UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDING OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-03836

ANCHOR SERIES TRUST

(Exact name of registrant as specified in charter)

Harborside Financial Center,

Harborside 5, 185 Hudson Street, Suite 3300, Jersey City, N.J. 07311

(Address of principal executive offices)            (Zip code)

John T. Genoy

Senior Vice President

SunAmerica Asset Management, LLC

Harborside 5

185 Hudson Street, Suite 3300

Jersey City, NJ 07311

(Name and address of agent for service)

Registrant’s telephone number, including area code: (201) 324-6414

Date of fiscal year end: December 31

Date of reporting period: September 30, 2018

Item 1. Schedule of Investments.

Anchor Series Trust SA Wellington Government and Quality Bond Portfolio

PORTFOLIO OF INVESTMENTS - September 30, 2018 - (unaudited)

Security Description	Principal Amount		Value (Note 1)
ASSET BACKED SECURITIES - 9.3%
Diversified Financial Services - 9.3%
Ajax Mtg. Loan Trust VRS Series 2017-B, Class A 3.16% due 09/25/2056*(1)	$	4,910,261	$	4,791,401
Angel Oak Mtg. Trust I LLC VRS Series 2018-3, Class A1 3.65% due 09/25/2048*(1)(2)		4,692,739		4,698,235
Angel Oak Mtg. Trust LLC VRS Series 2017-3, Class A1 2.71% due 11/25/2047*(1)(2)		820,524		814,833
Apidos CLO XVI FRS Series 2013-16A, Class A1R 3.32% (3 ML + 0.98%) due 01/19/2025*(3)		3,536,642		3,534,835
Apidos CLO XXI FRS Series 2015-21A, Class A1R 3.26% (3 ML + 0.93%) due 07/18/2027*(3)		3,120,000		3,115,439
Apidos CLO XXII FRS Series 2015-22A, Class A1 3.85% (3 ML + 1.50%) due 10/20/2027*(3)		3,000,000		2,999,706
ARI Fleet Lease Trust Series 2018-A, Class A2 2.55% due 10/15/2026*		1,365,000		1,358,718
ARI Fleet Lease Trust Series 2018-B, Class A2 3.22% due 08/16/2027*		1,535,000		1,534,960
Bayview Koitere Fund Trust VRS Series 2017-RT4, Class A 3.50% due 07/28/2057*(1)		2,532,920		2,509,545
Benefit Street Partners, Ltd. FRS Series 2016-9A, Class AR 4.57% (3 ML + 1.11%) due 07/20/2031*(3)		795,000		793,747
Canadian Pacer Auto Receivables Trust Series 2017-1A, Class A3 2.05% due 03/19/2021*		1,335,000		1,325,233
Cent CLO, Ltd. FRS Series 2013-20A, Class AR 3.44% (3 ML + 1.10%) due 01/25/2026*(3)		3,780,142		3,779,413
Chesapeake Funding II LLC Series 2017-2A, Class A1 1.99% due 05/15/2029*		2,446,493		2,423,401
Chesapeake Funding II LLC Series 2017-4A, Class A1 2.12% due 11/15/2029*		4,802,144		4,744,770
Chesapeake Funding II LLC Series 2018-2A, Class A1 3.23% due 08/15/2030*		2,005,000		2,003,240
COLT Mtg. Loan Trust VRS Series 2018-1, Class A1 2.93% due 02/25/2048*(1)(2)		1,464,817		1,457,088
COLT Mtg. Loan Trust VRS Series 2018-3, Class A1 3.69% due 10/26/2048*(1)(2)		1,225,000		1,227,173
COMM Mtg. Trust Series 2012-CR2, Class A4 3.15% due 08/15/2045(4)		1,020,000		1,010,438
Deephaven Residential Mtg. Trust VRS Series 2017-3A, Class A1 2.58% due 10/25/2047*(1)(2)		927,545		919,261
Deephaven Residential Mtg. Trust VRS Series 2018-1A, Class A1 2.98% due 12/25/2057*(1)(2)		1,533,515		1,522,754
Enterprise Fleet Financing LLC Series 2017-3, Class A2 2.13% due 05/22/2023*		2,151,255		2,132,234
Enterprise Fleet Financing LLC Series 2018-1, Class A2 2.87% due 10/20/2023*		2,015,000		2,009,814
Finance of America Structured Securities Trust VRS Series 2017-HB1, Class A 2.32% due 11/25/2027*(1)		673,916		671,894
First Investors Auto Owner Trust Series 2017-3A, Class A1 2.00% due 03/15/2022*		1,538,281		1,529,701
First Investors Auto Owner Trust Series 2017-3A, Class A2 2.41% due 12/15/2022*		1,265,000		1,247,844
Ford Credit Floorplan Master Owner Trust Series 2013-2, Class A 2.09% due 03/15/2022*		590,000		581,229
GreatAmerica Leasing Receivables Funding LLC Series 2018-1, Class A3 2.60% due 06/15/2021*		1,290,000		1,278,178
GreatAmerica Leasing Receivables Funding LLC Series 2018-1, Class A4 2.83% due 06/17/2024*		820,000		809,012
Hyundai Auto Lease Securitization Trust Series 2018-A, Class A2A 2.55% due 08/17/2020*		4,655,000		4,648,396
KKR CLO 15, Ltd. FRS Series 15, Class A1A 3.89% (3 ML + 1.56%) due 10/18/2028*(3)		2,855,000		2,854,886
Madison Park Funding XI, Ltd. FRS Series 2013-11A, Class AR 3.51% (3 ML + 1.16%) due 07/23/2029*(3)		4,300,000		4,299,527
Madison Park Funding XXX, Ltd. FRS Series 2018-30A, Class A 3.09% (3 ML + 0.75%) due 04/15/2029*(3)		8,000,000		7,900,392
Magnetite VII, Ltd. FRS Series 2012-7A, Class A1R2 3.14% (3 ML + 0.80%) due 01/15/2028*(3)		5,535,000		5,491,351
Master Credit Card Trust FRS Series 2017-3, Class A 2.67% (1 ML + 0.49%) due 07/22/2024*		4,730,000		4,736,107

MetLife Securitization Trust VRS Series 2017-1A, Class A 3.00% due 04/25/2055*(1)(2)	1,573,225	1,528,078
Mill City Mtg. Loan Trust VRS Series 2016-1, Class A1 2.50% due 04/25/2057*(1)	663,205	647,592
Mill City Mtg. Loan Trust VRS Series 2017-3, Class A1 2.75% due 01/25/2061*(1)	1,856,510	1,813,268
MMAF Equipment Finance LLC Series 2017-B, Class A3 2.21% due 10/17/2022*	1,835,000	1,804,254
Nationstar HECM Loan Trust VRS Series 2017-2A, Class A1 2.04% due 09/25/2027*(1)	496,861	493,290
Nationstar HECM Loan Trust VRS Series 2018-1A, Class A 2.76% due 02/25/2028*(1)	900,676	900,559
OneMain Direct Auto Receivables Trust Series 2017-2A, Class A 2.31% due 12/14/2021*	1,960,000	1,949,507
OneMain Direct Auto Receivables Trust Series 2018-1A, Class A 3.43% due 12/16/2024*	3,815,000	3,809,516
Securitized Term Auto Receivables Trust Series 2016-1A, Class A3 1.52% due 03/25/2020*	1,502,686	1,496,763
Securitized Term Auto Receivables Trust Series 2017-2A, Class A3 2.04% due 04/26/2021*	1,130,000	1,116,063
SFAVE Commercial Mtg. Securities Trust VRS Series 2015-5AVE, Class A2B 4.14% due 01/05/2043*(1)(4)	2,340,000	2,217,633
Sofi Consumer Loan Program Trust Series 2018-2, Class A1 2.93% due 04/26/2027*	1,835,397	1,831,492
Sound Point CLO III-R, Ltd. FRS Series 2013-2RA, Class A1 3.30% (3 ML + 0.95%) due 04/15/2029*(3)	4,700,000	4,670,611
Sound Point CLO XII, Ltd. FRS Series 2016-2A, Class A 4.01% (3 ML + 1.66%) due 10/20/2028*(3)	2,865,000	2,864,476
Springleaf Funding Trust Series 2015-AA, Class A 3.16% due 11/15/2024*	1,028,704	1,028,744
Springleaf Funding Trust Series 2015-BA, Class A 3.48% due 05/15/2028*	1,070,000	1,068,119
Thacher Park CLO, Ltd. FRS Series 2014-1A, Class AR 3.51% (3 ML + 1.16%) due 10/20/2026*(3)	5,100,000	5,099,118
Towd Point Mtg. Trust VRS Series 2016-3, Class A1 2.25% due 04/25/2056*(1)	1,509,595	1,472,796
Towd Point Mtg. Trust VRS Series 2017-4, Class A1 2.75% due 06/25/2057*(1)	2,731,047	2,654,236
Towd Point Mtg. Trust VRS Series 2018-1, Class A1 3.00% due 01/25/2058*(1)	1,388,501	1,362,216
Utility Debt Securitization Authority Series 2013-T, Class T4 3.44% due 12/15/2025	1,695,000	1,695,254
Vantage Data Centers Issuer LLC Series 2018-1A, Class A2 4.07% due 02/16/2043*	1,675,171	1,676,141
Voya CLO, Ltd. FRS Series 2014-4A, Class A1RA 3.44% (3 ML + 1.10%) due 07/14/2031*(3)	7,240,000	7,236,315
Westlake Automobile Receivables Trust Series 2018-1A, Class A2A 2.24% due 12/15/2020*	3,853,664	3,841,546
Total Asset Backed Securities (cost $142,210,259)		141,032,342
U.S. CORPORATE BONDS & NOTES - 15.5%
Aerospace/Defense - 0.3%
General Dynamics Corp. Company Guar. Notes 2.88% due 05/11/2020	4,850,000	4,838,283
Airlines - 0.1%
Southwest Airlines Co. Pass Through Trust Pass-Through Certs. Series 2007-1, Class A 6.15% due 02/01/2024	1,430,822	1,507,457
Applications Software - 0.2%
Microsoft Corp. Senior Notes 2.40% due 08/08/2026	4,015,000	3,702,047
Auto-Cars/Light Trucks - 0.5%
Daimler Finance North America LLC Company Guar. Notes 2.25% due 07/31/2019*	190,000	188,957
Daimler Finance North America LLC Company Guar. Notes 2.30% due 02/12/2021*	2,910,000	2,834,108
Daimler Finance North America LLC Company Guar. Notes 3.88% due 09/15/2021*	210,000	211,732
Toyota Motor Credit Corp. Senior Notes 1.90% due 04/08/2021	3,680,000	3,565,005

Volkswagen Group of America Finance LLC Company Guar. Notes 2.45% due 11/20/2019*	795,000	787,580
		7,587,382
Banks-Commercial - 0.4%
BB&T Corp. Senior Notes 3.20% due 09/03/2021	3,580,000	3,558,797
Fifth Third Bank Senior Notes 2.88% due 10/01/2021	450,000	442,367
PNC Bank NA Senior Notes 2.60% due 07/21/2020	2,150,000	2,134,597
PNC Bank NA Senior Notes 3.30% due 10/30/2024	865,000	843,219
		6,978,980
Banks-Fiduciary - 0.5%
Bank of New York Mellon Corp. Senior Notes 2.15% due 02/24/2020	2,790,000	2,758,924
Bank of New York Mellon Corp. Senior Notes 2.20% due 08/16/2023	4,250,000	3,990,592
State Street Corp. Senior Notes 2.65% due 05/15/2023	1,495,000	1,447,644
		8,197,160
Banks-Super Regional - 1.0%
Huntington National Bank Senior Notes 2.20% due 04/01/2019	1,050,000	1,047,586
US Bancorp Sub. Notes 7.50% due 06/01/2026	400,000	482,814
Wells Fargo & Co. Senior Notes 2.50% due 03/04/2021	3,000,000	2,938,175
Wells Fargo & Co. Senior Notes 3.00% due 10/23/2026	1,780,000	1,651,750
Wells Fargo & Co. Senior Notes 3.07% due 01/24/2023	735,000	717,376
Wells Fargo & Co. Sub. Notes 3.45% due 02/13/2023	2,770,000	2,720,937
Wells Fargo & Co. Sub. Notes 4.65% due 11/04/2044	585,000	569,416
Wells Fargo Bank NA Senior Notes 2.15% due 12/06/2019	5,000,000	4,951,900
		15,079,954
Brewery - 0.8%
Anheuser-Busch InBev Finance, Inc. Company Guar. Notes 3.30% due 02/01/2023	5,100,000	5,042,187
Anheuser-Busch InBev Finance, Inc. Company Guar. Notes 3.65% due 02/01/2026	3,275,000	3,182,304
Anheuser-Busch InBev Worldwide, Inc. Company Guar. Notes 2.50% due 07/15/2022	1,640,000	1,583,482
Anheuser-Busch InBev Worldwide, Inc. Company Guar. Notes 3.50% due 01/12/2024	2,040,000	2,018,765
Anheuser-Busch InBev Worldwide, Inc. Company Guar. Notes 4.38% due 04/15/2038	400,000	384,923
		12,211,661
Cable/Satellite TV - 0.3%
Comcast Corp. Company Guar. Notes 3.00% due 02/01/2024	2,695,000	2,598,877
Comcast Corp. Company Guar. Notes 3.97% due 11/01/2047	674,000	601,549
Comcast Corp. Company Guar. Notes 4.25% due 01/15/2033	200,000	196,063
Comcast Corp. Company Guar. Notes 4.75% due 03/01/2044	939,000	936,555
		4,333,044
Cellular Telecom - 0.2%
Crown Castle Towers LLC Senior Sec. Notes 3.22% due 05/15/2042*	3,550,000	3,472,752
Computers - 0.2%
Apple, Inc. Senior Notes 3.25% due 02/23/2026	1,050,000	1,026,324
Apple, Inc. Senior Notes 3.45% due 05/06/2024	1,815,000	1,815,875
		2,842,199
Diversified Banking Institutions - 1.9%
Bank of America Corp. Senior Notes 3.00% due 12/20/2023	1,547,000	1,501,263
Bank of America Corp. Senior Notes 3.59% due 07/21/2028	2,245,000	2,140,392
Bank of America Corp. Senior Notes 4.13% due 01/22/2024	2,200,000	2,235,132

Citigroup, Inc. Senior Notes 3.30% due 04/27/2025	3,000,000	2,881,500
Citigroup, Inc. Senior Notes 3.52% due 10/27/2028	535,000	503,035
Goldman Sachs Group, Inc. Senior Notes 3.27% due 09/29/2025	2,075,000	1,982,665
Goldman Sachs Group, Inc. Senior Notes 3.81% due 04/23/2029	2,565,000	2,446,779
Goldman Sachs Group, Inc. Senior Notes 4.80% due 07/08/2044	1,155,000	1,178,749
JPMorgan Chase & Co. Senior Notes 4.95% due 03/25/2020	2,000,000	2,052,104
JPMorgan Chase & Co. Senior Notes 5.40% due 01/06/2042	1,080,000	1,214,187
Morgan Stanley Senior Notes 3.63% due 01/20/2027	4,200,000	4,033,147
Morgan Stanley Senior Notes 3.88% due 04/29/2024	6,125,000	6,097,166
		28,266,119
E-Commerce/Products - 0.3%
Amazon.com, Inc. Senior Notes 2.80% due 08/22/2024	1,250,000	1,206,027
Amazon.com, Inc. Senior Notes 4.80% due 12/05/2034	3,000,000	3,272,726
		4,478,753
Electric-Distribution - 0.3%
Entergy Louisiana LLC Collateral Trust Bonds 3.12% due 09/01/2027	1,675,000	1,579,028
Oglethorpe Power Corp. 1st. Mtg. Notes 5.25% due 09/01/2050	3,200,000	3,409,740
		4,988,768
Electric-Integrated - 1.9%
Consolidated Edison Co. of New York, Inc. Senior Notes 4.63% due 12/01/2054	565,000	574,734
Duke Energy Carolinas LLC 1st Mtg. Bonds 6.05% due 04/15/2038	2,000,000	2,456,191
Duke Energy Carolinas LLC Senior Notes 6.10% due 06/01/2037	1,825,000	2,212,370
Florida Power & Light Co. 1st Mtg. Notes 4.05% due 10/01/2044	2,000,000	1,988,876
Georgia Power Co. Senior Notes 4.30% due 03/15/2042	265,000	251,659
Georgia Power Co. Senior Notes 4.75% due 09/01/2040	625,000	629,151
MidAmerican Energy Co. 1st Mtg. Bonds 4.25% due 05/01/2046	375,000	377,189
Pacific Gas & Electric Co. Senior Notes 3.95% due 12/01/2047	100,000	86,926
Pacific Gas & Electric Co. Senior Notes 4.30% due 03/15/2045	106,000	97,020
Pacific Gas & Electric Co. Senior Notes 4.75% due 02/15/2044	105,000	102,184
Pacific Gas & Electric Co. Senior Notes 5.13% due 11/15/2043	695,000	712,690
Pacific Gas & Electric Co. Senior Notes 5.40% due 01/15/2040	3,390,000	3,620,370
Pacific Gas & Electric Co. Senior Notes 5.80% due 03/01/2037	2,662,000	2,969,439
Pacific Gas & Electric Co. Senior Notes 6.05% due 03/01/2034	605,000	687,669
Pacific Gas & Electric Co. Senior Notes 6.25% due 03/01/2039	825,000	950,935
Pacific Gas & Electric Co. Senior Notes 6.35% due 02/15/2038	125,000	146,129
South Carolina Electric & Gas Co. 1st Mtg. Notes 4.35% due 02/01/2042	750,000	717,405
South Carolina Electric & Gas Co. 1st Mtg. Notes 4.60% due 06/15/2043	265,000	263,039
South Carolina Electric & Gas Co. 1st Mtg. Bonds 5.10% due 06/01/2065	176,000	176,280
South Carolina Electric & Gas Co. 1st Mtg. Bonds 5.45% due 02/01/2041	1,195,000	1,283,430
South Carolina Electric & Gas Co. 1st Mtg. Bonds 6.05% due 01/15/2038	2,400,000	2,713,244
Southern California Edison Co. 1st Mtg. Notes 2.40% due 02/01/2022	885,000	853,086
Southern California Edison Co. 1st Mtg. Notes 3.70% due 08/01/2025	430,000	427,199

Southern California Edison Co. Senior Notes 6.65% due 04/01/2029	2,080,000	2,439,345
Virginia Electric & Power Co. Senior Notes 3.50% due 03/15/2027	2,735,000	2,671,085
		29,407,645
Enterprise Software/Service - 0.3%
Oracle Corp. Senior Notes 2.40% due 09/15/2023	5,040,000	4,808,785
Finance-Commercial - 0.5%
Private Export Funding Corp. Government Guar. Notes 3.25% due 06/15/2025	7,050,000	7,017,034
Gas-Distribution - 0.5%
Boston Gas Co. Senior Notes 3.15% due 08/01/2027*	655,000	618,201
Dominion Gas Holdings LLC Senior Notes 4.60% due 12/15/2044	1,000,000	982,218
KeySpan Gas East Corp. Notes 2.74% due 08/15/2026*	3,525,000	3,244,004
Southern California Gas Co. 1st Mtg. Notes 2.60% due 06/15/2026	3,610,000	3,320,770
		8,165,193
Insurance-Life/Health - 0.4%
John Hancock Life Insurance Co. Sub. Notes 7.38% due 02/15/2024*	5,000,000	5,759,732
Insurance-Multi-line - 0.6%
Guardian Life Global Funding Senior Sec. Notes 2.00% due 04/26/2021*	1,140,000	1,103,552
Metropolitan Life Global Funding I Sec. Notes 1.95% due 09/15/2021*	6,000,000	5,747,682
Metropolitan Life Global Funding I Sec. Notes 2.65% due 04/08/2022*	965,000	938,909
Metropolitan Life Global Funding I Sec. Notes 3.45% due 12/18/2026*	1,330,000	1,299,537
		9,089,680
Insurance-Mutual - 0.3%
New York Life Global Funding Sec. Notes 2.90% due 01/17/2024*	4,655,000	4,502,364
Northwestern Mutual Life Insurance Co. Sub. Notes 3.85% due 09/30/2047*	1,000,000	916,485
		5,418,849
Insurance-Property/Casualty - 0.1%
Berkshire Hathaway, Inc. Senior Notes 2.75% due 03/15/2023	1,000,000	976,650
Medical Instruments - 0.2%
Medtronic, Inc. Company Guar. Notes 3.15% due 03/15/2022	1,065,000	1,057,770
Medtronic, Inc. Company Guar. Notes 3.50% due 03/15/2025	1,700,000	1,685,864
Medtronic, Inc. Company Guar. Notes 3.63% due 03/15/2024	425,000	427,051
		3,170,685
Medical Labs & Testing Services - 0.5%
Roche Holdings, Inc. Company Guar. Notes 2.38% due 01/28/2027*	5,080,000	4,612,456
Roche Holdings, Inc. Company Guar. Notes 2.88% due 09/29/2021*	2,775,000	2,749,030
		7,361,486
Medical-Drugs - 0.7%
Bayer US Finance LLC Company Guar. Notes 2.38% due 10/08/2019*	355,000	352,645
Bayer US Finance LLC Company Guar. Notes 3.00% due 10/08/2021*	1,700,000	1,669,314
Merck & Co., Inc. Senior Notes 2.75% due 02/10/2025	2,680,000	2,572,612
Merck & Co., Inc. Senior Notes 2.80% due 05/18/2023	1,880,000	1,841,781
Novartis Capital Corp. Company Guar. Notes 3.40% due 05/06/2024	3,700,000	3,705,049
		10,141,401
Medical-HMO - 0.3%
Kaiser Foundation Hospitals Company Guar. Notes 3.50% due 04/01/2022	461,000	461,898
UnitedHealth Group, Inc. Senior Notes 3.35% due 07/15/2022	1,360,000	1,358,107
UnitedHealth Group, Inc. Senior Notes 3.75% due 07/15/2025	1,165,000	1,170,540

UnitedHealth Group, Inc. Senior Notes 3.85% due 06/15/2028	1,000,000	1,002,459
		3,993,004
Medical-Hospitals - 0.4%
Ascension Health Notes 4.85% due 11/15/2053	125,000	137,413
Dignity Health Sec. Notes 2.64% due 11/01/2019	260,000	258,380
Dignity Health Sec. Notes 3.81% due 11/01/2024	1,242,000	1,227,399
Memorial Sloan-Kettering Cancer Center Senior Notes 4.20% due 07/01/2055	435,000	435,583
Mercy Health Sec. Notes 3.56% due 08/01/2027	2,700,000	2,593,369
Providence St Joseph Health Obligated Group Notes 3.93% due 10/01/2048	960,000	895,021
Stanford Health Care Notes 3.80% due 11/15/2048	410,000	388,037
		5,935,202
Multimedia - 0.1%
NBCUniversal Media LLC Company Guar. Notes 4.45% due 01/15/2043	826,000	788,327
Property Trust - 0.3%
WEA Finance LLC Company Guar. Notes 4.13% due 09/20/2028*	4,220,000	4,181,739
Real Estate Investment Trusts - 0.3%
SBA Tower Trust Mtg. Notes 3.16% due 10/10/2045*	3,665,000	3,637,512
SBA Tower Trust Mtg. Notes 3.45% due 03/15/2048*	1,495,000	1,473,295
		5,110,807
Schools - 0.4%
Stanford University Notes 6.88% due 02/01/2024	5,000,000	5,845,290
Special Purpose Entity - 0.1%
Postal Square LP Government Guar. Notes 8.95% due 06/15/2022	1,592,500	1,767,844
Transport-Services - 0.5%
Federal Express Corp. Pass-Through Certs. Series 981A, Class A 6.72% due 07/15/2023	1,597,210	1,669,085
United Parcel Service of America, Inc. Senior Notes 8.38% due 04/01/2020	5,000,000	5,375,555
		7,044,640
Water - 0.1%
American Water Capital Corp. Senior Notes 2.95% due 09/01/2027	1,250,000	1,169,616
Total U.S. Corporate Bonds & Notes (cost $239,236,236)		235,638,168
FOREIGN CORPORATE BONDS & NOTES - 11.3%
Banks-Commercial - 6.3%
Bank of Montreal Senior Notes 2.38% due 01/25/2019	3,500,000	3,497,433
Bank of Montreal Notes 2.50% due 01/11/2022*	4,000,000	3,904,560
Banque Federative du Credit Mutuel SA Senior Notes 2.75% due 10/15/2020*	4,300,000	4,238,513
BPCE SA Sub. Notes 5.70% due 10/22/2023*	10,075,000	10,500,387
Canadian Imperial Bank of Commerce FRS Senior Notes 3.05% (3 ML + 0.72%) due 06/16/2022	2,845,000	2,866,597
Canadian Imperial Bank of Commerce Notes 3.15% due 06/27/2021*	12,200,000	12,160,768
Credit Suisse AG Senior Notes 3.00% due 10/29/2021	860,000	847,934
Credit Suisse AG Senior Notes 3.63% due 09/09/2024	1,200,000	1,182,696
Danske Bank A/S Senior Notes 3.88% due 09/12/2023*	1,350,000	1,322,236
DNB Bank ASA Senior Notes 2.38% due 06/02/2021*	5,800,000	5,622,911
DNB Boligkreditt AS Bonds 2.50% due 03/28/2022*	1,780,000	1,727,333
ING Groep NV Senior Notes 3.95% due 03/29/2027	2,045,000	1,962,860
Macquarie Bank, Ltd. Senior Notes 2.40% due 01/21/2020*	635,000	627,231

National Australia Bank, Ltd. Bonds 2.40% due 12/07/2021*	8,200,000	7,957,278
NBK SPC, Ltd. Company Guar. Notes 2.75% due 05/30/2022*	9,345,000	8,994,563
Nordea Bank AB FRS Senior Notes 3.01% (3 ML + 0.62%) due 09/30/2019*	8,000,000	8,038,474
Royal Bank of Canada Senior Notes 2.50% due 01/19/2021	5,100,000	5,016,763
Santander UK PLC Senior Notes 2.50% due 03/14/2019	3,600,000	3,598,053
Svenska Handelsbanken AB Senior Notes 5.13% due 03/30/2020*	3,000,000	3,082,294
Swedbank AB Senior Notes 2.65% due 03/10/2021*	5,000,000	4,904,075
Toronto-Dominion Bank Notes 2.50% due 01/18/2023*	4,000,000	3,892,031
		95,944,990
Cellular Telecom - 0.0%
America Movil SAB de CV Senior Notes 3.13% due 07/16/2022	635,000	621,786
Diversified Banking Institutions - 2.3%
Bank of Nova Scotia Senior Notes 2.05% due 10/30/2018	3,000,000	2,999,357
Bank of Nova Scotia Senior Notes 2.45% due 03/22/2021	2,145,000	2,100,444
BNP Paribas SA Senior Notes 2.95% due 05/23/2022*	390,000	377,547
BNP Paribas SA Senior Notes 3.38% due 01/09/2025*	2,025,000	1,916,980
BNP Paribas SA Senior Notes 3.50% due 11/16/2027*	2,000,000	1,841,675
Credit Agricole SA Senior Notes 3.25% due 10/04/2024*	2,940,000	2,755,244
Credit Agricole SA Senior Notes 3.75% due 04/24/2023*	1,175,000	1,153,103
Credit Suisse Group AG FRS Senior Notes 3.57% (3 ML + 1.24%) due 06/12/2024*	3,725,000	3,746,046
Credit Suisse Group AG Senior Bonds 3.87% due 01/12/2029*	1,155,000	1,086,078
HSBC Holdings PLC Senior Notes 3.40% due 03/08/2021	1,650,000	1,646,786
HSBC Holdings PLC Senior Notes 3.60% due 05/25/2023	7,310,000	7,237,293
HSBC Holdings PLC Senior Notes 4.00% due 03/30/2022	1,160,000	1,174,191
Macquarie Group, Ltd. Senior Notes 4.15% due 03/27/2024*	4,745,000	4,725,029
Societe Generale SA Senior Notes 3.25% due 01/12/2022*	1,955,000	1,909,489
		34,669,262
Diversified Manufacturing Operations - 0.3%
Siemens Financieringsmaatschappij NV Company Guar. Notes 3.13% due 03/16/2024*	4,485,000	4,362,356
E-Commerce/Products - 0.4%
Alibaba Group Holding, Ltd. Senior Notes 2.50% due 11/28/2019	490,000	487,451
Alibaba Group Holding, Ltd. Senior Notes 3.40% due 12/06/2027	3,400,000	3,169,121
Alibaba Group Holding, Ltd. Senior Notes 3.60% due 11/28/2024	2,110,000	2,074,692
		5,731,264
Electric-Distribution - 0.5%
State Grid Overseas Investment, Ltd. Company Guar. Notes 2.75% due 05/07/2019*	2,000,000	1,993,416
State Grid Overseas Investment, Ltd. Company Guar. Notes 2.75% due 05/04/2022*	3,015,000	2,914,853
State Grid Overseas Investment, Ltd. Company Guar. Notes 3.50% due 05/04/2027*	2,760,000	2,629,495
		7,537,764
Internet Application Software - 0.1%
Tencent Holdings, Ltd. Senior Notes 3.60% due 01/19/2028*	2,240,000	2,120,188
Investment Management/Advisor Services - 0.2%
CDP Financial, Inc. Company Guar. Notes 4.40% due 11/25/2019*	2,900,000	2,947,802

Oil Companies-Exploration & Production - 0.6%
BG Energy Capital PLC Company Guar. Notes 4.00% due 10/15/2021*	670,000	679,339
Sinopec Group Overseas Development, Ltd. Company Guar. Notes 2.50% due 04/28/2020*	5,660,000	5,568,197
Sinopec Group Overseas Development, Ltd. Company Guar. Notes 3.00% due 04/12/2022*	3,020,000	2,932,785
		9,180,321
Oil Companies-Integrated - 0.4%
BP Capital Markets PLC Company Guar. Notes 4.74% due 03/11/2021	1,100,000	1,136,918
Shell International Finance BV Company Guar. Notes 3.25% due 05/11/2025	1,000,000	978,193
Statoil ASA Company Guar. Notes 2.25% due 11/08/2019	325,000	322,736
Statoil ASA Company Guar. Notes 2.45% due 01/17/2023	211,000	203,256
Statoil ASA Company Guar. Notes 2.75% due 11/10/2021	475,000	468,597
Statoil ASA Company Guar. Notes 2.90% due 11/08/2020	2,250,000	2,237,298
		5,346,998
Real Estate Investment Trusts - 0.2%
Scentre Group Trust 1/Scentre Group Trust 2 Company Guar. Notes 2.38% due 11/05/2019*	2,390,000	2,363,970
Total Foreign Corporate Bonds & Notes (cost $174,051,729)		170,826,701
FOREIGN GOVERNMENT OBLIGATIONS - 2.2%
Banks-Export/Import - 0.2%
Japan Bank for International Cooperation Government Guar. Notes 2.25% due 02/24/2020	2,776,000	2,747,542
Electric-Distribution - 0.2%
Hydro-Quebec Government Guar. Notes Series HY 8.40% due 01/15/2022	3,000,000	3,433,361
Sovereign - 1.8%
Kingdom of Saudi Arabia Senior Notes 2.38% due 10/26/2021*	1,775,000	1,712,875
Kingdom of Saudi Arabia Senior Notes 2.88% due 03/04/2023*	3,440,000	3,322,352
Kingdom of Saudi Arabia Senior Notes 4.00% due 04/17/2025*	1,690,000	1,690,845
State of Qatar Senior Bonds 2.38% due 06/02/2021*	11,060,000	10,750,984
State of Qatar Senior Notes 3.88% due 04/23/2023*	3,335,000	3,358,345
State of Qatar Senior Notes 5.10% due 04/23/2048*	1,380,000	1,435,200
State of Qatar Senior Notes 5.25% due 01/20/2020*	4,540,000	4,657,404
		26,928,005
Total Foreign Government Obligations (cost $32,770,539)		33,108,908
MUNICIPAL BONDS & NOTES - 2.7%
Atlanta Downtown Development Authority Revenue Bonds 6.88% due 02/01/2021	1,975,000	2,073,355
Bay Area Toll Authority Revenue Bonds Series S-1 7.04% due 04/01/2050	1,475,000	2,160,772
Chicago Transit Authority Revenue Bonds Series B 6.30% due 12/01/2021	220,000	229,819
Chicago Transit Authority Revenue Bonds Series A 6.90% due 12/01/2040	3,585,000	4,556,965
Chicago Transit Authority Revenue Bonds Series B 6.90% due 12/01/2040	145,000	184,312
Kansas Development Finance Authority Revenue Bonds Series H 4.93% due 04/15/2045	2,350,000	2,524,346
Kansas Development Finance Authority Revenue Bonds Series C 5.37% due 05/01/2026	1,020,000	1,080,812
Maryland State Transportation Authority Revenue Bonds 5.89% due 07/01/2043	1,245,000	1,546,738

Municipal Electric Authority of Georgia Revenue Bonds 6.64% due 04/01/2057	1,474,000	1,738,701
Municipal Electric Authority of Georgia Revenue Bonds 6.66% due 04/01/2057	320,000	378,739
North Texas Tollway Authority Revenue Bonds Series B 6.72% due 01/01/2049	2,150,000	3,021,739
Oregon School Boards Association General Obligation Bonds 4.76% due 06/30/2028	2,800,000	2,956,408
Port Authority of New York & New Jersey Revenue Bonds Series 192 4.81% due 10/15/2065	1,255,000	1,369,770
San Antonio, Texas Electric & Gas Revenue Bonds 5.99% due 02/01/2039	885,000	1,124,800
San Jose Redevelopment Agency Successor Agency Tax Allocation Series A-T 3.38% due 08/01/2034	1,215,000	1,125,418
State of Connecticut General Obligation Bonds 2.99% due 01/15/2023	4,275,000	4,150,683
State of California General Obligation Bonds 7.35% due 11/01/2039	2,830,000	3,974,424
State of California General Obligation Bonds 7.55% due 04/01/2039	250,000	364,895
State of Wisconsin Revenue Bonds Series A 5.70% due 05/01/2026	2,500,000	2,738,600
University of California Revenue Bonds 5.77% due 05/15/2043	1,925,000	2,332,272
University of California Revenue Bonds Series F 6.58% due 05/15/2049	1,405,000	1,841,885
Total Municipal Bonds & Notes (cost $38,914,383)		41,475,453
U.S. GOVERNMENT AGENCIES - 34.6%
Federal Home Loan Mtg. Corp. - 18.6%
2.50% due 10/01/2031	6,708,269	6,471,099
3.00% due 06/01/2046	9,859,928	9,450,707
3.00% due 09/01/2046	31,319,798	30,019,903
3.00% due 10/01/2046	2,288,015	2,193,053
3.00% due 11/01/2046	33,850,926	32,451,250
3.00% due 12/01/2046	54,506,425	52,245,619
3.00% due 01/01/2047	436,284	418,099
3.00% due 02/01/2047	2,502,009	2,397,923
3.00% due October 15 TBA	17,300,000	17,041,922
3.50% due 08/01/2047	29,078,777	28,645,037
3.50% due 10/01/2047	21,097,422	20,781,097
3.50% due 08/01/2048	32,547,489	32,054,936
3.50% due October 15 TBA	3,000,000	3,013,100
3.50% due October 30 TBA	21,500,000	21,160,704
4.00% due 09/01/2026	696,009	712,905
4.00% due 12/01/2040	4,948,914	5,041,288
5.50% due October 30 TBA	2,000,000	2,131,094
6.00% due 12/01/2039	255,403	278,361
7.50% due 05/01/2027	895	996
Federal Home Loan Mtg. Corp. Multifamily Mtg. Trust VRS
Series 2013-K713, Class B 3.26% due 04/25/2046*(1)(4)	485,000	483,510
Series 2013-K712, Class B 3.47% due 05/25/2045*(1)(4)	780,000	779,852
Series 2010-K7, Class B 5.69% due 04/25/2020*(1)(4)	1,115,000	1,147,253
Federal Home Loan Mtg. Corp. REMIC
Series 4654, Class KA 3.00% due 06/15/2045(2)	8,120,631	7,952,276
Series 4758, Class CA 3.00% due 07/15/2047(2)	5,408,349	5,265,859
		282,137,843
Federal National Mtg. Assoc. - 12.7%
2.00% due 09/01/2031	425,648	399,280
2.00% due 11/01/2031	494,911	464,260
2.00% due 12/01/2031	1,536,640	1,441,491
2.47% due 05/01/2025	3,359,567	3,193,199
2.50% due 03/01/2030	6,322,479	6,114,165
2.50% due October 30 TBA	1,800,000	1,666,055
2.68% due 05/01/2025	6,000,000	5,757,746
2.81% due 07/01/2025	6,000,000	5,798,454
2.98% due 07/01/2022	6,857,228	6,793,014
2.99% due 10/01/2025	2,116,321	2,064,593
3.00% due 05/01/2027	616,766	612,882
3.00% due 06/01/2027	295,117	293,258
3.00% due 08/01/2027	198,778	197,434
3.00% due 10/01/2046	22,668,281	21,730,480
3.00% due October 15 TBA	2,000,000	1,975,189
3.01% due 12/01/2024	3,741,101	3,666,559
3.09% due 10/01/2025	1,020,385	1,001,785
3.12% due 05/01/2033	2,741,922	2,626,141
3.33% due 07/01/2022	5,294,000	5,331,523
3.50% due 11/01/2047	6,282,896	6,186,276
3.50% due October 15 TBA	7,350,000	7,387,037
3.50% due October 30 TBA	10,819,000	10,646,209

4.00% due 01/01/2046	8,135,871	8,226,347
4.00% due 02/01/2046	8,760,434	8,857,798
4.00% due 09/01/2026	4,924,411	5,030,939
4.00% due October 30 TBA	9,000,000	9,087,890
4.50% due 11/01/2026	832,031	862,582
4.50% due 01/01/2027	707,946	729,230
4.50% due 05/01/2039	37,003	38,534
4.50% due 06/01/2039	66,024	68,132
4.50% due 08/01/2039	9,348	9,735
4.50% due 11/01/2040	742,602	766,326
4.50% due 12/01/2040	257,408	267,646
4.50% due 07/01/2041	414,478	430,728
4.50% due 06/01/2043	221,167	229,058
4.50% due 10/01/2043	213,958	220,805
4.50% due 11/01/2043	73,760	76,115
5.00% due October 30 TBA	24,000,000	25,192,637
5.50% due 03/01/2038	560,352	600,312
5.50% due 06/01/2038	35,721	38,351
5.50% due 08/01/2038	39,631	42,585
5.50% due 09/01/2039	20,588	22,113
5.50% due 05/01/2040	1,913	2,042
5.50% due 06/01/2040	10,153	11,000
5.50% due October 30 TBA	11,700,000	12,485,180
6.50% due 02/01/2038	60,981	67,571
6.50% due 10/01/2039	67,761	75,079
Federal National Mtg. Assoc. REMIC
Series 2018-80, Class GD 3.50% due 12/25/2047(2)	4,098,000	4,062,812
Series 2018-77, Class PA 3.50% due 02/25/2048(2)	6,789,000	6,752,824
Federal National Mtg. Assoc. REMIC FRS
Series 2017-M13, Class FA 2.47% (1 ML + 0.40%) due 10/25/2024(4)	2,009,923	2,007,610
Series 2017-M5, Class FA 2.56% (1 ML + 0.49%) due 04/25/2024(4)	799,678	802,187
Federal National Mtg. Assoc. REMIC VRS
Series 2015-M12, Class A2 2.89% due 05/25/2025(1)(4)	10,285,000	9,947,395
		192,358,593
Government National Mtg. Assoc. - 3.1%
4.00% due 02/15/2041	968,935	991,509
4.00% due 09/15/2041	766,229	784,287
4.00% due 02/15/2042	9,229	9,390
4.00% due 08/15/2042	143,642	147,176
4.00% due October 30 TBA	25,650,000	26,085,850
4.50% due 05/15/2040	542,596	566,316
4.50% due 06/15/2040	643,087	670,204
4.50% due 07/15/2040	1,190,196	1,241,824
4.50% due 05/15/2042	162,689	169,579
4.50% due October 30 TBA	3,025,000	3,126,048
5.00% due 07/15/2033	1,033,081	1,097,157
5.00% due 10/15/2033	67,244	71,023
5.00% due 11/15/2033	9,860	10,425
5.00% due 12/15/2033	22,368	23,433
5.00% due 01/15/2034	119,287	125,415
5.00% due 02/15/2034	60,866	63,420
5.00% due 03/15/2034	4,649	4,844
5.00% due 05/15/2034	8,935	9,533
5.00% due 06/15/2035	6,126	6,504
5.00% due 09/15/2035	73,637	77,344
5.00% due 11/15/2035	22,973	24,174
5.00% due 12/15/2035	18,737	19,759
5.00% due 02/15/2036	10,574	11,042
5.00% due 03/15/2036	9,635	10,039
5.00% due 09/15/2036	2,086	2,174
5.00% due 05/15/2038	8,989	9,366
5.00% due 07/15/2038	83,809	87,325
5.00% due 08/15/2038	26,567	28,210
5.00% due 11/15/2038	72,475	76,985
5.00% due 12/15/2038	281,774	299,304
5.00% due 06/15/2039	359,271	381,556
5.00% due 08/15/2039	92,909	98,667
5.00% due 07/15/2040	43,542	45,372
5.00% due 04/15/2041	225,086	239,035
5.50% due 10/15/2032	1,266	1,359
5.50% due 02/15/2033	61,014	65,419
5.50% due 05/15/2033	44,318	47,916
5.50% due 06/15/2033	58,529	63,334
5.50% due 07/15/2033	10,273	11,049
5.50% due 08/15/2033	6,811	7,303
5.50% due 09/15/2033	4,175	4,532
5.50% due 11/15/2033	108,447	116,945
5.50% due 01/15/2034	15,029	16,320
5.50% due 02/15/2034	51,427	55,516
5.50% due 03/15/2034	458,091	495,845
5.50% due 04/15/2034	20,280	22,152
5.50% due 05/15/2034	39,931	43,094
5.50% due 06/15/2034	11,088	11,905
5.50% due 07/15/2034	9,461	10,144
5.50% due 08/15/2034	12,600	13,510
5.50% due 09/15/2034	149,142	159,913
5.50% due 10/15/2034	159,697	171,722
5.50% due 04/15/2036	45,386	48,835
6.00% due 06/15/2028	12,023	12,990
6.00% due 08/15/2028	24,506	26,477
6.00% due 09/15/2028	30,520	32,975
6.00% due 10/15/2028	9,793	10,581
6.00% due 12/15/2028	38,532	41,913
6.00% due 04/15/2029	2,011	2,173
6.00% due 01/15/2032	6,449	7,061
6.00% due 02/15/2032	236	255
6.00% due 07/15/2032	6,564	7,092
6.00% due 09/15/2032	11,370	12,285
6.00% due 10/15/2032	165,024	178,835
6.00% due 11/15/2032	8,193	8,852
6.00% due 01/15/2033	2,222	2,400
6.00% due 02/15/2033	8,459	9,466
6.00% due 03/15/2033	22,563	24,439

6.00% due 04/15/2033	44,583	48,169
6.00% due 05/15/2033	77,400	83,625
6.00% due 12/15/2033	20,078	21,929
6.00% due 08/15/2034	3,401	3,695
6.00% due 09/15/2034	74,485	80,476
6.00% due 10/15/2034	39,998	43,391
6.00% due 05/15/2036	18,865	20,566
6.00% due 06/15/2036	218,431	242,952
6.00% due 07/15/2036	2,718,026	2,963,600
6.00% due 08/15/2036	65,233	70,838
6.00% due 12/15/2036	144,536	157,482
6.00% due 02/15/2037	52,813	57,477
6.00% due 08/15/2037	44,657	48,249
6.00% due 01/15/2038	215,409	235,218
6.00% due 03/15/2038	129,600	140,024
6.00% due 07/15/2038	82,417	89,046
6.00% due 08/15/2038	198,120	214,258
6.00% due 09/15/2038	373,719	406,504
6.00% due 10/15/2038	486,892	533,024
6.00% due 11/15/2038	177,451	191,734
6.00% due 12/15/2038	170,320	184,018
6.00% due 01/15/2039	132,304	144,238
6.00% due 02/15/2039	112,083	121,157
6.00% due 04/15/2039	73,609	79,529
6.00% due 12/15/2039	111,024	119,953
6.00% due 03/15/2040	195,347	211,063
6.00% due 04/15/2040	45,010	48,630
6.00% due 06/15/2041	157,542	170,212
6.50% due 06/15/2023	2,237	2,454
6.50% due 07/15/2023	10,871	11,927
6.50% due 08/15/2023	1,391	1,526
6.50% due 10/15/2023	6,412	7,035
6.50% due 11/15/2023	11,176	12,261
6.50% due 12/15/2023	31,005	34,016
6.50% due 02/15/2027	1,129	1,238
6.50% due 12/15/2027	1,535	1,684
6.50% due 01/15/2028	15,783	17,315
6.50% due 02/15/2028	6,746	7,402
6.50% due 03/15/2028	21,231	23,294
6.50% due 04/15/2028	10,941	12,001
6.50% due 05/15/2028	36,015	39,513
6.50% due 06/15/2028	42,724	46,880
6.50% due 07/15/2028	51,154	56,124
6.50% due 08/15/2028	30,594	33,564
6.50% due 09/15/2028	45,930	50,393
6.50% due 10/15/2028	37,529	41,194
6.50% due 11/15/2028	42,605	46,755
6.50% due 12/15/2028	35,801	39,302
6.50% due 02/15/2029	5,264	5,776
6.50% due 03/15/2029	14,087	15,454
6.50% due 04/15/2029	6,702	7,352
6.50% due 05/15/2029	54,139	59,396
6.50% due 06/15/2029	6,220	6,824
6.50% due 03/15/2031	2,693	2,955
6.50% due 04/15/2031	568	635
6.50% due 05/15/2031	56,923	62,486
6.50% due 06/15/2031	39,918	43,795
6.50% due 07/15/2031	117,267	128,655
6.50% due 08/15/2031	19,123	20,981
6.50% due 09/15/2031	74,788	82,051
6.50% due 10/15/2031	30,807	33,985
6.50% due 11/15/2031	35,561	39,014
6.50% due 01/15/2032	110,854	121,620
6.50% due 02/15/2032	44,373	48,682
6.50% due 04/15/2032	12,187	13,371
6.50% due 05/15/2032	16,170	17,740
7.00% due 11/15/2031	20,755	22,668
7.00% due 03/15/2032	15,975	17,856
7.00% due 01/15/2033	21,415	24,159
7.00% due 05/15/2033	55,805	62,689
7.00% due 07/15/2033	39,742	44,290
7.00% due 11/15/2033	55,596	62,561
8.00% due 10/15/2029	371	372
8.00% due 12/15/2029	1,861	1,865
8.00% due 01/15/2030	15,102	15,563
8.00% due 03/15/2030	115	115
8.00% due 04/15/2030	16,195	16,346
8.00% due 08/15/2030	1,481	1,484
8.00% due 09/15/2030	19,237	19,625
8.00% due 11/15/2030	1,633	1,710
8.00% due 02/15/2031	35,109	37,135
8.00% due 03/15/2031	9,922	9,988
Government National Mtg. Assoc. REMIC
Series 2005-74, Class HA 7.50% due 09/16/2035(2)	39,357	42,254
Series 2005-74, Class HB 7.50% due 09/16/2035(2)	241,172	264,635
Series 2005-74, Class HC 7.50% due 09/16/2035(2)	105,125	116,780
		47,048,698
Resolution Funding Corp - 0.2%
Resolution Funding Corp. STRIPS zero coupon due 07/15/2020	2,500,000	2,376,222
Total U.S. Government Agencies (cost $537,575,717)		523,921,356
U.S. GOVERNMENT TREASURIES - 23.0%
United States Treasury Bonds - 7.0%
2.50% due 02/15/2045	10,270,000	8,994,675
2.50% due 05/15/2046(6)	915,000	797,909
2.75% due 08/15/2047	4,915,000	4,501,257
2.75% due 11/15/2047	19,733,000	18,064,174
2.88% due 05/15/2043	31,130,000	29,430,010
2.88% due 08/15/2045	6,205,000	5,842,880
3.00% due 11/15/2044	1,790,000	1,727,839
3.00% due 02/15/2047	8,515,000	8,205,999
3.00% due 02/15/2048	7,225,000	6,953,216
3.00% due 08/15/2048	770,000	741,035
3.13% due 05/15/2048	2,460,000	2,427,232
3.38% due 05/15/2044	2,895,000	2,985,129
3.63% due 02/15/2044	13,550,000	14,555,664
		105,227,019

United States Treasury Notes - 16.0%
0.38% due 01/15/2027 TIPS(5)		47,394,848			45,241,714
0.50% due 01/15/2028 TIPS(5)		42,909,300			41,173,373
1.38% due 09/30/2020		5,000,000			4,859,766
1.50% due 03/31/2023		23,610,000			22,184,177
1.63% due 06/30/2020		39,630,000			38,834,304
1.75% due 06/30/2022		18,000,000			17,258,203
1.88% due 06/30/2020		3,170,000			3,119,973
1.88% due 04/30/2022		18,875,000			18,212,163
1.88% due 07/31/2022		4,000,000			3,848,594
2.00% due 11/30/2020		10,400,000			10,215,969
2.13% due 12/31/2022		23,290,000			22,533,985
2.63% due 06/30/2023		13,360,000			13,170,037
2.88% due 05/15/2028		2,360,000			2,324,416
					242,976,674
Total U.S. Government Treasuries (cost $357,370,527)					348,203,693
Total Long-Term Investment Securities (cost $1,522,129,390)					1,494,206,621
REPURCHASE AGREEMENTS - 9.5%
Bank of America Securities LLC Joint Repurchase Agreement(7)		28,195,000			28,195,000
Barclays Capital, Inc. Joint Repurchase Agreement(7)		9,395,000			9,395,000
BNP Paribas SA Joint Repurchase Agreement(7)		53,280,000			53,280,000
Deutsche Bank AG Joint Repurchase Agreement(7)		9,940,000			9,940,000
RBS Securities, Inc. Joint Repurchase Agreement(7)		43,865,000			43,865,000
Total Repurchase Agreements (cost $144,675,000)					144,675,000
TOTAL INVESTMENTS (cost $1,666,804,390)		108.1	%		1,638,881,621
Liabilities in excess of other assets		(8.1	)		(122,321,153	)
NET ASSETS		100.0	%	$	1,516,560,468
FORWARD SALES CONTRACTS - (0.52)%
U.S. Government Agencies - (0.52)%
Federal National Mtg. Assoc. - (0.42)%
4.00% due October 15 TBA	$	(4,700,000	)	$	(4,793,816	)
4.50% due October 30 TBA		(1,520,000	)		(1,567,925	)
					(6,361,741	)
Government National Mtg. Assoc. - (0.10)%
4.00% due October 30 TBA		(1,500,000	)		(1,525,030	)
Total Forward Sales Contracts (proceeds ($7,903,006))				$	(7,886,771	)

* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Portfolio has no right to demand registration of these securities. At September 30, 2018, the aggregate value of these securities was $342,963,101 representing 22.6% of net assets. Unless otherwise indicated, these securities are not considered to be illiquid.

(1) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(2) Collateralized Mortgage Obligation

(3) Collateralized Loan Obligation

(4) Commercial Mortgage Backed Security

(5) Principal amount of security is adjusted for inflation.

(6) The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts.

(7) See Note 2 for details of Joint Repurchase Agreements.

CLO  -  Collateralized Loan Obligation

REMIC  -  Real Estate Mortgage Investment Conduit

STRIPS  -  Separate trading of registered interest and principal of securities

TBA  -  Securities purchased on a forward commitment basis with an approximate principal amount and no definite maturity date. The actual principal amount and maturity date will be determined upon settlement date.

TIPS  -  Treasury Inflation Protected Securities

FRS  -  Floating Rate Security

VRS  -  Variable Rate Security

The rates on FRS and VRS are the current interest rates at September 30, 2018 and unless noted otherwise, the dates shown are the original maturity dates.

Index Legend

1 ML - 1 Month USD LIBOR

3 ML - 3 Month USD LIBOR

Futures Contracts

Number of Contracts	Type		Description	Expiration Month		Notational Basis*		Notational Value*		Unrealized Appreciation (Depreciation)
689		Long	U.S. Treasury 5 Year Notes		December 2018	$	78,050,086	$	77,496,352	$	(553,734	)
40		Short	U.S. Treasury 10 Year Notes		December 2018		4,802,305		4,751,250		51,055
588		Short	U.S. 10 Year Ultra Futures		December 2018		75,107,117		74,088,000		1,019,117
										$	516,438

* Notational basis refers to the contractual amount agreed upon at inception of the open contract; notational value represents the current value of the open contract.

The following is a summary of the inputs used to value the Portfolio’s net assets as of September 30, 2018 (see Note 1):

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*
Asset Backed Securities	$	—	$	141,032,342	$	—	$	141,032,342
U.S. Corporate Bonds & Notes		—		235,638,168		—		235,638,168
Foreign Corporate Bonds & Notes		—		170,826,701		—		170,826,701
Foreign Government Obligations		—		33,108,908		—		33,108,908
Municipal Bond & Notes		—		41,475,453		—		41,475,453
U.S. Government Agencies		—		523,921,356		—		523,921,356
U.S. Government Treasuries		—		348,203,693		—		348,203,693
Repurchase Agreements		—		144,675,000		—		144,675,000
Total Investments at Value	$	—	$	1,638,881,621	$	—	$	1,638,881,621
Other Financial Instruments:+
Futures Contracts	$	1,070,172	$	—	$	—	$	1,070,172
LIABILITIES:
Forward Sales Contracts:
U.S. Government Agencies	$	—	$	7,886,771	$	—	$	7,886,771
Other Financial Instruments:+
Futures Contracts	$	553,734	$	—	$	—	$	553,734

* For a detailed presentation of investments, please refer to the Portfolio of Investments.

+ Other financial instruments are derivative Instruments, not reflected in the Portfolio of Investments, such as futures, forward, swap and written option contracts, which are valued at the unrealized appreciation (depreciation) on the instrument.

The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no material transfers between Levels during the reporting period.

At the beginning of the reporting period, Level 3 investments in securities were not considered a material portion of the Fund. There were no Level 3 investments at the end of the reporting period.

See Notes to Portfolio of Investments

Anchor Series Trust SA PGI Asset Allocation Portfolio#

PORTFOLIO OF INVESTMENTS - September 30, 2018 - (unaudited)

Security Description	Shares/ Principal Amount		Value (Note 1)
COMMON STOCKS - 56.5%
Aerospace/Defense - 0.7%
Boeing Co.		1,698	$	631,486
MSA Safety, Inc.		495		52,688
Northrop Grumman Corp.		1,755		556,984
				1,241,158
Agricultural Chemicals - 0.1%
Incitec Pivot, Ltd. ADR		77,000		215,600
Airlines - 0.9%
Alaska Air Group, Inc.		12,194		839,679
Copa Holdings SA, Class A		5,500		439,120
Delta Air Lines, Inc.		6,544		378,440
Hawaiian Holdings, Inc.		1,273		51,047
				1,708,286
Apparel Manufacturers - 0.1%
VF Corp.		2,213		206,805
Applications Software - 1.3%
Microsoft Corp.		17,966		2,054,771
Red Hat, Inc.†		2,599		354,192
				2,408,963
Auction Houses/Art Dealers - 0.2%
Ritchie Bros. Auctioneers, Inc.		9,000		325,170
Auto-Cars/Light Trucks - 0.4%
Nissan Motor Co., Ltd. ADR		36,000		673,380
Auto-Heavy Duty Trucks - 0.3%
NFI Group, Inc.		2,769		107,767
PACCAR, Inc.		6,128		417,869
				525,636
Auto/Truck Parts & Equipment-Original - 0.9%
Adient PLC		1,878		73,824
Autoliv, Inc.		11,320		981,218
Linamar Corp.		1,403		64,640
Magna International, Inc.		11,693		614,233
				1,733,915
Banks-Commercial - 1.5%
Banco Bilbao Vizcaya Argentaria SA ADR		70,000		441,000
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand ADR		13,478		104,589
Bank OZK		7,139		270,996
BOK Financial Corp.		414		40,274
Cullen/Frost Bankers, Inc.		5,573		582,044
East West Bancorp, Inc.		11,202		676,265
Hope Bancorp, Inc.		2,560		41,395
ING Groep NV ADR		38,000		492,860
PacWest Bancorp		2,190		104,354
Washington Trust Bancorp, Inc.		812		44,904
				2,798,681
Banks-Super Regional - 1.2%
PNC Financial Services Group, Inc.		10,431		1,420,598
SunTrust Banks, Inc.		3,250		217,068
US Bancorp		9,093		480,201
				2,117,867
Batteries/Battery Systems - 0.2%
Energizer Holdings, Inc.		7,375		432,544
Beverages-Non-alcoholic - 0.7%
Coca-Cola Co.		4,728		218,387
Keurig Dr. Pepper, Inc.		15,984		370,349
PepsiCo, Inc.		6,620		740,116
				1,328,852
Beverages-Wine/Spirits - 0.3%
Diageo PLC ADR		3,250		460,427
Brewery - 0.3%
Ambev SA ADR		140,000		639,800
Building & Construction Products-Misc. - 0.3%
James Hardie Industries PLC ADR		30,000		457,800
Building-Mobile Home/Manufactured Housing - 0.2%
Thor Industries, Inc.		4,478		374,809
Cable/Satellite TV - 0.2%
Comcast Corp., Class A		11,854		419,750
Cellular Telecom - 0.5%
T-Mobile US, Inc.†		10,306		723,275
Telstra Corp., Ltd. ADR		15,000		172,425
				895,700
Chemicals-Diversified - 0.7%
Croda International PLC ADR		15,000		500,250
DowDuPont, Inc.		4,183		269,009
FMC Corp.		2,729		237,914
Huntsman Corp.		1,894		51,573
PPG Industries, Inc.		1,659		181,047
				1,239,793
Chemicals-Specialty - 1.1%
Albemarle Corp.		5,750		573,735
Givaudan SA ADR		7,000		343,210
H.B. Fuller Co.		21,568		1,114,418
				2,031,363
Coal - 0.0%
Alliance Resource Partners LP		1,963		40,045
Coatings/Paint - 0.0%
Akzo Nobel NV ADR		1,000		31,155
RPM International, Inc.		510		33,119
				64,274
Commercial Services - 0.1%
RELX PLC ADR		11,000		230,230
Commercial Services-Finance - 0.3%
Experian PLC ADR		16,000		410,800
Travelport Worldwide, Ltd.		6,018		101,524
				512,324
Computer Services - 0.1%
Accenture PLC, Class A		948		161,350
Leidos Holdings, Inc.		969		67,016
				228,366
Computer Software - 0.0%
j2 Global, Inc.		474		39,271
Computers - 1.3%
Apple, Inc.		10,962		2,474,562
Containers-Paper/Plastic - 0.0%
Packaging Corp. of America		359		39,379
Cosmetics & Toiletries - 0.2%
Unilever NV		7,000		388,850

Data Processing/Management - 0.4%
Broadridge Financial Solutions, Inc.	111	14,646
Fair Isaac Corp.†	2,279	520,866
Fidelity National Information Services, Inc.	2,215	241,590
		777,102
Diagnostic Equipment - 0.4%
Thermo Fisher Scientific, Inc.	3,049	744,200
Disposable Medical Products - 0.1%
STERIS PLC	918	105,019
Distribution/Wholesale - 0.7%
KAR Auction Services, Inc.	21,145	1,262,145
Diversified Banking Institutions - 1.7%
Bank of Nova Scotia	8,370	499,103
BNP Paribas SA ADR	15,000	456,600
JPMorgan Chase & Co.	19,019	2,146,104
		3,101,807
Diversified Manufacturing Operations - 0.7%
3M Co.	2,230	469,884
Crane Co.	612	60,190
Parker-Hannifin Corp.	2,053	377,608
Siemens AG ADR	6,500	415,090
		1,322,772
E-Commerce/Products - 0.7%
Amazon.com, Inc.†	655	1,311,965
E-Commerce/Services - 0.3%
Booking Holdings, Inc.†	289	573,376
Electric Products-Misc. - 0.2%
Littelfuse, Inc.	2,069	409,434
Electric-Distribution - 0.2%
Sempra Energy	3,270	371,962
Electric-Integrated - 2.1%
ALLETE, Inc.	763	57,233
Alliant Energy Corp.	1,775	75,562
CLP Holdings, Ltd. ADR	40,000	469,600
Evergy, Inc.	1,334	73,263
Eversource Energy	12,515	768,922
Fortis, Inc.	706	22,888
NextEra Energy, Inc.	7,673	1,285,995
PNM Resources, Inc.	554	21,855
WEC Energy Group, Inc.	11,603	774,616
Xcel Energy, Inc.	7,614	359,457
		3,909,391
Electronic Components-Misc. - 0.0%
Garmin, Ltd.	304	21,295
Electronic Components-Semiconductors - 0.9%
Broadcom, Inc.	879	216,876
Microchip Technology, Inc.	17,565	1,386,054
		1,602,930
Electronic Connectors - 0.2%
TE Connectivity, Ltd.	4,000	351,720
Electronic Forms - 0.4%
Adobe Systems, Inc.†	2,789	752,890
Electronic Parts Distribution - 0.2%
Arrow Electronics, Inc.†	5,165	380,764
Enterprise Software/Service - 1.2%
Black Knight, Inc.†	26,551	1,379,324
SAP SE ADR	7,180	883,140
		2,262,464
Filtration/Separation Products - 0.0%
Donaldson Co., Inc.	321	18,701
Finance-Credit Card - 0.9%
Discover Financial Services	22,860	1,747,647
Finance-Other Services - 0.8%
BGC Partners, Inc., Class A	9,345	110,458
Deutsche Boerse AG ADR	54,000	720,090
Hong Kong Exchanges & Clearing, Ltd. ADR	22,500	640,800
		1,471,348
Financial Guarantee Insurance - 0.0%
Assured Guaranty, Ltd.	2,013	85,009
Food-Dairy Products - 0.2%
Danone SA ADR	25,000	386,625
Food-Meat Products - 0.4%
Hormel Foods Corp.	6,935	273,239
Tyson Foods, Inc., Class A	8,932	531,722
		804,961
Food-Misc./Diversified - 0.4%
B&G Foods, Inc.	4,130	113,369
Ingredion, Inc.	451	47,337
Kraft Heinz Co.	4,392	242,043
Orkla ASA ADR	43,000	362,275
		765,024
Food-Retail - 0.3%
Kroger Co.	16,120	469,253
Gas-Distribution - 0.3%
Rubis SCA ADR	45,000	458,550
Golf - 0.0%
Acushnet Holdings Corp.	2,476	67,917
Housewares - 0.0%
Tupperware Brands Corp.	1,703	56,965
Human Resources - 0.3%
Adecco Group AG ADR	17,640	461,198
Industrial Automated/Robotic - 0.1%
Nordson Corp.	1,017	141,261
Industrial Gases - 0.1%
Air Products & Chemicals, Inc.	1,412	235,875
Instruments-Controls - 0.2%
Honeywell International, Inc.	1,833	305,011
Insurance Brokers - 0.0%
Arthur J. Gallagher & Co.	490	36,476
Insurance-Multi-line - 0.7%
Allstate Corp.	4,197	414,244
Chubb, Ltd.	6,829	912,627
		1,326,871

Insurance-Property/Casualty - 1.2%
Beazley PLC	4,237	31,533
Fidelity National Financial, Inc.	43,058	1,694,332
James River Group Holdings, Ltd.	1,664	70,920
Markel Corp.†	361	429,045
		2,225,830
Insurance-Reinsurance - 0.5%
Fairfax Financial Holdings, Ltd.	351	190,599
Swiss Re AG ADR	29,318	674,314
		864,913
Internet Content-Entertainment - 0.2%
Facebook, Inc., Class A†	2,221	365,266
Investment Companies - 0.2%
Oaktree Capital Group LLC	6,953	287,854
Investment Management/Advisor Services - 0.3%
BlackRock, Inc.	1,031	485,941
Machine Tools & Related Products - 0.3%
Lincoln Electric Holdings, Inc.	4,893	457,202
Machinery-Farming - 0.1%
Deere & Co.	1,775	266,836
Machinery-General Industrial - 0.0%
Albany International Corp., Class A	356	28,302
IDEX Corp.	154	23,202
		51,504
Medical Instruments - 1.5%
Edwards Lifesciences Corp.†	4,628	805,735
Medtronic PLC	14,986	1,474,173
Teleflex, Inc.	1,993	530,317
		2,810,225
Medical Products - 1.3%
Abbott Laboratories	6,309	462,828
Becton Dickinson and Co.	1,555	405,855
Sonova Holding AG ADR	17,000	673,540
Varian Medical Systems, Inc.†	8,031	898,910
		2,441,133
Medical-Biomedical/Gene - 0.2%
CSL, Ltd. ADR	4,000	289,860
Medical-Drugs - 3.1%
GlaxoSmithKline PLC ADR	6,000	241,020
Johnson & Johnson	2,433	336,167
Merck & Co., Inc.	17,348	1,230,667
Novartis AG ADR	9,169	790,001
Novo Nordisk A/S ADR	9,500	447,830
Pfizer, Inc.	34,010	1,498,821
Roche Holding AG ADR	37,679	1,136,399
		5,680,905
Medical-HMO - 0.5%
UnitedHealth Group, Inc.	3,320	883,253
Medical-Hospitals - 0.3%
Universal Health Services, Inc., Class B	3,863	493,846
Multimedia - 0.5%
Walt Disney Co.	7,497	876,699
Networking Products - 0.3%
Cisco Systems, Inc.	10,336	502,846
Non-Hazardous Waste Disposal - 0.5%
Waste Connections, Inc.	12,244	976,704
Office Furnishings-Original - 0.1%
HNI Corp.	4,606	203,769
Office Supplies & Forms - 0.2%
Avery Dennison Corp.	2,899	314,107
Oil & Gas Drilling - 0.2%
Helmerich & Payne, Inc.	3,841	264,146
Roan Resources, Inc.†	8,077	144,174
		408,320
Oil Companies-Exploration & Production - 1.3%
Cimarex Energy Co.	14,049	1,305,714
Occidental Petroleum Corp.	3,672	301,728
Riviera Resources, Inc.†	8,077	173,252
Vermilion Energy, Inc.(TSX)	17,000	559,980
Vermilion Energy, Inc.(NYSE)	2,634	86,790
		2,427,464
Oil Companies-Integrated - 1.0%
Chevron Corp.	2,218	271,217
Exxon Mobil Corp.	2,895	246,133
Royal Dutch Shell PLC, Class B ADR	18,024	1,278,442
		1,795,792
Oil Refining & Marketing - 1.1%
HollyFrontier Corp.	2,415	168,809
Marathon Petroleum Corp.	5,822	465,585
Valero Energy Corp.	11,991	1,363,976
		1,998,370
Oil-Field Services - 0.2%
Core Laboratories NV	3,000	347,490
Pipelines - 0.4%
EnLink Midstream Partners LP	4,825	89,938
Enterprise Products Partners LP	19,390	557,075
Phillips 66 Partners LP	434	22,195
Targa Resources Corp.	1,389	78,214
		747,422
Power Converter/Supply Equipment - 0.0%
Hubbell, Inc.	159	21,238
Private Equity - 0.4%
KKR & Co, Inc. Class A	24,170	659,116
Radio - 0.0%
Entercom Communications Corp., Class A	3,254	25,707
Real Estate Investment Trusts - 2.3%
Agree Realty Corp.	492	26,135
Alexandria Real Estate Equities, Inc.	7,883	991,603
American Tower Corp.	5,361	778,953
Annaly Capital Management, Inc.	17,563	179,669
CyrusOne, Inc.	5,084	322,326

Digital Realty Trust, Inc.		5,101	573,760
EastGroup Properties, Inc.		248	23,714
EPR Properties		1,538	105,215
Four Corners Property Trust, Inc.		719	18,471
Host Hotels & Resorts, Inc.		6,172	130,229
Medical Properties Trust, Inc.		6,987	104,176
National Health Investors, Inc.		456	34,469
National Retail Properties, Inc.		706	31,643
Omega Healthcare Investors, Inc.		2,995	98,146
Ramco-Gershenson Properties Trust		2,592	35,251
Simon Property Group, Inc.		2,247	397,157
Tanger Factory Outlet Centers, Inc.		15,686	358,896
			4,209,813
Real Estate Management/Services - 0.3%
Daito Trust Construction Co., Ltd. ADR		19,000	612,465
Recreational Vehicles - 0.0%
LCI Industries		334	27,655
Rental Auto/Equipment - 0.2%
Aaron’s, Inc.		6,811	370,927
Retail-Apparel/Shoe - 0.4%
Lululemon Athletica, Inc.†		4,036	655,810
Retail-Discount - 0.2%
Costco Wholesale Corp.		1,828	429,361
Retail-Restaurants - 0.4%
Chipotle Mexican Grill, Inc.†		617	280,439
Starbucks Corp.		6,464	367,414
			647,853
Rubber-Tires - 0.4%
Bridgestone Corp. ADR		36,000	678,780
Satellite Telecom - 0.1%
Inmarsat PLC ADR		23,000	149,040
Savings & Loans/Thrifts - 0.2%
Washington Federal, Inc.		13,659	437,088
Security Services - 0.3%
Secom Co., Ltd. ADR		30,000	609,000
Semiconductor Components-Integrated Circuits - 0.6%
Maxim Integrated Products, Inc.		2,927	165,054
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		23,307	1,029,237
			1,194,291
Semiconductor Equipment - 0.3%
Applied Materials, Inc.		6,745	260,694
Kulicke & Soffa Industries, Inc.		1,742	41,529
MKS Instruments, Inc.		1,072	85,921
Teradyne, Inc.		3,817	141,153
			529,297
Soap & Cleaning Preparation - 0.7%
Church & Dwight Co., Inc.		10,063	597,440
Reckitt Benckiser Group PLC ADR		40,000	733,600
			1,331,040
SupraNational Banks - 0.4%
Banco Latinoamericano de Comercio Exterior SA, Class E		32,266	675,005
Telecom Services - 0.5%
BCE, Inc.		23,684	959,676
Consolidated Communications Holdings, Inc.		2,273	29,640
			989,316
Telephone-Integrated - 0.2%
Verizon Communications, Inc.		7,873	420,339
Television - 0.4%
Nexstar Media Group, Inc., Class A		7,964	648,270
Textile-Apparel - 0.2%
LVMH Moet Hennessy Louis Vuitton SE ADR		5,000	352,450
Tools-Hand Held - 0.5%
Snap-on, Inc.		5,315	975,834
Toys - 1.2%
Hasbro, Inc.		21,632	2,273,956
Transport-Marine - 0.2%
Kirby Corp.†		4,450	366,012
Transport-Rail - 0.2%
Union Pacific Corp.		2,425	394,863
Transport-Services - 0.3%
Expeditors International of Washington, Inc.		5,492	403,827
United Parcel Service, Inc., Class B		894	104,374
			508,201
Venture Capital - 0.0%
Hercules Capital, Inc.		1,260	16,582
Web Portals/ISP - 0.8%
Alphabet, Inc., Class A†		1,225	1,478,673
X-Ray Equipment - 0.1%
Varex Imaging Corp.†		3,721	106,644
Total Common Stocks
(cost $86,985,387)			104,351,705
EXCHANGE-TRADED FUNDS - 2.0%
Vanguard Global ex-U.S. Real Estate ETF (cost $3,614,782)		65,500	3,679,135
PREFERRED SECURITIES/CAPITAL SECURITIES - 0.3%
Banks-Super Regional - 0.3%
PNC Financial Services Group, Inc. 6.75% due 08/01/2021(1)	$	250,000	270,437
Wells Fargo & Co. FRS 6.10% (3 ML+3.77%) due 12/15/2018(1)		250,000	253,360
Total Preferred Securities/Capital Securities
(cost $482,352)			523,797

ASSET BACKED SECURITIES - 4.7%
Diversified Financial Services - 4.7%
ACE Securities Corp. Mtg. Loan Trust Series 2007-D1, Class A4 6.93% due 02/25/2038*	89,364	84,773
Ally Master Owner Trust Series 2018-1, Class A2 2.70% due 01/17/2023	250,000	247,404
AmeriCredit Automobile Receivables Trust Series 2014-2, Class C 2.18% due 06/08/2020	36,323	36,315
BMW Floorplan Master Owner Trust FRS Series 2018-1, Class A2 2.48% (3 ML+0.32%) due 05/15/2023*	250,000	250,323
Capital Auto Receivables Asset Trust Series 2018-1, Class A2A 2.54% due 10/20/2020*	217,165	217,013
CFCRE Commercial Mtg. Trust Series 2016-C7, Class A3 3.84% due 12/10/2054(3)	200,000	200,046
Citigroup Mtg. Loan Trust VRS Series 2015-PS1, Class B1 5.25% due 09/25/2042*(2)(4)	263,830	277,830
COMM Mtg. Trust VRS Series 2014-UBS3, Class C 4.94% due 06/10/2047(2)(3)	250,000	246,847
CPS Auto Receivables Trust Series 2015-A, Class B 2.79% due 02/16/2021*	100,288	100,301
Credit Suisse First Boston Mtg. Securities Corp. FRS Series 2004-AR4, Class 5A4 3.18% (1 ML+0.96%) due 05/25/2034(4)	5,047	5,024
CSMC Trust VRS Series 2015-1, Class B2 3.94% due 01/25/2045*(2)(4)	92,196	89,388
Drug Royalty II LP 2 Series 2014-1, Class A2 3.48% due 07/15/2023*	227,952	227,249
Ford Credit Auto Owner Trust Series 2016-2, Class A 2.03% due 12/15/2027*	250,000	241,798
GS Mtg. Securities Trust Series 2017-GS6, Class A1 1.95% due 05/10/2050(3)	280,325	272,746
GS Mtg. Securities Trust VRS Series 2013-GC12, Class C 4.18% due 06/10/2046(2)(3)	200,000	193,108
GS Mtg. Securities Trust Series 2013-GC14, Class AS 4.51% due 08/10/2046*(3)	230,000	237,941
GS Mtg. Securities Trust VRS Series 2014-GC20, Class C 5.13% due 04/10/2047(2)(3)	200,000	198,139
GS Mtg. Securities Trust VRS Series 2011-GC5, Class D 5.56% due 08/10/2044*(2)(3)	200,000	196,213
JPMorgan Mtg. Trust VRS Series 2016-4, Class A13 3.50% due 10/25/2046*(2)(4)	183,719	178,564
JPMorgan Mtg.Trust VRS Series 2016-4, Class A5 3.50% due 10/25/2046*(2)(4)	68,733	67,618
JPMorgan Mtg. Trust VRS Series 2017-4, Class A5 3.50% due 11/25/2048*(2)(4)	211,138	208,360
JPMorgan Mtg. Trust VRS Series 2017-3, Class B2 3.87% due 08/25/2047*(2)(4)	189,046	178,932
JPMorgan Mtg. Trust VRS Series 2018-8, Class A13 4.00% due 01/25/2049*(2)(4)	99,379	98,113
KeyCorp. Student Loan Trust FRS Series 2006-A, Class 2A4 2.69% (3 ML+0.31%) due 09/27/2035	59,307	59,314
KeyCorp. Student Loan Trust FRS Series 2004-A, Class 2B 2.87% (3 ML+0.53%) due 01/27/2042	31,445	31,452
MVW Owner Trust Series 2015-1A, Class A 2.52% due 12/20/2032*	91,859	89,922
New Residential Mtg. Loan Trust VRS Series 2016-4A, Class B1A 4.50% due 11/25/2056*(2)(4)	93,039	94,295
New Residential Mtg. Loan Trust VRS Series 2015-2A, Class B3 5.56% due 08/25/2055*(2)(4)	83,051	87,498
Residential Accredit Loans, Inc. Series 2003-QS23, Class A1 5.00% due 12/26/2018(4)	1,041	1,039
Santander Drive Auto Receivables Trust Series 2015-1, Class C 2.57% due 04/15/2021	54,127	54,115
Santander Drive Auto Receivables Trust Series 2018-3, Class A2A 2.78% due 03/15/2021	250,000	250,012
Sequoia Mtg. Trust VRS Series 2013-4, Class A3 1.55% due 04/25/2043(2)(4)	105,275	99,351
Sequoia Mtg. Trust VRS Series 2017-5, Class A19 3.50% due 08/25/2047*(2)(4)	88,659	85,684
Sequoia Mtg. Trust VRS Series 2018-5, Class A4 3.50% due 05/25/2048*(2)(4)	240,563	236,963

Sequoia Mtg. Trust VRS Series 2018-5, Class A19 3.50% due 05/25/2048*(2)(4)	194,338	186,412
Sequoia Mtg. Trust VRS Series 2013-2, Class B1 3.64% due 02/25/2043(2)(4)	86,959	85,534
SLM Private Credit Student Loan Trust FRS Series 2006-BW, Class A5 2.53% (3 ML+0.20%) due 12/15/2039	134,377	132,391
SLM Private Credit Student Loan Trust FRS Series 2002-A, Class A2 2.88% (3 ML+0.55%) due 12/16/2030	131,576	131,259
SMB Private Education Loan Trust FRS Series 2016-C, Class A1 2.71% (1 ML+0.55%) due 11/15/2023*	17,206	17,209
Towd Point Mtg. Trust VRS Series 2015-1, Class A4 4.25% due 10/25/2053*(2)	150,000	152,647
Trafigura Securitisation Finance PLC FRS Series 2017-1A, Class A1 3.01% (1 ML+0.85%) due 12/15/2020*	300,000	300,302
UBS-Barclays Commercial Mtg. Trust Series 2013-C5, Class AS 3.35% due 03/10/2046*(3)	200,000	194,696
Verizon Owner Trust Series 2017-1A, Class A 2.06% due 09/20/2021*	250,000	247,731
Wells Fargo Commercial Mtg. Trust VRS Series 2016-LC25, Class B 4.58% due 12/15/2059(2)(3)	300,000	303,936
Wells Fargo Commercial Mtg. Trust VRS Series 2015-C31, Class C 4.76% due 11/15/2048(2)(3)	300,000	300,171
Westlake Automobile Receivables Trust Series 2017-2A, Class A2A 1.80% due 07/15/2020*	119,680	119,393
WFRBS Commercial Mtg. Trust VRS Series 2014-C22, Class D 4.05% due 09/15/2057*(2)(3)	160,000	128,289
WFRBS Commercial Mtg. Trust VRS Series 2013-C14, Class D 4.11% due 06/15/2046*(2)(3)	300,000	273,207
WFRBS Commercial Mtg. Trust VRS Series 2014-LC14, Class C 4.34% due 03/15/2047(2)(3)	300,000	291,113
WFRBS Commercial Mtg. Trust VRS Series 2014-C20, Class C 4.51% due 05/15/2047(2)(3)	300,000	289,539
WFRBS Commercial Mtg. Trust VRS Series 2014-C23, Class B 4.52% due 10/15/2057(2)(3)	300,000	306,459
Total Asset Backed Securities
(cost $8,802,438)		8,603,978
U.S. CORPORATE BONDS & NOTES - 20.6%
Aerospace/Defense - 0.1%
Lockheed Martin Corp. Senior Notes 4.07% due 12/15/2042	250,000	243,011
Aerospace/Defense-Equipment - 0.1%
United Technologies Corp. Senior Notes 1.90% due 05/04/2020	250,000	244,918
Airlines - 0.4%
American Airlines Pass-Through Trust Pass-Through Certs. Series 2013-2, Class A 4.95% due 07/15/2024	249,900	256,057
Delta Air Lines Pass Through Trust Pass-Through Certs. Series 2009-1, Class A 7.75% due 06/17/2021	106,139	110,870
US Airways Pass Through Trust Pass-Through Certs. Series 2012-2, Class B 6.75% due 12/03/2022	373,768	394,176
		761,103
Apparel Manufacturers - 0.1%
Under Armour, Inc. Senior Notes 3.25% due 06/15/2026	250,000	220,318
Auto-Cars/Light Trucks - 0.4%
American Honda Finance Corp. Senior Notes 2.30% due 09/09/2026	250,000	225,492
American Honda Finance Corp. Senior Notes 3.88% due 09/21/2020*	250,000	253,293
Toyota Motor Credit Corp. Senior Notes 2.10% due 01/17/2019	250,000	249,784
		728,569
Banks-Commercial - 0.3%
PNC Bank NA Senior Notes 2.00% due 05/19/2020	250,000	245,476
PNC Bank NA Senior Notes 3.10% due 10/25/2027	250,000	235,597
		481,073

Banks-Fiduciary - 0.4%
Bank of New York Mellon Corp. Senior Notes 2.20% due 08/16/2023	500,000	469,481
State Street Corp. Sub. Notes 3.10% due 05/15/2023	250,000	244,475
		713,956
Banks-Super Regional - 1.1%
SunTrust Banks, Inc. Senior Notes 2.70% due 01/27/2022	500,000	486,538
SunTrust Banks, Inc. Senior Notes 2.90% due 03/03/2021	250,000	247,137
US Bancorp Senior Notes 3.00% due 03/15/2022	250,000	247,238
US Bancorp Sub. Notes 3.60% due 09/11/2024	500,000	495,524
Wells Fargo & Co. Senior Notes 2.60% due 07/22/2020	250,000	247,520
Wells Fargo & Co. Senior Notes 3.58% due 05/22/2028	250,000	239,869
		1,963,826
Beverages-Non-alcoholic - 0.1%
PepsiCo, Inc. Senior Notes 1.35% due 10/04/2019	250,000	246,562
Brewery - 0.3%
Anheuser-Busch InBev Finance, Inc. Company Guar. Notes 4.70% due 02/01/2036	500,000	500,671
Cable/Satellite TV - 0.3%
Comcast Corp. Company Guar. Notes 3.30% due 02/01/2027	250,000	236,314
Time Warner Cable LLC Senior Sec. Notes 6.55% due 05/01/2037	250,000	271,192
		507,506
Casino Hotels - 0.2%
Boyd Gaming Corp. Company Guar. Notes 6.88% due 05/15/2023	250,000	262,625
Cellular Telecom - 0.6%
Crown Castle Towers LLC Senior Sec. Notes 4.24% due 07/15/2048*	250,000	252,293
Sprint Corp. Company Guar. Notes 7.88% due 09/15/2023	250,000	269,687
T-Mobile USA, Inc. Company Guar. Notes 6.38% due 03/01/2025	500,000	520,900
		1,042,880
Chemicals-Diversified - 0.3%
Westlake Chemical Corp. Company Guar. Notes 3.60% due 07/15/2022	218,000	214,428
Westlake Chemical Corp. Company Guar. Notes 3.60% due 08/15/2026	250,000	235,112
		449,540
Computer Services - 0.1%
International Business Machines Corp. Senior Notes 1.95% due 02/12/2019	250,000	249,531
Computers - 0.3%
Apple, Inc. Senior Notes 2.40% due 05/03/2023	250,000	240,354
Apple, Inc. Senior Notes 3.20% due 05/11/2027	250,000	241,706
		482,060
Containers-Paper/Plastic - 0.4%
Graphic Packaging International, Inc. Company Guar. Notes 4.88% due 11/15/2022	500,000	502,500
Sealed Air Corp. Company Guar. Notes 6.88% due 07/15/2033*	250,000	268,750
		771,250
Diversified Banking Institutions - 2.0%
Bank of America Corp. Senior Notes 2.88% due 04/24/2023	250,000	243,093
Bank of America Corp. Senior Notes 3.50% due 04/19/2026	250,000	241,703
Bank of America Corp. FRS Senior Notes 3.51% (3 ML+1.16%) due 01/20/2023	250,000	254,228
Citigroup, Inc. FRS Senior Notes 3.75% (3 ML+1.43%) due 09/01/2023	200,000	204,726

Citigroup, Inc. Sub. Notes 4.45% due 09/29/2027	500,000	494,223
Goldman Sachs Group, Inc. FRS Senior Notes 3.44% (3 ML+1.11%) due 04/26/2022	250,000	252,956
Goldman Sachs Group, Inc. Senior Notes 5.25% due 07/27/2021	500,000	523,499
JPMorgan Chase & Co. Senior Notes 3.54% due 05/01/2028	250,000	238,787
JPMorgan Chase & Co. Senior Notes 3.63% due 05/13/2024	250,000	247,787
JPMorgan Chase & Co. Senior Notes 4.25% due 10/15/2020	250,000	254,825
Morgan Stanley FRS Senior Notes 3.75% (3 ML+1.40%) due 04/21/2021	250,000	256,270
Morgan Stanley Senior Notes 4.00% due 07/23/2025	250,000	249,167
Morgan Stanley Senior Notes 6.25% due 08/09/2026	250,000	281,034
		3,742,298
Diversified Manufacturing Operations - 0.1%
General Electric Capital Corp. Sub. Notes 5.30% due 02/11/2021	144,000	150,054
E-Commerce/Products - 0.4%
Amazon.com, Inc. Senior Notes 2.40% due 02/22/2023	250,000	240,528
Amazon.com, Inc. Senior Notes 4.05% due 08/22/2047	500,000	492,534
		733,062
Electric-Distribution - 0.3%
Entergy Louisiana LLC Collateral Trust Bonds 4.00% due 03/15/2033	500,000	501,209
Electric-Generation - 0.1%
Indiantown Cogeneration LP 1st Mtg. Notes 9.77% due 12/15/2020	74,548	79,374
Electric-Integrated - 1.4%
Black Hills Corp. Senior Notes 2.50% due 01/11/2019	250,000	249,712
Black Hills Corp. Senior Notes 4.20% due 09/15/2046	500,000	461,142
Dominion Resources, Inc. Junior Sub. Notes 2.96% due 07/01/2019	200,000	199,900
PacifiCorp 1st Mtg. Notes 5.25% due 06/15/2035	500,000	561,239
PPL Electric Utilities Corp. 1st Mtg. Notes 3.95% due 06/01/2047	250,000	240,912
PPL Energy Supply LLC Senior Notes 4.60% due 12/15/2021	1,000,000	855,000
		2,567,905
Electric-Transmission - 0.3%
Oncor Electric Delivery Co. LLC Senior Sec. Notes 7.00% due 09/01/2022	500,000	565,329
Electronic Components-Misc. - 0.1%
Corning, Inc. Senior Notes 4.75% due 03/15/2042	250,000	249,504
Enterprise Software/Service - 0.4%
Oracle Corp. Senior Notes 1.90% due 09/15/2021	250,000	241,381
Oracle Corp. Senior Notes 3.25% due 11/15/2027	250,000	240,553
Oracle Corp. Senior Notes 3.40% due 07/08/2024	250,000	247,843
		729,777
Finance-Commercial - 0.1%
Jefferies Finance LLC/JFIN Co-Issuer Corp. Senior Notes 7.38% due 04/01/2020*	250,000	254,062
Finance-Investment Banker/Broker - 0.1%
Jefferies Group LLC Senior Notes 4.85% due 01/15/2027	250,000	245,800
Finance-Other Services - 0.1%
GTP Acquisition Partners I LLC Sec. Notes 2.35% due 06/15/2045*	250,000	244,492
Food-Misc./Diversified - 0.1%
Kraft Heinz Foods Co. Company Guar. Notes 3.95% due 07/15/2025	250,000	246,357

Gas-Distribution - 0.2%
NiSource, Inc. Senior Notes 6.25% due 12/15/2040	250,000	289,752
Home Decoration Products - 0.1%
Newell Brands, Inc. Senior Notes 4.20% due 04/01/2026	250,000	237,777
Hotels/Motels - 0.3%
Choice Hotels International, Inc. Company Guar. Notes 5.75% due 07/01/2022	500,000	527,500
Independent Power Producers - 0.2%
GenOn Energy, Inc. Senior Notes 9.88% due 10/15/2020†(9)(10)	500,000	337,500
Insurance-Mutual - 0.3%
MassMutual Global Funding II Senior Sec. Notes 2.35% due 04/09/2019*	250,000	249,526
New York Life Global Funding Sec. Notes 2.15% due 06/18/2019*	250,000	249,021
		498,547
Medical Instruments - 0.4%
Medtronic, Inc. Company Guar. Notes 2.50% due 03/15/2020	250,000	248,335
Medtronic, Inc. Company Guar. Notes 4.38% due 03/15/2035	500,000	517,087
		765,422
Medical Labs & Testing Services - 0.1%
Roche Holdings, Inc. FRS Company Guar. Notes 2.73% (3 ML+0.34%) due 09/30/2019*	250,000	250,748
Medical-Biomedical/Gene - 0.8%
Amgen, Inc. Senior Notes 2.20% due 05/22/2019	250,000	249,090
Amgen, Inc. Senior Notes 3.88% due 11/15/2021	250,000	253,593
Celgene Corp. Senior Notes 3.45% due 11/15/2027	500,000	466,768
Gilead Sciences, Inc. Senior Notes 3.50% due 02/01/2025	250,000	245,615
Gilead Sciences, Inc. Senior Notes 4.40% due 12/01/2021	250,000	258,177
		1,473,243
Medical-Drugs - 0.1%
AbbVie, Inc. Senior Notes 2.90% due 11/06/2022	250,000	242,877
Medical-Hospitals - 0.6%
HCA, Inc. Company Guar. Notes 5.88% due 05/01/2023	500,000	527,500
Surgery Center Holdings, Inc. Company Guar. Notes 8.88% due 04/15/2021*	500,000	520,625
		1,048,125
Non-Hazardous Waste Disposal - 0.4%
Advanced Disposal Services, Inc. Company Guar. Notes 5.63% due 11/15/2024*	250,000	251,875
Republic Services, Inc. Senior Notes 5.25% due 11/15/2021	250,000	263,059
Waste Pro USA, Inc. Senior Notes 5.50% due 02/15/2026*	250,000	244,375
		759,309
Office Automation & Equipment - 0.3%
CDW LLC/CDW Finance Corp. Company Guar. Notes 5.50% due 12/01/2024	500,000	517,500
Oil & Gas Drilling - 0.4%
Nabors Industries, Inc. Company Guar. Notes 5.10% due 09/15/2023	500,000	476,678
Rowan Cos., Inc. Company Guar. Notes 4.75% due 01/15/2024	250,000	223,125
		699,803
Oil Companies-Exploration & Production - 0.3%
W&T Offshore, Inc. Sec. Notes 10.00% due 06/15/2021*(5)	169,876	174,972
W&T Offshore, Inc. Sec. Notes 10.75% due 05/15/2020*(5)	186,664	187,598
Whiting Petroleum Corp. Company Guar. Notes 5.75% due 03/15/2021	250,000	256,250
		618,820
Oil Refining & Marketing - 0.1%
Phillips 66 Company Guar. Notes 4.30% due 04/01/2022	250,000	257,068

Oil-Field Services - 0.3%
Exterran Partners LP/EXLP Finance Corp. Company Guar. Notes 6.00% due 04/01/2021	500,000	502,500
Pharmacy Services - 0.3%
CVS Health Corp. Senior Notes 4.30% due 03/25/2028	500,000	496,079
Physical Therapy/Rehabilitation Centers - 0.4%
HealthSouth Corp. Company Guar. Notes 5.75% due 11/01/2024	750,000	755,625
Pipelines - 1.4%
Buckeye Partners LP Senior Notes 4.13% due 12/01/2027	250,000	231,054
Columbia Pipeline Group, Inc. Company Guar. Notes 3.30% due 06/01/2020	250,000	249,585
Columbia Pipeline Group, Inc. Company Guar. Notes 5.80% due 06/01/2045	250,000	278,206
El Paso Natural Gas Co. LLC Company Guar. Notes 7.50% due 11/15/2026	500,000	595,324
NGPL PipeCo LLC Senior Notes 4.38% due 08/15/2022*	500,000	503,750
Plains All American Pipeline LP/PAA Finance Corp. Senior Notes 4.50% due 12/15/2026	500,000	499,491
Southeast Supply Header LLC Senior Notes 4.25% due 06/15/2024*	250,000	249,011
		2,606,421
Real Estate Investment Trusts - 1.3%
Alexandria Real Estate Equities, Inc. Company Guar. Notes 2.75% due 01/15/2020	200,000	198,182
Alexandria Real Estate Equities, Inc. Company Guar. Notes 4.60% due 04/01/2022	250,000	256,599
CubeSmart LP Company Guar. Notes 4.80% due 07/15/2022	250,000	257,056
Hospitality Properties Trust Senior Notes 4.65% due 03/15/2024	250,000	248,498
Hospitality Properties Trust Senior Notes 5.00% due 08/15/2022	250,000	256,106
Omega Healthcare Investors, Inc. Company Guar. Notes 5.25% due 01/15/2026	250,000	253,148
Physicians Realty LP Company Guar. Notes 4.30% due 03/15/2027	500,000	481,583
Simon Property Group LP Senior Notes 4.13% due 12/01/2021	250,000	255,077
Ventas Realty LP/Ventas Capital Corp. Company Guar. Notes 3.25% due 08/15/2022	250,000	245,279
		2,451,528
Rental Auto/Equipment - 0.1%
ERAC USA Finance LLC Senior Notes 4.50% due 08/16/2021*	250,000	255,590
Savings & Loans/Thrifts - 0.0%
Washington Mutual Bank Escrow Notes 5.50% due 01/15/2013†(6)(7)	125,000	0
Steel-Specialty - 0.4%
Allegheny Technologies, Inc. Senior Notes 6.38% due 08/15/2023	750,000	802,500
Storage/Warehousing - 0.3%
Mobile Mini, Inc. Company Guar. Notes 5.88% due 07/01/2024	500,000	507,500
Telecom Services - 0.3%
Qwest Corp. Senior Notes 6.75% due 12/01/2021	500,000	533,623
Telephone-Integrated - 0.1%
Sprint Capital Corp. Company Guar. Notes 6.90% due 05/01/2019	250,000	254,062
Web Hosting/Design - 0.1%
VeriSign, Inc. Senior Notes 5.25% due 04/01/2025	250,000	254,687
Total U.S. Corporate Bonds & Notes
(cost $38,111,730)		38,122,728
FOREIGN CORPORATE BONDS & NOTES - 1.6%
Agricultural Chemicals - 0.1%
OCI NV Senior Sec. Notes 6.63% due 04/15/2023*	200,000	207,000
Banks-Commercial - 0.1%
ING Groep NV Senior Notes 3.15% due 03/29/2022	250,000	243,855

Cellular Telecom - 0.2%
Vodafone Group PLC FRS Senior Notes 3.33% (3 ML+0.99%) due 01/16/2024	250,000	250,609
Diversified Banking Institutions - 0.1%
UBS Group Funding Switzerland AG Company Guar. Notes 3.49% due 05/23/2023*	250,000	244,965
Diversified Financial Services - 0.2%
GE Capital International Funding Co. ULC Company Guar. Notes 2.34% due 11/15/2020	413,000	403,549
Electric-Integrated - 0.1%
TransAlta Corp. Senior Notes 4.50% due 11/15/2022	250,000	244,406
Oil Companies-Integrated - 0.7%
BP Capital Markets PLC Company Guar. Notes 4.75% due 03/10/2019	750,000	756,974
Suncor Energy, Inc. Senior Notes 4.00% due 11/15/2047	500,000	469,183
		1,226,157
Oil-Field Services - 0.1%
Weatherford International, Ltd. Company Guar. Notes 4.50% due 04/15/2022	250,000	218,750
Total Foreign Corporate Bonds & Notes
(cost $3,083,122)		3,039,291
U.S. GOVERNMENT AGENCIES - 9.2%
Federal Home Loan Mtg. Corp. - 2.6%
3.00% due 04/01/2035	51,831	50,847
3.00% due 09/01/2035	68,112	66,417
3.00% due 10/01/2042	291,053	281,268
3.00% due 05/01/2043	122,402	118,151
3.00% due 07/01/2045	150,264	144,562
3.00% due 01/01/2047	106,632	102,684
3.50% due 07/01/2042	108,117	107,245
3.50% due 10/01/2042	105,272	104,431
3.50% due 08/01/2043	176,853	175,428
3.50% due 02/01/2044	163,000	161,340
3.50% due 08/01/2045	209,494	207,579
3.50% due 07/01/2046	78,810	78,090
3.50% due 01/01/2047	218,836	216,367
4.00% due 10/01/2045	187,853	191,392
4.00% due 08/01/2047	200,131	203,625
4.00% due 01/01/2048	125,118	127,439
4.00% due 06/01/2048	193,933	197,361
4.50% due 11/01/2043	106,918	112,156
5.00% due 01/01/2034	49,503	52,539
5.00% due 04/01/2035	43,866	46,556
5.00% due 03/01/2048	93,707	100,415
6.00% due 05/01/2031	10,493	11,604
6.00% due 09/01/2032	2,068	2,247
7.50% due 12/01/2030	12,909	13,276
7.50% due 01/01/2031	17,248	18,381
7.50% due 02/01/2031	1,855	2,025
Federal Home Loan Mtg. Corp. Multifamily Mtg. Trust REMIC Series K074, Class A2 3.60% due 01/25/2028(3)	160,000	159,901
Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs. VRS Series K069, Class A2 3.19% due 09/25/2027(2)(3)	70,000	67,933
Series K075, Class A2 3.65% due 02/25/2028(2)(3)	50,000	50,321
Series K076, Class A2 3.90% due 06/25/2051(3)	50,000	51,156
Federal Home Loan Mtg. Corp. Multifamily Structured Pass Through Certs.
Series K058, Class A2 2.65% due 08/25/2026(3)	120,000	113,332
Series K071, Class A2 3.29% due 11/25/2027(3)	100,000	97,762
Series K072, Class A2 3.44% due 12/25/2027(3)	160,000	158,109
Federal Home Loan Mtg. Corp. REMIC
Series 4127, Class EJ 2.50% due 11/15/2032(4)	103,635	98,433
Series 4033, Class ED 2.50% due 10/15/2036(4)	133,663	131,251
Series 4097, Class HI 3.00% due 08/15/2027(4)(8)	626,984	59,775
Series 4579, Class BA 3.00% due 01/15/2043(4)	107,918	105,757
Series 4343, Class DI 3.50% due 08/15/2040(4)(8)	285,220	34,412
Series 4121, Class UI 3.50% due 10/15/2042(4)(8)	409,282	82,558
Series 4650, Class CA 3.50% due 05/15/2043(4)	42,459	42,674
Series 4648, Class E 3.50% due 08/15/2043(4)	73,741	73,222

Series 4673, Class NT 3.50% due 09/15/2043(4)	120,000	117,019
Series 3924, Class LB 4.00% due 05/15/2039(4)	200,000	202,218
Series 4135, Class DI 4.00% due 11/15/2042(4)(8)	226,196	40,125
Series 2015-4440, Class ZX 4.00% due 01/15/2045(4)	115,384	117,471
Series 4463, Class ZA 4.00% due 04/15/2045(4)	57,309	57,431
Federal Home Loan Mtg. Corp. STRIPS Series 2012-276, Class 40 4.00% due 09/15/2042(4)	92,748	94,670
		4,848,955
Federal National Mtg. Assoc. - 5.1%
1.50% due 06/22/2020	100,000	97,865
2.00% due 01/05/2022	500,000	485,566
2.00% due 02/01/2032	212,826	199,639
2.38% due 01/19/2023	250,000	243,717
2.50% due 06/01/2027	116,397	113,233
2.50% due 08/01/2028	131,026	127,383
2.50% due 03/01/2030	90,204	87,442
3.00% due 04/01/2027	36,093	35,866
3.00% due 05/01/2029	47,096	46,683
3.00% due 03/01/2030	103,103	102,199
3.00% due 08/01/2031	149,831	148,516
3.00% due 10/01/2036	106,049	103,409
3.00% due 10/01/2042	109,043	105,354
3.00% due 11/01/2042	178,904	172,811
3.00% due 12/01/2042	258,630	249,743
3.00% due 02/01/2043	98,322	94,926
3.00% due 04/01/2043	147,216	141,870
3.00% due 06/01/2043	178,856	172,743
3.00% due 08/01/2043	141,675	136,817
3.00% due 07/01/2046	211,974	203,206
3.00% due 12/01/2046	87,551	83,928
3.50% due 08/01/2031	72,230	72,766
3.50% due 02/01/2033	130,186	131,197
3.50% due 01/01/2036	160,230	160,346
3.50% due 09/01/2042	115,166	114,233
3.50% due 11/01/2042	152,305	151,072
3.50% due 02/01/2043	54,899	54,516
3.50% due 05/01/2043	125,457	124,579
3.50% due 09/01/2044	80,864	80,297
3.50% due 11/01/2044	130,589	130,158
3.50% due 03/01/2045	127,656	126,197
3.50% due 06/01/2045	69,396	68,909
3.50% due 09/01/2045	70,543	69,731
3.50% due 11/01/2045	154,179	152,623
3.50% due 03/01/2046	99,676	98,873
3.50% due 04/01/2046	156,818	155,456
3.50% due 03/01/2047	153,892	152,384
3.50% due 10/01/2047	187,789	185,429
4.00% due 09/01/2040	143,782	146,291
4.00% due 08/01/2043	161,994	165,485
4.00% due 04/01/2044	180,651	184,545
4.00% due 08/01/2044	121,702	124,321
4.00% due 10/01/2044	166,490	168,954
4.00% due 12/01/2044	96,859	98,947
4.00% due 09/01/2045	74,160	75,722
4.00% due 05/01/2046	184,580	188,149
4.00% due 07/01/2046	81,504	82,992
4.00% due 07/01/2047	89,476	91,121
4.00% due 10/01/2047	91,586	93,202
4.00% due 12/01/2047	93,085	94,814
4.00% due 02/01/2048	95,466	97,090
4.50% due 03/01/2041	171,480	178,449
4.50% due 09/01/2043	337,908	354,271
4.50% due 12/01/2044	153,774	161,221
4.50% due 11/01/2045	170,119	177,870
5.00% due 02/01/2040	124,874	133,442
5.00% due 07/01/2041	150,682	160,956
5.00% due 02/01/2044	144,175	153,541
6.00% due 05/01/2031	4,748	5,218
6.50% due 06/01/2019	407	446
6.50% due 09/01/2024	8,989	9,855
6.50% due 09/01/2025	2,185	2,395
6.50% due 11/01/2025	3,144	3,447
6.50% due 05/01/2026	9,243	10,134
6.50% due 11/01/2027	140	153
6.50% due 01/01/2032	3,074	3,370
7.00% due 05/01/2029	4,107	4,489
7.00% due 09/01/2029	4,891	4,944
7.00% due 01/01/2031	1,884	1,956
7.50% due 01/01/2031	5,194	5,447
7.50% due 02/01/2031	1,331	1,358
Federal National Mtg. Assoc. REMIC VRS Series 2015-38, Class AS 1.59% due 06/25/2045(2)(4)(8)	352,591	18,411
Federal National Mtg. Assoc. REMIC
Series 2012-122, Class AD 2.00% due 02/25/2040(4)	38,110	36,501
Series 2013-2, Class BI 2.50% due 02/25/2028(4)(8)	377,697	28,639
Series 2017-54, Class IO 3.00% due 07/25/2032(4)(8)	336,650	43,884
Series 2016-92, Class A 3.00% due 04/25/2042(4)	86,694	83,713
Series 2016-100, Class DA 3.00% due 02/25/2043(4)	63,644	62,103
Series 2016-38, Class NA 3.00% due 01/25/2046(4)	205,277	199,943
Series 2016-30, Class IL 3.50% due 04/25/2034(4)(8)	723,061	96,120
Series 2016-4, Class LI 3.50% due 02/25/2036(4)(8)	439,325	71,887
Series 2015-20, Class EH 3.50% due 11/25/2042(4)	200,000	200,605
Series 2017-66, Class C 3.50% due 08/25/2045(4)	60,000	57,232
Series 2015-12, Class BY 4.00% due 03/25/2045(4)	100,000	103,562
Series 2017-22, Class DZ 4.00% due 04/25/2047(4)	74,321	75,294
Series 2015-18, Class IA 4.50% due 04/25/2045(4)(8)	371,803	89,907
Series 2002-16, Class TM 7.00% due 04/25/2032(4)	66,791	73,641
		9,407,719

Government National Mtg. Assoc. - 1.5%
3.00% due 11/15/2042	235,948			229,622
3.00% due 02/15/2043	170,905			166,331
3.50% due 09/15/2042	131,769			131,624
3.50% due 05/15/2043	66,700			66,627
3.50% due 09/20/2045	129,523			129,098
3.50% due 06/20/2046	163,950			163,258
3.50% due 05/20/2047	94,654			94,795
3.50% due 11/20/2047	98,405			97,914
4.00% due 10/20/2044	138,898			141,779
4.00% due 07/20/2047	95,773			98,139
4.50% due 05/15/2039	39,936			41,674
5.50% due 07/20/2033	75,491			81,330
6.00% due 07/20/2033	52,285			57,085
6.50% due 12/15/2023	7,558			8,291
6.50% due 03/20/2027	443			445
6.50% due 04/20/2027	6,271			6,436
7.00% due 12/15/2022	1,566			1,569
7.00% due 05/15/2023	354			354
7.00% due 12/15/2023	1,651			1,740
7.00% due 04/15/2028	8,989			9,158
7.50% due 08/15/2030	12,070			12,232
7.50% due 09/15/2030	3,924			4,026
7.50% due 11/15/2030	1			1
7.50% due 01/15/2031	9,258			10,107
Government National Mtg. Assoc. REMIC VRS
Series 2018-99, Class IO 0.52% due 06/16/2060(2)(3)(8)	399,281			23,697
Series 2017-157, Class IO 0.57% due 12/16/2059(2)(3)(8)	986,169			56,885
Series 2013-101, Class IO 0.61% due 10/16/2054(2)(3)(8)	2,058,656			63,115
Series 2013-57, Class IO 0.70% due 06/16/2054(2)(3)(8)	2,121,387			67,173
Series 2013-30, Class IO 0.80% due 09/16/2053(2)(3)(8)	1,340,256			56,251
Series 2012-139, Class IO 0.81% due 02/16/2053(2)(3)(8)	3,382,224			176,147
Series 2013-40, Class IO 0.82% due 06/16/2054(2)(3)(8)	1,049,489			43,202
Series 2014-135, Class IO 0.83% due 01/16/2056(2)(3)(8)	698,425			36,740
Series 2013-80, Class IO 0.84% due 03/16/2052(2)(3)(8)	1,374,632			75,871
Series 2013-68, Class IO 0.88% due 02/16/2046(2)(3)(8)	1,064,247			51,856
Government National Mtg. Assoc. REMIC
Series 2017-51, Class AH 2.60% due 05/16/2059(3)	98,196			92,032
Series 2017-190, Class AD 2.60% due 03/16/2060(3)	98,863			92,584
Series 2017-56, Class NZ 3.00% due 04/20/2047(4)	52,168			43,750
Series 2015-63, Class ZB 3.25% due 05/20/2045(4)	89,565			86,641
Series 2012-3, Class LA 3.50% due 03/20/2038(4)	47,323			47,461
Series 2017-45, Class KI 4.00% due 10/20/2043(4)(8)	658,315			101,024
				2,668,064
Total U.S. Government Agencies
(cost $17,778,737)				16,924,738
U.S. GOVERNMENT TREASURIES - 0.7%
United States Treasury Bonds - 0.4%
2.25% due 08/15/2046	250,000			206,445
3.00% due 11/15/2044	250,000			241,318
4.25% due 11/15/2040	165,000			193,089
5.25% due 11/15/2028	100,000			118,942
6.25% due 08/15/2023	80,000			91,956
				851,750
United States Treasury Notes - 0.3%
1.13% due 03/31/2020	70,000			68,324
1.88% due 08/31/2022	250,000			240,283
2.13% due 12/31/2022	80,000			77,403
3.13% due 05/15/2021	100,000			100,633
				486,643
Total U.S. Government Treasuries
(cost $1,451,485)				1,338,393
LOANS(11)(12)(13) - 0.4%
Computer Software - 0.3%
Ivanti Software, Inc. FRS 2nd Lien 11.08% (1 ML+2.08%) due 01/20/2025	500,000			481,666
Pipelines - 0.1%
BCP Renaissance Parent LLC FRS BTL-B 5.84% (3 ML+2.34%) due 10/31/2024	250,000			251,429
Total Loans
(cost $742,973)				733,095
Total Long-Term Investment Securities
(cost $161,053,006)				177,316,860
REPURCHASE AGREEMENTS - 3.8%
Agreement with Fixed Income Clearing Corp., bearing interest at 0.42%, dated 09/28/2018, to be repurchased 10/01/2018 in the amount of $6,930,243 collateralized by $7,120,000 of United States Treasury Notes, bearing interest at 3.13% due 08/15/2044 and having an approximate value of $7,071,527 (cost $6,930,000)	6,930,000			6,930,000
TOTAL INVESTMENTS
(cost $167,983,006)	99.8	%		184,246,860
Other assets less liabilities	0.2			400,795
NET ASSETS	100.0	%	$	184,647,655

# Subsequent to September 30, 2018, the SA Edge Asset Allocation Portfolio changed its name to SA PGI Asset Allocation Portfolio effective on October 15, 2018.

† Non-income producing security

* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Portfolio has no right to demand registration of these securities. At September 30, 2018, the aggregate value of these securities was $9,730,610 representing 5.3% of net assets. Unless otherwise indicated, these securities are not considered to be illiquid.

(1) Perpetual maturity - maturity date reflects the next call date.

(2) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(3) Commercial Mortgage Backed Security

(4) Collateralized Mortgage Obligation

(5) PIK (“Payment-in-Kind”) security - Income may be paid in additional securities or cash at the discretion of the issuer. The security is currently paying interest in the form of additional securities at the coupon rate listed.

(6) Securities classified as Level 3 (see Note 1).

(7) Illiquid security. At September 30, 2018, the aggregate value of these securities was $0 representing 0.0% of net assets.

(8) Interest Only

(9) Security in default of interest.

(10) Company has filed for bankruptcy protection.

(11) Senior loans in the Portfolio are generally subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments may occur. As a result, the actual remaining maturity may be substantially less than the stated maturities shown.

(12) The Portfolio invests in senior loans which generally pay interest at rates which are periodically re-determined by reference to a base lending rate plus a premium. These base lending rates are generally either the lending rate offered by one or more major European banks, such as the London Inter-Bank Offer Rate (“LIBOR) or the prime rate offered by one or more major United States banks, or the certificate of deposit rate. Senior loans are generally considered to be restrictive in that the Fund is ordinarily contractually obligated to receive approval from the Agent Bank and/or borrower prior to the disposition of a senior loan.

(13) All loans in the Portfolio were purchased through assignment agreements unless otherwise indicated.

ADR  -  American Depositary Receipt

ETF  -  Exchange-Traded Fund

NYSE  -  New York Stock Exchange

REMIC  -  Real Estate Mortgage Investment Conduit

STRIPS  -  Separate trading of registered interest and principal of securities

TSX  -  Toronto Stock Exchange

ULC  -  Unlimited Liability Corp.

FRS  -  Floating Rate Security

VRS  -  Variable Rate Security

The rates shown on FRS and VRS are the current interest rates at September 30, 2018 and unless noted otherwise, the dates are the original maturity dates.

Index Legend

1 ML  -  1 Month USD LIBOR

3 ML  -  3 Month USD LIBOR

The following is a summary of the inputs used to value the Portfolio’s net assets as of September 30, 2018 (see Note 1):

	Level 1- Unadjusted  Quoted Prices		Level 2 - Other Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*
Common Stocks	$	104,351,705	$	—	$	—	$	104,351,705
Exchange-Traded Funds		3,679,135		—		—		3,679,135
Preferred Securities/Capital Securities		—		523,797		—		523,797
Asset Backed Securities		—		8,603,978		—		8,603,978
U.S. Corporate Bonds & Notes:
Savings & Loans/Thrifts		—		—		0		0
Other Industries		—		38,122,728		—		38,122,728
Foreign Corporate Bonds & Notes		—		3,039,291		—		3,039,291
U.S. Government Agencies		—		16,924,738		—		16,924,738
U.S. Government Treasuries		—		1,338,393		—		1,338,393
Loans		—		733,095		—		733,095
Repurchase Agreements		—		6,930,000		—		6,930,000
Total Investments at Value	$	108,030,840	$	76,216,020	$	0	$	184,246,860

* For a detailed presentation of investments, please refer to the Portfolio of Investments.

The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no material transfers between Levels during the reporting period.

At the beginning and end of the reporting period, Level 3 investments were not considered a material portion of the Portfolio.

See Notes to Portfolio of Investments

Anchor Series Trust SA Wellington Growth and Income Portfolio#

PORTFOLIO OF INVESTMENTS - September 30, 2018 - (unaudited)

Security Description	Shares/ Principal Amount		Value (Note 1)
COMMON STOCKS - 99.6%
Aerospace/Defense - 1.9%
Boeing Co.		8,193	$	3,046,977
Airlines - 0.7%
United Continental Holdings, Inc.†		11,954		1,064,623
Apparel Manufacturers - 1.7%
Under Armour, Inc., Class C†		63,947		1,244,409
VF Corp.		15,847		1,480,902
				2,725,311
Applications Software - 5.4%
Microsoft Corp.		58,523		6,693,275
salesforce.com, Inc.†		11,053		1,757,759
				8,451,034
Athletic Footwear - 1.8%
NIKE, Inc., Class B		32,807		2,779,409
Banks-Commercial - 0.8%
SVB Financial Group†		4,149		1,289,634
Banks-Super Regional - 3.2%
Capital One Financial Corp.		17,945		1,703,519
Fifth Third Bancorp		30,218		843,686
PNC Financial Services Group, Inc.		18,082		2,462,588
				5,009,793
Beverages-Non-alcoholic - 1.3%
Monster Beverage Corp.†		34,515		2,011,534
Building & Construction Products-Misc. - 0.8%
Fortune Brands Home & Security, Inc.		25,060		1,312,142
Cable/Satellite TV - 1.5%
Comcast Corp., Class A		68,185		2,414,431
Chemicals-Diversified - 2.1%
DowDuPont, Inc.		25,341		1,629,680
PPG Industries, Inc.		14,897		1,625,709
				3,255,389
Coatings/Paint - 0.9%
Sherwin-Williams Co.		3,240		1,474,880
Commercial Services-Finance - 3.3%
Equifax, Inc.		7,493		978,361
FleetCor Technologies, Inc.†		6,917		1,575,969
Global Payments, Inc.		13,272		1,690,853
IHS Markit, Ltd.†		19,241		1,038,245
				5,283,428
Computer Services - 0.7%
EPAM Systems, Inc.†		7,918		1,090,309
Computer Software - 0.8%
SS&C Technologies Holdings, Inc.		21,243		1,207,240
Computers - 2.9%
Apple, Inc.		20,502		4,628,122
Computers-Memory Devices - 1.1%
NetApp, Inc.		19,607		1,684,045
Cosmetics & Toiletries - 1.8%
Colgate-Palmolive Co.		21,762		1,456,966
Estee Lauder Cos., Inc., Class A		9,234		1,341,885
				2,798,851
Diagnostic Equipment - 2.1%
Danaher Corp.		10,959		1,190,805
Thermo Fisher Scientific, Inc.		8,969		2,189,154
				3,379,959
Diversified Banking Institutions - 6.1%
Bank of America Corp.		134,492		3,962,134
JPMorgan Chase & Co.		38,843		4,383,044
Morgan Stanley		26,642		1,240,718
				9,585,896
Diversified Manufacturing Operations - 1.7%
Eaton Corp. PLC		16,777		1,455,069
Illinois Tool Works, Inc.		8,917		1,258,367
				2,713,436
E-Commerce/Products - 4.1%
Amazon.com, Inc.†		2,668		5,344,004
eBay, Inc.†		33,245		1,097,750
				6,441,754
E-Commerce/Services - 1.4%
Booking Holdings, Inc.†		1,102		2,186,368
E-Services/Consulting - 0.7%
CDW Corp.		12,225		1,087,047
Electric Products-Misc. - 1.1%
AMETEK, Inc.		21,924		1,734,627
Electric-Integrated - 1.5%
American Electric Power Co., Inc.		16,040		1,136,915
NextEra Energy, Inc.		7,455		1,249,458
				2,386,373
Electronic Components-Semiconductors - 2.5%
Advanced Micro Devices, Inc.†		52,933		1,635,100
Micron Technology, Inc.†		32,227		1,457,627
ON Semiconductor Corp.†		42,899		790,629
				3,883,356
Enterprise Software/Service - 0.8%
Workday, Inc., Class A†		9,149		1,335,571
Finance-Credit Card - 4.0%
American Express Co.		15,244		1,623,333
Mastercard, Inc., Class A		21,344		4,751,388
				6,374,721
Hotels/Motels - 1.0%
Hilton Worldwide Holdings, Inc.		18,722		1,512,363
Industrial Automated/Robotic - 0.8%
Nordson Corp.		9,197		1,277,463
Insurance-Life/Health - 0.7%
Athene Holding, Ltd., Class A†		21,943		1,133,575
Insurance-Multi-line - 2.6%
Allstate Corp.		19,687		1,943,107
Chubb, Ltd.		16,188		2,163,364
				4,106,471
Internet Content-Entertainment - 1.1%
Facebook, Inc., Class A†		10,207		1,678,643
Investment Management/Advisor Services - 0.7%
BlackRock, Inc.		2,320		1,093,486
Machinery-General Industrial - 0.6%
Middleby Corp.†		7,474		966,762

Machinery-Pumps - 0.5%
Gardner Denver Holdings, Inc.†		25,613			725,872
Medical Instruments - 2.3%
Boston Scientific Corp.†		41,163			1,584,776
Medtronic PLC		20,035			1,970,843
					3,555,619
Medical Labs & Testing Services - 1.0%
Laboratory Corp. of America Holdings†		8,807			1,529,600
Medical Products - 3.5%
Abbott Laboratories		27,090			1,987,323
Baxter International, Inc.		28,433			2,191,900
Hologic, Inc.†		31,643			1,296,730
					5,475,953
Medical-Biomedical/Gene - 0.7%
Seattle Genetics, Inc.†		14,843			1,144,692
Medical-Drugs - 4.3%
Allergan PLC		7,722			1,470,887
Bristol-Myers Squibb Co.		24,350			1,511,648
Eli Lilly & Co.		16,722			1,794,438
Merck & Co., Inc.		27,926			1,981,070
					6,758,043
Medical-HMO - 3.6%
Anthem, Inc.		7,985			2,188,289
UnitedHealth Group, Inc.		13,094			3,483,528
					5,671,817
Oil Companies-Exploration & Production - 3.7%
Continental Resources, Inc.†		27,564			1,882,070
EOG Resources, Inc.		14,302			1,824,506
Newfield Exploration Co.†		27,918			804,876
Pioneer Natural Resources Co.		7,518			1,309,561
					5,821,013
Oil-Field Services - 0.7%
Halliburton Co.		26,149			1,059,819
Retail-Discount - 2.4%
Costco Wholesale Corp.		8,919			2,094,895
Dollar Tree, Inc.†		21,083			1,719,318
					3,814,213
Telecommunication Equipment - 0.0%
Nortel Networks Corp.†(1)(2)		147			0
Telephone-Integrated - 1.9%
Verizon Communications, Inc.		55,319			2,953,481
Textile-Home Furnishings - 0.8%
Mohawk Industries, Inc.†		7,021			1,231,132
Tools-Hand Held - 1.0%
Snap-on, Inc.		8,489			1,558,580
Transport-Rail - 1.0%
Norfolk Southern Corp.		8,348			1,506,814
Transport-Truck - 0.6%
JB Hunt Transport Services, Inc.		8,031			955,207
Web Hosting/Design - 1.4%
GoDaddy, Inc., Class A†		27,330			2,279,049
Web Portals/ISP - 4.0%
Alphabet, Inc., Class A†		3,648			4,403,428
Alphabet, Inc., Class C†		1,603			1,913,132
					6,316,560
Total Long-Term Investment Securities (cost $114,049,602)					156,762,487
REPURCHASE AGREEMENTS - 0.7%
Bank of America Securities LLC Joint Repurchase Agreement(3)	$	205,000			205,000
Barclays Capital, Inc. Joint Repurchase Agreement(3)		65,000			65,000
BNP Paribas SA Joint Repurchase Agreement(3)		410,000			410,000
Deutsche Bank AG Joint Repurchase Agreement(3)		70,000			70,000
RBS Securities, Inc. Joint Repurchase Agreement(3)		320,000			320,000
Total Repurchase Agreements (cost $1,070,000)					1,070,000
TOTAL INVESTMENTS (cost $115,119,602)		100.3	%		157,832,487
Liabilities in excess of other assets		(0.3	)		(426,056	)
NET ASSETS		100.0	%	$	157,406,431

# Subsequent to September 30, 2018, the SA Wellington Growth and Income Portfolio reorganized into SA AB Growth Portfolio, a series of SunAmerica Series Trust, effective on October 22, 2018.

† Non-income producing security

(1) Illiquid security. At September 30, 2018, the aggregate value of these securities was $0 representing 0.0% of net assets.

(2) Securities classified as Level 3 (see Note 1).

(3) See Note 2 for details of Joint Repurchase Agreements.

The following is a summary of the inputs used to value the Portfolio’s net assets as of September 30, 2018 (see Note 1):

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*
Common Stocks:
Telecommunication Equipment	$	—	$	—	$	0	$	0
Other Industries		156,762,487		—		—		156,762,487
Repurchase Agreements		—		1,070,000		—		1,070,000
Total Investments at Value	$	156,762,487	$	1,070,000	$	0	$	157,832,487

* For a detailed presentation of investments, please refer to the Portfolio of Investments.

The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period.

At the beginning and end of the reporting period, Level 3 investments in securities were not considered a material portion of the Portfolio.

See Notes to Portfolio of Investments

Anchor Series Trust SA Wellington Growth Portfolio#

PORTFOLIO OF INVESTMENTS - September 30, 2018 - (unaudited)

Security Description	Shares/ Principal Amount		Value (Note 1)
COMMON STOCKS - 99.3%
Aerospace/Defense - 1.5%
General Dynamics Corp.		9,346	$	1,913,313
Lockheed Martin Corp.		6,201		2,145,298
				4,058,611
Agricultural Chemicals - 0.3%
Nutrien, Ltd.		13,450		776,604
Agricultural Operations - 0.2%
Archer-Daniels-Midland Co.		11,634		584,841
Airlines - 0.8%
Delta Air Lines, Inc.		17,263		998,319
Southwest Airlines Co.		20,091		1,254,683
				2,253,002
Apparel Manufacturers - 1.1%
Carter’s, Inc.		7,918		780,715
Under Armour, Inc., Class C†		49,508		963,425
VF Corp.		12,911		1,206,533
				2,950,673
Applications Software - 2.5%
Microsoft Corp.		29,387		3,360,991
salesforce.com, Inc.†		10,979		1,745,991
ServiceNow, Inc.†		8,946		1,750,106
				6,857,088
Athletic Footwear - 2.3%
NIKE, Inc., Class B		74,177		6,284,275
Auto-Cars/Light Trucks - 0.3%
General Motors Co.		25,310		852,188
Banks-Commercial - 0.4%
Bank OZK		32,164		1,220,945
Banks-Super Regional - 3.2%
Capital One Financial Corp.		12,656		1,201,434
PNC Financial Services Group, Inc.		39,557		5,387,268
Wells Fargo & Co.		43,249		2,273,167
				8,861,869
Beverages-Non-alcoholic - 3.5%
Coca-Cola Co.		95,564		4,414,101
Monster Beverage Corp.†		42,165		2,457,376
PepsiCo, Inc.		23,627		2,641,499
				9,512,976
Beverages-Wine/Spirits - 1.4%
Constellation Brands, Inc., Class A		2,711		584,546
Diageo PLC		95,439		3,382,306
				3,966,852
Building & Construction Products-Misc. - 0.3%
Fortune Brands Home & Security, Inc.		17,250		903,210
Building Products-Air & Heating - 0.6%
Johnson Controls International PLC		23,128		809,480
Lennox International, Inc.		3,711		810,482
				1,619,962
Building Products-Cement - 0.3%
CRH PLC		22,520		737,337
Building Products-Doors & Windows - 0.4%
JELD-WEN Holding, Inc.†		10,787		266,007
Sanwa Holdings Corp.		74,800		890,727
				1,156,734
Cable/Satellite TV - 0.8%
Comcast Corp., Class A		58,350		2,066,174
Chemicals-Diversified - 0.6%
Celanese Corp., Series A		13,584		1,548,576
Chemicals-Specialty - 0.2%
Cabot Corp.		7,340		460,365
Coatings/Paint - 0.3%
Sherwin-Williams Co.		1,932		879,466
Commercial Services - 1.0%
CoStar Group, Inc.†		3,868		1,627,809
Ecolab, Inc.		7,472		1,171,460
				2,799,269
Commercial Services-Finance - 2.7%
FleetCor Technologies, Inc.†		7,901		1,800,164
Global Payments, Inc.		13,946		1,776,720
IHS Markit, Ltd.†		16,570		894,117
PayPal Holdings, Inc.†		13,775		1,209,996
TransUnion		23,677		1,742,154
				7,423,151
Computer Services - 2.4%
Accenture PLC, Class A		16,984		2,890,677
Amdocs, Ltd.		13,675		902,277
Genpact, Ltd.		95,643		2,927,632
				6,720,586
Computers - 0.6%
Apple, Inc.		6,760		1,526,002
Computers-Memory Devices - 0.5%
Western Digital Corp.		21,240		1,243,390
Containers-Paper/Plastic - 0.5%
Packaging Corp. of America		13,496		1,480,376
Cosmetics & Toiletries - 2.2%
Colgate-Palmolive Co.		59,991		4,016,398
Coty, Inc., Class A		54,107		679,584
Edgewell Personal Care Co.†		14,997		693,311
Estee Lauder Cos., Inc., Class A		5,337		775,573
				6,164,866
Diagnostic Equipment - 0.5%
Thermo Fisher Scientific, Inc.		5,439		1,327,551
Diversified Banking Institutions - 1.9%
Citigroup, Inc.		39,014		2,798,864
JPMorgan Chase & Co.		20,637		2,328,679
				5,127,543
Diversified Manufacturing Operations - 0.2%
A.O. Smith Corp.		8,374		446,920
E-Commerce/Products - 2.0%
Alibaba Group Holding, Ltd. ADR†		8,600		1,416,936
Amazon.com, Inc.†		1,067		2,137,201
Delivery Hero AG†*		25,083		1,206,259
Wayfair, Inc., Class A†		4,541		670,570
				5,430,966
E-Commerce/Services - 2.3%
Booking Holdings, Inc.†		794		1,575,296
Expedia Group, Inc.		18,240		2,379,955
Just Eat PLC†		150,135		1,311,488
Zillow Group, Inc., Class A†		24,624		1,088,381
				6,355,120

E-Services/Consulting - 0.7%
CDW Corp.	19,995	1,777,955
Electric-Distribution - 0.3%
Sempra Energy	7,133	811,379
Electric-Integrated - 1.4%
Edison International	15,463	1,046,536
Exelon Corp.	27,424	1,197,332
Iberdrola SA	102,716	755,860
OGE Energy Corp.	22,515	817,745
		3,817,473
Electronic Components-Misc. - 0.4%
Koninklijke Philips NV	22,369	1,018,013
Electronic Components-Semiconductors - 0.7%
Broadcom, Inc.	5,217	1,287,191
Samsung Electronics Co., Ltd.	17,243	722,053
Silicon Motion Technology Corp. ADR	550	29,535
		2,038,779
Electronic Forms - 0.5%
Adobe Systems, Inc.†	5,286	1,426,956
Electronic Measurement Instruments - 0.6%
Agilent Technologies, Inc.	22,867	1,613,038
Enterprise Software/Service - 0.7%
Atlassian Corp. PLC, Class A†	9,369	900,736
Workday, Inc., Class A†	7,828	1,142,731
		2,043,467
Finance-Consumer Loans - 0.4%
SLM Corp.†	90,278	1,006,600
Finance-Credit Card - 3.6%
American Express Co.	44,865	4,777,674
Mastercard, Inc., Class A	10,725	2,387,492
Visa, Inc., Class A	18,310	2,748,148
		9,913,314
Finance-Investment Banker/Broker - 0.4%
TD Ameritrade Holding Corp.	22,647	1,196,441
Food-Meat Products - 0.3%
Hormel Foods Corp.	18,362	723,463
Food-Retail - 0.3%
Kroger Co.	24,544	714,476
Footwear & Related Apparel - 0.3%
Skechers U.S.A., Inc., Class A†	30,955	864,573
Garden Products - 0.2%
Toro Co.	7,828	469,445
Gold Mining - 0.1%
Randgold Resources, Ltd. ADR	5,466	385,626
Home Decoration Products - 0.4%
Newell Brands, Inc.	53,332	1,082,640
Hotels/Motels - 0.4%
Hilton Worldwide Holdings, Inc.	11,945	964,917
Independent Power Producers - 0.6%
NRG Energy, Inc.	46,153	1,726,122
Industrial Automated/Robotic - 0.3%
Nordson Corp.	6,314	877,015
Industrial Gases - 0.9%
Praxair, Inc.	15,916	2,558,179
Instruments-Controls - 0.6%
Mettler-Toledo International, Inc.†	2,565	1,562,034
Insurance Brokers - 1.2%
Arthur J. Gallagher & Co.	11,007	819,361
Marsh & McLennan Cos., Inc.	28,797	2,382,088
		3,201,449
Insurance-Life/Health - 0.7%
CNO Financial Group, Inc.	37,438	794,434
Unum Group	27,108	1,059,110
		1,853,544
Insurance-Multi-line - 2.8%
Chubb, Ltd.	35,492	4,743,151
MetLife, Inc.	61,310	2,864,403
		7,607,554
Insurance-Property/Casualty - 0.2%
Lancashire Holdings, Ltd.	66,187	524,510
Insurance-Reinsurance - 0.6%
RenaissanceRe Holdings, Ltd.	12,637	1,688,051
Internet Content-Entertainment - 0.4%
Facebook, Inc., Class A†	7,313	1,202,696
Internet Content-Information/News - 0.6%
Spotify Technology SA†	9,545	1,726,022
Investment Management/Advisor Services - 0.6%
BlackRock, Inc.	3,486	1,643,056
Lasers-System/Components - 0.2%
Coherent, Inc.†	3,817	657,249
Machinery-General Industrial - 0.2%
Middleby Corp.†	5,191	671,456
Medical Instruments - 1.9%
Medtronic PLC	38,636	3,800,623
Teleflex, Inc.	5,579	1,484,516
		5,285,139
Medical Products - 1.8%
Baxter International, Inc.	38,160	2,941,754
Hologic, Inc.†	19,366	793,619
West Pharmaceutical Services, Inc.	9,353	1,154,815
		4,890,188
Medical-Biomedical/Gene - 2.5%
Alnylam Pharmaceuticals, Inc.†	16,821	1,472,174
BeiGene, Ltd. ADR†	7,117	1,225,690
Biogen, Inc.†	2,794	987,148
Five Prime Therapeutics, Inc.†	9,720	135,302
Incyte Corp.†	9,361	646,658
Ionis Pharmaceuticals, Inc.†	33,859	1,746,447
Seattle Genetics, Inc.†	8,373	645,726
		6,859,145

Medical-Drugs - 3.1%
Alkermes PLC†	27,446	1,164,808
Allergan PLC	11,010	2,097,185
AstraZeneca PLC ADR	12,556	496,841
Bristol-Myers Squibb Co.	78,245	4,857,450
		8,616,284
Medical-Generic Drugs - 0.5%
Mylan NV†	36,949	1,352,333
Medical-HMO - 1.1%
UnitedHealth Group, Inc.	6,279	1,670,465
WellCare Health Plans, Inc.†	4,598	1,473,613
		3,144,078
Medical-Wholesale Drug Distribution - 0.4%
McKesson Corp.	8,991	1,192,656
Metal-Aluminum - 0.2%
Alcoa Corp.†	16,100	650,440
Multimedia - 0.5%
Walt Disney Co.	11,640	1,361,182
Non-Hazardous Waste Disposal - 0.5%
Waste Connections, Inc.	18,759	1,496,405
Office Furnishings-Original - 0.8%
Herman Miller, Inc.	26,675	1,024,320
Steelcase, Inc., Class A	59,016	1,091,796
		2,116,116
Oil Companies-Exploration & Production - 2.6%
Anadarko Petroleum Corp.	14,526	979,198
Canadian Natural Resources, Ltd.	49,073	1,602,724
Cimarex Energy Co.	11,852	1,101,525
Concho Resources, Inc.†	5,792	884,728
Diamondback Energy, Inc.	5,615	759,092
Laredo Petroleum, Inc.†	52,975	432,806
Marathon Oil Corp.	34,682	807,397
Pioneer Natural Resources Co.	3,224	561,588
		7,129,058
Oil Companies-Integrated - 0.7%
Chevron Corp.	15,446	1,888,737
Oil-Field Services - 0.4%
Halliburton Co.	27,513	1,115,102
Real Estate Investment Trusts - 4.7%
Acadia Realty Trust	18,839	528,057
American Tower Corp.	24,702	3,589,200
Brixmor Property Group, Inc.	47,878	838,344
Columbia Property Trust, Inc.	37,559	887,895
Host Hotels & Resorts, Inc.	74,989	1,582,268
Public Storage	16,128	3,251,889
Simon Property Group, Inc.	4,299	759,848
STORE Capital Corp.	33,654	935,245
Taubman Centers, Inc.	7,056	422,160
		12,794,906
Retail-Automobile - 0.6%
CarMax, Inc.†	20,522	1,532,378
Retail-Discount - 1.6%
Costco Wholesale Corp.	18,220	4,279,514
Retail-Drug Store - 0.5%
Walgreens Boots Alliance, Inc.	19,892	1,450,127
Retail-Major Department Stores - 1.7%
TJX Cos., Inc.	42,117	4,717,946
Retail-Restaurants - 2.0%
Dunkin’ Brands Group, Inc.	10,725	790,647
McDonald’s Corp.	28,643	4,791,688
		5,582,335
Schools - 0.3%
2U, Inc.†	12,406	932,807
Semiconductor Components-Integrated Circuits - 0.7%
Marvell Technology Group, Ltd.	32,750	632,075
QUALCOMM, Inc.	18,030	1,298,701
		1,930,776
Semiconductor Equipment - 0.6%
KLA-Tencor Corp.	11,032	1,122,065
Teradyne, Inc.	11,532	426,453
		1,548,518
Steel Pipe & Tube - 0.3%
Tenaris SA ADR	22,448	752,457
Steel-Producers - 0.6%
Reliance Steel & Aluminum Co.	18,582	1,584,859
Telecom Equipment-Fiber Optics - 0.2%
Acacia Communications, Inc.†	11,118	459,952
Telephone-Integrated - 1.0%
Verizon Communications, Inc.	53,155	2,837,945
Tobacco - 0.9%
British American Tobacco PLC	25,894	1,209,778
Philip Morris International, Inc.	15,341	1,250,905
		2,460,683
Tools-Hand Held - 0.4%
Snap-on, Inc.	5,896	1,082,506
Transport-Rail - 3.2%
Canadian National Railway Co.	45,367	4,070,790
Genesee & Wyoming, Inc., Class A†	10,056	914,995
Union Pacific Corp.	23,811	3,877,145
		8,862,930
Transport-Services - 1.3%
Expeditors International of Washington, Inc.	15,851	1,165,524
United Parcel Service, Inc., Class B	20,755	2,423,146
		3,588,670
Web Hosting/Design - 0.7%
VeriSign, Inc.†	11,111	1,779,093
Web Portals/ISP - 1.5%
Alphabet, Inc., Class C†	2,236	2,668,599
Yandex NV, Class A†	47,405	1,559,150
		4,227,749
Total Common Stocks (cost $230,485,423)		272,467,994

EXCHANGE-TRADED FUNDS - 0.1%
Vanguard S&P 500 ETF (cost $233,644)		912			243,549
Total Long-Term Investment Securities (cost $230,719,067)					272,711,543
REPURCHASE AGREEMENTS - 1.0%
Bank of America Securities LLC Joint Repurchase Agreement(1)	$	535,000			535,000
Barclays Capital, Inc. Joint Repurchase Agreement(1)		175,000			175,000
BNP Paribas SA Joint Repurchase Agreement(1)		1,030,000			1,030,000
Deutsche Bank AG Joint Repurchase Agreement(1)		185,000			185,000
RBS Securities, Inc. Joint Repurchase Agreement(1)		835,000			835,000
Total Repurchase Agreements (cost $2,760,000)					2,760,000
TOTAL INVESTMENTS (cost $233,479,067)		100.3	%		275,471,543
Liabilities in excess of other assets		(0.3	)		(845,215	)
NET ASSETS		100.0	%	$	274,626,328

# Subsequent to September 30, 2018, the SA Wellington Growth Portfolio reorganized into SA AB Growth Portfolio, a series of SunAmerica Series Trust, effective on October 22, 2018.

† Non-income producing security

* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Portfolio has no right to demand registration of these securities. At September 30, 2018, the aggregate value of these securities was $1,206,259 representing 0.4 % of net assets. Unless otherwise indicated, these securities are not considered to be illiquid.

(1) See Note 2 for details of Joint Repurchase Agreements.

ADR - American Depositary Receipt

ETF - Exchange-Traded Fund

The following is a summary of the inputs used to value the Portfolio’s net assets as of September 30, 2018 (see Note 1):

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*
Common Stocks	$	272,467,994	$	—	$	—	$	272,467,994
Exchange-Traded Funds		243,549		—		—		243,549
Repurchase Agreements		—		2,760,000		—		2,760,000
Total Investments at Value	$	272,711,543	$	2,760,000	$	—	$	275,471,543

* For a detailed presentation of investments, please refer to the Portfolio of Investments.

The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. Securities currently valued at $10,018,265 transferred from Level 2 to Level 1 due to foreign equity securities whose values were previously adjusted for fair value pricing procedures for foreign equity securities. There were no additional transfers between Levels during the reporting period.

See Notes to Portfolio of Investments

Anchor Series Trust SA Wellington Capital Appreciation Portfolio

PORTFOLIO OF INVESTMENTS - September 30, 2018 - (unaudited)

Security Description	Shares/ Principal Amount		Value (Note 1)
COMMON STOCKS - 98.3%
Aerospace/Defense-Equipment - 1.0%
Harris Corp.		91,815	$	15,536,016
Airlines - 1.2%
JetBlue Airways Corp.†		1,019,262		19,732,912
Apparel Manufacturers - 0.8%
Under Armour, Inc., Class A†		148,595		3,153,186
Under Armour, Inc., Class C†		474,706		9,237,779
				12,390,965
Applications Software - 6.6%
salesforce.com, Inc.†		391,372		62,239,889
ServiceNow, Inc.†		220,605		43,156,956
				105,396,845
Auto-Cars/Light Trucks - 2.3%
Ferrari NV		148,640		20,350,302
Tesla, Inc.†		62,540		16,558,716
				36,909,018
Beverages-Non-alcoholic - 1.4%
Monster Beverage Corp.†		375,728		21,897,428
Building Products-Cement - 0.9%
Vulcan Materials Co.		126,798		14,099,938
Casino Hotels - 1.0%
Melco Resorts & Entertainment, Ltd. ADR		744,607		15,748,438
Commercial Services - 2.4%
CoStar Group, Inc.†		89,509		37,668,968
Commercial Services-Finance - 2.9%
PayPal Holdings, Inc.†		526,137		46,215,874
Computer Aided Design - 1.0%
Autodesk, Inc.†		105,586		16,483,031
Computer Software - 0.4%
Zuora, Inc., Class A†(1)		274,545		6,344,735
Computers-Periphery Equipment - 0.9%
Logitech International SA		13,718		613,469
Logitech International SA(SIX)		314,977		14,076,718
				14,690,187
Containers-Paper/Plastic - 0.9%
Packaging Corp. of America		131,351		14,407,891
Cruise Lines - 1.1%
Norwegian Cruise Line Holdings, Ltd.†		291,745		16,754,915
Dental Supplies & Equipment - 1.8%
Align Technology, Inc.†		71,514		27,977,707
Drug Delivery Systems - 1.5%
DexCom, Inc.†		169,315		24,218,818
E-Commerce/Products - 10.9%
Amazon.com, Inc.†		69,863		139,935,589
Wayfair, Inc., Class A†		228,303		33,713,504
				173,649,093
E-Commerce/Services - 0.4%
TripAdvisor, Inc.†		133,660		6,826,016
Electronic Components-Semiconductors - 1.9%
Advanced Micro Devices, Inc.†		541,235		16,718,749
Microchip Technology, Inc.		164,731		12,998,923
				29,717,672
Electronic Forms - 2.9%
Adobe Systems, Inc.†		173,584		46,859,001
DocuSign, Inc. CVR†(1)(2)(3)		55,398		124,645
				46,983,646
Enterprise Software/Service - 5.5%
Guidewire Software, Inc.†		348,740		35,226,228
Workday, Inc., Class A†		354,293		51,719,692
				86,945,920
Entertainment Software - 0.2%
DraftKings, Inc.†(1)(2)(3)		1,438,464		3,667,450
Finance-Credit Card - 2.2%
American Express Co.		332,000		35,354,680
Finance-Investment Banker/Broker - 1.8%
TD Ameritrade Holding Corp.		536,950		28,367,069
Food-Misc./Diversified - 1.5%
Lamb Weston Holdings, Inc.		363,584		24,214,695
Hotels/Motels - 2.4%
Hilton Grand Vacations, Inc.†		325,615		10,777,856
Hilton Worldwide Holdings, Inc.		341,624		27,596,387
				38,374,243
Industrial Automated/Robotic - 1.5%
Rockwell Automation, Inc.		128,985		24,187,267
Internet Content-Entertainment - 1.1%
Netflix, Inc.†		47,335		17,709,444
Internet Content-Information/News - 1.7%
Spotify Technology SA†		151,362		27,370,791
Lighting Products & Systems - 0.5%
Universal Display Corp.		65,096		7,674,818
Machinery-Farming - 1.3%
Deere & Co.		136,937		20,585,739
Machinery-General Industrial - 0.9%
IDEX Corp.		82,186		12,382,143
Roper Technologies, Inc.		7,900		2,340,059
				14,722,202
Medical Instruments - 1.6%
Edwards Lifesciences Corp.†		149,373		26,005,839
Medical Products - 3.8%
Baxter International, Inc.		415,795		32,053,636
Haemonetics Corp.†		248,803		28,507,848
				60,561,484
Medical-Biomedical/Gene - 4.9%
Bluebird Bio, Inc.†		26,237		3,830,602
Exact Sciences Corp.†		654,120		51,623,151
Ionis Pharmaceuticals, Inc.†		246,264		12,702,297
Sage Therapeutics, Inc.†		72,736		10,273,960
				78,430,010
Medical-Drugs - 1.0%
Bristol-Myers Squibb Co.		263,475		16,356,528
Multimedia - 2.1%
Walt Disney Co.		290,435		33,963,469
Office Automation & Equipment - 1.1%
Zebra Technologies Corp., Class A†		98,745		17,461,078
Oil Companies-Exploration & Production - 2.0%
Diamondback Energy, Inc.		118,389		16,005,009
EOG Resources, Inc.		118,169		15,074,819
				31,079,828

Patient Monitoring Equipment - 1.4%
Insulet Corp.†		213,777			22,649,673
Real Estate Investment Trusts - 1.0%
Crown Castle International Corp.		139,598			15,541,445
Recreational Centers - 1.1%
Planet Fitness, Inc., Class A†		312,259			16,871,354
Recreational Vehicles - 0.9%
Polaris Industries, Inc.		143,515			14,487,839
Resorts/Theme Parks - 2.0%
Marriott Vacations Worldwide Corp.		120,889			13,509,346
Vail Resorts, Inc.		68,340			18,753,863
					32,263,209
Retail-Floor Coverings - 0.9%
Floor & Decor Holdings, Inc., Class A†		462,135			13,942,613
Schools - 1.3%
2U, Inc.†		265,460			19,959,937
Semiconductor Equipment - 1.1%
Teradyne, Inc.		464,241			17,167,632
Textile-Home Furnishings - 0.7%
Mohawk Industries, Inc.†		67,356			11,810,875
Transport-Rail - 1.1%
CSX Corp.		233,632			17,300,450
Veterinary Diagnostics - 0.1%
Elanco Animal Health, Inc.†		28,800			1,004,832
Web Hosting/Design - 2.2%
GoDaddy, Inc., Class A†		202,750			16,907,322
Shopify, Inc., Class A†		108,523			17,847,693
					34,755,015
Web Portals/ISP - 3.2%
Alphabet, Inc., Class A†		42,376			51,151,222
Total Common Stocks
(cost $1,280,448,672)					1,565,588,763
CONVERTIBLE PREFERRED SECURITIES - 2.2%
Advertising Services - 0.0%
Nanigans, Inc., Series B†(1)(2)(3)		126,818			759,640
Applications Software - 0.2%
Magic Leap, Inc., Series C†(1)(2)(3)		93,690			2,529,630
E-Commerce/Products - 0.2%
One Kings Lane Inc., Escrow†(1)(2)(3)		291,563			52,481
The Honest Co., Inc., Series C†(1)(2)(3)		97,634			3,079,377
					3,131,858
E-Commerce/Services - 1.7%
Airbnb, Inc., Series E†(1)(2)(3)		46,491			5,325,079
Uber Technologies, Inc., Series D†(1)(2)(3)		462,320			21,318,090
					26,643,169
Web Portals/ISP - 0.1%
Pinterest, Inc., Series G†(1)(2)(3)		390,940			2,181,445
Total Convertible Preferred Securities
(cost $20,563,866)					35,245,742
Total Long-Term Investment Securities
(cost $1,301,012,538)					1,600,834,505
REPURCHASE AGREEMENTS - 0.7%
Bank of America Securities LLC Joint Repurchase Agreement(4)	$	2,150,000			2,150,000
Barclays Capital, Inc. Joint Repurchase Agreement(4)		715,000			715,000
BNP Paribas SA Joint Repurchase Agreement(4)		4,070,000			4,070,000
Deutsche Bank AG Joint Repurchase Agreement(4)		755,000			755,000
RBS Securities, Inc. Joint Repurchase Agreement(4)		3,345,000			3,345,000
Total Repurchase Agreements
(cost $11,035,000)					11,035,000
TOTAL INVESTMENTS
(cost $1,312,047,538)		101.2	%		1,611,869,505
Liabilities in excess of other assets		(1.2	)		(19,282,353	)
NET ASSETS		100.0	%	$	1,592,587,152

† Non-income producing security

(1) Illiquid security. At September 30, 2018, the aggregate value of these securities was $45,382,572 representing 2.8% of net assets.

(2) Securities classified as Level 3 (see Note 1).

(3) Denotes a restricted security that: (a) cannot be offered for public sale without first being registered, or being able to take advantage of an exemption from registration, under the Securities Act of 1933, as amended (the “1933 Act”); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales by operation of applicable law. Restricted securities are valued pursuant to Note 1. Certain restricted securities held by the Portfolio may not be sold except in exempt transactions or in a public offering registered under the 1933 Act. The Portfolio has no right to demand registration of these securities. The risk of investing in certain restricted securities is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Portfolio to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit greater price volatility than securities for which secondary markets exist. As of September 30, 2018, the Portfolio held the following restricted securities:

Description	Acquisition Date		Shares		Acquisition Cost		Value		Value Per Share		% of Net Assets
Common Stocks
DraftKings, Inc.		07/16/2015		640,163		2,337,660
		07/17/2015		23,563		86,045
		08/11/2015		774,738		2,996,033
				1,438,464	$	5,419,738	$	3,667,450	$	2.55		0.23	%
Convertible Preferred Securities
Airbnb, Inc., Series E		06/24/2015		46,491		4,328,052		5,325,079		114.54		0.33
The Honest Co., Inc., Series C		08/20/2014		97,634		2,641,712		3,079,377		31.54		0.19
Magic Leap, Inc., Series C		12/28/2015		93,690		2,157,962		2,529,630		27.00		0.16
Nanigans, Inc., Series B		03/16/2015		126,818		1,384,662		759,640		5.99		0.05
Pinterest, Inc., Series G		03/19/2015		390,940		2,806,594		2,181,445		5.58		0.14
Uber Technologies, Inc., Series D		06/05/2014		462,320		7,171,993		21,318,090		46.11		1.34
							$	38,860,711				2.44	%

(4) See Note 2 for details of Joint Repurchase Agreements.

ADR  -  American Depositary Receipt

CVR  -  Contingent Value Rights

SIX  -  Swiss Stock Exchange

The following is a summary of the inputs used to value the Portfolio’s net assets as of September 30, 2018 (see Note 1):

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*
Common Stocks:
Electronic Forms	$	46,859,001	$	—	$	124,645	$	46,983,646
Entertainment Software		—		—		3,667,450		3,667,450
Other Industries		1,514,937,667		—		—		1,514,937,667
Convertible Preferred Securities		—		—		35,245,742		35,245,742
Repurchase Agreements		—		11,035,000		—		11,035,000
Total Investments at Value	$	1,561,796,668	$	11,035,000	$	39,037,837		1,611,869,505

* For a detailed presentation of investments, please refer to the Portfolio of Investments.

The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no material transfers between Levels during the reporting period.

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

	Common Stocks			Convertible Preferred Securities
Balance as of 12/31/2017	$	5,250,275		$	38,756,537
Accrued discounts		—			—
Accrued premiums		—			—
Realized Gain		272,507			2,409,664
Realized Loss		(667,084	)		—
Change in unrealized appreciation(1)		2,141,850			2,986,434
Change in unrealized depreciation(1)		(653,213	)		(1,582,827	)
Net Purchases		—			2,781,544
Net Sales		(2,552,240	)		(10,105,610	)
Transfers into Level 3		—			—
Transfers out of Level 3		—			—
Balance as of 03/31/2018	$	3,792,095		$	35,245,742

(1) The total change in unrealized appreciation (depreciation) attributable to Level 3 investments still held at September 30, 2018 includes:

Common Stocks		Convertible Preferred Securities
$	1,749,477	$	5,172,299

Any differences between the change in appreciation (depreciation) in the Level 3 reconciliation and the total change in unrealized appreciation (depreciation) is attributable to securities sold/no longer held at September 30, 2018.

The following is quantitative information about Level 3 fair value measurements:

Description	Value at 09/30/2018		Valuation Technique(s)	Unobservable Input (1)	Range (weighted average)
Common Stocks	$	3,667,450	Market Approach	Market Transaction Price*	$2.5496
	$	124,645	Income Approach	Potential Future Cash Flows*	$2.25
				Discount for Lack of Marketability	10.00%
Convertible Preferred Securities	$	2,529,630	Market Approach	Market Transaction Price*	$27.00
	$	21,318,090	Market Approach	Market Transaction Price*	$48.7722
				Average of Market Bids*	$43.45
	$	5,325,079	Market Approach	2018 Estimated Revenue Multiple*	11.10x
				2020 Estimated Revenue Multiple*	5.5x
				2020 Estimated Gross Profit Multiple*	7.9x
				2021 Estimated Revenue Multiple*	4.6x-7.0x (5.8x)
				2021 Estimated Gross Profit Multiple*	6.2x
				Discount for Lack of Marketability	10.00%-15.00% (11.70%)
	$	3,079,377	Market Approach with Option Pricing Method (“OPM”)	Estimated Revenue Multiple*	2.38x
				Discount for Lack of Marketability	10.00%
				OPM assumptions:
				Volatility*	13.0%
				Term to liquidity event in years	3.00
				Risk-free rate	2.89%
	$	759,640	Market Approach with Option Pricing Method (“OPM”)	Last Twelve Months Revenue Multiple*	1.06x
				Discount for Lack of Marketability	10.00%
				OPM assumptions:
				Volatility*	53.1%
				Term to liquidity event in years	3.00
				Risk-free rate	2.89%
	$	2,181,445	Market Approach with Option Pricing Method (“OPM”)	Next Twelve Months Revenue Multiple*	5.7x
				Discount for Lack of Marketability	10.00%
				OPM assumptions:
				Volatility*	47.0%
				Term to liquidity event in years	2.26
				Risk-free rate	2.85%
	$	52,481	Income Approach	Future Cash Flows*	$0.18
				Discount for Potential Claims	50.0%

(1) The significant unobservable inputs regarding the Level 3 securities in the table above are attributable to private securities and include assumptions made from non-public financial statements, private transactions, and/or market comparables. For those unobservable inputs indicated with *, a significant increase (decrease) in any of those inputs in isolation may result in a significantly higher (lower) fair value measurement, while the remaining unobservable inputs have a inverse relationship.

See Notes to Portfolio of Investments

Anchor Series Trust SA Wellington Natural Resources Portfolio#

PORTFOLIO OF INVESTMENTS - September 30, 2018 - (unaudited)

Security Description	Shares/ Principal Amount		Value (Note 1)
COMMON STOCKS - 97.2%
Diamonds/Precious Stones - 0.3%
Lucara Diamond Corp.		174,034	$	291,034
Diversified Minerals - 8.5%
Anglo American PLC		101,964		2,289,865
BHP Billiton PLC		278,542		6,067,321
BHP Billiton, Ltd.		19,413		485,952
				8,843,138
Gold Mining - 2.7%
Agnico Eagle Mines, Ltd.		21,079		720,013
Barrick Gold Corp.(NYSE)		81,011		897,602
Barrick Gold Corp.(TSX)		27,573		305,050
Newcrest Mining, Ltd.		61,074		856,900
				2,779,565
Metal-Aluminum - 1.3%
Alcoa Corp.†		18,553		749,541
Norsk Hydro ASA		100,918		605,849
				1,355,390
Metal-Copper - 2.1%
Antofagasta PLC		39,890		444,537
First Quantum Minerals, Ltd.		78,312		891,859
KAZ Minerals PLC		58,052		415,855
Southern Copper Corp.		11,058		477,042
				2,229,293
Metal-Diversified - 7.8%
Glencore PLC		678,408		2,933,015
MMC Norilsk Nickel PJSC ADR		39,550		679,864
Rio Tinto PLC		89,330		4,517,591
				8,130,470
Metal-Iron - 2.2%
Vale SA ADR		156,648		2,324,656
Non-Ferrous Metals - 0.2%
Korea Zinc Co., Ltd.		577		226,795
Oil Companies-Exploration & Production - 22.2%
Cabot Oil & Gas Corp.		72,859		1,640,785
Canadian Natural Resources, Ltd.		11,692		381,994
CNOOC, Ltd.		656,620		1,300,096
Concho Resources, Inc.†		19,007		2,903,319
Devon Energy Corp.		25,799		1,030,412
Diamondback Energy, Inc.		18,114		2,448,832
Encana Corp.		127,254		1,667,952
EOG Resources, Inc.		20,864		2,661,620
Kosmos Energy, Ltd.†		106,946		999,945
Lundin Petroleum AB		52,849		2,023,002
Newfield Exploration Co.†		40,073		1,155,305
Noble Energy, Inc.		29,625		924,004
Occidental Petroleum Corp.		36,611		3,008,326
Pioneer Natural Resources Co.		5,737		999,328
				23,144,920
Oil Companies-Integrated - 27.8%
Chevron Corp.		20,045		2,451,103
Equinor ASA†		74,466		2,099,825
Exxon Mobil Corp.		65,569		5,574,676
Galp Energia SGPS SA		78,996		1,567,466
Gazprom Neft OAO ADR		17,300		496,354
Petroleo Brasileiro SA ADR		48,850		589,620
Royal Dutch Shell PLC, Class A		233,108		8,010,558
Suncor Energy, Inc.		85,392		3,304,217
TOTAL SA		75,894		4,920,440
				29,014,259
Oil Refining & Marketing - 7.6%
Andeavor		10,419		1,599,317
Delek US Holdings, Inc.		9,036		383,397
Marathon Petroleum Corp.		18,480		1,477,846
Phillips 66		17,624		1,986,577
Valero Energy Corp.		21,582		2,454,952
				7,902,089
Oil-Field Services - 3.8%
Halliburton Co.		41,765		1,692,736
ProPetro Holding Corp.†		88,858		1,465,268
Schlumberger, Ltd.		12,967		789,950
				3,947,954
Pipelines - 4.0%
Cheniere Energy, Inc.†		11,936		829,433
Plains GP Holdings LP, Class A		24,731		606,651
Targa Resources Corp.		17,328		975,740
TransCanada Corp.		43,912		1,776,674
				4,188,498
Steel Pipe & Tube - 0.6%
Tenaris SA		40,827		688,517
Steel-Producers - 6.1%
ArcelorMittal		61,334		1,892,767
BlueScope Steel, Ltd.		78,416		962,477
Gerdau SA (Preference Shares)		84,500		359,673
Nippon Steel & Sumitomo Metal Corp.		51,670		1,093,019
Reliance Steel & Aluminum Co.		8,567		730,680
Steel Dynamics, Inc.		28,564		1,290,807
				6,329,423
Total Common Stocks (cost $90,522,958)				101,396,001
EQUITY CERTIFICATES - 0.3%
Non-Ferrous Metals - 0.3%
Merrill Lynch - Korea Zinc Co., Ltd.†(1) (cost $380,197)		779		306,192
Total Long-Term Investment Securities (cost $90,903,155)				101,702,193
REPURCHASE AGREEMENTS - 1.3%
Bank of America Securities LLC Joint Repurchase Agreement(2)	$	260,000		260,000
Barclays Capital, Inc. Joint Repurchase Agreement(2)		85,000		85,000
BNP Paribas SA Joint Repurchase Agreement(2)		500,000		500,000
Deutsche Bank AG Joint Repurchase Agreement(2)		90,000		90,000
RBS Securities, Inc. Joint Repurchase Agreement(2)		400,000		400,000
Total Repurchase Agreements (cost $1,335,000)				1,335,000

TOTAL INVESTMENTS (cost $92,238,155)	98.8	%		103,037,193
Other assets less liabilities	1.2			1,201,818
NET ASSETS	100.0	%	$	104,239,011

# Subsequent to September 30, 2018, the SA Wellington Natural Resources Portfolio reorganized into SA AB Growth Portfolio, a series of SunAmerica Series Trust, effective on October 22, 2018.

† Non-income producing security

(1) Illiquid security. At September 30, 2018, the aggregate value of these securities was $306,192 representing 0.3% of net assets.

(2) See Note 2 for details of Joint Repurchase Agreements

ADR - American Depositary Receipt

NYSE - New York Stock Exchange

TSX - Toronto Stock Exchange

The following is a summary of the inputs used to value the Portfolio’s net assets as of September 30, 2018 (see Note 1):

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*
Common Stocks	$	101,396,001	$	—	$	—	$	101,396,001
Equity Certificates		—		306,192		—		306,192
Repurchase Agreements		—		1,335,000		—		1,335,000
Total Investments at Value	$	101,396,001	$	1,641,192	$	—	$	103,037,193

* For a detailed presentation of investments, please refer to the Portfolio of Investments.

The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. Securities currently valued at $38,149,922 were transferred from Level 2 to Level 1 due to foreign equity securities whose values were previously adjusted for fair value pricing procedures for foreign equity securities. There were no additional transfers between Levels during the reporting period.

See Notes to Portfolio of Investments

Anchor Series Trust SA BlackRock Multi-Asset Income Portfolio

PORTFOLIO OF INVESTMENTS - September 30, 2018 - (unaudited)

Security Description	Shares			Value (Note 1)
EXCHANGE-TRADED FUNDS - 97.8%
Global X MLP ETF		184,308		$	1,760,141
iShares 0-5 Year High Yield Corporate Bond ETF		94,596			4,453,580
iShares 1-3 Year Credit Bond ETF		93,011			4,820,760
iShares 10+ Year Credit Bond ETF		56,596			3,297,849
iShares CMBS ETF		28,259			1,407,016
iShares Core Dividend Growth ETF		18,726			693,986
iShares Core High Dividend ETF		20,429			1,849,642
iShares Emerging Markets Dividend ETF		23,402			910,572
iShares Floating Rate Bond ETF		41,225			2,103,299
iShares iBoxx $ High Yield Corporate Bond ETF		141,095			12,196,252
iShares Intermediate Credit Bond ETF		35,349			1,877,032
iShares International Developed Real Estate ETF		24,143			691,697
iShares International Select Dividend ETF		49,082			1,601,546
iShares MSCI Eurozone ETF		72,492			2,972,534
iShares U.S. Real Estate ETF		8,727			698,334
iShares U.S. Preferred Stock ETF		126,155			4,684,135
TOTAL INVESTMENTS
(cost $46,382,396)		97.8	%		46,018,375
Other assets less liabilities		2.2			1,056,273
NET ASSETS		100.0	%	$	47,074,648

ETF – Exchange-Traded Fund

Futures Contracts

Number of Contracts	Type		Description	Expiration Month		Notional Basis*		Notional Value*		Unrealized Appreciation (Depreciation)
15		Short	Euro Currency Futures		December 2018	$	2,207,552	$	2,190,375	$	17,177
19		Short	Euro Stoxx 50 Index		December 2018		732,902		747,171		(14,269	)
6		Long	S&P 500 E-Mini Index		December 2018		873,105		875,700		2,595
5		Long	U.S. 10 Year Ultra Bonds		December 2018		640,886		630,000		(10,886	)
2		Short	U.S. Long Bond		December 2018		289,782		281,000		8,782
6		Short	U.S. Treasury 2 Year Notes		December 2018		1,268,342		1,264,406		3,936
5		Short	U.S. Treasury 5 Year Notes		December 2018		567,105		562,383		4,722
4		Short	U.S. Treasury 10 Year Notes		December 2018		481,344		475,125		6,219
5		Short	U.S. Ultra Bonds		December 2018		802,455		771,406		31,049
										$	49,325

* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

The following is a summary of the inputs used to value the Portfolio’s net assets as of September 30, 2018 (see Note 1):

	Level 1- Unadjusted Quoted Prices		Level 2 - Other Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*
Exchange-Traded Funds	$	46,018,375	$	—	$	—	$	46,018,375
Other Financial Instruments:+
Futures Contracts	$	74,480	$	—	$	—	$	74,480
LIABILITIES:
Other Financial Instruments:+
Futures Contracts	$	25,155	$	—	$	—	$	25,155

* For a detailed presentation of investments, please refer to the Portfolio of Investments.

+ Other financial instruments are derivative instruments, not reflected in the Portfolio of Investments, such as futures, forward, swap and written option contracts, which are valued at the unrealized appreciation (depreciation) on the instrument

The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. There were no transfers between Levels during the reporting period.

See Notes to Portfolio of Investments

Anchor Series Trust SA Wellington Strategic Multi-Asset Portfolio#

PORTFOLIO OF INVESTMENTS - September 30, 2018 - (unaudited)

Security Description	Shares/ Principal Amount(1)		Value (Note 1)
COMMON STOCKS - 58.9%
Aerospace/Defense - 1.4%
General Dynamics Corp.		1,805	$	369,519
Lockheed Martin Corp.		880		304,445
				673,964
Aerospace/Defense-Equipment - 1.7%
Airbus SE		3,255		408,836
Safran SA		2,920		409,205
				818,041
Airlines - 0.4%
JetBlue Airways Corp.†		9,197		178,054
Apparel Manufacturers - 0.5%
Carter’s, Inc.		805		79,373
Under Armour, Inc., Class A†		7,060		149,813
				229,186
Applications Software - 1.6%
Microsoft Corp.		2,749		314,403
salesforce.com, Inc.†		1,337		212,623
ServiceNow, Inc.†		1,118		218,715
				745,741
Athletic Footwear - 0.6%
NIKE, Inc., Class B		3,519		298,130
Audio/Video Products - 0.7%
Sony Corp.		5,499		337,142
Auto-Cars/Light Trucks - 0.7%
Ferrari NV		1,510		207,928
General Motors Co.		3,199		107,710
				315,638
Auto/Truck Parts & Equipment-Original - 1.3%
Aptiv PLC		1,705		143,049
Delphi Technologies PLC		5,248		164,577
Magna International, Inc.		2,595		136,315
Valeo SA		4,021		174,605
				618,546
Banks-Commercial - 1.7%
FinecoBank Banca Fineco SpA		8,172		109,255
First Republic Bank		2,595		249,120
HDFC Bank, Ltd. ADR		3,037		285,782
ING Groep NV		11,372		147,668
				791,825
Banks-Fiduciary - 0.6%
Northern Trust Corp.		2,583		263,802
Beverages-Wine/Spirits - 0.4%
Treasury Wine Estates, Ltd.		13,180		166,630
Building & Construction Products-Misc. - 0.5%
Fortune Brands Home & Security, Inc.		4,380		229,337
Building-Heavy Construction - 0.4%
China Tower Corp., Ltd.†*		1,408,314		206,884
Cellular Telecom - 0.7%
T-Mobile US, Inc.†		4,481		314,477
Commercial Services - 0.2%
Intertek Group PLC		1,422		92,524
Commercial Services-Finance - 1.8%
FleetCor Technologies, Inc.†		1,084		246,979
Global Payments, Inc.		1,606		204,604
IHS Markit, Ltd.†		4,288		231,380
PayPal Holdings, Inc.†		1,800		158,112
				841,075
Computer Services - 0.4%
Cognizant Technology Solutions Corp., Class A		2,164		166,953
Computer Software - 0.6%
Splunk, Inc.†		1,028		124,295
SS&C Technologies Holdings, Inc.		2,430		138,097
				262,392
Containers-Metal/Glass - 0.2%
Ball Corp.		2,137		94,007
Diagnostic Equipment - 1.7%
Danaher Corp.		4,132		448,983
Thermo Fisher Scientific, Inc.		1,389		339,027
				788,010
Diversified Banking Institutions - 2.6%
Bank of America Corp.		12,778		376,440
Sumitomo Mitsui Financial Group, Inc.		11,058		446,330
UBS Group AG		26,093		412,106
				1,234,876
Diversified Minerals - 0.7%
Anglo American PLC		13,830		310,588
E-Commerce/Products - 2.1%
Alibaba Group Holding, Ltd. ADR†		2,619		431,506
Amazon.com, Inc.†		278		556,834
				988,340
E-Commerce/Services - 1.6%
58.com, Inc. ADR†		1,975		145,360
Booking Holdings, Inc.†		152		301,568
Expedia Group, Inc.		1,623		211,769
TripAdvisor, Inc.†		1,457		74,409
				733,106
Electric-Integrated - 0.2%
Edison International		1,435		97,121
Iberdrola SA		134		986
				98,107
Electronic Components-Misc. - 0.7%
Flex, Ltd.†		24,650		323,408
Electronic Components-Semiconductors - 2.9%
Advanced Micro Devices, Inc.†		4,378		135,236
ams AG		2,226		124,433
Broadcom, Inc.		1,562		385,392
Micron Technology, Inc.†		4,153		187,840
NVIDIA Corp.		425		119,434
Samsung Electronics Co., Ltd.		5,266		220,515
Skyworks Solutions, Inc.		2,095		190,037
				1,362,887
Electronic Forms - 0.3%
Adobe Systems, Inc.†		555		149,822
Electronic Measurement Instruments - 0.4%
Agilent Technologies, Inc.		2,420		170,707
Enterprise Software/Service - 1.1%
Atlassian Corp. PLC, Class A†		1,046		100,563
Guidewire Software, Inc.†		1,133		114,444
Ultimate Software Group, Inc.†		449		144,663
Workday, Inc., Class A†		1,023		149,338
				509,008

Entertainment Software - 0.6%
Activision Blizzard, Inc.		3,652	303,810
Finance-Credit Card - 0.8%
Visa, Inc., Class A		2,653	398,189
Finance-Investment Banker/Broker - 0.5%
TD Ameritrade Holding Corp.		4,347	229,652
Finance-Leasing Companies - 0.4%
Air Lease Corp.		4,514	207,102
Finance-Other Services - 0.8%
Intercontinental Exchange, Inc.		4,911	367,785
Financial Guarantee Insurance - 0.2%
Assured Guaranty, Ltd.		2,687	113,472
Food-Catering - 0.4%
Aramark		4,424	190,321
Food-Misc./Diversified - 2.0%
Nestle SA		8,445	704,065
Post Holdings, Inc.†		2,294	224,904
			928,969
Hotels/Motels - 0.1%
Marriott International, Inc., Class A		448	59,149
Insurance-Multi-line - 0.7%
Ping An Insurance Group Co. of China, Ltd.		34,409	349,437
Insurance-Property/Casualty - 0.7%
Tokio Marine Holdings, Inc.		6,580	326,452
Internet Application Software - 0.8%
Tencent Holdings, Ltd.		9,609	396,716
Internet Content-Entertainment - 0.5%
Netflix, Inc.†		607	227,097
Internet Content-Information/News - 0.3%
Spotify Technology SA†		660	119,348
Investment Management/Advisor Services - 0.8%
BlackRock, Inc.		777	366,223
Medical Instruments - 0.6%
Medtronic PLC		3,107	305,636
Medical Products - 1.2%
Abbott Laboratories		4,930	361,665
Koninklijke Philips NV		4,272	194,606
			556,271
Medical-Biomedical/Gene - 0.2%
Bluebird Bio, Inc.†		635	92,710
Medical-Drugs - 1.3%
Bausch Health Cos., Inc.†		4,881	125,295
Bristol-Myers Squibb Co.		5,590	347,027
Eisai Co., Ltd.		1,400	136,279
			608,601
Medical-Generic Drugs - 0.3%
Mylan NV†		4,294	157,160
Medical-HMO - 1.2%
UnitedHealth Group, Inc.		2,043	543,520
Medical-Hospitals - 0.6%
HCA Healthcare, Inc.		2,058	286,309
Oil Companies-Exploration & Production - 1.6%
Concho Resources, Inc.†		1,307	199,644
Diamondback Energy, Inc.		860	116,264
EOG Resources, Inc.		3,432	437,820
			753,728
Oil Companies-Integrated - 0.6%
TOTAL SA		4,465	289,480
Oil Refining & Marketing - 0.3%
Valero Energy Corp.		1,165	132,519
Oil-Field Services - 0.7%
Halliburton Co.		7,764	314,675
Photo Equipment & Supplies - 0.3%
Sunny Optical Technology Group Co., Ltd.		11,100	128,038
Real Estate Investment Trusts - 0.8%
Public Storage		1,962	395,598
Real Estate Management/Services - 0.4%
Vonovia SE		3,731	182,285
Retail-Apparel/Shoe - 1.2%
Industria de Diseno Textil SA		8,344	252,949
Tapestry, Inc.		6,519	327,710
			580,659
Retail-Building Products - 0.3%
Lowe’s Cos., Inc.		1,400	160,748
Retail-Restaurants - 0.6%
Domino’s Pizza, Inc.		1,033	304,528
Schools - 0.7%
New Oriental Education & Technology Group, Inc. ADR†		4,159	307,808
Semiconductor Components-Integrated Circuits - 0.8%
Taiwan Semiconductor Manufacturing Co., Ltd.		41,520	356,958
Semiconductor Equipment - 0.3%
KLA-Tencor Corp.		1,264	128,561
Telephone-Integrated - 0.3%
SoftBank Group Corp.		1,311	132,346
Tobacco - 1.0%
British American Tobacco PLC		9,774	456,645
Transport-Equipment & Leasing - 0.6%
AerCap Holdings NV†		5,173	297,551
Transport-Rail - 1.0%
CSX Corp.		6,571	486,583
Transport-Truck - 0.2%
Old Dominion Freight Line, Inc.		655	105,625
Web Portals/ISP - 1.5%
Alphabet, Inc., Class C†		452	539,448
Yandex NV, Class A†		4,509	148,301
			687,749
Total Common Stocks
(cost $25,915,178)			27,649,220
EXCHANGE-TRADED FUNDS - 0.3%
iShares MSCI Japan ETF (cost $98,407)		2,006	120,822
U.S. CORPORATE BONDS & NOTES - 0.1%
Diversified Banking Institutions - 0.1%
Citigroup, Inc. FRS Senior Notes 3.25% (3 ML+0.93%) due 06/07/2019 (cost $45,288)	$	45,000	45,240

FOREIGN CORPORATE BONDS & NOTES - 0.1%
Auto-Cars/Light Trucks - 0.1%
Ford Credit Canada Co. Company Guar. Notes 2.94% due 02/19/2019 (cost $46,104)	CAD	60,000	46,508
FOREIGN GOVERNMENT OBLIGATIONS - 15.1%
Sovereign - 15.1%
Commonwealth of Australia Senior Notes 2.25% due 11/21/2022	AUD	60,000	43,455
Commonwealth of Australia Senior Notes 2.75% due 11/21/2027	AUD	85,000	61,881
Commonwealth of Australia Senior Notes 3.00% due 03/21/2047	AUD	100,000	70,187
Commonwealth of Australia Senior Notes 3.25% due 06/21/2039	AUD	25,000	18,619
Commonwealth of Australia Senior Bonds 4.25% due 04/21/2026	AUD	55,000	44,369
Commonwealth of Australia Senior Notes 5.75% due 05/15/2021	AUD	25,000	19,763
Federal Republic of Germany Bonds zero coupon due 10/07/2022	EUR	45,000	52,771
Federal Republic of Germany Bonds zero coupon due 04/14/2023	EUR	175,000	204,696
Federal Republic of Germany Bonds 0.25% due 10/16/2020	EUR	135,000	159,263
Federal Republic of Germany Bonds 0.50% due 02/15/2028	EUR	15,000	17,546
Federal Republic of Germany Bonds 2.50% due 07/04/2044	EUR	65,000	100,742
Federal Republic of Germany Bonds 4.25% due 07/04/2039	EUR	10,000	19,017
Government of Canada Bonds 0.75% due 03/01/2021	CAD	125,000	93,414
Government of Canada Bonds 1.50% due 06/01/2026	CAD	70,000	50,761
Government of Canada Bonds 3.50% due 12/01/2045	CAD	15,000	14,067
Government of Canada Bonds 4.00% due 06/01/2041	CAD	15,000	14,739
Government of Canada Bonds 5.75% due 06/01/2033	CAD	10,000	10,868
Government of Finland Notes 0.50% due 09/15/2027*	EUR	15,000	17,246
Government of Finland Bonds 1.13% due 04/15/2034*	EUR	5,000	5,885
Government of Finland Senior Notes 1.63% due 09/15/2022*	EUR	15,000	18,635
Government of France Bonds zero coupon due 02/25/2020	EUR	115,000	134,467
Government of France Bonds zero coupon due 05/25/2020	EUR	45,000	52,664
Government of France Bonds zero coupon due 05/25/2021	EUR	100,000	117,127
Government of France Bonds zero coupon due 03/25/2023	EUR	240,000	278,789
Government of France Bonds zero coupon due 03/25/2024	EUR	20,000	22,998
Government of France Bonds 0.75% due 05/25/2028	EUR	140,000	162,565
Government of France Bonds 1.25% due 05/25/2036*	EUR	60,000	69,135
Government of France Bonds 2.00% due 05/25/2048*	EUR	20,000	25,047
Government of France Bonds 3.25% due 05/25/2045	EUR	55,000	87,358
Government of France Bonds 5.75% due 10/25/2032†	EUR	35,000	65,726
Government of Japan Senior Bonds 0.10% due 12/20/2019	JPY	6,350,000	56,037
Government of Japan Senior Bonds 0.10% due 06/20/2020	JPY	35,000,000	309,163
Government of Japan Senior Notes 0.10% due 03/20/2027	JPY	27,750,000	244,758
Government of Japan Senior Notes 0.20% due 06/20/2036	JPY	42,300,000	350,325
Government of Japan Senior Notes 0.30% due 12/20/2024	JPY	25,000,000	224,263
Government of Japan Senior Notes 0.30% due 06/20/2046	JPY	6,800,000	51,831
Government of Japan Senior Notes 0.80% due 09/20/2023	JPY	2,200,000	20,186
Government of Japan Senior Notes 0.80% due 09/20/2047	JPY	17,000,000	146,874
Government of Japan Senior Notes 0.90% due 06/20/2022	JPY	23,450,000	213,915
Government of Japan Senior Notes 1.20% due 06/20/2021	JPY	6,500,000	59,216
Government of Japan Senior Bonds 1.70% due 06/20/2033	JPY	17,550,000	183,399

Government of Japan Senior Notes 1.80% due 03/20/2043	JPY	5,400,000	58,318
Government of Japan Senior Notes 1.90% due 09/20/2042	JPY	2,400,000	26,344
Government of Japan Senior Notes 2.10% due 03/20/2027	JPY	4,700,000	48,412
Government of Japan Senior Notes 2.20% due 09/20/2028	JPY	12,400,000	131,345
Government of Japan Senior Bonds 2.30% due 03/20/2039	JPY	650,000	7,495
Government of Malaysia Senior Notes 3.42% due 08/15/2022	MYR	75,000	17,907
Government of Malaysia Senior Notes 4.13% due 04/15/2032	MYR	50,000	11,569
Government of New Zealand Senior Notes 5.50% due 04/15/2023	NZD	200,000	152,654
Kingdom of Belgium Senior Notes 0.20% due 10/22/2023*	EUR	25,000	29,146
Kingdom of Belgium Bonds 0.80% due 06/22/2025*	EUR	10,000	11,920
Kingdom of Belgium Senior Notes 0.80% due 06/22/2027*	EUR	40,000	46,809
Kingdom of Belgium Senior Notes 0.80% due 06/22/2028*	EUR	20,000	23,145
Kingdom of Belgium Senior Notes 1.90% due 06/22/2038*	EUR	15,000	18,710
Kingdom of Belgium Senior Notes 3.00% due 06/22/2034*	EUR	10,000	14,471
Kingdom of Belgium Bonds 3.75% due 09/28/2020*	EUR	50,000	62,927
Kingdom of Belgium Senior Notes 3.75% due 06/22/2045	EUR	20,000	33,787
Kingdom of Denmark Bonds 1.75% due 11/15/2025	DKK	180,000	31,142
Kingdom of Denmark Bonds 4.50% due 11/15/2039	DKK	56,000	14,914
Kingdom of Norway Bonds 2.00% due 05/24/2023*	NOK	135,000	16,929
Kingdom of Spain Bonds 0.05% due 01/31/2021	EUR	75,000	87,202
Kingdom of Spain Senior Notes 0.35% due 07/30/2023	EUR	45,000	51,793
Kingdom of Spain Bonds 1.50% due 04/30/2027*	EUR	120,000	141,370
Kingdom of Spain Senior Bonds 1.95% due 04/30/2026*	EUR	45,000	55,338
Kingdom of Spain Senior Notes 2.35% due 07/30/2033*	EUR	30,000	36,490
Kingdom of Spain Senior Notes 2.70% due 10/31/2048*	EUR	5,000	5,943
Kingdom of Spain Senior Notes 2.90% due 10/31/2046*	EUR	20,000	25,016
Kingdom of Spain Senior Notes 4.70% due 07/30/2041*	EUR	20,000	32,968
Kingdom of Spain Senior Notes 4.80% due 01/31/2024*	EUR	35,000	49,416
Kingdom of Spain Senior Bonds 4.90% due 07/30/2040*	EUR	15,000	25,260
Kingdom of Spain Senior Notes 5.85% due 01/31/2022*	EUR	10,000	13,800
Kingdom of Sweden Bonds 0.75% due 05/12/2028	SEK	40,000	4,550
Kingdom of Sweden Bonds 1.00% due 11/12/2026	SEK	80,000	9,389
Kingdom of Sweden Bonds 5.00% due 12/01/2020	SEK	225,000	28,325
Kingdom of the Netherlands Bonds 0.75% due 07/15/2027*	EUR	30,000	35,632
Kingdom of the Netherlands Bonds 1.75% due 07/15/2023*	EUR	70,000	88,324
Kingdom of the Netherlands Bonds 2.75% due 01/15/2047*	EUR	10,000	16,276
Kingdom of the Netherlands Bonds 4.00% due 01/15/2037*	EUR	17,500	30,921
Republic of Austria Senior Notes zero coupon due 07/15/2023*	EUR	15,000	17,401
Republic of Austria Senior Notes 0.75% due 10/20/2026*	EUR	5,000	5,915
Republic of Austria Senior Notes 0.75% due 02/20/2028*	EUR	20,000	23,350
Republic of Austria Senior Notes 3.15% due 06/20/2044*	EUR	15,000	24,362
Republic of Austria Senior Notes 3.65% due 04/20/2022*	EUR	30,000	39,616
Republic of Austria Senior Notes 4.15% due 03/15/2037*	EUR	10,000	17,399
Republic of Finland Senior Notes 1.50% due 04/15/2023*	EUR	5,000	6,213

Republic of Ireland Bonds 0.90% due 05/15/2028	EUR	15,000			17,275
Republic of Ireland Bonds 1.00% due 05/15/2026	EUR	20,000			23,742
Republic of Ireland Bonds 2.00% due 02/18/2045	EUR	5,000			6,072
Republic of Ireland Bonds 3.40% due 03/18/2024	EUR	5,000			6,781
Republic of Italy Bonds 0.05% due 04/15/2021	EUR	125,000			139,624
Republic of Italy Bonds 0.35% due 06/15/2020	EUR	40,000			45,898
Republic of Italy Bonds 0.95% due 03/15/2023	EUR	180,000			197,679
Republic of Italy Bonds 2.05% due 08/01/2027	EUR	185,000			199,677
Republic of Italy Bonds 3.45% due 03/01/2048*	EUR	15,000			16,681
Republic of Italy Senior Bonds 3.50% due 03/01/2030*	EUR	35,000			41,619
Republic of Italy Bonds 4.75% due 09/01/2044*	EUR	10,000			13,646
Republic of Italy Bonds 5.00% due 09/01/2040	EUR	75,000			104,100
Republic of Poland Bonds 2.50% due 07/25/2026	PLN	40,000			10,383
Republic of Poland Bonds 5.75% due 09/23/2022	PLN	65,000			19,928
Republic of Singapore Senior Notes 3.50% due 03/01/2027	SGD	40,000			31,542
Republic of South Africa Bonds 8.25% due 03/31/2032	ZAR	650,000			41,335
United Kingdom Gilt Treasury Bonds 1.25% due 07/22/2027	GBP	75,000			95,878
United Kingdom Gilt Treasury Bonds 1.75% due 09/07/2022	GBP	115,000			153,938
United Kingdom Gilt Treasury Bonds 2.50% due 07/22/2065	GBP	13,000			20,780
United Kingdom Gilt Treasury Bonds 3.50% due 01/22/2045	GBP	80,000			137,631
United Kingdom Gilt Treasury Notes 3.75% due 07/22/2052	GBP	27,000			51,693
United Kingdom Gilt Treasury Bonds 4.25% due 03/07/2036	GBP	25,000			44,314
United Kingdom Gilt Treasury Bonds 4.25% due 12/07/2046	GBP	30,000			58,773
United Kingdom Gilt Treasury Bonds 4.75% due 03/07/2020	GBP	30,000			41,297
United Mexican States Senior Notes 8.50% due 11/18/2038	MXN	314,000			17,453
United Mexican States Bonds 10.00% due 11/20/2036	MXN	296,500			18,730
Total Foreign Government Obligations (cost $7,319,610)					7,100,449
U.S. GOVERNMENT TREASURIES - 7.5%
United States Treasury Bonds - 1.5%
2.50% due 05/15/2046		210,000			183,127
3.00% due 11/15/2045		305,000			294,146
5.00% due 05/15/2037		175,000			221,457
					698,730
United States Treasury Notes - 6.0%
1.38% due 04/30/2020		357,000			349,260
1.38% due 08/31/2023(3)		761,000			706,392
2.00% due 11/30/2020		475,000			466,595
2.00% due 02/28/2021		91,000			89,177
2.00% due 11/30/2022		45,000			43,356
2.00% due 11/15/2026		135,000			124,896
2.13% due 08/15/2021		550,000			538,570
2.25% due 07/31/2021		280,000			275,188
2.75% due 02/15/2028		230,000			224,241
					2,817,675
Total U.S. Government Treasuries (cost $3,584,356)					3,516,405
Total Long-Term Investment Securities (cost $37,008,943)					38,478,644
REPURCHASE AGREEMENTS - 17.8%
Bank of America Securities LLC Joint Repurchase Agreement(2)		1,625,000			1,625,000
Barclays Capital, Inc. Joint Repurchase Agreement(2)		540,000			540,000
BNP Paribas SA Joint Repurchase Agreement(2)		3,080,000			3,080,000
Deutsche Bank AG Joint Repurchase Agreement(2)		570,000			570,000
RBS Securities, Inc. Joint Repurchase Agreement(2)		2,530,000			2,530,000
Total Repurchase Agreements (cost $8,345,000)					8,345,000
TOTAL INVESTMENTS(2) (cost $45,353,943)		99.8	%		46,823,644
Other assets less liabilities		0.2			100,991
NET ASSETS		100.0	%	$	46,924,635

# Effective May 1, 2018 SA Wellington Multi-Asset Income Portfolio changed its name to SA Wellington Strategic Multi-Asset Portfolio.

† Non-income producing security

* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Portfolio has no right to demand registration of these securities. At September 30, 2018, the aggregate value of these securities was $1,329,845 representing 2.8% of net assets. Unless otherwise indicated, these securities are not considered to be illiquid.

(1) Denominated in United States dollars unless otherwise indicated.

(2) See Note 2 for details of Joint Repurchase Agreements.

(3) The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts.

ADR - American Depositary Receipt

ETF - Exchanged-Traded Fund

FRS - Floating Rate Security

The rates shown on FRS are the current interest rates at September 30, 2018 and unless noted otherwise, the dates shown are the original maturity dates.

Index Legend

3 ML - 3 Month USD Libor

Currency Legend

AUD - Australian Dollar

CAD - Canadian Dollar

DKK - Danish Krone

EUR - Euro Currency

GBP - British Sterling Pound

JPY - Japanese Yen

MXN - Mexican Peso

MYR - Malaysian Ringgit

NOK - Norwegian Krone

NZD - New Zealand Dollar

PLN - Polish Zloty

SEK - Swedish Krona

SGD - Singapore Dollar

ZAR - South African Rand

Futures Contracts

Number of Contracts	Type		Description	Expiration Month		Notional Basis*		Notional Value*		Unrealized Appreciation (Depreciation)
8		Long	MSCI EAFE Index		December 2018	$	777,220	$	790,200	$	12,980
8		Long	S&P 500 E-Mini Index		December 2018		1,160,530		1,167,600		7,070
21		Long	U.S. Treasury 10 Year Notes		December 2018		2,518,531		2,494,406		(24,125	)
										$	(4,075	)

* Notional basis refers to the contractual amount agreed upon at inception of the open contract. Notional Value represents the current value of the open contract.

Forward Foreign Currency Contracts

Counterparty	Contract to Deliver		In Exchange For		Delivery Date		Unrealized Appreciation		Unrealized Depreciation
Bank of America, N.A.	EUR	26,000	USD	30,231		10/04/2018	$	39	$	—
	GBP	672,000	USD	873,521		10/04/2018		—		(2,440	)
	SEK	60,000	USD	6,815		11/05/2018		46		—
	USD	6,763	JPY	765,000		11/05/2018		—		(14	)
								85		(2,454	)
Barclays Bank PLC	CAD	304,000	USD	232,951		10/04/2018		—		(2,424	)
	GBP	575,000	USD	752,218		11/05/2018		1,636		—
	JPY	3,125,000	USD	28,278		10/04/2018		770		—
	NOK	90,000	USD	11,033		10/04/2018		—		(26	)
	SEK	130,000	USD	14,652		10/04/2018		22		—
	USD	27,951	EUR	24,000		10/04/2018		—		(81	)
	USD	751,157	GBP	575,000		10/04/2018		—		(1,636	)
								2,428		(4,167	)
BNP Paribas SA	AUD	10,000	USD	7,176		10/04/2018		—		(53	)
	CHF	7,000	USD	7,186		10/04/2018		52		—
	GBP	20,000	USD	26,406		10/04/2018		335		—
	JPY	802,000	USD	7,202		10/04/2018		142		—
								529		(53	)
Canadian Imperial Bank of Commerce	USD	13,060	GBP	10,000		11/05/2018		—		(6	)
	USD	11,474	JPY	1,300,000		11/05/2018		—		(4	)
								—		(10	)
Citibank N.A.	AUD	15,000	USD	10,827		10/04/2018		—		(16	)
	AUD	366,000	USD	264,230		11/05/2018		—		(391	)
	EUR	14,000	USD	16,479		10/04/2018		221		—
	JPY	3,125,000	USD	28,137		10/04/2018		629		—
	NOK	30,000	USD	3,678		10/04/2018		—		(8	)
	NOK	89,000	USD	10,926		11/05/2018		—		(24	)
	SEK	110,000	USD	12,536		10/04/2018		157		—
	SGD	46,000	USD	33,643		11/05/2018		—		(32	)
	USD	275,106	AUD	381,000		10/04/2018		300		—
	USD	125,069	EUR	107,000		10/04/2018		—		(817	)
	USD	25,525	NOK	209,000		10/04/2018		156		—
	USD	33,618	SGD	46,000		10/04/2018		33		—
	USD	10,829	AUD	15,000		11/05/2018		16		—
	USD	3,683	NOK	30,000		11/05/2018		8		—
								1,520		(1,288	)
Commonwealth Bank of Australia	USD	208,366	EUR	180,000		10/04/2018		656		—
Credit Suisse International	USD	7,236	CHF	7,000		10/04/2018		—		(102	)
Goldman Sachs International	MYR	124,000	USD	30,017		10/04/2018		47		—
	MYR	124,000	USD	29,981		11/05/2018		33		—
	USD	30,002	MYR	124,000		10/04/2018		—		(32	)
								80		(32	)
HBSC Bank USA	EUR	36,000	USD	41,983		10/04/2018		179		—
	GBP	66,000	USD	85,810		10/04/2018		—		(222	)
	JPY	1,250,000	USD	11,276		10/04/2018		273		—
	PLN	103,000	USD	27,917		11/05/2018		—		(41	)
	USD	11,656	EUR	10,000		10/04/2018		—		(44	)
	USD	33,729	JPY	3,750,000		10/04/2018		—		(719	)
	USD	27,898	PLN	103,000		10/04/2018		41		—
								493		(1,026	)
JPMorgan Chase Bank N.A	AUD	532,000	USD	384,467		10/04/2018		—		(90	)
	CAD	8,000	USD	6,203		10/04/2018		9		—
	CAD	9,000	USD	6,922		11/05/2018		—		(51	)
	CHF	2,000	USD	2,057		11/05/2018		13		—
	EUR	106,000	USD	123,439		10/04/2018		348		—
	EUR	55,000	USD	64,168		11/05/2018		141		—
	GBP	30,000	USD	39,751		10/04/2018		646		—
	JPY	3,125,000	USD	28,267		10/04/2018		759		—
	JPY	281,000	USD	2,483		11/05/2018		4		—
	NOK	143,000	USD	17,329		10/04/2018		—		(243	)
	PLN	103,000	USD	28,067		10/04/2018		128		—
	SEK	50,000	USD	5,689		10/04/2018		62		—
	USD	127,841	AUD	176,000		10/04/2018		—		(620	)
	USD	18,575	CAD	24,000		10/04/2018		7		—
	USD	27,938	EUR	24,000		10/04/2018		—		(69	)
	USD	19,651	GBP	15,000		10/04/2018		—		(98	)
	USD	105,846	JPY	11,829,000		10/04/2018		—		(1,721	)
	USD	6,583	NOK	54,000		10/04/2018		53		—
	USD	41,817	ZAR	594,000		10/04/2018		177		—
	USD	8,218	CHF	8,000		11/05/2018		—		(42	)
	USD	9,304	EUR	8,000		11/05/2018		9		—
	USD	99,506	JPY	11,250,000		11/05/2018		—		(249	)
	USD	2,480	SEK	22,000		11/05/2018		2		—
	ZAR	594,000	USD	41,267		10/04/2018		—		(726	)
	ZAR	594,000	USD	41,640		11/05/2018		—		(176	)
								2,358		(4,085	)
Morgan Stanley and Co. International PLC	DKK	319,000	USD	49,876		11/05/2018		69		—
	EUR	3,248,000	USD	3,774,273		11/05/2018		—		(6,837	)
	NZD	231,000	USD	153,259		10/04/2018		139		—
	NZD	231,000	USD	152,902		11/05/2018		—		(246	)
	SEK	429,000	USD	46,905		10/04/2018		—		(1,373	)
	SEK	719,000	USD	81,289		11/05/2018		165		—
	SGD	46,000	USD	33,712		10/04/2018		61		—
	USD	49,743	DKK	319,000		10/04/2018		—		(69	)
	USD	3,756,727	EUR	3,241,000		10/04/2018		6,830		—
	USD	258,755	GBP	198,000		10/04/2018		—		(659	)
	USD	28,337	JPY	3,154,000		10/04/2018		—		(574	)
	USD	152,876	NZD	231,000		10/04/2018		245		—
	USD	81,078	SEK	719,000		10/04/2018		—		(164	)
	USD	22,103	JPY	2,500,000		11/05/2018		—		(45	)
								7,509		(9,967	)
Royal Bank of Canada	CAD	16,000	USD	12,302		10/04/2018		—		(86	)
	CAD	304,000	USD	233,891		11/05/2018		—		(1,643	)
	JPY	2,257,000	USD	19,957		11/05/2018		44		—
	MXN	664,000	USD	34,501		10/04/2018		—		(969	)
	MXN	664,000	USD	35,057		11/05/2018		—		(236	)
	USD	233,738	CAD	304,000		10/04/2018		1,636		—
	USD	35,234	MXN	664,000		10/04/2018		237		—
	USD	12,310	CAD	16,000		11/05/2018		86		—
								2,003		(2,934	)
Standard Chartered Bank	EUR	2,000	USD	2,358		10/04/2018		35		—
State Street Bank and Trust Company	EUR	52,000	USD	60,522		11/05/2018		—		(13	)
	JPY	240,763,000	USD	2,176,526		10/04/2018		57,196		—
	USD	15,156	JPY	1,700,000		10/04/2018		—		(192	)
								57,196		(205	)
Toronto Dominion Bank	EUR	3,402,000	USD	3,980,340		10/04/2018		29,824		—
UBS AG	DKK	319,000	USD	50,192		10/04/2018		518		—
Net Unrealized Appreciation/(Depreciation)							$	105,234	$	(26,323	)

AUD - Australian Dollar

CAD - Canadian Dollar

CHF - Swiss Franc

DKK - Danish Krone

EUR - Euro Currency

GBP - British Pound Sterling

JPY - Japanese Yen

MXN - Mexican Peso

MYR - Myalaysian Ringgit

NOK - Norwegian Krone

NZD - New Zealand Dollar

PLN - Polish Zloty

SEK - Swedish Krona

SGD - Singapore Dollar

USD - United States Dollar

ZAR - South African Rand

The following is a summary of the inputs used to value the Portfolio’s net assets as of September 30, 2018 (see Note 1):

	Level 1 - Unadjusted Quoted Prices		Level 2 - Other Observable Inputs		Level 3 - Significant Unobservable Inputs		Total
ASSETS:
Investments at Value:*
Common Stocks	$	27,649,220	$	—	$	—	$	27,649,220
Exchange-Traded Funds		120,822		—		—		120,822
U.S. Corportate Bonds & Notes		—		45,240		—		45,240
Foreign Corportate Bonds & Notes		—		46,508		—		46,508
Foreign Government Obligations		—		7,100,449		—		7,100,449
U.S. Government Treasuries		—		3,516,405		—		3,516,405
Repurchase Agreements		—		8,345,000		—		8,345,000
Total Investments at Value	$	27,770,042	$	19,053,602	$	—	$	46,823,644
Other Financial Instruments:+
Futures Contracts	$	20,050	$	—	$	—	$	20,050
Forward Foreign Currency Contracts		—		105,234		—		105,234
	$	20,050	$	105,234	$	—	$	125,284
LIABILITIES
Other Financial Instruments:+
Futures Contracts	$	24,125	$	—	$	—	$	24,125
Forward Foreign Currency Contracts		—		26,323		—		26,323
	$	24,125	$	26,323	$	—	$	50,448

* For a detailed presentation of investments, please refer to the Portfolio of Investments.

+ Other Financial Instruments are derivative Instruments, not reflected in the Portfolio of Investments, such as futures, forward, swap and written option contracts, which are valued at the unrealized appreciation (depreciation) on the instrument.

The Portfolio’s policy is to recognize transfers between Levels as of the end of the reporting period. Securities currently valued at $5,086,744 were transferred from Level 2 to Level 1 due to foreign equity securities whose values were previously adjusted for fair value pricing procedures for foreign equity securities. There were no additional transfers between Levels during the reporting period.

See Notes to Portfolio of Investments

NOTES TO PORTFOLIO OF INVESTMENTS — September 30, 2018 — (unaudited)

Note 1. Security Valuation

In accordance with the authoritative guidance on fair value measurements and disclosures under accounting principles generally accepted in the United States of America (“GAAP”), the Portfolios disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. In accordance with GAAP, fair value is defined as the price that the Portfolios would receive upon selling an asset or transferring a liability in a timely transaction to an independent third party in the principal or most advantageous market. GAAP establishes a three-tier hierarchy to provide more transparency around the inputs used to measure fair value and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-tiers are as follows:

Level 1 – Unadjusted quoted prices in active markets for identical securities

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with pricing procedures approved by the Board of Trustees (the “Board”), etc.)

Level 3 – Significant unobservable inputs (includes inputs that reflect the Portfolios’ own assumptions about the assumptions market participants would use in pricing the security, developed based on the best information available under the circumstances)

Changes in valuation techniques may result in transfers in or out of an investment’s assigned Level within the hierarchy. The methodology used for valuing investments is not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is recently issued and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The summary of each Portfolio’s asset and liabilities classified in the fair value hierarchy as of September 30, 2018 is reported on a schedule at the end of each Portfolio’s Portfolio of Investments.

Stocks are generally valued based upon closing sales prices reported on recognized securities exchanges on which the securities are principally traded and are generally categorized as Level 1. Stocks listed on the NASDAQ are valued using the NASDAQ Official Closing Price (“NOCP”). Generally, the NOCP will be the last sale price unless the reported trade for the stock is outside the range of the bid/ask price. In such cases, the NOCP will be normalized to the nearer of the bid or ask price. For listed securities having no sales reported and for unlisted securities, such securities will be valued based upon the last reported bid price.

As of the close of regular trading on the New York Stock Exchange (“NYSE”), securities traded primarily on security exchanges outside the United States are valued at the last sale price on such exchanges on the day of valuation, or if there is no sale on the day of valuation, at the last-reported bid price. If a security’s price is available from more than one exchange, the Portfolios use the exchange that is the primary market for the security. Such securities are

generally categorized as Level 1. However, depending on the foreign market, closing prices may be up to 15 hours old when they are used to price a Portfolio’s shares, and the Portfolio may determine that certain closing prices do not reflect the fair value of the security. This determination will be based on review of a number of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. If a Portfolio determines that closing prices do not reflect the fair value of the securities, the Portfolio will adjust the previous closing prices in accordance with pricing procedures approved by the Board to reflect what it believes to be the fair value of the securities as of the close of regular trading on the NYSE. The Portfolios may also fair value securities in other situations, for example, when a particular foreign market is closed but a Portfolio is open. For foreign equity securities and foreign equity futures contracts, the Portfolios use an outside pricing service to provide it with closing market prices and information used for adjusting those prices, and when so adjusted, such securities and futures are generally categorized as Level 2.

Bonds, debentures and other debt securities are valued at evaluated bid prices obtained for the day of valuation from a Board-approved pricing service, and are generally categorized as Level 2. The pricing service may use valuation models or matrix pricing which considers information with respect to comparable bond and note transactions, quotations from bond dealers, or by reference to other securities that are considered comparable in such characteristics as rating, interest rate, and maturity date, option adjusted spread models, prepayments projections, interest rate spreads, and yield curves to determine current value. If a price is unavailable from a Board-approved pricing service, the securities may be priced at the mean of two independent quotes obtained from brokers.

Senior floating rate loans (“Loans”) are valued at the average of available bids in the market for such Loans, as provided by a Board-approved loan pricing service, and are generally categorized as Level 2.

Investments in registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Registered investment companies are generally categorized as Level 1.

Futures contracts traded on national securities exchanges are valued at the quoted daily settlement price established by the exchange on which they trade reported by a Board-approved pricing service, and are generally categorized as Level 1. Option contracts traded on national securities exchanges are valued at the mean of the last bid and ask price reported by a Board-approved pricing service as of the close of the exchange for which they are traded, and are generally categorized as Level 1. Option contracts traded in the over-the-counter (“OTC”) market are valued at the mid valuation provided by a Board-approved pricing service, and are generally categorized as Level 2. Forward foreign currency contracts (“forward contracts”) are valued at the 4:00 p.m. Eastern Time forward rate and are generally categorized as Level 2.

Other securities are valued on the basis of last sale or bid price (if a last sale price is not available) in what is, in the opinion of the Adviser, the broadest and most representative market, that may be either a securities exchange or over-the-counter market, and are generally categorized as Level 1 or Level 2.

The Board is responsible for the share valuation process and has adopted policies and procedures (the “PRC procedures”) for valuing the securities and other assets held by the Portfolios, including procedures for the fair valuation of securities and other assets for which market quotations are not readily available or are unreliable. The PRC Procedures provide for the establishment of a pricing review committee, which is responsible for, among other things, making certain determinations in connection with the Trust’s fair valuation procedures. Securities for which market quotations are not readily available or the values of which may be significantly impacted by the occurrence of developments or significant events are generally categorized as Level 3. There is no single standard for making fair value determinations, which may result in prices that vary from those of other funds.

Note 2. Repurchase Agreements

As of September 30, 2018, the following Portfolios held an undivided interest in a joint repurchase agreement with Bank of America Securities LLC:

	Percentage			Principal
Portfolio	Ownership			Amount
SA Wellington Government and Quality Bond		62.66	%	$	28,195,000
SA Wellington Growth and Income		0.46			205,000
SA Wellington Growth		1.19			535,000
SA Wellington Capital Appreciation		4.78			2,150,000
SA Wellington Natural Resources		0.58			260,000
SA Wellington Strategic Multi-Asset		3.61			1,625,000

As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:

Bank of America Securities LLC, dated September 28, 2018, bearing interest at a rate of 2.24% per annum, with a principal amount of $45,000,000, a repurchase price of $45,008,400, and a maturity date of October 1, 2018. The repurchase agreement is collateralized by the following:

Type of Collateral	Interest Rate			Maturity Date		Principal Amount		Value
U.S. Treasury Notes		1.25	%		06/30/2019	$	46,306,000	$	46,007,779

As of September 30, 2018, the following Portfolios held an undivided interest in a joint repurchase agreement with Barclays Capital, Inc.:

Portfolio	Percentage Ownership			Principal Amount
SA Wellington Government and Quality Bond		62.63	%	$	9,395,000
SA Wellington Growth and Income		0.43			65,000
SA Wellington Growth		1.17			175,000
SA Wellington Capital Appreciation		4.77			715,000
SA Wellington Natural Resources		0.57			85,000
SA Wellington Strategic Multi-Asset		3.60			540,000

As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:

Barclays Capital, Inc., dated September 28, 2018, bearing interest at a rate of 2.20% per annum, with a principal amount of $15,000,000, a repurchase price of $15,002,750, and a maturity date of October 1, 2018. The repurchase agreement is collateralized by the following:

Type of Collateral	Interest Rate			Maturity Date		Principal Amount		Value
U.S. Treasury Notes		2.50	%		05/15/2024	$	15,514,000	$	15,270,540

As of September 30, 2018, the following Portfolios held an undivided interest in a joint repurchase agreement with BNP Paribas SA:

Portfolio	Percentage Ownership			Principal Amount
SA Wellington Government and Quality Bond		62.68	%	$	53,280,000
SA Wellington Growth and Income		0.48			410,000
SA Wellington Growth		1.21			1,030,000
SA Wellington Capital Appreciation		4.79			4,070,000
SA Wellington Natural Resources		0.59			500,000
SA Wellington Strategic Multi-Asset		3.62			3,080,000

As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:

BNP Paribas SA, dated September 28, 2018, bearing interest at a rate of 2.22% per annum, with a principal amount of $85,000,000, a repurchase price of $85,015,725, and a maturity date of October 1, 2018. The repurchase agreement is collateralized by the following:

Type of Collateral	Interest Rate			Maturity Date		Principal Amount		Value
U.S. Treasury Notes		2.38	%		08/15/2024	$	89,302,200	$	86,599,929

As of September 30, 2018, the following Portfolios held an undivided interest in a joint repurchase agreement with Deutsche Bank AG:

Portfolio	Percentage Ownership			Principal Amount
SA Wellington Government and Quality Bond		62.65	%	$	9,940,000
SA Wellington Growth and Income		0.44			70,000
SA Wellington Growth		1.17			185,000
SA Wellington Capital Appreciation		4.76			755,000
SA Wellington Natural Resources		0.57			90,000
SA Wellington Strategic Multi-Asset		3.59			570,000

As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:

Deutsche Bank AG, dated September 28, 2018, bearing interest at a rate of 2.23% per annum, with a principal amount of $15,865,000, a repurchase price of $15,867,948, and a maturity date of October 1, 2018. The repurchase agreement is collateralized by the following:

Type of Collateral	Interest Rate			Maturity Date		Principal Amount		Value
U.S. Treasury Notes		2.13	%		05/15/2025	$	17,085,000	$	16,309,182

As of September 30, 2018, the following Portfolios held an undivided interest in a joint repurchase agreement with RBS Securities, Inc.:

Portfolio	Percentage Ownership			Principal Amount
SA Wellington Government and Quality Bond		62.66	%	$	43,865,000
SA Wellington Growth and Income		0.46			320,000
SA Wellington Growth		1.19			835,000
SA Wellington Capital Appreciation		4.78			3,345,000
SA Wellington Natural Resources		0.57			400,000
SA Wellington Strategic Multi-Asset		3.61			2,530,000

As of such date, the repurchase agreement in that joint account and the collateral thereof were as follows:

RBS Securities, Inc., dated September 28, 2018, bearing interest at a rate of 2.23% per annum, with a principal amount of $70,000,000, a repurchase price of $70,013,008, and a maturity date of October 1, 2018. The repurchase agreement is collateralized by the following:

Type of Collateral	Interest Rate			Maturity Date		Principal Amount		Value
U.S. Treasury Bills		2.42	%		05/23/2019	$	72,610,000	$	71,469,932

Note 3. Derivative Instruments

Forward Foreign Currency Contracts: During the period, the SA Wellington Strategic Multi-Asset Portfolio used forward contracts to attempt to protect the value of securities and related receivables and payables against changes in future foreign exchange rates to manage and/or gain exposure to certain foreign currencies and/or to attempt to enhance return.

A forward contract is an agreement between two parties to buy or sell currency at a set price on a future date. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked-to-market daily using the forward rate and the cumulative change in market value is recorded by the Portfolio as unrealized appreciation or depreciation. On the settlement date, the Portfolio records either realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Risks to the Portfolios of entering into forward contracts include counterparty risk, market risk and illiquidity risk. Counterparty risk arises upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts. If the counterparty defaults, a Portfolio’s loss will generally consist of the net amount of contractual payments that a Portfolio has not yet received though the Portfolio’s maximum risk due to counterparty risk could extend to the notional amount of the contract. Market risk is the risk that the value of the forward contract will depreciate due to unfavorable changes in the exchange rates. These contracts may involve market risk in excess of the unrealized appreciation or depreciation reported in the Portfolio of Investments. Illiquidity risk arises because the secondary market for forwards may have less liquidity relative to markets for other securities. Currency transactions are also subject to risks different from those of other Portfolio transactions. Because currency control is of great importance to the issuing governments and influences economic planning and policy, purchases and sales of currency and related instruments can be adversely affected by government exchange controls, limitations or restrictions on repatriation of currency, and manipulations or exchange restrictions imposed by governments.

Forward foreign currency contracts outstanding at the end of the period, if any, are reported on a schedule at the end of the Portfolio’s Portfolio of Investments.

Futures: During the period, SA BlackRock Multi-Asset Income, SA Wellington Government and Quality Bond and the SA Wellington Strategic Multi-Asset Portfolios used futures contracts to attempt to increase or decrease exposure to equity, bond and currency markets and to manage duration and yield curve positioning.

A futures contract is an agreement between two parties to buy and sell a financial instrument at a set price on a future date. Upon entering into a futures transaction, a Portfolio will be required to segregate an initial margin payment of cash or other liquid securities with the futures commission merchant (the “broker”). Subsequent payments are made or received by the Portfolio as a result of changes in the value of the contract and/or changes in the value of the initial margin requirement. When a contract is closed, the Portfolios record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

The primary risk to the Portfolios of entering into futures contracts is market risk. Market risk is the risk that there will be an unfavorable change in the interest rate, value or currency rate of the underlying security(ies). Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin. There may also be trading restrictions or limitations imposed by an exchange, and government regulations may restrict trading in futures contracts. While the Portfolios will generally only purchase exchange-traded futures, due to market conditions, there may not always be a liquid secondary market for a futures contract and, as a result, a Portfolio may be unable to close out its futures contracts at a time which is advantageous. In addition, if a Portfolio has insufficient cash to meet margin requirements, the Portfolio may need to sell other investments, including at disadvantageous times. There is generally minimal counterparty risk to the Portfolios since futures contracts are generally exchange-traded.

Future contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Portfolio’s Portfolio of Investments.

Master Agreements: Certain Portfolios that hold derivative instruments and other financial instruments may be a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements or similar agreements (“Master Agreements”) with certain counterparties that govern such instruments. Master Agreements may contain provisions regarding, among other things, the parties’ general obligations, representations, agreements, collateral requirements, events of default and early termination. Collateral can be in the form of cash or securities as agreed to by the Portfolio and applicable counterparty. Collateral requirements are generally determined based on a Portfolio’s net position with each counterparty. Master Agreements may also include certain provisions that require a Portfolio to post additional collateral upon the occurrence of certain events, such as when a Portfolio’s net assets fall below a specified level. In addition, Master Agreements typically specify certain standard termination events, such as failure of a party to pay or deliver, credit support defaults and other events of default. Termination events applicable to a Portfolio may also occur upon a decline in a Portfolio’s net assets below a specified level over a certain period of time. Additional termination events applicable to counterparties may occur upon a decline in a counterparty’s long-term and short-term credit ratings below a specified level, or upon a decline in the ratings of a counterparty’s credit support provider. Upon the occurrence of a termination event, the other party may elect to terminate early and cause settlement of all instruments outstanding pursuant to a particular Master Agreement, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of a Portfolio’s counterparties to elect early termination could cause the Portfolio to accelerate the payment of liabilities, which settlement amounts could be in excess of the amount of assets that are already posted as collateral. Typically, the Master Agreement will permit a single net payment in the event of default. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. As a result, the early termination with respect to derivative instruments subject to Master Agreements that are in a net liability position could be material to a Portfolio’s financial statements.

The following tables present the value of derivatives held as of September 30, 2018, by their primary underlying risk exposure. The derivative contracts held under the period are not accounted for as hedging instruments under GAAP. For a detailed presentation of derivatives held as of September 30, 2018, please refer to the schedule at the end of each Portfolio’s Portfolio of Investments.

	Asset Derivatives
	Interest Rate Contracts		Equity Contracts		Foreign Exchange Contracts
Portfolio	Futures Contracts(1)		Futures Contracts(1)		Forward Foreign Currency Contracts(2)		Futures Contracts(1)		Total
SA Wellington Government and Quality Bond	$	37,680	$	—	$	—	$	—	$	37,680
SA BlackRock Multi-Asset Income		2,031		10,810		—		9,094		21,935
SA Wellington Strategic Multi-Asset		609		17,655		105,234		—		123,498
	Liability Derivatives
	Interest Rate Contracts		Equity Contracts		Foreign Exchange Contracts
Portfolio	Futures Contracts(1)		Futures Contracts(1)		Forward Foreign Currency Contracts(2)		Futures Contracts(1)		Total
SA Wellington Government and Quality Bond	$	1,250	$	—	$	—	$	—	$	1,250
SA BlackRock Multi-Asset Income		680		270		—		—		950
SA Wellington Strategic Multi-Asset		—		360		26,323		—		26,683

(1) The variation margin on futures contracts is included in the cumulative appreciation (depreciation) as reported on each Portfolio’s Portfolio of Investments in the following amounts:

Portfolio	Cumulative Appreciation (Depreciation)
SA Wellington Government and Quality Bond	$	516,438
SA BlackRock Multi-Asset Income		49,325
SA Wellington Strategic Multi-Asset		(4,075	)

(2) Reported as unrealized appreciation (depreciation) on the Portfolio of Investments

ADDITIONAL INFORMATION

Additional information is available in the Trust’s Annual and Semiannual reports, which may be obtained without charge from the EDGAR database on the Securities and Exchange Commission’s website at http://www.sec.gov.

Item 2. Controls and Procedures.

a) An evaluation was performed within 90 days of the filing of this report, under the supervision and with the participation of the registrant’s management, including the President and Treasurer, of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures (as defined under Rule 30a-3(c) under the Investment Act of 1940 (17 CFR 270.30a-3(c))). Based on that evaluation, the registrant’s management, including the President and Treasurer, concluded that the registrant’s disclosure controls and procedures are effective.

b) There was no change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d))) 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.

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) attached hereto as Exhibit 99. CERT.

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.

Anchor Series Trust

BY:	/s/ John T. Genoy
	John T. Genoy   President
Date:	November 28, 2018

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/ John T. Genoy
	John T. Genoy   President
Date:	November 28, 2018

BY:	/s/ Gregory R. Kingston
	Gregory R. Kingston   Treasurer
Date:	November 28, 2018