc.*		1,768		78,641
Landauer, Inc.		1,006		56,718
LHC Group, Inc.*		93		1,999
Magellan Health Services, Inc.*		147		6,993
MEDNAX, Inc.*		13,400		1,201,042
Molina Healthcare, Inc.*		273		8,427
MWI Veterinary Supply, Inc.*		8,050		1,064,693
National Research Corp.		268		15,555
Owens & Minor, Inc.		5,744		187,025
Patterson Cos., Inc.		9,150		348,066
Providence Service Corp.*		346		6,398
Skilled Healthcare Group, Inc., Class A*		1,902		12,496
Team Health Holdings, Inc.*		14,860		540,607
Tenet Healthcare Corp.*		653		31,070
U.S. Physical Therapy, Inc.		1,263		33,912
Universal Health Services, Inc., Class B		557		35,576
Vanguard Health Systems, Inc.*		36,836		547,751
WellCare Health Plans, Inc.*		12,558		727,862
				12,027,887
Health Care Technology (0.4%)
athenahealth, Inc.*		3,792		367,976
Computer Programs & Systems, Inc.		1,165		63,038
Greenway Medical Technologies*		666		10,589
HealthStream, Inc.*		2,093		48,013
HMS Holdings Corp.*		41,101		1,115,892
MedAssets, Inc.*		2,039		39,251
Medidata Solutions, Inc.*		2,478		143,674
Merge Healthcare, Inc.*		4,667		13,488
Omnicell, Inc.*		433		8,175
Quality Systems, Inc.		4,166		76,155
Vocera Communications, Inc.*		298		6,854
				1,893,105
Life Sciences Tools & Services (1.2%)
Agilent Technologies, Inc.		25,850		1,084,925
BG Medicine, Inc.*		1,702		3,166
Bruker Corp.*		9,852		188,173
Cambrex Corp.*		1,649		21,091
Charles River Laboratories International, Inc.*		3,290		145,648
Covance, Inc.*		12,651		940,222
Fluidigm Corp.*		2,586		47,867
Furiex Pharmaceuticals, Inc.*		791		29,647

See Notes to Portfolio of Investments.

97

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Harvard Bioscience, Inc.*		171	$	966
ICON plc*		31,488		1,016,748
Luminex Corp.*		4,393		72,572
Mettler-Toledo International, Inc.*		3,329		709,809
PAREXEL International Corp.*		39,635		1,565,979
Sequenom, Inc.*		9,345		38,782
Techne Corp.		3,897		264,411
				6,130,006
Pharmaceuticals (1.5%)
Actavis, Inc.*		13,720		1,263,749
Acura Pharmaceuticals, Inc.*		1,098		2,339
Akorn, Inc.*		66,544		920,304
Ampio Pharmaceuticals, Inc.*		2,712		12,394
Auxilium Pharmaceuticals, Inc.*		5,111		88,318
AVANIR Pharmaceuticals, Inc., Class A*		13,369		36,631
BioDelivery Sciences International, Inc.*		2,767		11,649
Cadence Pharmaceuticals, Inc.*		6,407		42,863
Cempra, Inc.*		366		2,470
Corcept Therapeutics, Inc.*		5,219		10,438
Cumberland Pharmaceuticals, Inc.*		682		3,396
Depomed, Inc.*		5,966		35,020
Endo Health Solutions, Inc.*		7,384		227,132
Endocyte, Inc.*		3,168		39,442
Forest Laboratories, Inc.*		22,550		857,802
Hi-Tech Pharmacal Co., Inc.		443		14,668
Horizon Pharma, Inc.*		2,342		6,347
Impax Laboratories, Inc.*		54,601		843,039
Jazz Pharmaceuticals plc*		19,094		1,067,546
Medicines Co.*		5,840		195,173
Nektar Therapeutics*		8,604		94,644
Obagi Medical Products, Inc.*		1,835		36,241
Omeros Corp.*		2,830		11,660
Optimer Pharmaceuticals, Inc.*		12,997		154,664
Pacira Pharmaceuticals, Inc.*		1,974		56,970
Pain Therapeutics, Inc.*		3,876		13,295
Pernix Therapeutics Holdings*		959		4,757
Pozen, Inc.*		2,859		15,067
Questcor Pharmaceuticals, Inc.		5,704		185,608
Repros Therapeutics, Inc.*		1,972		31,749
Sagent Pharmaceuticals, Inc.*		999		17,532
Salix Pharmaceuticals Ltd.*		22,654		1,159,432
Santarus, Inc.*		5,789		100,323
Sciclone Pharmaceuticals, Inc.*		6,083		27,982
Sucampo Pharmaceuticals, Inc., Class A*		1,116		7,299
Transcept Pharmaceuticals, Inc.*		84		402
Ventrus Biosciences, Inc.*		1,997		5,971
Vivus, Inc.*		10,516		115,676
XenoPort, Inc.*		3,876		27,713
Zogenix, Inc.*		5,599		10,078
				7,757,783
Total Health Care				61,216,322
Industrials (14.4%)
Aerospace & Defense (2.0%)
Aerovironment, Inc.*		1,112		20,161
American Science & Engineering, Inc.		170		10,368
Astronics Corp.*		24,191		721,376
B/E Aerospace, Inc.*		10,355		624,303
CPI Aerostructures, Inc.*		643		5,511
Cubic Corp.		910		38,875
DigitalGlobe, Inc.*		90,148		2,606,179
GenCorp, Inc.*		5,058		67,271
HEICO Corp.		5,588		242,575
Hexcel Corp.*		88,251		2,560,162
KEYW Holding Corp.*		61,531		992,495
LMI Aerospace, Inc.*		127		2,640
Moog, Inc., Class A*		543		24,886
National Presto Industries, Inc.		53		4,266
SIFCO Industries, Inc.		108		1,988
Spirit AeroSystems Holdings, Inc., Class A*		2,875		54,596
Sypris Solutions, Inc.		784		3,277
Taser International, Inc.*		5,418		43,073
Teledyne Technologies, Inc.*		1,350		105,894
TransDigm Group, Inc.		12,490		1,909,971
Triumph Group, Inc.		1,797		141,064
				10,180,931
Air Freight & Logistics (0.5%)
Echo Global Logistics, Inc.*		59,672		1,319,945
Forward Air Corp.		3,078		114,779
Hub Group, Inc., Class A*		29,922		1,150,800
Pacer International, Inc.*		413		2,077
Park-Ohio Holdings Corp.*		848		28,094
XPO Logistics, Inc.*		1,888		31,794
				2,647,489
Airlines (0.9%)
Alaska Air Group, Inc.*		7,122		455,523
Allegiant Travel Co.		15,882		1,410,004
Copa Holdings S.A., Class A		2,836		339,214
Hawaiian Holdings, Inc.*		2,995		17,251
Republic Airways Holdings, Inc.*		2,853		32,924
SkyWest, Inc.		376		6,035
Spirit Airlines, Inc.*		70,560		1,789,401
U.S. Airways Group, Inc.*		17,194		291,782
				4,342,134
Building Products (0.5%)
A.O. Smith Corp.		1,130		83,134
AAON, Inc.		1,981		54,656
American Woodmark Corp.*		175		5,955
Armstrong World Industries, Inc.*		10,945		611,716
Builders FirstSource, Inc.		4,840		28,362
Fortune Brands Home & Security, Inc.*		2,784		104,205
Insteel Industries, Inc.		137		2,236
Lennox International, Inc.		5,395		342,529
Nortek, Inc.*		825		58,872
Owens Corning, Inc.*		9,680		381,682
Patrick Industries, Inc.*		444		6,997
PGT, Inc.*		1,077		7,399
Simpson Manufacturing Co., Inc.		10,706		327,711
Trex Co., Inc.*		1,586		78,000
USG Corp.*		7,839		207,263
				2,300,717
Commercial Services & Supplies (1.1%)
A.T. Cross Co., Class A*		966		13,302
ACCO Brands Corp.*		5,558		37,128
Acorn Energy, Inc		1,932		14,200
ARC Document Solutions, Inc.*		580		1,728
Brink’s Co.		4,991		141,046
Casella Waste Systems, Inc., Class A*		236		1,031
CECO Environmental Corp.		633		8,185
Cintas Corp.		4,969		219,282
Clean Harbors, Inc.*		5,684		330,184
Copart, Inc.*		10,780		369,538

See Notes to Portfolio of Investments.

98

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Covanta Holding Corp.		815	$	16,422
Deluxe Corp.		3,616		149,702
EnergySolutions, Inc.*		2,143		8,036
EnerNOC, Inc.*		1,034		17,961
Healthcare Services Group, Inc.		7,116		182,383
Heritage-Crystal Clean, Inc.*		824		12,442
Herman Miller, Inc.		6,180		171,001
HNI Corp.		4,544		161,267
InnerWorkings, Inc.*		3,337		50,522
Interface, Inc.		62,398		1,199,290
Intersections, Inc.		674		6,342
Knoll, Inc.		3,514		63,709
McGrath RentCorp.		1,362		42,358
Mine Safety Appliances Co.		2,925		145,139
Mobile Mini, Inc.*		51,500		1,515,645
Multi-Color Corp.		80		2,063
Performant Financial Corp.*		519		6,373
Pitney Bowes, Inc.		11,132		165,422
Rollins, Inc.		6,773		166,277
Standard Parking Corp.*		1,662		34,403
Steelcase, Inc., Class A		1,070		15,761
Team, Inc.*		2,103		86,370
Tetra Tech, Inc.*		5,467		166,689
TMS International Corp., Class A*		718		9,478
TRC Cos., Inc.*		1,445		9,320
U.S. Ecology, Inc.		1,207		32,046
United Stationers, Inc.		231		8,928
Waste Connections, Inc.		785		28,244
				5,609,217
Construction & Engineering (0.3%)
Aegion Corp.*		595		13,774
Ameresco, Inc., Class A*		1,651		12,217
Argan, Inc.		248		3,698
Chicago Bridge & Iron Co. N.V. (N.Y. Shares)		6,316		392,224
Comfort Systems USA, Inc.		1,180		16,626
Dycom Industries, Inc.*		3,089		60,822
Great Lakes Dredge & Dock Corp.		734		4,940
KBR, Inc.		31,720		1,017,578
MasTec, Inc.*		5,799		169,041
MYR Group, Inc.*		1,183		29,054
Primoris Services Corp.		854		18,882
Sterling Construction Co., Inc.*		210		2,287
				1,741,143
Electrical Equipment (0.9%)
Acuity Brands, Inc.		4,479		310,619
American Superconductor Corp.*		487		1,295
AMETEK, Inc.		26,492		1,148,693
AZZ, Inc.		2,672		128,790
Babcock & Wilcox Co.		12,550		356,545
Belden, Inc.		4,285		221,320
Capstone Turbine Corp.*		31,933		28,740
Coleman Cable, Inc.		899		13,485
EnerSys, Inc.*		1,838		83,776
Enphase Energy, Inc.*		647		4,011
Franklin Electric Co., Inc.		4,694		157,578
FuelCell Energy, Inc.*		4,401		4,154
Generac Holdings, Inc.		1,187		41,949
General Cable Corp.*		333		12,198
Hubbell, Inc., Class B		5,192		504,195
II-VI, Inc.*		4,750		80,940
Polypore International, Inc.*		35,674		1,433,381
Powell Industries, Inc.*		407		21,396
Preformed Line Products Co.		28		1,959
Solarcity Corp.*		660		12,461
Thermon Group Holdings, Inc.*		1,576		35,003
Vicor Corp.*		435		2,162
				4,604,650
Industrial Conglomerates (0.3%)
Carlisle Cos., Inc.		17,980		1,218,864
Raven Industries, Inc.		3,849		129,365
				1,348,229
Machinery (3.9%)
Actuant Corp., Class A		30,777		942,392
Altra Holdings, Inc.		42,852		1,166,431
Blount International, Inc.*		5,218		69,817
Cascade Corp.		58		3,769
Chart Industries, Inc.*		16,213		1,297,202
CIRCOR International, Inc.		142		6,035
CLARCOR, Inc.		5,317		278,505
Colfax Corp.*		21,230		988,044
Commercial Vehicle Group, Inc.*		2,610		20,358
Donaldson Co., Inc.		15,770		570,716
Dynamic Materials Corp.		544		9,466
EnPro Industries, Inc.*		1,150		58,846
ESCO Technologies, Inc.		913		37,305
ExOne Co.*		422		14,137
Federal Signal Corp.*		652		5,307
Flow International Corp.*		1,176		4,598
Gorman-Rupp Co.		1,620		48,681
Graco, Inc.		6,392		370,928
Graham Corp.		1,033		25,556
IDEX Corp.		22,791		1,217,495
ITT Corp.		2,321		65,986
John Bean Technologies Corp.		3,075		63,806
Joy Global, Inc.		18,080		1,076,122
Lincoln Electric Holdings, Inc.		35,989		1,949,884
Lindsay Corp.		1,346		118,690
Manitowoc Co., Inc.		87,473		1,798,445
Meritor, Inc.*		2,462		11,645
Met-Pro Corp.		150		1,550
Middleby Corp.*		10,052		1,529,412
Mueller Industries, Inc.		336		17,905
Mueller Water Products, Inc., Class A		10,802		64,056
Nordson Corp.		6,305		415,815
Omega Flex, Inc.		256		4,401
Pall Corp.		8,340		570,206
Proto Labs, Inc.*		562		27,594
RBC Bearings, Inc.*		17,893		904,670
Rexnord Corp.*		666		14,139
Sauer-Danfoss, Inc.		1,233		72,044
Snap-on, Inc.		1,219		100,811
SPX Corp.		1,502		118,598
Standex International Corp.		311		17,173
Sun Hydraulics Corp.		2,178		70,807
Tennant Co.		1,988		96,537
Timken Co.		807		45,660
Titan International, Inc.		5,655		119,207
Toro Co.		6,344		292,078
Trimas Corp.*		3,135		101,794
Valmont Industries, Inc.		11,759		1,849,338
Wabash National Corp.*		7,218		73,335
WABCO Holdings, Inc.*		6,333		447,047
Wabtec Corp.		5,103		521,067
Woodward, Inc.		7,330		291,441
				19,986,851

See Notes to Portfolio of Investments.

99

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Marine (0.4%)
Kirby Corp.*		25,075	$	1,925,760
Matson, Inc.		316		7,774
				1,933,534
Professional Services (1.8%)
Acacia Research Corp.*		5,261		158,724
Advisory Board Co.*		46,438		2,438,924
Barrett Business Services, Inc.		747		39,337
CDI Corp.		258		4,438
Corporate Executive Board Co.		3,552		206,584
Dun & Bradstreet Corp.		2,915		243,840
Equifax, Inc.		11,472		660,672
Exponent, Inc.		5,730		309,076
Franklin Covey Co.*		1,027		14,922
GP Strategies Corp.*		1,434		34,215
Huron Consulting Group, Inc.*		28,921		1,166,095
IHS, Inc., Class A*		11,150		1,167,628
Insperity, Inc.		2,388		67,748
Kforce, Inc.		2,632		43,086
Mistras Group, Inc.*		1,670		40,431
Odyssey Marine Exploration, Inc.*		8,184		26,680
On Assignment, Inc.*		4,551		115,186
Robert Half International, Inc.		58,434		2,193,028
RPX Corp.*		2,072		29,236
TrueBlue, Inc.*		3,107		65,682
WageWorks, Inc.*		477		11,939
				9,037,471
Road & Rail (0.7%)
Avis Budget Group, Inc.*		11,231		312,559
Celadon Group, Inc.		2,146		44,766
Con-way, Inc.		3,226		113,587
Genesee & Wyoming, Inc., Class A* .		21,203		1,974,211
Heartland Express, Inc.		3,978		53,067
Hertz Global Holdings, Inc.*		14,901		331,696
Knight Transportation, Inc.		6,122		98,564
Landstar System, Inc.		4,975		284,023
Old Dominion Freight Line, Inc.*		7,536		287,875
Quality Distribution, Inc.*		859		7,224
Roadrunner Transportation Systems, Inc.*		772		17,756
Saia, Inc.*		322		11,647
Swift Transportation Co.*		8,328		118,091
Werner Enterprises, Inc.		4,025		97,164
				3,752,230
Trading Companies & Distributors (1.1%)
Aceto Corp.		673		7,450
Applied Industrial Technologies, Inc.		4,109		184,905
Beacon Roofing Supply, Inc.*		4,952		191,444
BlueLinx Holdings, Inc.*		524		1,494
CAI International, Inc.*		600		17,292
DXP Enterprises, Inc.*		929		69,396
Edgen Group, Inc.*		406		2,935
H&E Equipment Services, Inc.		1,668		34,027
Houston Wire & Cable Co.		707		9,156
Kaman Corp.		2,786		98,820
MRC Global, Inc.*		1,484		48,868
MSC Industrial Direct Co., Inc., Class A		15,067		1,292,447
SeaCube Container Leasing Ltd.		159		3,651
TAL International Group, Inc.		1,540		69,777
Textainer Group Holdings Ltd.		1,463		57,862
Titan Machinery, Inc.*		1,803		50,033
United Rentals, Inc.*		39,209		2,155,319
Watsco, Inc.		3,117		262,389
WESCO International, Inc.*		11,910		864,785
				5,422,050
Transportation Infrastructure (0.0%)
Wesco Aircraft Holdings, Inc.*		489		7,198
Total Industrials				72,913,844
Information Technology (18.5%)
Communications Equipment (2.4%)
Acme Packet, Inc.*		44,665		1,305,111
ADTRAN, Inc.		6,742		132,480
Ambient Corp.*		294		720
Anaren, Inc.*		183		3,548
Arris Group, Inc.*		1,586		27,232
Aruba Networks, Inc.*		62,344		1,542,391
Aware, Inc.		1,096		5,075
CalAmp Corp.*		3,673		40,293
Calix, Inc.*		1,463		11,924
Ciena Corp.*		63,944		1,023,743
EchoStar Corp., Class A*		1,078		42,010
Extreme Networks, Inc.*		10,070		33,936
Globecomm Systems, Inc.*		1,903		22,855
Infinera Corp.*		10,925		76,475
InterDigital, Inc.		4,342		207,678
Ixia*		64,548		1,396,819
JDS Uniphase Corp.*		144,740		1,935,174
Juniper Networks, Inc.*		36,410		675,041
KVH Industries, Inc.*		1,333		18,089
Loral Space & Communications, Inc.		1,091		67,511
NETGEAR, Inc.*		1,791		60,016
Numerex Corp., Class A*		1,256		16,064
Palo Alto Networks, Inc.*		17,687		1,001,084
Parkervision, Inc.*		8,465		31,067
Plantronics, Inc.		1,502		66,373
Procera Networks, Inc.*		2,154		25,611
Riverbed Technology, Inc.*		17,229		256,884
Ruckus Wireless, Inc.*		398		8,358
ShoreTel, Inc.*		134,143		486,939
Sonus Networks, Inc.*		2,113		5,473
Telular Corp.		1,079		10,855
Tessco Technologies, Inc.		303		6,557
Ubiquiti Networks, Inc.		1,043		14,310
ViaSat, Inc.*		30,169		1,461,386
				12,019,082
Computers & Peripherals (0.4%)
3D Systems Corp.*		8,234		265,464
Cray, Inc.*		4,170		96,786
Datalink Corp.*		1,642		19,835
Diebold, Inc.		526		15,948
Electronics for Imaging, Inc.*		381		9,662
Fusion-io, Inc.*		7,158		117,176
Immersion Corp.*		2,746		32,238
Intermec, Inc.*		818		8,041
NCR Corp.*		16,814		463,394
QLogic Corp.*		2,374		27,538
Quantum Corp.*		1,584		2,028
SanDisk Corp.*		15,260		839,300
Silicon Graphics International Corp.*		212		2,915
Stratasys Ltd.*		1,345		99,826
Super Micro Computer, Inc.*		2,710		30,596
Synaptics, Inc.*		3,562		144,938
				2,175,685

See Notes to Portfolio of Investments.

100

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Electronic Equipment, Instruments & Components (1.8%)
Anixter International, Inc.		1,819	$	127,184
Audience, Inc.*		107		1,632
Badger Meter, Inc.		1,548		82,849
Cognex Corp.		28,424		1,198,072
Coherent, Inc.		722		40,966
Daktronics, Inc.		866		9,093
DTS, Inc.*		1,936		32,196
Echelon Corp.*		2,224		5,426
Electro Rent Corp.		221		4,097
Fabrinet*		66,521		971,872
FARO Technologies, Inc.*		34,484		1,496,261
FEI Co.		3,775		243,676
FLIR Systems, Inc.		12,393		322,342
GSI Group, Inc.*		175		1,493
InvenSense, Inc.*		3,894		41,588
IPG Photonics Corp.		3,370		223,802
Jabil Circuit, Inc.		3,580		66,158
Key Tronic Corp.*		224		2,567
Littelfuse, Inc.		2,071		140,517
Maxwell Technologies, Inc.*		3,128		16,860
Measurement Specialties, Inc.*		1,405		55,877
Mesa Laboratories, Inc.		275		14,572
MTS Systems Corp.		1,695		98,564
Multi-Fineline Electronix, Inc.*		169		2,608
National Instruments Corp.		41,336		1,353,754
Neonode, Inc.*		2,414		13,929
OSI Systems, Inc.*		20,405		1,271,027
Plexus Corp.*		1,595		38,774
RealD, Inc.*		3,755		48,815
Rogers Corp.*		732		34,858
Trimble Navigation Ltd.*		26,481		793,371
Universal Display Corp.*		4,207		123,644
Zygo Corp.*		296		4,384
				8,882,828
Internet Software & Services (2.5%)
Active Network, Inc.*		4,151		17,393
Akamai Technologies, Inc.*		36,940		1,303,613
Angie’s List, Inc.*		3,746		74,021
AOL, Inc.*		1,867		71,861
Bankrate, Inc.*		4,252		50,769
Bazaarvoice, Inc.*		1,083		7,928
Blucora, Inc.*		621		9,613
Brightcove, Inc.*		600		3,726
Carbonite, Inc.*		1,199		13,129
comScore, Inc.*		3,769		63,244
Constant Contact, Inc.*		3,254		42,237
Cornerstone OnDemand, Inc.*		15,760		537,416
CoStar Group, Inc.*		16,243		1,777,959
Dealertrack Technologies, Inc.*		49,006		1,439,796
Demand Media, Inc.*		2,375		20,496
Demandware, Inc.*		657		16,655
Dice Holdings, Inc.*		4,439		44,967
E2open, Inc.*		361		7,198
Envestnet, Inc.*		54,393		952,421
ExactTarget, Inc.*		1,040		24,201
IAC/InterActiveCorp		14,962		668,502
Internap Network Services Corp.*		2,900		27,115
Ipass, Inc.*		5,169		10,235
j2 Global, Inc.		4,061		159,232
LinkedIn Corp., Class A*		10,650		1,875,039
Liquidity Services, Inc.*		2,495		74,376
LivePerson, Inc.*		5,812		78,927
LogMeIn, Inc.*		2,359		45,340
Marin Software, Inc.*		17,400		285,882
Market Leader, Inc.*		2,005		17,965
MeetMe, Inc.*		234		533
Millennial Media, Inc.*		1,155		7,334
Move, Inc.*		4,193		50,106
NIC, Inc.		6,829		130,844
OpenTable, Inc.*		10,193		641,955
Perficient, Inc.*		2,629		30,654
Responsys, Inc.*		3,812		33,736
Saba Software, Inc.*		3,129		24,875
SciQuest, Inc.*		1,908		45,868
Spark Networks, Inc.*		1,171		8,244
SPS Commerce, Inc.*		1,321		56,367
Stamps.com, Inc.*		1,410		35,208
support.com, Inc.*		3,600		15,048
Synacor, Inc.*		685		2,048
Travelzoo, Inc.*		761		16,263
Trulia, Inc.*		4,608		144,599
Unwired Planet, Inc.*		8,644		19,190
ValueClick, Inc.*		4,779		141,219
VistaPrint N.V.*		3,613		139,679
Vocus, Inc.*		2,214		31,328
Web.com Group, Inc.*		3,692		63,059
XO Group, Inc.*		2,780		27,800
Xoom Corp.*		689		15,737
Yelp, Inc.*		51,701		1,225,831
Zix Corp.*		6,498		23,263
				12,652,044
IT Services (2.2%)
Alliance Data Systems Corp.*		5,333		863,359
Broadridge Financial Solutions, Inc.		13,230		328,633
CACI International, Inc., Class A*		200		11,574
Cardtronics, Inc.*		4,670		128,238
Cass Information Systems, Inc.		1,092		45,908
CIBER, Inc.*		161,300		758,110
Computer Task Group, Inc.		1,257		26,887
CSG Systems International, Inc.*		2,089		44,266
DST Systems, Inc.		571		40,695
EPAM Systems, Inc.*		529		12,289
ExlService Holdings, Inc.*		2,464		81,016
FleetCor Technologies, Inc.*		5,148		394,697
Forrester Research, Inc.		1,480		46,842
Gartner, Inc.*		9,869		536,972
Genpact Ltd.		10,773		195,961
Global Cash Access Holdings, Inc.*		7,027		49,540
Global Payments, Inc.		8,329		413,618
Hackett Group, Inc.		2,641		12,069
Heartland Payment Systems, Inc.		4,109		135,474
Higher One Holdings, Inc.*		2,923		25,986
iGATE Corp.*		3,383		63,634
Innodata, Inc.*		2,380		8,211
Jack Henry & Associates, Inc.		9,238		426,888
Lender Processing Services, Inc.		8,940		227,612
Lionbridge Technologies, Inc.*		5,902		22,841
Mattersight Corp.*		1,021		4,380
MAXIMUS, Inc.		15,158		1,212,185
MoneyGram International, Inc.*		643		11,638
NeuStar, Inc., Class A*		7,088		329,805
PRGX Global, Inc.*		2,430		16,889
SAIC, Inc.		10,598		143,603
Sapient Corp.*		99,584		1,213,929
ServiceSource International, Inc.*		5,306		37,514
Syntel, Inc.		1,629		109,990
Teradata Corp.*		18,580		1,087,116

See Notes to Portfolio of Investments.

101

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MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Total System Services, Inc		14,721	$	364,786
Unisys Corp.*		2,348		53,417
Vantiv, Inc., Class A*		44,483		1,056,027
VeriFone Systems, Inc.*		11,378		235,297
Virtusa Corp.*		1,991		47,306
WEX, Inc.*		4,118		323,263
				11,148,465
Office Electronics (0.0%)
Zebra Technologies Corp., Class A*		857		40,390
Semiconductors & Semiconductor Equipment (3.0%)
Ambarella, Inc.*		188		2,944
Atmel Corp.*		4,052		28,202
ATMI, Inc.*		216		4,845
Cabot Microelectronics Corp.*		2,510		87,222
Cavium, Inc.*		33,823		1,312,671
CEVA, Inc.*		1,884		29,390
Cirrus Logic, Inc.*		6,812		154,973
Cree, Inc.*		19,879		1,087,580
Cymer, Inc.*		1,005		96,580
Cypress Semiconductor Corp.*		8,901		98,178
Exar Corp.*		495		5,198
Fairchild Semiconductor International, Inc.*		77,958		1,102,326
Freescale Semiconductor Ltd.*		5,052		75,224
GT Advanced Technologies, Inc.*		10,740		35,335
Hittite Microwave Corp.*		3,343		202,452
Inphi Corp.*		1,022		10,680
Intermolecular, Inc.*		1,467		14,963
Lattice Semiconductor Corp.*		294,600		1,605,570
LSI Corp.*		60,165		407,919
MA-COM Technology Solutions Holdings, Inc.*		114		1,832
MaxLinear, Inc., Class A*		421		2,610
MEMC Electronic Materials, Inc.*		5,494		24,174
Micrel, Inc.		5,096		53,559
Micron Technology, Inc.*		46,870		467,763
Microsemi Corp.*		9,415		218,146
Monolithic Power Systems, Inc		3,386		82,517
NVE Corp.*		510		28,774
NXP Semiconductor N.V.*		32,320		978,003
PDF Solutions, Inc.*		2,539		40,675
Peregrine Semiconductor Corp.*		245		2,394
PLX Technology, Inc.*		4,459		20,333
Power Integrations, Inc		26,013		1,129,224
QuickLogic Corp.*		3,962		9,747
Rambus, Inc.*		866		4,858
RF Micro Devices, Inc.*		3,673		19,540
Semtech Corp.*		48,146		1,703,887
Silicon Image, Inc.*		6,747		32,790
Silicon Laboratories, Inc.*		28,046		1,159,983
Skyworks Solutions, Inc.*		17,872		393,720
SunPower Corp.*		1,955		22,561
Teradyne, Inc.*		48,890		792,996
Ultratech, Inc.*		2,770		109,498
Veeco Instruments, Inc.*		22,549		864,303
Volterra Semiconductor Corp.*		59,310		842,202
				15,368,341
Software (6.2%)
ACI Worldwide, Inc.*		4,215		205,945
Actuate Corp.*		4,952		29,712
Advent Software, Inc.*		37,537		1,049,910
American Software, Inc., Class A		2,528		21,033
ANSYS, Inc.*		21,038		1,712,914
Aspen Technology, Inc.*		41,888		1,352,564
Autodesk, Inc.*		34,020		1,402,985
AVG Technologies N.V.*		814		11,331
Blackbaud, Inc.		4,776		141,513
Bottomline Technologies (de), Inc.*		59,527		1,697,115
BroadSoft, Inc.*		46,013		1,217,964
Cadence Design Systems, Inc.*		221,453		3,084,840
Callidus Software, Inc.*		3,948		18,042
CommVault Systems, Inc.*		4,734		388,093
Compuware Corp.*		1,199		14,988
Comverse, Inc.*		2,303		64,576
Concur Technologies, Inc.*		18,434		1,265,678
Digimarc Corp.		763		16,763
Ebix, Inc.		2,276		36,917
Ellie Mae, Inc.*		2,687		64,622
Envivio, Inc.*		274		466
EPIQ Systems, Inc.		240		3,367
Exa Corp.*		463		4,408
FactSet Research Systems, Inc.		4,752		440,035
Fair Isaac Corp.		3,632		165,946
FalconStor Software, Inc.*		3,187		8,541
FleetMatics Group plc*		704		17,072
Fortinet, Inc.*		50,639		1,199,132
Glu Mobile, Inc.*		5,461		16,274
Guidance Software, Inc.*		1,540		16,709
Guidewire Software, Inc.*		14,160		544,310
Imperva, Inc.*		1,089		41,927
Infoblox, Inc.*		836		18,141
Informatica Corp.*		11,457		394,923
Interactive Intelligence Group, Inc.*		1,550		68,743
Jive Software, Inc.*		1,807		27,466
Manhattan Associates, Inc.*		2,153		159,946
Mentor Graphics Corp.		5,312		95,882
MICROS Systems, Inc.*		32,313		1,470,565
MicroStrategy, Inc., Class A*		901		91,073
Monotype Imaging Holdings, Inc.		3,869		91,889
NetScout Systems, Inc.*		3,885		95,454
NetSuite, Inc.*		3,324		266,119
Nuance Communications, Inc.*		25,565		515,902
Pegasystems, Inc.		1,808		50,769
Pervasive Software, Inc.*		111		1,018
Proofpoint, Inc.*		644		10,858
PROS Holdings, Inc.*		2,307		62,681
PTC, Inc.*		12,649		322,423
QAD, Inc., Class A		466		5,983
QAD, Inc., Class B		116		1,343
QLIK Technologies, Inc.*		9,042		233,555
Qualys, Inc.*		623		7,688
RealPage, Inc.*		3,780		78,284
Red Hat, Inc.*		7,000		353,920
Rosetta Stone, Inc.*		571		8,782
Rovi Corp.*		2,221		47,552
Salesforce.com, Inc.*		6,080		1,087,286
ServiceNow, Inc.*		68,739		2,488,352
SolarWinds, Inc.*		26,280		1,553,148
Solera Holdings, Inc.		22,190		1,294,343
Sourcefire, Inc.*		3,125		185,094
Splunk, Inc.*		16,433		657,813
SS&C Technologies Holdings, Inc.*		967		28,991
Symantec Corp.*		36,390		898,105
Synchronoss Technologies, Inc.*		2,935		91,073
Synopsys, Inc.*		1,202		43,128
Take-Two Interactive Software, Inc.*		8,284		133,787

See Notes to Portfolio of Investments.

102

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Tangoe, Inc.*		3,189	$	39,512
TIBCO Software, Inc.*		59,546		1,204,020
TiVo, Inc.*		6,601		81,786
Tyler Technologies, Inc.*		3,194		195,664
Ultimate Software Group, Inc.*		2,820		293,731
VASCO Data Security International, Inc.*		1,394		11,765
Verint Systems, Inc.*		5,308		194,007
VirnetX Holding Corp.*		4,455		85,402
Websense, Inc.*		3,914		58,710
Workday, Inc., Class A*		2,842		175,152
				31,537,520
Total Information Technology				93,824,355
Materials (3.4%)
Chemicals (1.7%)
ADA-ES, Inc.*		966		25,667
Albemarle Corp.		5,330		333,232
American Vanguard Corp.		2,946		89,971
Arabian American Development Co.*		2,149		18,116
Axiall Corp.		6,020		374,203
Balchem Corp.		3,090		135,775
Calgon Carbon Corp.*		4,805		86,971
Chemtura Corp.*		7,257		156,824
Flotek Industries, Inc.*		5,229		85,494
GSE Holding, Inc.*		852		7,038
H.B. Fuller Co.		34,570		1,350,996
Hawkins, Inc.		974		38,911
Innophos Holdings, Inc.		2,299		125,433
Innospec, Inc.		293		12,974
International Flavors & Fragrances, Inc.		8,581		657,905
Intrepid Potash, Inc.		2,694		50,539
KMG Chemicals, Inc.		837		16,271
Koppers Holdings, Inc.		2,196		96,580
Landec Corp.*		666		9,637
LSB Industries, Inc.*		1,160		40,345
Methanex Corp.		20,830		846,323
NewMarket Corp.		926		241,093
Olin Corp.		5,802		146,326
OMNOVA Solutions, Inc.*		4,953		37,990
PolyOne Corp.		66,540		1,624,241
Quaker Chemical Corp.		374		22,073
Rockwood Holdings, Inc.		2,189		143,248
RPM International, Inc.		5,419		171,132
Scotts Miracle-Gro Co., Class A		3,937		170,236
Stepan Co.		1,784		112,570
Valspar Corp.		9,858		613,661
W.R. Grace & Co.*		7,216		559,312
Westlake Chemical Corp.		485		45,348
Zep, Inc.		1,003		15,055
				8,461,490
Construction Materials (0.1%)
Eagle Materials, Inc.		5,183		345,343
Headwaters, Inc.*		7,715		84,094
Martin Marietta Materials, Inc.		2,466		251,581
United States Lime & Minerals, Inc.*		173		9,202
				690,220
Containers & Packaging (0.9%)
AEP Industries, Inc.*		433		31,094
AptarGroup, Inc.		2,362		135,461
Ball Corp.		16,588		789,257
Berry Plastics Group, Inc.*		1,271		24,213
Crown Holdings, Inc.*		26,876		1,118,310
Myers Industries, Inc.		3,588		50,088
Owens-Illinois, Inc.*		12,905		343,918
Packaging Corp. of America		9,530		427,611
Rock-Tenn Co., Class A		14,346		1,331,165
Silgan Holdings, Inc.		4,748		224,343
				4,475,460
Metals & Mining (0.3%)
AK Steel Holding Corp.		2,262		7,487
Allied Nevada Gold Corp.*		9,535		156,946
AMCOL International Corp.		2,502		75,535
Carpenter Technology Corp.		376		18,533
Coeur d’Alene Mines Corp.*		3,906		73,667
Compass Minerals International, Inc.		3,499		276,071
General Moly, Inc.*		1,177		2,601
Globe Specialty Metals, Inc.		482		6,709
Gold Resource Corp.		3,194		41,618
Handy & Harman Ltd.*		505		7,772
Haynes International, Inc.		1,086		60,056
Materion Corp.		202		5,757
Metals USA Holdings Corp.		320		6,608
Midway Gold Corp.*		13,657		16,661
Molycorp, Inc.*		2,583		13,432
Noranda Aluminum Holding Corp.		3,561		15,989
Paramount Gold and Silver Corp.*		13,969		31,151
Royal Gold, Inc.		6,768		480,731
Steel Dynamics, Inc.		4,988		79,160
SunCoke Energy, Inc.*		5,205		84,998
Tahoe Resources, Inc.*		1,937		34,072
U.S. Antimony Corp.*		5,755		9,956
U.S. Silica Holdings, Inc.		1,258		29,664
				1,535,174
Paper & Forest Products (0.4%)
Boise Cascade Co.*		571		19,380
Buckeye Technologies, Inc.		2,421		72,509
Clearwater Paper Corp.*		1,968		103,694
Deltic Timber Corp.		1,149		78,959
International Paper Co.		21,220		988,428
Louisiana-Pacific Corp.*		37,868		817,949
Neenah Paper, Inc.		1,024		31,498
P.H. Glatfelter Co.		777		18,166
Schweitzer-Mauduit International, Inc.		2,442		94,579
Wausau Paper Corp.		4,393		47,356
				2,272,518
Total Materials				17,434,862
Telecommunication Services (0.6%)
Diversified Telecommunication Services (0.3%)
8x8, Inc.*		7,452		51,046
Atlantic Tele-Network, Inc.		944		45,793
Cbeyond, Inc.*		239		1,776
Cincinnati Bell, Inc.*		7,585		24,727
Cogent Communications Group, Inc.		4,957		130,865
Consolidated Communications Holdings, Inc.		2,735		47,999
Fairpoint Communications, Inc.*		1,885		14,081
General Communication, Inc., Class A*		3,940		36,130
HickoryTech Corp.		1,427		14,484
IDT Corp., Class B		1,538		18,548
inContact, Inc.*		3,729		30,168
Iridium Communications, Inc.*		750		4,515
Level 3 Communications, Inc.*		8,826		179,079
Lumos Networks Corp.		1,581		21,312
magicJack VocalTec Ltd.*		1,036		14,504

See Notes to Portfolio of Investments.

103

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
ORBCOMM, Inc.*		1,891	$	9,852
Premiere Global Services, Inc.*		1,241		13,639
Primus Telecommunications Group, Inc.		1,298		14,343
Towerstream Corp.*		6,085		13,569
tw telecom, Inc.*		31,788		800,740
				1,487,170
Wireless Telecommunication Services (0.3%)
Boingo Wireless, Inc.*		1,683		9,290
Crown Castle International Corp.*		10,810		752,809
Leap Wireless International, Inc.*		1,471		8,664
NTELOS Holdings Corp.		1,599		20,483
SBA Communications Corp., Class A*		12,848		925,313
				1,716,559
Total Telecommunication Services				3,203,729
Utilities (0.2%)
Electric Utilities (0.1%)
ITC Holdings Corp.		5,441		485,664
Otter Tail Corp.		228		7,100
				492,764
Gas Utilities (0.0%)
Piedmont Natural Gas Co., Inc.		659		21,668
Questar Corp.		4,275		104,011
South Jersey Industries, Inc.		714		39,691
				165,370
Independent Power Producers & Energy Traders (0.0%)
American DG Energy, Inc.*		2,320		4,872
Atlantic Power Corp.		1,035		5,103
Ormat Technologies, Inc.		539		11,130
				21,105
Water Utilities (0.1%)
American States Water Co.		220		12,665
Aqua America, Inc.		1,684		52,945
Cadiz, Inc.*		1,278		8,639
California Water Service Group		2,473		49,213
Connecticut Water Service, Inc.		741		21,659
SJW Corp.		471		12,482
York Water Co.		1,024		19,251
				176,854
Total Utilities				856,093
Total Common Stocks (78.8%) (Cost $276,477,999)				399,410,482
	Number of Warrants		Value (Note 1)
WARRANTS:
Energy (0.0%)
Oil, Gas & Consumable Fuels (0.0%)
Magnum Hunter Resources Corp., expiring 10/14/13(b)* (Cost $—)		1,376		179
Total Investments (78.8%) (Cost $276,477,999)				399,410,661
Other Assets Less Liabilities (21.2%)				107,520,227
Net Assets (100%)			$	506,930,888

* Non-income producing.

(b) Illiquid Security.

Glossary:

ADR — American Depositary Receipt

See Notes to Portfolio of Investments.

104

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Purchases
NASDAQ 100 E-Mini Index		179		June-13	$	10,003,336	$	10,063,380	$	60,044
Russell 2000 Mini Index		326		June-13		30,090,410		30,934,140		843,730
S&P MidCap 400 E-Mini Index		537		June-13		59,783,197		61,808,700		2,025,503
									$	2,929,277

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) (a)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	74,722,268	$	2,112,554	$	—	$	76,834,822
Consumer Staples		14,160,998		—		—		14,160,998
Energy		22,264,858		—		—		22,264,858
Financials		36,661,951		38,648		—		36,700,599
Health Care		61,216,322		—		—		61,216,322
Industrials		72,913,844		—		—		72,913,844
Information Technology		93,824,355		—		—		93,824,355
Materials		17,434,862		—		—		17,434,862
Telecommunication Services		3,203,729		—		—		3,203,729
Utilities		856,093		—		—		856,093
Futures		2,929,277		—		—		2,929,277
Warrants
Energy		—		179		—		179
Total Assets	$	400,188,557	$	2,151,381	$	—	$	402,339,938
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	400,188,557	$	2,151,381	$	—	$	402,339,938

(a) A security with a market value of $9,042 transferred from Level 1 to Level 2 since the beginning of the period due to inactive trading.

See Notes to Portfolio of Investments.

105

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	52,997,486
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	55,802,781

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	127,025,274
Aggregate gross unrealized depreciation		(7,928,178	)
Net unrealized appreciation	$	119,097,096
Federal income tax cost of investments	$	280,313,565

See Notes to Portfolio of Investments.

106

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PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Consumer Discretionary (9.3%)
Auto Components (0.6%)
American Axle & Manufacturing Holdings, Inc.*		7,337	$	100,150
Cooper Tire & Rubber Co.		948		24,326
Dana Holding Corp.		14,681		261,762
Drew Industries, Inc.		1,161		42,156
Exide Technologies, Inc.*		8,907		24,049
Federal-Mogul Corp.*		1,717		10,354
Fuel Systems Solutions, Inc.*		1,326		21,839
Lear Corp.		11,046		606,094
Modine Manufacturing Co.*		5,253		47,802
Shiloh Industries, Inc.		552		5,945
Spartan Motors, Inc.		3,956		21,006
Standard Motor Products, Inc.		2,192		60,762
Stoneridge, Inc.*		3,163		24,134
Superior Industries International, Inc.		2,599		48,549
Tenneco, Inc.*		45,460		1,787,033
TRW Automotive Holdings Corp.*		11,171		614,405
Visteon Corp.*		5,491		316,831
				4,017,197
Automobiles (0.0%)
Thor Industries, Inc.		4,426		162,833
Winnebago Industries, Inc.*		2,380		49,123
				211,956
Distributors (0.0%)
Core-Mark Holding Co., Inc.		1,088		55,825
VOXX International Corp.*		1,910		20,456
Weyco Group, Inc.		697		17,084
				93,365
Diversified Consumer Services (0.8%)
Ascent Capital Group, Inc., Class A*		1,575		117,243
Bright Horizons Family Solutions, Inc.*		462		15,611
Career Education Corp.*		5,864		13,898
Carriage Services, Inc.		1,743		37,039
Corinthian Colleges, Inc.*		8,589		18,037
DeVry, Inc.		7,279		231,108
Education Management Corp.*		3,028		11,113
Hillenbrand, Inc.		59,970		1,516,042
LifeLock, Inc.*		194		1,868
Lincoln Educational Services Corp.		2,659		15,582
Mac-Gray Corp.		1,163		14,886
Matthews International Corp., Class A		1,614		56,313
National American University Holdings, Inc.		536		2,090
Regis Corp.		6,363		115,743
Service Corp. International		24,128		403,661
Sotheby’s, Inc.		4,908		183,608
Steiner Leisure Ltd.*		48,020		2,322,247
Stewart Enterprises, Inc., Class A		8,459		78,584
Universal Technical Institute, Inc.		815		10,294
				5,164,967
Hotels, Restaurants & Leisure (1.4%)
Ameristar Casinos, Inc.		480		12,590
Biglari Holdings, Inc.*		118		44,036
Bloomin’ Brands, Inc.*		522		9,328
Bluegreen Corp.*		1,620		15,941
Bob Evans Farms, Inc.		2,799		119,293
Boyd Gaming Corp.*		5,583		46,171
Caesars Entertainment Corp.*		455		7,216
Carrols Restaurant Group, Inc.*		521		2,704
Cedar Fair LP		66,600		2,648,682
Choice Hotels International, Inc.		2,707		114,533
Churchill Downs, Inc.		960		67,238
Chuy’s Holdings, Inc.*		182		5,930
Del Frisco’s Restaurant Group, Inc.*		140		2,324
Denny’s Corp.*		2,463		14,212
Einstein Noah Restaurant Group, Inc.		12		178
Fiesta Restaurant Group, Inc.*		191		5,075
Frisch’s Restaurants, Inc.		326		5,848
International Speedway Corp., Class A		3,034		99,151
Isle of Capri Casinos, Inc.*		2,149		13,517
Jack in the Box, Inc.*		989		34,210
Krispy Kreme Doughnuts, Inc.*		6,736		97,268
Life Time Fitness, Inc.*		368		15,743
Luby’s, Inc.*		2,253		16,852
Marcus Corp.		1,892		23,631
Marriott Vacations Worldwide Corp.*		3,003		128,859
Monarch Casino & Resort, Inc.*		1,071		10,421
Morgans Hotel Group Co.*		1,277		7,560
Orient-Express Hotels Ltd., Class A*		10,694		105,443
Penn National Gaming, Inc.*		6,709		365,171
Pinnacle Entertainment, Inc.*		6,100		89,182
Red Lion Hotels Corp.*		1,522		10,821
Red Robin Gourmet Burgers, Inc.*		20,925		954,180
Ruby Tuesday, Inc.*		7,245		53,396
Scientific Games Corp., Class A*		4,916		43,015
Sonic Corp.*		1,184		15,250
Speedway Motorsports, Inc.		1,293		23,261
Vail Resorts, Inc.		2,599		161,970
Wendy’s Co.		500,773		2,839,383
WMS Industries, Inc.*		6,123		154,361
				8,383,944
Household Durables (1.4%)
American Greetings Corp., Class A		3,341		53,790
Bassett Furniture Industries, Inc.		1,230		19,631
Beazer Homes USA, Inc.*		2,743		43,449
Cavco Industries, Inc.*		84		3,996
CSS Industries, Inc.		1,075		27,918
D.R. Horton, Inc.		28,630		695,709
Ethan Allen Interiors, Inc.		371		12,213
Flexsteel Industries, Inc.		481		11,900
Harman International Industries, Inc.		7,801		348,159
Helen of Troy Ltd.*		3,506		134,490
Hooker Furniture Corp.		1,164		18,554
Hovnanian Enterprises, Inc., Class A*		11,667		67,319
Jarden Corp.*		30,022		1,286,443
KB Home		8,628		187,832
La-Z-Boy, Inc.		4,141		78,141
Leggett & Platt, Inc.		32,955		1,113,220
Lennar Corp., Class A		17,984		745,976
Lifetime Brands, Inc.		1,096		12,505
M.D.C. Holdings, Inc.		4,282		156,935
M/I Homes, Inc.*		2,670		65,281
Meritage Homes Corp.*		2,611		122,351
Mohawk Industries, Inc.*		17,626		1,993,853
NACCO Industries, Inc., Class A		624		33,297
NVR, Inc.*		60		64,807
PulteGroup, Inc.*		38,029		769,707
Ryland Group, Inc.		2,213		92,105
Standard Pacific Corp.*		12,778		110,402
Toll Brothers, Inc.*		15,960		546,470
TRI Pointe Homes, Inc.*		1,536		30,950
Universal Electronics, Inc.*		1,686		39,200
				8,886,603

See Notes to Portfolio of Investments.

107

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Internet & Catalog Retail (0.0%)
1-800-FLOWERS.COM, Inc., Class A*		2,927	$	14,547
HomeAway, Inc.*		415		13,488
Kayak Software Corp.*		64		2,557
Shutterfly, Inc.*		2,992		132,157
				162,749
Leisure Equipment & Products (0.3%)
Black Diamond, Inc.*		2,465		22,456
Brunswick Corp.		19,900		680,978
Callaway Golf Co.		126,827		839,595
JAKKS Pacific, Inc.		2,205		23,130
Johnson Outdoors, Inc., Class A*		657		15,663
Marine Products Corp.		540		3,974
Steinway Musical Instruments, Inc.*		793		19,048
				1,604,844
Media (2.3%)
Beasley Broadcasting Group, Inc., Class A		436		2,572
Belo Corp., Class A		6,732		66,176
Cablevision Systems Corp. - New York Group, Class A		19,830		296,657
Carmike Cinemas, Inc.*		1,360		24,643
Central European Media Enterprises Ltd., Class A*		4,031		17,011
Clear Channel Outdoor Holdings, Inc., Class A*		1,688		12,643
Crown Media Holdings, Inc., Class A*		3,389		6,947
Cumulus Media, Inc., Class A*		7,122		24,001
Daily Journal Corp.*		110		12,210
Digital Generation, Inc.*		3,137		20,171
DreamWorks Animation SKG, Inc., Class A*		7,507		142,333
Entercom Communications Corp., Class A*		2,566		19,091
Entravision Communications Corp., Class A		5,451		17,389
EW Scripps Co., Class A*		3,382		40,685
Fisher Communications, Inc.		985		38,651
Gannett Co., Inc.		284,154		6,214,448
Global Sources Ltd.*		1,785		13,495
Harte-Hanks, Inc.		5,050		39,339
Interpublic Group of Cos., Inc.		123,046		1,603,289
John Wiley & Sons, Inc., Class A		2,891		112,633
Journal Communications, Inc., Class A*		4,397		29,548
Lamar Advertising Co., Class A*		1,151		55,950
LIN TV Corp., Class A*		3,450		37,916
Live Nation Entertainment, Inc.*		15,513		191,896
Madison Square Garden Co., Class A*		6,351		365,818
Martha Stewart Living Omnimedia, Inc., Class A*		3,165		8,356
McClatchy Co., Class A*		6,248		18,119
MDC Partners, Inc., Class A		1,781		28,799
Meredith Corp.		4,036		154,417
National CineMedia, Inc.		4,111		64,872
New York Times Co., Class A*		412,431		4,041,824
Nexstar Broadcasting Group, Inc., Class A		982		17,676
Outdoor Channel Holdings, Inc.		1,150		10,258
Reading International, Inc., Class A*		1,869		10,466
Regal Entertainment Group, Class A		5,817		96,969
Rentrak Corp.*		419		9,210
Saga Communications, Inc., Class A		497		22,991
Salem Communications Corp., Class A		1,141		9,048
Scholastic Corp.		2,853		76,032
Shutterstock, Inc.*		566		25,459
Sinclair Broadcast Group, Inc., Class A		5,148		104,196
Valassis Communications, Inc.		1,687		50,391
Washington Post Co., Class B		466		208,302
World Wrestling Entertainment, Inc., Class A		1		9
				14,362,906
Multiline Retail (0.1%)
Bon-Ton Stores, Inc.		1,456		18,928
Dillard’s, Inc., Class A		3,271		256,937
Fred’s, Inc., Class A		4,154		56,827
Saks, Inc.*		11,526		132,203
Tuesday Morning Corp.*		4,683		36,340
				501,235
Specialty Retail (2.1%)
Aaron’s, Inc.		81,703		2,343,242
Abercrombie & Fitch Co., Class A		38,031		1,757,032
American Eagle Outfitters, Inc.		4,978		93,089
Asbury Automotive Group, Inc.*		372		13,649
AutoNation, Inc.*		1,789		78,269
Barnes & Noble, Inc.*		2,941		48,379
bebe stores, Inc.		3,738		15,587
Big 5 Sporting Goods Corp.		1,863		29,081
Brown Shoe Co., Inc.		4,842		77,472
Cabela’s, Inc.*		506		30,755
Chico’s FAS, Inc.		5,562		93,442
Children’s Place Retail Stores, Inc.*		1,662		74,491
Citi Trends, Inc.*		1,577		16,133
Conn’s, Inc.*		1,664		59,738
Destination Maternity Corp.		834		19,516
Destination XL Group, Inc.*		4,592		23,373
Dick’s Sporting Goods, Inc.		19,100		903,430
DSW, Inc., Class A		250		15,950
Finish Line, Inc., Class A		3,465		67,879
Five Below, Inc.*		609		23,075
Foot Locker, Inc.		13,382		458,200
GameStop Corp., Class A		26,230		733,653
Group 1 Automotive, Inc.		2,553		153,359
Guess?, Inc.		6,718		166,808
Haverty Furniture Cos., Inc.		2,092		43,011
hhgregg, Inc.*		1,402		15,492
Jos. A. Bank Clothiers, Inc.*		231		9,217
Kirkland’s, Inc.*		1,639		18,783
Lithia Motors, Inc., Class A		2,410		114,427
MarineMax, Inc.*		2,303		31,298
Men’s Wearhouse, Inc.		4,473		149,488
New York & Co., Inc.*		1,178		4,818
Office Depot, Inc.*		31,594		124,164
OfficeMax, Inc.		9,615		111,630
Orchard Supply Hardware Stores Corp., Class A*		203		804
Penske Automotive Group, Inc.		17,959		599,112
PEP Boys-Manny, Moe & Jack*		5,800		68,382
Perfumania Holdings, Inc.*		551		3,174
RadioShack Corp.		11,299		37,965
Rent-A-Center, Inc.		6,590		243,435
Restoration Hardware Holdings, Inc.*		444		15,540
Sally Beauty Holdings, Inc.*		1,030		30,261
Shoe Carnival, Inc.		1,554		31,764
Signet Jewelers Ltd.		9,467		634,289
Sonic Automotive, Inc., Class A		4,749		105,238

See Notes to Portfolio of Investments.

108

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MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Stage Stores, Inc.		3,392	$	87,785
Staples, Inc.		153,680		2,063,922
Stein Mart, Inc.		3,032		25,408
Systemax, Inc.		1,008		9,979
Tiffany & Co.		7,800		542,412
West Marine, Inc.*		1,771		20,242
Wet Seal, Inc., Class A*		10,229		30,891
Williams-Sonoma, Inc.		4,304		221,742
				12,690,275
Textiles, Apparel & Luxury Goods (0.3%)
Cherokee, Inc.		55		754
Columbia Sportswear Co.		1,345		77,849
Culp, Inc.		960		15,274
Deckers Outdoor Corp.*		1,472		81,976
Delta Apparel, Inc.*		773		12,731
Fifth & Pacific Cos., Inc.*		12,521		236,396
G-III Apparel Group Ltd.*		1,643		65,901
Iconix Brand Group, Inc.*		7,189		185,979
Jones Group, Inc.		8,977		114,187
K-Swiss, Inc., Class A*		3,073		14,566
Maidenform Brands, Inc.*		769		13,481
Movado Group, Inc.		1,847		61,911
Perry Ellis International, Inc.		1,258		22,883
PVH Corp.		5,006		534,691
Quiksilver, Inc.*		14,432		87,602
R.G. Barry Corp.		94		1,259
Skechers U.S.A., Inc., Class A*		4,203		88,893
Unifi, Inc.*		1,554		29,681
				1,646,014
Total Consumer Discretionary				57,726,055
Consumer Staples (4.6%)
Beverages (0.7%)
Beam, Inc.		13,400		851,436
Central European Distribution Corp.*		407,503		136,514
Constellation Brands, Inc., Class A*		16,377		780,200
Craft Brew Alliance, Inc.*		703		5,230
Molson Coors Brewing Co., Class B		45,755		2,238,792
				4,012,172
Food & Staples Retailing (0.5%)
Andersons, Inc.		2,064		110,465
Arden Group, Inc., Class A		32		3,235
Harris Teeter Supermarkets, Inc.		64,114		2,738,309
Ingles Markets, Inc., Class A		1,388		29,814
Nash Finch Co.		1,339		26,218
Natural Grocers by Vitamin Cottage, Inc.*		476		10,734
Pantry, Inc.*		2,241		27,945
Rite Aid Corp.*		66,546		126,437
Spartan Stores, Inc.		2,451		43,015
SUPERVALU, Inc.		5,876		29,615
Susser Holdings Corp.*		744		38,026
Village Super Market, Inc., Class A		937		31,568
Weis Markets, Inc.		1,242		50,549
				3,265,930
Food Products (2.5%)
Alico, Inc.		230		10,637
Annie’s, Inc.*		173		6,619
B&G Foods, Inc.		36,820		1,122,642
Boulder Brands, Inc.*		6,662		59,825
Bunge Ltd.		16,400		1,210,812
Cal-Maine Foods, Inc.		231		9,831
Chiquita Brands International, Inc.*		5,041		39,118
ConAgra Foods, Inc.		121,065		4,335,338
Darling International, Inc.*		9,183		164,927
Dean Foods Co.*		2,867		51,979
Diamond Foods, Inc.*		2,383		40,177
Dole Food Co., Inc.*		4,070		44,363
Farmer Bros Co.*		701		10,305
Flowers Foods, Inc.		29,165		960,695
Fresh Del Monte Produce, Inc.		4,192		113,100
Green Mountain Coffee Roasters, Inc.*		2,362		134,067
Griffin Land & Nurseries, Inc.		284		8,534
Ingredion, Inc.		6,671		482,447
John B. Sanfilippo & Son, Inc.		889		17,762
Omega Protein Corp.*		2,088		22,446
Pilgrim’s Pride Corp.*		1,341		12,324
Post Holdings, Inc.*		135,858		5,832,384
Seaboard Corp.		35		98,000
Seneca Foods Corp., Class A*		907		29,949
Smithfield Foods, Inc.*		15,374		407,103
Snyders-Lance, Inc.		561		14,171
Tootsie Roll Industries, Inc.		145		4,344
TreeHouse Foods, Inc.*		1,288		83,913
WhiteWave Foods Co., Class A*		1,052		17,958
				15,345,770
Household Products (0.9%)
Central Garden & Pet Co., Class A*		3,749		30,817
Energizer Holdings, Inc.		39,161		3,905,526
Harbinger Group, Inc.*		4,473		36,947
Oil-Dri Corp. of America		571		15,548
Orchids Paper Products Co.		315		7,349
Spectrum Brands Holdings, Inc.		24,535		1,388,436
				5,384,623
Personal Products (0.0%)
Elizabeth Arden, Inc.*		423		17,026
Inter Parfums, Inc.		486		11,873
Nature’s Sunshine Products, Inc.		481		7,331
Nutraceutical International Corp.		981		17,020
Prestige Brands Holdings, Inc.*		1,899		48,785
Revlon, Inc., Class A*		1,238		27,682
				129,717
Tobacco (0.0%)
Alliance One International, Inc.*		9,825		38,220
Universal Corp.		2,547		142,734
Vector Group Ltd.		1,552		25,018
				205,972
Total Consumer Staples				28,344,184
Energy (6.2%)
Energy Equipment & Services (1.5%)
Atwood Oceanics, Inc.*		4,325		227,236
Basic Energy Services, Inc.*		3,517		48,077
Bolt Technology Corp.		953		16,639
Bristow Group, Inc.		3,979		262,375
C&J Energy Services, Inc.*		3,516		80,516
Cal Dive International, Inc.*		10,839		19,510
Dawson Geophysical Co.*		892		26,760
Era Group, Inc.*		1,283		26,943
Exterran Holdings, Inc.*		7,181		193,887
Forbes Energy Services Ltd.*		1,620		5,962
Gulf Island Fabrication, Inc.		1,606		33,822
Gulfmark Offshore, Inc., Class A		21,104		822,212
Heckmann Corp.*		14,660		62,891
Helix Energy Solutions Group, Inc.*		54,321		1,242,865
Helmerich & Payne, Inc.		20,879		1,267,355
Hercules Offshore, Inc.*		17,513		129,946

See Notes to Portfolio of Investments.

109

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Hornbeck Offshore Services, Inc.*		3,944	$	183,238
Key Energy Services, Inc.*		16,837		136,043
Matrix Service Co.*		2,366		35,253
McDermott International, Inc.*		26,311		289,158
Mitcham Industries, Inc.*		535		9,052
Nabors Industries Ltd.		32,199		522,268
Natural Gas Services Group, Inc.*		1,456		28,043
Newpark Resources, Inc.*		10,084		93,580
Oil States International, Inc.*		807		65,827
Parker Drilling Co.*		12,856		55,024
Patterson-UTI Energy, Inc.		16,189		385,946
PHI, Inc. (Non-Voting)*		1,366		46,731
Pioneer Energy Services Corp.*		5,572		45,969
Rowan Cos., plc, Class A*		13,798		487,897
RPC, Inc.		854		12,955
SEACOR Holdings, Inc.		1,196		88,121
Solar Cayman Ltd.(b)*§†		141,300		14,130
Superior Energy Services, Inc.*		54,554		1,416,767
Tesco Corp.*		3,417		45,754
TETRA Technologies, Inc.*		8,553		87,754
Tidewater, Inc.		5,657		285,679
Unit Corp.*		5,387		245,378
Vantage Drilling Co.*		21,081		36,892
Willbros Group, Inc.*		3,377		33,162
				9,117,617
Oil, Gas & Consumable Fuels (4.7%)
Adams Resources & Energy, Inc.		281		14,331
Alon USA Energy, Inc.		393		7,487
Alpha Natural Resources, Inc.*		24,555		201,597
Amyris, Inc.*		3,376		10,398
Arch Coal, Inc.		23,661		128,479
Bill Barrett Corp.*		5,361		108,667
Bonanza Creek Energy, Inc.*		952		36,814
BPZ Resources, Inc.*		8,434		19,145
Callon Petroleum Co.*		4,446		16,450
Carrizo Oil & Gas, Inc.*		632		16,287
Cheniere Energy, Inc.*		8,279		231,812
Cimarex Energy Co.		35,025		2,642,286
Clayton Williams Energy, Inc.*		608		26,588
Cloud Peak Energy, Inc.*		6,813		127,948
Comstock Resources, Inc.*		5,332		86,645
Contango Oil & Gas Co.		128		5,132
Crimson Exploration, Inc.*		2,613		7,473
Crosstex Energy, Inc.		551		10,612
CVR Energy, Inc.		674		34,792
Delek U.S. Holdings, Inc.		2,004		79,078
Denbury Resources, Inc.*		85,705		1,598,398
Diamondback Energy, Inc.*		818		21,955
Emerald Oil, Inc.*		1,611		11,341
Endeavour International Corp.*		313		923
Energen Corp.		31,414		1,633,842
Energy XXI Bermuda Ltd.		2,434		66,253
EPL Oil & Gas, Inc.*		3,068		82,253
EQT Corp.		14,500		982,375
EXCO Resources, Inc.		13,647		97,303
Forest Oil Corp.*		13,059		68,690
Frontline Ltd.*		5,737		13,425
GasLog Ltd.		1,899		24,421
Gastar Exploration Ltd.*		6,938		12,211
Gevo, Inc.*		1,194		2,675
Green Plains Renewable Energy, Inc.*		2,837		32,455
Gulfport Energy Corp.*		5,652		259,031
Halcon Resources Corp.*		1,572		12,246
Hallador Energy Co.		647		4,464
Harvest Natural Resources, Inc.*		4,025		14,128
HollyFrontier Corp.		23,154		1,191,273
Knightsbridge Tankers Ltd.		2,851		23,378
Laredo Petroleum Holdings, Inc.*		199		3,640
Magnum Hunter Resources Corp.*		10,880		43,629
Matador Resources Co.*		307		2,720
McMoRan Exploration Co.*		11,338		185,376
Midstates Petroleum Co., Inc.*		1,515		12,953
Miller Energy Resources, Inc.*		3,264		12,109
Newfield Exploration Co.*		14,988		336,031
Noble Energy, Inc.		38,405		4,441,922
Nordic American Tankers Ltd.		5,988		69,161
PDC Energy, Inc.*		3,318		164,473
Pengrowth Energy Corp.		818,000		4,171,128
Penn Virginia Corp.		6,229		25,165
PetroQuest Energy, Inc.*		6,411		28,465
Plains Exploration & Production Co.*		14,298		678,726
QEP Resources, Inc.		105,000		3,343,200
Quicksilver Resources, Inc.*		13,287		29,896
Range Resources Corp.		10,300		834,712
Renewable Energy Group, Inc.*		942		7,244
Resolute Energy Corp.*		5,486		63,144
REX American Resources Corp.*		576		12,741
Rex Energy Corp.*		4,897		80,703
SandRidge Energy, Inc.*		54,503		287,231
Scorpio Tankers, Inc.*		11,923		106,353
SemGroup Corp., Class A*		4,810		248,773
Ship Finance International Ltd.		5,431		95,803
SM Energy Co.		1,180		69,880
Southwestern Energy Co.*		13,550		504,873
Stone Energy Corp.*		5,537		120,430
Swift Energy Co.*		4,731		70,066
Synergy Resources Corp.*		4,218		28,935
Teekay Corp.		4,028		144,847
Teekay Tankers Ltd., Class A		7,102		20,241
Tesoro Corp.		15,682		918,181
Triangle Petroleum Corp.*		5,006		33,040
Ultra Petroleum Corp.*		17,057		342,846
Uranium Energy Corp.*		5,079		11,174
W&T Offshore, Inc.		3,644		51,745
Warren Resources, Inc.*		6,363		20,425
Western Refining, Inc.		2,742		97,094
Westmoreland Coal Co.*		1,233		14,007
Whiting Petroleum Corp.*		15,215		773,531
World Fuel Services Corp.		5,554		220,605
WPX Energy, Inc.*		22,027		352,873
ZaZa Energy Corp.*		1,479		2,677
				29,047,829
Total Energy				38,165,446
Financials (24.8%)
Capital Markets (1.5%)
Affiliated Managers Group, Inc.*		1,453		223,137
American Capital Ltd.*		35,020		511,117
Apollo Investment Corp.		22,632		189,204
Ares Capital Corp.		89,326		1,616,801
Arlington Asset Investment Corp., Class A		1,580		40,780
Artio Global Investors, Inc.		3,404		9,259
BlackRock Kelso Capital Corp.		8,351		83,510
Calamos Asset Management, Inc., Class A		2,247		26,447
Capital Southwest Corp.		328		37,720
CIFC Corp.*		740		6,090
Cowen Group, Inc., Class A*		9,819		27,690
Duff & Phelps Corp., Class A		2,538		39,364

See Notes to Portfolio of Investments.

110

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MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
E*TRADE Financial Corp.*		31,533	$	337,718
Evercore Partners, Inc., Class A		2,945		122,512
FBR & Co.*		967		18,305
Federated Investors, Inc., Class B		1,738		41,138
Fidus Investment Corp.		1,482		28,380
Fifth Street Finance Corp.		11,832		130,389
FXCM, Inc., Class A		2,533		34,651
GFI Group, Inc.		7,794		26,032
Gladstone Capital Corp.		2,488		22,890
Gladstone Investment Corp.		2,904		21,228
Golub Capital BDC, Inc.		2,013		33,235
GSV Capital Corp.*		2,191		18,098
Harris & Harris Group, Inc.*		3,716		13,378
Hercules Technology Growth Capital, Inc.		6,758		82,785
HFF, Inc., Class A		551		10,981
Horizon Technology Finance Corp.		849		12,404
ICG Group, Inc.*		3,888		48,522
INTL FCStone, Inc.*		1,435		24,983
Investment Technology Group, Inc.*		4,414		48,731
Janus Capital Group, Inc.		21,120		198,528
JMP Group, Inc.		1,778		12,286
KCAP Financial, Inc.		2,908		31,319
Knight Capital Group, Inc., Class A*		19,758		73,500
Legg Mason, Inc.		14,572		468,490
LPL Financial Holdings, Inc.		684		22,052
Main Street Capital Corp.		3,101		99,511
Manning & Napier, Inc.		1,522		25,174
MCG Capital Corp.		7,961		38,054
Medallion Financial Corp.		2,062		27,260
Medley Capital Corp.		3,196		50,657
MVC Capital, Inc.		2,705		34,705
New Mountain Finance Corp.		2,742		40,088
NGP Capital Resources Co.		2,550		18,130
OFS Capital Corp.		451		6,314
Oppenheimer Holdings, Inc., Class A		1,071		20,852
PennantPark Investment Corp.		7,304		82,462
Piper Jaffray Cos., Inc.*		1,652		56,664
Prospect Capital Corp.		22,305		243,348
Pzena Investment Management, Inc., Class A		474		3,081
Raymond James Financial, Inc.		45,529		2,098,887
Safeguard Scientifics, Inc.*		2,362		37,320
Solar Capital Ltd.		5,003		117,520
Solar Senior Capital Ltd.		1,203		23,098
Stellus Capital Investment Corp.		732		10,848
Stifel Financial Corp.*		3,854		133,618
SWS Group, Inc.*		3,064		18,537
TCP Capital Corp.		645		10,294
THL Credit, Inc.		1,644		24,627
TICC Capital Corp.		5,765		57,304
Triangle Capital Corp.		3,122		87,385
Virtus Investment Partners, Inc.*		322		59,982
Waddell & Reed Financial, Inc., Class A		23,700		1,037,586
Walter Investment Management Corp.*		3,979		148,218
WhiteHorse Finance, Inc.		513		8,121
				9,313,299
Commercial Banks (6.2%)
1st Source Corp.		1,689		40,029
1st United Bancorp, Inc./Florida		3,392		21,912
Access National Corp.		801		13,136
American National Bankshares, Inc.		862		18,585
Ameris Bancorp*		2,707		38,845
Ames National Corp.		899		18,753
Arrow Financial Corp.		1,085		26,734
Associated Banc-Corp.		19,274		292,772
BancFirst Corp.		738		30,775
Banco Latinoamericano de Comercio Exterior S.A., Class E		3,234		80,009
Bancorp, Inc./Delaware*		3,483		48,240
BancorpSouth, Inc.		10,518		171,443
Bank of Hawaii Corp.		5,125		260,401
Bank of Kentucky Financial Corp.		691		18,954
Bank of Marin Bancorp/California		547		21,929
Bank of the Ozarks, Inc.		913		40,492
BankUnited, Inc.		4,005		102,608
Banner Corp.		2,097		66,748
Bar Harbor Bankshares		433		15,826
BBCN Bancorp, Inc.		8,640		112,838
Berkshire Bancorp, Inc./New York		458		3,824
BOK Financial Corp.		13,604		847,529
Boston Private Financial Holdings, Inc.		8,578		84,751
Bridge Bancorp, Inc.		957		20,585
Bridge Capital Holdings*		795		12,116
Bryn Mawr Bank Corp.		1,293		30,101
BSB Bancorp, Inc./Massachusetts*		931		12,857
C&F Financial Corp.		358		14,660
Camden National Corp.		864		28,581
Capital Bank Financial Corp., Class A*		1,001		17,177
Capital City Bank Group, Inc.*		1,349		16,660
CapitalSource, Inc.		130,373		1,254,188
Cardinal Financial Corp.		3,301		60,012
Cascade Bancorp*		582		3,934
Cathay General Bancorp		8,793		176,915
Center Bancorp, Inc.		1,119		13,909
Centerstate Banks, Inc.		3,310		28,400
Central Pacific Financial Corp.*		2,437		38,261
Century Bancorp, Inc./Massachusetts, Class A		363		12,309
Chemical Financial Corp.		3,127		82,490
CIT Group, Inc.*		19,700		856,556
Citizens & Northern Corp.		1,354		26,403
Citizens Republic Bancorp, Inc.*		4,426		99,806
City Holding Co.		1,678		66,768
City National Corp./California		17,573		1,035,225
CNB Financial Corp./Pennsylvania		1,475		25,149
CoBiz Financial, Inc.		3,783		30,567
Columbia Banking System, Inc.		4,507		99,064
Comerica, Inc.		44,600		1,603,370
Commerce Bancshares, Inc./Missouri		8,752		357,344
Community Bank System, Inc.		4,432		131,320
Community Trust Bancorp, Inc.		1,593		54,210
ConnectOne Bancorp, Inc.*		124		3,875
Crescent Financial Bancshares, Inc.* .		335		1,320
Cullen/Frost Bankers, Inc.		5,936		371,178
CVB Financial Corp.		9,830		110,784
Eagle Bancorp, Inc.*		2,010		43,999
East West Bancorp, Inc.		65,142		1,672,195
Enterprise Bancorp, Inc./Massachusetts		694		11,763
Enterprise Financial Services Corp.		2,021		28,981
F.N.B. Corp./Pennsylvania		15,618		188,978
Farmers National Banc Corp.		2,043		12,891
Fidelity Southern Corp.*		1,097		12,615
Financial Institutions, Inc.		1,520		30,339
First Bancorp, Inc./Maine		1,053		18,965

See Notes to Portfolio of Investments.

111

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
First Bancorp/North Carolina		1,816	$	24,498
First BanCorp/Puerto Rico*		7,833		48,800
First Busey Corp.		8,423		38,493
First California Financial Group, Inc.*		2,552		21,743
First Citizens BancShares, Inc./North Carolina, Class A		523		95,552
First Commonwealth Financial Corp.		10,704		79,852
First Community Bancshares, Inc./Virginia		1,884		29,861
First Connecticut Bancorp, Inc./Connecticut		2,008		29,578
First Financial Bancorp		6,670		107,053
First Financial Bankshares, Inc.		3,521		171,121
First Financial Corp./Indiana		1,260		39,677
First Horizon National Corp.		28,023		299,286
First Interstate Bancsystem, Inc.		1,881		35,382
First Merchants Corp.		3,138		48,545
First Midwest Bancorp, Inc./Illinois		8,231		109,308
First Niagara Financial Group, Inc.		222,475		1,971,128
First of Long Island Corp.		735		21,793
First Republic Bank/California		41,030		1,584,579
FirstMerit Corp.		77,986		1,289,109
FNB United Corp.*		262		2,557
Fulton Financial Corp.		22,416		262,267
German American Bancorp, Inc.		1,411		32,467
Glacier Bancorp, Inc.		8,009		152,011
Great Southern Bancorp, Inc.		1,136		27,707
Guaranty Bancorp*		8,362		17,560
Hancock Holding Co.		8,471		261,923
Hanmi Financial Corp.*		3,572		57,152
Heartland Financial USA, Inc.		1,683		42,529
Heritage Commerce Corp.*		2,485		16,724
Heritage Financial Corp./Washington		1,724		24,998
Heritage Oaks Bancorp*		2,220		12,654
Home BancShares, Inc./Arkansas		2,462		92,744
HomeTrust Bancshares, Inc.*		2,377		37,557
Horizon Bancorp/Indiana		618		12,490
Hudson Valley Holding Corp.		1,751		26,107
Huntington Bancshares, Inc./Ohio		95,936		708,967
IBERIABANK Corp.		3,281		164,116
Independent Bank Corp./Massachusetts		2,470		80,497
International Bancshares Corp.		5,904		122,803
Investors Bancorp, Inc.		4,077		76,566
KeyCorp		141,685		1,411,183
Lakeland Bancorp, Inc.		3,030		29,845
Lakeland Financial Corp.		1,860		49,643
MainSource Financial Group, Inc.		2,280		32,011
MB Financial, Inc.		6,018		145,455
Mercantile Bank Corp.		960		16,042
Merchants Bancshares, Inc.		576		17,358
Metro Bancorp, Inc.*		1,561		25,819
MetroCorp Bancshares, Inc.*		1,785		18,011
Middleburg Financial Corp.		579		11,238
MidSouth Bancorp, Inc.		912		14,829
MidWestOne Financial Group, Inc.		753		17,929
National Bank Holdings Corp., Class A		668		12,224
National Bankshares, Inc./Virginia		738		25,778
National Penn Bancshares, Inc.		121,190		1,295,521
NBT Bancorp, Inc.		4,862		107,693
Northrim BanCorp, Inc.		704		15,819
Old National Bancorp/Indiana		11,100		152,625
OmniAmerican Bancorp, Inc.*		1,274		32,207
Oriental Financial Group, Inc.		5,089		78,930
Pacific Continental Corp.		1,974		22,050
Pacific Mercantile Bancorp*		1,162		6,798
PacWest Bancorp		3,433		99,935
Park National Corp.		1,299		90,657
Park Sterling Corp.*		4,636		26,147
Peapack-Gladstone Financial Corp.		1,004		14,970
Penns Woods Bancorp, Inc.		410		16,798
Peoples Bancorp, Inc./Ohio		1,254		28,077
Pinnacle Financial Partners, Inc.*		3,773		88,137
Popular, Inc.*		206,546		5,702,735
Preferred Bank/California*		1,311		20,688
PrivateBancorp, Inc.		7,088		134,034
Prosperity Bancshares, Inc.		5,305		251,404
Renasant Corp.		2,863		64,074
Republic Bancorp, Inc./Kentucky, Class A		1,102		24,949
S&T Bancorp, Inc.		3,242		60,107
Sandy Spring Bancorp, Inc.		2,645		53,164
SCBT Financial Corp.		1,786		90,014
Seacoast Banking Corp. of Florida*		8,628		18,033
Sierra Bancorp		1,407		18,502
Signature Bank/New York*		23,483		1,849,521
Simmons First National Corp., Class A		1,952		49,425
Southside Bancshares, Inc.		1,992		41,852
Southwest Bancorp, Inc./Oklahoma* .		2,138		26,853
State Bank Financial Corp.		3,421		56,002
StellarOne Corp.		2,589		41,812
Sterling Bancorp/New York		3,502		35,580
Sterling Financial Corp./Washington .		2,912		63,161
Suffolk Bancorp*		1,187		16,903
Sun Bancorp, Inc./New Jersey*		4,751		16,201
SunTrust Banks, Inc.		17,880		515,123
Susquehanna Bancshares, Inc.		20,828		258,892
SVB Financial Group*		4,923		349,238
SY Bancorp, Inc.		1,369		30,802
Synovus Financial Corp.		87,127		241,342
Taylor Capital Group, Inc.*		1,848		29,550
TCF Financial Corp.		18,016		269,519
Texas Capital Bancshares, Inc.*		573		23,178
Tompkins Financial Corp.		1,145		48,411
TowneBank/Virginia		3,010		45,060
Trico Bancshares		1,805		30,865
Trustmark Corp.		7,335		183,448
UMB Financial Corp.		3,623		177,781
Umpqua Holdings Corp.		12,425		164,756
Union First Market Bankshares Corp.		2,284		44,675
United Bankshares, Inc./West Virginia		4,678		124,482
United Community Banks, Inc./Georgia*		4,732		53,661
Univest Corp. of Pennsylvania		1,880		32,750
Valley National Bancorp		22,166		226,980
Virginia Commerce Bancorp, Inc.*		3,084		43,330
Washington Banking Co.		1,686		23,503
Washington Trust Bancorp, Inc.		1,633		44,712
Webster Financial Corp.		8,049		195,269
WesBanco, Inc.		2,663		63,779
West Bancorp, Inc.		1,860		20,646
West Coast Bancorp/Oregon		2,196		53,319
Westamerica Bancorp		1,430		64,822
Western Alliance Bancorp*		56,484		781,739
Wilshire Bancorp, Inc.*		7,020		47,596
Wintrust Financial Corp.		17,325		641,718
Zions Bancorp		56,116		1,402,339
				38,143,735

See Notes to Portfolio of Investments.

112

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Consumer Finance (0.0%)
Asset Acceptance Capital Corp.*		1,765	$	11,896
Asta Funding, Inc.		1,202		11,539
Cash America International, Inc.		1,900		99,693
DFC Global Corp.*		1,103		18,354
Encore Capital Group, Inc.*		522		15,712
EZCORP, Inc., Class A*		1,710		36,423
First Marblehead Corp.*		7,162		7,234
Nelnet, Inc., Class A		2,651		89,604
Nicholas Financial, Inc.		1,007		14,803
				305,258
Diversified Financial Services (0.1%)
California First National Bancorp		157		2,715
CBOE Holdings, Inc.		1,312		48,465
Gain Capital Holdings, Inc.		1,650		7,359
Marlin Business Services Corp.		904		20,964
MicroFinancial, Inc.		568		4,788
NASDAQ OMX Group, Inc.		12,908		416,928
NewStar Financial, Inc.*		2,997		39,650
PHH Corp.*		6,302		138,392
PICO Holdings, Inc.*		2,475		54,945
Resource America, Inc., Class A		1,255		12,500
				746,706
Insurance (8.6%)
Alleghany Corp.*		6,729		2,664,146
Allied World Assurance Co. Holdings AG		1,986		184,142
Alterra Capital Holdings Ltd.		56,011		1,764,347
American Equity Investment Life Holding Co.		61,752		919,487
American Financial Group, Inc./Ohio		8,814		417,607
American National Insurance Co.		789		68,540
American Safety Insurance Holdings Ltd.*		837		20,892
AMERISAFE, Inc.		2,076		73,781
Amtrust Financial Services, Inc.		2,534		87,803
Arch Capital Group Ltd.*		40,504		2,129,295
Argo Group International Holdings Ltd.		2,839		117,478
Aspen Insurance Holdings Ltd.		7,973		307,598
Assurant, Inc.		64,023		2,881,675
Assured Guaranty Ltd.		169,283		3,488,923
Axis Capital Holdings Ltd.		11,531		479,920
Baldwin & Lyons, Inc., Class B		976		23,219
Brown & Brown, Inc.		41,369		1,325,463
Citizens, Inc./Texas*		4,356		36,547
CNO Financial Group, Inc.		22,298		255,312
Crawford & Co., Class B		2,859		21,700
Donegal Group, Inc., Class A		771		11,773
Eastern Insurance Holdings, Inc.		688		12,907
EMC Insurance Group, Inc.		522		13,744
Employers Holdings, Inc.		2,876		67,442
Endurance Specialty Holdings Ltd.		4,322		206,635
Enstar Group Ltd.*		932		115,838
Everest Reinsurance Group Ltd.		5,884		764,096
FBL Financial Group, Inc., Class A		1,005		39,054
Fidelity National Financial, Inc., Class A		24,775		625,073
First American Financial Corp.		244,736		6,257,900
Fortegra Financial Corp.*		805		7,052
Genworth Financial, Inc., Class A*		54,495		544,950
Global Indemnity plc*		1,054		24,453
Greenlight Capital Reinsurance Ltd., Class A*		2,208		53,986
Hallmark Financial Services*		1,478		13,302
Hanover Insurance Group, Inc.		2,722		135,229
Hartford Financial Services Group, Inc.		155,635		4,015,383
HCC Insurance Holdings, Inc.		60,845		2,557,315
Health Insurance Innovations, Inc., Class A*		372		5,613
Hilltop Holdings, Inc.*		4,523		61,015
Homeowners Choice, Inc.		750		20,438
Horace Mann Educators Corp.		4,404		91,823
Independence Holding Co.		998		10,160
Infinity Property & Casualty Corp.		1,263		70,981
Investors Title Co.		126		8,703
Kansas City Life Insurance Co.		448		17,530
Kemper Corp.		5,417		176,648
Maiden Holdings Ltd.		5,708		60,448
Markel Corp.*		1,066		536,731
MBIA, Inc.*		336,861		3,459,562
Meadowbrook Insurance Group, Inc.		5,337		37,626
Mercury General Corp.		3,020		114,549
Montpelier Reinsurance Holdings Ltd.		4,655		121,263
National Financial Partners Corp.*		4,508		101,114
National Interstate Corp.		706		21,166
National Western Life Insurance Co., Class A		232		40,832
Navigators Group, Inc.*		590		34,663
Old Republic International Corp.		360,802		4,585,793
OneBeacon Insurance Group Ltd., Class A		2,611		35,301
PartnerReinsurance Ltd.		9,100		847,301
Phoenix Cos., Inc.*		642		19,754
Platinum Underwriters Holdings Ltd.		3,638		203,037
Primerica, Inc.		4,973		163,015
ProAssurance Corp.		6,824		322,980
Protective Life Corp.		8,995		322,021
Reinsurance Group of America, Inc.		45,728		2,728,590
RenaissanceReinsurance Holdings Ltd.		10,643		979,050
RLI Corp.		2,372		170,428
Safety Insurance Group, Inc.		1,435		70,530
Selective Insurance Group, Inc.		31,098		746,663
StanCorp Financial Group, Inc.		4,912		210,037
State Auto Financial Corp.		1,384		24,109
Stewart Information Services Corp.		2,192		55,830
Symetra Financial Corp.		8,575		114,991
Tower Group International Ltd.		2,083		38,431
United Fire Group, Inc.		2,276		57,970
Universal Insurance Holdings, Inc.		1,670		8,100
Validus Holdings Ltd.		9,877		369,103
W. R. Berkley Corp.		12,305		545,973
White Mountains Insurance Group Ltd.		624		353,883
XL Group plc		93,200		2,823,960
				53,521,722
Real Estate Investment Trusts (REITs) (5.9%)
AG Mortgage Investment Trust, Inc. (REIT)		3,260		83,032
Agree Realty Corp. (REIT)		1,585		47,709
Alexandria Real Estate Equities, Inc. (REIT)		6,941		492,672
American Assets Trust, Inc. (REIT) .		3,830		122,598
American Campus Communities, Inc. (REIT)		26,712		1,211,122
American Capital Mortgage Investment Corp. (REIT)		7,118		184,000

See Notes to Portfolio of Investments.

113

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MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
AmREIT, Inc. (REIT), Class B		302	$	5,877
Anworth Mortgage Asset Corp. (REIT)		16,473		104,274
Apartment Investment & Management Co. (REIT), Class A		4,612		141,404
Apollo Commercial Real Estate Finance, Inc. (REIT)		3,761		66,156
Apollo Residential Mortgage, Inc. (REIT)		3,211		71,573
Ares Commercial Real Estate Corp. (REIT)		869		14,704
ARMOUR Residential REIT, Inc. (REIT)		42,148		275,226
Ashford Hospitality Trust, Inc. (REIT)		6,093		75,310
Associated Estates Realty Corp. (REIT)		3,128		58,306
BioMed Realty Trust, Inc. (REIT)		49,206		1,062,850
Brandywine Realty Trust (REIT)		16,251		241,327
BRE Properties, Inc. (REIT)		6,172		300,453
Camden Property Trust (REIT)		2,278		156,453
Campus Crest Communities, Inc. (REIT)		7,076		98,356
CapLease, Inc. (REIT)		8,194		52,196
Capstead Mortgage Corp. (REIT)		11,563		148,238
CBL & Associates Properties, Inc. (REIT)		16,557		390,745
Cedar Realty Trust, Inc. (REIT)		6,812		41,621
Chatham Lodging Trust (REIT)		1,973		34,745
Chesapeake Lodging Trust (REIT)		5,463		125,321
Chimera Investment Corp. (REIT)		114,358		364,802
Colonial Properties Trust (REIT)		9,886		223,523
Colony Financial, Inc. (REIT)		7,257		161,105
CommonWealth REIT (REIT)		13,182		295,804
Coresite Realty Corp. (REIT)		1,171		40,962
Corporate Office Properties Trust/Maryland (REIT)		9,050		241,454
Corrections Corp. of America (REIT)		51,362		2,006,713
Cousins Properties, Inc. (REIT)		530,585		5,671,954
CreXus Investment Corp. (REIT)		7,971		103,782
CubeSmart (REIT)		14,938		236,020
CyrusOne, Inc. (REIT)		1,649		37,663
CYS Investments, Inc. (REIT)		20,287		238,169
DCT Industrial Trust, Inc. (REIT)		30,555		226,107
DDR Corp. (REIT)		26,468		461,073
DiamondRock Hospitality Co. (REIT)		21,074		196,199
Digital Realty Trust, Inc. (REIT)		11,300		756,083
Douglas Emmett, Inc. (REIT)		15,591		388,684
Duke Realty Corp. (REIT)		35,803		607,935
DuPont Fabros Technology, Inc. (REIT)		3,735		90,648
Dynex Capital, Inc. (REIT)		6,731		71,887
EastGroup Properties, Inc. (REIT)		286		16,645
Education Realty Trust, Inc. (REIT)		12,689		133,615
EPR Properties (REIT)		5,386		280,341
Equity Lifestyle Properties, Inc. (REIT)		11,450		879,360
Equity One, Inc. (REIT)		6,363		152,521
Excel Trust, Inc. (REIT)		5,004		68,305
Extra Space Storage, Inc. (REIT)		4,537		178,168
Federal Realty Investment Trust (REIT)		1,585		171,243
FelCor Lodging Trust, Inc. (REIT)*		5,780		34,391
First Industrial Realty Trust, Inc. (REIT)		11,922		204,224
First Potomac Realty Trust (REIT)		5,914		87,705
Franklin Street Properties Corp. (REIT)		8,427		123,203
GEO Group, Inc. (REIT)		7,933		298,439
Getty Realty Corp. (REIT)		2,959		59,801
Gladstone Commercial Corp. (REIT)		1,445		28,134
Glimcher Realty Trust (REIT)		1,736		20,138
Government Properties Income Trust (REIT)		5,102		131,274
Gramercy Capital Corp./New York (REIT)*		5,387		28,066
Gyrodyne Co. of America, Inc. (REIT)		18		1,323
Hatteras Financial Corp. (REIT)		11,317		310,425
Healthcare Realty Trust, Inc. (REIT)		9,861		279,954
Hersha Hospitality Trust (REIT)		19,762		115,410
Highwoods Properties, Inc. (REIT)		1,680		66,478
Home Properties, Inc. (REIT)		2,666		169,078
Hospitality Properties Trust (REIT)		15,574		427,351
Hudson Pacific Properties, Inc. (REIT)		4,840		105,270
Inland Real Estate Corp. (REIT)		5,106		51,520
Invesco Mortgage Capital, Inc. (REIT)		15,388		329,149
Investors Real Estate Trust (REIT)		10,434		102,984
iStar Financial, Inc. (REIT)*		209,693		2,283,557
JAVELIN Mortgage Investment Corp. (REIT)		674		13,244
Kilroy Realty Corp. (REIT)		7,751		406,152
Kite Realty Group Trust (REIT)		7,226		48,703
LaSalle Hotel Properties (REIT)		10,698		271,515
Lexington Realty Trust (REIT)		17,035		201,013
Liberty Property Trust (REIT)		35,175		1,398,206
LTC Properties, Inc. (REIT)		2,780		113,229
Mack-Cali Realty Corp. (REIT)		9,898		283,182
Medical Properties Trust, Inc. (REIT)		16,891		270,932
MFA Financial, Inc. (REIT)		40,836		380,592
Mid-America Apartment Communities, Inc. (REIT)		288		19,889
Monmouth Real Estate Investment Corp. (REIT), Class A		2,805		31,276
National Retail Properties, Inc. (REIT)		12,977		469,378
New York Mortgage Trust, Inc. (REIT)		5,814		43,838
NorthStar Realty Finance Corp. (REIT)		21,742		206,114
One Liberty Properties, Inc. (REIT)		1,404		30,495
Parkway Properties, Inc./Maryland (REIT)		2,966		55,019
Pebblebrook Hotel Trust (REIT)		6,767		174,521
Pennsylvania Real Estate Investment Trust (REIT)		6,261		121,401
PennyMac Mortgage Investment Trust (REIT)		6,681		172,971
Piedmont Office Realty Trust, Inc. (REIT), Class A		19,363		379,321
Post Properties, Inc. (REIT)		3,579		168,571
Potlatch Corp. (REIT)		1,791		82,135
PS Business Parks, Inc. (REIT)		423		33,383
RAIT Financial Trust (REIT)		6,778		54,021
Ramco-Gershenson Properties Trust (REIT)		6,651		111,737
Rayonier, Inc. (REIT)		2,927		174,654
Realty Income Corp. (REIT)		21,885		992,485
Redwood Trust, Inc. (REIT)		8,901		206,325

See Notes to Portfolio of Investments.

114

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MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Regency Centers Corp. (REIT)		4,088	$	216,296
Resource Capital Corp. (REIT)		12,174		80,470
Retail Opportunity Investments Corp. (REIT)		6,304		88,319
Retail Properties of America, Inc. (REIT), Class A		9,732		144,034
RLJ Lodging Trust (REIT)		13,741		312,745
Rouse Properties, Inc. (REIT)		2,589		46,861
Ryman Hospitality Properties (REIT)		1,187		54,305
Sabra Health Care REIT, Inc. (REIT)		4,251		123,322
Select Income REIT (REIT)		1,315		34,782
Senior Housing Properties Trust (REIT)		21,165		567,857
Silver Bay Realty Trust Corp. (REIT)		4,683		96,929
Sovran Self Storage, Inc. (REIT)		4,949		319,161
Spirit Realty Capital, Inc. (REIT)		2,975		56,525
STAG Industrial, Inc. (REIT)		4,233		90,036
Strategic Hotels & Resorts, Inc. (REIT)*		3,291		27,480
Summit Hotel Properties, Inc. (REIT)		6,236		65,291
Sunstone Hotel Investors, Inc. (REIT)*		18,035		222,011
Taubman Centers, Inc. (REIT)		4,535		352,188
Terreno Realty Corp. (REIT)		2,153		38,711
Two Harbors Investment Corp. (REIT)		40,417		509,658
UMH Properties, Inc. (REIT)		1,398		14,357
Universal Health Realty Income Trust (REIT)		605		34,915
Urstadt Biddle Properties, Inc. (REIT), Class A		618		13,448
Washington Real Estate Investment Trust (REIT)		5,266		146,605
Weingarten Realty Investors (REIT)		13,573		428,228
Western Asset Mortgage Capital Corp. (REIT)		2,178		50,617
Whitestone REIT (REIT)		1,732		26,223
Winthrop Realty Trust (REIT)		3,348		42,118
ZAIS Financial Corp. (REIT)*		480		9,902
				36,292,603
Real Estate Management & Development (1.3%)
Alexander & Baldwin, Inc.*		4,410		157,658
AV Homes, Inc.*		1,057		14,090
Consolidated-Tomoka Land Co.		508		19,939
Forest City Enterprises, Inc., Class A*		16,557		294,218
Forestar Group, Inc.*		3,829		83,702
Howard Hughes Corp.*		80,046		6,708,655
Jones Lang LaSalle, Inc.		4,894		486,513
Kennedy-Wilson Holdings, Inc.		5,357		83,087
Realogy Holdings Corp.*		4,022		196,434
St. Joe Co.*		6,373		135,426
Thomas Properties Group, Inc.		3,588		18,406
				8,198,128
Thrifts & Mortgage Finance (1.2%)
Astoria Financial Corp.		9,666		95,307
Bank Mutual Corp.		5,386		29,785
BankFinancial Corp.		2,429		19,651
Beneficial Mutual Bancorp, Inc.*		3,163		32,579
Berkshire Hills Bancorp, Inc.		2,576		65,791
BofI Holding, Inc.*		1,130		40,544
Brookline Bancorp, Inc.		7,886		72,078
Cape Bancorp, Inc.		978		8,958
Capitol Federal Financial, Inc.		17,019		205,419
Charter Financial Corp./Georgia		795		10,168
Clifton Savings Bancorp, Inc.		909		11,326
Dime Community Bancshares, Inc.		3,595		51,624
Doral Financial Corp.*		15,247		10,745
ESB Financial Corp.		1,192		16,318
ESSA Bancorp, Inc.		1,023		11,089
EverBank Financial Corp.		2,574		39,640
Farmer Mac, Class C		1,129		34,762
First Defiance Financial Corp.		990		23,087
First Federal Bancshares of Arkansas, Inc.*		263		2,630
First Financial Holdings, Inc.		1,810		37,938
First Financial Northwest, Inc.*		1,734		13,543
First PacTrust Bancorp, Inc.		1,103		12,574
Flushing Financial Corp.		3,523		59,680
Fox Chase Bancorp, Inc.		1,397		23,595
Franklin Financial Corp./Virginia		1,422		25,951
Heritage Financial Group, Inc.		831		12,033
Hingham Institution for Savings		127		8,852
Home Bancorp, Inc.*		789		14,683
Home Federal Bancorp, Inc./Idaho		1,552		19,866
Home Loan Servicing Solutions Ltd.		5,957		138,977
HomeStreet, Inc.*		976		21,804
Hudson City Bancorp, Inc.		58,460		505,094
Kearny Financial Corp.*		1,819		18,554
Meridian Interstate Bancorp, Inc.*		954		17,887
MGIC Investment Corp.*		508,708		2,518,105
NASB Financial, Inc.*		461		9,704
Northfield Bancorp, Inc./New Jersey .		2,347		26,662
Northwest Bancshares, Inc.		10,919		138,562
OceanFirst Financial Corp.		1,608		23,187
Ocwen Financial Corp.*		11,283		427,851
Oritani Financial Corp.		3,388		52,480
Peoples Federal Bancshares, Inc.		678		12,950
People’s United Financial, Inc.		29,219		392,703
Provident Financial Holdings, Inc.		1,085		18,456
Provident Financial Services, Inc.		6,711		102,477
Provident New York Bancorp		4,099		37,178
Radian Group, Inc.		96,832		1,037,071
Rockville Financial, Inc.		3,234		41,913
Roma Financial Corp.		898		14,422
SI Financial Group, Inc.		1,182		14,290
Simplicity Bancorp, Inc.		954		14,339
Territorial Bancorp, Inc.		1,218		28,964
TFS Financial Corp.*		8,755		94,817
Tree.com, Inc.		233		4,308
TrustCo Bank Corp./New York		10,535		58,785
United Financial Bancorp, Inc.		1,952		29,670
ViewPoint Financial Group, Inc.		3,779		75,996
Walker & Dunlop, Inc.*		1,311		23,559
Washington Federal, Inc.		11,845		207,287
Waterstone Financial, Inc.*		759		6,277
Westfield Financial, Inc.		2,468		19,201
WSFS Financial Corp.		855		41,587
				7,185,333
Total Financials				153,706,784
Health Care (5.8%)
Biotechnology (0.2%)
Agenus, Inc.*		975		3,793
AMAG Pharmaceuticals, Inc.*		513		12,235
Arena Pharmaceuticals, Inc.*		2,796		22,955
Astex Pharmaceuticals*		10,470		46,696
AVEO Pharmaceuticals, Inc.*		338		2,484
Codexis, Inc.*		2,891		6,910
Curis, Inc.*		2,037		6,681

See Notes to Portfolio of Investments.

115

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Cytori Therapeutics, Inc.*		1,483	$	3,722
Durata Therapeutics, Inc.*		208		1,872
Dynavax Technologies Corp.*		2,271		5,042
Emergent Biosolutions, Inc.*		2,335		32,643
Enzon Pharmaceuticals, Inc.		4,007		15,227
Geron Corp.*		14,772		15,806
GTx, Inc.*		663		2,752
Hyperion Therapeutics, Inc.*		78		2,014
Idenix Pharmaceuticals, Inc.*		980		3,489
ImmunoGen, Inc.*		2,206		35,428
Intercept Pharmaceuticals, Inc.*		68		2,543
InterMune, Inc.*		3,947		35,720
KYTHERA Biopharmaceuticals, Inc.*		77		1,876
Lexicon Pharmaceuticals, Inc.*		13,813		30,112
LipoScience, Inc.*		197		2,071
Maxygen, Inc.		3,001		7,232
Momenta Pharmaceuticals, Inc.*		3,260		43,488
Myriad Genetics, Inc.*		33,930		861,822
NPS Pharmaceuticals, Inc.*		3,273		33,352
PDL BioPharma, Inc.		2,241		16,382
Regulus Therapeutics, Inc.*		277		2,147
Repligen Corp.*		456		3,151
Rigel Pharmaceuticals, Inc.*		1,501		10,192
Targacept, Inc.*		3,045		13,033
Tesaro, Inc.*		91		1,998
Vical, Inc.*		941		3,745
XOMA Corp.*		848		2,960
				1,291,573
Health Care Equipment & Supplies (1.6%)
Alere, Inc.*		8,890		226,962
Alphatec Holdings, Inc.*		6,446		13,601
AngioDynamics, Inc.*		2,628		30,038
ArthroCare Corp.*		544		18,909
Boston Scientific Corp.*		333,880		2,607,603
CareFusion Corp.*		16,420		574,536
Cerus Corp.*		623		2,754
CONMED Corp.		3,148		107,221
Cooper Cos., Inc.		3,684		397,430
CryoLife, Inc.		3,037		18,252
Cynosure, Inc., Class A*		636		16,644
Derma Sciences, Inc.*		1,156		13,964
Exactech, Inc.*		745		15,414
Globus Medical, Inc., Class A*		317		4,654
Greatbatch, Inc.*		44,377		1,325,541
Hill-Rom Holdings, Inc.		6,922		243,793
Hologic, Inc.*		53,215		1,202,659
ICU Medical, Inc.*		139		8,194
Integra LifeSciences Holdings Corp.*		954		37,216
Invacare Corp.		3,448		44,996
Merit Medical Systems, Inc.*		4,487		55,011
Natus Medical, Inc.*		1,307		17,566
NuVasive, Inc.*		3,589		76,482
Orthofix International N.V*		39,707		1,424,290
Palomar Medical Technologies, Inc.*		2,106		28,410
PhotoMedex, Inc.*		225		3,620
Rochester Medical Corp.*		193		2,822
RTI Biologics, Inc.*		5,712		22,505
Sirona Dental Systems, Inc.*		5,040		371,599
Solta Medical, Inc.*		7,251		15,952
STERIS Corp.		1,717		71,444
SurModics, Inc.*		1,083		29,512
Symmetry Medical, Inc.*		2,909		33,308
Teleflex, Inc.		4,515		381,563
Tornier N.V.*		511		9,632
West Pharmaceutical Services, Inc.		1,360		88,318
Wright Medical Group, Inc.*		4,460		106,193
Zeltiq Aesthetics, Inc.*		1,127		4,305
				9,652,913
Health Care Providers & Services (2.2%)
Almost Family, Inc.		909		18,571
Amedisys, Inc.*		3,368		37,452
AMN Healthcare Services, Inc.*		2,213		35,032
Amsurg Corp.*		2,303		77,473
Assisted Living Concepts, Inc., Class A		2,163		25,718
BioScrip, Inc.*		3,602		45,781
Brookdale Senior Living, Inc.*		10,830		301,940
Capital Senior Living Corp.*		471		12,449
Chindex International, Inc.*		1,291		17,738
Community Health Systems, Inc.		32,206		1,526,242
Coventry Health Care, Inc.		14,868		699,242
Cross Country Healthcare, Inc.*		2,889		15,341
DaVita HealthCare Partners, Inc.*		2,900		343,911
Ensign Group, Inc.		736		24,582
ExamWorks Group, Inc.*		2,690		46,591
Five Star Quality Care, Inc.*		4,770		31,911
Gentiva Health Services, Inc.*		3,367		36,431
Hanger, Inc.*		17,675		557,293
Health Management Associates, Inc., Class A*		28,483		366,576
Health Net, Inc.*		9,216		263,762
HealthSouth Corp.*		1,609		42,429
Healthways, Inc.*		3,786		46,379
Kindred Healthcare, Inc.*		5,790		60,969
Laboratory Corp. of America Holdings*		7,400		667,480
LHC Group, Inc.*		1,541		33,116
LifePoint Hospitals, Inc.*		5,435		263,380
Magellan Health Services, Inc.*		2,907		138,286
MEDNAX, Inc.*		20,068		1,798,695
Molina Healthcare, Inc.*		3,058		94,401
National Healthcare Corp.		1,173		53,630
Omnicare, Inc.		11,604		472,515
Owens & Minor, Inc.		1,045		34,025
Patterson Cos., Inc.		697		26,514
PDI, Inc.*		988		5,829
PharMerica Corp.*		3,343		46,802
Providence Service Corp.*		1,094		20,228
Quest Diagnostics, Inc.		53,705		3,031,647
Select Medical Holdings Corp.		3,886		34,974
Skilled Healthcare Group, Inc., Class A*		176		1,156
Team Health Holdings, Inc.*		28,100		1,022,278
Tenet Healthcare Corp.*		10,815		514,578
Triple-S Management Corp., Class B*		2,062		35,920
Universal American Corp.		4,250		35,403
Universal Health Services, Inc., Class B		9,361		597,887
Vanguard Health Systems, Inc.*		344		5,115
VCA Antech, Inc.*		9,709		228,064
WellCare Health Plans, Inc.*		2,495		144,610
				13,940,346
Health Care Technology (0.1%)
Allscripts Healthcare Solutions, Inc.*		19,013		258,387
Greenway Medical Technologies*		214		3,403
MedAssets, Inc.*		4,304		82,852
Merge Healthcare, Inc.*		1,542		4,456
Omnicell, Inc.*		3,348		63,210

See Notes to Portfolio of Investments.

116

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Vocera Communications, Inc.*		453	$	10,419
				422,727
Life Sciences Tools & Services (0.8%)
Affymetrix, Inc.*		7,975		37,642
Bio-Rad Laboratories, Inc., Class A*		2,236		281,736
Cambrex Corp.*		1,648		21,078
Charles River Laboratories International, Inc.*		1,998		88,452
Covance, Inc.*		5,769		428,752
Harvard Bioscience, Inc.*		2,608		14,735
Life Technologies Corp.*		18,440		1,191,777
Pacific Biosciences of California, Inc.*		4,106		10,224
PerkinElmer, Inc.		61,844		2,080,432
QIAGEN N.V.*		26,243		553,202
Sequenom, Inc.*		3,120		12,948
				4,720,978
Pharmaceuticals (0.9%)
Actavis, Inc.*		12,100		1,114,531
AVANIR Pharmaceuticals, Inc., Class A*		966		2,647
Cornerstone Therapeutics, Inc.*		840		5,939
Cumberland Pharmaceuticals, Inc.*		586		2,918
Endo Health Solutions, Inc.*		4,560		140,266
Forest Laboratories, Inc.*		112,385		4,275,126
Hi-Tech Pharmacal Co., Inc.		758		25,097
Horizon Pharma, Inc.*		1,796		4,867
Lannett Co., Inc.*		1,791		18,107
Nektar Therapeutics*		3,788		41,668
Supernus Pharmaceuticals, Inc.*		397		2,231
Transcept Pharmaceuticals, Inc.*		1,228		5,882
ViroPharma, Inc.*		7,339		184,649
XenoPort, Inc.*		669		4,783
				5,828,711
Total Health Care				35,857,248
Industrials (11.4%)
Aerospace & Defense (1.1%)
AAR Corp.		4,433		81,523
Aerovironment, Inc.*		792		14,359
Alliant Techsystems, Inc		3,651		264,442
American Science & Engineering, Inc.		720		43,913
API Technologies Corp.*		3,636		9,017
Cubic Corp.		836		35,714
Curtiss-Wright Corp.		5,201		180,475
DigitalGlobe, Inc.*		3,171		91,674
Esterline Technologies Corp.*		3,413		258,364
Exelis, Inc.		311,559		3,392,878
GenCorp, Inc.*		1,464		19,471
Hexcel Corp.*		24,100		699,141
Huntington Ingalls Industries, Inc.		5,489		292,728
KEYW Holding Corp.*		1,577		25,437
Kratos Defense & Security Solutions, Inc.*		4,451		22,389
LMI Aerospace, Inc.*		891		18,524
Moog, Inc., Class A*		4,452		204,035
National Presto Industries, Inc.		484		38,962
Orbital Sciences Corp.*		6,468		107,951
SIFCO Industries, Inc.		149		2,743
Spirit AeroSystems Holdings, Inc., Class A*		10,253		194,704
Sypris Solutions, Inc.		339		1,417
Teledyne Technologies, Inc.*		2,670		209,435
Triumph Group, Inc.		3,649		286,446
				6,495,742
Air Freight & Logistics (0.5%)
Air Transport Services Group, Inc.* .		6,036		35,190
Atlas Air Worldwide Holdings, Inc.* .		13,643		556,089
Hub Group, Inc., Class A*		57,870		2,225,680
Pacer International, Inc.*		3,384		17,021
UTi Worldwide, Inc.		11,467		166,042
				3,000,022
Airlines (0.8%)
Alaska Air Group, Inc.*		432		27,631
Copa Holdings S.A., Class A		718		85,880
Hawaiian Holdings, Inc.*		2,641		15,212
JetBlue Airways Corp.*		26,121		180,235
Republic Airways Holdings, Inc.*		2,471		28,515
SkyWest, Inc.		5,172		83,011
Southwest Airlines Co.		308,283		4,155,655
Spirit Airlines, Inc.*		23,400		593,424
				5,169,563
Building Products (1.0%)
A.O. Smith Corp.		3,144		231,304
American Woodmark Corp.*		897		30,525
Apogee Enterprises, Inc.		3,192		92,408
Fortune Brands Home & Security, Inc.*		35,452		1,326,968
Gibraltar Industries, Inc.*		3,435		62,689
Griffon Corp.		4,963		59,159
Insteel Industries, Inc.		1,799		29,360
Masco Corp		23,700		479,925
NCI Building Systems, Inc.*		2,065		35,869
Owens Corning, Inc.*		13,508		532,620
PGT, Inc.*		987		6,781
Quanex Building Products Corp.		4,155		66,896
Simpson Manufacturing Co., Inc.		3,952		120,971
Universal Forest Products, Inc.		2,174		86,547
USG Corp.*		120,000		3,172,800
				6,334,822
Commercial Services & Supplies (0.9%)
A.T. Cross Co., Class A*		161		2,217
ABM Industries, Inc.		5,966		132,684
ACCO Brands Corp.*		6,952		46,439
ARC Document Solutions, Inc.*		3,411		10,165
Avery Dennison Corp.		11,495		495,090
Brink’s Co.		25,800		729,108
Casella Waste Systems, Inc., Class A*		3,702		16,178
CECO Environmental Corp.		247		3,194
Cenveo, Inc.*		6,186		13,300
Cintas Corp.		6,374		281,285
CompX International, Inc.		140		1,774
Consolidated Graphics, Inc.*		807		31,554
Courier Corp.		1,211		17,450
Covanta Holding Corp.		11,260		226,889
Deluxe Corp.		1,915		79,281
EnergySolutions, Inc.*		6,255		23,456
EnerNOC, Inc.*		1,741		30,241
Ennis, Inc.		2,959		44,592
G&K Services, Inc., Class A		2,129		96,891
HNI Corp.		268		9,511
Intersections, Inc.		313		2,945
KAR Auction Services, Inc.		3,194		63,976
Kimball International, Inc., Class B		3,703		33,549
Knoll, Inc.		1,636		29,661
McGrath RentCorp		1,357		42,203
Metalico, Inc.*		4,540		7,355
Mobile Mini, Inc.*		4,242		124,842
Multi-Color Corp.		1,434		36,983

See Notes to Portfolio of Investments.

117

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MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
NL Industries, Inc.		687	$	8,539
Performant Financial Corp.*		370		4,544
Pitney Bowes, Inc.		7,212		107,170
Quad/Graphics, Inc.		2,782		66,601
R.R. Donnelley & Sons Co.		19,988		240,855
Schawk, Inc.		1,407		15,463
Steelcase, Inc., Class A		7,298		107,500
Swisher Hygiene, Inc.*		12,651		16,320
Tetra Tech, Inc.*		37,185		1,133,771
TMS International Corp., Class A*		745		9,834
TRC Cos., Inc.*		344		2,219
U.S. Ecology, Inc.		751		19,939
UniFirst Corp.		1,627		147,243
United Stationers, Inc.		4,179		161,518
Viad Corp.		2,278		63,009
Waste Connections, Inc.		24,678		887,914
				5,625,252
Construction & Engineering (1.3%)
AECOM Technology Corp.*		11,628		381,399
Aegion Corp.*		3,760		87,044
Ameresco, Inc., Class A*		558		4,129
Argan, Inc.		891		13,285
Chicago Bridge & Iron Co. N.V. (N.Y. Shares)		5,123		318,138
Comfort Systems USA, Inc.		2,988		42,101
Dycom Industries, Inc.*		502		9,884
EMCOR Group, Inc.		7,435		315,170
Furmanite Corp.*		4,172		27,911
Granite Construction, Inc.		4,294		136,721
Great Lakes Dredge & Dock Corp.		5,958		40,097
Jacobs Engineering Group, Inc.*		31,600		1,777,184
KBR, Inc.		16,451		527,748
Layne Christensen Co.*		138,148		2,953,604
Michael Baker Corp.		1,004		24,598
MYR Group, Inc.*		1,035		25,420
Northwest Pipe Co.*		1,036		28,987
Orion Marine Group, Inc.*		2,952		29,343
Pike Electric Corp.		1,961		27,905
Primoris Services Corp.		2,458		54,346
Quanta Services, Inc.*		23,230		663,913
Sterling Construction Co., Inc.*		1,662		18,099
Tutor Perini Corp.*		3,915		75,560
URS Corp.		8,381		397,343
				7,979,929
Electrical Equipment (0.9%)
American Superconductor Corp.*		3,990		10,613
Babcock & Wilcox Co.		135,000		3,835,350
Belden, Inc.		578		29,854
Brady Corp., Class A		5,448		182,671
Encore Wire Corp.		1,779		62,301
EnerSys, Inc.*		3,377		153,924
Enphase Energy, Inc.*		295		1,829
Franklin Electric Co., Inc.		278		9,332
FuelCell Energy, Inc.*		12,604		11,896
Generac Holdings, Inc.		1,542		54,494
General Cable Corp.*		5,199		190,439
Global Power Equipment Group, Inc.		1,949		34,341
GrafTech International Ltd.*		13,041		100,155
Hubbell, Inc., Class B		1,133		110,026
II-VI, Inc.*		887		15,114
LSI Industries, Inc.		2,286		15,956
Powell Industries, Inc.*		591		31,069
Preformed Line Products Co.		228		15,953
Regal-Beloit Corp.		4,614		376,318
Solarcity Corp.*		721		13,613
Vicor Corp.*		1,742		8,658
				5,263,906
Industrial Conglomerates (0.1%)
Carlisle Cos., Inc.		6,285		426,060
Machinery (3.0%)
Accuride Corp.*		4,890		26,357
Actuant Corp., Class A		6,517		199,550
AGCO Corp.		10,767		561,176
Alamo Group, Inc.		706		27,004
Albany International Corp., Class A		3,042		87,914
Altra Holdings, Inc.		1,384		37,672
American Railcar Industries, Inc.		1,070		50,012
Ampco-Pittsburgh Corp.		916		17,322
Astec Industries, Inc.		2,214		77,335
Barnes Group, Inc.		6,045		174,882
Briggs & Stratton Corp.		5,431		134,689
Cascade Corp.		986		64,070
CIRCOR International, Inc.		1,780		75,650
Colfax Corp.*		3,807		177,178
Columbus McKinnon Corp.*		2,196		42,273
Crane Co.		5,420		302,761
Douglas Dynamics, Inc.		2,495		34,481
Dover Corp.		55,775		4,064,882
Dynamic Materials Corp.		941		16,373
Eastern Co.		669		11,734
Energy Recovery, Inc.*		4,696		17,375
EnPro Industries, Inc.*		1,059		54,189
ESCO Technologies, Inc.		5,120		209,203
ExOne Co.*		190		6,365
Federal Signal Corp.*		6,374		51,884
Flow International Corp.*		4,198		16,414
FreightCar America, Inc.		1,329		28,999
Gardner Denver, Inc.		5,576		418,813
Greenbrier Cos., Inc.*		2,587		58,751
Hardinge, Inc.		1,266		17,256
Harsco Corp.		8,998		222,880
Hurco Cos., Inc.*		698		19,006
Hyster-Yale Materials Handling, Inc.		1,211		69,136
IDEX Corp.		7,509		401,131
ITT Corp.		47,380		1,347,013
Kadant, Inc.*		1,321		33,025
Kaydon Corp.		3,633		92,932
Kennametal, Inc.		49,423		1,929,474
L.B. Foster Co., Class A		1,011		44,777
Lydall, Inc.*		1,902		29,196
Manitowoc Co., Inc.		3,572		73,440
Meritor, Inc.*		8,388		39,675
Met-Pro Corp.		1,609		16,621
Miller Industries, Inc.		1,212		19,453
Mueller Industries, Inc.		1,854		98,800
Mueller Water Products, Inc., Class A		6,137		36,392
Navistar International Corp.*		7,838		270,960
NN, Inc.*		1,904		18,012
Nordson Corp.		524		34,558
Oshkosh Corp.*		10,161		431,741
Parker Hannifin Corp.		8,140		745,461
Pentair Ltd. (Registered)		23,365		1,232,504
PMFG, Inc.*		2,334		14,401
Rexnord Corp.*		2,448		51,971
Snap-on, Inc.		5,166		427,228
SPX Corp.		3,634		286,941
Standex International Corp.		1,103		60,908

See Notes to Portfolio of Investments.

118

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MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Terex Corp.*		12,285	$	422,850
Timken Co.		8,841		500,224
Trimas Corp.*		291		9,449
Trinity Industries, Inc.		8,924		404,525
Twin Disc, Inc.		953		23,901
WABCO Holdings, Inc.*		486		34,307
Watts Water Technologies, Inc., Class A		3,041		145,938
Xylem, Inc.		79,000		2,177,240
				18,828,634
Marine (0.0%)
Genco Shipping & Trading Ltd.*		3,586		10,328
International Shipholding Corp.		651		11,848
Kirby Corp.*		1,606		123,341
Matson, Inc.		4,330		106,518
Rand Logistics, Inc.*		1,859		11,386
				263,421
Professional Services (0.5%)
CBIZ, Inc.*		4,084		26,056
CDI Corp.		1,289		22,171
CRA International, Inc.*		1,114		24,920
Dolan Co.*		3,413		8,157
Dun & Bradstreet Corp.		1,481		123,886
Equifax, Inc.		1,323		76,192
Franklin Covey Co.*		495		7,192
FTI Consulting, Inc.*		4,642		174,818
GP Strategies Corp.*		169		4,032
Heidrick & Struggles International, Inc.		2,048		30,618
Hill International, Inc.*		2,396		7,164
Hudson Global, Inc.*		3,888		15,319
ICF International, Inc.*		2,187		59,486
Kelly Services, Inc., Class A		3,028		56,563
Kforce, Inc.		247		4,043
Korn/Ferry International*		5,301		94,676
Manpower, Inc.		8,888		504,127
Navigant Consulting, Inc.*		5,727		75,253
Pendrell Corp.*		17,320		28,751
Resources Connection, Inc.		4,809		61,074
Robert Half International, Inc.		31,200		1,170,936
RPX Corp.*		194		2,737
Towers Watson & Co., Class A		6,728		466,385
TrueBlue, Inc.*		1,244		26,298
VSE Corp.		358		8,947
WageWorks, Inc.*		295		7,384
				3,087,185
Road & Rail (0.7%)
Amerco, Inc.		958		166,251
Arkansas Best Corp.		2,855		33,346
Con-way, Inc.		2,786		98,095
Genesee & Wyoming, Inc., Class A* .		12,400		1,154,564
Heartland Express, Inc.		1,153		15,381
Hertz Global Holdings, Inc.*		82,749		1,841,993
Kansas City Southern		5,100		565,590
Marten Transport Ltd.		1,749		35,207
Patriot Transportation Holding, Inc.*		742		20,642
Quality Distribution, Inc.*		1,585		13,330
Roadrunner Transportation Systems, Inc.*		708		16,284
Ryder System, Inc.		5,690		339,978
Saia, Inc.*		1,481		53,568
Universal Truckload Services, Inc.*		629		14,675
Werner Enterprises, Inc.		676		16,319
				4,385,223
Trading Companies & Distributors (0.6%)
Aceto Corp.		2,324		25,727
Air Lease Corp.		7,432		217,906
Aircastle Ltd.		6,083		83,215
Applied Industrial Technologies, Inc.		371		16,695
BlueLinx Holdings, Inc.*		2,810		8,009
CAI International, Inc.*		950		27,379
Edgen Group, Inc.*		1,276		9,226
GATX Corp.		5,192		269,828
H&E Equipment Services, Inc.		1,448		29,539
Houston Wire & Cable Co.		1,266		16,395
MRC Global, Inc.*		938		30,888
Rush Enterprises, Inc., Class A*		3,647		87,966
SeaCube Container Leasing Ltd.		1,103		25,325
TAL International Group, Inc.		32,056		1,452,457
United Rentals, Inc.*		19,000		1,044,430
WESCO International, Inc.*		4,837		351,215
Willis Lease Finance Corp.*		469		7,091
				3,703,291
Transportation Infrastructure (0.0%)
Wesco Aircraft Holdings, Inc.*		1,420		20,902
Total Industrials				70,583,952
Information Technology (7.4%)
Communications Equipment (0.6%)
Anaren, Inc.*		1,230		23,850
Arris Group, Inc.*		10,957		188,132
Aviat Networks, Inc.*		6,602		22,249
Bel Fuse, Inc., Class B		1,134		17,702
Black Box Corp.		1,779		38,800
Brocade Communications Systems, Inc.*		50,872		293,531
Calix, Inc.*		2,909		23,708
Ciena Corp.*		2,773		44,396
Comtech Telecommunications Corp.		1,844		44,772
Digi International, Inc.*		2,891		25,817
EchoStar Corp., Class A*		3,149		122,717
Emulex Corp.*		9,854		64,347
Finisar Corp.*		10,143		133,786
Globecomm Systems, Inc.*		602		7,230
Harmonic, Inc.*		12,928		74,853
Infinera Corp.*		1,290		9,030
JDS Uniphase Corp.*		25,628		342,646
Juniper Networks, Inc.*		83,255		1,543,548
KVH Industries, Inc.*		274		3,718
Loral Space & Communications, Inc.		80		4,950
NETGEAR, Inc.*		2,316		77,609
Oclaro, Inc.*		8,059		10,154
Oplink Communications, Inc.*		2,152		35,293
Palo Alto Networks, Inc.*		188		10,641
PC-Tel, Inc.		2,032		14,427
Plantronics, Inc.		3,152		139,287
Polycom, Inc.*		19,844		219,872
Ruckus Wireless, Inc.*		471		9,891
ShoreTel, Inc.*		644		2,338
Sonus Networks, Inc.*		21,368		55,343
Symmetricom, Inc.*		4,743		21,533
Tellabs, Inc.		40,365		84,363
Telular Corp.		707		7,112
Tessco Technologies, Inc.		285		6,167
Westell Technologies, Inc., Class A*		5,497		11,049
				3,734,861
Computers & Peripherals (0.3%)
Avid Technology, Inc.*		3,036		19,036

See Notes to Portfolio of Investments.

119

AXA PREMIER VIP TRUST

MULTIMANAGER MID CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Diebold, Inc.		6,464	$	195,989
Electronics for Imaging, Inc.*		4,676		118,583
Imation Corp.*		3,550		13,561
Immersion Corp.*		110		1,291
Intermec, Inc.*		5,928		58,272
Intevac, Inc.*		2,727		12,871
Lexmark International, Inc., Class A		7,239		191,110
OCZ Technology Group, Inc.*		7,626		13,727
QLogic Corp.*		7,511		87,128
Quantum Corp.*		24,989		31,986
Silicon Graphics International Corp.*		3,401		46,764
STEC, Inc.*		3,996		17,662
Stratasys Ltd.*		1,890		140,276
Super Micro Computer, Inc.*		343		3,872
Synaptics, Inc.*		19,200		781,248
				1,733,376
Electronic Equipment, Instruments & Components (1.4%)
Aeroflex Holding Corp.*		2,227		17,504
Agilysys, Inc.*		1,619		16,093
Amphenol Corp., Class A		11,300		843,545
Anixter International, Inc.		1,259		88,029
Arrow Electronics, Inc.*		11,733		476,594
Audience, Inc.*		582		8,875
Avnet, Inc.*		15,199		550,204
AVX Corp.		5,263		62,630
Benchmark Electronics, Inc.*		6,282		113,202
Checkpoint Systems, Inc.*		4,542		59,319
Coherent, Inc.		1,865		105,820
CTS Corp.		3,853		40,225
Daktronics, Inc.		3,001		31,511
Echelon Corp.*		1,926		4,699
Electro Rent Corp.		1,873		34,725
Electro Scientific Industries, Inc.		2,619		28,940
Fabrinet*		2,492		36,408
FEI Co.		269		17,364
FLIR Systems, Inc.		44,218		1,150,111
Gerber Scientific, Inc. (Escrow Shares)(b)*†		3,050		30
GSI Group, Inc.*		3,092		26,375
Ingram Micro, Inc., Class A*		16,812		330,860
Insight Enterprises, Inc.*		4,872		100,461
Itron, Inc.*		4,428		205,459
Jabil Circuit, Inc.		70,597		1,304,633
Kemet Corp.*		5,001		31,256
Key Tronic Corp.*		958		10,979
Littelfuse, Inc.		232		15,741
Measurement Specialties, Inc.*		202		8,034
Mercury Systems, Inc.*		3,446		25,397
Methode Electronics, Inc.		4,123		53,104
Molex, Inc.		15,263		446,901
Multi-Fineline Electronix, Inc.*		800		12,344
Newport Corp.*		4,194		70,962
Park Electrochemical Corp.		2,352		59,600
PC Connection, Inc.		873		14,274
Plexus Corp.*		2,146		52,169
Power-One, Inc.*		7,600		31,540
RadiSys Corp.*		2,617		12,876
RealD, Inc.*		710		9,230
Richardson Electronics Ltd.		1,463		17,351
Rofin-Sinar Technologies, Inc.*		3,157		85,523
Rogers Corp.*		1,074		51,144
Sanmina Corp.*		9,100		103,376
ScanSource, Inc.*		3,029		85,478
SYNNEX Corp.*		2,891		106,967
Tech Data Corp.*		4,163		189,874
Trimble Navigation Ltd.*		31,400		940,744
TTM Technologies, Inc.*		5,732		43,563
Viasystems Group, Inc.*		423		5,516
Vishay Intertechnology, Inc.*		14,677		199,754
Vishay Precision Group, Inc.*		1,236		18,157
Zygo Corp.*		1,489		22,052
				8,377,522
Internet Software & Services (0.3%)
Akamai Technologies, Inc.*		19,800		698,742
AOL, Inc.*		6,610		254,419
Bankrate, Inc.*		642		7,666
Bazaarvoice, Inc.*		75		549
Blucora, Inc.*		3,841		59,459
Brightcove, Inc.*		26		161
Dealertrack Technologies, Inc.*		524		15,395
Demand Media, Inc.*		860		7,422
Demandware, Inc.*		71		1,800
Digital River, Inc.*		4,010		56,701
E2open, Inc.*		96		1,914
EarthLink, Inc.		11,578		62,753
IAC/InterActiveCorp		7,368		329,202
Internap Network Services Corp.*		2,960		27,676
IntraLinks Holdings, Inc.*		4,101		26,082
j2 Global, Inc.		895		35,093
Keynote Systems, Inc.		1,754		24,486
Limelight Networks, Inc.*		6,757		13,919
Marchex, Inc., Class B		2,431		10,235
Market Leader, Inc.*		426		3,817
MeetMe, Inc.*		1,780		4,058
Millennial Media, Inc.*		154		978
Monster Worldwide, Inc.*		13,358		67,725
Perficient, Inc.*		855		9,969
QuinStreet, Inc.*		3,710		22,149
RealNetworks, Inc.*		2,465		19,005
support.com, Inc.*		1,505		6,291
TechTarget, Inc.*		1,698		8,303
Trulia, Inc.*		211		6,621
United Online, Inc.		10,111		60,969
Unwired Planet, Inc.*		590		1,310
ValueClick, Inc.*		3,331		98,431
WebMD Health Corp.*		5,605		136,314
Xoom Corp.*		87		1,987
				2,081,601
IT Services (2.9%)
Acxiom Corp.*		36,657		747,803
Alliance Data Systems Corp.*		6,400		1,036,096
Amdocs Ltd.		35,500		1,286,875
Booz Allen Hamilton Holding Corp.		2,778		37,336
Broadridge Financial Solutions, Inc.		110,350		2,741,094
CACI International, Inc., Class A*		2,308		133,564
CIBER, Inc.*		8,194		38,512
Computer Task Group, Inc.		390		8,342
Convergys Corp.		12,203		207,817
CoreLogic, Inc.*		10,846		280,478
CSG Systems International, Inc.*		58,261		1,234,551
DST Systems, Inc.		3,098		220,794
Euronet Worldwide, Inc.*		5,639		148,531
Fidelity National Information Services, Inc.		26,900		1,065,778
Fiserv, Inc.*		9,600		843,168
FleetCor Technologies, Inc.*		12,800		981,376
Genpact Ltd.		2,861		52,042
Lender Processing Services, Inc.		41,500		1,056,590
ManTech International Corp., Class A		2,515		67,578

See Notes to Portfolio of Investments.

120

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
ModusLink Global Solutions, Inc.*		4,328	$	14,282
MoneyGram International, Inc.*		1,732		31,349
SAIC, Inc.		319,316		4,326,732
Sapient Corp.*		97,500		1,188,525
Sykes Enterprises, Inc.*		4,284		68,373
TeleTech Holdings, Inc.*		2,410		51,116
Total System Services, Inc.		2,510		62,198
Unisys Corp.*		2,370		53,917
				17,984,817
Office Electronics (0.0%)
Zebra Technologies Corp., Class A*		4,859		229,005
Semiconductors & Semiconductor Equipment (1.2%)
Advanced Energy Industries, Inc.*		4,411		80,721
Alpha & Omega Semiconductor Ltd.*		1,991		17,680
Ambarella, Inc.*		416		6,515
Amkor Technology, Inc.*		7,937		31,748
ANADIGICS, Inc.*		8,996		17,992
Applied Micro Circuits Corp.*		7,213		53,520
Atmel Corp.*		45,012		313,284
ATMI, Inc.*		3,303		74,086
Axcelis Technologies, Inc.*		12,541		15,676
AXT, Inc.*		3,613		10,622
Brooks Automation, Inc.		7,482		76,167
CEVA, Inc.*		641		10,000
Cohu, Inc.		2,617		24,495
Cree, Inc.*		12,906		706,087
Cymer, Inc.*		2,380		228,718
Cypress Semiconductor Corp.*		6,526		71,982
Diodes, Inc.*		3,915		82,137
DSP Group, Inc.*		2,433		19,634
Entegris, Inc.*		15,140		149,280
Entropic Communications, Inc.*		9,938		40,448
Exar Corp.*		3,631		38,125
Fairchild Semiconductor International, Inc.*		14,083		199,134
First Solar, Inc.*		6,702		180,686
FormFactor, Inc.*		5,610		26,367
Freescale Semiconductor Ltd.*		361		5,375
GSI Technology, Inc.*		2,414		15,908
GT Advanced Technologies, Inc.*		2,068		6,804
Inphi Corp.*		1,575		16,459
Integrated Device Technology, Inc.*		15,766		117,772
Integrated Silicon Solution, Inc.*		2,984		27,363
International Rectifier Corp.*		7,659		161,988
Intersil Corp., Class A		14,088		122,706
IXYS Corp.		2,754		26,411
Kopin Corp.*		7,491		27,717
Lam Research Corp.*		24,000		995,040
Lattice Semiconductor Corp.*		13,347		72,741
Linear Technology Corp.		21,650		830,710
LTX-Credence Corp.*		5,545		33,492
MA-COM Technology Solutions Holdings, Inc.*		581		9,337
Mattson Technology, Inc.*		6,547		9,035
MaxLinear, Inc., Class A*		2,024		12,549
MEMC Electronic Materials, Inc.*		19,810		87,164
Mindspeed Technologies, Inc.*		4,024		13,400
MKS Instruments, Inc		5,817		158,222
MoSys, Inc.*		3,682		17,342
Nanometrics, Inc.*		2,664		38,442
NeoPhotonics Corp.*		2,147		10,971
OmniVision Technologies, Inc.*		5,800		79,924
ON Semiconductor Corp.*		50,416		417,444
Peregrine Semiconductor Corp.*		479		4,680
Pericom Semiconductor Corp.*		2,706		18,428
Photronics, Inc.*		6,766		45,197
PLX Technology, Inc.*		351		1,601
PMC-Sierra, Inc.*		23,018		156,292
QuickLogic Corp.*		866		2,130
Rambus, Inc.*		11,595		65,048
RF Micro Devices, Inc.*		27,109		144,220
Rubicon Technology, Inc.*		1,919		12,665
Rudolph Technologies, Inc.*		3,552		41,843
Sigma Designs, Inc.*		3,794		18,477
Silicon Image, Inc.*		1,499		7,285
Silicon Laboratories, Inc.*		430		17,785
Skyworks Solutions, Inc.*		2,341		51,572
Spansion, Inc., Class A*		5,293		68,121
STR Holdings, Inc.*		3,599		7,810
SunPower Corp.*		2,454		28,319
Supertex, Inc.		1,137		25,253
Teradyne, Inc.*		18,258		296,145
Tessera Technologies, Inc.		5,777		108,319
TriQuint Semiconductor, Inc.*		18,649		94,177
Ultra Clean Holdings, Inc.*		2,953		19,194
Veeco Instruments, Inc.*		3,223		123,538
				7,147,519
Software (0.7%)
Accelrys, Inc.*		6,150		60,024
Actuate Corp.*		424		2,544
Aspen Technology, Inc.*		608		19,632
AVG Technologies N.V.*		75		1,044
Bottomline Technologies (de), Inc.*		2,924		83,363
Compuware Corp.*		23,046		288,075
Ebix, Inc.		824		13,365
Envivio, Inc.*		644		1,095
EPIQ Systems, Inc.		3,307		46,397
ePlus, Inc.		473		21,857
Exa Corp.*		202		1,923
FleetMatics Group plc*		246		5,966
Glu Mobile, Inc.*		407		1,213
Infoblox, Inc.*		96		2,083
Mentor Graphics Corp.		4,720		85,196
Nuance Communications, Inc.*		46,600		940,388
Pervasive Software, Inc.*		1,348		12,361
Progress Software Corp.*		6,372		145,154
Qualys, Inc.*		146		1,802
Rosetta Stone, Inc.*		628		9,659
Rovi Corp.*		83,232		1,781,997
Sapiens International Corp. N.V		1,492		8,117
SeaChange International, Inc.*		3,237		38,488
ServiceNow, Inc.*		384		13,901
SS&C Technologies Holdings, Inc.*		2,733		81,935
Synopsys, Inc.*		15,768		565,756
Telenav, Inc.*		1,896		12,229
TiVo, Inc.*		6,939		85,974
VASCO Data Security International, Inc.*		1,745		14,728
				4,346,266
Total Information Technology				45,634,967
Materials (5.7%)
Chemicals (2.0%)
A. Schulman, Inc.		3,276		103,391
Albemarle Corp.		4,305		269,149
Ashland, Inc.		8,707		646,930
Axiall Corp.		16,398		1,019,300
Cabot Corp.		6,994		239,195

See Notes to Portfolio of Investments.

121

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Calgon Carbon Corp.*		1,044	$	18,896
Celanese Corp.		15,600		687,180
Chase Corp.		753		14,548
Chemtura Corp.*		281,025		6,072,950
Cytec Industries, Inc.		5,108		378,401
Eastman Chemical Co.		5,500		384,285
Ferro Corp.*		9,505		64,159
FutureFuel Corp.		2,139		25,989
Huntsman Corp.		21,214		394,368
Innospec, Inc.		2,239		99,143
Intrepid Potash, Inc.		3,197		59,976
Kraton Performance Polymers, Inc.*		3,527		82,532
Kronos Worldwide, Inc.		2,293		35,885
Landec Corp.*		2,208		31,950
LSB Industries, Inc.*		905		31,476
Minerals Technologies, Inc.		3,896		161,723
Olin Corp.		2,866		72,280
OM Group, Inc.*		3,610		84,763
PolyOne Corp.		3,255		79,454
Quaker Chemical Corp.		1,048		61,853
Rockwood Holdings, Inc.		5,322		348,272
RPM International, Inc.		8,921		281,725
Scotts Miracle-Gro Co., Class A		551		23,825
Sensient Technologies Corp.		5,598		218,826
Stepan Co.		108		6,815
Tredegar Corp.		2,697		79,400
W.R. Grace & Co.*		730		56,582
Westlake Chemical Corp.		1,713		160,165
Zep, Inc.		1,436		21,554
Zoltek Cos., Inc.*		3,093		36,961
				12,353,901
Construction Materials (0.2%)
Martin Marietta Materials, Inc.		2,478		252,806
Texas Industries, Inc.*		2,513		158,595
United States Lime & Minerals, Inc.*		19		1,011
Vulcan Materials Co.		18,400		951,280
				1,363,692
Containers & Packaging (2.0%)
AptarGroup, Inc.		4,883		280,040
Bemis Co., Inc.		11,456		462,364
Berry Plastics Group, Inc.*		41,481		790,213
Boise, Inc.		11,029		95,511
Crown Holdings, Inc.*		12,520		520,957
Graphic Packaging Holding Co.*		16,113		120,686
Greif, Inc., Class A		3,483		186,759
Owens-Illinois, Inc.*		4,735		126,188
Packaging Corp. of America		911		40,877
Rock-Tenn Co., Class A		25,641		2,379,228
Sealed Air Corp.		287,946		6,942,378
Sonoco Products Co.		11,120		389,089
UFP Technologies, Inc.*		609		11,991
				12,346,281
Metals & Mining (1.3%)
A.M. Castle & Co.*		1,834		32,095
African Barrick Gold plc		420,000		1,232,304
AK Steel Holding Corp.		12,427		41,133
Allegheny Technologies, Inc.		44,083		1,397,872
AMCOL International Corp.		158		4,770
Carpenter Technology Corp.		17,538		864,448
Century Aluminum Co.*		5,846		45,248
Coeur d’Alene Mines Corp.*		5,839		110,124
Commercial Metals Co.		12,952		205,289
General Moly, Inc.*		6,412		14,171
Globe Specialty Metals, Inc.		6,463		89,965
Golden Minerals Co.*		3,629		8,637
Golden Star Resources Ltd.*		29,150		46,640
Handy & Harman Ltd.*		124		1,908
Haynes International, Inc.		242		13,383
Hecla Mining Co.		32,095		126,775
Horsehead Holding Corp.*		4,979		54,172
Kaiser Aluminum Corp.		2,144		138,610
Materion Corp.		2,040		58,140
McEwen Mining, Inc.*		23,956		68,514
Metals USA Holdings Corp.		1,008		20,815
Molycorp, Inc.*		7,981		41,501
Olympic Steel, Inc.		946		22,609
Reliance Steel & Aluminum Co.		29,529		2,101,579
Revett Minerals, Inc.*		2,878		6,562
RTI International Metals, Inc.*		3,335		105,686
Schnitzer Steel Industries, Inc., Class A		2,719		72,489
Steel Dynamics, Inc.		18,976		301,149
Stillwater Mining Co.*		12,967		167,663
SunCoke Energy, Inc.*		2,378		38,833
Tahoe Resources, Inc.*		6,932		121,934
United States Steel Corp.		15,989		311,786
Universal Stainless & Alloy Products, Inc.*		785		28,535
Vista Gold Corp.*		6,470		13,975
Walter Energy, Inc.		6,984		199,044
Worthington Industries, Inc.		5,826		180,489
				8,288,847
Paper & Forest Products (0.2%)
Boise Cascade Co.*		3,560		120,827
Buckeye Technologies, Inc.		1,861		55,737
Clearwater Paper Corp.*		560		29,506
Domtar Corp.		3,782		293,559
KapStone Paper and Packaging Corp.		4,504		125,211
Louisiana-Pacific Corp.*		15,302		330,523
Neenah Paper, Inc.		725		22,301
P.H. Glatfelter Co.		3,937		92,047
Resolute Forest Products*		8,895		143,921
Schweitzer-Mauduit International, Inc.		936		36,251
Wausau Paper Corp.		259		2,792
				1,252,675
Total Materials				35,605,396
Telecommunication Services (0.3%)
Diversified Telecommunication Services (0.1%)
Cbeyond, Inc.*		2,922		21,710
Cincinnati Bell, Inc.*		14,344		46,761
Consolidated Communications Holdings, Inc.		1,592		27,940
Fairpoint Communications, Inc.*		475		3,548
Frontier Communications Corp.		111,167		442,445
Hawaiian Telcom Holdco, Inc.*		1,196		27,592
IDT Corp., Class B		163		1,966
inContact, Inc.*		347		2,807
Iridium Communications, Inc.*		4,913		29,576
Level 3 Communications, Inc.*		8,824		179,039
magicJack VocalTec Ltd.*		526		7,364
Neutral Tandem, Inc.		3,213		10,507
ORBCOMM, Inc.*		2,106		10,972
Premiere Global Services, Inc.*		4,400		48,356
Vonage Holdings Corp.*		9,503		27,464
				888,047
Wireless Telecommunication Services (0.2%)
Clearwire Corp., Class A*		38,994		126,341
Leap Wireless International, Inc.*		4,578		26,964

See Notes to Portfolio of Investments.

122

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
MetroPCS Communications, Inc.*		33,852	$	368,987
NII Holdings, Inc.*		19,070		82,573
Shenandoah Telecommunications Co.		2,688		40,938
Telephone & Data Systems, Inc.		10,560		222,499
U.S. Cellular Corp.*		1,432		51,552
USA Mobility, Inc.		2,422		32,140
				951,994
Total Telecommunication Services				1,840,041
Utilities (3.9%)
Electric Utilities (1.6%)
ALLETE, Inc.		4,272		209,413
Cleco Corp.		31,202		1,467,430
El Paso Electric Co.		4,473		150,516
Empire District Electric Co.		4,682		104,877
Great Plains Energy, Inc.		14,983		347,456
Hawaiian Electric Industries, Inc.		10,662		295,444
IDACORP, Inc.		5,585		269,588
ITC Holdings Corp.		12,700		1,133,602
MGE Energy, Inc.		2,616		145,031
NV Energy, Inc.		97,850		1,959,935
OGE Energy Corp.		10,973		767,891
Otter Tail Corp.		3,784		117,834
Pepco Holdings, Inc.		25,256		540,478
Pinnacle West Capital Corp.		12,159		703,885
PNM Resources, Inc.		8,758		203,974
Portland General Electric Co.		8,419		255,348
UIL Holdings Corp.		5,656		223,921
Unitil Corp.		1,578		44,389
UNS Energy Corp.		4,507		220,573
Westar Energy, Inc.		13,957		463,093
				9,624,678
Gas Utilities (0.9%)
AGL Resources, Inc.		13,015		545,979
Atmos Energy Corp.		10,016		427,583
Chesapeake Utilities Corp.		1,093		53,612
Delta Natural Gas Co., Inc.		716		15,652
Laclede Group, Inc.		2,570		109,739
National Fuel Gas Co.		8,059		494,420
New Jersey Resources Corp.		4,676		209,719
Northwest Natural Gas Co.		3,050		133,651
Piedmont Natural Gas Co., Inc.		7,642		251,269
Questar Corp.		15,471		376,409
South Jersey Industries, Inc.		2,705		150,371
Southwest Gas Corp.		5,151		244,466
UGI Corp.		61,170		2,348,316
WGL Holdings, Inc.		5,809		256,177
				5,617,363
Independent Power Producers & Energy Traders (0.2%)
Atlantic Power Corp.		12,194		60,116
Genie Energy Ltd., Class B		1,682		15,575
NRG Energy, Inc.		35,663		944,713
Ormat Technologies, Inc.		1,310		27,052
				1,047,456
Multi-Utilities (1.0%)
Alliant Energy Corp.		12,299		617,164
Avista Corp.		6,590		180,566
Black Hills Corp.		4,906		216,060
CH Energy Group, Inc.		1,662		108,678
CMS Energy Corp.		63,864		1,784,360
Integrys Energy Group, Inc.		8,680		504,829
MDU Resources Group, Inc.		20,954		523,641
NorthWestern Corp.		4,086		162,868
SCANA Corp.		12,995		664,824
TECO Energy, Inc.		23,888		425,684
Vectren Corp.		9,089		321,933
Wisconsin Energy Corp.		23,600		1,012,204
				6,522,811
Water Utilities (0.2%)
American States Water Co.		1,927		110,938
American Water Works Co., Inc.		19,548		810,069
Aqua America, Inc.		13,745		432,143
Artesian Resources Corp., Class A		857		19,257
Cadiz, Inc.*		157		1,061
California Water Service Group		2,420		48,158
Connecticut Water Service, Inc.		358		10,464
Consolidated Water Co., Ltd.		1,699		16,820
Middlesex Water Co.		1,752		34,199
SJW Corp.		1,110		29,415
York Water Co.		369		6,937
				1,519,461
Total Utilities				24,331,769
Total Common Stocks (79.4%) (Cost $ 387,306,613)				491,795,842
INVESTMENT COMPANY:
Investment Company (0.0%)
Firsthand Technology Value Fund, Inc.* (Cost $ 18,457)		971		18,730
Total Investments (79.4%) (Cost $ 387,325,070)				491,814,572
Other Assets Less Liabilities (20.6%)				127,574,453
Net Assets (100%)			$	619,389,025

* Non-income producing.

† Securities (totaling $14,160 or 0.0% of net assets) at fair value by management.

§ Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2013, the market value of these securities amounted to $14,130 or 0.0% of net assets. Securities denoted with “§” but without “b” have been determined to be liquid under the guidelines established by the Board of Trustees. To the extent any securities might provide a right to demand registration, such rights have not been relied upon when determining liquidity.

(b) Illiquid Security.

See Notes to Portfolio of Investments.

123

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Purchases
Russell 2000 Mini Index		247		June-13	$	22,798,517	$	23,437,830	$	639,313
S&P MidCap 400 E-Mini Index		803		June-13		89,396,565		92,425,300		3,028,735
									$	3,668,048

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) (a)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	57,723,483	$	2,572	$	—	$	57,726,055
Consumer Staples		28,335,650		8,534		—		28,344,184
Energy		38,151,316		—		14,130		38,165,446
Financials		153,705,461		1,323		—		153,706,784
Health Care		35,857,248		—		—		35,857,248
Industrials		70,583,952		—		—		70,583,952
Information Technology		45,634,937		—		30		45,634,967
Materials		34,186,333		1,419,063		—		35,605,396
Telecommunication Services		1,840,041		—		—		1,840,041
Utilities		24,331,769		—		—		24,331,769
Futures		3,668,048		—		—		3,668,048
Investment Companies
Investment Companies		18,730		—		—		18,730
Total Assets	$	494,036,968	$	1,431,492	$	14,160	$	495,482,620
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	494,036,968	$	1,431,492	$	14,160	$	495,482,620

(a) Securities with a market value of $199,188 transferred from Level 1 to Level 2 since the beginning of the period due to inactive trading.

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

	Investments in Common Stocks- Energy		Investments in Rights-Information Technology
Balance as of 12/31/12	$	14,130	$	30
Total gains or losses (realized/unrealized) included in earnings		—		—
Purchases		—		—
Sales		—		—
Issuances		—		—
Settlements		—		—
Transfers into Level 3		—		—
Transfers out of Level 3		—		—
Balance as of 3/31/13	$	14,130	$	30
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	—	$	—

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	32,368,768
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	42,990,378

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	122,532,169
Aggregate gross unrealized depreciation		(19,363,308	)
Net unrealized appreciation	$	103,168,861
Federal income tax cost of investments	$	388,645,711

See Notes to Portfolio of Investments.

125

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PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
LONG-TERM DEBT SECURITIES:
Asset-Backed and Mortgage-Backed Securities (2.6%)
Asset-Backed Securities (0.6%)
Aircraft Certificate Owner Trust,
Series 2003-1A D
6.455%, 9/20/22§	$	177,341	$	180,001
Series 2003-1A E
7.001%, 9/20/22§†		3,900,000		3,980,336
American Money Management Corp.,
Series 2006-6A A1A
0.513%, 5/3/18(l)§		351,294		348,764
Black Diamond CLO 2005-1 Delaware Corp.,
Series 2005-1A A1A
0.530%, 6/20/17(l)§		12,165		12,150
BlueMountain CLO Ltd.,
Series 2005-1A A1F
0.528%, 11/15/17(l)§		191,720		190,138
Franklin CLO Ltd.,
Series 5A A2
0.540%, 6/15/18(l)§		960,060		940,533
Harvest CLO S.A.,
Series IX A1
0.827%, 3/29/17(l)(m)	EUR	250,859		318,172
Kingsland I Ltd.,
Series 2005-1A A1A
0.530%, 6/13/19(l)§	$	743,166		739,078
				6,709,172
Non-Agency CMO (2.0%)
Adjustable Rate Mortgage Trust,
Series 2005-5 2A1
3.079%, 9/25/35(l)		786,733		723,906
Alternative Loan Trust,
Series 2006-OA22 A1
0.364%, 2/25/47(l)		325,620		254,699
Banc of America Funding Corp.,
Series 2004-A 1A3
5.602%, 9/20/34(l)		633,306		652,087
Banc of America Large Loan Trust,
Series 2010-HLTN
2.503%, 11/15/15(l)§		2,624,323		2,638,670
Banc of America Re-Remic Trust,
Series 2009-UB1 A4A
5.614%, 6/24/50(l)§		500,000		566,875
Bear Stearns Adjustable Rate Mortgage Trust,
Series 2003-9 2A1
3.018%, 2/25/34(l)		487,874		481,391
Bear Stearns Alt-A Trust,
Series 2005-7 22A1
2.926%, 9/25/35(l)		572,048		476,440
Citigroup Mortgage Loan Trust, Inc.,
Series 2005-3 2A2A
2.693%, 8/25/35(l)		195,664		198,536
Commercial Mortgage Pass Through Certificates,
Series 2010-C1 A1
3.156%, 7/10/46§		2,003,434		2,100,658
Credit Suisse Mortgage Capital Certificates,
Series 2010-RR1 2A
5.695%, 9/15/40(l)§		700,000		807,164
Series 2010-RR1 3A
5.623%, 6/10/49(l)§		700,000		799,845
Series 2010-RR7 2A
5.467%, 9/18/39(l)§		784,000		881,299
Deltek, Inc.,
10.000%, 10/10/19		700,000		709,625
EMF-NL B.V.,
Series 2008-APRX A2
1.002%, 4/17/41(l)(m)	EUR	974,238		1,062,838
Granite Master Issuer plc,
Series 2006-3 A7
0.403%, 12/20/54(l)	$	188,678		185,380
Series 2006-4 A6
0.383%, 12/20/54(l)		503,140		494,347
Greenpoint Mortgage Funding Trust,
Series 2007-AR1 3A1
0.304%, 2/25/37(l)		10,487		10,282
Greenpoint Mortgage Pass-Through Certificates,
Series 2003-1 A1
2.939%, 10/25/33(l)		478,293		494,462
GS Mortgage Securities Corp. II,
Series 2010-C1 A2
4.592%, 8/10/43§		1,500,000		1,716,514
Harborview Mortgage Loan Trust,
Series 2006-12 2A2A
0.393%, 1/19/38(l)		288,678		228,054
Merrill Lynch Mortgage Investors, Inc.,
Series 2005-2 3A
1.204%, 10/25/35(l)		328,524		313,719
Morgan Stanley Capital I, Inc.,
Series 1998-HF2 J
6.010%, 11/15/30§		3,000,000		2,994,484
Morgan Stanley Re-remic Trust,
Series 2009-GG10 A4A
5.787%, 8/12/45(l)§		800,000		919,186
OBP Depositor LLC Trust,
Series 2010-OBP A
4.646%, 7/15/45§		1,000,000		1,146,757
RBSCF Trust,
Series 2009-RR1 JPA
6.068%, 9/17/39(l)§		800,000		898,385
Series 2010-RR3 JPMA
5.420%, 1/16/49(l)§		1,000,000		1,146,055
Series 2010-RR4 CMLA
6.005%, 12/16/49(l)§		500,000		588,701
Structured Asset Mortgage Investments Trust,
Series 2005-AR5 A1
0.453%, 7/19/35(l)		156,642		150,468
Wachovia Bank Commercial Mortgage Trust,
Series 2006-C28 A2
5.500%, 10/15/48		397,583		401,268
WaMu Mortgage Pass-Through Certificates,
Series 2002-AR9 1A
1.578%, 8/25/42(l)		58,081		57,137
Series 2005-AR17 A1A1
0.474%, 12/25/45(l)		251,584		231,791
				24,331,023
Total Asset-Backed and Mortgage-Backed Securities				31,040,195

See Notes to Portfolio of Investments.

126

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Convertible Bonds (0.1%)
Energy (0.1%)
Metals & Mining (0.0%)
Alpha Appalachia Holdings, Inc.
3.250%, 8/1/15	$	400,000	$	385,000
Oil, Gas & Consumable Fuels (0.1%)
Chesapeake Energy Corp.
2.750%, 11/15/35		575,000		575,719
Total Energy				960,719
Total Convertible Bonds				960,719
Corporate Bonds (35.7%)
Consumer Discretionary (3.2%)
Auto Components (0.0%)
Johnson Controls, Inc.
5.000%, 3/30/20		100,000		113,826
Distributors (0.2%)
American Tire Distributors, Inc.
9.750%, 6/1/17		1,450,000		1,544,250
HD Supply, Inc.
11.000%, 4/15/20		350,000		422,625
7.500%, 7/15/20§		400,000		420,000
				2,386,875
Diversified Consumer Services (0.1%)
ServiceMaster Co.
7.000%, 8/15/20§		1,000,000		1,035,000
Hotels, Restaurants & Leisure (0.6%)
Carnival Corp.
1.875%, 12/15/17		100,000		100,055
Darden Restaurants, Inc.
4.500%, 10/15/21		100,000		104,544
Diamond Resorts Corp.
12.000%, 8/15/18		750,000		832,500
Graton Economic Development Authority
9.625%, 9/1/19§		1,325,000		1,484,000
Greektown Superholdings, Inc.
Series A
13.000%, 7/1/15		1,200,000		1,287,000
Hyatt Hotels Corp.
3.875%, 8/15/16		100,000		106,739
5.375%, 8/15/21		100,000		111,131
International Game Technology
5.500%, 6/15/20		100,000		107,624
Landry’s, Inc.
9.375%, 5/1/20§		950,000		1,023,625
Marriott International, Inc.
3.250%, 9/15/22		200,000		199,971
McDonald’s Corp.
5.350%, 3/1/18		100,000		119,300
3.500%, 7/15/20		150,000		165,158
Sabre, Inc.
8.500%, 5/15/19§		1,115,000		1,212,563
Starbucks Corp.
6.250%, 8/15/17		100,000		119,933
Wyndham Worldwide Corp.
2.500%, 3/1/18		150,000		150,750
Yum! Brands, Inc.
4.250%, 9/15/15		250,000		268,048
5.300%, 9/15/19		100,000		116,386
				7,509,327
Household Durables (0.1%)
Mohawk Industries, Inc.
3.850%, 2/1/23		200,000		203,420
Newell Rubbermaid, Inc.
4.700%, 8/15/20		100,000		110,336
NVR, Inc.
3.950%, 9/15/22		150,000		154,073
Tupperware Brands Corp.
4.750%, 6/1/21		100,000		105,757
Whirlpool Corp.
4.850%, 6/15/21		100,000		109,968
				683,554
Internet & Catalog Retail (0.1%)
Amazon.com, Inc.
2.500%, 11/29/22		200,000		194,347
Catalina Marketing Corp.
10.500%, 10/1/15§		650,000		666,250
Expedia, Inc.
5.950%, 8/15/20		200,000		222,500
				1,083,097
Media (1.9%)
CBS Corp.
8.875%, 5/15/19		100,000		133,802
5.750%, 4/15/20		100,000		118,027
Clear Channel Worldwide Holdings, Inc.
Series A
7.625%, 3/15/20		1,000,000		1,041,250
Comcast Corp.
6.500%, 1/15/15		400,000		441,091
5.900%, 3/15/16		300,000		342,916
6.500%, 1/15/17		300,000		357,980
5.700%, 7/1/19		100,000		121,738
5.150%, 3/1/20		150,000		177,585
3.125%, 7/15/22		250,000		255,882
COX Communications, Inc.
5.450%, 12/15/14		64,000		69,227
5.500%, 10/1/15		100,000		111,530
Crown Media Holdings, Inc.
10.500%, 7/15/19		1,000,000		1,127,500
DCP LLC/DCP Corp.
10.750%, 8/15/15§		1,175,000		1,242,563
DIRECTV Holdings LLC/DIRECTV Financing Co., Inc.
3.550%, 3/15/15		195,000		204,489
5.875%, 10/1/19		300,000		355,405
5.000%, 3/1/21		300,000		333,785
Discovery Communications LLC
3.700%, 6/1/15		150,000		159,065
5.050%, 6/1/20		200,000		230,892
European Media Capital S.A.
10.000%, 2/1/15(b)§		1,984,553		1,905,472
Good Sam Enterprises LLC
11.500%, 12/1/16		1,200,000		1,282,500
Igloo Holdings Corp.
8.250%, 12/15/17 PIK§		1,025,000		1,049,344
Intelsat Jackson Holdings S.A.
7.250%, 10/15/20		850,000		932,875
Interpublic Group of Cos., Inc.
2.250%, 11/15/17		150,000		148,875
Live Nation Entertainment, Inc.
7.000%, 9/1/20§		1,325,000		1,417,750
Local Insight Regatta Holdings, Inc.
11.000%, 12/1/17(h)*		1,916,000		19

See Notes to Portfolio of Investments.

127

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Mood Media Corp.
9.250%, 10/15/20§	$	1,100,000	$	1,201,750
NBCUniversal Media LLC
5.150%, 4/30/20		250,000		294,632
4.375%, 4/1/21		400,000		447,637
Network Communications, Inc.
8.600%, 1/14/20 PIK(b)§†		2,218,211		748,646
News America, Inc.
8.000%, 10/17/16		400,000		492,323
Omnicom Group, Inc.
6.250%, 7/15/19		200,000		240,206
3.625%, 5/1/22		250,000		252,964
Reed Elsevier Capital, Inc.
8.625%, 1/15/19		150,000		192,049
Thomson Reuters Corp.
6.500%, 7/15/18		350,000		432,290
Time Warner Cable, Inc.
3.500%, 2/1/15		100,000		104,613
5.850%, 5/1/17		400,000		464,201
8.250%, 4/1/19		300,000		390,588
5.000%, 2/1/20		200,000		227,574
Time Warner, Inc.
5.875%, 11/15/16		200,000		232,570
4.875%, 3/15/20		500,000		568,776
3.400%, 6/15/22		100,000		102,237
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH
5.500%, 1/15/23§		725,000		746,750
Viacom, Inc.
4.375%, 9/15/14		150,000		157,473
6.250%, 4/30/16		134,000		155,127
5.625%, 9/15/19		250,000		298,585
Walt Disney Co.
6.000%, 7/17/17		100,000		119,685
3.750%, 6/1/21		150,000		164,427
2.350%, 12/1/22		150,000		147,515
Wolverine Healthcare Analytics, Inc.
5.750%, 5/14/17		2,500		2,531
WPP Finance UK Corp.
5.875%, 6/15/14		200,000		211,139
				21,957,850
Multiline Retail (0.1%)
Family Dollar Stores, Inc.
5.000%, 2/1/21		100,000		107,506
Kohl’s Corp.
6.250%, 12/15/17		100,000		116,167
Macy’s Retail Holdings, Inc.
5.750%, 7/15/14		160,000		169,600
5.900%, 12/1/16		43,000		49,773
Nordstrom, Inc.
6.750%, 6/1/14		100,000		107,109
Target Corp.
1.125%, 7/18/14		105,000		106,082
6.000%, 1/15/18		350,000		425,370
				1,081,607
Specialty Retail (0.1%)
AutoZone, Inc.
4.000%, 11/15/20		100,000		106,657
Home Depot, Inc.
5.400%, 3/1/16		450,000		508,921
4.400%, 4/1/21		150,000		172,579
Lowe’s Cos., Inc.
2.125%, 4/15/16		150,000		156,288
4.625%, 4/15/20		250,000		287,577
O’Reilly Automotive, Inc.
4.875%, 1/14/21		100,000		111,757
Staples, Inc.
4.375%, 1/12/23		100,000		100,801
				1,444,580
Textiles, Apparel & Luxury Goods (0.0%)
Cintas Corp. No. 2
6.125%, 12/1/17		100,000		119,528
Total Consumer Discretionary				37,415,244
Consumer Staples (2.7%)
Beverages (0.6%)
Anheuser-Busch InBev Worldwide, Inc.
0.851%, 1/27/14(l)		2,200,000		2,208,569
0.800%, 7/15/15		250,000		250,373
2.875%, 2/15/16		250,000		264,742
1.375%, 7/15/17		69,000		69,546
7.750%, 1/15/19		300,000		395,065
5.375%, 1/15/20		400,000		480,582
2.500%, 7/15/22		300,000		294,288
2.625%, 1/17/23		200,000		196,282
Beam, Inc.
6.375%, 6/15/14		100,000		106,765
Brown-Forman Corp.
2.500%, 1/15/16		100,000		104,570
Coca-Cola Co.
0.750%, 3/13/15		100,000		100,624
1.500%, 11/15/15		200,000		204,570
1.800%, 9/1/16		400,000		413,979
3.150%, 11/15/20		200,000		215,981
Coca-Cola Enterprises, Inc.
3.500%, 9/15/20		150,000		158,067
3.250%, 8/19/21		100,000		103,792
Diageo Capital plc
5.750%, 10/23/17		200,000		238,553
Diageo Finance B.V.
3.250%, 1/15/15		150,000		156,615
Dr. Pepper Snapple Group, Inc.
2.600%, 1/15/19		100,000		104,029
3.200%, 11/15/21		100,000		103,573
PepsiCo, Inc.
0.700%, 8/13/15		100,000		100,137
0.700%, 2/26/16		150,000		150,005
2.500%, 5/10/16		300,000		316,184
1.250%, 8/13/17		150,000		150,274
7.900%, 11/1/18		250,000		332,715
4.500%, 1/15/20		200,000		230,766
				7,450,646
Food & Staples Retailing (0.8%)
BI-LO LLC/BI-LO Finance Corp.
9.250%, 2/15/19§		600,000		648,000
Blue Buffalo Company, Ltd.
4.750%, 8/2/19		796,005		803,468
Costco Wholesale Corp.
5.500%, 3/15/17		100,000		117,235
CVS Caremark Corp.
3.250%, 5/18/15		250,000		262,950
5.750%, 6/1/17		200,000		236,402
CVS Pass-Through Trust
5.789%, 1/10/26§		863,997		989,724
7.507%, 1/10/32§		1,310,865		1,711,984

See Notes to Portfolio of Investments.

128

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
D.S Waters Enterprise LP
10.500%, 8/15/17	$	1,188,000	$	1,217,700
Delhaize Group S.A.
4.125%, 4/10/19		100,000		105,543
Kroger Co.
6.400%, 8/15/17		100,000		118,978
6.150%, 1/15/20		100,000		121,470
Safeway, Inc.
6.350%, 8/15/17		200,000		232,786
5.000%, 8/15/19		150,000		167,829
Walgreen Co.
1.800%, 9/15/17		100,000		101,136
5.250%, 1/15/19		150,000		175,156
3.100%, 9/15/22		250,000		248,746
Wal-Mart Stores, Inc.
1.625%, 4/15/14		200,000		202,868
2.875%, 4/1/15		500,000		524,312
5.800%, 2/15/18		250,000		303,881
3.250%, 10/25/20		450,000		482,998
				8,773,166
Food Products (0.6%)
Archer-Daniels-Midland Co.
4.479%, 3/1/21		250,000		283,807
Campbell Soup Co.
3.375%, 8/15/14		100,000		103,926
4.250%, 4/15/21		100,000		110,637
ConAgra Foods, Inc.
7.000%, 4/15/19		150,000		187,725
3.200%, 1/25/23		150,000		148,938
General Mills, Inc.
5.200%, 3/17/15		100,000		108,740
5.650%, 2/15/19		200,000		240,766
Hershey Co.
5.000%, 4/1/13		1,000,000		999,989
1.500%, 11/1/16		80,000		81,993
Hillshire Brands Co.
2.750%, 9/15/15		200,000		206,379
Hormel Foods Corp.
4.125%, 4/15/21		100,000		111,312
Hostess Brands, Inc.
0.000%, 3/6/20		700,000		714,000
Ingredion, Inc.
3.200%, 11/1/15		100,000		104,924
J.M. Smucker Co.
3.500%, 10/15/21		150,000		157,708
Kellogg Co.
4.450%, 5/30/16		100,000		110,362
4.000%, 12/15/20		100,000		111,124
Kraft Foods Group, Inc.
6.125%, 8/23/18		250,000		302,875
3.500%, 6/6/22		200,000		207,946
McCormick & Co., Inc.
3.900%, 7/15/21		100,000		108,863
Mead Johnson Nutrition Co.
4.900%, 11/1/19		100,000		113,945
Mondelez International, Inc.
4.125%, 2/9/16		250,000		271,693
6.125%, 2/1/18		400,000		479,693
5.375%, 2/10/20		500,000		591,914
Tyson Foods, Inc.
4.500%, 6/15/22		500,000		543,000
				6,402,259
Household Products (0.4%)
Clorox Co.
3.550%, 11/1/15		200,000		211,932
Colgate-Palmolive Co.
3.150%, 8/5/15		300,000		318,483
Energizer Holdings, Inc.
4.700%, 5/19/21		150,000		159,270
Kimberly-Clark Corp.
6.125%, 8/1/17		150,000		181,816
7.500%, 11/1/18		100,000		132,532
3.875%, 3/1/21		100,000		111,954
Procter & Gamble Co.
3.500%, 2/15/15		300,000		316,845
4.850%, 12/15/15		200,000		222,822
4.700%, 2/15/19		200,000		235,361
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer (Luxembourg)
5.750%, 10/15/20		1,550,000		1,577,125
Spectrum Brands, Inc.
6.750%, 3/15/20		1,500,000		1,618,125
				5,086,265
Personal Products (0.1%)
Avon Products, Inc.
5.000%, 3/15/23		200,000		204,245
Revlon Consumer Products Corp.
5.750%, 2/15/21§		800,000		802,000
				1,006,245
Tobacco (0.2%)
Altria Group, Inc.
7.750%, 2/6/14		500,000		529,980
4.125%, 9/11/15		300,000		323,406
9.700%, 11/10/18		102,000		141,139
9.250%, 8/6/19		250,000		347,078
4.750%, 5/5/21		200,000		224,655
2.850%, 8/9/22		200,000		194,992
Lorillard Tobacco Co.
8.125%, 6/23/19		165,000		208,959
6.875%, 5/1/20		100,000		121,307
Philip Morris International, Inc.
5.650%, 5/16/18		400,000		479,271
2.625%, 3/6/23		150,000		146,749
Reynolds American, Inc.
3.250%, 11/1/22		100,000		98,784
				2,816,320
Total Consumer Staples				31,534,901
Energy (3.0%)
Energy Equipment & Services (0.2%)
Cameron International Corp.
6.375%, 7/15/18		100,000		120,474
Diamond Offshore Drilling, Inc.
5.875%, 5/1/19		165,000		200,154
Ensco plc
3.250%, 3/15/16		200,000		212,260
4.700%, 3/15/21		300,000		331,921
Halliburton Co.
6.150%, 9/15/19		100,000		125,544
3.250%, 11/15/21		100,000		105,984
Rowan Cos., Inc.
7.875%, 8/1/19		65,000		80,150
Transocean, Inc.
6.000%, 3/15/18		100,000		113,371
6.500%, 11/15/20		150,000		173,823

See Notes to Portfolio of Investments.

129

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
6.375%, 12/15/21	$	150,000	$	175,333
3.800%, 10/15/22		100,000		98,393
Weatherford International Ltd.
6.000%, 3/15/18		200,000		227,697
9.625%, 3/1/19		200,000		260,431
				2,225,535
Oil, Gas & Consumable Fuels (2.8%)
American Petroleum Tankers Parent LLC/AP Tankers Co.
10.250%, 5/1/15		500,000		516,250
Anadarko Petroleum Corp.
5.950%, 9/15/16		200,000		229,370
8.700%, 3/15/19		250,000		336,320
Apache Corp.
5.625%, 1/15/17		250,000		290,773
Atlas Energy Holdings Operating Co. LLC/Atlas Resource Finance Corp.
7.750%, 1/15/21§		500,000		481,250
Buckeye Partners LP
5.500%, 8/15/19		75,000		83,446
4.875%, 2/1/21		200,000		214,011
Canadian Natural Resources Ltd.
4.900%, 12/1/14		100,000		106,788
5.700%, 5/15/17		200,000		232,737
5.900%, 2/1/18		100,000		117,996
Cenovus Energy, Inc.
4.500%, 9/15/14		100,000		105,057
5.700%, 10/15/19		150,000		180,586
Chesapeake Energy Corp.
5.750%, 3/15/23		300,000		304,500
Chevron Corp.
2.355%, 12/5/22		300,000		297,888
ConocoPhillips Co.
5.750%, 2/1/19		300,000		368,378
2.400%, 12/15/22		150,000		147,524
Devon Energy Corp.
2.400%, 7/15/16		100,000		103,667
4.000%, 7/15/21		150,000		160,914
Ecopetrol S.A.
7.625%, 7/23/19		250,000		312,264
Enbridge Energy Partners LP
9.875%, 3/1/19		200,000		272,990
Enbridge, Inc.
5.600%, 4/1/17		200,000		230,629
EnCana Corp.
5.900%, 12/1/17		100,000		118,081
6.500%, 5/15/19		100,000		122,241
EnCana Holdings Finance Corp.
5.800%, 5/1/14		200,000		210,754
Energy Transfer Partners LP
9.000%, 4/15/19		300,000		394,877
3.600%, 2/1/23		150,000		148,962
Energy XXI Gulf Coast, Inc.
9.250%, 12/15/17		800,000		900,000
Enterprise Products Operating LLC
1.250%, 8/13/15		73,000		73,474
6.300%, 9/15/17		100,000		120,094
5.250%, 1/31/20		200,000		234,580
3.350%, 3/15/23		200,000		203,399
EOG Resources, Inc.
2.950%, 6/1/15		250,000		262,266
5.625%, 6/1/19		200,000		245,041
EQT Corp.
8.125%, 6/1/19		100,000		123,417
Foresight Energy LLC/Foresight Energy Corp.
9.625%, 8/15/17§		1,225,000		1,313,812
Gazprom S.A. (Gaz Capital S.A.)
5.092%, 11/29/15§		400,000		427,500
Hess Corp.
8.125%, 2/15/19		150,000		193,801
Husky Energy, Inc.
5.900%, 6/15/14		105,000		111,743
7.250%, 12/15/19		150,000		195,194
Inergy Midstream LP/NRGM Finance Corp.
6.000%, 12/15/20§		1,300,000		1,355,250
Kinder Morgan Energy Partners LP
5.625%, 2/15/15		100,000		108,421
6.000%, 2/1/17		150,000		174,166
9.000%, 2/1/19		100,000		133,789
5.300%, 9/15/20		150,000		175,653
Kodiak Oil & Gas Corp.
8.125%, 12/1/19		1,100,000		1,240,250
Magellan Midstream Partners LP
6.550%, 7/15/19		100,000		123,877
4.250%, 2/1/21		100,000		110,133
Magnum Hunter Resources Corp.
9.750%, 5/15/20§		775,000		813,750
Marathon Oil Corp.
5.900%, 3/15/18		123,000		146,610
Marathon Petroleum Corp.
3.500%, 3/1/16		100,000		106,924
5.125%, 3/1/21		100,000		116,404
Nabors Industries, Inc.
9.250%, 1/15/19		300,000		386,401
Noble Energy, Inc.
8.250%, 3/1/19		200,000		262,277
Noble Holding International Ltd.
3.050%, 3/1/16		100,000		104,267
4.900%, 8/1/20		200,000		221,209
Occidental Petroleum Corp.
2.500%, 2/1/16		100,000		105,206
4.125%, 6/1/16		150,000		165,927
4.100%, 2/1/21		200,000		225,164
ONEOK Partners LP
3.250%, 2/1/16		100,000		105,564
8.625%, 3/1/19		100,000		132,587
3.375%, 10/1/22		150,000		149,203
Petrobras International Finance Co.
3.875%, 1/27/16		250,000		260,631
3.500%, 2/6/17		250,000		257,231
5.875%, 3/1/18		250,000		280,332
7.875%, 3/15/19		250,000		302,502
5.750%, 1/20/20		400,000		438,195
5.375%, 1/27/21		250,000		269,366
Petrohawk Energy Corp.
6.250%, 6/1/19		250,000		283,462
Petroleos Mexicanos
4.875%, 3/15/15		250,000		268,125
8.000%, 5/3/19		400,000		513,612
6.000%, 3/5/20		500,000		588,750
3.500%, 1/30/23§		225,000		223,875
Phillips 66
4.300%, 4/1/22		250,000		274,317
Pioneer Natural Resources Co.
7.500%, 1/15/20		250,000		318,047

See Notes to Portfolio of Investments.

130

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Plains All American Pipeline LP/Plains All American Finance Corp.
3.950%, 9/15/15	$	100,000	$	107,658
8.750%, 5/1/19		100,000		135,451
QR Energy LP/QRE Finance Corp.
9.250%, 8/1/20		1,025,000		1,086,500
Resolute Energy Corp.
8.500%, 5/1/20§		1,125,000		1,164,375
Samson Investment Co.
6.000%, 9/13/18		500,000		505,875
9.750%, 2/15/20§		625,000		664,062
Shell International Finance B.V.
4.300%, 9/22/19		350,000		404,972
4.375%, 3/25/20		200,000		231,821
2.375%, 8/21/22		175,000		173,520
Southwestern Energy Co.
4.100%, 3/15/22		350,000		369,730
Spectra Energy Capital LLC
6.200%, 4/15/18		250,000		301,037
Statoil ASA
2.900%, 10/15/14		250,000		259,507
5.250%, 4/15/19		250,000		301,632
Stone Energy Corp.
8.625%, 2/1/17		1,000,000		1,075,000
Suncor Energy, Inc.
6.100%, 6/1/18		300,000		363,137
Talisman Energy, Inc.
7.750%, 6/1/19		150,000		190,171
Tennessee Gas Pipeline Co. LLC
7.500%, 4/1/17		100,000		122,368
Total Capital Canada Ltd.
1.450%, 1/15/18		150,000		151,452
Total Capital International S.A.
2.875%, 2/17/22		250,000		258,233
Total Capital S.A.
3.125%, 10/2/15		350,000		370,941
4.450%, 6/24/20		200,000		229,919
4.125%, 1/28/21		100,000		112,536
TransCanada PipeLines Ltd.
3.400%, 6/1/15		200,000		211,646
7.125%, 1/15/19		100,000		127,093
3.800%, 10/1/20		200,000		223,066
2.500%, 8/1/22		100,000		97,075
6.350%, 5/15/67(l)		200,000		213,500
Transcontinental Gas Pipe Line Co. LLC
6.050%, 6/15/18		100,000		121,688
Valero Energy Corp.
9.375%, 3/15/19		200,000		273,078
Williams Partners LP
3.800%, 2/15/15		100,000		105,480
5.250%, 3/15/20		200,000		228,035
3.350%, 8/15/22		200,000		197,217
XTO Energy, Inc.
6.250%, 4/15/13		983,000		985,791
6.250%, 8/1/17		150,000		184,416
				32,782,033
Total Energy				35,007,568
Financials (12.7%)
Capital Markets (2.3%)
American Capital Holdings, Inc.
5.500%, 7/19/16		825,000		837,375
Ameriprise Financial, Inc.
5.650%, 11/15/15		100,000		112,598
Bank of New York Mellon Corp.
4.300%, 5/15/14		100,000		104,336
1.200%, 2/20/15		85,000		86,032
2.500%, 1/15/16		300,000		314,133
4.150%, 2/1/21		200,000		224,470
3.550%, 9/23/21		100,000		108,432
BlackRock, Inc.
3.500%, 12/10/14		200,000		209,979
5.000%, 12/10/19		200,000		236,619
Charles Schwab Corp.
4.450%, 7/22/20		100,000		113,539
3.225%, 9/1/22		100,000		102,056
CKE, Inc.
10.500%, 3/14/16 PIK§		739,375		781,889
Deutsche Bank AG/London
3.450%, 3/30/15		200,000		210,611
6.000%, 9/1/17		500,000		593,589
Eaton Vance Corp.
6.500%, 10/2/17		100,000		119,811
Franklin Resources, Inc.
3.125%, 5/20/15		100,000		105,241
Goldman Sachs Group, Inc.
6.000%, 5/1/14		500,000		527,120
3.300%, 5/3/15		250,000		260,341
3.700%, 8/1/15		300,000		316,395
5.350%, 1/15/16		1,000,000		1,108,821
0.734%, 3/22/16(l)		2,100,000		2,073,956
5.625%, 1/15/17		400,000		450,047
6.250%, 9/1/17		1,300,000		1,527,262
2.375%, 1/22/18		250,000		252,479
6.150%, 4/1/18		1,000,000		1,181,256
5.375%, 3/15/20		750,000		855,555
5.250%, 7/27/21		400,000		453,476
3.625%, 1/22/23		150,000		150,646
Jefferies Group LLC
5.125%, 4/13/18		400,000		436,882
Merrill Lynch & Co., Inc.
5.000%, 2/3/14		100,000		103,377
5.450%, 7/15/14		2,000,000		2,109,331
0.659%, 7/22/14(l)	EUR	400,000		511,224
0.764%, 1/15/15(l)	$	1,000,000		996,100
6.050%, 5/16/16		550,000		608,352
5.700%, 5/2/17		400,000		446,542
6.875%, 4/25/18		1,500,000		1,810,036
Morgan Stanley
6.000%, 5/13/14		500,000		527,714
4.100%, 1/26/15		250,000		262,050
6.000%, 4/28/15		300,000		327,416
5.375%, 10/15/15		500,000		546,075
1.750%, 2/25/16		250,000		251,995
5.750%, 10/18/16		500,000		562,302
5.550%, 4/27/17		500,000		566,080
7.300%, 5/13/19		750,000		931,222
5.500%, 1/26/20		250,000		286,359
5.750%, 1/25/21		300,000		345,177
5.500%, 7/28/21		120,000		137,589
3.750%, 2/25/23		300,000		301,106
Nomura Holdings, Inc.
4.125%, 1/19/16		100,000		105,840
2.000%, 9/13/16		100,000		99,471
6.700%, 3/4/20		150,000		178,627

See Notes to Portfolio of Investments.

131

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Northern Trust Corp.
4.625%, 5/1/14	$	140,000	$	146,337
3.450%, 11/4/20		150,000		161,633
Raymond James Financial, Inc.
8.600%, 8/15/19		100,000		128,755
SteelRiver Transmission Co. LLC
4.710%, 6/30/17(b)§		1,048,610		1,105,803
TD Ameritrade Holding Corp.
4.150%, 12/1/14		100,000		105,688
5.600%, 12/1/19		100,000		121,026
				27,638,173
Commercial Banks (3.6%)
American Express Centurion Bank
6.000%, 9/13/17		250,000		296,455
Australia & New Zealand Banking Group Ltd./New York
0.900%, 2/12/16		250,000		250,662
Banco do Brasil S.A./Cayman Islands
4.500%, 1/22/15§		100,000		103,991
3.875%, 10/10/22		200,000		192,929
Banco Santander S.A./Chile
1.902%, 1/19/16(l)§		3,100,000		3,022,084
Bancolombia S.A.
4.250%, 1/12/16		200,000		209,477
Bank of Montreal
1.400%, 9/11/17		200,000		199,953
2.550%, 11/6/22		300,000		293,194
Bank of Nova Scotia
3.400%, 1/22/15		250,000		262,081
2.900%, 3/29/16		350,000		370,928
4.375%, 1/13/21		150,000		171,118
Barclays Bank plc
3.900%, 4/7/15		150,000		158,758
5.125%, 1/8/20		200,000		229,986
5.140%, 10/14/20		200,000		214,622
BB&T Corp.
3.200%, 3/15/16		300,000		317,978
6.850%, 4/30/19		100,000		127,803
3.950%, 3/22/22		150,000		160,298
BBVA Senior Finance S.A.U.
3.250%, 5/16/14		250,000		251,517
BNP Paribas S.A.
3.250%, 3/11/15		500,000		518,439
5.000%, 1/15/21		350,000		394,617
3.250%, 3/3/23		150,000		145,065
Canadian Imperial Bank of Commerce
1.550%, 1/23/18		100,000		100,678
Comerica Bank
5.750%, 11/21/16		250,000		288,820
Commonwealth Bank of Australia/New York
1.250%, 9/18/15		250,000		252,350
1.900%, 9/18/17		250,000		255,937
Credit Suisse AG/New York
5.500%, 5/1/14		500,000		526,065
3.500%, 3/23/15		300,000		315,706
4.375%, 8/5/20		350,000		393,629
Discover Bank/Delaware
7.000%, 4/15/20		200,000		249,000
DnB Bank ASA
3.200%, 4/3/17§		1,400,000		1,478,846
Fifth Third Bancorp
3.625%, 1/25/16		200,000		213,266
5.450%, 1/15/17		100,000		111,714
First Horizon National Corp.
5.375%, 12/15/15		200,000		218,188
HSBC Bank USA/New York
4.625%, 4/1/14		200,000		207,898
6.000%, 8/9/17		250,000		294,699
HSBC Holdings plc
5.100%, 4/5/21		200,000		231,296
4.875%, 1/14/22		250,000		284,545
Intesa Sanpaolo S.p.A.
3.125%, 1/15/16		200,000		195,510
JPMorgan Chase Bank N.A.
0.879%, 5/31/17(l)	EUR	900,000		1,132,899
6.000%, 10/1/17	$	600,000		708,866
KeyBank N.A./Ohio
7.413%, 5/6/15		100,000		113,131
KeyCorp
5.100%, 3/24/21		250,000		290,421
KfW
2.625%, 3/3/15		900,000		938,191
0.625%, 4/24/15		250,000		251,096
2.625%, 2/16/16		1,050,000		1,113,675
5.125%, 3/14/16		1,000,000		1,133,350
0.500%, 4/19/16		400,000		399,408
4.500%, 7/16/18		500,000		586,598
4.875%, 6/17/19		400,000		483,657
4.000%, 1/27/20		500,000		580,537
2.750%, 9/8/20		500,000		538,699
6.250%, 5/19/21	AUD	2,200,000		2,583,585
2.625%, 1/25/22	$	500,000		523,300
2.125%, 1/17/23		350,000		348,531
Landwirtschaftliche Rentenbank
2.500%, 2/15/16		400,000		421,679
5.125%, 2/1/17		500,000		581,526
1.375%, 10/23/19		57,000		56,932
Mellon Funding Corp.
5.000%, 12/1/14		200,000		213,720
National Australia Bank Ltd./New York
3.000%, 1/20/23		250,000		247,242
Nordea Bank AB
1.205%, 1/14/14(l)§		2,000,000		2,014,394
Oesterreichische Kontrollbank AG
4.875%, 2/16/16		400,000		446,827
PNC Funding Corp.
3.000%, 5/19/14		300,000		308,152
2.700%, 9/19/16		250,000		263,090
5.625%, 2/1/17		250,000		285,274
5.125%, 2/8/20		400,000		469,132
Rabobank Nederland N.V.
2.125%, 10/13/15		200,000		206,119
3.875%, 2/8/22		500,000		525,664
Royal Bank of Canada
2.625%, 12/15/15		300,000		314,308
0.850%, 3/8/16		150,000		149,863
2.300%, 7/20/16		300,000		312,915
Royal Bank of Scotland Group plc
4.875%, 3/16/15		500,000		535,611
Royal Bank of Scotland plc
3.950%, 9/21/15		350,000		371,904
5.625%, 8/24/20		250,000		290,593
9.500%, 3/16/22(b)(l)(m)		100,000		115,250
Sovereign Bank/Delaware
8.750%, 5/30/18		100,000		122,013
Sumitomo Mitsui Banking Corp.
1.800%, 7/18/17		250,000		254,308

See Notes to Portfolio of Investments.

132

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
SunTrust Banks, Inc.
3.600%, 4/15/16	$	200,000	$	214,155
SunTrust Banks, Inc./Georgia
7.250%, 3/15/18		100,000		123,859
Svenska Handelsbanken AB
3.125%, 7/12/16		200,000		212,286
Toronto-Dominion Bank
2.500%, 7/14/16		400,000		418,969
2.375%, 10/19/16		100,000		104,617
U.S. Bancorp
4.200%, 5/15/14		150,000		156,492
3.150%, 3/4/15		200,000		210,171
2.450%, 7/27/15		100,000		104,263
3.442%, 2/1/16		150,000		158,023
3.000%, 3/15/22		250,000		258,254
2.950%, 7/15/22		125,000		124,713
U.S. Bank N.A./Ohio
4.950%, 10/30/14		200,000		213,740
4.800%, 4/15/15		100,000		108,253
UBS AG/Connecticut
1.301%, 1/28/14(l)		59,000		59,373
3.875%, 1/15/15		250,000		264,159
5.875%, 7/15/16		250,000		280,406
5.875%, 12/20/17		146,000		173,250
5.750%, 4/25/18		147,000		174,286
4.875%, 8/4/20		98,000		112,626
UnionBanCal Corp.
3.500%, 6/18/22		200,000		208,322
Wachovia Bank N.A.
6.000%, 11/15/17		500,000		596,134
Wachovia Corp.
5.250%, 8/1/14		350,000		370,613
5.750%, 2/1/18		300,000		359,044
Wells Fargo & Co.
3.750%, 10/1/14		350,000		366,031
3.625%, 4/15/15		200,000		211,211
1.500%, 7/1/15		500,000		507,975
5.125%, 9/15/16		250,000		282,694
2.100%, 5/8/17		200,000		206,267
5.625%, 12/11/17		650,000		770,304
3.500%, 3/8/22		250,000		261,502
Westpac Banking Corp.
4.200%, 2/27/15		400,000		425,737
2.000%, 8/14/17		200,000		206,354
4.875%, 11/19/19		300,000		349,593
Zions Bancorp
7.750%, 9/23/14		100,000		108,722
				42,444,960
Consumer Finance (1.6%)
Ally Financial, Inc.
3.492%, 2/11/14(l)		1,700,000		1,725,058
8.000%, 11/1/31		475,000		598,500
American Express Co.
6.150%, 8/28/17		550,000		655,142
7.000%, 3/19/18		1,850,000		2,305,847
8.125%, 5/20/19		150,000		201,048
2.650%, 12/2/22		150,000		147,080
6.800%, 9/1/66(l)		150,000		160,500
American Express Credit Corp.
1.750%, 6/12/15		117,000		119,420
2.750%, 9/15/15		250,000		261,357
2.800%, 9/19/16		250,000		265,072
Capital One Bank USA N.A.
8.800%, 7/15/19		287,000		392,622
Capital One Financial Corp.
7.375%, 5/23/14		300,000		322,161
2.150%, 3/23/15		150,000		153,250
6.150%, 9/1/16		100,000		115,432
6.750%, 9/15/17		200,000		242,884
Caterpillar Financial Services Corp.
2.750%, 6/24/15		100,000		104,528
0.700%, 2/26/16		150,000		149,402
2.050%, 8/1/16		200,000		207,239
7.150%, 2/15/19		400,000		518,807
Discover Financial Services
5.200%, 4/27/22		100,000		112,480
Ford Motor Credit Co. LLC
3.875%, 1/15/15		300,000		311,850
2.750%, 5/15/15		500,000		508,900
2.500%, 1/15/16		200,000		202,250
3.984%, 6/15/16		300,000		317,250
8.000%, 12/15/16		250,000		299,375
3.000%, 6/12/17		500,000		511,600
2.375%, 1/16/18		2,500,000		2,478,250
5.875%, 8/2/21		500,000		570,370
4.250%, 9/20/22		200,000		208,760
HSBC Finance Corp.
5.000%, 6/30/15		400,000		432,904
6.676%, 1/15/21		300,000		354,404
HSBC USA, Inc.
5.000%, 9/27/20		150,000		167,264
iPayment Holdings, Inc.
15.000%, 11/15/18 PIK		220,079		165,609
John Deere Capital Corp.
2.800%, 9/18/17		500,000		532,949
1.300%, 3/12/18		150,000		150,429
Oxford Finance LLC/Oxford Finance Co-Issuer, Inc.
7.250%, 1/15/18§		725,000		746,750
SLM Corp.
6.250%, 1/25/16		250,000		273,125
8.450%, 6/15/18		300,000		354,000
8.000%, 3/25/20		200,000		232,000
5.500%, 1/25/23		200,000		197,600
Toyota Motor Credit Corp.
1.250%, 11/17/14		100,000		101,154
3.200%, 6/17/15		200,000		211,137
2.800%, 1/11/16		100,000		105,461
2.000%, 9/15/16		100,000		103,378
1.750%, 5/22/17		300,000		306,817
3.400%, 9/15/21		300,000		320,736
2.625%, 1/10/23		150,000		148,632
				19,070,783
Diversified Financial Services (3.2%)
Alphabet Holding Co., Inc.
7.750%, 11/1/17 PIK§		1,100,000		1,144,000
AngloGold Ashanti Holdings plc
5.375%, 4/15/20		110,000		115,775
Bank of America Corp.
7.375%, 5/15/14		500,000		534,642
4.500%, 4/1/15		1,000,000		1,062,206
1.250%, 1/11/16		100,000		99,425
6.500%, 8/1/16		500,000		575,473
5.625%, 10/14/16		800,000		901,672
2.000%, 1/11/18		150,000		148,898
7.625%, 6/1/19		200,000		254,222

See Notes to Portfolio of Investments.

133

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
5.000%, 5/13/21	$	500,000	$	559,879
3.300%, 1/11/23		300,000		294,686
Boeing Capital Corp.
2.125%, 8/15/16		100,000		104,042
BP Capital Markets plc
3.625%, 5/8/14		200,000		206,840
3.875%, 3/10/15		500,000		530,278
3.125%, 10/1/15		500,000		527,725
4.500%, 10/1/20		450,000		510,602
Citigroup, Inc.
5.000%, 9/15/14		500,000		524,424
5.500%, 10/15/14		1,150,000		1,227,334
6.010%, 1/15/15		500,000		541,435
4.750%, 5/19/15		200,000		214,284
2.250%, 8/7/15		150,000		153,355
5.850%, 8/2/16		400,000		455,258
5.500%, 2/15/17		150,000		167,756
6.125%, 11/21/17		500,000		591,161
6.125%, 5/15/18		500,000		595,995
8.500%, 5/22/19		600,000		799,794
5.375%, 8/9/20		100,000		117,325
4.500%, 1/14/22		2,400,000		2,668,713
3.375%, 3/1/23		150,000		151,358
CNG Holdings, Inc.
9.375%, 5/15/20§		500,000		491,250
ConocoPhillips Canada Funding Co. I
5.625%, 10/15/16		300,000		349,566
Credit Suisse USA, Inc.
5.375%, 3/2/16		300,000		336,970
Gazprom OAO Via White Nights Finance B.V.
10.500%, 3/25/14(m)		300,000		324,681
General Electric Capital Corp.
5.900%, 5/13/14		600,000		635,918
5.650%, 6/9/14		300,000		318,198
3.500%, 6/29/15		750,000		794,205
5.400%, 2/15/17		800,000		920,377
1.625%, 4/2/18		150,000		148,890
6.000%, 8/7/19		1,000,000		1,215,712
5.300%, 2/11/21		250,000		287,172
4.650%, 10/17/21		300,000		333,713
3.150%, 9/7/22		300,000		299,331
3.100%, 1/9/23		250,000		246,444
Hutchison Whampoa International Ltd.
7.625%, 4/9/19(m)		600,000		764,160
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
7.750%, 1/15/16		1,250,000		1,290,625
JPMorgan Chase & Co.
4.650%, 6/1/14		750,000		784,220
5.125%, 9/15/14		500,000		530,683
3.700%, 1/20/15		1,000,000		1,048,805
4.750%, 3/1/15		300,000		321,856
3.450%, 3/1/16		500,000		530,692
3.150%, 7/5/16		1,300,000		1,381,119
2.000%, 8/15/17		250,000		254,828
6.000%, 1/15/18		750,000		891,710
6.300%, 4/23/19		700,000		858,081
4.400%, 7/22/20		1,000,000		1,104,536
4.250%, 10/15/20		250,000		275,256
4.350%, 8/15/21		300,000		330,921
3.250%, 9/23/22		350,000		347,543
3.200%, 1/25/23		150,000		150,070
NASDAQ OMX Group, Inc.
4.000%, 1/15/15		100,000		103,115
5.250%, 1/16/18		100,000		109,341
National Credit Union Administration Guaranteed Notes
Series A3
2.350%, 6/12/17		200,000		210,932
National Rural Utilities Cooperative Finance Corp.
3.050%, 3/1/16		300,000		318,243
5.450%, 2/1/18		250,000		295,977
Nationstar Mortgage LLC/Nationstar Capital Corp.
10.875%, 4/1/15		1,175,000		1,246,969
ORIX Corp.
4.710%, 4/27/15		400,000		423,806
Private Export Funding Corp.
4.550%, 5/15/15		150,000		162,591
4.950%, 11/15/15		100,000		111,701
1.375%, 2/15/17		50,000		51,008
2.050%, 11/15/22		125,000		123,888
SquareTwo Financial Corp.
11.625%, 4/1/17		1,000,000		1,017,500
TECO Finance, Inc.
5.150%, 3/15/20		100,000		116,267
Unilever Capital Corp.
2.750%, 2/10/16		100,000		105,697
4.800%, 2/15/19		200,000		236,479
Waha Aerospace B.V.
3.925%, 7/28/20§		281,250		299,318
XTRA Finance Corp.
5.150%, 4/1/17		100,000		113,789
				38,392,710
Insurance (1.3%)
ACE INA Holdings, Inc.
2.600%, 11/23/15		200,000		209,677
5.800%, 3/15/18		100,000		120,494
5.900%, 6/15/19		100,000		123,207
Aegon N.V.
4.625%, 12/1/15		200,000		217,872
Allied World Assurance Co. Holdings Ltd./Bermuda
7.500%, 8/1/16		100,000		118,927
Allstate Corp.
6.200%, 5/16/14		150,000		159,364
7.450%, 5/16/19		100,000		131,030
American Financial Group, Inc./Ohio
9.875%, 6/15/19		100,000		135,546
American International Group, Inc.
3.750%, 11/30/13§		700,000		713,272
5.050%, 10/1/15		300,000		328,049
5.450%, 5/18/17		300,000		342,031
8.250%, 8/15/18		500,000		646,886
6.400%, 12/15/20		100,000		123,266
4.875%, 6/1/22		250,000		283,328
Aon Corp.
3.500%, 9/30/15		100,000		105,623
5.000%, 9/30/20		100,000		115,226
A-S Co-Issuer Subsidiary, Inc./A-S Merger Sub LLC
7.875%, 12/15/20§		1,325,000		1,361,437
Asurion Corp.
11.000%, 8/16/19		1,450,000		1,553,312
Axis Specialty Finance LLC
5.875%, 6/1/20		200,000		226,488
Berkshire Hathaway Finance Corp.
1.600%, 5/15/17		150,000		152,670
4.250%, 1/15/21		250,000		277,012
Berkshire Hathaway, Inc.
3.200%, 2/11/15		400,000		421,200

See Notes to Portfolio of Investments.

134

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
3.000%, 2/11/23	$	250,000	$	253,696
Chubb Corp.
5.750%, 5/15/18		100,000		121,434
6.375%, 3/29/67(l)		100,000		109,500
CNA Financial Corp.
5.875%, 8/15/20		200,000		236,197
Genworth Financial, Inc.
8.625%, 12/15/16		250,000		300,174
7.700%, 6/15/20		100,000		119,672
Hartford Financial Services Group, Inc.
4.000%, 3/30/15		100,000		105,757
5.375%, 3/15/17		100,000		114,166
5.500%, 3/30/20		100,000		117,124
ING U.S., Inc.
5.500%, 7/15/22§		50,000		55,323
Lincoln National Corp.
6.250%, 2/15/20		100,000		119,972
7.000%, 5/17/66(l)		100,000		102,500
6.050%, 4/20/67(l)		100,000		100,750
Markel Corp.
7.125%, 9/30/19		100,000		123,312
Marsh & McLennan Cos., Inc.
5.750%, 9/15/15		200,000		222,484
4.800%, 7/15/21		100,000		112,601
MetLife, Inc.
6.750%, 6/1/16		250,000		293,313
7.717%, 2/15/19		300,000		389,597
Onex USI Acquisition Corp.
7.750%, 1/15/21§		1,350,000		1,353,375
PartnerReinsurance Finance B LLC
5.500%, 6/1/20		150,000		171,009
Principal Financial Group, Inc.
8.875%, 5/15/19		200,000		270,055
Protective Life Corp.
7.375%, 10/15/19		150,000		181,009
Prudential Financial, Inc.
5.100%, 9/20/14		200,000		212,524
4.750%, 6/13/15		150,000		162,211
6.000%, 12/1/17		250,000		298,540
7.375%, 6/15/19		135,000		174,097
Reinsurance Group of America, Inc.
6.450%, 11/15/19		100,000		120,897
Torchmark Corp.
9.250%, 6/15/19		100,000		134,154
Travelers Cos., Inc.
5.500%, 12/1/15		100,000		112,593
5.800%, 5/15/18		100,000		121,856
Unum Group
5.625%, 9/15/20		100,000		116,044
W.R. Berkley Corp.
5.375%, 9/15/20		100,000		113,901
Willis North America, Inc.
5.625%, 7/15/15		200,000		216,288
7.000%, 9/29/19		100,000		119,134
				14,741,176
Real Estate Investment Trusts (REITs) (0.5%)
American Tower Corp.
4.625%, 4/1/15		125,000		133,441
4.500%, 1/15/18		100,000		109,442
5.050%, 9/1/20		100,000		111,018
AvalonBay Communities, Inc.
5.700%, 3/15/17		100,000		116,689
BioMed Realty LP
6.125%, 4/15/20		100,000		116,862
Boston Properties LP
5.000%, 6/1/15		100,000		108,492
3.700%, 11/15/18		200,000		219,944
5.625%, 11/15/20		100,000		118,814
Brandywine Operating Partnership LP
4.950%, 4/15/18		100,000		110,730
Camden Property Trust
4.625%, 6/15/21		100,000		112,674
2.950%, 12/15/22		150,000		146,953
CommonWealth REIT
6.650%, 1/15/18		100,000		113,498
Digital Realty Trust LP
4.500%, 7/15/15		100,000		105,882
Duke Realty LP
6.750%, 3/15/20		100,000		122,243
ERP Operating LP
5.125%, 3/15/16		300,000		334,005
4.750%, 7/15/20		200,000		225,838
HCP, Inc.
5.625%, 5/1/17		100,000		114,874
3.150%, 8/1/22		100,000		99,222
Health Care REIT, Inc.
6.200%, 6/1/16		100,000		114,231
4.700%, 9/15/17		100,000		112,060
6.125%, 4/15/20		100,000		118,734
Healthcare Realty Trust, Inc.
6.500%, 1/17/17		150,000		172,461
Hospitality Properties Trust
7.875%, 8/15/14		150,000		158,686
5.625%, 3/15/17		100,000		110,536
Host Hotels & Resorts LP
4.750%, 3/1/23		100,000		107,000
Kilroy Realty LP
5.000%, 11/3/15		100,000		108,718
3.800%, 1/15/23		150,000		153,717
Kimco Realty Corp.
6.875%, 10/1/19		100,000		126,697
Liberty Property LP
4.750%, 10/1/20		150,000		164,774
Mack-Cali Realty LP
2.500%, 12/15/17		100,000		101,364
Realty Income Corp.
5.750%, 1/15/21		200,000		232,961
Senior Housing Properties Trust
4.300%, 1/15/16		100,000		103,750
Simon Property Group LP
5.100%, 6/15/15		200,000		218,251
5.250%, 12/1/16		200,000		227,456
6.125%, 5/30/18		300,000		366,702
5.650%, 2/1/20		100,000		120,176
UDR, Inc.
4.250%, 6/1/18		150,000		165,116
Ventas Realty LP/Ventas Capital Corp.
3.125%, 11/30/15		100,000		105,418
2.000%, 2/15/18		100,000		100,560
4.250%, 3/1/22		100,000		107,149
Vornado Realty LP
4.250%, 4/1/15		100,000		105,335
Washington Real Estate Investment Trust
3.950%, 10/15/22		150,000		152,278

See Notes to Portfolio of Investments.

135

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Weingarten Realty Investors
3.375%, 10/15/22	$	250,000	$	248,713
				6,323,464
Real Estate Management & Development (0.2%)
Kennedy-Wilson, Inc.
8.750%, 4/1/19§		625,000		668,750
ProLogis LP
6.250%, 3/15/17		100,000		115,139
6.625%, 5/15/18		200,000		239,779
Toys R Us Property Co. I LLC
10.750%, 7/15/17		1,125,000		1,209,375
				2,233,043
Thrifts & Mortgage Finance (0.0%)
Abbey National Treasury Services plc/London
2.875%, 4/25/14		100,000		101,847
4.000%, 4/27/16		100,000		106,707
				208,554
Total Financials				151,052,863
Health Care (3.3%)
Biotechnology (0.1%)
Amgen, Inc.
4.850%, 11/18/14		200,000		213,620
2.300%, 6/15/16		130,000		135,347
5.850%, 6/1/17		200,000		236,120
4.500%, 3/15/20		325,000		368,704
4.100%, 6/15/21		200,000		221,689
Celgene Corp.
3.250%, 8/15/22		150,000		151,358
Genentech, Inc.
4.750%, 7/15/15		200,000		217,865
				1,544,703
Health Care Equipment & Supplies (0.7%)
Abbott Laboratories
4.125%, 5/27/20		75,000		85,120
Alere, Inc.
7.250%, 7/1/18§		1,475,000		1,570,875
Angiotech Pharmaceuticals, Inc.
5.000%, 12/1/13(l)		87,000		87,326
9.000%, 12/1/16		1,077,000		1,081,039
Baxter International, Inc.
4.625%, 3/15/15		200,000		215,239
4.250%, 3/15/20		150,000		170,562
2.400%, 8/15/22		100,000		97,904
Becton Dickinson and Co.
5.000%, 5/15/19		200,000		236,393
Boston Scientific Corp.
4.500%, 1/15/15		250,000		264,307
6.400%, 6/15/16		100,000		114,540
6.000%, 1/15/20		100,000		116,372
C.R. Bard, Inc.
2.875%, 1/15/16		100,000		104,929
CareFusion Corp.
6.375%, 8/1/19		100,000		121,034
Covidien International Finance S.A.
2.800%, 6/15/15		100,000		104,608
6.000%, 10/15/17		100,000		120,056
DENTSPLY International, Inc.
4.125%, 8/15/21		100,000		105,924
Kinetic Concepts, Inc./KCI USA, Inc.
10.500%, 11/1/18		1,250,000		1,353,125
Medtronic, Inc.
4.450%, 3/15/20		250,000		287,312
Series B
4.750%, 9/15/15		100,000		109,800
Physio-Control International, Inc.
9.875%, 1/15/19§		1,150,000		1,293,750
St. Jude Medical, Inc.
3.750%, 7/15/14		100,000		104,024
4.875%, 7/15/19		100,000		114,606
Stryker Corp.
2.000%, 9/30/16		150,000		155,773
Zimmer Holdings, Inc.
1.400%, 11/30/14		100,000		100,840
3.375%, 11/30/21		100,000		103,378
				8,218,836
Health Care Providers & Services (1.5%)
Acadia Healthcare Co., Inc.
6.125%, 3/15/21§		475,000		490,437
Aetna, Inc.
6.500%, 9/15/18		200,000		246,566
3.950%, 9/1/20		100,000		109,329
AmerisourceBergen Corp.
4.875%, 11/15/19		150,000		174,882
Apria Healthcare Group, Inc.
11.250%, 11/1/14		1,050,000		1,084,125
12.375%, 11/1/14		450,000		461,250
Cardinal Health, Inc.
5.800%, 10/15/16		200,000		231,622
Cigna Corp.
5.125%, 6/15/20		130,000		150,181
4.375%, 12/15/20		100,000		110,998
Coventry Health Care, Inc.
5.450%, 6/15/21		120,000		140,100
Express Scripts Holding Co.
6.250%, 6/15/14		200,000		212,855
3.125%, 5/15/16		250,000		264,678
4.750%, 11/15/21		100,000		113,345
Fresenius Medical Care US Finance, Inc.
6.875%, 7/15/17		1,000,000		1,145,000
HCA Holdings, Inc.
6.250%, 2/15/21		1,300,000		1,386,125
HCA, Inc.
7.250%, 9/15/20		500,000		553,125
Term Loan
2.704%, 3/15/14		450,000		450,563
Health Management Associates, Inc.
7.375%, 1/15/20		1,200,000		1,311,000
Howard Hughes Medical Institute
3.450%, 9/1/14		100,000		104,296
Humana, Inc.
7.200%, 6/15/18		150,000		184,054
Laboratory Corp. of America Holdings
2.200%, 8/23/17		67,000		67,835
4.625%, 11/15/20		100,000		109,457
3.750%, 8/23/22		56,000		57,577
McKesson Corp.
1.400%, 3/15/18		100,000		99,801
4.750%, 3/1/21		100,000		115,506
2.850%, 3/15/23		200,000		200,208
Medco Health Solutions, Inc.
2.750%, 9/15/15		150,000		155,958
7.125%, 3/15/18		200,000		248,222
4.125%, 9/15/20		150,000		163,614

See Notes to Portfolio of Investments.

136

AXA PREMIER VIP TRUST

MULTIMANAGER MULTI-SECTOR BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
MedImpact Holdings, Inc.
10.500%, 2/1/18§	$	875,000	$	971,250
One Call Medical, Inc.
7.000%, 8/17/19		748,125		753,424
Quest Diagnostics, Inc.
6.400%, 7/1/17		150,000		175,969
4.700%, 4/1/21		100,000		109,017
RegionalCare Hospital Partners
8.000%, 11/2/18		1,000,000		1,012,500
Res-Care, Inc.
10.750%, 1/15/19		1,200,000		1,353,000
Truven Health Analytics, Inc.
10.625%, 6/1/20§		750,000		855,000
U.S. Renal Care, Inc.
10.250%, 12/27/19		1,000,000		1,017,500
UnitedHealth Group, Inc.
5.375%, 3/15/16		200,000		225,641
6.000%, 2/15/18		150,000		181,368
4.700%, 2/15/21		100,000		114,405
WellPoint, Inc.
5.250%, 1/15/16		300,000		333,834
4.350%, 8/15/20		200,000		222,214
3.300%, 1/15/23		150,000		151,736
				17,619,567
Health Care Technology (0.1%)
Emdeon, Inc.
11.000%, 12/31/19		825,000		950,812
Life Sciences Tools & Services (0.0%)
Agilent Technologies, Inc.
5.000%, 7/15/20		100,000		113,472
Life Technologies Corp.
6.000%, 3/1/20		100,000		111,741
Thermo Fisher Scientific, Inc.
3.200%, 3/1/16		300,000		317,663
4.700%, 5/1/20		100,000		110,725
				653,601
Pharmaceuticals (0.9%)
AbbVie, Inc.
1.200%, 11/6/15§		400,000		403,103
1.750%, 11/6/17§		350,000		352,861
2.900%, 11/6/22§		300,000		298,219
Actavis, Inc.
6.125%, 8/15/19		100,000		121,485
3.250%, 10/1/22		250,000		252,044
Allergan, Inc.
1.350%, 3/15/18		50,000		50,020
2.800%, 3/15/23		50,000		50,232
AstraZeneca plc
5.900%, 9/15/17		250,000		300,002
Bristol-Myers Squibb Co.
5.450%, 5/1/18		100,000		119,940
Elan Finance plc/Elan Finance Corp.
6.250%, 10/15/19§		825,000		961,125
Eli Lilly and Co.
5.200%, 3/15/17		100,000		115,606
GlaxoSmithKline Capital plc
1.500%, 5/8/17		250,000		253,671
2.850%, 5/8/22		300,000		307,386
GlaxoSmithKline Capital, Inc.
4.375%, 4/15/14		200,000		208,233
5.650%, 5/15/18		300,000		362,771
Hospira, Inc.
6.400%, 5/15/15		200,000		220,990
Johnson & Johnson
1.200%, 5/15/14		200,000		201,997
5.550%, 8/15/17		100,000		119,624
5.150%, 7/15/18		200,000		240,630
3.550%, 5/15/21		100,000		110,782
Merck & Co., Inc.
6.000%, 9/15/17		100,000		121,461
5.000%, 6/30/19		200,000		239,429
2.400%, 9/15/22		200,000		197,968
Novartis Capital Corp.
2.900%, 4/24/15		100,000		104,764
4.400%, 4/24/20		100,000		115,332
2.400%, 9/21/22		200,000		197,894
Novartis Securities Investment Ltd.
5.125%, 2/10/19		300,000		357,436
Pfizer, Inc.
5.350%, 3/15/15		400,000		436,513
6.200%, 3/15/19		400,000		501,908
Quintiles Transnational Corp.
7.500%, 2/22/17		1,275,000		1,303,688
Sanofi S.A.
2.625%, 3/29/16		150,000		157,921
4.000%, 3/29/21		250,000		277,804
Teva Pharmaceutical Finance II B.V./Teva Pharmaceutical Finance III LLC
3.000%, 6/15/15		200,000		209,639
Teva Pharmaceutical Finance IV B.V.
3.650%, 11/10/21		250,000		265,503
VPI Escrow Corp.
6.375%, 10/15/20§		900,000		951,750
Zoetis, Inc.
1.875%, 2/1/18§		100,000		100,851
				10,590,582
Total Health Care				39,578,101
Industrials (3.3%)
Aerospace & Defense (0.4%)
Boeing Co.
3.500%, 2/15/15		100,000		105,211
6.000%, 3/15/19		200,000		247,174
Delos Aircraft, Inc.
Term Loan
4.750%, 3/17/16		500,000		502,500
Embraer Overseas Ltd.
6.375%, 1/15/20		100,000		115,166
GenCorp, Inc.
7.125%, 3/15/21§		750,000		791,250
General Dynamics Corp.
1.000%, 11/15/17		250,000		247,668
Goodrich Corp.
6.125%, 3/1/19		150,000		186,582
Honeywell International, Inc.
5.300%, 3/1/18		250,000		297,657
L-3 Communications Corp.
3.950%, 11/15/16		100,000		107,667
5.200%, 10/15/19		100,000		113,630
4.950%, 2/15/21		100,000		111,548
Lockheed Martin Corp.
4.250%, 11/15/19		350,000		392,777
Northrop Grumman Corp.
3.700%, 8/1/14		150,000		155,996
Precision Castparts Corp.
1.250%, 1/15/18		150,000		149,830

See Notes to Portfolio of Investments.

137

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Raytheon Co.
4.400%, 2/15/20	$	300,000	$	340,383
Rockwell Collins, Inc.
5.250%, 7/15/19		100,000		119,782
Textron, Inc.
5.600%, 12/1/17		100,000		113,724
5.950%, 9/21/21		100,000		117,351
United Technologies Corp.
4.875%, 5/1/15		150,000		163,681
1.200%, 6/1/15		90,000		91,385
1.800%, 6/1/17		50,000		51,384
6.125%, 2/1/19		250,000		311,201
4.500%, 4/15/20		100,000		115,771
3.100%, 6/1/22		250,000		261,393
				5,210,711
Air Freight & Logistics (0.1%)
United Parcel Service, Inc.
3.875%, 4/1/14		250,000		258,801
5.125%, 4/1/19		100,000		119,834
3.125%, 1/15/21		250,000		266,443
				645,078
Airlines (0.5%)
American Airlines, Inc.
Series A
8.625%, 10/15/21		376,053		392,035
Series B
7.000%, 1/31/18§		1,027,404		1,069,835
Continental Airlines, Inc.
4.750%, 1/12/21		2,400,297		2,628,325
Delta Air Lines, Inc., Class A
4.950%, 5/23/19		265,146		288,347
Series 1A A
6.200%, 7/2/18		159,302		180,808
UAL Pass Through Trust
Series 09-2
9.750%, 1/15/17		742,470		863,270
				5,422,620
Building Products (0.0%)
CRH America, Inc.
6.000%, 9/30/16		350,000		397,890
Owens Corning, Inc.
9.000%, 6/15/19		17,000		21,760
				419,650
Commercial Services & Supplies (1.1%)
ADT Corp.
3.500%, 7/15/22§		150,000		147,386
Altegrity, Inc.
12.000%, 11/1/15§†		1,100,000		996,600
Board of Trustees of the Leland Stanford Junior University
4.250%, 5/1/16		100,000		110,868
4.750%, 5/1/19		100,000		119,641
Catalent Pharma Solutions, Inc.
7.875%, 10/15/18§		1,175,000		1,189,687
Cornell University
5.450%, 2/1/19		200,000		244,504
Jaguar Holding Co. I
9.375%, 10/15/17 PIK§		1,425,000		1,524,750
KP Germany Erste GmbH
11.625%, 7/15/17§		EUR 800,000		1,153,870
Neff Rental LLC/Neff Finance Corp.
9.625%, 5/15/16§	$	1,000,000		1,062,500
Pitney Bowes, Inc.
5.750%, 9/15/17		200,000		218,000
6.250%, 3/15/19		100,000		111,000
Republic Services, Inc.
5.500%, 9/15/19		250,000		297,283
5.250%, 11/15/21		250,000		292,048
Rural/Metro Corp.
10.125%, 7/15/19§		1,075,000		1,072,313
Sheridan Holdings, Inc.
9.000%, 6/20/20		550,000		559,625
Southern Graphics, Inc.
8.375%, 10/15/20§		875,000		910,000
Total Safety, Inc.
5.750%, 2/21/20		900,000		907,875
TransUnion Holding Co., Inc.
8.125%, 6/15/18 PIK§		1,125,000		1,200,938
Waste Management, Inc.
6.100%, 3/15/18		100,000		119,936
7.375%, 3/11/19		150,000		189,884
4.750%, 6/30/20		100,000		113,623
Yale University
2.900%, 10/15/14		76,000		78,849
				12,621,180
Construction & Engineering (0.0%)
ABB Finance USA, Inc.
1.625%, 5/8/17		100,000		101,189
2.875%, 5/8/22		150,000		151,565
				252,754
Electrical Equipment (0.0%)
Emerson Electric Co.
4.875%, 10/15/19		200,000		237,595
2.625%, 2/15/23		100,000		100,745
				338,340
Industrial Conglomerates (0.3%)
Cooper U.S., Inc.
2.375%, 1/15/16		100,000		103,354
3.875%, 12/15/20		100,000		108,318
Danaher Corp.
5.625%, 1/15/18		200,000		239,187
3.900%, 6/23/21		100,000		111,300
GE Capital Trust I
6.375%, 11/15/67(l)		300,000		316,500
General Electric Co.
5.250%, 12/6/17		300,000		352,399
2.700%, 10/9/22		250,000		250,182
Harland Clarke Holdings Corp.
9.750%, 8/1/18§		550,000		581,625
Ingersoll-Rand Global Holding Co., Ltd.
6.875%, 8/15/18		100,000		120,924
Koninklijke Philips Electronics N.V.
5.750%, 3/11/18		200,000		237,811
Mark IV USA/Euro Lux S.C.A.
8.875%, 12/15/17§		EUR 860,000		1,198,850
Pentair Finance S.A.
5.000%, 5/15/21(b)§	$	100,000		111,203
Tyco Electronics Group S.A.
6.550%, 10/1/17		100,000		119,222
Tyco International Finance S.A.
8.500%, 1/15/19		100,000		130,076
				3,980,951
Machinery (0.3%)
Caterpillar, Inc.
1.375%, 5/27/14		100,000		101,053

See Notes to Portfolio of Investments.

138

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
2.600%, 6/26/22	$	250,000	$	250,731
Deere & Co.
2.600%, 6/8/22		250,000		251,458
Dover Corp.
5.450%, 3/15/18		150,000		177,849
Eaton Corp.
2.750%, 11/2/22§		250,000		246,482
Harsco Corp.
2.700%, 10/15/15		100,000		101,000
Illinois Tool Works, Inc.
5.150%, 4/1/14		100,000		104,429
6.250%, 4/1/19		100,000		125,622
Kennametal, Inc.
3.875%, 2/15/22		118,000		122,640
Pall Corp.
5.000%, 6/15/20		100,000		112,459
SPL Logistics Escrow LLC/SPL Logistics Finance Corp.
8.875%, 8/1/20§		1,075,000		1,147,563
Xylem, Inc.
3.550%, 9/20/16		150,000		159,949
				2,901,235
Marine (0.0%)
American Commercial Lines LLC
0.000%, 2/27/20		425,000		417,562
Professional Services (0.0%)
Dun & Bradstreet Corp.
2.875%, 11/15/15		55,000		56,721
Equifax, Inc.
4.450%, 12/1/14		100,000		104,929
Verisk Analytics, Inc.
5.800%, 5/1/21		100,000		115,500
				277,150
Road & Rail (0.2%)
Burlington Northern Santa Fe LLC
4.700%, 10/1/19		200,000		233,285
Canadian National Railway Co.
5.550%, 3/1/19		350,000		424,149
Canadian Pacific Railway Co.
7.250%, 5/15/19		45,000		57,214
CSX Corp.
7.900%, 5/1/17		250,000		309,419
7.375%, 2/1/19		200,000		255,618
Norfolk Southern Corp.
7.700%, 5/15/17		200,000		250,814
5.750%, 4/1/18		100,000		119,872
Ryder System, Inc.
7.200%, 9/1/15		100,000		113,518
3.600%, 3/1/16		100,000		105,155
Union Pacific Corp.
5.700%, 8/15/18		200,000		241,603
6.125%, 2/15/20		100,000		124,343
				2,234,990
Trading Companies & Distributors (0.4%)
Doric Nimrod Air One Ltd.
Series 2012-1A
5.125%, 11/30/24§		200,000		218,500
GATX Corp.
3.500%, 7/15/16		150,000		159,000
4.850%, 6/1/21		100,000		108,399
International Lease Finance Corp.
3.875%, 4/15/18		1,800,000		1,797,750
5.875%, 8/15/22		800,000		866,000
Shale-Inland Holdings LLC/Shale-Inland Finance Corp.
8.750%, 11/15/19§		1,075,000		1,128,750
				4,278,399
Total Industrials				39,000,620
Information Technology (2.0%)
Communications Equipment (0.3%)
Blue Coat Systems, Inc.
5.750%, 1/17/18		1,186,538		1,199,886
Cisco Systems, Inc.
5.500%, 2/22/16		400,000		454,325
4.950%, 2/15/19		500,000		590,771
Harris Corp.
6.375%, 6/15/19		100,000		119,769
Motorola Solutions, Inc.
6.000%, 11/15/17		100,000		116,761
Nokia Siemens Networks Finance B.V.
6.750%, 4/15/18§	EUR	500,000		647,334
				3,128,846
Computers & Peripherals (0.2%)
Dell, Inc.
2.300%, 9/10/15	$	200,000		199,885
Hewlett-Packard Co.
4.750%, 6/2/14		400,000		416,920
2.350%, 3/15/15		300,000		305,982
5.500%, 3/1/18		200,000		224,192
3.750%, 12/1/20		250,000		247,164
4.375%, 9/15/21		300,000		305,597
4.650%, 12/9/21		250,000		259,369
Oberthur Technologies
6.252%, 3/30/19		920,375		913,472
				2,872,581
Electronic Equipment, Instruments & Components (0.1%)
Arrow Electronics, Inc.
3.375%, 11/1/15		150,000		156,216
Avnet, Inc.
6.000%, 9/1/15		100,000		108,694
5.875%, 6/15/20		100,000		109,101
Corning, Inc.
1.450%, 11/15/17		100,000		100,454
Ingram Micro, Inc.
5.000%, 8/10/22		100,000		104,469
Kemet Corp.
10.500%, 5/1/18		170,000		177,862
				756,796
Internet Software & Services (0.2%)
eBay, Inc.
3.250%, 10/15/20		100,000		107,499
2.600%, 7/15/22		100,000		99,234
Endurance International Group
10.250%, 4/30/20		1,550,000		1,550,000
Google, Inc.
1.250%, 5/19/14		100,000		101,018
2.125%, 5/19/16		100,000		104,603
3.625%, 5/19/21		100,000		110,190
				2,072,544
IT Services (0.4%)
Compucom Systems, Inc.
10.250%, 10/2/19		1,225,000		1,249,500
Computer Sciences Corp.
6.500%, 3/15/18		210,000		242,260

See Notes to Portfolio of Investments.

139

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
EVERTEC LLC/EVERTEC Finance Corp.
11.000%, 10/1/18	$	975,000	$	1,121,250
Fiserv, Inc.
3.125%, 10/1/15		200,000		209,165
6.800%, 11/20/17		100,000		119,706
International Business Machines Corp.
1.250%, 5/12/14		200,000		201,848
5.700%, 9/14/17		800,000		956,840
1.250%, 2/8/18		200,000		200,132
1.875%, 8/1/22		250,000		238,356
SAIC, Inc.
4.450%, 12/1/20		100,000		106,969
Western Union Co.
5.930%, 10/1/16		250,000		275,929
				4,921,955
Office Electronics (0.1%)
CDW LLC/CDW Finance Corp.
8.000%, 12/15/18		675,000		756,000
Xerox Corp.
8.250%, 5/15/14		250,000		269,833
6.350%, 5/15/18		250,000		290,831
5.625%, 12/15/19		100,000		113,680
				1,430,344
Semiconductors & Semiconductor Equipment (0.1%)
Analog Devices, Inc.
3.000%, 4/15/16		100,000		105,953
Broadcom Corp.
2.500%, 8/15/22§		100,000		99,139
Intel Corp.
1.950%, 10/1/16		100,000		103,358
1.350%, 12/15/17		200,000		200,526
3.300%, 10/1/21		254,000		267,402
2.700%, 12/15/22		250,000		247,047
KLA-Tencor Corp.
6.900%, 5/1/18		43,000		51,234
National Semiconductor Corp.
3.950%, 4/15/15		100,000		107,110
Texas Instruments, Inc.
1.375%, 5/15/14		100,000		101,081
2.375%, 5/16/16		100,000		104,741
1.650%, 8/3/19		100,000		99,857
				1,487,448
Software (0.6%)
Adobe Systems, Inc.
3.250%, 2/1/15		150,000		156,492
BMC Software, Inc.
4.250%, 2/15/22		25,000		24,984
4.500%, 12/1/22		100,000		101,972
CA, Inc.
6.125%, 12/1/14		200,000		215,859
Infor US, Inc.
10.000%, 4/1/19	EUR	1,225,000		1,758,698
Microsoft Corp.
2.950%, 6/1/14	$	500,000		515,355
4.200%, 6/1/19		350,000		404,931
Misys plc
7.250%, 12/20/19		1,243,750		1,262,407
Oracle Corp.
5.250%, 1/15/16		450,000		505,288
5.750%, 4/15/18		550,000		664,294
2.500%, 10/15/22		250,000		245,850
RP Crown Parent LLC
6.750%, 12/14/18		525,000		535,063
11.250%, 12/14/19		1,050,000		1,095,281
				7,486,474
Total Information Technology				24,156,988
Materials (1.9%)
Chemicals (1.0%)
Agrium, Inc.
3.150%, 10/1/22		100,000		96,399
Air Products and Chemicals, Inc.
4.375%, 8/21/19		100,000		114,842
Airgas, Inc.
3.250%, 10/1/15		100,000		105,190
Cabot Corp.
5.000%, 10/1/16		100,000		111,111
Dow Chemical Co.
2.500%, 2/15/16		100,000		104,130
8.550%, 5/15/19		250,000		335,553
4.250%, 11/15/20		250,000		273,806
4.125%, 11/15/21		100,000		106,155
E.I. du Pont de Nemours & Co.
3.250%, 1/15/15		200,000		209,514
5.250%, 12/15/16		100,000		115,874
6.000%, 7/15/18		250,000		308,197
3.625%, 1/15/21		200,000		219,594
2.800%, 2/15/23		250,000		252,255
Eastman Chemical Co.
2.400%, 6/1/17		150,000		155,935
5.500%, 11/15/19		100,000		117,023
Ecolab, Inc.
1.000%, 8/9/15		94,000		94,150
4.350%, 12/8/21		200,000		221,682
Hexion US Finance Corp.
6.625%, 4/15/20		400,000		401,520
Methanex Corp.
3.250%, 12/15/19		60,000		60,600
Momentive Performance Materials, Inc.
8.875%, 10/15/20		950,000		978,500
Monsanto Co.
5.125%, 4/15/18		100,000		118,825
Orion Engineered Carbons Finance & Co. SCA
9.250%, 8/1/19 PIK§		975,000		984,750
Oxea Finance/Cy S.C.A.
9.500%, 7/15/17§		321,000		348,285
9.625%, 7/15/17§	EUR	643,031		897,423
PetroLogistics LP/PetroLogistics Finance Corp.
6.250%, 4/1/20§	$	825,000		830,156
Phibro Animal Health Corp.
9.250%, 7/1/18§		750,000		806,250
Potash Corp. of Saskatchewan, Inc.
5.250%, 5/15/14		200,000		210,120
6.500%, 5/15/19		100,000		125,323
PPG Industries, Inc.
1.900%, 1/15/16		150,000		154,103
6.650%, 3/15/18		150,000		184,814
Praxair, Inc.
4.625%, 3/30/15		200,000		216,047
4.500%, 8/15/19		100,000		115,720
3.000%, 9/1/21		100,000		103,477
2.200%, 8/15/22		100,000		97,032
2.700%, 2/21/23		150,000		150,604
Reichhold Industries, Inc.
9.000%, 5/8/17 PIK§		1,110,675		874,657

See Notes to Portfolio of Investments.

140

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
RPM International, Inc.
6.125%, 10/15/19	$	100,000	$	117,513
Sawgrass Merger Sub, Inc.
8.750%, 12/15/20§		1,175,000		1,224,937
Sherwin-Williams Co.
3.125%, 12/15/14		100,000		104,359
Valspar Corp.
7.250%, 6/15/19		100,000		122,352
				12,168,777
Containers & Packaging (0.1%)
Bemis Co., Inc.
6.800%, 8/1/19		150,000		181,898
Viskase Cos., Inc.
9.875%, 1/15/18§		650,000		689,000
				870,898
Metals & Mining (0.8%)
Alcoa, Inc.
6.750%, 7/15/18		200,000		228,218
6.150%, 8/15/20		150,000		163,030
5.400%, 4/15/21		100,000		103,871
Aleris International, Inc.
7.875%, 11/1/20		1,075,000		1,158,313
Allegheny Technologies, Inc.
9.375%, 6/1/19		100,000		128,890
ArcelorMittal S.A.
10.350%, 6/1/19		425,000		535,925
Barrick Gold Corp.
1.750%, 5/30/14		120,000		121,311
2.900%, 5/30/16		200,000		210,557
6.950%, 4/1/19		100,000		123,432
Barrick North America Finance LLC
4.400%, 5/30/21		200,000		215,467
BHP Billiton Finance USA Ltd.
5.500%, 4/1/14		500,000		525,181
6.500%, 4/1/19		300,000		380,072
3.250%, 11/21/21		250,000		263,214
Cliffs Natural Resources, Inc.
3.950%, 1/15/18		150,000		150,782
4.800%, 10/1/20		55,000		54,251
CSN Islands XI Corp.
6.875%, 9/21/19§		200,000		221,841
FMG Resources Pty Ltd.
8.250%, 11/1/19§		625,000		671,875
Freeport-McMoRan Copper & Gold, Inc.
3.550%, 3/1/22		250,000		247,802
3.875%, 3/15/23§		250,000		249,310
Goldcorp, Inc.
3.700%, 3/15/23		100,000		99,846
Newmont Mining Corp.
3.500%, 3/15/22		250,000		251,413
Nucor Corp.
5.750%, 12/1/17		100,000		118,992
5.850%, 6/1/18		100,000		120,669
Rio Tinto Alcan, Inc.
5.000%, 6/1/15		400,000		434,000
Rio Tinto Finance USA Ltd.
8.950%, 5/1/14		200,000		217,615
9.000%, 5/1/19		350,000		484,090
4.125%, 5/20/21		250,000		269,998
Rio Tinto Finance USA plc
1.625%, 8/21/17		100,000		100,313
2.875%, 8/21/22		100,000		97,555
Southern Copper Corp.
5.375%, 4/16/20		135,000		152,795
Teck Resources Ltd.
4.500%, 1/15/21		100,000		106,750
Thompson Creek Metals Co., Inc.
12.500%, 5/1/19		500,000		490,000
Vale Overseas Ltd.
6.250%, 1/11/16		300,000		333,917
4.625%, 9/15/20		200,000		211,117
				9,242,412
Paper & Forest Products (0.0%)
Celulosa Arauco y Constitucion S.A.
5.000%, 1/21/21		200,000		211,063
International Paper Co.
5.300%, 4/1/15		100,000		107,957
9.375%, 5/15/19		300,000		410,666
4.750%, 2/15/22		100,000		112,306
				841,992
Total Materials				23,124,079
Telecommunication Services (1.6%)
Diversified Telecommunication Services (1.2%)
AT&T, Inc.
5.100%, 9/15/14		200,000		212,562
2.500%, 8/15/15		500,000		518,903
5.625%, 6/15/16		200,000		228,668
1.700%, 6/1/17		500,000		505,609
5.500%, 2/1/18		300,000		353,028
4.450%, 5/15/21		500,000		561,373
BellSouth Corp.
5.200%, 9/15/14		300,000		318,554
British Telecommunications plc
5.950%, 1/15/18		200,000		238,329
CenturyLink, Inc.
5.625%, 4/1/20		300,000		306,750
Series T
5.800%, 3/15/22		400,000		405,000
Deutsche Telekom International Finance B.V.
4.875%, 7/8/14		150,000		158,729
6.750%, 8/20/18		150,000		185,136
France Telecom S.A.
4.375%, 7/8/14		200,000		208,543
2.750%, 9/14/16		100,000		104,398
5.375%, 7/8/19		200,000		233,332
ITC Deltacom, Inc.
10.500%, 4/1/16		899,000		950,692
Level 3 Financing, Inc.
10.000%, 2/1/18		600,000		662,250
8.125%, 7/1/19		400,000		441,500
Lynx I Corp.
6.000%, 4/15/21§	GBP	900,000		1,405,453
PAETEC Holding Corp.
9.875%, 12/1/18	$	1,200,000		1,377,000
Telecom Italia Capital S.A.
6.175%, 6/18/14		300,000		313,514
5.250%, 10/1/15		100,000		105,334
7.175%, 6/18/19		200,000		228,153
Telefonica Emisiones S.A.U.
6.421%, 6/20/16		300,000		332,152
5.877%, 7/15/19		145,000		159,898
5.462%, 2/16/21		300,000		320,432
Telefonos de Mexico S.A.B. de C.V.
5.500%, 11/15/19		100,000		115,863

See Notes to Portfolio of Investments.

141

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
Verizon Communications, Inc.
5.550%, 2/15/16	$	600,000	$	677,255
5.500%, 2/15/18		300,000		352,943
6.350%, 4/1/19		400,000		489,704
4.600%, 4/1/21		300,000		336,647
Virgin Media Secured Finance plc
5.250%, 1/15/21		100,000		104,750
Zayo Group LLC/Zayo Capital, Inc.
10.125%, 7/1/20		1,150,000		1,354,125
				14,266,579
Wireless Telecommunication Services (0.4%)
America Movil S.A.B. de C.V.
3.625%, 3/30/15		100,000		104,853
2.375%, 9/8/16		300,000		308,443
5.000%, 3/30/20		1,000,000		1,120,073
Cellco Partnership/Verizon Wireless Capital LLC
8.500%, 11/15/18		200,000		265,735
Rogers Communications, Inc.
7.500%, 3/15/15		200,000		225,788
6.800%, 8/15/18		150,000		188,253
Vodafone Group plc
4.150%, 6/10/14		300,000		312,185
0.900%, 2/19/16		100,000		99,611
5.625%, 2/27/17		200,000		232,230
5.450%, 6/10/19		200,000		236,937
2.500%, 9/26/22		200,000		191,816
2.950%, 2/19/23		250,000		248,269
Term Loan
6.875%, 8/11/15		1,000,000		1,020,000
6.875%, 8/17/15		107,527		109,678
				4,663,871
Total Telecommunication Services				18,930,450
Utilities (2.0%)
Electric Utilities (1.1%)
American Electric Power Co., Inc.
2.950%, 12/15/22		150,000		149,960
Arizona Public Service Co.
5.800%, 6/30/14		100,000		106,307
Carolina Power & Light Co.
5.300%, 1/15/19		200,000		239,673
Commonwealth Edison Co.
4.000%, 8/1/20		160,000		178,950
Connecticut Light & Power Co.
5.650%, 5/1/18		100,000		119,484
Duke Energy Carolinas LLC
7.000%, 11/15/18		100,000		128,658
4.300%, 6/15/20		250,000		287,025
Duke Energy Corp.
3.350%, 4/1/15		100,000		104,932
5.050%, 9/15/19		150,000		176,316
3.050%, 8/15/22		100,000		101,130
Entergy Arkansas, Inc.
3.750%, 2/15/21		2,500,000		2,689,971
Entergy Corp.
5.125%, 9/15/20		100,000		109,238
Entergy Texas, Inc.
7.125%, 2/1/19		100,000		124,277
Exelon Corp.
4.900%, 6/15/15		200,000		216,420
FirstEnergy Solutions Corp.
4.800%, 2/15/15		250,000		266,014
Florida Power Corp.
4.550%, 4/1/20		25,000		29,002
Hydro-Quebec
2.000%, 6/30/16		350,000		363,957
Jersey Central Power & Light Co.
7.350%, 2/1/19		100,000		127,687
Kansas City Power & Light Co.
5.850%, 6/15/17		100,000		112,997
6.375%, 3/1/18		100,000		116,171
Korea Electric Power Corp.
3.000%, 10/5/15§		2,000,000		2,082,000
LG&E and KU Energy LLC
2.125%, 11/15/15		100,000		102,395
3.750%, 11/15/20		150,000		159,518
MidAmerican Energy Co.
4.650%, 10/1/14		200,000		213,336
MidAmerican Energy Holdings Co.
5.750%, 4/1/18		150,000		179,968
Nevada Power Co.
6.500%, 8/1/18		200,000		249,337
NextEra Energy Capital Holdings, Inc.
1.200%, 6/1/15		150,000		150,913
7.875%, 12/15/15		100,000		117,584
6.000%, 3/1/19		100,000		119,272
Northern States Power Co.
1.950%, 8/15/15		100,000		103,134
Ohio Power Co.
6.050%, 5/1/18		200,000		240,795
Oncor Electric Delivery Co. LLC
6.800%, 9/1/18		200,000		248,959
Pacific Gas & Electric Co.
3.500%, 10/1/20		250,000		267,889
Peco Energy Co.
5.000%, 10/1/14		100,000		106,379
5.350%, 3/1/18		100,000		119,987
Progress Energy, Inc.
5.625%, 1/15/16		100,000		112,417
7.050%, 3/15/19		100,000		127,023
3.150%, 4/1/22		250,000		253,849
Public Service Co. of Colorado
3.200%, 11/15/20		150,000		161,414
Public Service Co. of Oklahoma
4.400%, 2/1/21		100,000		112,188
Public Service Electric & Gas Co.
3.500%, 8/15/20		100,000		110,577
Sierra Pacific Power Co.
Series M
6.000%, 5/15/16		100,000		115,697
Southern California Edison Co.
3.875%, 6/1/21		100,000		111,184
Southern Co.
4.150%, 5/15/14		145,000		150,373
Southwestern Electric Power Co.
Series E
5.550%, 1/15/17		120,000		135,745
Tampa Electric Co.
6.100%, 5/15/18		100,000		123,279
Virginia Electric & Power Co.
5.400%, 1/15/16		100,000		112,748
2.750%, 3/15/23		150,000		152,540
Series A
5.000%, 6/30/19		165,000		196,988
Wisconsin Electric Power Co.
4.250%, 12/15/19		150,000		171,654

See Notes to Portfolio of Investments.

142

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
2.950%, 9/15/21	$	100,000	$	104,982
Wisconsin Power & Light Co.
5.000%, 7/15/19		50,000		59,331
Xcel Energy, Inc.
4.700%, 5/15/20		100,000		115,249
				12,636,873
Gas Utilities (0.2%)
AGL Capital Corp.
3.500%, 9/15/21		250,000		268,977
Atmos Energy Corp.
8.500%, 3/15/19		100,000		134,156
Boardwalk Pipelines LP
5.750%, 9/15/19		200,000		231,675
CenterPoint Energy Resources Corp.
4.500%, 1/15/21		100,000		113,481
DCP Midstream Operating LP
3.875%, 3/15/23		100,000		100,958
EP Energy LLC/EP Energy Finance, Inc.
9.375%, 5/1/20		475,000		548,625
NGPL PipeCo LLC
7.119%, 12/15/17§		350,000		371,000
Panhandle Eastern Pipe Line Co. LP
6.200%, 11/1/17		150,000		177,073
Southern Natural Gas Co. LLC/Southern Natural Issuing Corp.
4.400%, 6/15/21		150,000		165,950
Star Gas Partners LP/Star Gas Finance Co.
8.875%, 12/1/17		750,000		766,875
				2,878,770
Independent Power Producers & Energy Traders (0.2%)
Constellation Energy Group, Inc.
5.150%, 12/1/20		100,000		114,298
Exelon Generation Co. LLC
6.200%, 10/1/17		100,000		117,013
NRG Energy, Inc.
7.625%, 1/15/18		500,000		568,750
PPL Energy Supply LLC
6.500%, 5/1/18		100,000		118,569
PSEG Power LLC
5.125%, 4/15/20		200,000		228,727
Tennessee Valley Authority
5.500%, 7/18/17		550,000		660,238
3.875%, 2/15/21		1,000,000		1,165,144
TransAlta Corp.
4.750%, 1/15/15		100,000		105,867
				3,078,606
Multi-Utilities (0.5%)
Ameren Corp.
8.875%, 5/15/14		100,000		107,965
CenterPoint Energy, Inc.
5.950%, 2/1/17		100,000		115,865
Consolidated Edison Co. of New York, Inc.
6.650%, 4/1/19		100,000		127,625
Series 04-A
4.700%, 2/1/14		2,900,000		2,998,233
Series 08-A
5.850%, 4/1/18		300,000		363,307
Consumers Energy Co.
6.700%, 9/15/19		250,000		322,311
Dominion Resources, Inc.
5.150%, 7/15/15		200,000		219,305
8.875%, 1/15/19		200,000		271,663
DTE Energy Co.
7.625%, 5/15/14		100,000		107,568
6.350%, 6/1/16		100,000		115,061
National Grid plc
6.300%, 8/1/16		100,000		115,844
NiSource Finance Corp.
6.400%, 3/15/18		100,000		120,008
5.450%, 9/15/20		100,000		117,653
NSTAR LLC
4.500%, 11/15/19		150,000		171,339
SCANA Corp.
6.250%, 4/1/20		100,000		114,937
Sempra Energy
6.500%, 6/1/16		60,000		69,850
6.150%, 6/15/18		100,000		122,144
2.875%, 10/1/22		63,000		62,768
				5,643,446
Total Utilities				24,237,695
Total Corporate Bonds				424,038,509
Government Securities (64.6%)
Agency CMO (8.5%)
Federal Home Loan Mortgage Corp.
4.879% 5/19/17		1,200,000		1,345,966
Federal National Mortgage Association
4.500% 10/1/29		864,657		940,888
4.500% 2/1/30		173,164		188,647
4.500% 9/1/30		20,749		22,605
4.500% 4/1/38		628,507		676,848
4.500% 3/1/39		3,318,906		3,574,176
4.500% 4/1/39		945,661		1,018,395
4.500% 5/1/39		2,865,371		3,085,759
4.500% 6/1/39		727,662		783,630
4.000% 12/1/39		670,173		714,493
4.000% 8/1/40		660,112		703,768
4.500% 8/1/40		432,599		466,412
4.000% 9/1/40		1,192,402		1,271,259
4.500% 2/1/41		461,377		498,305
4.500% 4/1/41		487,890		526,940
4.500% 5/1/41		780,377		842,838
4.500% 6/1/41		777,514		839,745
4.000% 9/1/41		672,126		717,626
4.000% 5/1/42		1,811,990		1,933,521
4.500% 9/1/42		594,228		639,933
3.000% 4/25/28 TBA		2,000,000		2,103,594
4.000% 4/25/43 TBA		7,000,000		7,462,656
4.500% 4/25/43 TBA		7,000,000		7,541,337
5.000% 4/25/43 TBA		54,000,000		58,505,625
4.000% 5/25/43 TBA		4,000,000		4,259,219
				100,664,185
Foreign Governments (2.7%)
Canadian Government Bond
2.375% 9/10/14		350,000		360,378
0.875% 2/14/17		300,000		302,058
Development Bank of Japan
5.125% 2/1/17		200,000		231,302
Eksportfinans ASA
1.875% 4/2/13		200,000		200,000
0.505% 4/5/13(l)		100,000		99,825
1.600% 3/20/14	JPY	1,000,000		10,347
3.000% 11/17/14	$	200,000		199,000
2.000% 9/15/15		400,000		384,000

See Notes to Portfolio of Investments.

143

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
2.375% 5/25/16	$	200,000	$	190,250
5.500% 5/25/16		100,000		103,875
5.500% 6/26/17		100,000		103,750
Export Development Canada
2.250% 5/28/15		450,000		467,818
1.250% 10/26/16		200,000		204,412
Export-Import Bank of Korea
4.125% 9/9/15		150,000		160,485
1.750% 2/27/18		200,000		200,081
4.000% 1/29/21		600,000		645,660
4.375% 9/15/21		200,000		220,160
5.000% 4/11/22		250,000		287,875
Federative Republic of Brazil
8.000% 1/15/18		305,556		356,736
5.875% 1/15/19		300,000		360,750
8.875% 10/14/19		100,000		139,892
4.875% 1/22/21		250,000		289,807
FMS Wertmanagement AoeR
1.000% 11/21/17		200,000		199,980
Italy Buoni Poliennali Del Tesoro
4.000% 2/1/37	EUR	100,000		110,701
Japan Finance Corp.
2.500% 1/21/16	$	500,000		526,386
2.250% 7/13/16		500,000		524,969
Japan Finance Organization for Municipalities
5.000% 5/16/17		300,000		347,359
4.000% 1/13/21		100,000		114,796
Korea Development Bank
3.250% 3/9/16		500,000		526,500
Korea Finance Corp.
4.625% 11/16/21		250,000		277,725
Province of British Columbia
2.850% 6/15/15		400,000		420,875
2.000% 10/23/22		150,000		147,309
Province of Manitoba
4.900% 12/6/16		400,000		457,543
Province of Nova Scotia
5.125% 1/26/17		250,000		288,762
Province of Ontario
4.100% 6/16/14		500,000		522,190
2.950% 2/5/15		250,000		261,266
1.875% 9/15/15		650,000		669,925
4.950% 11/28/16		550,000		631,046
1.100% 10/25/17		200,000		199,949
1.650% 9/27/19		300,000		299,613
4.000% 10/7/19		600,000		685,776
2.450% 6/29/22		200,000		201,710
Province of Quebec
4.875% 5/5/14		340,000		356,582
4.600% 5/26/15		150,000		163,128
4.625% 5/14/18		200,000		233,415
3.500% 7/29/20		200,000		221,334
Republic of Chile
3.875% 8/5/20		200,000		219,841
Republic of Colombia
8.250% 12/22/14		500,000		564,883
4.375% 7/12/21		350,000		390,892
Republic of Italy
4.500% 1/21/15		500,000		520,189
5.250% 9/20/16		630,000		678,359
Republic of Korea
5.750% 4/16/14		1,750,000		1,839,250
7.125% 4/16/19		1,850,000		2,393,530
Republic of Panama
5.200% 1/30/20		200,000		232,823
Republic of Peru
8.375% 5/3/16		100,000		121,469
7.125% 3/30/19		100,000		128,000
Republic of Poland
6.375% 7/15/19		500,000		609,529
Republic of South Africa
6.875% 5/27/19		250,000		304,144
5.500% 3/9/20		250,000		285,727
State of Israel
5.500% 11/9/16		100,000		113,967
5.125% 3/26/19		200,000		232,320
Svensk Exportkredit AB
3.250% 9/16/14		300,000		312,195
5.125% 3/1/17		200,000		231,488
United Kingdom Gilt
1.750% 9/7/22	GBP	4,700,000		7,128,846
United Mexican States
5.625% 1/15/17	$	350,000		403,068
3.625% 3/15/22		1,274,000		1,354,242
				31,972,062
Municipal Bonds (2.1%)
Board of Regents of the University of Texas System , Revenue Bonds,
Series 2009B
6.276% 8/15/41		2,900,000		3,414,431
City of New York, General Obligation Bonds,
Series 2010H-1
6.246% 6/1/35		1,200,000		1,434,408
Colorado Metro Wastewater Reclamation District, Sewer Improvement Bonds, Revenue Bonds,
Series 2009B
4.718% 4/1/19		1,000,000		1,165,340
County of San Diego Regional Airport Authority, Revenue Bonds,
Series 2010C
6.628% 7/1/40		500,000		562,145
Indianapolis Local Public Improvement Bond Bank, Revenue Bonds,
Series 2010A-2
5.854% 1/15/30		1,500,000		1,806,810
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Revenue Bonds,
Series 2009B
6.875% 12/15/39		1,000,000		1,149,490
New Jersey Turnpike Authority, Revenue Bonds,
Series 2009F
7.414% 1/1/40		1,000,000		1,458,450
New York & New Jersey Port Authority, Revenue Bonds,
Series 2010
5.647% 11/1/40		700,000		864,724
Northern California Power Agency, Lodi Energy Center, Revenue Bonds,
Series 2010B
7.311% 6/1/40		1,000,000		1,276,010
Regents of the University of California Medical Center, Revenue Bonds,
Series 2010H
5.435% 5/15/23		4,700,000		5,583,459
State of California, Various Purposes, General Obligation Bonds,
Series 2009
3.950% 11/1/15		400,000		432,616
State of Illinois Toll Highway Authority, Senior Priority, Revenue Bonds,
Series 2009A
5.293% 1/1/24		3,000,000		3,401,400
State of Illinois, General Obligation Bonds,
Series 2010
4.421% 1/1/15		100,000		105,062

See Notes to Portfolio of Investments.

144

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
State of Illinois, General Obligation Bonds,
Series 2011
5.665% 3/1/18	$	500,000	$	571,205
State of Texas Transportation Commission, Highway Fund First Tier, Revenue Bonds,
Series 2010
5.028% 4/1/26		1,800,000		2,195,100
				25,420,650
Supranational (1.7%)
African Development Bank
3.000% 5/27/14		500,000		515,562
2.500% 3/15/16		150,000		158,665
Asian Development Bank
2.750% 5/21/14		500,000		513,907
4.250% 10/20/14		250,000		265,190
2.500% 3/15/16		250,000		264,972
5.500% 6/27/16		250,000		289,905
1.875% 10/23/18		250,000		260,786
1.750% 3/21/19		100,000		103,250
1.375% 3/23/20		150,000		149,414
Corp. Andina de Fomento
3.750% 1/15/16		250,000		264,343
8.125% 6/4/19		250,000		324,753
Council of Europe Development Bank
2.625% 2/16/16		400,000		422,534
European Bank for Reconstruction & Development
1.625% 9/3/15		250,000		257,027
1.375% 10/20/16		250,000		256,769
0.750% 9/1/17		250,000		249,300
1.000% 6/15/18		150,000		149,992
European Investment Bank
3.000% 4/8/14		1,000,000		1,026,293
3.125% 6/4/14		750,000		773,595
1.125% 8/15/14		1,000,000		1,009,127
2.875% 1/15/15		500,000		520,914
2.750% 3/23/15		500,000		521,556
4.875% 2/16/16		1,100,000		1,232,116
2.125% 7/15/16		1,000,000		1,045,636
4.875% 1/17/17		550,000		632,981
1.125% 9/15/17		750,000		754,146
1.000% 12/15/17		200,000		199,426
2.875% 9/15/20		500,000		539,180
4.000% 2/16/21		200,000		231,462
Inter-American Development Bank
3.000% 4/22/14		750,000		771,147
5.125% 9/13/16		280,000		323,237
1.375% 10/18/16		250,000		256,697
4.250% 9/10/18		500,000		586,031
3.875% 2/14/20		500,000		581,381
International Bank for Reconstruction & Development
1.125% 8/25/14		500,000		505,909
2.375% 5/26/15		500,000		521,425
2.125% 3/15/16		1,000,000		1,048,082
0.500% 4/15/16		400,000		400,138
0.875% 4/17/17		500,000		501,729
International Finance Corp.
3.000% 4/22/14		500,000		514,205
2.250% 4/11/16		500,000		526,291
2.125% 11/17/17		250,000		264,306
Nordic Investment Bank
0.500% 4/14/16		200,000		199,785
5.000% 2/1/17		250,000		290,822
0.750% 1/17/18		200,000		198,568
North American Development Bank
2.400% 10/26/22		150,000		144,772
				20,567,326
U.S. Government Agencies (5.0%)
Federal Farm Credit Bank
1.500% 11/16/15		1,000,000		1,028,076
4.875% 1/17/17		700,000		811,496
Federal Home Loan Bank
0.240% 4/22/14		250,000		249,944
5.250% 6/18/14		800,000		848,952
5.500% 8/13/14		850,000		910,678
1.630% 8/20/15		400,000		411,667
0.500% 11/20/15		250,000		250,679
5.375% 5/18/16		1,000,000		1,152,010
5.625% 6/13/16		1,150,000		1,320,321
4.750% 12/16/16		1,250,000		1,442,151
1.000% 6/21/17		400,000		405,378
1.000% 11/15/17		500,000		499,882
1.050% 11/15/17		250,000		248,742
5.000% 11/17/17		1,250,000		1,489,197
1.875% 3/8/19		500,000		523,792
Federal Home Loan Mortgage Corp.
2.500% 4/23/14		500,000		511,874
5.000% 7/15/14		680,000		721,814
3.000% 7/28/14		350,000		362,587
1.000% 8/27/14		500,000		504,946
0.750% 11/25/14		500,000		503,572
0.800% 1/13/15		100,000		100,462
4.500% 1/15/15		1,000,000		1,075,227
0.500% 2/5/15		500,000		500,582
2.875% 2/9/15		1,500,000		1,572,241
0.550% 2/27/15		500,000		501,422
0.420% 6/19/15		500,000		500,342
0.500% 8/28/15		300,000		300,662
1.750% 9/10/15		750,000		774,675
0.500% 9/25/15		900,000		900,563
0.500% 10/9/15		667,000		667,398
4.750% 11/17/15		1,000,000		1,113,419
0.450% 11/24/15		750,000		750,323
0.500% 11/27/15		350,000		350,109
0.850% 2/24/16		500,000		502,375
5.125% 10/18/16		1,000,000		1,158,872
2.250% 1/23/17		200,000		203,090
5.000% 4/18/17		300,000		351,539
1.000% 6/29/17		500,000		505,705
2.000% 7/17/17		500,000		502,534
5.500% 8/23/17		450,000		541,808
1.000% 9/29/17		750,000		756,646
0.750% 1/12/18		1,000,000		994,089
0.875% 3/7/18		1,000,000		998,287
1.750% 5/30/19		1,000,000		1,031,717
2.000% 7/30/19		100,000		101,071
1.250% 8/1/19		500,000		498,894
3.000% 8/8/19		500,000		504,473
1.250% 10/2/19		500,000		497,567
2.375% 1/13/22		1,000,000		1,041,164
Federal National Mortgage Association
2.500% 5/15/14		2,500,000		2,562,576
3.000% 9/16/14		1,000,000		1,039,648
2.625% 11/20/14		1,000,000		1,037,812
0.500% 11/21/14		1,000,000		1,000,528
0.550% 2/27/15		300,000		300,853
0.375% 3/16/15		1,000,000		1,000,766

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
0.375% 3/25/15	$	200,000	$	200,032
0.500% 7/2/15		1,000,000		1,002,480
2.375% 7/28/15		1,200,000		1,256,009
1.875% 9/9/15		250,000		258,894
0.500% 9/28/15		1,200,000		1,203,006
0.480% 10/9/15		1,250,000		1,251,419
1.875% 10/15/15		100,000		103,612
0.750% 11/24/15		1,250,000		1,251,173
0.375% 12/21/15		500,000		499,145
0.500% 1/29/16		750,000		750,023
5.000% 3/15/16		1,150,000		1,302,187
5.000% 2/13/17		1,000,000		1,165,627
5.000% 5/11/17		1,390,000		1,631,920
5.375% 6/12/17		1,450,000		1,729,384
0.950% 8/23/17		500,000		500,681
0.875% 8/28/17		1,000,000		1,003,775
1.000% 9/27/17		250,000		250,535
0.875% 10/26/17		500,000		501,094
0.900% 11/7/17		300,000		299,389
0.875% 2/8/18		1,000,000		998,852
1.750% 1/30/19		200,000		201,595
1.700% 10/4/19		200,000		199,911
2.200% 10/25/22		75,000		74,997
4.500% 6/1/39		934,751		1,006,647
				59,079,584
U.S. Treasuries (44.6%)
U.S. Treasury Bonds
11.250% 2/15/15		3,930,000		4,737,205
9.250% 2/15/16		3,000,000		3,763,008
7.500% 11/15/16		2,500,000		3,127,905
9.125% 5/15/18		840,000		1,192,685
8.875% 2/15/19		500,000		727,778
8.125% 8/15/19		1,980,000		2,848,493
8.750% 8/15/20		2,880,000		4,404,909
2.000% 1/15/26 TIPS		610,000		921,295
2.375% 1/15/27 TIPS		800,000		1,243,175
1.750% 1/15/28 TIPS		5,100,000		7,125,729
2.500% 1/15/29 TIPS		980,000		1,468,284
3.875% 4/15/29 TIPS		320,000		728,237
U.S. Treasury Notes
0.250% 10/31/13		10,000,000		10,006,689
0.250% 11/30/13		8,600,000		8,605,711
1.000% 1/15/14		12,400,000		12,483,433
1.000% 5/15/14		3,000,000		3,027,305
0.250% 5/31/14		6,500,000		6,504,666
0.250% 6/30/14		4,000,000		4,002,852
2.625% 6/30/14		5,000,000		5,150,879
0.125% 7/31/14		1,500,000		1,498,440
0.500% 8/15/14		4,500,000		4,518,127
4.250% 8/15/14		1,500,000		1,583,174
0.250% 8/31/14		9,000,000		9,004,570
2.375% 8/31/14		9,200,000		9,480,672
0.250% 9/30/14		8,000,000		8,003,946
2.375% 9/30/14		8,000,000		8,258,398
0.500% 10/15/14		8,000,000		8,033,828
0.250% 10/31/14		9,000,000		9,003,956
4.250% 11/15/14		2,700,000		2,875,711
0.250% 11/30/14		2,500,000		2,500,977
0.125% 12/31/14		5,000,000		4,991,406
2.625% 12/31/14		8,500,000		8,853,572
0.250% 1/31/15		5,000,000		5,001,172
2.250% 1/31/15		5,500,000		5,702,651
0.250% 2/15/15		2,500,000		2,499,927
4.000% 2/15/15		2,410,000		2,578,688
2.375% 2/28/15		5,000,000		5,202,368
0.375% 3/15/15		3,000,000		3,007,236
0.250% 3/31/15		2,500,000		2,500,293
2.500% 3/31/15		4,000,000		4,179,141
0.375% 4/15/15		2,000,000		2,004,473
2.500% 4/30/15		9,000,000		9,416,514
0.250% 5/15/15		2,000,000		1,999,082
4.125% 5/15/15		2,000,000		2,162,578
2.125% 5/31/15		2,200,000		2,287,570
0.375% 6/15/15		3,000,000		3,006,211
1.875% 6/30/15		8,550,000		8,855,179
0.250% 7/15/15		5,000,000		4,996,094
0.250% 8/15/15		1,750,000		1,748,052
4.250% 8/15/15		2,790,000		3,050,854
0.250% 9/15/15		2,000,000		1,997,168
1.250% 9/30/15		6,450,000		6,601,865
1.250% 10/31/15		5,000,000		5,119,239
0.375% 11/15/15		4,000,000		4,006,094
1.375% 11/30/15		8,150,000		8,375,398
0.250% 12/15/15		3,000,000		2,993,672
0.375% 1/15/16		3,000,000		3,003,223
0.375% 2/15/16		3,250,000		3,252,094
4.500% 2/15/16		2,000,000		2,237,344
2.625% 2/29/16		4,000,000		4,262,500
0.375% 3/15/16		2,500,000		2,501,563
2.375% 3/31/16		3,000,000		3,179,062
5.125% 5/15/16		3,350,000		3,840,199
3.250% 6/30/16		3,000,000		3,274,219
3.125% 10/31/16		5,400,000		5,907,938
0.875% 12/31/16		4,000,000		4,054,102
3.250% 12/31/16		2,350,000		2,589,245
3.125% 1/31/17		2,200,000		2,416,734
4.625% 2/15/17		4,450,000		5,147,572
0.875% 2/28/17		3,500,000		3,544,946
3.000% 2/28/17		4,300,000		4,708,542
1.000% 3/31/17		3,000,000		3,052,207
3.250% 3/31/17		2,400,000		2,655,187
3.125% 4/30/17		1,000,000		1,102,578
4.500% 5/15/17		2,000,000		2,318,730
2.750% 5/31/17		3,000,000		3,266,484
2.375% 7/31/17		3,000,000		3,223,828
4.750% 8/15/17		2,600,000		3,063,227
0.625% 8/31/17		3,000,000		2,996,778
1.875% 8/31/17		3,500,000		3,687,988
1.875% 9/30/17		3,200,000		3,371,812
0.750% 10/31/17		2,500,000		2,507,251
1.875% 10/31/17		2,000,000		2,107,520
0.625% 11/30/17		3,000,000		2,989,951
2.250% 11/30/17		1,150,000		1,232,207
0.750% 12/31/17		2,400,000		2,403,258
2.625% 1/31/18		2,500,000		2,725,903
3.500% 2/15/18		2,500,000		2,830,395
0.750% 2/28/18		2,500,000		2,499,487
2.625% 4/30/18		3,000,000		3,275,567
2.375% 5/31/18		3,000,000		3,239,121
2.250% 7/31/18		2,000,000		2,147,109
4.000% 8/15/18		1,300,000		1,517,623
1.500% 8/31/18		2,000,000		2,067,656
1.375% 9/30/18		4,500,000		4,620,938
3.750% 11/15/18		5,110,000		5,915,025
1.375% 12/31/18		5,000,000		5,122,559
2.750% 2/15/19		5,600,000		6,174,109
1.500% 3/31/19		6,500,000		6,690,239

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Principal Amount		Value (Note 1)
1.250% 4/30/19	$	2,000,000	$	2,026,953
3.125% 5/15/19		5,650,000		6,365,133
1.000% 6/30/19		5,000,000		4,980,078
0.875% 7/31/19		1,500,000		1,480,591
3.625% 8/15/19		2,000,000		2,316,250
1.250% 10/31/19		1,000,000		1,007,334
1.125% 12/31/19		2,000,000		1,992,754
3.625% 2/15/20		6,000,000		6,971,660
1.250% 2/29/20		2,500,000		2,503,882
1.125% 3/31/20		2,500,000		2,478,294
3.500% 5/15/20		4,000,000		4,618,828
2.625% 8/15/20		6,850,000		7,482,555
2.625% 11/15/20		6,000,000		6,544,160
3.625% 2/15/21		5,000,000		5,825,000
3.125% 5/15/21		5,000,000		5,630,176
2.125% 8/15/21		5,750,000		6,008,806
2.000% 11/15/21		4,700,000		4,846,921
2.000% 2/15/22		16,900,000		17,373,497
1.750% 5/15/22		2,000,000		2,005,801
1.625% 8/15/22		3,100,000		3,059,978
1.625% 11/15/22		12,000,000		11,787,539
0.125% 1/15/23 TIPS		1,600,000		1,721,946
2.000% 2/15/23		18,300,000		18,531,608
				530,252,298
Total Government Securities				767,956,105
Total Long-Term Debt Securities (103.0%) (Cost $1,171,204,385)				1,223,995,528
	Number of Shares		Value (Note 1)
PREFERRED STOCK:
Financials (0.2%)
Consumer Finance (0.2%)
Ally Financial, Inc.
7.300%		52,000		1,326,000
7.350%		26,000		665,860
Total Preferred Stocks (0.2%) (Cost $1,770,600)				1,991,860
COMMON STOCKS:
Consumer Discretionary (0.0%)
Media (0.0%)
Network Communications, Inc. (ADR)(b)*† *		310,800		—
Total Consumer Discretionary				—
Energy (0.0%)
Oil, Gas & Consumable Fuels (0.0%)
General Maritime Corp.(b)*† *		1,166		19,676
Total Energy				19,676
Total Common Stocks (0.0%) (Cost $15,540)				19,676
	Number of Warrants		Value (Note 1)
WARRANTS:
Energy (0.0%)
Oil, Gas & Consumable Fuels (0.0%)
General Maritime Corp., expiring 5/17/17(b)*†		1,803		—
Total Energy				—
Industrials (0.1%)
Marine (0.1%)
Horizon Lines, Inc., expiring 12/31/16(b)*†		14,763,286		826,744
Total Industrials				826,744
Total Warrants (0.1%) (Cost $1,447,432)				826,744
	Principal Amount		Value (Note 1)
SHORT-TERM INVESTMENTS:
Certificate of Deposit (0.0%)
Itau Unibanco Holding S.A.
1.42%, 10/31/13 (p)	$	400,000		396,646
Commercial Paper (0.1%)
Daimler Finance N.A. LLC
0.59%, 10/15/13 (n)(p)		1,500,000		1,495,162
Government Securities (1.8%)
Federal Home Loan Bank
0.11%, 4/12/13 (o)(p)		29,000		28,999
0.10%, 5/8/13 (o)(p)		600,000		599,934
Federal Home Loan Mortgage Corp.
0.14%, 10/8/13 (o)(p)		1,400,000		1,398,957
U.S. Treasury Bills
0.04%, 4/18/13 (p)		1,700,000		1,699,968
0.11%, 11/14/13 #(p)		5,790,000		5,785,804
0.12%, 1/9/14 (p)		6,412,000		6,405,956
0.13%, 2/6/14 (p)		4,937,000		4,931,565
0.13%, 3/6/14 (p)		400,000		399,501
Total Government Securities				21,250,684
Time Deposit (0.5%)
Banco do Brasil S.A.
2.52%, 2/14/14 (p)		5,600,000		5,597,973
Total Short-Term Investments (2.4%) (Cost $28,730,216)				28,740,465
Total Investments (105.7%) (Cost $1,203,168,173)				1,255,574,273
Other Assets Less Liabilities (-5.7%)				(67,601,829	)
Net Assets (100%)			$	1,187,972,444

* Non-income producing.

† Securities (totaling $6,572,002 or 0.6% of net assets) at fair value by management.

§ Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At March 31, 2013, the market value of these securities amounted to $100,090,103 or 8.4% of net assets. Securities denoted with “§” but without “b” have been determined to be liquid under the guidelines established by the Board of Trustees. To the extent any securities might provide a right to demand registration, such rights have not been relied upon when determining liquidity.

# All, or a portion of security held by broker as collateral for financial futures contracts, with a total collateral value of $318,769.

(b) Illiquid Security.

(h) Security in default.

See Notes to Portfolio of Investments.

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March 31, 2013 (Unaudited)

(l) Floating Rate Security. Rate disclosed is as of March 31, 2013.

(m) Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At March 31, 2013, the market value of these securities amounted to $2,585,101 or 0.2% of net assets.

(n) Section 4(2) Commercial Paper. Private placement for non-current transactions. Notes are usually sold to accredited investors without the intent to freely re-sell their holding.

(o) Discount Note Security. Effective rate calculated as of March 31, 2013.

(p) Yield to maturity.

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Glossary:

ADR — American Depositary Receipt

AUD — Australian Dollar

CMO — Collateralized Mortgage Obligation

EUR — European Currency Unit

GBP — British Pound

JPY — Japanese Yen

PIK — Payment-in Kind Security

TBA — To Be Announced; Security is subject to delayed delivery

TIPS — Treasury Inflation Protected Security

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Purchase
10 Year Australian Bonds		154		June-13	$	19,101,710	$	19,497,171	$	395,461
Sales
5 Year U.S. Treasury Notes		105		June-13	$	12,964,839	$	13,025,742	$	(60,903	)
									$	334,558

At March 31, 2013, the Portfolio had outstanding foreign currency contracts to buy/sell foreign currencies as follows: (Note 1)

	Counterparty	Local Contract  Buy Amount (000’s)		U.S. $ Current Value		U.S. $ Settlement Value		Unrealized Appreciation/ (Depreciation)
Foreign Currency Buy Contracts
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Barclays Bank plc		303	$	314,762	$	313,163	$	1,599
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Westpac Banking Corp.		162		168,289		168,326		(37	)
Chinese Renminbi vs. U.S. Dollar, expiring 11/25/13	Bank of America		32,689		5,198,411		5,219,000		(20,589	)
Japanese Yen vs. U.S. Dollar, expiring 4/17/13	Westpac Banking Corp.		67,687		719,109		724,573		(5,464	)
Mexican Peso vs. U.S. Dollar, expiring 4/3/13	JPMorgan Chase Bank		118		9,564		9,039		525
								$	(23,966	)

	Counterparty	Local Contract  Sell Amount (000’s)		U.S. $ Settlement Value		U.S. $ Current Value		Unrealized Appreciation/ (Depreciation)
Foreign Currency Sell Contracts
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Bank of America		3,084	$	3,158,469	$	3,203,721	$	(45,252	)
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Barclays Bank plc		200		207,365		207,764		(399	)
Australian Dollar vs. U.S. Dollar, expiring 5/2/13	Citibank N.A.		223		233,069		231,657		1,412
British Pound vs. U.S. Dollar, expiring 5/3/13	JPMorgan Chase Bank		900		1,422,294		1,367,273		55,021
British Pound vs. U.S. Dollar, expiring 6/12/13	Barclays Bank plc		4,644		6,985,969		7,053,669		(67,700	)
Chinese Renminbi vs. U.S. Dollar, expiring 11/25/13	HSBC Bank plc		32,689		5,175,209		5,198,411		(23,202	)
European Union Euro vs. U.S. Dollar, expiring 4/15/13	JPMorgan Chase Bank		2,900		3,866,845		3,717,672		149,173
European Union Euro vs. U.S. Dollar, expiring 4/15/13	JPMorgan Chase Bank		275		367,079		352,538		14,541
European Union Euro vs. U.S. Dollar, expiring 5/24/13	JPMorgan Chase Bank		750		974,460		961,737		12,723
European Union Euro vs. U.S. Dollar, expiring 5/28/13	JPMorgan Chase Bank		500		639,226		641,178		(1,952	)

See Notes to Portfolio of Investments.

149

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MULTIMANAGER MULTI-SECTOR BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Counterparty	Local Contract  Sell Amount (000’s)		U.S. $ Settlement Value		U.S. $ Current Value		Unrealized Appreciation/ (Depreciation)
Foreign Currency Sell Contracts
European Union Euro vs. U.S. Dollar, expiring 6/17/13	Barclays Bank plc		6,348	$	8,298,239	$	8,141,693	$	156,546
Japanese Yen vs. U.S. Dollar, expiring 4/17/13	Barclays Bank plc		74,677		806,763		793,371		13,392
Japanese Yen vs. U.S. Dollar, expiring 4/17/13	Westpac Banking Corp.		228,966		2,569,423		2,432,543		136,880
								$	401,183
								$	377,217

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Asset-Backed and Mortgage-Backed
Securities
Asset-Backed Securities	$	—	$	2,728,836	$	3,980,336	$	6,709,172
Non-Agency CMO		—		24,331,023		—		24,331,023
Common Stocks
Consumer Discretionary		—		—		—		—
Energy		—		—		19,676		19,676
Convertible Bonds
Energy		—		960,719		—		960,719
Corporate Bonds
Consumer Discretionary		—		36,666,598		748,646		37,415,244
Consumer Staples		—		31,534,901		—		31,534,901
Energy		—		35,007,568		—		35,007,568
Financials		—		151,052,863		—		151,052,863
Health Care		—		39,578,101		—		39,578,101
Industrials		—		38,004,020		996,600		39,000,620
Information Technology		—		24,156,988		—		24,156,988
Materials		—		23,124,079		—		23,124,079
Telecommunication Services		—		18,930,450		—		18,930,450
Utilities		—		24,237,695		—		24,237,695
Forward Currency Contracts		—		541,812		—		541,812
Futures		395,461		—		—		395,461
Government Securities
Agency CMO		—		100,664,185		—		100,664,185
Foreign Governments		—		31,972,062		—		31,972,062
Municipal Bonds		—		25,420,650		—		25,420,650
Supranational		—		20,567,326		—		20,567,326
U.S. Government Agencies		—		59,079,584		—		59,079,584
U.S. Treasuries		—		530,252,298		—		530,252,298
Preferred Stocks
Financials		1,991,860		—		—		1,991,860
Short-Term Investments		—		28,740,465		—		28,740,465
Warrants
Energy		—		—		—		—
Industrials		—		—		826,744		826,744
Total Assets	$	2,387,321	$	1,247,552,223	$	6,572,002	$	1,256,511,546

See Notes to Portfolio of Investments.

150

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MULTIMANAGER MULTI-SECTOR BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investment Type	Level 1 Quoted prices in active markets for identical securities			Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)			Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Liabilities:
Forward Currency Contracts	$	–		$	(164,595	)	$	–	$	(164,595	)
Futures		(60,903	)		–			–		(60,903	)
Total Liabilities	$	(60,903	)	$	(164,595	)	$	–	$	(225,498	)
Total	$	2,326,418		$	1,247,387,628		$	6,572,002	$	1,256,286,048

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

	Investments  in Bonds- Asset-Backed Securities		Investments in Corporate Bonds- Consumer Discretionary
Balance as of 12/31/12	$	3,813,357	$	831,829
Total gains or losses (realized/unrealized) included in earnings		166,979		(83,183	)
Purchases		—		—
Sales		—		—
Issuances		—		—
Settlements		—		—
Transfers into Level 3		—		—
Transfers out of Level 3		—		—
Balance as of 3/31/13	$	3,980,336	$	748,646
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	166,979	$	(83,183	)

	Investments in Corporate Bonds- Industrials		Investments in Common Stocks- Consumer Discretionary
Balance as of 12/31/12	$	981,860	$	15,540
Total gains or losses (realized/unrealized) included in earnings		14,740		(15,540	)
Purchases		—		—
Sales		—		—
Issuances		—		—
Settlements		—		—
Transfers into Level 3		—		—
Transfers out of Level 3		—		—
Balance as of 3/31/13	$	996,600	$	—
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	14,740	$	(15,540	)

See Notes to Portfolio of Investments.

151

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MULTIMANAGER MULTI-SECTOR BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Investments in Common Stocks- Energy†			Investments in Warrants- Energy††		Investments in Warrants- Industrials
Balance as of 12/31/12	$	26,235		$	—	$	885,797
Total gains or losses (realized/unrealized) included in earnings		(6,559	)		—		(59,053	)
Purchases		—			—		—
Sales		—			—		—
Issuances		—			—		—
Settlements		—			—		—
Transfers into Level 3		—			—		—
Transfers out of Level 3		—			—		—
Balance as of 3/31/13	$	19,676		$	—	$	826,744
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	(6,559	)	$	—	$	(59,053	)

† Security received through corporate action with $0 cost.

†† Security represents level 3 investments with $0 Cost and Market Value.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	522,506,026
Long-term U.S. government debt securities		77,963,690
	$	600,469,716
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	502,584,432
Long-term U.S. government debt securities		91,240,898
	$	593,825,330

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	57,166,952
Aggregate gross unrealized depreciation		(5,345,860	)
Net unrealized appreciation	$	51,821,092
Federal income tax cost of investments	$	1,203,753,181

See Notes to Portfolio of Investments.

152

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MULTIMANAGER SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Consumer Discretionary (14.3%)
Auto Components (1.0%)
Cooper Tire & Rubber Co.		13,472	$	345,692
Dana Holding Corp.		3,877		69,127
Dorman Products, Inc.		6,086		226,460
Drew Industries, Inc.		2,301		83,549
Fuel Systems Solutions, Inc.*		787		12,962
Gentherm, Inc.*		258,949		4,241,584
Tenneco, Inc.*		15,076		592,638
Tower International, Inc.*		1,303		18,242
				5,590,254
Automobiles (0.0%)
Winnebago Industries, Inc.*		2,116		43,674
Distributors (0.1%)
Core-Mark Holding Co., Inc.		492		25,245
Pool Corp.		11,774		565,152
Weyco Group, Inc.		149		3,652
				594,049
Diversified Consumer Services (0.6%)
American Public Education, Inc.*		4,513		157,459
Bridgepoint Education, Inc.*		4,393		44,940
Bright Horizons Family Solutions, Inc.*		1,753		59,234
Capella Education Co.*		3,064		95,413
Coinstar, Inc.*		6,939		405,376
Collectors Universe		1,341		15,784
Grand Canyon Education, Inc.*		9,965		253,011
Hillenbrand, Inc.		13,686		345,982
K12, Inc.*		6,609		159,343
LifeLock, Inc.*		104,171		1,003,166
Mac-Gray Corp.		428		5,478
Matthews International Corp., Class A		3,394		118,417
National American University Holdings, Inc.		1,245		4,856
Sotheby’s, Inc.		5,887		220,233
Steiner Leisure Ltd.*		3,778		182,704
Strayer Education, Inc.		2,922		141,366
Universal Technical Institute, Inc.		3,604		45,519
				3,258,281
Hotels, Restaurants & Leisure (5.0%)
AFC Enterprises, Inc.*		23,164		841,548
Ameristar Casinos, Inc.		7,102		186,285
Bally Technologies, Inc.*		59,500		3,092,215
Biglari Holdings, Inc.*		30		11,196
BJ’s Restaurants, Inc.*		6,114		203,474
Bloomin’ Brands, Inc.*		3,133		55,987
Bob Evans Farms, Inc.		1,009		43,004
Boyd Gaming Corp.*		1,050		8,684
Bravo Brio Restaurant Group, Inc.*		4,886		77,345
Buffalo Wild Wings, Inc.*		4,618		404,214
Caesars Entertainment Corp.*		8,345		132,352
Carrols Restaurant Group, Inc.*		2,633		13,665
CEC Entertainment, Inc.		4,521		148,063
Cheesecake Factory, Inc.		13,439		518,880
Churchill Downs, Inc.		1,083		75,853
Chuy’s Holdings, Inc.*		33,537		1,092,635
Cracker Barrel Old Country Store, Inc.		4,783		386,706
Del Frisco’s Restaurant Group, Inc.*		32,298		536,147
Denny’s Corp.*		19,094		110,172
DineEquity, Inc.		3,814		262,365
Domino’s Pizza, Inc.		14,451		743,359
Dunkin’ Brands Group, Inc.		46,292		1,707,249
Einstein Noah Restaurant Group, Inc.		1,296		19,220
Fiesta Restaurant Group, Inc.*		271,357		7,209,954
Ignite Restaurant Group, Inc.*		1,681		24,677
Interval Leisure Group, Inc.		9,614		209,008
Jack in the Box, Inc.*		8,924		308,681
Jamba, Inc.*		20,497		58,416
Krispy Kreme Doughnuts, Inc.*		133,966		1,934,469
Life Time Fitness, Inc.*		9,857		421,682
Morgans Hotel Group Co.*		2,681		15,872
MTR Gaming Group, Inc.*		5,712		18,850
Multimedia Games Holding Co., Inc.*		53,249		1,111,307
Nathan’s Famous, Inc.*		667		28,181
Papa John’s International, Inc.*		4,222		261,004
Pinnacle Entertainment, Inc.*		923		13,494
Premier Exhibitions, Inc.*		6,460		17,184
Red Robin Gourmet Burgers, Inc.*		1,668		76,061
Ruth’s Hospitality Group, Inc.*		8,902		84,925
Scientific Games Corp., Class A*		1,907		16,686
SHFL Entertainment, Inc.*		13,632		225,882
Six Flags Entertainment Corp.		9,247		670,223
Sonic Corp.*		69,442		894,413
Texas Roadhouse, Inc.		15,608		315,126
Town Sports International Holdings, Inc.		5,855		55,388
Vail Resorts, Inc.		56,236		3,504,628
				28,146,729
Household Durables (1.4%)
American Greetings Corp., Class A		627		10,095
Blyth, Inc.		2,628		45,622
Cavco Industries, Inc.*		1,568		74,590
Ethan Allen Interiors, Inc.		5,200		171,184
iRobot Corp.*		64,827		1,663,460
La-Z-Boy, Inc.		3,862		72,876
Libbey, Inc.*		5,061		97,829
Meritage Homes Corp.*		1,832		85,848
Ryland Group, Inc.		6,272		261,041
Skullcandy, Inc.*		4,088		21,585
SodaStream International Ltd.*		19,225		954,329
Tempur-Pedic International, Inc.*		85,600		4,248,327
TRI Pointe Homes, Inc.*		305		6,146
Zagg, Inc.*		6,447		46,934
				7,759,866
Internet & Catalog Retail (1.2%)
Blue Nile, Inc.*		58,140		2,002,922
CafePress, Inc.*		1,159		6,966
Geeknet, Inc.*		1,098		16,217
Groupon, Inc.*		233,598		1,429,620
HSN, Inc.		8,932		490,010
Kayak Software Corp.*		624		24,935
MakeMyTrip Ltd.*		83,631		1,162,471
Nutrisystem, Inc.		7,200		61,056
Ocado Group plc*		524,932		1,260,221
Orbitz Worldwide, Inc.*		5,799		33,112
Overstock.com, Inc.*		3,006		37,034
Peixe Urbano, Inc. (ADR)(b)*†		10,195		18,371
PetMed Express, Inc.		5,070		68,014
Shutterfly, Inc.*		2,280		100,708
U.S. Auto Parts Network, Inc.*		3,803		4,564
Vitacost.com, Inc.*		5,563		40,220
				6,756,441
Leisure Equipment & Products (0.3%)
Arctic Cat, Inc.*		3,118		136,257
Brunswick Corp.		22,251		761,429

See Notes to Portfolio of Investments.

153

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MULTIMANAGER SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
LeapFrog Enterprises, Inc.*		12,775	$	109,354
Marine Products Corp.		1,697		12,490
Smith & Wesson Holding Corp.*		16,421		147,789
Sturm Ruger & Co., Inc.		4,784		242,692
				1,410,011
Media (1.3%)
Aimia, Inc.		80,914		1,226,633
Arbitron, Inc.		6,592		308,967
Belo Corp., Class A		8,759		86,101
Carmike Cinemas, Inc.*		1,432		25,948
Crown Media Holdings, Inc., Class A*		1,466		3,005
Global Sources Ltd.*		742		5,610
Legendary Pictures, Inc. (ADR)(b)*†		577		825,673
Lions Gate Entertainment Corp.*		19,801		470,670
MDC Partners, Inc., Class A		2,481		40,118
Morningstar, Inc.		24,469		1,710,872
National CineMedia, Inc.		4,785		75,507
Nexstar Broadcasting Group, Inc., Class A		733		13,194
Outdoor Channel Holdings, Inc.		1,103		9,839
Pandora Media, Inc.*		64,615		914,948
ReachLocal, Inc.*		2,541		38,013
Rentrak Corp.*		1,430		31,431
Shutterstock, Inc.*		20,740		932,885
Sinclair Broadcast Group, Inc., Class A		937		18,965
Valassis Communications, Inc.		6,092		181,968
Value Line, Inc.		392		3,693
World Wrestling Entertainment, Inc., Class A		6,185		54,552
				6,978,592
Multiline Retail (0.0%)
Gordmans Stores, Inc.*		2,141		25,071
Specialty Retail (3.0%)
Aeropostale, Inc.*		20,324		276,406
America’s Car-Mart, Inc.*		13,260		619,772
ANN, Inc.*		12,122		351,780
Asbury Automotive Group, Inc.*		20,746		761,171
Barnes & Noble, Inc.*		608		10,002
bebe stores, Inc.		896		3,736
Body Central Corp.*		4,087		38,418
Buckle, Inc.		6,948		324,124
Cabela’s, Inc.*		10,538		640,500
Cato Corp., Class A		6,855		165,480
Children’s Place Retail Stores, Inc.*		2,320		103,982
Christopher & Banks Corp.*		476,919		3,066,590
Citi Trends, Inc.*		44,771		458,007
Conn’s, Inc.*		323		11,596
Destination Maternity Corp.		1,495		34,983
Express, Inc.*		22,193		395,257
Finish Line, Inc., Class A		4,875		95,501
Five Below, Inc.*		73,542		2,786,507
Francesca’s Holdings Corp.*		8,624		247,164
Genesco, Inc.*		6,069		364,686
hhgregg, Inc.*		287		3,171
Hibbett Sports, Inc.*		6,563		369,300
Hot Topic, Inc.		10,415		144,560
Jos. A. Bank Clothiers, Inc.*		6,474		258,313
Lithia Motors, Inc., Class A		12,043		571,802
Lumber Liquidators Holdings, Inc.*		15,050		1,056,812
MarineMax, Inc.*		41,363		562,123
Mattress Firm Holding Corp.*		2,783		96,125
Men’s Wearhouse, Inc.		2,694		90,033
Monro Muffler Brake, Inc.		7,688		305,290
New York & Co., Inc.*		4,250		17,383
Penske Automotive Group, Inc.		2,775		92,574
Pier 1 Imports, Inc.		24,190		556,370
Restoration Hardware Holdings, Inc.*		205		7,175
rue21, Inc.*		3,914		115,032
Select Comfort Corp.*		14,058		277,927
Systemax, Inc.		222		2,198
Tile Shop Holdings, Inc.*		31,712		666,269
Tilly’s, Inc., Class A*		2,321		29,523
Vitamin Shoppe, Inc.*		7,320		357,582
Winmark Corp.		563		35,463
Zumiez, Inc.*		5,378		123,156
				16,493,843
Textiles, Apparel & Luxury Goods (0.4%)
Cherokee, Inc.		1,790		24,523
Crocs, Inc.*		22,509		333,583
Fifth & Pacific Cos., Inc.*		1,564		29,528
G-III Apparel Group Ltd.*		534		21,419
Maidenform Brands, Inc.*		4,264		74,748
Movado Group, Inc.		323		10,827
Oxford Industries, Inc.		3,485		185,054
R.G. Barry Corp.		2,003		26,820
Steven Madden Ltd.*		9,776		421,737
True Religion Apparel, Inc.		6,393		166,921
Tumi Holdings, Inc.*		5,468		114,500
Vera Bradley, Inc.*		4,976		117,583
Wolverine World Wide, Inc.		12,130		538,208
				2,065,451
Total Consumer Discretionary				79,122,262
Consumer Staples (3.2%)
Beverages (0.7%)
Boston Beer Co., Inc., Class A*		20,960		3,346,055
Coca-Cola Bottling Co. Consolidated		1,163		70,152
Craft Brew Alliance, Inc.*		1,285		9,560
Crimson Wine Group Ltd.*		36,990		344,007
National Beverage Corp.		2,768		38,890
				3,808,664
Food & Staples Retailing (0.4%)
Arden Group, Inc., Class A		177		17,893
Casey’s General Stores, Inc.		9,536		555,949
Chefs’ Warehouse, Inc.*		2,785		51,439
Harris Teeter Supermarkets, Inc.		1,554		66,371
Natural Grocers by Vitamin Cottage, Inc.*		16,426		370,406
Pantry, Inc.*		413		5,150
Pricesmart, Inc.		4,561		354,983
Rite Aid Corp.*		14,491		27,533
Roundy’s, Inc.		5,063		33,264
SUPERVALU, Inc.		39,878		200,985
Susser Holdings Corp.*		1,202		61,434
United Natural Foods, Inc.*		12,155		598,026
				2,343,433
Food Products (1.0%)
Alico, Inc.		378		17,483
Annie’s, Inc.*		52,038		1,990,975
B&G Foods, Inc.		13,061		398,230
Calavo Growers, Inc.		3,020		86,916
Cal-Maine Foods, Inc.		3,147		133,936
Darling International, Inc.*		8,835		158,677
Hain Celestial Group, Inc.*		9,180		560,714
Inventure Foods, Inc.*		3,290		25,596
J&J Snack Foods Corp.		3,704		284,801

See Notes to Portfolio of Investments.

154

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Lancaster Colony Corp.		4,624	$	356,048
Lifeway Foods, Inc.		1,112		15,457
Limoneira Co.		2,195		42,407
Pilgrim’s Pride Corp.*		12,318		113,202
Post Holdings, Inc.*		4,601		197,521
Sanderson Farms, Inc.		5,741		313,573
Snyders-Lance, Inc.		9,750		246,285
Tootsie Roll Industries, Inc.		5,766		172,459
TreeHouse Foods, Inc.*		6,056		394,548
				5,508,828
Household Products (0.1%)
Central Garden & Pet Co., Class A*		1,438		11,820
Orchids Paper Products Co.		689		16,074
Spectrum Brands Holdings, Inc.		4,792		271,180
WD-40 Co.		3,916		214,479
				513,553
Personal Products (1.0%)
Elizabeth Arden, Inc.*		5,348		215,258
Female Health Co.		4,721		34,180
Inter Parfums, Inc.		2,982		72,850
Medifast, Inc.*		3,069		70,341
Nature’s Sunshine Products, Inc.		1,758		26,792
Prestige Brands Holdings, Inc.*		199,169		5,116,653
Star Scientific, Inc.*		36,899		61,252
Synutra International, Inc.*		4,399		20,675
USANA Health Sciences, Inc.*		1,343		64,907
				5,682,908
Tobacco (0.0%)
Vector Group Ltd.		10,343		166,729
Total Consumer Staples				18,024,115
Energy (4.3%)
Energy Equipment & Services (0.8%)
C&J Energy Services, Inc.*		3,462		79,280
Dril-Quip, Inc.*		10,017		873,182
Forum Energy Technologies, Inc.*		5,856		168,419
Geospace Technologies Corp.*		11,351		1,225,000
Global Geophysical Services, Inc.*		5,101		12,497
Gulfmark Offshore, Inc., Class A		1,470		57,271
Heckmann Corp.*		2,399		10,292
ION Geophysical Corp.*		32,851		223,715
Lufkin Industries, Inc.		8,410		558,340
Matrix Service Co.*		1,031		15,362
Mitcham Industries, Inc.*		2,042		34,551
PHI, Inc. (Non-Voting)*		254		8,689
Pioneer Energy Services Corp.*		3,270		26,978
RigNet, Inc.*		50,864		1,268,548
TGC Industries, Inc.		3,679		36,422
Willbros Group, Inc.*		2,415		23,715
				4,622,261
Oil, Gas & Consumable Fuels (3.5%)
Abraxas Petroleum Corp.*		1,709,374		3,948,654
Alon USA Energy, Inc.		2,042		38,900
Apco Oil and Gas International, Inc.		2,285		28,334
Approach Resources, Inc.*		8,261		203,303
Berry Petroleum Co., Class A		13,042		603,714
Bonanza Creek Energy, Inc.*		398		15,391
BPZ Resources, Inc.*		7,982		18,119
Carrizo Oil & Gas, Inc.*		8,433		217,318
Ceres, Inc.*		1,501		5,223
Clayton Williams Energy, Inc.*		145		6,341
Clean Energy Fuels Corp.*		16,422		213,486
Contango Oil & Gas Co.		2,883		115,579
Crosstex Energy, Inc.		9,461		182,219
CVR Energy, Inc.		2,787		143,865
Diamondback Energy, Inc.*		1,640		44,018
Endeavour International Corp.*		10,838		31,972
Energy XXI Bermuda Ltd.		14,275		388,566
Evolution Petroleum Corp.*		3,995		40,549
FX Energy, Inc.*		13,581		45,632
GasLog Ltd.		81,793		1,051,858
Gevo, Inc.*		7,274		16,294
Goodrich Petroleum Corp.*		6,478		101,381
Gulfport Energy Corp.*		21,875		1,002,531
Halcon Resources Corp.*		69,405		540,665
Harvest Natural Resources, Inc.*		663		2,327
Isramco, Inc.*		266		26,371
KiOR, Inc., Class A*		6,678		31,053
Kodiak Oil & Gas Corp.*		65,692		597,140
Magnum Hunter Resources Corp.*		1,177,696		4,722,562
Matador Resources Co.*		2,964		26,261
Midstates Petroleum Co., Inc.*		2,781		23,778
Northern Oil and Gas, Inc.*		15,765		226,701
Oasis Petroleum, Inc.*		64,245		2,445,807
Panhandle Oil and Gas, Inc., Class A		1,739		49,822
Renewable Energy Group, Inc.*		452		3,476
Rentech, Inc.		38,833		91,258
REX American Resources Corp.*		185		4,092
Rosetta Resources, Inc.*		13,188		627,485
Sanchez Energy Corp.*		2,934		58,445
Saratoga Resources, Inc.*		5,140		13,672
Solazyme, Inc.*		8,284		64,698
Targa Resources Corp.		7,180		487,953
Uranerz Energy Corp.*		16,403		20,832
Uranium Energy Corp.*		10,174		22,383
VAALCO Energy, Inc.*		14,638		111,102
W&T Offshore, Inc.		647		9,187
Warren Resources, Inc.*		3,019		9,691
Western Refining, Inc.		8,435		298,683
ZaZa Energy Corp.*		2,889		5,229
				18,983,920
Total Energy				23,606,181
Financials (4.6%)
Capital Markets (1.4%)
BGC Partners, Inc., Class A		24,911		103,630
Cohen & Steers, Inc.		4,674		168,591
Diamond Hill Investment Group, Inc.		700		54,467
Duff & Phelps Corp., Class A		2,198		34,091
Evercore Partners, Inc., Class A		675		28,080
Financial Engines, Inc.		64,857		2,349,121
GAMCO Investors, Inc., Class A		1,629		86,516
Greenhill & Co., Inc.		56,191		2,999,476
HFF, Inc., Class A		48,743		971,448
ICG Group, Inc.*		684		8,536
Ladenburg Thalmann Financial Services, Inc.*		26,994		44,810
Main Street Capital Corp.		617		19,800
Piper Jaffray Cos., Inc.*		17,056		585,021
Pzena Investment Management, Inc., Class A		1,525		9,913
Stellus Capital Investment Corp.		367		5,439
Stifel Financial Corp.*		6,540		226,742
Virtus Investment Partners, Inc.*		793		147,720
Westwood Holdings Group, Inc.		1,680		74,642
WisdomTree Investments, Inc.*		14,841		154,346
				8,072,389

See Notes to Portfolio of Investments.

155

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MULTIMANAGER SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Commercial Banks (0.3%)
Arrow Financial Corp.		141	$	3,474
Bank of the Ozarks, Inc.		5,293		234,745
Bridge Capital Holdings*		667		10,165
Eagle Bancorp, Inc.*		232		5,078
FNB United Corp.*		1,885		18,398
Investors Bancorp, Inc.		1,931		36,264
Penns Woods Bancorp, Inc.		90		3,687
Texas Capital Bancshares, Inc.*		8,717		352,603
Westamerica Bancorp		3,900		176,787
Western Alliance Bancorp*		51,599		714,130
				1,555,331
Consumer Finance (0.8%)
Cash America International, Inc.		3,006		157,725
Credit Acceptance Corp.*		1,840		224,738
DFC Global Corp.*		143,501		2,387,856
Encore Capital Group, Inc.*		4,031		121,333
EZCORP, Inc., Class A*		8,102		172,573
First Cash Financial Services, Inc.*		7,141		416,606
Green Dot Corp., Class A*		6,072		101,463
Netspend Holdings, Inc.*		6,989		111,055
Portfolio Recovery Associates, Inc.*		4,283		543,598
Regional Management Corp.*		1,213		24,503
World Acceptance Corp.*		2,390		205,229
				4,466,679
Diversified Financial Services (0.1%)
MarketAxess Holdings, Inc.		9,121		340,213
MicroFinancial, Inc.		769		6,483
				346,696
Insurance (0.5%)
American Safety Insurance Holdings Ltd.*		262		6,540
Amtrust Financial Services, Inc.		1,081		37,457
Donegal Group, Inc., Class A		248		3,787
eHealth, Inc.*		5,143		91,957
First American Financial Corp.		2,518		64,385
Greenlight Capital Reinsurance Ltd. (NASDAQ Exchange), Class A*		41,804		1,022,107
Greenlight Capital Reinsurance Ltd., Class A*		40,049		979,197
Hallmark Financial Services*		357		3,213
Hilltop Holdings, Inc.*		25,396		342,592
Homeowners Choice, Inc.		398		10,846
Meadowbrook Insurance Group, Inc.		1,039		7,325
Montpelier Reinsurance Holdings Ltd.		1,691		44,051
Navigators Group, Inc.*		1,098		64,508
State Auto Financial Corp.		651		11,340
Tower Group International Ltd.		5,427		100,128
Universal Insurance Holdings, Inc.		965		4,680
				2,794,113
Real Estate Investment Trusts (REITs) (1.2%)
Acadia Realty Trust (REIT)		13,194		366,397
Alexander’s, Inc. (REIT)		527		173,747
AmREIT, Inc. (REIT), Class B		207		4,028
Apollo Residential Mortgage, Inc. (REIT)		625		13,931
Associated Estates Realty Corp. (REIT)		5,506		102,632
Coresite Realty Corp. (REIT)		2,591		90,633
CyrusOne, Inc. (REIT)		753		17,199
DuPont Fabros Technology, Inc. (REIT)		7,369		178,846
EastGroup Properties, Inc. (REIT)		6,939		403,850
FelCor Lodging Trust, Inc. (REIT)*		18,859		112,211
Glimcher Realty Trust (REIT)		31,350		363,660
Gyrodyne Co. of America, Inc. (REIT)		291		21,391
Highwoods Properties, Inc. (REIT)		15,786		624,652
Inland Real Estate Corp. (REIT)		8,085		81,578
JAVELIN Mortgage Investment Corp. (REIT)		188		3,694
LTC Properties, Inc. (REIT)		1,613		65,697
Monmouth Real Estate Investment Corp. (REIT), Class A		4,731		52,751
National Health Investors, Inc. (REIT)		6,182		404,612
Omega Healthcare Investors, Inc. (REIT)		28,145		854,483
Potlatch Corp. (REIT)		6,328		290,202
PS Business Parks, Inc. (REIT)		3,805		300,291
Ryman Hospitality Properties (REIT)		5,432		248,514
Saul Centers, Inc. (REIT)		1,889		82,625
Silver Bay Realty Trust Corp. (REIT)		1,410		29,187
Sovran Self Storage, Inc. (REIT)		6,880		443,691
Spirit Realty Capital, Inc. (REIT)		1,486		28,234
Strategic Hotels & Resorts, Inc. (REIT)*		38,234		319,254
Sun Communities, Inc. (REIT)		8,898		438,938
UMH Properties, Inc. (REIT)		730		7,497
Universal Health Realty Income Trust (REIT)		1,843		106,360
Urstadt Biddle Properties, Inc. (REIT), Class A		4,417		96,114
Washington Real Estate Investment Trust (REIT)		5,092		141,761
ZAIS Financial Corp. (REIT)*		169		3,486
				6,472,146
Real Estate Management & Development (0.2%)
Tejon Ranch Co.*		3,302		98,334
Zillow, Inc., Class A*		19,704		1,077,217
				1,175,551
Thrifts & Mortgage Finance (0.1%)
Beneficial Mutual Bancorp, Inc.*		1,036		10,671
BofI Holding, Inc.*		169		6,064
Clifton Savings Bancorp, Inc.		235		2,928
First Federal Bancshares of Arkansas, Inc.*		460		4,600
Heritage Financial Group, Inc.		272		3,939
Home Loan Servicing Solutions Ltd.		15,632		364,694
Meridian Interstate Bancorp, Inc.*		258		4,838
Nationstar Mortgage Holdings, Inc.*		4,752		175,348
Ocwen Financial Corp.*		1,629		61,772
Oritani Financial Corp.		4,012		62,145
Tree.com, Inc.		928		17,159
				714,158
Total Financials				25,597,063
Health Care (17.1%)
Biotechnology (5.5%)
ACADIA Pharmaceuticals, Inc.*		152,883		1,213,891
Achillion Pharmaceuticals, Inc.*		97,689		853,802
Acorda Therapeutics, Inc.*		10,012		320,684
Aegerion Pharmaceuticals, Inc.*		45,354		1,829,579
Affymax, Inc.*		9,146		12,713
Agenus, Inc.*		3,509		13,650
Alkermes plc*		30,508		723,345
Alnylam Pharmaceuticals, Inc.*		13,761		335,356
AMAG Pharmaceuticals, Inc.*		4,290		102,317
Amicus Therapeutics, Inc.*		7,644		24,231

See Notes to Portfolio of Investments.

156

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MULTIMANAGER SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Anacor Pharmaceuticals, Inc.*		3,648	$	23,566
Arena Pharmaceuticals, Inc.*		47,789		392,348
ArQule, Inc.*		14,761		38,231
Array BioPharma, Inc.*		115,216		566,863
AVEO Pharmaceuticals, Inc.*		10,247		75,315
BioCryst Pharmaceuticals, Inc.*		12,443		14,807
Biospecifics Technologies Corp.*		1,241		21,159
Biotime, Inc.*		7,684		29,353
Celldex Therapeutics, Inc.*		118,970		1,377,672
Cepheid, Inc.*		16,353		627,465
ChemoCentryx, Inc.*		1,358		18,768
Clovis Oncology, Inc.*		3,456		99,084
Coronado Biosciences, Inc.*		4,630		45,004
Cubist Pharmaceuticals, Inc.*		15,791		739,335
Curis, Inc.*		15,420		50,578
Cytori Therapeutics, Inc.*		12,178		30,567
Dendreon Corp.*		38,244		180,894
Discovery Laboratories, Inc.*		10,992		25,172
Durata Therapeutics, Inc.*		1,602		14,418
Dyax Corp.*		25,009		109,039
Dynavax Technologies Corp.*		40,595		90,121
Emergent Biosolutions, Inc.*		1,342		18,761
Exact Sciences Corp.*		15,743		154,281
Exelixis, Inc.*		45,998		212,511
Genomic Health, Inc.*		9,992		282,574
GTx, Inc.*		5,795		24,049
Halozyme Therapeutics, Inc.*		22,714		131,060
Hyperion Therapeutics, Inc.*		833		21,508
Idenix Pharmaceuticals, Inc.*		19,573		69,680
ImmunoCellular Therapeutics Ltd.*		11,959		32,768
ImmunoGen, Inc.*		16,239		260,798
Immunomedics, Inc.*		16,861		40,635
Infinity Pharmaceuticals, Inc.*		32,350		1,568,004
Intercept Pharmaceuticals, Inc.*		14,639		547,499
InterMune, Inc.*		11,379		102,980
Ironwood Pharmaceuticals, Inc.*		105,078		1,921,876
Isis Pharmaceuticals, Inc.*		24,984		423,229
KaloBios Pharmaceuticals, Inc.*		1,695		10,170
Keryx Biopharmaceuticals, Inc.*		130,824		921,001
KYTHERA Biopharmaceuticals, Inc.*		906		22,070
Lexicon Pharmaceuticals, Inc.*		21,555		46,990
Ligand Pharmaceuticals, Inc., Class B*		4,421		117,820
LipoScience, Inc.*		70,024		735,952
MannKind Corp.*		33,288		112,846
Merrimack Pharmaceuticals, Inc.*		3,823		23,320
Momenta Pharmaceuticals, Inc.*		4,583		61,137
Neurocrine Biosciences, Inc.*		73,779		895,677
NewLink Genetics Corp.*		3,882		47,632
Novavax, Inc.*		31,143		71,006
NPS Pharmaceuticals, Inc.*		14,532		148,081
OncoGenex Pharmaceutical, Inc.*		3,625		41,071
Oncothyreon, Inc.*		14,469		30,096
Opko Health, Inc.*		26,662		203,431
Orexigen Therapeutics, Inc.*		20,422		127,638
Osiris Therapeutics, Inc.*		4,292		44,637
PDL BioPharma, Inc.		30,028		219,505
Pharmacyclics, Inc.*		13,566		1,090,842
Progenics Pharmaceuticals, Inc.*		11,118		59,926
Puma Biotechnology, Inc.*		26,726		892,381
Raptor Pharmaceutical Corp.*		12,528		73,289
Regulus Therapeutics, Inc.*		2,413		18,701
Repligen Corp.*		724,562		5,006,722
Rigel Pharmaceuticals, Inc.*		17,182		116,666
Sangamo BioSciences, Inc.*		13,103		125,265
Sarepta Therapeutics, Inc.*		24,014		887,317
Seattle Genetics, Inc.*		23,709		841,907
SIGA Technologies, Inc.*		8,747		31,314
Spectrum Pharmaceuticals, Inc.		15,067		112,400
Sunesis Pharmaceuticals, Inc.*		7,468		40,850
Synageva BioPharma Corp.*		2,772		152,238
Synergy Pharmaceuticals, Inc.*		10,375		62,976
Synta Pharmaceuticals Corp.*		9,758		83,919
Tesaro, Inc.*		25,914		569,071
Theravance, Inc.*		15,091		356,449
Threshold Pharmaceuticals, Inc.*		11,388		52,499
Trius Therapeutics, Inc.*		7,358		50,329
Vanda Pharmaceuticals, Inc.*		6,800		26,656
Verastem, Inc.*		1,580		15,200
Vical, Inc.*		17,451		69,455
XOMA Corp.*		17,836		62,248
ZIOPHARM Oncology, Inc.*		16,565		30,314
				30,520,554
Health Care Equipment & Supplies (3.0%)
Abaxis, Inc.		5,417		256,332
ABIOMED, Inc.*		8,463		158,004
Accuray, Inc.*		18,050		83,752
Align Technology, Inc.*		17,901		599,863
Analogic Corp.		3,058		241,643
Anika Therapeutics, Inc.*		2,966		43,066
Antares Pharma, Inc.*		26,135		93,563
ArthroCare Corp.*		5,696		197,993
AtriCure, Inc.*		4,437		35,141
Atrion Corp.		395		75,836
Cantel Medical Corp.		5,354		160,941
Cardiovascular Systems, Inc.*		4,547		93,123
Cerus Corp.*		13,933		61,584
Conceptus, Inc.*		52,324		1,263,625
Cyberonics, Inc.*		6,886		322,334
Cynosure, Inc., Class A*		1,411		36,926
DexCom, Inc.*		97,530		1,630,703
Endologix, Inc.*		77,795		1,256,389
EnteroMedics, Inc.*		9,854		9,854
Exactech, Inc.*		510		10,552
GenMark Diagnostics, Inc.*		74,520		962,798
Globus Medical, Inc., Class A*		1,489		21,859
Haemonetics Corp.*		12,644		526,749
Hansen Medical, Inc.*		14,555		29,256
HeartWare International, Inc.*		4,069		359,822
ICU Medical, Inc.*		2,873		169,363
Insulet Corp.*		35,562		919,633
Integra LifeSciences Holdings Corp.*		2,829		110,359
MAKO Surgical Corp.*		9,633		107,408
Masimo Corp.		12,427		243,818
Meridian Bioscience, Inc.		10,289		234,795
Merit Medical Systems, Inc.*		638		7,822
Natus Medical, Inc.*		4,564		61,340
Navidea Biopharmaceuticals, Inc.*		26,063		70,631
Neogen Corp.*		5,892		292,066
Novadaq Technologies, Inc.*		67,276		666,705
NuVasive, Inc.*		2,709		57,729
NxStage Medical, Inc.*		12,772		144,068
OraSure Technologies, Inc.*		13,776		74,390
Orthofix International N.V.*		3,798		136,234
PhotoMedex, Inc.*		2,794		44,955
Quidel Corp.*		7,111		168,886
Rochester Medical Corp.*		2,323		33,962
Rockwell Medical Technologies, Inc.*		5,900		23,364
RTI Biologics, Inc.*		878		3,459
Spectranetics Corp.*		72,127		1,336,514
STAAR Surgical Co.*		9,184		51,706

See Notes to Portfolio of Investments.

157

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
STERIS Corp.		10,609	$	441,440
SurModics, Inc.*		41,496		1,130,766
Symmetry Medical, Inc.*		2,871		32,873
Tornier N.V.*		2,674		50,405
Unilife Corp.*		21,357		46,558
Utah Medical Products, Inc.		817		39,845
Vascular Solutions, Inc.*		40,024		649,189
Volcano Corp.*		13,306		296,192
West Pharmaceutical Services, Inc.		5,404		350,936
Wright Medical Group, Inc.*		905		21,548
Zeltiq Aesthetics, Inc.*		1,900		7,258
				16,557,925
Health Care Providers & Services (2.8%)
Acadia Healthcare Co., Inc.*		158,015		4,644,061
Accretive Health, Inc.*		13,902		141,244
Air Methods Corp.		108,869		5,251,840
AMN Healthcare Services, Inc.*		6,003		95,027
Amsurg Corp.*		2,606		87,666
Bio-Reference Labs, Inc.*		6,120		158,998
BioScrip, Inc.*		3,054		38,816
Capital Senior Living Corp.*		6,128		161,963
Centene Corp.*		12,784		563,007
Chemed Corp.		4,798		383,744
Corvel Corp.*		1,562		77,303
Emeritus Corp.*		7,618		211,704
Ensign Group, Inc.		2,744		91,650
ExamWorks Group, Inc.*		1,425		24,681
HealthSouth Corp.*		20,169		531,857
IPC The Hospitalist Co., Inc.*		12,319		547,949
Landauer, Inc.		2,410		135,876
LHC Group, Inc.*		257		5,523
Magellan Health Services, Inc.*		349		16,602
Molina Healthcare, Inc.*		625		19,294
MWI Veterinary Supply, Inc.*		7,993		1,057,154
National Research Corp.		635		36,855
Owens & Minor, Inc.		13,497		439,462
PDI, Inc.*		418		2,466
Providence Service Corp.*		844		15,606
Skilled Healthcare Group, Inc., Class A*		4,508		29,618
Team Health Holdings, Inc.*		7,075		257,389
U.S. Physical Therapy, Inc.		2,993		80,362
Vanguard Health Systems, Inc.*		6,930		103,049
WellCare Health Plans, Inc.*		5,209		301,914
				15,512,680
Health Care Technology (2.6%)
athenahealth, Inc.*		63,719		6,183,292
Computer Programs & Systems, Inc.*		2,763		149,506
Greenway Medical Technologies*		1,568		24,931
HealthStream, Inc.*		4,943		113,392
HMS Holdings Corp.*		122,784		3,333,586
MedAssets, Inc.*		4,951		95,307
Medidata Solutions, Inc.*		11,349		658,015
Merge Healthcare, Inc.*		1,216,536		3,515,789
Omnicell, Inc.*		1,023		19,314
Quality Systems, Inc.		9,757		178,358
Vocera Communications, Inc.*		11,475		263,925
				14,535,415
Life Sciences Tools & Services (0.7%)
BG Medicine, Inc.*		2,721		5,061
Cambrex Corp.*		3,874		49,548
Fluidigm Corp.*		54,133		1,002,002
Furiex Pharmaceuticals, Inc.*		1,866		69,938
Harvard Bioscience, Inc.*		464		2,622
Luminex Corp.*		10,547		174,236
PAREXEL International Corp.*		14,898		588,620
Sequenom, Inc.*		22,123		91,810
Techne Corp.		31,037		2,105,861
				4,089,698
Pharmaceuticals (2.5%)
Acura Pharmaceuticals, Inc.*		2,502		5,329
Akorn, Inc.*		325,718		4,504,681
Ampio Pharmaceuticals, Inc.*		5,906		26,990
Auxilium Pharmaceuticals, Inc.*		12,061		208,414
AVANIR Pharmaceuticals, Inc., Class A*		31,615		86,625
BioDelivery Sciences International, Inc.*		6,313		26,578
Cadence Pharmaceuticals, Inc.*		143,744		961,647
Cempra, Inc.*		911		6,149
Corcept Therapeutics, Inc.*		12,150		24,300
Cumberland Pharmaceuticals, Inc.*		1,639		8,162
Depomed, Inc.*		566,112		3,323,077
Endocyte, Inc.*		7,504		93,425
Hi-Tech Pharmacal Co., Inc.		1,043		34,534
Horizon Pharma, Inc.*		5,659		15,336
Impax Laboratories, Inc.*		16,788		259,207
Jazz Pharmaceuticals plc*		10,359		579,172
Medicines Co.*		13,751		459,558
Nektar Therapeutics*		20,313		223,443
Obagi Medical Products, Inc.*		4,283		84,589
Omeros Corp.*		6,501		26,784
Optimer Pharmaceuticals, Inc.*		11,908		141,705
Pacira Pharmaceuticals, Inc.*		4,676		134,949
Pain Therapeutics, Inc.*		9,352		32,077
Pernix Therapeutics Holdings*		2,276		11,289
Pozen, Inc.*		6,812		35,899
Questcor Pharmaceuticals, Inc.		13,426		436,882
Repros Therapeutics, Inc.*		4,616		74,318
Sagent Pharmaceuticals, Inc.*		2,363		41,471
Santarus, Inc.*		75,602		1,310,183
Sciclone Pharmaceuticals, Inc.*		14,339		65,959
Sucampo Pharmaceuticals, Inc., Class A*		2,977		19,470
Transcept Pharmaceuticals, Inc.*		402		1,926
Ventrus Biosciences, Inc.*		4,386		13,114
Vivus, Inc.*		24,734		272,074
XenoPort, Inc.*		9,233		66,016
Zogenix, Inc.*		14,429		25,972
				13,641,304
Total Health Care				94,857,576
Industrials (15.1%)
Aerospace & Defense (0.4%)
Aerovironment, Inc.*		2,640		47,863
American Science & Engineering, Inc.		345		21,042
Astronics Corp.*		2,953		88,058
CPI Aerostructures, Inc.*		1,708		14,638
Cubic Corp.		2,158		92,190
DigitalGlobe, Inc.*		6,237		180,312
GenCorp, Inc.*		11,988		159,440
HEICO Corp.		13,176		571,970
Hexcel Corp.*		24,767		718,490
KEYW Holding Corp.*		2,491		40,180
LMI Aerospace, Inc.*		281		5,842
Moog, Inc., Class A*		1,288		59,029
National Presto Industries, Inc.		130		10,465
SIFCO Industries, Inc.		246		4,529
Sypris Solutions, Inc.		1,772		7,407

See Notes to Portfolio of Investments.

158

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Taser International, Inc.*		12,755	$	101,402
Teledyne Technologies, Inc.*		3,179		249,361
				2,372,218
Air Freight & Logistics (0.6%)
Echo Global Logistics, Inc.*		33,031		730,646
Forward Air Corp.		7,129		265,840
Hub Group, Inc., Class A*		9,276		356,755
Pacer International, Inc.*		1,098		5,523
Park-Ohio Holdings Corp.*		1,989		65,896
XPO Logistics, Inc.*		106,341		1,790,782
				3,215,442
Airlines (0.4%)
Alaska Air Group, Inc.*		16,774		1,072,865
Allegiant Travel Co.		3,741		332,126
Hawaiian Holdings, Inc.*		7,038		40,539
Republic Airways Holdings, Inc.*		6,737		77,745
SkyWest, Inc.		855		13,723
Spirit Airlines, Inc.*		10,323		261,791
U.S. Airways Group, Inc.*		40,457		686,555
				2,485,344
Building Products (0.4%)
A.O. Smith Corp.		2,665		196,064
AAON, Inc.		4,614		127,300
American Woodmark Corp.*		405		13,782
Builders FirstSource, Inc.		11,370		66,628
Insteel Industries, Inc.		201		3,280
Nortek, Inc.*		1,957		139,652
Patrick Industries, Inc.*		1,002		15,792
PGT, Inc.*		2,423		16,646
Simpson Manufacturing Co., Inc.		1,034		31,651
Trex Co., Inc.*		21,079		1,036,665
USG Corp.*		18,557		490,647
				2,138,107
Commercial Services & Supplies (2.6%)
A.T. Cross Co., Class A*		2,303		31,712
ACCO Brands Corp.*		13,137		87,755
Acorn Energy, Inc.		4,538		33,354
ARC Document Solutions, Inc.*		1,358		4,047
Brink’s Co.		11,752		332,112
Casella Waste Systems, Inc., Class A*		466		2,036
CECO Environmental Corp.		1,502		19,421
Consolidated Graphics, Inc.*		91,374		3,572,723
Covanta Holding Corp.		89,377		1,800,947
Deluxe Corp.		8,514		352,480
EnergySolutions, Inc.*		5,165		19,369
EnerNOC, Inc.*		65,407		1,136,120
Healthcare Services Group, Inc.		16,851		431,891
Heritage-Crystal Clean, Inc.*		1,933		29,188
Herman Miller, Inc.		14,460		400,108
HNI Corp.		10,713		380,204
InnerWorkings, Inc.*		8,053		121,922
Interface, Inc.		165,149		3,174,164
Intersections, Inc.		1,554		14,623
Knoll, Inc.		8,260		149,754
McGrath RentCorp.		3,231		100,484
Mine Safety Appliances Co.		6,869		340,840
Multi-Color Corp.		149		3,843
Performant Financial Corp.*		93,937		1,153,546
Standard Parking Corp.*		3,923		81,206
Steelcase, Inc., Class A		2,351		34,630
Team, Inc.*		4,954		203,461
Tetra Tech, Inc.*		12,934		394,358
TMS International Corp., Class A*		1,633		21,556
TRC Cos., Inc.*		3,322		21,427
U.S. Ecology, Inc.		2,922		77,579
United Stationers, Inc.		603		23,306
				14,550,166
Construction & Engineering (1.0%)
Aegion Corp.*		1,393		32,248
Ameresco, Inc., Class A*		3,899		28,853
Argan, Inc.		550		8,201
Comfort Systems USA, Inc.		2,773		39,072
Dycom Industries, Inc.*		7,429		146,277
Great Lakes Dredge & Dock Corp.		1,657		11,152
MasTec, Inc.*		113,670		3,313,480
MYR Group, Inc.*		2,881		70,757
Orion Marine Group, Inc.*		70,953		705,273
Paul Y Engineering Group Ltd.		9,422,000		910,331
Primoris Services Corp.		2,065		45,657
Sterling Construction Co., Inc.*		421		4,585
				5,315,886
Electrical Equipment (0.5%)
Acuity Brands, Inc.		10,528		730,118
American Superconductor Corp.*		1,038		2,761
AZZ, Inc.		6,279		302,648
Belden, Inc.		10,105		521,924
Capstone Turbine Corp.*		75,626		68,063
Coleman Cable, Inc.		2,053		30,795
EnerSys, Inc.*		4,319		196,860
Enphase Energy, Inc.*		1,580		9,796
Franklin Electric Co., Inc.		11,074		371,755
FuelCell Energy, Inc.*		10,136		9,566
Generac Holdings, Inc.		2,857		100,966
II-VI, Inc.*		11,111		189,331
Powell Industries, Inc.*		964		50,677
Preformed Line Products Co.		53		3,708
Solarcity Corp.*		1,505		28,414
Thermon Group Holdings, Inc.*		3,720		82,621
Vicor Corp.*		970		4,821
				2,704,824
Industrial Conglomerates (0.1%)
Raven Industries, Inc.		9,013		302,927
Machinery (2.7%)
Actuant Corp., Class A		3,412		104,475
Altra Holdings, Inc.		3,745		101,939
American Railcar Industries, Inc.		16,590		775,417
Blount International, Inc.*		12,106		161,978
Cascade Corp.		118		7,668
Chart Industries, Inc.*		7,442		595,434
CIRCOR International, Inc.		336		14,280
CLARCOR, Inc.		12,552		657,474
Commercial Vehicle Group, Inc.*		6,207		48,415
Dynamic Materials Corp.		1,274		22,168
EnPro Industries, Inc.*		2,737		140,052
ESCO Technologies, Inc.		2,168		88,584
ExOne Co.*		23,596		790,466
Federal Signal Corp.*		1,296		10,549
Flow International Corp.*		2,668		10,432
Gorman-Rupp Co.		3,869		116,263
Graham Corp.		2,424		59,970
John Bean Technologies Corp.		7,333		152,160
Lindsay Corp.		3,164		279,002
Meritor, Inc.*		5,829		27,571
Met-Pro Corp.		237		2,448
Middleby Corp.*		4,662		709,323
Mueller Industries, Inc.		692		36,877
Mueller Water Products, Inc., Class A		25,930		153,765

See Notes to Portfolio of Investments.

159

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MULTIMANAGER SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Omega Flex, Inc.		734	$	12,617
Proto Labs, Inc.*		24,945		1,224,800
RBC Bearings, Inc.*		17,806		900,271
Rexnord Corp.*		77,089		1,636,599
Sauer-Danfoss, Inc.		2,867		167,519
Standex International Corp.		732		40,421
Sun Hydraulics Corp.		5,117		166,354
Tennant Co.		4,687		227,601
Titan International, Inc.		213,765		4,506,167
Trimas Corp.*		7,368		239,239
Wabash National Corp.*		17,151		174,254
Woodward, Inc.		17,162		682,361
				15,044,913
Marine (0.0%)
Rand Logistics, Inc.*		404		2,475
Professional Services (3.0%)
Acacia Research Corp.*		12,367		373,112
Advisory Board Co.*		123,055		6,462,849
Barrett Business Services, Inc.		1,767		93,050
CDI Corp.		604		10,389
Corporate Executive Board Co.		120,646		7,016,771
Exponent, Inc.		3,329		179,566
Franklin Covey Co.*		2,438		35,424
GP Strategies Corp.*		3,390		80,885
Huron Consulting Group, Inc.*		5,685		229,219
Insperity, Inc.		5,712		162,049
Kforce, Inc.		6,166		100,937
Mistras Group, Inc.*		3,950		95,630
Odyssey Marine Exploration, Inc.*		18,526		60,395
On Assignment, Inc.*		10,696		270,716
RPX Corp.*		4,920		69,421
TrueBlue, Inc.*		7,306		154,449
WageWorks, Inc.*		46,785		1,171,029
				16,565,891
Road & Rail (0.6%)
Avis Budget Group, Inc.*		26,426		735,436
Celadon Group, Inc.		5,066		105,677
Genesee & Wyoming, Inc., Class A*		11,036		1,027,561
Heartland Express, Inc.		9,425		125,730
Knight Transportation, Inc.		14,447		232,597
Old Dominion Freight Line, Inc.*		17,733		677,401
Quality Distribution, Inc.*		2,016		16,955
Roadrunner Transportation Systems, Inc.*		1,690		38,870
Saia, Inc.*		743		26,874
Swift Transportation Co.*		19,647		278,594
Werner Enterprises, Inc.		9,488		229,040
				3,494,735
Trading Companies & Distributors (2.7%)
Aceto Corp.		182,808		2,023,685
Applied Industrial Technologies, Inc.		9,688		435,960
Beacon Roofing Supply, Inc.*		11,707		452,593
BlueLinx Holdings, Inc.*		1,814		5,170
CAI International, Inc.*		1,300		37,466
DXP Enterprises, Inc.*		15,217		1,136,710
Edgen Group, Inc.*		944		6,825
H&E Equipment Services, Inc.		39,853		813,001
Houston Wire & Cable Co.		1,658		21,471
Kaman Corp.		6,534		231,761
Rush Enterprises, Inc., Class A*		28,302		682,644
SeaCube Container Leasing Ltd.		365		8,380
TAL International Group, Inc.		3,721		168,599
Textainer Group Holdings Ltd.		3,290		130,120
Titan Machinery, Inc.*		187,479		5,202,541
Watsco, Inc.		7,315		615,777
WESCO International, Inc.*		38,500		2,795,485
				14,768,188
Transportation Infrastructure (0.1%)
LLX Logistica S.A.*		629,641		654,334
Wesco Aircraft Holdings, Inc.*		1,126		16,575
				670,909
Total Industrials				83,632,025
Information Technology (17.6%)
Communications Equipment (0.8%)
ADTRAN, Inc.		15,834		311,138
Ambient Corp.*		674		1,651
Anaren, Inc.*		457		8,861
Arris Group, Inc.*		3,746		64,319
Aruba Networks, Inc.*		27,845		688,885
Aware, Inc.		2,526		11,695
CalAmp Corp.*		8,591		94,243
Calix, Inc.*		3,454		28,150
Ciena Corp.*		18,646		298,522
Extreme Networks, Inc.*		23,810		80,240
Globecomm Systems, Inc.*		4,502		54,069
Infinera Corp.*		127,169		890,184
InterDigital, Inc.		10,228		489,205
Ixia*		10,470		226,571
KVH Industries, Inc.*		3,161		42,895
Loral Space & Communications, Inc.		2,575		159,341
NETGEAR, Inc.*		4,196		140,608
Numerex Corp., Class A*		2,820		36,068
Parkervision, Inc.*		20,199		74,130
Plantronics, Inc.		3,611		159,570
Procera Networks, Inc.*		4,917		58,463
Ruckus Wireless, Inc.*		887		18,627
ShoreTel, Inc.*		10,761		39,062
Sonus Networks, Inc.*		4,378		11,339
Telular Corp.		2,514		25,291
Tessco Technologies, Inc.		693		14,997
Ubiquiti Networks, Inc.		2,299		31,542
ViaSat, Inc.*		9,349		452,866
				4,512,532
Computers & Peripherals (0.4%)
3D Systems Corp.*		40,577		1,308,201
Cray, Inc.*		9,761		226,553
Datalink Corp.*		3,867		46,713
Electronics for Imaging, Inc.*		895		22,697
Immersion Corp.*		6,757		79,327
Intermec, Inc.*		1,944		19,110
QLogic Corp.*		5,295		61,422
Quantum Corp.*		3,585		4,589
Silicon Graphics International Corp.*		469		6,449
Super Micro Computer, Inc.*		6,609		74,616
Synaptics, Inc.*		8,356		340,006
				2,189,683
Electronic Equipment, Instruments & Components (0.8%)
Anixter International, Inc.		4,274		298,838
Audience, Inc.*		260		3,965
Badger Meter, Inc.		3,610		193,207
Cognex Corp.		10,696		450,836
Coherent, Inc.		1,750		99,295
Daktronics, Inc.		2,295		24,098
DTS, Inc.*		4,549		75,650
Echelon Corp.*		5,220		12,737
Electro Rent Corp.		499		9,251

See Notes to Portfolio of Investments.

160

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MULTIMANAGER SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
FARO Technologies, Inc.*		13,765	$	597,263
FEI Co.		8,910		575,141
GSI Group, Inc.*		399		3,403
InvenSense, Inc.*		9,218		98,448
Key Tronic Corp.*		463		5,306
Littelfuse, Inc.		4,887		331,583
Maxwell Technologies, Inc.*		7,484		40,339
Measurement Specialties, Inc.*		3,383		134,542
Mesa Laboratories, Inc.		652		34,549
MTS Systems Corp.		3,988		231,902
Multi-Fineline Electronix, Inc.*		432		6,666
Neonode, Inc.*		5,693		32,849
OSI Systems, Inc.*		4,944		307,962
Plexus Corp.*		3,876		94,226
RealD, Inc.*		8,780		114,140
Rogers Corp.*		1,741		82,906
Universal Display Corp.*		9,943		292,225
Zygo Corp.*		856		12,677
				4,164,004
Internet Software & Services (6.2%)
Active Network, Inc.*		9,853		41,284
Angie’s List, Inc.*		180,745		3,571,521
Bankrate, Inc.*		10,266		122,576
Bazaarvoice, Inc.*		2,494		18,256
Blucora, Inc.*		1,565		24,226
Brightcove, Inc.*		1,420		8,818
Carbonite, Inc.*		2,849		31,197
comScore, Inc.*		8,943		150,064
Constant Contact, Inc.*		7,715		100,141
Cornerstone OnDemand, Inc.*		25,680		875,688
CoStar Group, Inc.*		56,195		6,151,104
Dealertrack Technologies, Inc.*		9,426		276,936
Demand Media, Inc.*		5,646		48,725
Demandware, Inc.*		8,728		221,255
Dice Holdings, Inc.*		10,406		105,413
E2open, Inc.*		53,761		1,071,994
Envestnet, Inc.*		5,247		91,875
ExactTarget, Inc.*		2,468		57,430
Internap Network Services Corp.*		6,840		63,954
Ipass, Inc.*		12,137		24,031
j2 Global, Inc.		9,537		373,946
Liquidity Services, Inc.*		5,867		174,895
LivePerson, Inc.*		13,678		185,747
LogMeIn, Inc.*		5,597		107,574
Marin Software, Inc.*		33,200		545,476
Market Leader, Inc.*		4,700		42,112
MeetMe, Inc.*		314		716
MercadoLibre, Inc.		27,283		2,634,446
Millennial Media, Inc.*		2,733		17,355
Move, Inc.*		9,748		116,489
NIC, Inc.		60,701		1,163,031
OpenTable, Inc.*		38,086		2,398,656
Perficient, Inc.*		6,222		72,549
Responsys, Inc.*		9,040		80,004
Saba Software, Inc.*		7,361		58,520
SciQuest, Inc.*		4,539		109,118
Sohu.com, Inc.*		17,200		853,292
Spark Networks, Inc.*		2,868		20,191
SPS Commerce, Inc.*		3,000		128,010
Stamps.com, Inc.*		3,322		82,950
support.com, Inc.*		7,892		32,989
Synacor, Inc.*		1,619		4,841
Travelzoo, Inc.*		1,810		38,680
Trulia, Inc.*		33,610		1,054,682
Unwired Planet, Inc.*		14,857		32,983
ValueClick, Inc.*		11,204		331,078
VistaPrint N.V.*		8,498		328,533
Vocus, Inc.*		5,237		74,104
Web.com Group, Inc.*		299,001		5,106,936
Workday, Inc.(b)*†		14,106		738,950
XO Group, Inc.*		6,621		66,210
Xoom Corp.*		131,490		3,003,232
Yelp, Inc.*		29,828		707,222
Youku Tudou, Inc. (ADR)*		60,205		1,009,638
Zix Corp.*		15,506		55,511
				34,807,154
IT Services (1.0%)
CACI International, Inc., Class A*		409		23,669
Cardtronics, Inc.*		10,975		301,374
Cass Information Systems, Inc.		2,539		106,740
Computer Task Group, Inc.		2,956		63,229
CSG Systems International, Inc.*		4,950		104,891
EPAM Systems, Inc.*		50,844		1,181,105
ExlService Holdings, Inc.*		5,802		190,770
Forrester Research, Inc.		3,572		113,054
Global Cash Access Holdings, Inc.*		16,654		117,411
Hackett Group, Inc.		6,190		28,288
Heartland Payment Systems, Inc.		9,640		317,831
Higher One Holdings, Inc.*		6,591		58,594
iGATE Corp.*		8,133		152,982
Innodata, Inc.*		5,580		19,251
Lionbridge Technologies, Inc.*		14,336		55,480
Mattersight Corp.*		2,404		10,313
MAXIMUS, Inc.		8,465		676,945
MoneyGram International, Inc.*		1,569		28,399
PRGX Global, Inc.*		5,339		37,106
Sapient Corp.*		30,633		373,415
ServiceSource International, Inc.*		12,567		88,849
Syntel, Inc.		3,840		259,277
Unisys Corp.*		5,662		128,811
Virtusa Corp.*		4,705		111,791
WEX, Inc.*		9,679		759,801
				5,309,376
Semiconductors & Semiconductor Equipment (3.2%)
Ambarella, Inc.*		338		5,293
ATMI, Inc.*		499		11,193
Cabot Microelectronics Corp.*		5,816		202,106
Cavium, Inc.*		12,452		483,262
CEVA, Inc.*		4,451		69,436
Cirrus Logic, Inc.*		16,027		364,614
Cymer, Inc.*		2,370		227,757
Exar Corp.*		1,116		11,718
First Solar, Inc.*		101,574		2,738,435
GT Advanced Technologies, Inc.*		25,444		83,711
Hittite Microwave Corp.*		7,861		476,062
Inphi Corp.*		2,416		25,247
Intermolecular, Inc.*		64,367		656,543
MA-COM Technology Solutions Holdings, Inc.*		258		4,146
Magnachip Semiconductor Corp.*		232,204		4,019,451
MaxLinear, Inc., Class A*		1,080		6,696
MEMC Electronic Materials, Inc.*		128,922		567,257
Micrel, Inc.		12,200		128,222
Microsemi Corp.*		22,234		515,162
Mindspeed Technologies, Inc.*		621,700		2,070,261
Monolithic Power Systems, Inc.		23,466		571,866
NVE Corp.*		1,116		62,965
PDF Solutions, Inc.*		6,130		98,203
Peregrine Semiconductor Corp.*		339		3,312

See Notes to Portfolio of Investments.

161

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP GROWTH PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
PLX Technology, Inc.*		10,539	$	48,058
Power Integrations, Inc.		7,063		306,605
QuickLogic Corp.*		9,968		24,521
Rambus, Inc.*		2,079		11,663
RF Micro Devices, Inc.*		8,693		46,247
Semtech Corp.*		16,366		579,193
Silicon Image, Inc.*		15,758		76,584
SunPower Corp.*		81,410		939,471
Tessera Technologies, Inc.		86,837		1,628,194
Ultratech, Inc.*		6,529		258,091
Veeco Instruments, Inc.*		2,537		97,243
Volterra Semiconductor Corp.*		6,426		91,249
				17,510,037
Software (5.2%)
ACI Worldwide, Inc.*		9,956		486,450
Actuate Corp.*		11,712		70,272
Advent Software, Inc.*		7,856		219,732
American Software, Inc., Class A		5,836		48,556
Aspen Technology, Inc.*		22,040		711,672
AVG Technologies N.V.*		1,938		26,977
Blackbaud, Inc.		11,236		332,923
Bottomline Technologies (de), Inc.*		2,574		73,385
BroadSoft, Inc.*		6,846		181,214
Callidus Software, Inc.*		8,819		40,303
CommVault Systems, Inc.*		11,140		913,257
Comverse, Inc.*		5,549		155,594
Digimarc Corp.		1,809		39,744
Ebix, Inc.		5,380		87,264
Ellie Mae, Inc.*		6,265		150,673
Envivio, Inc.*		539		916
EPIQ Systems, Inc.		629		8,825
Exa Corp.*		930		8,854
Fair Isaac Corp.		8,537		390,056
FalconStor Software, Inc.*		7,688		20,604
FleetMatics Group plc*		1,500		36,375
Glu Mobile, Inc.*		13,068		38,943
Guidance Software, Inc.*		3,641		39,505
Guidewire Software, Inc.*		5,023		193,084
Imperva, Inc.*		30,750		1,183,874
Infoblox, Inc.*		35,685		774,365
Interactive Intelligence Group, Inc.*		3,648		161,789
Jive Software, Inc.*		46,946		713,579
Manhattan Associates, Inc.*		5,027		373,456
Mentor Graphics Corp.		12,471		225,102
MicroStrategy, Inc., Class A*		2,116		213,885
Monotype Imaging Holdings, Inc.		9,098		216,078
NetScout Systems, Inc.*		9,084		223,194
NetSuite, Inc.*		69,459		5,560,887
Pegasystems, Inc.		4,362		122,485
Pervasive Software, Inc.*		475		4,356
Proofpoint, Inc.*		71,704		1,208,928
PROS Holdings, Inc.*		35,451		963,204
PTC, Inc.*		29,764		758,684
QAD, Inc., Class A		1,224		15,716
QAD, Inc., Class B		206		2,385
QLIK Technologies, Inc.*		21,239		548,603
Qualys, Inc.*		1,329		16,400
RealPage, Inc.*		8,891		184,133
Rosetta Stone, Inc.*		1,345		20,686
Silver Spring Networks, Inc.*		25,990		450,407
Solera Holdings, Inc.		71,824		4,189,493
Sourcefire, Inc.*		7,382		437,236
SS&C Technologies Holdings, Inc.*		2,365		70,903
Synchronoss Technologies, Inc.*		6,858		212,804
Take-Two Interactive Software, Inc.*		19,440		313,956
Tangoe, Inc.*		7,558		93,644
TiVo, Inc.*		15,491		191,933
Tyler Technologies, Inc.*		7,529		461,227
Ultimate Software Group, Inc.*		6,649		692,560
VASCO Data Security International, Inc.*		3,259		27,506
Verint Systems, Inc.*		87,673		3,204,447
VirnetX Holding Corp.*		10,477		200,844
Websense, Inc.*		9,420		141,300
Zynga, Inc., Class A*		169,930		570,965
				29,026,192
Total Information Technology				97,518,978
Materials (3.5%)
Chemicals (2.2%)
ADA-ES, Inc.*		2,275		60,447
American Vanguard Corp.		16,841		514,324
Arabian American Development Co.*		5,034		42,437
Axiall Corp.		14,215		883,604
Balchem Corp.		7,267		319,312
Calgon Carbon Corp.*		11,257		203,752
Chemtura Corp.*		17,053		368,515
Flotek Industries, Inc.*		104,212		1,703,866
GSE Holding, Inc.*		2,031		16,776
H.B. Fuller Co.		12,411		485,022
Hawkins, Inc.		2,318		92,604
Innophos Holdings, Inc.		5,407		295,006
Innospec, Inc.		736		32,590
Intrepid Potash, Inc.		48,528		910,385
KMG Chemicals, Inc.		1,975		38,394
Koppers Holdings, Inc.		5,136		225,881
Landec Corp.*		1,577		22,819
LSB Industries, Inc.*		2,744		95,436
Olin Corp.		13,558		341,933
OMNOVA Solutions, Inc.*		11,688		89,647
PolyOne Corp.		17,512		427,468
Quaker Chemical Corp.		928		54,771
Rockwood Holdings, Inc.		55,545		3,634,866
Stepan Co.		4,134		260,855
Tronox Ltd., Class A		28,106		556,780
Zep, Inc.		2,370		35,574
				11,713,064
Construction Materials (0.7%)
Eagle Materials, Inc.		56,679		3,776,522
Headwaters, Inc.*		18,221		198,609
United States Lime & Minerals, Inc.*		407		21,648
				3,996,779
Containers & Packaging (0.0%)
AEP Industries, Inc.*		1,024		73,533
Berry Plastics Group, Inc.*		2,907		55,378
Myers Industries, Inc.		8,488		118,493
				247,404
Metals & Mining (0.4%)
AK Steel Holding Corp.		5,394		17,854
AMCOL International Corp.		6,004		181,261
Coeur d’Alene Mines Corp.*		9,168		172,908
General Moly, Inc.*		2,689		5,943
Globe Specialty Metals, Inc.		1,124		15,646
Gold Resource Corp.		7,561		98,520
Handy & Harman Ltd.*		1,166		17,945
Haynes International, Inc.		2,570		142,121
Materion Corp.		427		12,170
Metals USA Holdings Corp.		738		15,240
Midway Gold Corp.*		31,359		38,258

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Noranda Aluminum Holding Corp.		8,405	$	37,738
Paramount Gold and Silver Corp.*		33,087		73,784
SunCoke Energy, Inc.*		12,511		204,304
U.S. Antimony Corp.*		13,549		23,440
U.S. Silica Holdings, Inc.		56,670		1,336,278
				2,393,410
Paper & Forest Products (0.2%)
Boise Cascade Co.*		1,280		43,443
Buckeye Technologies, Inc.		5,682		170,176
Clearwater Paper Corp.*		4,633		244,112
Deltic Timber Corp.		2,712		186,369
Neenah Paper, Inc.		2,418		74,378
P.H. Glatfelter Co.		1,828		42,739
Schweitzer-Mauduit International, Inc.		5,731		221,961
Wausau Paper Corp.		10,600		114,268
				1,097,446
Total Materials				19,448,103
Telecommunication Services (0.2%)
Diversified Telecommunication Services (0.2%)
8x8, Inc.*		17,952		122,971
Atlantic Tele-Network, Inc.		2,280		110,603
Cbeyond, Inc.*		538		3,997
Cincinnati Bell, Inc.*		18,028		58,771
Cogent Communications Group, Inc.		11,695		308,748
Consolidated Communications Holdings, Inc.		6,516		114,356
Fairpoint Communications, Inc.*		4,521		33,772
General Communication, Inc., Class A*		9,182		84,199
HickoryTech Corp.		3,478		35,302
IDT Corp., Class B		3,624		43,705
inContact, Inc.*		8,206		66,387
Iridium Communications, Inc.*		1,765		10,625
Lumos Networks Corp.		3,803		51,264
magicJack VocalTec Ltd.*		2,414		33,796
ORBCOMM, Inc.*		4,451		23,190
Premiere Global Services, Inc.*		2,911		31,992
Primus Telecommunications Group, Inc.		3,071		33,935
Towerstream Corp.*		13,432		29,953
				1,197,566
Wireless Telecommunication Services (0.0%)
Boingo Wireless, Inc.*		3,984		21,992
Leap Wireless International, Inc.*		3,245		19,113
NTELOS Holdings Corp.		3,803		48,716
				89,821
Total Telecommunication Services				1,287,387
Utilities (0.8%)
Electric Utilities (0.8%)
Brookfield Infrastructure Partners LP		100,717		3,833,289
Otter Tail Corp.		616		19,182
				3,852,471
Gas Utilities (0.0%)
Piedmont Natural Gas Co., Inc.		1,549		50,931
South Jersey Industries, Inc.		1,696		94,281
				145,212
Independent Power Producers & Energy Traders (0.0%)
American DG Energy, Inc.*		5,453		11,451
Atlantic Power Corp.		2,471		12,182
Ormat Technologies, Inc.		1,270		26,226
				49,859
Water Utilities (0.0%)
American States Water Co.		519		29,879
Cadiz, Inc.*		3,051		20,625
California Water Service Group		5,323		105,927
Connecticut Water Service, Inc.		1,418		41,448
SJW Corp.		1,111		29,442
York Water Co.		2,441		45,891
				273,212
Total Utilities				4,320,754
Total Common Stocks (80.7%) (Cost $345,915,663)				447,414,444
PREFERRED STOCK:
Consumer Discretionary (0.0%)
Auto Components (0.0%)
Better Place, Inc. 0.000%(b)†		139,552		—
Total Preferred Stock (0.0%) (Cost $633,566)				—

	Number of Warrants		Value (Note 1)
WARRANTS:
Energy (0.0%)
Oil, Gas & Consumable Fuels (0.0%)
Magnum Hunter Resources Corp.,expiring 10/14/13(b)* (Cost $—)		105,185		13,674
Total Investments (80.7%) (Cost $346,549,229)				447,428,118
Other Assets Less Liabilities (19.3%)				107,248,787
Net Assets (100%)			$	554,676,905

* Non-income producing.

† Securities (totaling $1,582,994 or 0.3% of net assets) at fair value by management.

(b) Illiquid Security.

Glossary:

ADR — American Depositary Receipt

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

Purchase	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Russell 2000 Mini Index		1,060		June-13	$	97,842,786	$	100,583,400	$	2,740,614

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) (a)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	77,017,997	$	1,260,221	$	844,044	$	79,122,262
Consumer Staples		18,024,115		—		—		18,024,115
Energy		23,606,181		—		—		23,606,181
Financials		25,575,672		21,391		—		25,597,063
Health Care		94,857,576		—		—		94,857,576
Industrials		82,067,360		1,564,665		—		83,632,025
Information Technology		96,780,028		—		738,950		97,518,978
Materials		19,448,103		—		—		19,448,103
Telecommunication Services		1,287,387		—		—		1,287,387
Utilities		4,320,754		—		—		4,320,754
Futures		2,740,614		—		—		2,740,614
Preferred Stocks
Consumer Discretionary		—		—		—		—
Warrants
Energy		—		13,674		—		13,674
Total Assets	$	445,725,787	$	2,859,951	$	1,582,994	$	450,168,732
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	445,725,787	$	2,859,951	$	1,582,994	$	450,168,732

(a) A security with a market value of $21,391 transferred from Level 1 to Level 2 since the beginning of the period due to inactive trading.

See Notes to Portfolio of Investments.

164

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

	Investments in Common Stocks- Consumer Discretionary			Investments in Common Stocks- Information Technology		Investments in Preferred Stocks- Consumer Discretionary
Balance as of 12/31/12	$	950,141		$	653,460	$	35,586
Total gains or losses (realized/unrealized) included in earning		(106,097	)		85,490		(35,586	)
Purchases		—			—		—
Sales		—			—		—
Issuances		—			—		—
Settlements		—			—		—
Transfers into Level 3		—			—		—
Transfers out of Level 3		—			—		—
Balance as of 3/31/13	$	844,044		$	738,950	$	—
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	(106,097	)	$	85,490	$	(35,586	)

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	75,177,148
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	87,831,691

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	127,253,786
Aggregate gross unrealized depreciation		(27,747,489	)
Net unrealized appreciation	$	99,506,297
Federal income tax cost of investments	$	347,921,821

See Notes to Portfolio of Investments.

165

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PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Consumer Discretionary (17.0%)
Auto Components (3.0%)
American Axle & Manufacturing Holdings, Inc.*		20,188	$	275,566
Autoliv, Inc.		27,136		1,876,183
Cooper Tire & Rubber Co.		2,544		65,279
Dana Holding Corp.		39,998		713,164
Dorman Products, Inc.		24,000		893,040
Drew Industries, Inc.		22,425		814,252
Exide Technologies, Inc.*		23,554		63,596
Federal-Mogul Corp.*		5,387		32,484
Fuel Systems Solutions, Inc.*		3,427		56,443
Gentex Corp.		67,500		1,350,675
Gentherm, Inc.*		305,000		4,995,900
Icahn Enterprises LP		179,761		9,798,772
Modine Manufacturing Co.*		13,976		127,182
Shiloh Industries, Inc.		1,595		17,178
Spartan Motors, Inc.		10,326		54,831
Standard Motor Products, Inc.		6,059		167,955
Stoneridge, Inc.*		8,258		63,009
Superior Industries International, Inc.		6,883		128,574
				21,494,083
Automobiles (0.5%)
Thor Industries, Inc.		66,100		2,431,819
Winnebago Industries, Inc.*		41,642		859,491
				3,291,310
Distributors (0.0%)
Core-Mark Holding Co., Inc.		2,877		147,619
VOXX International Corp.*		5,259		56,324
Weyco Group, Inc.		1,722		42,206
				246,149
Diversified Consumer Services (1.0%)
Ascent Capital Group, Inc., Class A*		40,238		2,995,317
Bright Horizons Family Solutions, Inc.*		1,243		42,001
Career Education Corp.*		15,141		35,884
Carriage Services, Inc.		4,861		103,296
Corinthian Colleges, Inc.*		24,062		50,530
Education Management Corp.*		7,377		27,073
Hillenbrand, Inc.		42,000		1,061,760
LifeLock, Inc.*		292		2,812
Lincoln Educational Services Corp.		7,323		42,913
Mac-Gray Corp.		2,861		36,621
Matthews International Corp., Class A		4,467		155,854
National American University Holdings, Inc.		1,491		5,815
Regis Corp.		99,815		1,815,635
Sotheby’s, Inc.		13,263		496,169
Stewart Enterprises, Inc., Class A		22,762		211,459
Universal Technical Institute, Inc.		2,278		28,771
				7,111,910
Hotels, Restaurants & Leisure (2.0%)
Ameristar Casinos, Inc.		1,211		31,765
Apollo Global Management LLC, Class A		36,000		779,040
Biglari Holdings, Inc.*		322		120,167
Bloomin’ Brands, Inc.*		1,397		24,964
Bluegreen Corp.*		4,552		44,792
Bob Evans Farms, Inc.		7,643		325,745
Boyd Gaming Corp.*		15,627		129,235
Bravo Brio Restaurant Group, Inc.*		265,000		4,194,950
Caesars Entertainment Corp.*		1,305		20,697
Carrols Restaurant Group, Inc.*		1,483		7,697
Churchill Downs, Inc.		2,605		182,454
Chuy’s Holdings, Inc.*		550		17,919
Del Frisco’s Restaurant Group, Inc.*		300		4,980
Denny’s Corp.*		6,132		35,382
Einstein Noah Restaurant Group, Inc.		211		3,129
Fiesta Restaurant Group, Inc.*		430		11,425
Frisch’s Restaurants, Inc.		913		16,379
International Speedway Corp., Class A		8,319		271,865
Isle of Capri Casinos, Inc.*		6,415		40,350
Jack in the Box, Inc.*		2,556		88,412
Krispy Kreme Doughnuts, Inc.*		18,093		261,263
Life Time Fitness, Inc.*		960		41,069
Luby’s, Inc.*		6,385		47,760
Marcus Corp.		5,453		68,108
Marriott Vacations Worldwide Corp.*		8,105		347,786
Monarch Casino & Resort, Inc.*		2,548		24,792
Morgans Hotel Group Co.*		3,640		21,549
Orient-Express Hotels Ltd., Class A*		29,114		287,064
Pinnacle Entertainment, Inc.*		16,574		242,312
Red Lion Hotels Corp.*		4,104		29,179
Red Robin Gourmet Burgers, Inc.*		2,469		112,586
Ruby Tuesday, Inc.*		19,220		141,651
Scientific Games Corp., Class A*		13,427		117,486
Sonic Corp.*		3,165		40,765
Speedway Motorsports, Inc.		3,484		62,677
Vail Resorts, Inc.		7,064		440,229
Wendy’s Co.		976,200		5,535,054
WMS Industries, Inc.*		16,679		420,478
				14,593,155
Household Durables (3.2%)
American Greetings Corp., Class A		9,037		145,496
Bassett Furniture Industries, Inc.		3,435		54,823
Beazer Homes USA, Inc.*		7,510		118,958
Brookfield Residential Properties, Inc.*		234,600		5,710,164
Cavco Industries, Inc.*		228		10,846
CSS Industries, Inc.		2,865		74,404
Ethan Allen Interiors, Inc.		1,036		34,105
Flexsteel Industries, Inc.		1,349		33,374
Harman International Industries, Inc.		16,500		736,395
Helen of Troy Ltd.*		9,557		366,606
Hooker Furniture Corp.		40,268		641,872
Hovnanian Enterprises, Inc., Class A*		31,702		182,920
Jarden Corp.*		227,850		9,763,372
KB Home		23,769		517,451
La-Z-Boy, Inc.		98,995		1,868,036
Lifetime Brands, Inc.		2,930		33,431
M.D.C. Holdings, Inc.		28,287		1,036,719
M/I Homes, Inc.*		46,377		1,133,918
Meritage Homes Corp.*		7,031		329,473
NACCO Industries, Inc., Class A		1,672		89,218
Ryland Group, Inc.		5,921		246,432
Standard Pacific Corp.*		35,159		303,774
TRI Pointe Homes, Inc.*		4,126		83,139
Universal Electronics, Inc.*		4,500		104,625
				23,619,551
Internet & Catalog Retail (0.4%)
1-800-FLOWERS.COM, Inc., Class A*		7,358		36,569
Expedia, Inc.		12,400		744,124
Kayak Software Corp.*		285		11,389
Liberty Ventures*		21,800		1,647,644
Shutterfly, Inc.*		8,125		358,881
				2,798,607

See Notes to Portfolio of Investments.

166

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Leisure Equipment & Products (0.2%)
Black Diamond, Inc.*		6,212	$	56,591
Brunswick Corp.		39,100		1,338,002
Callaway Golf Co.		19,360		128,163
JAKKS Pacific, Inc.		6,258		65,647
Johnson Outdoors, Inc., Class A*		1,738		41,434
Marine Products Corp.		1,567		11,533
Steinway Musical Instruments, Inc.*		2,016		48,424
				1,689,794
Media (1.9%)
Beasley Broadcasting Group, Inc., Class A		1,277		7,534
Belo Corp., Class A		18,100		177,923
Carmike Cinemas, Inc.*		3,641		65,975
Central European Media Enterprises Ltd., Class A*		10,964		46,268
Crown Media Holdings, Inc., Class A*		8,309		17,034
Cumulus Media, Inc., Class A*		18,385		61,958
Daily Journal Corp.*		275		30,525
Digital Generation, Inc.*		8,468		54,449
DreamWorks Animation SKG, Inc., Class A*		284,800		5,399,808
Entercom Communications Corp., Class A*		7,219		53,709
Entravision Communications Corp., Class A		15,300		48,807
EW Scripps Co., Class A*		8,948		107,644
Fisher Communications, Inc.		2,691		105,595
Global Sources Ltd.*		4,965		37,535
Harte-Hanks, Inc.		13,544		105,508
Journal Communications, Inc., Class A*		12,009		80,701
LIN TV Corp., Class A*		9,266		101,833
Live Nation Entertainment, Inc.*		327,719		4,053,884
Martha Stewart Living Omnimedia, Inc., Class A*		7,504		19,811
McClatchy Co., Class A*		17,237		49,987
MDC Partners, Inc., Class A		4,984		80,591
Meredith Corp.		11,011		421,281
National CineMedia, Inc.		11,239		177,351
New York Times Co., Class A*		41,108		402,858
Nexstar Broadcasting Group, Inc., Class A		2,615		47,070
Outdoor Channel Holdings, Inc.		3,170		28,276
Promotora de Informaciones S.A. (Prisa) (ADR)*		35,017		38,519
Promotora de Informaciones S.A. (Prisa) (ADR), Class B*		200,100		246,123
Reading International, Inc., Class A*		4,748		26,589
Rentrak Corp.*		1,187		26,090
Saga Communications, Inc., Class A		1,415		65,458
Salem Communications Corp., Class A		3,274		25,963
Scholastic Corp.		7,787		207,524
Shutterstock, Inc.*		1,520		68,370
Sinclair Broadcast Group, Inc., Class A		13,928		281,903
Starz - Liberty Capital*		36,900		817,335
Valassis Communications, Inc.		4,705		140,538
World Wrestling Entertainment, Inc., Class A		345		3,043
				13,731,370
Multiline Retail (0.1%)
Bon-Ton Stores, Inc.		3,850		50,050
Fred’s, Inc., Class A		11,139		152,381
Saks, Inc.*		31,383		359,963
Tuesday Morning Corp.*		12,888		100,011
				662,405
Specialty Retail (4.0%)
Asbury Automotive Group, Inc.*		950		34,855
Barnes & Noble, Inc.*		7,804		128,376
bebe stores, Inc.		9,637		40,186
Big 5 Sporting Goods Corp.		5,166		80,641
Brown Shoe Co., Inc.		89,899		1,438,384
Cabela’s, Inc.*		1,343		81,628
Cato Corp., Class A		35,200		849,728
Children’s Place Retail Stores, Inc.*		4,561		204,424
Citi Trends, Inc.*		4,092		41,861
Conn’s, Inc.*		184,589		6,626,745
Destination Maternity Corp.		2,321		54,311
Destination XL Group, Inc.*		12,512		63,686
Finish Line, Inc., Class A		9,601		188,084
Five Below, Inc.*		1,639		62,102
GameStop Corp., Class A		47,000		1,314,590
Group 1 Automotive, Inc.		44,403		2,667,288
Haverty Furniture Cos., Inc.		5,818		119,618
hhgregg, Inc.*		4,051		44,764
Jos. A. Bank Clothiers, Inc.*		20,585		821,341
Kirkland’s, Inc.*		4,139		47,433
Lithia Motors, Inc., Class A		6,557		311,326
MarineMax, Inc.*		6,156		83,660
Men’s Wearhouse, Inc.		62,140		2,076,719
New York & Co., Inc.*		3,242		13,260
Office Depot, Inc.*		85,769		337,072
OfficeMax, Inc.		26,306		305,413
Orchard Supply Hardware Stores Corp., Class A*		586		2,321
Penske Automotive Group, Inc.		54,273		1,810,547
PEP Boys-Manny, Moe & Jack*		52,729		621,675
Perfumania Holdings, Inc.*		1,568		9,032
Pier 1 Imports, Inc.		35,000		805,000
RadioShack Corp.		30,399		102,141
Rent-A-Center, Inc.		17,891		660,894
Restoration Hardware Holdings, Inc.*		1,287		45,045
Shoe Carnival, Inc.		4,250		86,870
Sonic Automotive, Inc., Class A		252,835		5,602,824
Stage Stores, Inc.		9,339		241,693
Stein Mart, Inc.		8,214		68,833
Systemax, Inc.		3,186		31,541
West Marine, Inc.*		54,727		625,530
Wet Seal, Inc., Class A*		26,862		81,123
				28,832,564
Textiles, Apparel & Luxury Goods (0.7%)
Cherokee, Inc.		138		1,891
Columbia Sportswear Co.		3,694		213,809
Culp, Inc.		2,683		42,687
Delta Apparel, Inc.*		1,950		32,116
Fifth & Pacific Cos., Inc.*		34,086		643,544
G-III Apparel Group Ltd.*		4,401		176,524
Iconix Brand Group, Inc.*		19,550		505,758
Jones Group, Inc.		24,692		314,082
K-Swiss, Inc., Class A*		8,198		38,859
Maidenform Brands, Inc.*		43,549		763,414
Movado Group, Inc.		56,810		1,904,271
Perry Ellis International, Inc.		3,598		65,448
Quiksilver, Inc.*		39,761		241,349
R.G. Barry Corp.		205		2,745
Skechers U.S.A., Inc., Class A*		11,435		241,850

See Notes to Portfolio of Investments.

167

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Unifi, Inc.*		4,372	$	83,505
				5,271,852
Total Consumer Discretionary				123,342,750
Consumer Staples (2.0%)
Beverages (0.0%)
Central European Distribution Corp.*		18,971		6,355
Craft Brew Alliance, Inc.*		1,672		12,440
				18,795
Food & Staples Retailing (0.3%)
Andersons, Inc.		5,579		298,588
Arden Group, Inc., Class A		35		3,538
Harris Teeter Supermarkets, Inc.		11,462		489,542
Ingles Markets, Inc., Class A		3,661		78,638
Nash Finch Co.		3,594		70,371
Natural Grocers by Vitamin Cottage, Inc.*		1,198		27,015
Pantry, Inc.*		6,381		79,571
Rite Aid Corp.*		181,613		345,065
Spartan Stores, Inc.		6,466		113,478
SUPERVALU, Inc.		15,485		78,044
Susser Holdings Corp.*		1,988		101,607
Village Super Market, Inc., Class A		2,612		87,998
Weis Markets, Inc.		3,433		139,723
				1,913,178
Food Products (1.0%)
Alico, Inc.		518		23,957
Annie’s, Inc.*		484		18,518
Boulder Brands, Inc.*		17,908		160,814
Cal-Maine Foods, Inc.		628		26,728
Chiquita Brands International, Inc.*		13,607		105,590
Darling International, Inc.*		324,751		5,832,528
Diamond Foods, Inc.*		6,499		109,573
Dole Food Co., Inc.*		10,820		117,938
Farmer Bros Co.*		1,781		26,181
Fresh Del Monte Produce, Inc.		11,526		310,971
Griffin Land & Nurseries, Inc.		762		22,898
John B. Sanfilippo & Son, Inc.		2,491		49,770
Omega Protein Corp.*		5,901		63,436
Pilgrim’s Pride Corp.*		3,721		34,196
Post Holdings, Inc.*		2,362		101,401
Seaboard Corp.		93		260,399
Seneca Foods Corp., Class A*		2,478		81,824
Snyders-Lance, Inc.		1,550		39,153
Tootsie Roll Industries, Inc.		318		9,519
TreeHouse Foods, Inc.*		3,546		231,022
				7,626,416
Household Products (0.0%)
Central Garden & Pet Co., Class A*		9,989		82,110
Harbinger Group, Inc.*		12,566		103,795
Oil-Dri Corp. of America		1,565		42,615
Orchids Paper Products Co.		879		20,507
Spectrum Brands Holdings, Inc.		1,186		67,116
				316,143
Personal Products (0.6%)
Elizabeth Arden, Inc.*		1,113		44,798
Inter Parfums, Inc.		151,386		3,698,360
Nature’s Sunshine Products, Inc.		1,374		20,940
Nutraceutical International Corp.		2,669		46,307
Prestige Brands Holdings, Inc.*		5,197		133,511
Revlon, Inc., Class A*		3,409		76,225
				4,020,141
Tobacco (0.1%)
Alliance One International, Inc.*		25,850		100,557
Universal Corp.		6,996		392,056
Vector Group Ltd.		4,120		66,414
				559,027
Total Consumer Staples				14,453,700
Energy (7.7%)
Energy Equipment & Services (6.4%)
Atwood Oceanics, Inc.*		32,500		1,707,550
Basic Energy Services, Inc.*		9,385		128,293
Bolt Technology Corp.		2,429		42,410
Bristow Group, Inc.		50,915		3,357,335
C&J Energy Services, Inc.*		9,345		214,001
Cal Dive International, Inc.*		28,539		51,370
Dawson Geophysical Co.*		2,371		71,130
Exterran Holdings, Inc.*		19,571		528,417
Forbes Energy Services Ltd.*		3,827		14,083
Gulf Island Fabrication, Inc.		4,291		90,368
Gulfmark Offshore, Inc., Class A		6,311		245,877
Heckmann Corp.*		38,971		167,186
Helix Energy Solutions Group, Inc.*		99,902		2,285,758
Hercules Offshore, Inc.*		47,847		355,025
Hornbeck Offshore Services, Inc.*		145,668		6,767,735
ION Geophysical Corp.*		420,000		2,860,200
Key Energy Services, Inc.*		45,505		367,680
Matrix Service Co.*		296,328		4,415,287
Mitcham Industries, Inc.*		276,450		4,677,534
Natural Gas Services Group, Inc.*		98,698		1,900,923
Newpark Resources, Inc.*		27,118		251,655
North American Energy Partners, Inc.*		720,000		3,268,800
Oil States International, Inc.*		20,800		1,696,656
Parker Drilling Co.*		435,581		1,864,287
PHI, Inc. (Non-Voting)*		3,581		122,506
Pioneer Energy Services Corp.*		14,923		123,115
Rowan Cos., plc, Class A*		50,000		1,768,000
Tesco Corp.*		9,236		123,670
TETRA Technologies, Inc.*		23,380		239,879
Tidewater, Inc.		100,200		5,060,100
Unit Corp.*		27,000		1,229,850
Vantage Drilling Co.*		58,332		102,081
Willbros Group, Inc.*		8,956		87,948
				46,186,709
Oil, Gas & Consumable Fuels (1.3%)
Adams Resources & Energy, Inc.		660		33,660
Alon USA Energy, Inc.		629		11,982
Amyris, Inc.*		9,429		29,041
Arch Coal, Inc.		64,033		347,699
Bill Barrett Corp.*		14,587		295,679
Bonanza Creek Energy, Inc.*		2,640		102,089
BPZ Resources, Inc.*		22,597		51,295
Callon Petroleum Co.*		12,331		45,625
Carrizo Oil & Gas, Inc.*		1,621		41,773
Clayton Williams Energy, Inc.*		1,611		70,449
Cloud Peak Energy, Inc.*		18,486		347,167
Comstock Resources, Inc.*		14,538		236,243
Contango Oil & Gas Co.		280		11,225
Crimson Exploration, Inc.*		6,348		18,155
Crosstex Energy, Inc.		1,146		22,072
CVR Energy, Inc.		1,729		89,251
Delek U.S. Holdings, Inc.		5,306		209,375
Diamondback Energy, Inc.*		2,183		58,592
Emerald Oil, Inc.*		4,501		31,687
Endeavour International Corp.*		859		2,534
Energen Corp.		19,500		1,014,195
Energy XXI Bermuda Ltd.		6,470		176,113

See Notes to Portfolio of Investments.

168

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
EPL Oil & Gas, Inc.*		8,394	$	225,043
Forest Oil Corp.*		35,515		186,809
Frontline Ltd.*		15,008		35,119
GasLog Ltd.		4,592		59,053
Gastar Exploration Ltd.*		18,130		31,909
Gevo, Inc.*		645		1,445
Green Plains Renewable Energy, Inc.*		7,515		85,972
Gulfport Energy Corp.*		15,346		703,307
Halcon Resources Corp.*		4,359		33,957
Hallador Energy Co.		1,794		12,379
Harvest Natural Resources, Inc.*		11,187		39,266
Knightsbridge Tankers Ltd.		7,587		62,213
Magnum Hunter Resources Corp.*		28,763		115,340
Matador Resources Co.*		351		3,110
McMoRan Exploration Co.*		30,689		501,765
Midstates Petroleum Co., Inc.*		3,856		32,969
Miller Energy Resources, Inc.*		9,651		35,805
Nordic American Tankers Ltd.		16,117		186,151
PDC Energy, Inc.*		9,049		448,559
Penn Virginia Corp.		16,429		66,373
PetroQuest Energy, Inc.*		17,108		75,960
Quicksilver Resources, Inc.*		34,609		77,870
Renewable Energy Group, Inc.*		1,538		11,827
Resolute Energy Corp.*		14,414		165,905
REX American Resources Corp.*		1,408		31,145
Rex Energy Corp.*		13,034		214,800
Scorpio Tankers, Inc.*		32,697		291,657
SemGroup Corp., Class A*		12,728		658,292
Ship Finance International Ltd.		15,022		264,988
Stone Energy Corp.*		14,867		323,357
Swift Energy Co.*		12,875		190,679
Synergy Resources Corp.*		11,704		80,289
Teekay Corp.		3,000		107,880
Teekay Tankers Ltd., Class A		19,748		56,282
Triangle Petroleum Corp.*		13,393		88,394
Uranium Energy Corp.*		14,089		30,996
W&T Offshore, Inc.		9,654		137,087
Warren Resources, Inc.*		17,180		55,148
Western Refining, Inc.		7,232		256,085
Westmoreland Coal Co.*		3,094		35,148
WPX Energy, Inc.*		29,200		467,784
ZaZa Energy Corp.*		4,079		7,383
				9,741,401
Total Energy				55,928,110
Financials (23.0%)
Capital Markets (2.5%)
Apollo Investment Corp.		61,843		517,007
Arlington Asset Investment Corp., Class A		4,313		111,319
Artio Global Investors, Inc.		9,549		25,973
BlackRock Kelso Capital Corp.		22,069		220,690
Calamos Asset Management, Inc., Class A		5,505		64,794
Capital Southwest Corp.		891		102,465
CIFC Corp.*		2,057		16,929
Cowen Group, Inc., Class A*		26,016		73,365
Duff & Phelps Corp., Class A		6,893		106,910
Dundee Corp., Class A*		166,200		5,705,646
Evercore Partners, Inc., Class A		7,898		328,557
FBR & Co.*		2,723		51,546
Fidus Investment Corp.		3,843		73,593
Fifth Street Finance Corp.		32,056		353,257
FXCM, Inc., Class A		7,068		96,690
GFI Group, Inc.		20,970		70,040
Gladstone Capital Corp.		6,644		61,125
Gladstone Investment Corp.		7,538		55,103
Golub Capital BDC, Inc.		5,340		88,163
GSV Capital Corp.*		5,657		46,727
Harris & Harris Group, Inc.*		8,818		31,745
Hercules Technology Growth Capital, Inc.		18,360		224,910
HFF, Inc., Class A		1,562		31,131
Horizon Technology Finance Corp.		2,277		33,267
ICG Group, Inc.*		10,477		130,753
INTL FCStone, Inc.*		4,139		72,060
Investment Technology Group, Inc.*		11,600		128,064
JMP Group, Inc.		4,771		32,968
KCAP Financial, Inc.		7,661		82,509
Knight Capital Group, Inc., Class A*		54,775		203,763
Main Street Capital Corp.		8,421		270,230
Manning & Napier, Inc.		4,252		70,328
MCG Capital Corp.		22,352		106,843
Medallion Financial Corp.		5,576		73,715
Medley Capital Corp.		8,716		138,149
MVC Capital, Inc.		7,182		92,145
New Mountain Finance Corp.		7,176		104,913
NGP Capital Resources Co.		6,765		48,099
OFS Capital Corp.		1,285		17,990
Oppenheimer Holdings, Inc., Class A		3,096		60,279
PennantPark Investment Corp.		20,083		226,737
Piper Jaffray Cos., Inc.*		4,590		157,437
Prospect Capital Corp.		60,754		662,826
Pzena Investment Management, Inc., Class A		1,067		6,936
Safeguard Scientifics, Inc.*		6,154		97,233
Solar Capital Ltd.		13,676		321,249
Solar Senior Capital Ltd.		3,115		59,808
Stellus Capital Investment Corp.		1,999		29,625
Stifel Financial Corp.*		10,538		365,352
SWS Group, Inc.*		8,624		52,175
TCP Capital Corp.		1,838		29,334
THL Credit, Inc.		4,472		66,991
TICC Capital Corp.		15,655		155,611
Triangle Capital Corp.		8,471		237,103
Value Partners Group Ltd.		4,452,000		2,884,820
Virtus Investment Partners, Inc.*		881		164,113
Walter Investment Management Corp.*		10,826		403,269
WhiteHorse Finance, Inc.		1,402		22,194
WisdomTree Investments, Inc.*		176,000		1,830,400
				17,896,973
Commercial Banks (4.9%)
1st Source Corp.		4,482		106,223
1st United Bancorp, Inc./Florida		9,115		58,883
Access National Corp.		2,260		37,064
American National Bankshares, Inc.		2,430		52,391
Ameris Bancorp*		7,154		102,660
Ames National Corp.		2,541		53,005
Arrow Financial Corp.		2,937		72,368
BancFirst Corp.		1,963		81,857
Banco Latinoamericano de Comercio Exterior S.A., Class E		8,617		213,185
Bancorp, Inc./Delaware*		9,622		133,265
BancorpSouth, Inc.		28,582		465,887
Bank of Kentucky Financial Corp.		1,811		49,676
Bank of Marin Bancorp/California		1,588		63,663
Bank of the Ozarks, Inc.		2,466		109,367
Banner Corp.		5,859		186,492
Bar Harbor Bankshares		1,093		39,949

See Notes to Portfolio of Investments.

169

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
BBCN Bancorp, Inc.		23,546	$	307,511
Berkshire Bancorp, Inc./New York		1,323		11,047
BOK Financial Corp.		13,200		822,360
Boston Private Financial Holdings, Inc.		23,423		231,419
Bridge Bancorp, Inc.		2,686		57,776
Bridge Capital Holdings*		2,015		30,709
Bryn Mawr Bank Corp.		3,479		80,991
BSB Bancorp, Inc./Massachusetts*		2,171		29,982
C&F Financial Corp.		933		38,206
Camden National Corp.		2,371		78,433
Capital Bank Financial Corp., Class A*		2,932		50,313
Capital City Bank Group, Inc.*		3,356		41,447
Cardinal Financial Corp.		8,813		160,220
Cascade Bancorp*		1,868		12,628
Cathay General Bancorp		203,812		4,100,697
Center Bancorp, Inc.		3,429		42,622
Centerstate Banks, Inc.		8,994		77,169
Central Pacific Financial Corp.*		6,422		100,825
Century Bancorp, Inc./Massachusetts, Class A		912		30,926
Chemical Financial Corp.		38,409		1,013,229
Citizens & Northern Corp.		3,753		73,183
Citizens Republic Bancorp, Inc.*		12,160		274,208
City Holding Co.		4,595		182,835
CNB Financial Corp./Pennsylvania		3,882		66,188
CoBiz Financial, Inc.		10,020		80,962
Columbia Banking System, Inc.		12,212		268,420
Community Bank System, Inc.		12,040		356,745
Community Trust Bancorp, Inc.		4,322		147,078
ConnectOne Bancorp, Inc.*		339		10,594
Crescent Financial Bancshares, Inc.*		755		2,975
CVB Financial Corp.		26,852		302,622
Eagle Bancorp, Inc.*		5,438		119,038
East West Bancorp, Inc.		175,000		4,492,250
Enterprise Bancorp, Inc./Massachusetts		1,806		30,612
Enterprise Financial Services Corp.		5,291		75,873
F.N.B. Corp./Pennsylvania		42,544		514,782
Farmers National Banc Corp.		5,773		36,428
Fidelity Southern Corp.*		2,873		33,039
Financial Institutions, Inc.		4,164		83,113
First Bancorp, Inc./Maine		2,757		49,654
First Bancorp/North Carolina		5,024		67,774
First BanCorp/Puerto Rico*		21,003		130,849
First Busey Corp.		21,807		99,658
First California Financial Group, Inc.*		6,781		57,774
First Commonwealth Financial Corp.		30,188		225,202
First Community Bancshares, Inc./Virginia		5,390		85,432
First Connecticut Bancorp, Inc./Connecticut		5,299		78,054
First Financial Bancorp		18,220		292,431
First Financial Bankshares, Inc.		9,611		467,095
First Financial Corp./Indiana		3,396		106,940
First Interstate Bancsystem, Inc.		5,058		95,141
First Merchants Corp.		8,522		131,835
First Midwest Bancorp, Inc./Illinois		22,536		299,278
First of Long Island Corp.		2,339		69,351
FirstMerit Corp.		33,381		551,788
FNB United Corp.*		746		7,281
German American Bancorp, Inc.		3,891		89,532
Glacier Bancorp, Inc.		21,864		414,979
Great Southern Bancorp, Inc.		3,160		77,072
Guaranty Bancorp*		23,485		49,319
Hancock Holding Co.		23,116		714,747
Hanmi Financial Corp.*		9,397		150,352
Heartland Financial USA, Inc.		4,450		112,452
Heritage Commerce Corp.*		6,476		43,583
Heritage Financial Corp./Washington		4,455		64,598
Heritage Oaks Bancorp*		5,734		32,684
Home BancShares, Inc./Arkansas		6,700		252,389
HomeTrust Bancshares, Inc.*		6,287		99,335
Horizon Bancorp/Indiana		1,759		35,549
Hudson Valley Holding Corp.		4,600		68,586
IBERIABANK Corp.		8,935		446,929
Independent Bank Corp./Massachusetts		6,687		217,929
International Bancshares Corp.		16,299		339,019
Investors Bancorp, Inc.		11,113		208,702
Lakeland Bancorp, Inc.		8,450		83,233
Lakeland Financial Corp.		4,957		132,302
MainSource Financial Group, Inc.		5,968		83,791
MB Financial, Inc.		16,526		399,433
Mercantile Bank Corp.		2,515		42,026
Merchants Bancshares, Inc.		1,529		46,076
Metro Bancorp, Inc.*		4,299		71,105
MetroCorp Bancshares, Inc.*		4,704		47,463
Middleburg Financial Corp.		1,444		28,028
MidSouth Bancorp, Inc.		2,589		42,097
MidWestOne Financial Group, Inc.		1,994		47,477
National Bank Holdings Corp., Class A		2,210		40,443
National Bankshares, Inc./Virginia		2,145		74,925
National Penn Bancshares, Inc.		37,360		399,378
NBT Bancorp, Inc.		13,262		293,753
Northrim BanCorp, Inc.		1,988		44,670
Old National Bancorp/Indiana		30,799		423,486
OmniAmerican Bancorp, Inc.*		3,302		83,475
Oriental Financial Group, Inc.		61,632		955,912
Pacific Continental Corp.		5,448		60,854
Pacific Mercantile Bancorp*		3,279		19,182
PacWest Bancorp		9,237		268,889
Park National Corp.		3,497		244,056
Park Sterling Corp.*		12,924		72,891
Peapack-Gladstone Financial Corp.		2,290		34,144
Penns Woods Bancorp, Inc.		1,074		44,002
Peoples Bancorp, Inc./Ohio		14,633		327,633
Pinnacle Financial Partners, Inc.*		10,470		244,579
Preferred Bank/California*		3,679		58,055
PrivateBancorp, Inc.		19,305		365,058
Prosperity Bancshares, Inc.		14,427		683,696
Renasant Corp.		7,608		170,267
Republic Bancorp, Inc./Kentucky, Class A		2,937		66,494
S&T Bancorp, Inc.		8,791		162,985
Sandy Spring Bancorp, Inc.		7,286		146,449
SCBT Financial Corp.		5,071		255,578
Seacoast Banking Corp. of Florida*		22,938		47,940
Sierra Bancorp		3,648		47,971
Simmons First National Corp., Class A		5,204		131,765
Southside Bancshares, Inc.		5,178		108,790
Southwest Bancorp, Inc./Oklahoma*		5,945		74,669
State Bank Financial Corp.		9,499		155,499
StellarOne Corp.		6,970		112,566
Sterling Bancorp/New York		9,549		97,018
Sterling Financial Corp./Washington		8,083		175,320
Suffolk Bancorp*		2,937		41,823
Sun Bancorp, Inc./New Jersey*		11,815		40,289

See Notes to Portfolio of Investments.

170

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Susquehanna Bancshares, Inc.		56,833	$	706,434
SY Bancorp, Inc.		3,694		83,115
Taylor Capital Group, Inc.*		4,892		78,223
Texas Capital Bancshares, Inc.*		1,603		64,841
Tompkins Financial Corp.		3,179		134,408
TowneBank/Virginia		8,055		120,583
Trico Bancshares		4,829		82,576
Trustmark Corp.		20,222		505,752
UMB Financial Corp.		9,812		481,475
Umpqua Holdings Corp.		33,812		448,347
Union First Market Bankshares Corp.		6,123		119,766
United Bankshares, Inc./West Virginia		12,961		344,892
United Community Banks, Inc./Georgia*		12,694		143,950
Univest Corp. of Pennsylvania		5,171		90,079
Virginia Commerce Bancorp, Inc.*		8,068		113,355
Washington Banking Co.		4,817		67,149
Washington Trust Bancorp, Inc.		4,364		119,486
Webster Financial Corp.		21,753		527,728
WesBanco, Inc.		7,369		176,488
West Bancorp, Inc.		4,792		53,191
West Coast Bancorp/Oregon		5,949		144,442
Westamerica Bancorp		3,813		172,843
Western Alliance Bancorp*		22,126		306,224
Wilshire Bancorp, Inc.*		18,604		126,135
Wintrust Financial Corp.		10,979		406,662
				35,744,362
Consumer Finance (0.5%)
Asset Acceptance Capital Corp.*		4,994		33,659
Asta Funding, Inc.		2,325		22,320
Cash America International, Inc.		5,220		273,893
DFC Global Corp.*		2,851		47,441
Encore Capital Group, Inc.*		1,325		39,882
EZCORP, Inc., Class A*		154,479		3,290,403
First Marblehead Corp.*		18,704		18,891
Nelnet, Inc., Class A		7,227		244,273
Nicholas Financial, Inc.		3,064		45,041
				4,015,803
Diversified Financial Services (2.3%)
California First National Bancorp		727		12,570
CBOE Holdings, Inc.		18,000		664,920
Gain Capital Holdings, Inc.		4,693		20,931
Marlin Business Services Corp.		2,469		57,256
MicroFinancial, Inc.		1,643		13,850
NewStar Financial, Inc.*		7,899		104,504
Onex Corp.		148,900		7,092,107
PHH Corp.*		17,063		374,703
PICO Holdings, Inc.*		6,781		150,538
Resource America, Inc., Class A		3,553		35,388
Texas Pacific Land Trust		118,500		8,351,880
				16,878,647
Insurance (4.0%)
Alterra Capital Holdings Ltd.		25,942		817,173
American Equity Investment Life Holding Co.		18,870		280,974
American Safety Insurance Holdings Ltd.*		2,337		58,331
AMERISAFE, Inc.		5,481		194,795
Amtrust Financial Services, Inc.		89,254		3,092,651
Argo Group International Holdings Ltd.		7,757		320,985
Arthur J. Gallagher & Co.		18,500		764,235
Aspen Insurance Holdings Ltd.		37,500		1,446,750
Assurant, Inc.		4,000		180,040
Baldwin & Lyons, Inc., Class B		2,781		66,160
Citizens, Inc./Texas*		11,681		98,004
CNO Financial Group, Inc.		60,888		697,168
Crawford & Co., Class B		8,117		61,608
Donegal Group, Inc., Class A		2,142		32,708
Eastern Insurance Holdings, Inc.		1,949		36,563
EMC Insurance Group, Inc.		1,239		32,623
Employers Holdings, Inc.		7,661		179,650
Enstar Group Ltd.*		2,541		315,821
FBL Financial Group, Inc., Class A		2,841		110,401
First American Financial Corp.		29,231		747,437
Fortegra Financial Corp.*		1,954		17,117
Global Indemnity plc*		3,001		69,623
Greenlight Capital Reinsurance Ltd., Class A*		125,072		3,058,010
Hallmark Financial Services*		3,844		34,596
Hanover Insurance Group, Inc.		34,600		1,718,928
HCC Insurance Holdings, Inc.		14,700		617,841
Health Insurance Innovations, Inc., Class A*		1,102		16,629
Hilltop Holdings, Inc.*		12,061		162,703
Homeowners Choice, Inc.		1,949		53,110
Horace Mann Educators Corp.		12,035		250,930
Independence Holding Co.		2,379		24,218
Infinity Property & Casualty Corp.		3,520		197,824
Investors Title Co.		356		24,589
Kansas City Life Insurance Co.		1,304		51,025
Maiden Holdings Ltd.		15,452		163,637
Meadowbrook Insurance Group, Inc.		14,175		99,934
Montpelier Reinsurance Holdings Ltd.		63,962		1,666,210
National Financial Partners Corp.*		12,371		277,481
National Interstate Corp.		1,857		55,673
National Western Life Insurance Co., Class A		638		112,288
Navigators Group, Inc.*		1,703		100,051
Old Republic International Corp.		113,000		1,436,230
OneBeacon Insurance Group Ltd., Class A		6,869		92,869
Phoenix Cos., Inc.*		1,688		51,940
Platinum Underwriters Holdings Ltd.		9,928		554,082
Primerica, Inc.		13,442		440,629
Protective Life Corp.		91,000		3,257,800
RLI Corp.		9,802		704,274
Safety Insurance Group, Inc.		3,880		190,702
Selective Insurance Group, Inc.		16,626		399,190
StanCorp Financial Group, Inc.		36,700		1,569,292
State Auto Financial Corp.		3,830		66,719
Stewart Information Services Corp.		5,977		152,234
Symetra Financial Corp.		23,494		315,055
Tower Group International Ltd.		5,458		100,700
United Fire Group, Inc.		6,055		154,221
Universal Insurance Holdings, Inc.		5,661		27,456
Validus Holdings Ltd.		35,000		1,307,950
				29,127,837
Real Estate Investment Trusts (REITs) (6.1%)
AG Mortgage Investment Trust, Inc. (REIT)		8,429		214,687
Agree Realty Corp. (REIT)		4,278		128,768
Alexander’s, Inc. (REIT)		500		164,845
American Assets Trust, Inc. (REIT) .		10,670		341,547
American Capital Mortgage Investment Corp. (REIT)		19,030		491,925
AmREIT, Inc. (REIT), Class B		955		18,584
Anworth Mortgage Asset Corp. (REIT)		45,217		286,224

See Notes to Portfolio of Investments.

171

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MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Apollo Commercial Real Estate Finance, Inc. (REIT)		10,130	$	178,187
Apollo Residential Mortgage, Inc. (REIT)		8,516		189,822
Ares Commercial Real Estate Corp. (REIT)		2,239		37,884
ARMOUR Residential REIT, Inc. (REIT)		114,300		746,379
Ashford Hospitality Trust, Inc. (REIT)		16,758		207,129
Associated Estates Realty Corp. (REIT)		9,176		171,041
Campus Crest Communities, Inc. (REIT)		19,134		265,963
CapLease, Inc. (REIT)		22,660		144,344
Capstead Mortgage Corp. (REIT)		32,331		414,483
Cedar Realty Trust, Inc. (REIT)		19,310		117,984
Chatham Lodging Trust (REIT)		5,324		93,756
Chesapeake Lodging Trust (REIT)		14,848		340,613
Colonial Properties Trust (REIT)		27,059		611,804
Colony Financial, Inc. (REIT)		19,754		438,539
Coresite Realty Corp. (REIT)		3,155		110,362
Cousins Properties, Inc. (REIT)		28,440		304,024
CreXus Investment Corp. (REIT)		22,385		291,453
CubeSmart (REIT)		40,667		642,539
CyrusOne, Inc. (REIT)		4,457		101,798
CYS Investments, Inc. (REIT)		54,522		640,088
DCT Industrial Trust, Inc. (REIT)		83,410		617,234
DiamondRock Hospitality Co. (REIT)		57,953		539,542
DuPont Fabros Technology, Inc. (REIT)		10,109		245,345
Dynex Capital, Inc. (REIT)		18,182		194,184
EastGroup Properties, Inc. (REIT)		894		52,031
Education Realty Trust, Inc. (REIT)		35,361		372,351
EPR Properties (REIT)		14,785		769,559
Equity Lifestyle Properties, Inc. (REIT)		80,000		6,144,000
Equity One, Inc. (REIT)		17,851		427,888
Excel Trust, Inc. (REIT)		13,669		186,582
FelCor Lodging Trust, Inc. (REIT)*		15,600		92,820
First Industrial Realty Trust, Inc. (REIT)		32,536		557,342
First Potomac Realty Trust (REIT)		16,521		245,006
Franklin Street Properties Corp. (REIT)		23,546		344,242
GEO Group, Inc. (REIT)		21,539		810,297
Getty Realty Corp. (REIT)		8,338		168,511
Gladstone Commercial Corp. (REIT)		4,194		81,657
Glimcher Realty Trust (REIT)		5,010		58,116
Government Properties Income Trust (REIT)		14,101		362,819
Gramercy Capital Corp./New York (REIT)*		14,504		75,566
Gyrodyne Co. of America, Inc. (REIT)		66		4,852
Healthcare Realty Trust, Inc. (REIT)		27,258		773,855
Hersha Hospitality Trust (REIT)		53,787		314,116
Highwoods Properties, Inc. (REIT)		4,814		190,490
Hudson Pacific Properties, Inc. (REIT)		13,269		288,601
Inland Real Estate Corp. (REIT)		14,485		146,154
Invesco Mortgage Capital, Inc. (REIT)		41,964		897,610
Investors Real Estate Trust (REIT)		29,518		291,343
iStar Financial, Inc. (REIT)*		25,712		280,004
JAVELIN Mortgage Investment Corp. (REIT)		1,804		35,449
Kite Realty Group Trust (REIT)		20,810		140,259
LaSalle Hotel Properties (REIT)		29,194		740,944
Lexington Realty Trust (REIT)		46,623		550,151
LTC Properties, Inc. (REIT)		7,840		319,323
Medical Properties Trust, Inc. (REIT)		46,013		738,048
Monmouth Real Estate Investment Corp. (REIT), Class A		7,600		84,740
New York Mortgage Trust, Inc. (REIT)		15,729		118,597
NorthStar Realty Finance Corp. (REIT)		59,409		563,197
One Liberty Properties, Inc. (REIT)		3,898		84,664
Parkway Properties, Inc./Maryland (REIT)		8,147		151,127
Pebblebrook Hotel Trust (REIT)		18,388		474,226
Pennsylvania Real Estate Investment Trust (REIT)		17,243		334,342
PennyMac Mortgage Investment Trust (REIT)		18,141		469,670
Potlatch Corp. (REIT)		5,088		233,336
PS Business Parks, Inc. (REIT)		1,208		95,335
RAIT Financial Trust (REIT)		18,430		146,887
Ramco-Gershenson Properties Trust (REIT)		18,214		305,995
Redwood Trust, Inc. (REIT)		24,409		565,801
Resource Capital Corp. (REIT)		33,691		222,697
Retail Opportunity Investments Corp. (REIT)		16,894		236,685
RLJ Lodging Trust (REIT)		37,404		851,315
Rouse Properties, Inc. (REIT)		292,980		5,302,938
Ryman Hospitality Properties (REIT)		3,248		148,596
Sabra Health Care REIT, Inc. (REIT)		11,697		339,330
Select Income REIT (REIT)		3,696		97,759
Silver Bay Realty Trust Corp. (REIT)		12,795		264,863
Sovran Self Storage, Inc. (REIT)		1,047		67,521
Spirit Realty Capital, Inc. (REIT)		8,292		157,548
STAG Industrial, Inc. (REIT)		11,327		240,925
Strategic Hotels & Resorts, Inc. (REIT)*		8,945		74,691
Summit Hotel Properties, Inc. (REIT)		17,149		179,550
Sunstone Hotel Investors, Inc. (REIT)*		49,030		603,559
Terreno Realty Corp. (REIT)		5,771		103,763
Two Harbors Investment Corp. (REIT)		109,615		1,382,245
UMH Properties, Inc. (REIT)		4,039		41,480
Universal Health Realty Income Trust (REIT)		1,765		101,858
Urstadt Biddle Properties, Inc. (REIT), Class A		2,341		50,940
Washington Real Estate Investment Trust (REIT)		14,638		407,522
Western Asset Mortgage Capital Corp. (REIT)		5,999		139,417
Whitestone REIT (REIT)		5,185		78,501
Winthrop Realty Trust (REIT)		309,283		3,890,780
ZAIS Financial Corp. (REIT)*		1,387		28,614
				44,392,077
Real Estate Management & Development (1.6%)
AV Homes, Inc.*		2,900		38,657
Consolidated-Tomoka Land Co.		1,258		49,376
Forestar Group, Inc.*		10,553		230,689
Howard Hughes Corp.*		129,600		10,861,776

See Notes to Portfolio of Investments.

172

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MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Kennedy-Wilson Holdings, Inc.		14,505	$	224,973
Thomas Properties Group, Inc.		9,995		51,274
				11,456,745
Thrifts & Mortgage Finance (1.1%)
Astoria Financial Corp.		26,428		260,580
Bank Mutual Corp.		13,272		73,394
BankFinancial Corp.		5,799		46,914
Beneficial Mutual Bancorp, Inc.*		8,743		90,053
Berkshire Hills Bancorp, Inc.		7,388		188,690
BofI Holding, Inc.*		3,240		116,251
Brookline Bancorp, Inc.		21,402		195,614
Cape Bancorp, Inc.		3,114		28,524
Charter Financial Corp./Georgia		1,872		23,943
Clifton Savings Bancorp, Inc.		2,253		28,072
Dime Community Bancshares, Inc.		9,424		135,329
Doral Financial Corp.*		40,234		28,353
ESB Financial Corp.		3,077		42,124
ESSA Bancorp, Inc.		2,996		32,477
EverBank Financial Corp.		7,017		108,062
Farmer Mac, Class C		3,037		93,509
First Defiance Financial Corp.		3,019		70,403
First Federal Bancshares of Arkansas, Inc.*		642		6,420
First Financial Holdings, Inc.		4,991		104,611
First Financial Northwest, Inc.*		4,516		35,270
First PacTrust Bancorp, Inc.		3,047		34,736
Flushing Financial Corp.		9,461		160,269
Fox Chase Bancorp, Inc.		3,696		62,425
Franklin Financial Corp./Virginia		3,982		72,672
Heritage Financial Group, Inc.		2,128		30,813
Hingham Institution for Savings		339		23,628
Home Bancorp, Inc.*		1,943		36,159
Home Federal Bancorp, Inc./Idaho		4,459		57,075
Home Loan Servicing Solutions Ltd.		16,070		374,913
HomeStreet, Inc.*		2,664		59,514
Kearny Financial Corp.*		4,627		47,195
Meridian Interstate Bancorp, Inc.*		2,441		45,769
MGIC Investment Corp.*		94,717		468,849
NASB Financial, Inc.*		1,317		27,723
Northfield Bancorp, Inc./New Jersey		6,235		70,830
Northwest Bancshares, Inc.		29,825		378,479
OceanFirst Financial Corp.		4,323		62,338
Ocwen Financial Corp.*		30,617		1,160,997
Oritani Financial Corp.		9,143		141,625
Peoples Federal Bancshares, Inc.		1,772		33,845
Provident Financial Holdings, Inc.		2,786		47,390
Provident Financial Services, Inc.		18,295		279,365
Provident New York Bancorp		11,718		106,282
Radian Group, Inc.		52,234		559,426
Rockville Financial, Inc.		8,732		113,167
Roma Financial Corp.		2,126		34,144
SI Financial Group, Inc.		2,954		35,714
Simplicity Bancorp, Inc.		2,495		37,500
Territorial Bancorp, Inc.		3,330		79,187
Tree.com, Inc.		687		12,703
TrustCo Bank Corp./New York		162,896		908,960
United Financial Bancorp, Inc.		5,974		90,805
ViewPoint Financial Group, Inc.		10,257		206,268
Walker & Dunlop, Inc.*		3,556		63,901
Waterstone Financial, Inc.*		2,252		18,624
Westfield Financial, Inc.		5,899		45,894
WSFS Financial Corp.		2,291		111,434
				7,809,211
Total Financials				167,321,655
Health Care (2.4%)
Biotechnology (0.1%)
Agenus, Inc.*		2,706		10,526
AMAG Pharmaceuticals, Inc.*		1,219		29,073
Arena Pharmaceuticals, Inc.*		7,645		62,765
Astex Pharmaceuticals*		28,377		126,561
AVEO Pharmaceuticals, Inc.*		956		7,027
Codexis, Inc.*		8,084		19,321
Curis, Inc.*		5,577		18,293
Cytori Therapeutics, Inc.*		3,143		7,889
Durata Therapeutics, Inc.*		373		3,357
Dynavax Technologies Corp.*		6,309		14,006
Emergent Biosolutions, Inc.*		6,278		87,766
Enzon Pharmaceuticals, Inc.		11,501		43,704
Geron Corp.*		40,989		43,858
GTx, Inc.*		1,491		6,188
Hyperion Therapeutics, Inc.*		179		4,622
Idenix Pharmaceuticals, Inc.*		2,703		9,623
ImmunoGen, Inc.*		5,888		94,561
Intercept Pharmaceuticals, Inc.*		230		8,602
InterMune, Inc.*		10,977		99,342
KaloBios Pharmaceuticals, Inc.*		492		2,952
KYTHERA Biopharmaceuticals, Inc.*		252		6,139
Lexicon Pharmaceuticals, Inc.*		36,342		79,226
LipoScience, Inc.*		303		3,185
Maxygen, Inc.		8,454		20,374
Momenta Pharmaceuticals, Inc.*		8,731		116,472
NPS Pharmaceuticals, Inc.*		8,764		89,305
PDL BioPharma, Inc.		6,082		44,459
Regulus Therapeutics, Inc.*		622		4,820
Repligen Corp.*		1,026		7,090
Rigel Pharmaceuticals, Inc.*		4,675		31,743
Targacept, Inc.*		8,466		36,234
Tesaro, Inc.*		199		4,370
Vical, Inc.*		1,635		6,507
XOMA Corp.*		2,363		8,247
				1,158,207
Health Care Equipment & Supplies (1.6%)
Alphatec Holdings, Inc.*		16,874		35,604
AngioDynamics, Inc.*		7,118		81,359
ArthroCare Corp.*		1,430		49,707
Cerus Corp.*		2,125		9,393
CONMED Corp.		8,548		291,145
CryoLife, Inc.		8,280		49,763
Cynosure, Inc., Class A*		1,789		46,818
Derma Sciences, Inc.*		3,201		38,668
Exactech, Inc.*		1,931		39,952
Globus Medical, Inc., Class A*		784		11,509
Greatbatch, Inc.*		7,112		212,435
Hill-Rom Holdings, Inc.		28,100		989,682
ICU Medical, Inc.*		385		22,696
Integra LifeSciences Holdings Corp.*		2,501		97,564
Invacare Corp.		9,597		125,241
Merit Medical Systems, Inc.*		11,951		146,519
Natus Medical, Inc.*		3,394		45,615
NuVasive, Inc.*		9,818		209,222
Orthofix International N.V.*		1,075		38,560
Palomar Medical Technologies, Inc.*		5,942		80,158
PhotoMedex, Inc.*		644		10,362
Rochester Medical Corp.*		345,433		5,050,230
Rockwell Medical Technologies, Inc.*		487		1,929
RTI Biologics, Inc.*		15,582		61,393
Solta Medical, Inc.*		20,337		44,741
STERIS Corp.		32,194		1,339,592

See Notes to Portfolio of Investments.

173

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
SurModics, Inc.*		2,931	$	79,870
Symmetry Medical, Inc.*		7,719		88,383
Teleflex, Inc.		18,000		1,521,180
Tornier N.V.*		1,430		26,955
West Pharmaceutical Services, Inc.		3,698		240,148
Wright Medical Group, Inc.*		12,036		286,577
Zeltiq Aesthetics, Inc.*		3,151		12,037
				11,385,007
Health Care Providers & Services (0.5%)
Almost Family, Inc.		2,447		49,992
Amedisys, Inc.*		8,923		99,224
AMN Healthcare Services, Inc.*		5,967		94,458
Amsurg Corp.*		6,370		214,287
Assisted Living Concepts, Inc., Class A		5,990		71,221
BioScrip, Inc.*		9,736		123,745
Capital Senior Living Corp.*		1,278		33,777
Chindex International, Inc.*		3,385		46,510
Cross Country Healthcare, Inc.*		7,885		41,869
Ensign Group, Inc.		1,952		65,197
ExamWorks Group, Inc.*		7,068		122,418
Five Star Quality Care, Inc.*		12,887		86,214
Gentiva Health Services, Inc.*		9,274		100,345
Hanger, Inc.*		10,290		324,444
HealthSouth Corp.*		4,344		114,551
Healthways, Inc.*		10,197		124,913
Kindred Healthcare, Inc.*		15,785		166,216
LHC Group, Inc.*		4,212		90,516
Magellan Health Services, Inc.*		7,801		371,094
Molina Healthcare, Inc.*		8,331		257,178
National Healthcare Corp.		3,192		145,938
Owens & Minor, Inc.		2,825		91,982
PDI, Inc.*		2,798		16,508
PharMerica Corp.*		8,950		125,300
Providence Service Corp.*		3,006		55,581
Select Medical Holdings Corp.		10,649		95,841
Skilled Healthcare Group, Inc., Class A*		56		368
Triple-S Management Corp., Class B*		5,714		99,538
Universal American Corp.		11,458		95,445
Vanguard Health Systems, Inc.*		1,045		15,539
WellCare Health Plans, Inc.*		6,719		389,433
				3,729,642
Health Care Technology (0.1%)
Greenway Medical Technologies*		583		9,270
MedAssets, Inc.*		11,696		225,148
Merge Healthcare, Inc.*		4,306		12,444
Omnicell, Inc.*		9,016		170,222
Vocera Communications, Inc.*		1,267		29,141
				446,225
Life Sciences Tools & Services (0.0%)
Affymetrix, Inc.*		21,611		102,004
Cambrex Corp.*		4,525		57,875
Harvard Bioscience, Inc.*		6,632		37,471
Pacific Biosciences of California, Inc.*		11,482		28,590
Sequenom, Inc.*		8,661		35,943
				261,883
Pharmaceuticals (0.1%)
AVANIR Pharmaceuticals, Inc., Class A*		2,804		7,683
Cornerstone Therapeutics, Inc.*		2,430		17,180
Cumberland Pharmaceuticals, Inc.*		1,658		8,257
Hi-Tech Pharmacal Co., Inc.		2,010		66,551
Horizon Pharma, Inc.*		5,301		14,366
Lannett Co., Inc.*		4,964		50,186
Nektar Therapeutics*		10,106		111,166
Supernus Pharmaceuticals, Inc.*		1,065		5,985
Transcept Pharmaceuticals, Inc.*		3,412		16,343
ViroPharma, Inc.*		19,993		503,024
XenoPort, Inc.*		1,760		12,584
				813,325
Total Health Care				17,794,289
Industrials (17.6%)
Aerospace & Defense (0.7%)
AAR Corp.		99,099		1,822,431
Aerovironment, Inc.*		2,050		37,166
American Science & Engineering, Inc.		2,069		126,188
API Technologies Corp.*		8,974		22,256
Cubic Corp.		2,243		95,821
Curtiss-Wright Corp.		14,111		489,652
DigitalGlobe, Inc.*		8,626		249,378
Esterline Technologies Corp.*		9,249		700,149
GenCorp, Inc.*		3,751		49,888
KEYW Holding Corp.*		4,354		70,230
Kratos Defense & Security Solutions, Inc.*		11,434		57,513
LMI Aerospace, Inc.*		2,323		48,295
Moog, Inc., Class A*		12,087		553,947
National Presto Industries, Inc.		1,291		103,926
Orbital Sciences Corp.*		17,874		298,317
SIFCO Industries, Inc.		398		7,327
Sypris Solutions, Inc.		943		3,942
Teledyne Technologies, Inc.*		7,250		568,690
				5,305,116
Air Freight & Logistics (0.1%)
Air Transport Services Group, Inc.*		16,311		95,093
Atlas Air Worldwide Holdings, Inc.*		7,992		325,754
Pacer International, Inc.*		8,748		44,002
Park-Ohio Holdings Corp.*		52		1,723
				466,572
Airlines (0.3%)
Alaska Air Group, Inc.*		1,198		76,624
Hawaiian Holdings, Inc.*		6,797		39,151
JetBlue Airways Corp.*		70,547		486,774
Republic Airways Holdings, Inc.*		6,583		75,968
SkyWest, Inc.		94,490		1,516,564
				2,195,081
Building Products (1.2%)
A.O. Smith Corp.		10,670		784,992
American Woodmark Corp.*		2,460		83,714
Apogee Enterprises, Inc.		75,797		2,194,323
Gibraltar Industries, Inc.*		86,286		1,574,719
Griffon Corp.		13,766		164,091
Insteel Industries, Inc.		5,029		82,073
NCI Building Systems, Inc.*		5,451		94,684
PGT, Inc.*		3,213		22,073
Quanex Building Products Corp.		11,156		179,612
Simpson Manufacturing Co., Inc.		45,831		1,402,887
Universal Forest Products, Inc.		51,940		2,067,731
				8,650,899
Commercial Services & Supplies (2.4%)
A.T. Cross Co., Class A*		223		3,071
ABM Industries, Inc.		16,242		361,222
ACCO Brands Corp.*		18,342		122,525
ARC Document Solutions, Inc.*		9,170		27,327
Casella Waste Systems, Inc., Class A*		10,334		45,160
CECO Environmental Corp.		315		4,073

See Notes to Portfolio of Investments.

174

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Cenveo, Inc.*		15,837	$	34,050
CompX International, Inc.		248		3,142
Consolidated Graphics, Inc.*		2,286		89,383
Courier Corp.		2,869		41,342
Deluxe Corp.		5,166		213,872
EnergySolutions, Inc.*		17,246		64,672
EnerNOC, Inc.*		4,800		83,376
Ennis, Inc.		7,643		115,180
G&K Services, Inc., Class A		5,812		264,504
HNI Corp.		764		27,114
Intersections, Inc.		890		8,375
Kimball International, Inc., Class B		10,081		91,334
Knoll, Inc.		4,364		79,119
McGrath RentCorp.		33,330		1,036,563
Metalico, Inc.*		10,951		17,741
Mine Safety Appliances Co.		25,800		1,280,196
Mobile Mini, Inc.*		203,537		5,990,094
Multi-Color Corp.		3,720		95,939
NL Industries, Inc.		1,938		24,089
Performant Financial Corp.*		1,059		13,005
Quad/Graphics, Inc.		7,612		182,231
Schawk, Inc.		50,898		559,369
Steelcase, Inc., Class A		19,881		292,847
Swisher Hygiene, Inc.*		32,590		42,041
Team, Inc.*		124,000		5,092,680
Tetra Tech, Inc.*		3,602		109,825
TMS International Corp., Class A*		1,945		25,674
TRC Cos., Inc.*		774		4,992
U.S. Ecology, Inc.		2,093		55,569
UniFirst Corp.		4,392		397,476
United Stationers, Inc.		11,570		447,180
Viad Corp.		6,160		170,386
				17,516,738
Construction & Engineering (1.4%)
Aegion Corp.*		10,310		238,676
Ameresco, Inc., Class A*		1,172		8,673
Argan, Inc.		2,353		35,083
Chicago Bridge & Iron Co. N.V. (N.Y. Shares)		28,000		1,738,800
Comfort Systems USA, Inc.		7,921		111,607
Dycom Industries, Inc.*		1,398		27,527
EMCOR Group, Inc.		46,369		1,965,582
Furmanite Corp.*		396,171		2,650,384
Granite Construction, Inc.		72,206		2,299,039
Great Lakes Dredge & Dock Corp.		16,111		108,427
Layne Christensen Co.*		5,934		126,869
Michael Baker Corp.		2,649		64,900
MYR Group, Inc.*		2,885		70,856
Northwest Pipe Co.*		2,792		78,120
Orion Marine Group, Inc.*		8,301		82,512
Pike Electric Corp.		5,178		73,683
Primoris Services Corp.		6,656		147,164
Sterling Construction Co., Inc.*		4,610		50,203
Tutor Perini Corp.*		10,887		210,119
				10,088,224
Electrical Equipment (0.7%)
American Superconductor Corp.*		11,080		29,473
Belden, Inc.		1,485		76,700
Brady Corp., Class A		52,289		1,753,250
Encore Wire Corp.		4,979		174,365
EnerSys, Inc.*		11,227		511,727
Enphase Energy, Inc.*		687		4,259
Franklin Electric Co., Inc.		31,496		1,057,321
FuelCell Energy, Inc.*		35,107		33,134
Generac Holdings, Inc.		4,127		145,848
General Cable Corp.*		8,500		311,355
Global Power Equipment Group, Inc.		5,169		91,078
II-VI, Inc.*		2,315		39,448
LSI Industries, Inc.		6,042		42,173
Powell Industries, Inc.*		18,548		975,068
Preformed Line Products Co.		593		41,492
Solarcity Corp.*		2,002		37,798
Vicor Corp.*		4,868		24,194
				5,348,683
Industrial Conglomerates (0.2%)
Carlisle Cos., Inc.		26,500		1,796,435
Machinery (3.9%)
Accuride Corp.*		14,032		75,632
Actuant Corp., Class A		17,743		543,291
Alamo Group, Inc.		2,030		77,647
Albany International Corp., Class A		8,358		241,546
Altra Holdings, Inc.		3,707		100,905
American Railcar Industries, Inc.		2,838		132,648
Ampco-Pittsburgh Corp.		2,698		51,019
Astec Industries, Inc.		36,487		1,274,491
Barnes Group, Inc.		16,380		473,873
Briggs & Stratton Corp.		73,132		1,813,674
Cascade Corp.		2,686		174,536
CIRCOR International, Inc.		16,065		682,763
Colfax Corp.*		36,000		1,675,440
Columbus McKinnon Corp.*		5,673		109,205
Douglas Dynamics, Inc.		6,749		93,271
Dynamic Materials Corp.		2,611		45,431
Eastern Co.		1,855		32,537
Energy Recovery, Inc.*		12,977		48,015
EnPro Industries, Inc.*		34,388		1,759,634
ESCO Technologies, Inc.		5,461		223,136
ExOne Co.*		537		17,990
Federal Signal Corp.*		16,868		137,306
Flow International Corp.*		10,809		42,263
FreightCar America, Inc.		3,549		77,439
Gardner Denver, Inc.		5,800		435,638
Greenbrier Cos., Inc.*		6,999		158,947
Hardinge, Inc.		3,514		47,896
Hurco Cos., Inc.*		1,885		51,329
Hyster-Yale Materials Handling, Inc.		3,344		190,909
Kadant, Inc.*		3,537		88,425
Kaydon Corp.		40,712		1,041,413
Kennametal, Inc.		31,000		1,210,240
L.B. Foster Co., Class A		2,801		124,056
Lincoln Electric Holdings, Inc.		27,100		1,468,278
Lydall, Inc.*		5,187		79,620
Meritor, Inc.*		21,872		103,455
Met-Pro Corp.		4,094		42,291
Miller Industries, Inc.		3,249		52,146
Mueller Industries, Inc.		31,825		1,695,954
Mueller Water Products, Inc., Class A		16,418		97,359
Navistar International Corp.*		128,000		4,424,960
NN, Inc.*		4,982		47,130
Nordson Corp.		7,600		501,220
Pentair Ltd. (Registered)		16,500		870,375
PMFG, Inc.*		6,474		39,945
Rexnord Corp.*		6,711		142,475
Standex International Corp.		2,937		162,181
Trimas Corp.*		810		26,301
Trinity Industries, Inc.		61,900		2,805,927
Twin Disc, Inc.		2,640		66,211

See Notes to Portfolio of Investments.

175

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Wabash National Corp.*		100,569	$	1,021,781
Watts Water Technologies, Inc., Class A		28,626		1,373,762
				28,273,916
Marine (0.7%)
Genco Shipping & Trading Ltd.*		8,880		25,575
International Shipholding Corp.		1,394		25,371
Kirby Corp.*		65,000		4,992,000
Rand Logistics, Inc.*		4,707		28,830
				5,071,776
Professional Services (0.4%)
CBIZ, Inc.*		11,124		70,971
CDI Corp.		3,366		57,895
CRA International, Inc.*		3,092		69,168
Dolan Co.*		8,391		20,054
Franklin Covey Co.*		1,316		19,121
FTI Consulting, Inc.*		12,633		475,759
GP Strategies Corp.*		451		10,761
Heidrick & Struggles International, Inc.		5,383		80,476
Hill International, Inc.*		6,290		18,807
Hudson Global, Inc.*		10,195		40,168
ICF International, Inc.*		5,968		162,330
Insperity, Inc.		24,600		697,902
Kelly Services, Inc., Class A		8,012		149,664
Kforce, Inc.		706		11,557
Korn/Ferry International*		14,401		257,202
Navigant Consulting, Inc.*		15,769		207,205
Pendrell Corp.*		48,225		80,053
Resources Connection, Inc.		12,858		163,297
RPX Corp.*		553		7,803
TrueBlue, Inc.*		3,302		69,804
VSE Corp.		1,111		27,764
WageWorks, Inc.*		822		20,575
				2,718,336
Road & Rail (2.8%)
Amerco, Inc.		2,615		453,807
Arkansas Best Corp.		7,416		86,619
Genesee & Wyoming, Inc., Class A*		72,700		6,769,097
Heartland Express, Inc.		3,184		42,475
Marten Transport Ltd.		4,704		94,692
Patriot Transportation Holding, Inc.*		1,931		53,720
Quality Distribution, Inc.*		3,862		32,479
Roadrunner Transportation Systems, Inc.*		1,953		44,919
Saia, Inc.*		195,998		7,089,248
Universal Truckload Services, Inc.*		1,547		36,091
Vitran Corp., Inc.*‡		970,000		5,936,400
Werner Enterprises, Inc.		1,852		44,707
				20,684,254
Trading Companies & Distributors (2.8%)
Aceto Corp.		6,147		68,047
Aircastle Ltd.		16,664		227,964
Applied Industrial Technologies, Inc.		7,929		356,805
BlueLinx Holdings, Inc.*		7,974		22,726
CAI International, Inc.*		2,585		74,500
DXP Enterprises, Inc.*		96,000		7,171,200
Edgen Group, Inc.*		3,079		22,261
H&E Equipment Services, Inc.		4,006		81,722
Houston Wire & Cable Co.		3,531		45,727
Rush Enterprises, Inc., Class A*		224,027		5,403,531
SeaCube Container Leasing Ltd.		2,907		66,745
TAL International Group, Inc.		144,427		6,543,987
Willis Lease Finance Corp.*		1,235		18,673
				20,103,888
Transportation Infrastructure (0.0%)
Wesco Aircraft Holdings, Inc.*		3,798		55,907
Total Industrials				128,275,825
Information Technology (4.3%)
Communications Equipment (0.7%)
Anaren, Inc.*		3,419		66,294
Arris Group, Inc.*		29,750		510,808
Aviat Networks, Inc.*		18,342		61,813
Aware, Inc.		744		3,445
Bel Fuse, Inc., Class B		3,094		48,297
Black Box Corp.		4,853		105,844
Calix, Inc.*		7,748		63,146
Ciena Corp.*		7,268		116,361
Comtech Telecommunications Corp.		5,059		122,833
Digi International, Inc.*		7,553		67,448
Emulex Corp.*		26,096		170,407
Finisar Corp.*		27,560		363,516
Globecomm Systems, Inc.*		1,632		19,600
Harmonic, Inc.*		35,467		205,354
Infinera Corp.*		3,584		25,088
KVH Industries, Inc.*		703		9,540
Loral Space & Communications, Inc.		18,980		1,174,482
NETGEAR, Inc.*		6,328		212,051
Oclaro, Inc.*		22,767		28,686
Oplink Communications, Inc.*		5,798		95,087
PC-Tel, Inc.		5,272		37,431
Plantronics, Inc.		8,539		377,338
Ruckus Wireless, Inc.*		1,451		30,471
ShoreTel, Inc.*		1,825		6,625
Sonus Networks, Inc.*		59,242		153,437
Symmetricom, Inc.*		12,270		55,706
Tellabs, Inc.		111,166		232,337
Telular Corp.		1,982		19,939
Tessco Technologies, Inc.		801		17,334
ViaSat, Inc.*		8,000		387,520
Westell Technologies, Inc., Class A*		14,432		29,008
				4,817,246
Computers & Peripherals (0.2%)
Avid Technology, Inc.*		9,053		56,762
Electronics for Imaging, Inc.*		12,862		326,181
Imation Corp.*		9,494		36,267
Immersion Corp.*		445		5,224
Intermec, Inc.*		15,723		154,557
Intevac, Inc.*		7,164		33,814
OCZ Technology Group, Inc.*		19,534		35,161
QLogic Corp.*		20,808		241,373
Quantum Corp.*		66,900		85,632
Silicon Graphics International Corp.*		9,208		126,610
STEC, Inc.*		11,102		49,071
Super Micro Computer, Inc.*		963		10,872
				1,161,524
Electronic Equipment, Instruments & Components (1.2%)
Aeroflex Holding Corp.*		5,608		44,079
Agilysys, Inc.*		4,494		44,670
Anixter International, Inc.		3,392		237,169
Audience, Inc.*		1,429		21,792
Benchmark Electronics, Inc.*		125,458		2,260,753
Checkpoint Systems, Inc.*		12,264		160,168
Coherent, Inc.		5,070		287,672
CTS Corp.		10,209		106,582

See Notes to Portfolio of Investments.

176

AXA PREMIER VIP TRUST

MULTIMANAGER SMALL CAP VALUE PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Daktronics, Inc.		8,246	$	86,583
Echelon Corp.*		5,346		13,044
Electro Rent Corp.		5,197		96,352
Electro Scientific Industries, Inc.		6,902		76,267
Fabrinet*		6,704		97,945
FEI Co.		756		48,800
Gerber Scientific, Inc. (Escrow Shares)(b)*†		11,430		114
GSI Group, Inc.*		8,300		70,799
Ingram Micro, Inc., Class A*		40,000		787,200
Insight Enterprises, Inc.*		13,426		276,844
Kemet Corp.*		13,489		84,306
Key Tronic Corp.*		2,664		30,529
Littelfuse, Inc.		647		43,899
Measurement Specialties, Inc.*		561		22,311
Mercury Systems, Inc.*		9,242		68,114
Methode Electronics, Inc.		11,174		143,921
Multi-Fineline Electronix, Inc.*		25,385		391,691
Newport Corp.*		11,471		194,089
Park Electrochemical Corp.		6,328		160,352
PC Connection, Inc.		2,523		41,251
Plexus Corp.*		5,904		143,526
Power-One, Inc.*		20,359		84,490
RadiSys Corp.*		6,444		31,704
RealD, Inc.*		1,741		22,633
Richardson Electronics Ltd.		3,601		42,708
Rofin-Sinar Technologies, Inc.*		64,150		1,737,824
Rogers Corp.*		2,838		135,146
Sanmina Corp.*		24,758		281,251
ScanSource, Inc.*		8,271		233,408
SYNNEX Corp.*		7,952		294,224
TTM Technologies, Inc.*		15,932		121,083
Viasystems Group, Inc.*		1,201		15,661
Vishay Precision Group, Inc.*		3,593		52,781
Zygo Corp.*		3,960		58,648
				9,152,383
Internet Software & Services (0.3%)
Bankrate, Inc.*		1,664		19,868
Bazaarvoice, Inc.*		205		1,501
Blucora, Inc.*		10,253		158,716
Brightcove, Inc.*		108		671
Dealertrack Technologies, Inc.*		1,332		39,134
Demand Media, Inc.*		2,400		20,712
Demandware, Inc.*		158		4,005
Digital River, Inc.*		11,049		156,233
E2open, Inc.*		317		6,321
EarthLink, Inc.		32,401		175,613
Internap Network Services Corp.*		7,844		73,341
IntraLinks Holdings, Inc.*		10,896		69,299
j2 Global, Inc.		2,484		97,398
Keynote Systems, Inc.		4,593		64,118
Limelight Networks, Inc.*		16,739		34,482
Marchex, Inc., Class B		6,802		28,636
Market Leader, Inc.*		958		8,584
MeetMe, Inc.*		4,990		11,377
Millennial Media, Inc.*		346		2,197
Monster Worldwide, Inc.*		36,522		185,167
Perficient, Inc.*		2,286		26,655
QuinStreet, Inc.*		9,657		57,652
RealNetworks, Inc.*		6,003		46,283
support.com, Inc.*		4,122		17,230
TechTarget, Inc.*		4,723		23,096
Trulia, Inc.*		619		19,424
United Online, Inc.		27,753		167,351
Unwired Planet, Inc.*		1,524		3,383
ValueClick, Inc.*		9,081		268,344
WebMD Health Corp.*		15,357		373,482
Xoom Corp.*		140		3,198
				2,163,471
IT Services (0.4%)
Acxiom Corp.*		23,203		473,341
CACI International, Inc., Class A*		6,248		361,572
CIBER, Inc.*		21,725		102,107
Computer Task Group, Inc.		1,071		22,909
Convergys Corp.		33,012		562,194
CSG Systems International, Inc.*		4,425		93,766
Euronet Worldwide, Inc.*		15,268		402,159
ManTech International Corp., Class A		6,929		186,182
ModusLink Global Solutions, Inc.*		11,515		38,000
MoneyGram International, Inc.*		4,560		82,536
Sykes Enterprises, Inc.*		11,779		187,993
TeleTech Holdings, Inc.*		6,544		138,798
Unisys Corp.*		6,448		146,692
				2,798,249
Semiconductors & Semiconductor Equipment (1.2%)
Advanced Energy Industries, Inc.*		11,976		219,161
Alpha & Omega Semiconductor Ltd.*		4,905		43,556
Ambarella, Inc.*		1,039		16,271
Amkor Technology, Inc.*		22,023		88,092
ANADIGICS, Inc.*		24,323		48,646
Applied Micro Circuits Corp.*		19,437		144,223
ATMI, Inc.*		9,035		202,655
Axcelis Technologies, Inc.*		32,256		40,320
AXT, Inc.*		10,121		29,756
Brooks Automation, Inc.		20,108		204,699
CEVA, Inc.*		1,791		27,940
Cohu, Inc.		77,347		723,968
Cymer, Inc.*		6,505		625,131
Diodes, Inc.*		10,705		224,591
DSP Group, Inc.*		6,506		52,503
Entegris, Inc.*		41,559		409,772
Entropic Communications, Inc.*		27,010		109,931
Exar Corp.*		9,836		103,278
First Solar, Inc.*		18,188		490,348
FormFactor, Inc.*		14,947		70,251
GSI Technology, Inc.*		6,291		41,458
GT Advanced Technologies, Inc.*		5,827		19,171
Inphi Corp.*		4,118		43,033
Integrated Device Technology, Inc.*		42,873		320,261
Integrated Silicon Solution, Inc.*		8,111		74,378
International Rectifier Corp.*		20,863		441,252
Intersil Corp., Class A		38,610		336,293
IXYS Corp.		7,348		70,467
Kopin Corp.*		20,118		74,437
Lattice Semiconductor Corp.*		35,604		194,042
LTX-Credence Corp.*		14,730		88,969
MA-COM Technology Solutions Holdings, Inc.*		1,632		26,226
Mattson Technology, Inc.*		18,447		25,457
MaxLinear, Inc., Class A*		5,270		32,674
MEMC Electronic Materials, Inc.*		54,365		239,206
Mindspeed Technologies, Inc.*		11,263		37,506
MKS Instruments, Inc.		15,861		431,419
MoSys, Inc.*		10,357		48,781
Nanometrics, Inc.*		7,116		102,684
NeoPhotonics Corp.*		5,500		28,105
OmniVision Technologies, Inc.*		15,836		218,220
Peregrine Semiconductor Corp.*		1,195		11,675
Pericom Semiconductor Corp.*		7,007		47,718

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Photronics, Inc.*		18,346	$	122,551
PLX Technology, Inc.*		1,006		4,587
QuickLogic Corp.*		1,949		4,795
Rambus, Inc.*		30,800		172,788
RF Micro Devices, Inc.*		73,753		392,366
Rubicon Technology, Inc.*		5,367		35,422
Rudolph Technologies, Inc.*		9,686		114,101
Sigma Designs, Inc.*		10,048		48,934
Silicon Image, Inc.*		3,607		17,530
Spansion, Inc., Class A*		14,405		185,392
STR Holdings, Inc.*		9,597		20,825
SunPower Corp.*		6,584		75,979
Supertex, Inc.		2,938		65,253
Tessera Technologies, Inc.		15,678		293,963
TriQuint Semiconductor, Inc.*		50,959		257,343
Ultra Clean Holdings, Inc.*		8,258		53,677
Veeco Instruments, Inc.*		8,769		336,116
				9,030,146
Software (0.3%)
Accelrys, Inc.*		16,725		163,236
Actuate Corp.*		870		5,220
Aspen Technology, Inc.*		1,583		51,115
AVG Technologies N.V.*		203		2,826
Bottomline Technologies (de), Inc.*		8,072		230,133
Ebix, Inc.		2,281		36,998
Envivio, Inc.*		1,792		3,047
EPIQ Systems, Inc.		8,605		120,728
ePlus, Inc.		1,234		57,023
Exa Corp.*		442		4,208
FleetMatics Group plc*		669		16,223
Glu Mobile, Inc.*		1,036		3,087
Infoblox, Inc.*		215		4,666
Mentor Graphics Corp.		12,946		233,675
Pervasive Software, Inc.*		3,762		34,498
Progress Software Corp.*		17,433		397,124
QAD, Inc., Class A		54		693
Qualys, Inc.*		483		5,960
Rosetta Stone, Inc.*		1,527		23,485
Sapiens International Corp. N.V		4,162		22,641
SeaChange International, Inc.*		8,679		103,193
SS&C Technologies Holdings, Inc.*		7,448		223,291
Telenav, Inc.*		4,804		30,986
TiVo, Inc.*		18,804		232,982
VASCO Data Security International, Inc.*		4,846		40,900
				2,047,938
Total Information Technology				31,170,957
Materials (3.8%)
Chemicals (1.8%)
A. Schulman, Inc.		46,026		1,452,581
Axiall Corp.		3,833		238,259
Cabot Corp.		26,800		916,560
Calgon Carbon Corp.*		2,555		46,245
Chase Corp.		1,899		36,689
Chemtura Corp.*		9,174		198,250
Ferro Corp.*		26,222		176,998
FutureFuel Corp.		5,955		72,353
H.B. Fuller Co.		24,400		953,552
Innospec, Inc.		6,111		270,595
Kraton Performance Polymers, Inc.*		9,771		228,641
Landec Corp.*		5,827		84,317
LSB Industries, Inc.*		2,436		84,724
Minerals Technologies, Inc.		10,701		444,198
Olin Corp.		7,698		194,144
OM Group, Inc.*		9,699		227,733
PolyOne Corp.		8,802		214,857
Quaker Chemical Corp.		2,857		168,620
RPM International, Inc.		59,101		1,866,410
Sensient Technologies Corp.		29,600		1,157,064
Stepan Co.		298		18,804
Tredegar Corp.		7,343		216,178
Valhi, Inc.		214,400		3,441,120
Zep, Inc.		3,806		57,128
Zoltek Cos., Inc.*		8,138		97,249
				12,863,269
Construction Materials (0.1%)
Texas Industries, Inc.*		6,841		431,736
United States Lime & Minerals, Inc.*		41		2,181
				433,917
Containers & Packaging (0.1%)
AptarGroup, Inc.		1,000		57,350
Berry Plastics Group, Inc.*		5,120		97,536
Boise, Inc.		30,257		262,026
Graphic Packaging Holding Co.*		44,293		331,754
UFP Technologies, Inc.*		1,707		33,611
				782,277
Metals & Mining (1.5%)
A.M. Castle & Co.*		5,042		88,235
AK Steel Holding Corp.		33,856		112,063
AMCOL International Corp.		440		13,284
Century Aluminum Co.*		15,479		119,807
Coeur d’Alene Mines Corp.*		15,921		300,270
Dominion Diamond Corp.*		30,000		489,900
General Moly, Inc.*		17,795		39,327
Globe Specialty Metals, Inc.		17,243		240,023
Golden Minerals Co.*		9,787		23,293
Golden Star Resources Ltd.*		78,454		125,526
Handy & Harman Ltd.*		64		985
Haynes International, Inc.		660		36,498
Hecla Mining Co.		86,602		342,078
Horsehead Holding Corp.*		13,398		145,770
Inmet Mining Corp.		36,000		2,397,401
Kaiser Aluminum Corp.		5,834		377,168
Materion Corp.		5,643		160,826
McEwen Mining, Inc.*		265,019		757,954
Metals USA Holdings Corp.		2,625		54,206
Olympic Steel, Inc.		2,701		64,554
Reliance Steel & Aluminum Co.		36,500		2,597,705
Revett Minerals, Inc.*		6,651		15,164
RTI International Metals, Inc.*		9,163		290,376
Schnitzer Steel Industries, Inc., Class A		7,569		201,790
Steel Dynamics, Inc.		71,700		1,137,879
Stillwater Mining Co.*		34,993		452,460
SunCoke Energy, Inc.*		6,149		100,413
Universal Stainless & Alloy Products, Inc.*		2,043		74,263
Vista Gold Corp.*		17,760		38,362
Worthington Industries, Inc.		15,882		492,024
				11,289,604
Paper & Forest Products (0.3%)
Boise Cascade Co.*		2,341		79,454
Buckeye Technologies, Inc.		4,943		148,043
Clearwater Paper Corp.*		1,474		77,665
KapStone Paper and Packaging Corp.		12,251		340,578
Louisiana-Pacific Corp.*		41,570		897,912
Neenah Paper, Inc.		1,913		58,844
P.H. Glatfelter Co.		10,735		250,984

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Resolute Forest Products*		24,300	$	393,174
Schweitzer-Mauduit International, Inc.		2,440		94,501
Wausau Paper Corp.		684		7,373
				2,348,528
Total Materials				27,717,595
Telecommunication Services (0.8%)
Diversified Telecommunication Services (0.8%)
Cbeyond, Inc.*		7,843		58,274
Cincinnati Bell, Inc.*		38,813		126,530
Consolidated Communications Holdings, Inc.		4,788		84,029
Fairpoint Communications, Inc.*		962		7,186
Hawaiian Telcom Holdco, Inc.*		3,222		74,332
IDT Corp., Class B		739		8,912
inContact, Inc.*		745		6,027
Iridium Communications, Inc.*		12,620		75,972
magicJack VocalTec Ltd.*		1,461		20,454
Neutral Tandem, Inc.		8,913		29,146
ORBCOMM, Inc.*		5,812		30,281
Premiere Global Services, Inc.*		451,592		4,962,996
Vonage Holdings Corp.*		25,169		72,738
				5,556,877
Wireless Telecommunication Services (0.0%)
Leap Wireless International, Inc.*		11,755		69,237
Shenandoah Telecommunications Co.		7,314		111,392
USA Mobility, Inc.		6,751		89,586
				270,215
Total Telecommunication Services				5,827,092
Utilities (1.9%)
Electric Utilities (0.9%)
ALLETE, Inc.		11,588		568,044
Cleco Corp.		18,434		866,951
El Paso Electric Co.		12,011		404,170
Empire District Electric Co.		12,699		284,457
IDACORP, Inc.		15,140		730,808
MGE Energy, Inc.		7,018		389,078
NV Energy, Inc.		32,500		650,975
Otter Tail Corp.		10,341		322,019
PNM Resources, Inc.		23,996		558,867
Portland General Electric Co.		22,864		693,465
UIL Holdings Corp.		15,379		608,855
Unitil Corp.		4,080		114,770
UNS Energy Corp.		12,227		598,389
				6,790,848
Gas Utilities (0.5%)
Chesapeake Utilities Corp.		2,964		145,384
Delta Natural Gas Co., Inc.		1,985		43,392
Laclede Group, Inc.		6,875		293,562
New Jersey Resources Corp.		12,643		567,039
Northwest Natural Gas Co.		8,172		358,097
Piedmont Natural Gas Co., Inc.		21,051		692,157
South Jersey Industries, Inc.		7,242		402,583
Southwest Gas Corp.		13,989		663,918
WGL Holdings, Inc.		15,703		692,502
				3,858,634
Independent Power Producers & Energy Traders (0.1%)
Atlantic Power Corp.		32,893		162,162
Genie Energy Ltd., Class B		3,961		36,679
Ormat Technologies, Inc.		3,612		74,588
				273,429
Multi-Utilities (0.3%)
Avista Corp.		17,797		487,638
Black Hills Corp.		13,356		588,198
CH Energy Group, Inc.		4,456		291,378
NorthWestern Corp.		11,074		441,410
				1,808,624
Water Utilities (0.1%)
American States Water Co.		5,186		298,558
Artesian Resources Corp., Class A		2,261		50,805
Cadiz, Inc.*		352		2,380
California Water Service Group		6,522		129,788
Connecticut Water Service, Inc.		954		27,885
Consolidated Water Co., Ltd.		3,941		39,016
Middlesex Water Co.		4,688		91,510
SJW Corp.		2,897		76,770
York Water Co.		656		12,333
				729,045
Total Utilities				13,460,580
Total Common Stocks (80.5%) (Cost $ 426,324,693)				585,292,553
INVESTMENT COMPANIES:
Exchange Traded Funds (ETFs)(0.4%)
JZ Capital Partners Ltd.		93,000		751,763
RIT Capital Partners plc		98,400		1,812,108
				2,563,871
Investment Company (0.0%)
Firsthand Technology Value Fund, Inc.*		2,536		48,920
Total Investment Companies (0.4%) (Cost $ 2,769,865)				2,612,791
Total Investments (80.9%) (Cost $ 429,094,558)				587,905,344
Other Assets Less Liabilities (19.1%)				138,937,494
Net Assets (100%)			$	726,842,838

* Non-income producing.

† Securities (totaling $114 or 0.0% of net assets) at fair value by management.

‡ Affiliated company as defined under the Investment Company Act of 1940.

(b) Illiquid Security.

Glossary:

ADR — American Depositary Receipt

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
Vitran Corp., Inc.	$	4,495,500	$	282,754	$	—	$	5,936,400	$	—	$	—

At March 31, 2013, the Portfolio had the following futures contracts open: (Note 1)

Purchase	Number of Contracts		Expiration Date		Original Value		Value at 3/31/2013		Unrealized Appreciation/ (Depreciation)
Russell 2000 Mini Index		1,387		June-13	$	128,063,826	$	131,612,430	$	3,548,604

See Notes to Portfolio of Investments.

180

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) (a)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	123,335,216	$	7,534	$	—	$	123,342,750
Consumer Staples		14,430,802		22,898		—		14,453,700
Energy		55,928,110		—		—		55,928,110
Financials		158,726,337		8,595,318		—		167,321,655
Health Care		17,794,289		—		—		17,794,289
Industrials		128,275,825		—		—		128,275,825
Information Technology		31,170,843		—		114		31,170,957
Materials		27,717,595		—		—		27,717,595
Telecommunication Services		5,827,092		—		—		5,827,092
Utilities		13,460,580		—		—		13,460,580
Futures		3,548,604		—		—		3,548,604
Investment Companies
Exchange Traded Funds (ETFs)		—		2,563,871		—		2,563,871
Investment Companies		48,920		—		—		48,920
Total Assets	$	580,264,213	$	11,189,621	$	114	$	591,453,948
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	580,264,213	$	11,189,621	$	114	$	591,453,948

(a) Securities with a market value of $5,740,930 transferred from Level 1 to Level 2 since the beginning of the period due to inactive trading.

Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value:

	Investments in Common  Stocks- Information Technology
Balance as of 12/31/12	$	114
Total gains or losses (realized/unrealized) included in earnings		—
Purchases		—
Sales		—
Issuances		—
Settlements		—
Transfers into Level 3		—
Transfers out of Level 3		—
Balance as of 3/31/13	$	114
The amount of total gains or losses for the period included in earnings attributable to the change in unrealized gains or losses relating to assets and liabilities still held at period ending 3/31/13.	$	—

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	9,354,407
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	17,464,688

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	189,719,305
Aggregate gross unrealized depreciation		(32,029,921	)
Net unrealized appreciation	$	157,689,384
Federal income tax cost of investments	$	430,215,960

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
COMMON STOCKS:
Consumer Discretionary (5.7%)
Automobiles (0.5%)
Tesla Motors, Inc.*		82,332	$	3,119,559
Household Durables (0.1%)
iRobot Corp.*		11,700		300,222
Internet & Catalog Retail (5.0%)
Amazon.com, Inc.*		68,705		18,309,195
Expedia, Inc.		19,463		1,167,975
Groupon, Inc.*		18,104		110,796
HomeAway, Inc.*		2,109		68,543
Netflix, Inc.*		8,955		1,696,167
priceline.com, Inc.*		13,825		9,510,632
Shutterfly, Inc.*		2,000		88,340
TripAdvisor, Inc.*		7,276		382,136
Vipshop Holdings Ltd. (ADR)*		16,514		501,530
				31,835,314
Media (0.1%)
Pandora Media, Inc.*		54,520		772,003
Time Warner, Inc.		2,800		161,336
				933,339
Total Consumer Discretionary				36,188,434
Health Care (0.1%)
Health Care Technology (0.1%)
M3, Inc.		371		722,412
Total Health Care				722,412
Industrials (0.7%)
Construction & Engineering (0.6%)
Quanta Services, Inc.*		131,115		3,747,267
Professional Services (0.1%)
Huron Consulting Group, Inc.*		22,025		888,048
Total Industrials				4,635,315
Information Technology (71.2%)
Communications Equipment (8.9%)
Acme Packet, Inc.*		3,812		111,387
ADTRAN, Inc.		4,100		80,565
Arris Group, Inc.*		7,700		132,209
Aruba Networks, Inc.*		34,855		862,313
Brocade Communications Systems, Inc.*		30,100		173,677
Ciena Corp.*		6,600		105,666
Cisco Systems, Inc.		1,131,290		23,655,274
EchoStar Corp., Class A*		2,600		101,322
Emulex Corp.*		6,100		39,833
F5 Networks, Inc.*		5,200		463,216
Finisar Corp.*		5,900		77,821
Harris Corp.		7,400		342,916
Infinera Corp.*		8,000		56,000
InterDigital, Inc.		2,800		133,924
Ixia*		3,500		75,740
JDS Uniphase Corp.*		39,200		524,104
Juniper Networks, Inc.*		89,790		1,664,706
Loral Space & Communications, Inc.		900		55,692
Motorola Solutions, Inc.		57,602		3,688,256
NETGEAR, Inc.*		2,600		87,126
Palo Alto Networks, Inc.*		31,790		1,799,314
Plantronics, Inc.		2,800		123,732
Polycom, Inc.*		11,962		132,539
QUALCOMM, Inc.		253,325		16,960,109
Research In Motion Ltd.*		27,240		393,618
Riverbed Technology, Inc.*		10,928		162,936
Telefonaktiebolaget LM Ericsson (ADR)		347,380		4,376,988
Tellabs, Inc.		22,300		46,607
ViaSat, Inc.*		2,700		130,788
				56,558,378
Computers & Peripherals (9.7%)
3D Systems Corp.*		5,100		164,424
Advantech Co., Ltd.		82,000		355,121
Apple, Inc.		63,246		27,994,577
Asustek Computer, Inc.		232,000		2,758,164
Dell, Inc.		96,800		1,387,144
Diebold, Inc.		4,300		130,376
Electronics for Imaging, Inc.*		3,100		78,616
EMC Corp.*		229,190		5,475,349
Fusion-io, Inc.*		158,038		2,587,082
Hewlett-Packard Co.		129,100		3,077,744
Lenovo Group Ltd.		1,946,000		1,932,826
Lexmark International, Inc., Class A		4,000		105,600
NCR Corp.*		10,800		297,648
NEC Corp.		384,000		1,019,812
NetApp, Inc.*		59,628		2,036,892
QLogic Corp.*		6,100		70,760
SanDisk Corp.*		147,520		8,113,600
Seagate Technology plc		49,830		1,821,785
Synaptics, Inc.*		2,000		81,380
Wacom Co., Ltd.		137		529,022
Western Digital Corp.		26,035		1,309,040
				61,326,962
Electronic Equipment, Instruments & Components (1.8%)
Aeroflex Holding Corp.*		1,423		11,185
Amphenol Corp., Class A		10,607		791,813
Anixter International, Inc.		1,800		125,856
Anritsu Corp.		32,500		506,480
Arrow Electronics, Inc.*		7,100		288,402
Avnet, Inc.*		9,100		329,420
AVX Corp.		2,800		33,320
Benchmark Electronics, Inc.*		3,500		63,070
Celestica, Inc.*		11,100		89,799
Cognex Corp.		2,700		113,805
Coherent, Inc.		1,600		90,784
Corning, Inc.		97,600		1,301,008
Delta Electronics, Inc.		95,000		397,124
Dolby Laboratories, Inc., Class A		3,263		109,506
FEI Co.		2,500		161,375
FLIR Systems, Inc.		9,508		247,303
Hirose Electric Co., Ltd.		5,900		775,301
Hitachi Ltd.		53,000		307,410
Ingram Micro, Inc., Class A*		9,800		192,864
IPG Photonics Corp.		1,900		126,179
Itron, Inc.*		2,600		120,640
Jabil Circuit, Inc.		12,000		221,760
Keyence Corp.		2,400		734,265
Littelfuse, Inc.		1,500		101,775
Molex, Inc.		9,319		272,860
National Instruments Corp.		14,900		487,975
OSI Systems, Inc.*		1,300		80,977

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Plexus Corp.*		2,200	$	53,482
RealD, Inc.*		3,000		39,000
Rofin-Sinar Technologies, Inc.*		2,000		54,180
Sanmina Corp.*		5,500		62,480
SYNNEX Corp.*		1,800		66,600
TE Connectivity Ltd.		27,854		1,167,918
Tech Data Corp.*		2,500		114,025
TPK Holding Co., Ltd.		23,000		456,885
Trimble Navigation Ltd.*		16,800		503,328
TTM Technologies, Inc.*		3,900		29,640
Universal Display Corp.*		2,700		79,353
Vishay Intertechnology, Inc.*		8,500		115,685
WPG Holdings Ltd.		544,000		616,724
				11,441,556
Internet Software & Services (11.6%)
Akamai Technologies, Inc.*		11,700		412,893
AOL, Inc.*		5,149		198,185
Bankrate, Inc.*		2,983		35,617
Cornerstone OnDemand, Inc.*		2,066		70,451
CoStar Group, Inc.*		1,800		197,028
Dealertrack Technologies, Inc.*		2,800		82,264
Digital River, Inc.*		2,100		29,694
EarthLink, Inc.		6,300		34,146
eBay, Inc.*		285,300		15,468,966
Equinix, Inc.*		9,060		1,959,769
ExactTarget, Inc.*		1,487		34,603
Facebook, Inc., Class A*		100,083		2,560,123
Google, Inc., Class A*		38,173		30,310,507
IAC/InterActiveCorp		5,100		227,868
j2 Global, Inc.		2,900		113,709
Kakaku.com, Inc.		54,800		1,378,514
LinkedIn Corp., Class A*		26,137		4,601,680
Liquidity Services, Inc.*		1,600		47,696
LogMeIn, Inc.*		1,600		30,752
Monster Worldwide, Inc.*		7,500		38,025
NetEase, Inc. (ADR)		78,285		4,287,670
Open Text Corp.*		3,828		225,967
OpenTable, Inc.*		1,500		94,470
Phoenix New Media Ltd. (ADR)*		34,671		144,231
Qihoo 360 Technology Co., Ltd. (ADR)*		60,205		1,783,874
Rackspace Hosting, Inc.*		7,300		368,504
Renren, Inc. (ADR)*		878		2,537
ValueClick, Inc.*		4,600		135,930
VeriSign, Inc.*		10,100		477,528
WebMD Health Corp.*		3,267		79,453
Xoom Corp.*		600		13,704
Yahoo!, Inc.*		270,710		6,369,806
Yandex N.V., Class A*		61,605		1,424,308
Yelp, Inc.*		955		22,643
				73,263,115
IT Services (12.1%)
Accenture plc, Class A		62,688		4,762,407
Acxiom Corp.*		4,700		95,880
Alliance Data Systems Corp.*		11,634		1,883,428
Automatic Data Processing, Inc.		53,786		3,497,166
Booz Allen Hamilton Holding Corp.		2,565		34,474
Broadridge Financial Solutions, Inc.		7,900		196,236
CACI International, Inc., Class A*		1,600		92,592
Cardtronics, Inc.*		3,000		82,380
Cognizant Technology Solutions Corp., Class A*		76,778		5,881,963
Computer Sciences Corp.		58,230		2,866,663
Convergys Corp.		6,800		115,804
CoreLogic, Inc.*		6,500		168,090
DST Systems, Inc.		2,000		142,540
Euronet Worldwide, Inc.*		3,100		81,654
ExlService Holdings, Inc.*		11,179		367,566
Fidelity National Information Services, Inc.		19,350		766,647
Fiserv, Inc.*		24,505		2,152,274
FleetCor Technologies, Inc.*		4,557		349,385
Gartner, Inc.*		6,200		337,342
Genpact Ltd.		81,474		1,482,012
Global Payments, Inc.		5,300		263,198
Heartland Payment Systems, Inc.		2,500		82,425
iGATE Corp.*		2,200		41,382
International Business Machines Corp.		101,841		21,722,685
Jack Henry & Associates, Inc.		5,800		268,018
Lender Processing Services, Inc.		5,700		145,122
ManTech International Corp., Class A		1,700		45,679
Mastercard, Inc., Class A		12,696		6,870,186
MAXIMUS, Inc.		2,300		183,931
NeuStar, Inc., Class A*		4,354		202,592
Pactera Technology International Ltd. (ADR)*		32,833		210,788
Paychex, Inc.		21,400		750,498
SAIC, Inc.		18,500		250,675
Sapient Corp.*		7,300		88,987
Syntel, Inc.		1,100		74,272
TeleTech Holdings, Inc.*		1,600		33,936
Teradata Corp.*		32,254		1,887,182
Total System Services, Inc.		10,600		262,668
Unisys Corp.*		2,700		61,425
Vantiv, Inc., Class A*		6,812		161,717
VeriFone Systems, Inc.*		7,100		146,828
Visa, Inc., Class A		91,160		15,482,614
Western Union Co.		118,960		1,789,158
WEX, Inc.*		2,523		198,055
				76,580,524
Office Electronics (0.1%)
Xerox Corp.		80,954		696,205
Zebra Technologies Corp., Class A*		3,400		160,242
				856,447
Semiconductors & Semiconductor Equipment (12.5%)
Advanced Micro Devices, Inc.*		40,700		103,785
Altera Corp.		21,200		751,964
Amkor Technology, Inc.*		4,455		17,820
Analog Devices, Inc.		89,740		4,172,013
Applied Materials, Inc.		434,080		5,851,398
ASM Pacific Technology Ltd.		33,700		370,318
ASML Holding N.V		10,849		737,840
Atmel Corp.*		29,200		203,232
Avago Technologies Ltd.		54,930		1,973,086
Broadcom Corp., Class A		34,700		1,203,049
Cabot Microelectronics Corp.*		1,600		55,600
Cavium, Inc.*		3,200		124,192
Cirrus Logic, Inc.*		4,400		100,100
Cree, Inc.*		7,645		418,258
Cymer, Inc.*		2,100		201,810
Cypress Semiconductor Corp.*		37,426		412,809

See Notes to Portfolio of Investments.

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
Diodes, Inc.*		2,200	$	46,156
Entegris, Inc.*		9,200		90,712
Fairchild Semiconductor International, Inc.*		8,600		121,604
First Solar, Inc.*		3,900		105,144
Freescale Semiconductor Ltd.*		148,146		2,205,894
Hittite Microwave Corp.*		1,700		102,952
Integrated Device Technology, Inc.*		10,300		76,941
Intel Corp.		455,900		9,961,415
International Rectifier Corp.*		28,850		610,177
Intersil Corp., Class A		8,900		77,519
KLA-Tencor Corp.		36,195		1,908,924
Lam Research Corp.*		95,070		3,941,602
Linear Technology Corp.		15,300		587,061
LSI Corp.*		37,000		250,860
Marvell Technology Group Ltd.		75,330		796,991
Maxim Integrated Products, Inc.		99,920		3,262,388
MediaTek, Inc.		328,000		3,729,454
Micrel, Inc.		2,700		28,377
Microchip Technology, Inc.		96,700		3,554,692
Micron Technology, Inc.*		728,600		7,271,428
Microsemi Corp.*		6,000		139,020
MKS Instruments, Inc.		3,500		95,200
NVIDIA Corp.		41,200		528,184
NXP Semiconductor N.V.*		73,245		2,216,394
OmniVision Technologies, Inc.*		3,868		53,301
ON Semiconductor Corp.*		304,871		2,524,332
PMC-Sierra, Inc.*		13,000		88,270
Power Integrations, Inc.		1,900		82,479
Rambus, Inc.*		7,400		41,514
RF Micro Devices, Inc.*		122,600		652,232
Samsung Electronics Co., Ltd.		1,906		2,586,788
Semtech Corp.*		4,300		152,177
Silicon Laboratories, Inc.*		2,600		107,536
SK Hynix Inc.*		19,000		499,506
Skyworks Solutions, Inc.*		35,120		773,694
Spansion, Inc., Class A*		2,700		34,749
SunPower Corp.*		1,731		19,976
Taiwan Semiconductor Manufacturing Co., Ltd.		358,000		1,197,224
Teradyne, Inc.*		12,600		204,372
Tessera Technologies, Inc.		3,600		67,500
Texas Instruments, Inc.		146,575		5,200,481
Tokyo Electron Ltd.		24,000		1,017,262
TriQuint Semiconductor, Inc.*		10,400		52,520
Veeco Instruments, Inc.*		2,500		95,825
Xilinx, Inc.		142,235		5,429,110
				79,287,211
Software (14.5%)
ACI Worldwide, Inc.*		2,600		127,036
Activision Blizzard, Inc.		106,877		1,557,198
Adobe Systems, Inc.*		85,225		3,708,140
Advent Software, Inc.*		2,000		55,940
ANSYS, Inc.*		6,100		496,662
Aspen Technology, Inc.*		136,918		4,421,082
Autodesk, Inc.*		14,800		610,352
Blackbaud, Inc.		2,900		85,927
BMC Software, Inc.*		8,700		403,071
BroadSoft, Inc.*		1,733		45,873
CA, Inc.		22,000		553,740
Cadence Design Systems, Inc.*		86,600		1,206,338
Citrix Systems, Inc.*		22,521		1,625,115
CommVault Systems, Inc.*		2,800		229,544
Compuware Corp.*		14,200		177,500
Comverse, Inc.*		1,340		37,574
Concur Technologies, Inc.*		3,000		205,980
Electronic Arts, Inc.*		19,800		350,460
FactSet Research Systems, Inc.		2,700		250,020
Fair Isaac Corp.		2,300		105,087
Fortinet, Inc.*		195,775		4,635,952
Guidewire Software, Inc.*		1,896		72,882
Informatica Corp.*		7,200		248,184
Intuit, Inc.		80,200		5,265,130
Jive Software, Inc.*		1,812		27,542
Manhattan Associates, Inc.*		1,300		96,577
Mentor Graphics Corp.		6,500		117,325
MICROS Systems, Inc.*		5,290		240,748
Microsoft Corp.		825,040		23,604,394
MicroStrategy, Inc., Class A*		3,505		354,285
NetScout Systems, Inc.*		2,400		58,968
NetSuite, Inc.*		1,900		152,114
Nuance Communications, Inc.*		16,800		339,024
Oracle Corp.		523,748		16,938,010
Pegasystems, Inc.		1,200		33,696
Progress Software Corp.*		3,804		86,655
PTC, Inc.*		7,800		198,822
QLIK Technologies, Inc.*		45,900		1,185,597
RealPage, Inc.*		2,600		53,846
Red Hat, Inc.*		32,470		1,641,683
Rovi Corp.*		7,027		150,448
Salesforce.com, Inc.*		62,796		11,229,809
SolarWinds, Inc.*		4,000		236,400
Solera Holdings, Inc.		4,469		260,677
Sourcefire, Inc.*		2,000		118,460
Splunk, Inc.*		29,315		1,173,480
SS&C Technologies Holdings, Inc.*		2,600		77,948
Symantec Corp.*		163,810		4,042,831
Synchronoss Technologies, Inc.*		1,900		58,957
Synopsys, Inc.*		10,100		362,388
Take-Two Interactive Software, Inc.*		6,100		98,515
TIBCO Software, Inc.*		10,300		208,266
TiVo, Inc.*		7,900		97,881
Tyler Technologies, Inc.*		1,800		110,268
Ultimate Software Group, Inc.*		1,800		187,488
Verint Systems, Inc.*		3,469		126,792
VirnetX Holding Corp.*		2,700		51,759
VMware, Inc., Class A*		5,700		449,616
Websense, Inc.*		2,600		39,000
Workday, Inc., Class A*		24,183		1,490,398
Zynga, Inc., Class A*		32,007		107,544
				92,282,998
Total Information Technology				451,597,191
Materials (0.4%)
Chemicals (0.4%)
Monsanto Co.		11,000		1,161,930
Nitto Denko Corp.		17,200		1,028,693
Total Materials				2,190,623
Total Common Stocks (78.1%) (Cost $362,185,673)				495,333,975

See Notes to Portfolio of Investments.

185

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
Exchange Traded Funds (ETFs)(20.6%)
iShares S&P North American Technology Sector Index Fund		308,250	$	22,385,115
Technology Select Sector SPDR Fund		2,098,800		63,530,676
Vanguard Information Technology Index ETF		610,000		44,469,000
Total Investment Companies (20.6%)
(Cost $91,870,219)				130,384,791
Total Investments (98.7%)
(Cost $454,055,892)				625,718,766
Other Assets Less Liabilities (1.3%)				8,541,070
Net Assets (100%)			$	634,259,836

* Non-income producing.

Glossary:

ADR — American Depositary Receipt

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Common Stocks
Consumer Discretionary	$	36,188,434	$	—	$	—	$	36,188,434
Health Care		—		722,412		—		722,412
Industrials		4,635,315		—		—		4,635,315
Information Technology		430,428,991		21,168,200		—		451,597,191
Materials		1,161,930		1,028,693		—		2,190,623
Investment Companies
Exchange Traded Funds (ETFs)		130,384,791		—		—		130,384,791
Total Assets	$	602,799,461	$	22,919,305	$	—	$	625,718,766
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	602,799,461	$	22,919,305	$	—	$	625,718,766

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

See Notes to Portfolio of Investments.

186

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PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	117,065,565
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	140,446,557

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	164,474,434
Aggregate gross unrealized depreciation		(10,458,759	)
Net unrealized appreciation	$	154,015,675
Federal income tax cost of investments	$	471,703,091

See Notes to Portfolio of Investments.

187

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TARGET 2015 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
EQ/Core Bond Index Portfolio‡		980,724	$	9,962,854
EQ/Equity 500 Index Portfolio‡		516,637		14,171,775
EQ/Global Bond PLUS Portfolio‡		621,226		6,085,606
EQ/Global Multi-Sector Equity Portfolio‡		828,115		10,841,305
EQ/International ETF Portfolio‡ .		1,532,848		10,110,119
EQ/PIMCO Ultra Short Bond Portfolio‡		506,086		5,052,938
EQ/Small Company Index Portfolio‡		243,595		2,651,223
Multimanager Aggressive Equity Portfolio‡		75,022		2,400,652
Multimanager Large Cap Value Portfolio‡		254,644		2,972,625
Multimanager Mid Cap Growth Portfolio*‡		141,121		1,569,832
Multimanager Mid Cap Value Portfolio‡		201,057		2,280,719
Multimanager Multi-Sector Bond Portfolio‡		2,986,354		12,123,681
Total Investments (100.3%) (Cost $66,995,168)				80,223,329
Other Assets Less Liabilities (-0.3%)				(241,113	)
Net Assets (100%)			$	79,982,216

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
EQ/Core Bond Index Portfolio	$	9,184,814	$	1,111,152	$	345,321	$	9,962,854	$	—	$	(39	)
EQ/Equity 500 Index Portfolio		12,895,388		567,524		625,428		14,171,775		—		17,159
EQ/Global Bond PLUS Portfolio		5,724,485		621,113		211,387		6,085,606		—		10
EQ/Global Multi-Sector Equity Portfolio		10,626,716		398,004		744,988		10,841,305		—		35,527
EQ/International ETF Portfolio		10,518,704		398,004		1,179,002		10,110,119		—		1,513
EQ/PIMCO Ultra Short Bond Portfolio		4,685,410		549,002		190,253		5,052,938		—		4
EQ/Small Company Index Portfolio		2,361,139		88,445		84,185		2,651,223		—		374
Multimanager Aggressive Equity Portfolio		2,183,883		103,186		96,721		2,400,652		—		1,932
Multimanager Large Cap Value Portfolio		3,115,402		95,816		593,271		2,972,625		—		(1,665	)
Multimanager Mid Cap Growth Portfolio		1,392,789		29,482		27,480		1,569,832		—		706
Multimanager Mid Cap Value Portfolio		2,459,992		81,075		489,482		2,280,719		—		88,031
Multimanager Multi-Sector Bond Portfolio		11,241,994		1,205,375		387,560		12,123,681		—		2
	$	76,390,716	$	5,248,178	$	4,975,078	$	80,223,329	$	—	$	143,554

See Notes to Portfolio of Investments.

188

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TARGET 2015 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	80,223,329	$	—	$	80,223,329
Total Assets	$	—	$	80,223,329	$	—	$	80,223,329
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	80,223,329	$	—	$	80,223,329

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	5,248,178
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	5,118,632

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	13,350,642
Aggregate gross unrealized depreciation		(252,072	)
Net unrealized appreciation	$	13,098,570
Federal income tax cost of investments	$	67,124,759

See Notes to Portfolio of Investments.

189

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TARGET 2025 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
EQ/Core Bond Index Portfolio‡		803,136	$	8,158,798
EQ/Equity 500 Index Portfolio‡		1,115,611		30,602,100
EQ/Global Bond PLUS Portfolio‡		523,698		5,130,207
EQ/Global Multi-Sector Equity Portfolio‡		1,285,196		16,825,185
EQ/International ETF Portfolio‡ .		2,479,610		16,354,626
EQ/PIMCO Ultra Short Bond Portfolio‡		425,369		4,247,036
EQ/Small Company Index Portfolio‡		600,978		6,540,890
Multimanager Aggressive Equity Portfolio‡		96,884		3,100,222
Multimanager Large Cap Value Portfolio‡		258,852		3,021,747
Multimanager Mid Cap Growth Portfolio*‡		92,592		1,029,993
Multimanager Mid Cap Value Portfolio‡		293,712		3,331,767
Multimanager Multi-Sector Bond Portfolio‡		2,386,506		9,688,483
Total Investments (100.6%) (Cost $92,133,505)				108,031,054
Other Assets Less Liabilities (-0.6%)				(593,918	)
Net Assets (100%)			$	107,437,136

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
EQ/Core Bond Index Portfolio	$	7,442,793	$	936,358	$	230,497	$	8,158,798	$	—	$	46
EQ/Equity 500 Index Portfolio		27,678,550		1,015,465		987,738		30,602,100		—		2,740
EQ/Global Bond PLUS Portfolio		4,816,750		525,080		170,792		5,130,207		—		(20	)
EQ/Global Multi-Sector Equity Portfolio		16,296,669		551,503		931,844		16,825,185		—		6,088
EQ/International ETF Portfolio		16,943,265		551,503		1,733,658		16,354,626		—		4,274
EQ/PIMCO Ultra Short Bond Portfolio		3,886,042		498,818		145,132		4,247,036		—		24
EQ/Small Company Index Portfolio		5,832,809		183,834		180,061		6,540,890		—		(751	)
Multimanager Aggressive Equity Portfolio		2,967,967		113,802		229,722		3,100,222		—		31,280
Multimanager Large Cap Value Portfolio		2,879,512		105,048		299,419		3,021,747		—		3,044
Multimanager Mid Cap Growth Portfolio		914,332		26,262		24,789		1,029,993		—		827
Multimanager Mid Cap Value Portfolio		3,108,544		96,294		255,230		3,331,767		—		38,695
Multimanager Multi-Sector Bond Portfolio		8,880,139		1,047,637		290,104		9,688,483		—		208
	$	101,647,372	$	5,651,604	$	5,478,986	$	108,031,054	$	—	$	86,455

See Notes to Portfolio of Investments.

190

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TARGET 2025 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices  in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	108,031,054	$	—	$	108,031,054
Total Assets	$	—	$	108,031,054	$	—	$	108,031,054
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	108,031,054	$	—	$	108,031,054

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	5,651,604
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	5,565,441

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	17,284,111
Aggregate gross unrealized depreciation		(1,680,526	)
Net unrealized appreciation	$	15,603,585
Federal income tax cost of investments	$	92,427,469

See Notes to Portfolio of Investments.

191

AXA PREMIER VIP TRUST

TARGET 2035 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
EQ/Core Bond Index Portfolio‡		300,025	$	3,047,852
EQ/Equity 500 Index Portfolio‡		884,425		24,260,478
EQ/Global Bond PLUS Portfolio‡		191,418		1,875,151
EQ/Global Multi-Sector Equity Portfolio‡		918,757		12,027,944
EQ/International ETF Portfolio‡ .		1,784,173		11,767,771
EQ/PIMCO Ultra Short Bond Portfolio‡		152,385		1,521,469
EQ/Small Company Index Portfolio‡		498,016		5,420,274
Multimanager Aggressive Equity Portfolio‡		34,355		1,099,345
Multimanager Large Cap Value Portfolio‡		144,469		1,686,484
Multimanager Mid Cap Growth Portfolio*‡		57,262		636,987
Multimanager Mid Cap Value Portfolio‡		124,696		1,414,513
Multimanager Multi-Sector Bond Portfolio‡		933,563		3,789,981
Total Investments (99.9%) (Cost $56,087,114)				68,548,249
Other Assets Less Liabilities (0.1%)				45,138
Net Assets (100%)			$	68,593,387

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

See Notes to Portfolio of Investments.

192

AXA PREMIER VIP TRUST

TARGET 2035 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
EQ/Core Bond Index Portfolio	$	2,581,558	$	495,874	$	33,625	$	3,047,852	$	—	$	(7	)
EQ/Equity 500 Index Portfolio		21,749,249		620,145		392,703		24,260,478		—		1,452
EQ/Global Bond PLUS Portfolio		1,739,400		173,726		23,111		1,875,151		—		1
EQ/Global Multi-Sector Equity Portfolio		11,222,410		314,502		148,890		12,027,944		—		289
EQ/International ETF Portfolio		11,879,361		314,502		837,574		11,767,771		—		11,605
EQ/PIMCO Ultra Short Bond Portfolio		1,370,590		169,296		21,010		1,521,469		—		1
EQ/Small Company Index Portfolio		4,780,337		115,170		54,234		5,420,274		—		395
Multimanager Aggressive Equity Portfolio		976,092		53,155		25,007		1,099,345		—		206
Multimanager Large Cap Value Portfolio		1,667,238		48,725		191,504		1,686,484		—		31,608
Multimanager Mid Cap Growth Portfolio		559,336		13,289		6,099		636,987		—		205
Multimanager Mid Cap Value Portfolio		1,312,603		44,296		104,970		1,414,513		—		16,041
Multimanager Multi-Sector Bond Portfolio		3,300,905		509,162		39,918		3,789,981		—		3
	$	63,139,079	$	2,871,842	$	1,878,645	$	68,548,249	$	—	$	61,799

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	68,548,249	$	—	$	68,548,249
Total Assets	$	—	$	68,548,249	$	—	$	68,548,249
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	68,548,249	$	—	$	68,548,249

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	2,871,842
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	1,940,444

See Notes to Portfolio of Investments.

193

AXA PREMIER VIP TRUST

TARGET 2035 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	12,839,517
Aggregate gross unrealized depreciation		(444,072	)
Net unrealized appreciation	$	12,395,445
Federal income tax cost of investments	$	56,152,804

See Notes to Portfolio of Investments.

194

AXA PREMIER VIP TRUST

TARGET 2045 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

	Number of Shares		Value (Note 1)
INVESTMENT COMPANIES:
EQ/Core Bond Index Portfolio‡		110,361	$	1,121,121
EQ/Equity 500 Index Portfolio‡		609,540		16,720,165
EQ/Global Multi-Sector Equity Portfolio‡		619,501		8,110,216
EQ/International ETF Portfolio‡ .		1,246,947		8,224,416
EQ/PIMCO Ultra Short Bond Portfolio‡		27,683		276,396
EQ/Small Company Index Portfolio‡		352,236		3,833,650
Multimanager Aggressive Equity Portfolio‡		10,020		320,624
Multimanager Large Cap Value Portfolio‡		87,040		1,016,070
Multimanager Mid Cap Growth Portfolio*‡		33,954		377,708
Multimanager Mid Cap Value Portfolio‡		94,999		1,077,637
Multimanager Multi-Sector Bond Portfolio‡		182,129		739,386
Total Investments (99.8%) (Cost $33,929,721)				41,817,389
Other Assets Less Liabilities (0.2%)				76,636
Net Assets (100%)			$	41,894,025

* Non-income producing.

‡ Affiliated company as defined under the Investment Company Act of 1940.

The holdings in affiliated Investment Companies are all Class K shares.

Investments in companies which were affiliates for the three months ended March 31, 2013, were as follows:

Securities	Market Value December 31, 2012		Purchases at Cost		Sales at Cost		Market Value March 31, 2013		Dividend Income		Realized Gain (Loss)
EQ/Core Bond Index Portfolio	$	989,725	$	141,916	$	11,871	$	1,121,121	$	—	$	(2	)
EQ/Equity 500 Index Portfolio		14,683,094		670,660		189,683		16,720,165		—		219
EQ/Global Multi-Sector Equity Portfolio		7,443,181		335,330		94,944		8,110,216		—		6
EQ/International ETF Portfolio		7,897,629		335,330		293,747		8,224,416		—		1,204
EQ/PIMCO Ultra Short Bond Portfolio		175,961		100,000		—		276,396		—		—
EQ/Small Company Index Portfolio		3,334,333		129,941		36,796		3,833,650		—		(3	)
Multimanager Aggressive Equity Portfolio		264,058		41,916		11,842		320,624		—		27
Multimanager Large Cap Value Portfolio		975,176		41,916		102,770		1,016,070		—		9,098
Multimanager Mid Cap Growth Portfolio		329,911		8,383		2,371		377,708		—		3
Multimanager Mid Cap Value Portfolio		923,758		37,725		10,683		1,077,637		—		(1	)
Multimanager Multi-Sector Bond Portfolio		611,574		133,533		9,493		739,386		—		2
	$	37,628,400	$	1,976,650	$	764,200	$	41,817,389	$	—	$	10,553

See Notes to Portfolio of Investments.

195

AXA PREMIER VIP TRUST

TARGET 2045 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

The following is a summary of the inputs used to value the Portfolio’s assets and liabilities carried at fair value as of March 31, 2013:

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below:

Investment Type	Level 1 Quoted prices in active markets for identical securities		Level 2 Significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)		Level 3 Significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)		Total
Assets:
Investment Companies
Investment Companies	$	—	$	41,817,389	$	—	$	41,817,389
Total Assets	$	—	$	41,817,389	$	—	$	41,817,389
Total Liabilities	$	—	$	—	$	—	$	—
Total	$	—	$	41,817,389	$	—	$	41,817,389

There were no transfers between Level 1 and 2 during the three months ended March 31, 2013.

Investment security transactions for the three months ended March 31, 2013 were as follows:

Cost of Purchases:
Long-term investments other than U.S. government debt securities	$	1,976,650
Net Proceeds of Sales and Redemptions:
Long-term investments other than U.S. government debt securities	$	774,753

As of March 31, 2013, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments for Federal income tax purposes was as follows:

Aggregate gross unrealized appreciation	$	8,096,450
Aggregate gross unrealized depreciation		(230,220	)
Net unrealized appreciation	$	7,866,230
Federal income tax cost of investments	$	33,951,159

See Notes to Portfolio of Investments.

196

AXA PREMIER VIP TRUST

NOTES TO PORTFOLIO OF INVESTMENTS

March 31, 2013 (Unaudited)

Note 1 Valuation:

If market quotations are not readily available for a security or other financial instruments, such securities or instruments shall be referred to the Trust’s Valuation Committee (“Committee”), who will value the assets in good faith pursuant to procedures adopted by the Board of Trustees (“Pricing Procedures”) of the Trust (the “Board”).

The Board is responsible for ensuring that appropriate valuation methods are used to price securities for the Trust’s Portfolios. The Board has delegated the responsibility of calculating the NAVs of the Trust’s Portfolios and classes pursuant to these Pricing Procedures to the Trust’s administrator, AXA Equitable Funds Management Group, LLC (“AXA FMG”) (in its capacity as administrator, the “Administrator”). The Administrator has entered into a sub-administration agreement with JPMorgan Investor Services Co. (the “Sub- Administrator”) to assist in performing certain of the duties described herein. The Committee, established by the Board, determines the value of the Trust’s securities and assets for which market quotations are not readily available or for which valuation cannot otherwise be provided in accordance with procedures adopted by the Board. The Committee is comprised of senior employees from AXA FMG.

Due to the inherent uncertainty of valuations of such securities, the fair value may differ significantly from the values that would have been used had a ready market for such securities existed.

Various inputs are used in determining the value of the Trust’s assets or liabilities carried at fair value. These inputs are summarized in three broad levels below:

• Level 1 - quoted prices in active markets for identical assets

• Level 2 - other significant observable inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 - significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)

Changes in valuation techniques may result in transfers into or out of an investment’s assigned level. Transfers into, or out of, each level are reported using values as of the beginning of the year.

Transfers into, or out of, Level 3 are due to a decline or increase in market activity (e.g., frequency of trades), which resulted in a lack of or increase in available market inputs to determine price. Level 3 transfers, if any, can be found in the Portfolio of Investments for each respective Portfolio.

The inputs or methodology used to value securities are not necessarily an indication of the risk associated with investing in those securities. An investment’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in aggregate, that is significant to the fair value measurement.

The Committee meets and reviews reports based on the valuation technique used to value each particular Level 3 security. In connection with this review, the Committee obtains, when available, updates from its pricing vendors and Advisers for each fair valued security. For example, with respect to model driven prices, the Committee receives a report regarding a review and recalculation of pricing models and related discounts. For securities valued based on broker quotes, the Committee evaluates variances between existing broker quotes and any alternative broker quotes provided by an Adviser or other pricing source.

To substantiate unobservable inputs used in fair valuation, the Secretary of the Committee performs an independent verification and additional research for all fair value notifications received from its pricing agent. Among other factors, particular areas of focus include: description of security, historical pricing, intra-day price movement, last trade information, corporate actions, related securities, any available company news and announcements, any available trade data and actions taken by other clients of the pricing vendor. The Committee also notes the materiality of holdings and price changes on portfolio NAV.

The Committee reviews and considers changes in value for all fair valued securities that have occurred since the last review.

197

AXA PREMIER VIP TRUST

NOTES TO PORTFOLIO OF INVESTMENTS (Continued)

March 31, 2013 (Unaudited)

The Portfolios’ policy is to recognize transfers into and transfers out of the valuation levels as of the beginning of the reporting period. Transfers between Level 1 and Level 2 are included after the Summary of Level 1, Level 2 and Level 3 inputs, following the Portfolio of Investments for each Portfolio. Transfers between levels may be due to a decline or an increase in market activity (e.g., frequency of trades), which may result in a lack of or increase in available market inputs to determine price. Transfers into and transfers out of Level 3 are included in the Level 3 reconciliation following the Portfolio of Investments for each Portfolio.

A summary of inputs used to value each Portfolio’s assets and liabilities carried at fair value as of March 31, 2013 is included in the Portfolio of Investments.

Accounting for Derivative Instruments:

Derivatives accounted for as hedging instruments must be disclosed separately from those that do not qualify for hedge accounting. Even though the Portfolios may use derivatives in an attempt to achieve an economic hedge, the Portfolio’s derivatives are not accounted for as hedging instruments because the Portfolios account for their derivatives at fair value and record any changes in fair value in current period earnings. All open derivative positions at period end are reflected on each respective Portfolio’s Portfolio of Investments.

For more information on each Portfolio’s policy regarding valuation of investments and other significant accounting policies, please refer to a Portfolio’s most recent semi-annual or annual report.

198

Item 2. Controls and Disclosures.

(a) The registrant’s certifying officers have evaluated the registrant’s disclosure controls and procedures as of a date within 90 days prior to the filing date of this report and have determined such controls and procedures to be reasonably designed to achieve the purposes described in Rule 30a-3(c) under the Investment Company Act of 1940.

(b) The registrant’s certifying officers are not aware of any changes in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

Certifications required by Item 3 are filed herewith.

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.

AXA Premier VIP Trust

By: /s/ Steven M. Joenk

Steven M. Joenk

Chairman of the Board, Trustee,

President and Chief Executive Officer

May 30, 2013

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.

By: /s/ Steven M. Joenk

Steven M. Joenk

Chairman of the Board, Trustee,

President and Chief Executive Officer

May 30, 2013

By: /s/ Brian Walsh

Brian Walsh

Chief Financial Officer and Treasurer

May 30, 2013