MONY SERIES FUND, INC.

Equity Growth Portfolio

Portfolio of Investments (Unaudited)

June 30, 2002

Domestic Common Stocks — 76.79%	Number of Shares or Principal Amount	Value
Aerospace — 3.06%
Northrop Grumman Corporation	200	$	25,000
Raytheon Company	500		20,375
			45,375
Automotive — 2.33%
Cummins Inc.	400		13,240
General Motors Corporation	400		21,380
			34,620
Banking — 2.09%
Bank of America Corporation	200		14,072
J. P. Morgan Chase & Company	500		16,960
			31,032
Biotechnology — 0.85%
Amgen Inc. (a)	300		12,564
Business Services — 0.88%
Automatic Data Processing Inc.	300		13,065
Cable — 0.96%
Comcast Corporation (Class A) (a)	600		14,304
Chemicals — 2.95%
Dow Chemical Company	500		17,190
Du Pont (E. I.) de Nemours & Company	600		26,640
			43,830
Computer Hardware — 3.29%
Cisco Systems Inc. (a)	900		12,555
Dell Computer Corporation (a)	400		10,456
EMC Corporation (a)	700		5,285
Hewlett-Packard Company	400		6,112
International Business Machines Corporation	200		14,400
			48,808
Computer Services — 0.24%
Sun Microsystems Inc. (a)	700		3,507
Computer Software — 3.22%
Microsoft Corporation (a)	700		38,290
Oracle Corporation (a)	1,000		9,470
			47,760
Crude & Petroleum — 3.12%
ChevronTexaco Corporation	200		17,700
Exxon Mobil Corporation	700		28,644
			46,344
Electrical Equipment — 3.14%
Emerson Electric Company	600		32,106
General Electric Company	500		14,525
			46,631
Energy — 0.16%
Williams Companies Inc.	400		2,396
Finance — 1.48%
Goldman Sachs Group Inc.	300		22,005
Food, Beverages & Tobacco — 2.38%
Coca-Cola Company	200		11,200
PepsiCo Inc.	500		24,100
			35,300

	Number of Shares or Principal Amount	Value
Machinery — 3.26%
Caterpillar Inc.	500	$	24,475
Deere & Company	500		23,950
			48,425
Manufacturing — 1.84%
Ingersoll-Rand Company Ltd.	600		27,396
Medical Instruments — 0.10%
Zimmer Holdings Inc. (a)	40		1,426
Metals & Mining — 1.31%
Alcoa Inc.	400		13,260
El Paso Corporation	300		6,183
			19,443
Misc. Financial Services — 3.95%
Citigroup Inc.	500		19,375
Fannie Mae	300		22,125
Morgan Stanley Dean Witter & Company	400		17,232
			58,732
Multi-Line Insurance — 1.84%
American International Group Inc.	400		27,292
Oil Services — 5.94%
Baker Hughes Inc.	300		9,987
BJ Services Company (a)	200		6,776
Diamond Offshore Drilling Inc.	300		8,550
Ensco International Inc.	300		8,178
GlobalSantaFe Corporation	400		10,940
Kerr-McGee Corporation	200		10,710
Nabors Industries Ltd. (a)	100		3,530
Phillips Petroleum Company	200		11,776
Schlumberger Ltd.	100		4,650
Tidewater Inc.	400		13,168
			88,265
Paper & Forest Products — 2.92%
Georgia-Pacific Group	700		17,206
International Paper Company	600		26,148
			43,354
Paper Products — 1.58%
MeadWestvaco Corporation	700		23,492
Pharmaceuticals — 9.80%
Baxter International Inc.	400		17,780
Bristol-Myers Squibb Company	300		7,710
Eli Lilly & Company	200		11,280
Gilead Sciences Inc.	600		19,728
Johnson & Johnson	500		26,130
MedImmune Inc. (a)	400		10,560
Merck & Company Inc.	200		10,128
Pfizer Inc.	700		24,500
Pharmacia Corporation	200		7,490
Wyeth	200		10,240
			145,546
Raw Materials — 1.72%
Weyerhaeuser Company	400		25,540
Retail — 4.49%
Home Depot Inc.	400		14,692
Target Corporation	500		19,050
Wal-Mart Stores Inc.	600		33,006
			66,748

1

MONY SERIES FUND, INC.

Equity Growth Portfolio — (Continued)

Portfolio of Investments (Unaudited)

June 30, 2002

	Number of Shares or Principal Amount	Value
Semiconductors — 3.96%
Analog Devices Inc. (a)	400	$	11,880
Applied Materials Inc. (a)	800		15,216
Intel Corporation	900		16,443
Novellus Systems Inc.	100		3,400
Texas Instruments Inc.	500		11,850
			58,789
Telecommunications — 3.44%
BellSouth Corporation	500		15,750
SBC Communications Inc.	500		15,250
Verizon Communications Inc.	500		20,075
			51,075
Wireless Communications — 0.49%
Motorola Inc.	500		7,210
Total Domestic Common Stocks
(Identified cost $1,289,647)			1,140,274

	Number of Shares or Principal Amount	Value
Foreign Stocks — 1.26%
Crude & Petroleum — 0.68%
BP Amoco (ADR)	200	$	10,098
Oil Services — 0.58%
Weatherford Bermuda (a)	200		8,640
Total Foreign Stocks
(Identified cost $19,720)			18,738
Total Investments
(Identified cost $1,309,367)		$	1,159,012
Other Assets Less Liabilities — 21.95%			326,038
Net Assets — 100%		$	1,485,050

(a)  Non-income producing security.

(ADR)  American Depository Receipt.

See notes to financial statements.

2

MONY SERIES FUND, INC.

Equity Income Portfolio

Portfolio of Investments (Unaudited)

June 30, 2002

Domestic Common Stocks — 91.63%	Number of Shares or Principal Amount	Value
Aerospace — 6.16%
Honeywell International Inc.	4,000	$	140,920
Northrop Grumman Corporation	2,000		250,000
Raytheon Company	4,000		163,000
United Technologies Corporation	2,500		169,750
			723,670
Automotive — 6.95%
Cummins Inc.	3,000		99,300
Ford Motor Company	6,000		96,000
General Motors Corporation	3,000		160,350
Johnson Controls Inc.	2,500		204,025
TRW Inc.	4,500		256,410
			816,085
Banking — 3.15%
Bank of America Corporation	1,800		126,648
J. P. Morgan Chase & Company	3,500		118,720
Wells Fargo & Company	2,500		125,150
			370,518
Chemicals — 2.46%
Dow Chemical Company	3,500		120,330
Du Pont (E. I.) de Nemours & Company	3,800		168,720
			289,050
Computer Hardware — 0.39%
Hewlett-Packard Company	3,000		45,840
Conglomerates — 1.60%
Textron Inc.	4,000		187,600
Construction — 0.83%
Fluor Corporation	2,500		97,375
Consumer Non-Durables — 1.33%
Avon Products Inc.	3,000		156,720
Consumer Products — 3.50%
Gillette Company	2,500		84,675
Kimberly-Clark Corporation	1,000		62,000
Procter & Gamble Company	1,500		133,950
Whirlpool Corporation	2,000		130,720
			411,345
Crude & Petroleum — 3.54%
Burlington Resources Inc.	2,000		76,000
ChevronTexaco Corporation	1,300		115,050
Exxon Mobil Corporation	5,500		225,060
			416,110
Electrical Equipment — 3.53%
Dominion Resources Inc.	2,300		152,260
Emerson Electric Company	3,000		160,530
General Electric Company	3,500		101,675
			414,465
Energy — 1.77%
Duke Energy Corporation	2,000		62,200
Entergy Corporation	3,000		127,320
Williams Companies Inc.	3,000		17,970
			207,490
Food, Beverages & Tobacco — 3.49%
Anheuser-Busch Companies, Inc.	2,500		125,000
Coca-Cola Company	2,500		140,000
PepsiCo Inc.	3,000		144,600
			409,600

	Number of Shares or Principal Amount	Value
Insurance — 0.83%
St. Paul Companies Inc.	2,500	$	97,300
Machinery — 4.82%
Caterpillar Inc.	4,000		195,800
Deere & Company	4,000		191,600
Pitney Bowes Inc.	4,500		178,740
			566,140
Manufacturing — 5.52%
3M Company	2,000		246,000
Eaton Corporation	2,700		196,425
Ingersoll-Rand Company Ltd.	4,500		205,470
			647,895
Metals & Mining — 2.73%
Alcoa Inc.	4,500		149,175
El Paso Energy Corporation	2,000		41,220
Nucor Corporation	2,000		130,080
			320,475
Misc. Financial Services — 3.68%
Citigroup Inc.	4,000		155,000
Fannie Mae	2,000		147,500
Morgan Stanley Dean Witter & Company	3,000		129,240
			431,740
Multi-Line Insurance — 2.14%
Lincoln National Corporation	3,000		126,000
Marsh & McLennan Companies Inc.	1,300		125,580
			251,580
Oil Services — 5.67%
Baker Hughes Inc.	2,000		66,580
Diamond Offshore Drilling Inc.	2,500		71,250
Kerr-McGee Corporation	1,500		80,325
KeySpan Corporation	4,000		150,600
Murphy Oil Corporation	800		66,000
Phillips Petroleum Company	1,300		76,544
Schlumberger Ltd.	1,200		55,800
Tidewater Inc.	3,000		98,760
			665,859
Paper & Forest Products — 2.72%
Georgia-Pacific Group	5,000		122,900
International Paper Company	4,500		196,110
			319,010
Paper Products — 1.43%
MeadWestvaco Corporation	5,000		167,800
Pharmaceuticals — 8.12%
Abbott Laboratories	2,500		94,125
Baxter International Inc.	3,000		133,350
Bristol-Myers Squibb Company	3,000		77,100
Eli Lilly & Company	1,300		73,320
Johnson & Johnson	3,000		156,780
Merck & Company Inc.	2,000		101,280
Pfizer Inc.	5,000		175,000
Pharmacia Corporation	1,500		56,175
Wyeth	1,700		87,040
			954,170
Printing & Publishing — 1.53%
McGraw-Hill Companies Inc.	3,000		179,100

3

MONY SERIES FUND, INC.

Equity Income Portfolio — (Continued)

Portfolio of Investments (Unaudited)

June 30, 2002

	Number of Shares or Principal Amount	Value
Property-Casualty Insurance — 1.99%
Allstate Corporation	2,500	$	92,450
Chubb Corporation	2,000		141,600
			234,050
Raw Materials — 1.63%
Weyerhaeuser Company	3,000		191,550
Real Estate — 0.98%
Equity Residential Properties Trust	4,000		115,000
Retail — 1.95%
J. C. Penney Company, Inc.	3,000		66,060
Sears Roebuck & Company	3,000		162,900
			228,960
Telecommunications — 3.48%
BellSouth Corporation	4,000		126,000
SBC Communications Inc.	4,000		122,000
Verizon Communications Inc.	4,000		160,600
			408,600
Transportation — 3.71%
Canadian National Railway Company	3,000		155,400
CSX Corporation	3,500		122,675
Union Pacific Corporation	2,500		158,200
			436,275
Total Domestic Common Stocks
(Identified cost $10,168,353)			10,761,372

	Number of Shares or Principal Amount	Value
Foreign Stocks — 0.86%
Crude & Petroleum — 0.86%
BP Amoco (ADR)	2,000	$	100,980
Total Foreign Stocks
(Identified cost $103,550)			100,980
Total Investments
(Identified cost $10,271,903)		$	10,862,352
Other Assets Less Liabilities — 7.51%			881,442
Net Assets — 100%		$	11,743,794

(ADR)  American Depository Receipt.

See notes to financial statements.

4

MONY SERIES FUND, INC.

Intermediate Term Bond Portfolio

Portfolio of Investments (Unaudited)

June 30, 2002

Financial Institutions — 12.12%	Number of Shares or Principal Amount		Value
BankBoston Corporation 6.625% due 02/01/04	$	1,000,000	$	1,042,449
Bear Stearns Company Inc. 7.25% due 10/15/06		1,000,000		1,078,543
Chase Manhattan Capital Corporation 2.538% due 08/01/02		1,000,000		908,821
Citigroup Inc. 6.00% due 02/21/12		1,000,000		1,005,869
Countrywide Funding Corporation 5.50% due 02/01/07		1,000,000		1,017,832
Ford Motor Credit Company 6.875% due 02/01/06		1,000,000		1,023,870
General Motors Acceptance Corporation 7.125% due 05/01/03		1,000,000		1,029,514
General Motors Acceptance Corporation 5.25% due 05/16/05		1,000,000		1,007,630
Household Finance Corporation 5.75% due 01/30/07		1,000,000		990,121
Provident Bank 6.375% due 01/15/04		1,000,000		1,034,244
Total Financial Institutions
(Identified cost $9,975,343)				10,138,893
Industrial — 19.76%
Abbott Labs 5.625% due 07/01/06		1,000,000		1,037,196
AOL Time Warner Inc. 5.625% due 05/01/05		1,000,000		981,843
Conoco Inc. 5.90% due 04/15/04		1,000,000		1,041,922
CSX Corporation 7.25% due 05/01/04		1,000,000		1,063,264
Delphi Automotive Systems Corporation 6.125% due 05/01/04		1,000,000		1,036,192
First Data Corporation 6.75% due 07/15/05		1,000,000		1,079,373
Illinois Central Railroad Company 6.75% due 05/15/03		1,000,000		1,035,929
Kraft Foods Inc. 4.62.5% due 11/01/06		1,000,000		997,227
Philip Morris Companies Inc. 7.50% due 04/01/04		1,000,000		1,066,325
Phillips Petroleum Company 8.75% due 05/25/10		1,000,000		1,189,171
Potash Corporation Saskatchewan Inc. 7.125% due 06/15/07		1,000,000		1,080,089
Reed Elsevier Capital Inc. 6.125% due 08/01/06		1,000,000		1,045,125
Target Corporation 5.375% due 06/15/09		1,000,000		1,000,937
Tyco International Group 6.375% due 06/15/05		1,000,000		819,980
USA Waste Services Inc. 7.00% due 10/01/04		1,000,000		1,037,744
Weyerhaeuser Company 5.50% due 03/15/05		1,000,000		1,027,397
Total Industrial
(Identified cost $15,974,714)				16,539,714

Utilities — 4.90%	Number of Shares or Principal Amount		Value
Arizona Public Service Company 5.875% due 02/15/04	$	1,000,000	$	1,032,503
Cingular Wireless Llc 5.625% due 12/15/06		1,000,000		961,586
Commonwealth Edison Company 7.00% due 07/01/05		1,000,000		1,078,851
National Rural Utilities Cooperative Finance 6.00% due 05/15/06		1,000,000		1,028,278
Total Utilities
(Identified cost $3,986,866)				4,101,218
Yankee Bonds — 5.00%
European Investment Bank 4.00% due 08/30/05		1,000,000		1,017,450
International Bank for Reconstruction & Development 5.625% due 03/17/03		1,000,000		1,025,008
Italy Republic 5.625% due 06/15/12		1,000,000		1,022,133
Province of British Columbia
7.25% due 09/01/36		1,000,000		1,121,804
Total Yankee Bonds
(Identified cost $3,990,117)				4,186,395
Asset-Backed Securities — 4.98%
Chemical Master Credit Card Trust
5.98% due 09/15/08		1,000,000		1,060,762
Comed Transitional Funding Trust
5.74% due 12/25/10		1,000,000		1,042,558
Peco Energy Transition Trust
6.13% due 03/01/09		1,000,000		1,060,405
Student Loan Marketing Association
2.352% due 10/25/10		1,000,000		1,001,901
Total Asset-Backed Securities
(Identified cost $3,998,498)				4,165,626
Mortgage-Backed Securities — 2.48%
Freddie Mac
6.50% due 02/15/21		2,000,000		2,074,288
Total Mortgage-Backed Securites
(Identified cost $1,976,146)				2,074,288
U. S. Government Agency Obligations — 21.47%
Fannie Mae — 8.53%
3.50% due 09/15/04		2,000,000		2,014,314
5.50% due 02/15/06		1,000,000		1,050,747
5.25% due 08/14/06		1,000,000		1,028,545
4.45% due 11/08/06		1,000,000		1,007,136
4.00% due 11/17/06		1,000,000		988,811
6.00% due 05/15/11		1,000,000		1,049,829
				7,139,382

5

MONY SERIES FUND, INC.

Intermediate Term Bond Portfolio — (Continued)

Portfolio of Investments (Unaudited)

June 30, 2002

	Number of Shares or Principal Amount	Value
Federal Home Loan Banks — 4.89%
4.625% due 08/13/04	$2,000,000	$  2,059,520
3.75% due 04/15/04	1,000,000	1,011,425
4.125% due 01/14/05	1,000,000	1,017,112
		4,088,057
Freddie Mac — 8.05%
7.00% due 02/15/03	1,000,000	1,030,631
4.50% due 08/15/04	1,000,000	1,029,451
5.25% due 01/15/06	1,000,000	1,043,483
5.50% due 07/15/06	1,500,000	1,574,753
6.00% due 06/15/11	1,000,000	1,048,675
5.50% due 09/15/11	1,000,000	1,012,148
		6,739,141
Total U.S. Government Agency Obligations
(Identified cost $17,612,861)		17,966,580
U. S. Treasury Obligations — 26.22%
U. S. Treasury Bonds — 0.81%
8.75% due 08/15/20	500,000	679,108
U. S. Treasury Notes — 25.41%
5.75% due 04/30/03	500,000	516,074
5.75% due 08/15/03	2,000,000	2,080,314
7.50% due 02/15/05	1,000,000	1,107,344
6.875% due 05/15/06	1,500,000	1,665,765
6.50% due 10/15/06	6,500,000	7,157,657
4.375% due 05/15/07	1,000,000	1,014,063
6.50% due 02/15/10	6,000,000	6,709,158
5.00% due 02/15/11	1,000,000	1,017,239
		21,267,614
Total U. S. Treasury Obligations
(Identified cost $20,968,365)		21,946,722

	Number of Shares or Principal Amount	Value
Commercial Paper — 1.67%
Daimlerchrysler Holding Corporation
1.98% due 07/12/02	$900,000	$     899,456
John Deere Credit Inc.
2.04% due 07/09/02	500,000	499,773
Total Commercial Paper
(Identified cost $1,399,229)		1,399,229
Repurchase Agreement — 0.23%
State Street Bank & Trust Repurchase Agreement, 1.45% due 07/01/02 Maturity Value $191,023 Collateral: U.S. Treasury Bond $150,000, 8.125% due 08/15/19, Value $201,220	191,000	191,000
Total Repurchase Agreement
(Identified cost $191,000)		191,000
Total Investments
(Identified cost $80,073,139)		$82,709,665
Other Assets Less Liabilities — 1.17%		979,365
Net Assets — 100%		$83,689,030

See notes to financial statements.

6

MONY SERIES FUND, INC.

Long Term Bond Portfolio

Portfolio of Investments (Unaudited)

June 30, 2002

U. S. Treasury Obligations — 41.95%	Number of Shares or Principal Amount	Value
U. S. Treasury Bonds — 38.95%
8.125% due 08/15/19	$  5,500,000	$  7,046,650
7.875% due 02/15/21	11,500,000	14,481,156
P/O 6.00% due 11/15/21	14,000,000	4,437,342
6.75% due 08/15/26	5,000,000	5,692,970
6.625% due 02/15/27	15,000,000	16,846,860
3.625% due 04/15/28	1,000,000	1,080,313
6.25% due 05/15/30	3,000,000	3,250,665
		52,835,956
U. S. Treasury Notes — 3.00%
5.00% due 02/15/11	4,000,000	4,068,956
Total U. S. Treasury Obligations
(Identified cost $56,725,379)		56,904,912
Financial Institutions — 7.00%
Aetna Inc. 7.625% due 08/15/26	1,000,000	1,087,605
BB&T Corporation 6.50% due 08/01/11	1,000,000	1,047,915
Household Finance Corporation 6.375% due 10/15/11	1,000,000	958,259
Household Finance Corporation 7.625% due 05/17/32	1,000,000	988,423
Interamerican Development Bank 6.80% due 10/15/25	1,000,000	1,095,429
MBIA Inc. 7.15% due 07/15/27	1,000,000	1,015,780
Swiss Bank Corporation 7.75% due 09/01/26	2,000,000	2,265,922
Wachovia Corporation 6.15% due 03/15/09	1,000,000	1,033,794
Total Financial Institutions
(Identified cost $8,976,523)		9,493,127
Industrial — 21.87%
Alberta Energy Ltd. 8.125% due 09/15/30	1,000,000	1,167,952
Albertsons Inc. 8.00% due 05/01/31	1,000,000	1,110,305
Alcoa Inc. 6.00% due 01/15/12	1,000,000	1,028,098
Anheuser Busch Companies Inc. 6.00% due 11/01/41	1,000,000	936,545
Associates Corporation North America 6.95% due 11/01/18	1,000,000	1,036,688
Boeing Company 8.625% due 11/15/31	1,000,000	1,241,887
Burlington Northern Santa Fe Corporation 6.75% due 03/15/29	1,000,000	983,472
Columbia/HCA Healthcare Corporation 7.69% due 06/15/25	1,000,000	998,332
Conagra Inc. 8.25% due 09/15/30	1,000,000	1,174,331
Eastman Chemical Company 7.00% due 04/15/12	1,000,000	1,050,001

	Number of Shares or Principal Amount	Value
Exelon Corporation 6.75% due 05/01/11	$1,000,000	$  1,046,181
Federal Express Corporation Pass Through 7.50% due 01/15/18	1,811,821	1,962,565
Ford Motor Company 6.375% due 02/01/29	2,000,000	1,633,840
Fort James Corporation 7.75% due 11/15/23	1,000,000	846,946
Kraft Foods Inc. 6.25% due 06/01/12	1,000,000	1,028,750
Lockheed Martin Corporation 7.65% due 05/01/16	1,000,000	1,139,733
Phillips Petroleum Company 8.75% due 05/25/10	1,000,000	1,189,171
Progress Energy Inc. 7.10% due 03/01/11	1,000,000	1,058,471
Target Corporation 5.875% due 03/01/12	2,000,000	2,022,614
Tenet Healthcare Corporation 6.875% due 11/15/31	1,000,000	984,395
Texaco Capital Inc. 9.75% due 03/15/20	1,000,000	1,349,662
Tyco International Group 7.00% due 06/15/28	2,000,000	1,422,580
United Parcel Service America Inc. 8.375% due 04/01/20	1,000,000	1,207,637
USA Waste Services Inc. 7.00% due 10/01/04	1,000,000	1,037,744
Valero Energy Corporation 7.50% due 04/15/32	1,000,000	1,006,382
Total Industrial
(Identified cost $29,212,281)		29,664,282
Utilities — 7.43%
AOL Time Warner Inc. 7.70% due 05/01/32	1,000,000	889,484
Arizona Public Service Company 6.375% due 10/15/11	1,000,000	1,020,222
Bellsouth Capital Funding Corporation 7.875% due 02/15/30	1,000,000	1,123,519
Cingular Wireless Llc 7.125% due 12/15/31	1,000,000	866,900
General Electric Capital Corporation 6.875% due 11/15/10	1,000,000	1,073,044
GTE North Inc. 7.625% due 05/15/26	1,000,000	990,908
National Rural Utilities Cooperative Finance 5.70% due 01/15/10	2,000,000	1,954,158
Southern Natural Gas Company 7.35% due 02/15/31	1,000,000	914,762
Viacom Inc. 7.875% due 07/30/30	1,000,000	1,089,137
Worldcom Inc. 6.95% due 08/15/28 (n)	1,000,000	155,000
Total Utilities
(Identified cost $11,071,829)		10,077,134

7

MONY SERIES FUND, INC.

Long Term Bond Portfolio — (Continued)

Portfolio of Investments (Unaudited)

June 30, 2002

	Number of Shares or Principal Amount		Value
Yankee Bonds — 3.18%
Hydro Quebec 8.50% due 12/01/29	$	1,000,000	$	1,261,952
Italy Republic 5.625% due 06/15/12		1,000,000		1,022,133
Legrand 8.50% due 02/15/25		1,000,000		908,320
Province of British Columbia 7.25% due 09/01/36		1,000,000		1,121,804
Total Yankee Bonds
(Identified cost $4,037,706)				4,314,209
Asset-Backed Securities — 0.82%
MBNA Master Credit Card Trust II 7.00% due 02/15/12		1,000,000		1,110,798
Total Asset-Backed Securities
(Identified cost $1,061,149)				1,110,798
U. S. Government Agency Obligations — 7.45%
Fannie Mae — 3.50%
6.25% due 02/01/11		2,000,000		2,105,814
6.625% due 11/15/30		2,500,000		2,648,167
				4,753,981
Federal Agencies — 0.77%
Tennessee Valley Authority 6.00% due 03/15/13		1,000,000		1,041,172
Freddie Mac — 3.18%
6.875% due 09/15/10		2,000,000		2,225,848
6.375% due 08/01/11		2,000,000		2,086,894
				4,312,742
Total U. S. Government Agency Obligations
(Identified cost $9,717,897)				10,107,895

	Number of Shares or Principal Amount		Value
Commercial Paper — 8.62%
Daimlerchrysler Holding Corporation 1.98% due 07/12/02	$	500,000	$	499,698
Daimlerchrysler Holding Corporation 1.95% due 07/29/02		1,200,000		1,198,180
Delphi Auto Systems 2.00% due 07/02/02		4,500,000		4,499,750
General Motors Acceptance Corporation 2.05% due 07/31/02		1,000,000		998,292
Sears Roebuck Acceptance Corporation 2.01% due 07/31/02		4,500,000		4,492,462
Total Commercial Paper
(Identified cost $11,688,382)				11,688,382
Repurchase Agreement — 0.30%
State Street Bank & Trust Repurchase Agreement, 1.45% due 07/01/02 Maturity Value $402,049 Collateral: U.S. Treasury Bond $315,000, 8.125% due 08/15/19, Value $422,563		402,000		402,000
Total Repurchase Agreement
(Identified cost $402,000)				402,000
Total Investments
(Identified cost $132,893,146)			$	133,762,739
Other Assets Less Liabilities — 1.38%				1,877,591
Net Assets — 100%			$	135,640,330

P/O  Principal-only stripped security. The rate shown is the current effective yield.

(n)  Declared bankruptcy since June 30, 2002. Portfolio has since ceased accrual of interest.

See notes to financial statements.

8

MONY SERIES FUND, INC.

Diversified Portfolio

Portfolio of Investments (Unaudited)

June 30, 2002

Domestic Common Stocks — 55.86%	Number of Shares or Principal Amount	Value
Aerospace — 1.85%
Northrop Grumman Corporation	100	$	12,500
Raytheon Company	400		16,300
			28,800
Automotive — 1.67%
Cummins Inc.	300		9,930
General Motors Corporation	300		16,035
			25,965
Banking — 0.87%
J. P. Morgan Chase & Company	400		13,568
Biotechnology — 0.81%
Amgen Inc. (a)	300		12,564
Business Services — 0.56%
Automatic Data Processing Inc.	200		8,710
Cable — 0.61%
Comcast Corporation (Class A) (a)	400		9,536
Chemicals — 2.31%
Dow Chemical Company	400		13,752
Du Pont (E. I.) de Nemours & Company	500		22,200
			35,952
Computer Hardware — 2.23%
Cisco Systems Inc. (a)	700		9,765
Dell Computer Corporation (a)	300		7,842
EMC Corporation (a)	500		3,775
Hewlett-Packard Company	400		6,112
International Business Machines Corporation	100		7,200
			34,694
Computer Services — 0.19%
Sun Microsystems Inc. (a)	600		3,006
Computer Software — 2.24%
Microsoft Corporation (a)	500		27,350
Oracle Corporation (a)	800		7,576
			34,926
Crude & Petroleum — 2.14%
Chevron Texaco Corporation	100		8,850
Exxon Mobil Corporation	600		24,552
			33,402
Electrical Equipment — 2.46%
Emerson Electric Company	500		26,755
General Electric Company	400		11,620
			38,375
Energy — 0.11%
Williams Companies Inc.	300		1,797
Food, Beverages & Tobacco — 1.96%
Coca-Cola Company	200		11,200
PepsiCo Inc.	400		19,280
			30,480
Machinery — 2.49%
Caterpillar Inc.	400		19,580
Deere & Company	400		19,160
			38,740

	Number of Shares or Principal Amount	Value
Manufacturing — 1.17%
Ingersoll-Rand Company Ltd.	400	$	18,264
Medical Instruments — 0.07%
Zimmer Holdings Inc. (a)	30		1,070
Metals & Mining — 0.90%
Alcoa Inc.	300		9,945
El Paso Corporation	200		4,122
			14,067
Misc. Financial Services — 3.46%
Citigroup Inc.	300		11,625
Fannie Mae	200		14,750
Goldman Sachs Group Inc.	200		14,670
Morgan Stanley Dean Witter & Company	300		12,924
			53,969
Multi-Line Insurance — 1.31%
American International Group Inc.	300		20,469
Oil Services — 5.06%
Baker Hughes Inc.	200		6,658
BJ Services Company (a)	200		6,776
Diamond Offshore Drilling Inc.	200		5,700
Ensco International Inc.	300		8,178
GlobalSantaFe Corporation	300		8,205
Kerr-McGee Corporation	200		10,710
Nabors Industries Ltd. (a)	100		3,530
Phillips Petroleum Company	100		5,888
Schlumberger Ltd.	100		4,650
Tidewater Inc.	300		9,876
Weatherford Bermuda (a)	200		8,640
			78,811
Paper & Forest Products — 3.64%
Georgia-Pacific Group	600		14,748
International Paper Company	500		21,790
MeadWestvaco Corporation	600		20,136
			56,674
Pharmaceuticals — 7.50%
Baxter International Inc.	300		13,335
Bristol-Myers Squibb Company	300		7,710
Eli Lilly & Company	100		5,640
Gilead Sciences Inc. (a)	600		19,728
Johnson & Johnson	400		20,904
MedImmune Inc. (a)	300		7,920
Merck & Company Inc.	200		10,128
Pfizer Inc.	500		17,500
Pharmacia Corporation	100		3,745
Wyeth	200		10,240
			116,850
Raw Materials — 1.23%
Weyerhaeuser Company	300		19,155
Retail — 3.45%
Home Depot Inc.	300		11,019
Target Corporation	400		15,240
Wal-Mart Stores Inc.	500		27,505
			53,764

9

MONY SERIES FUND, INC.

Diversified Portfolio — (Continued)

Portfolio of Investments (Unaudited)

June 30, 2002

	Number of Shares or Principal Amount	Value
Semiconductors — 2.95%
Analog Devices Inc. (a)	300	$	8,910
Applied Materials Inc. (a)	600		11,412
Intel Corporation	700		12,789
Novellus Systems Inc. (a)	100		3,400
Texas Instruments Inc.	400		9,480
			45,991
Telecommunications — 2.62%
BellSouth Corporation	400		12,600
SBC Communications Inc.	400		12,200
Verizon Communications Inc.	400		16,060
			40,860
Total Domestic Common Stocks
(Identified cost $983,800)			870,459

	Number of Shares or Principal Amount	Value
Foreign Stocks — 0.65%
Crude & Petroleum — 0.65%
BP Amoco (ADR)	200	$	10,098
Total Foreign Stocks
(Identified cost $10,614)			10,098
Total Investments		$	880,557
(Identified cost $994,414)
Other Assets Less Liabilities — 43.49%			677,621
Net Assets — 100%		$	1,558,178

(a)  Non-income producing security.

(ADR)  American Depository Receipt.

See notes to financial statements.

10

MONY SERIES FUND, INC.

Government Securities Portfolio

Portfolio of Investments (Unaudited)

June 30, 2002

U.S. Government Agency Obligations — 77.51%	Number of Shares or Principal Amount	Value
Fannie Mae — 15.11%
5.75% due 04/15/03	$2,000,000	$    2,056,698
5.00% due 01/20/07	1,000,000	1,023,412
6.25% due 07/19/11	1,000,000	1,032,088
6.00% due 01/18/12	2,000,000	2,020,962
Discount Note 1.82% due 07/03/02	790,000	789,920
1.70% due 07/02/02	3,600,000	3,599,830
1.72% due 07/17/02	1,500,000	1,498,853
1.84% due 07/31/02	3,300,000	3,294,940
REMIC 6.50% due 10/25/03	615,044	636,698
		15,953,401
Federal Agencies — 22.45%
Attransco Inc. Guaranteed 6.12% due 04/01/08	1,293,294	1,350,225
Federal Farm Credit Banks Consolidated Systems, 4.375% due 04/15/05	5,000,000	5,119,895
Overseas Private Investor Corporation (v), 5.14% due 08/15/07	2,044,742	2,054,799
Overseas Private Investor Corporation, 7.05% due 11/15/13	2,464,286	2,648,553
Private Export Funding Corporation, 7.01% due 04/30/04	2,000,000	2,138,558
Private Export Funding Corporation, 5.25% due 05/15/05	2,500,000	2,611,280
Private Export Funding Corporation, 7.65% due 05/15/06	1,000,000	1,126,915
Small Business Administration Participation Certificate, 5.886% due 09/10/11	1,000,000	1,005,985
Tennessee Valley Authority 6.375% due 06/15/05	500,000	537,680
Tennessee Valley Authority 5.375% due 11/13/08	2,000,000	2,058,962
Tennessee Valley Authority 6.00% due 03/15/13	1,000,000	1,041,172
U.S. Department of Housing & Urban Development, 6.23% due 08/01/02	2,000,000	2,007,114
		23,701,138
Federal Home Loan Banks — 1.93%
5.50% due 01/21/03	2,000,000	2,038,714

	Number of Shares or Principal Amount	Value
Freddie Mac — 32.37%
5.625% due 03/20/06	$  3,000,000	$    3,073,068
6.625% due 09/15/09	1,000,000	1,098,445
6.875% due 09/15/10	1,000,000	1,112,924
6.375% due 08/01/11	1,000,000	1,043,447
6.50% due 11/15/21	1,500,000	1,555,481
6.50% due 03/15/26	1,000,000	1,035,875
Discount Note 1.71% due 07/02/02	9,547,000	9,546,547
1.71% due 07/16/02	14,276,000	14,265,828
1.88% due 08/15/02	533,000	531,747
1.74% due 08/20/02	900,000	897,825
		34,161,187
Ginnie Mae — 5.65%
7.50% due 05/15/24	160,018	170,152
7.50% due 10/15/24	65,858	70,029
7.00% due 09/20/28	803,246	833,542
6.00% due 12/15/31	4,886,353	4,892,142
		5,965,865
Total U. S. Government Agency Obligations
(Identified cost $80,312,200)		81,820,305
U. S. Treasury Obligations — 21.47%
U. S. Treasury Bonds — 1.01%
6.125% due 08/15/29	1,000,000	1,062,372
U. S. Treasury Notes — 20.46%
5.50% due 01/31/03	3,000,000	3,064,812
6.50% due 10/15/06	11,000,000	12,112,958
5.75% due 08/15/10	6,000,000	6,420,006
		21,597,776
Total U. S. Treasury Obligations
(Identified cost $22,135,146)		22,660,148
Repurchase Agreement — 0.49%
State Street Bank & Trust Repurchase Agreement, 1.45% due 07/01/02 Maturity Value $518,063 Collateral: U.S. Treasury Bond $405,000, 8.125% due 08/15/19, Value $543,295	518,000	518,000
Total Repurchase Agreement
(Identified cost $518,000)		518,000
Total Investments
(Identified cost $102,965,346)		$104,998,453
Other Assets Less Liabilities — 0.53%		562,540
Net Assets — 100%		$105,560,993

(v)  Variable interest rate security; interest rate is as of June 30, 2002.

11

See notes to financial statements.

MONY SERIES FUND, INC.

Money Market Portfolio

Portfolio of Investments (Unaudited)

June 30, 2002

Commercial Paper — 61.05%	Number of Shares or Principal Amount		Value
Bank of Ireland
1.86% due 12/17/02	$	14,000,000	$	13,877,757
Bankamerica Corporation
1.83% due 08/16/02		2,477,000		2,471,208
Barclays US Funding
1.81% due 08/13/02		11,683,000		11,657,742
Baxter International Inc.
1.80% due 07/17/02		2,394,000		2,392,085
Daimlerchrysler Holding Corporation,
1.95% due 07/29/02		3,000,000		2,995,450
Delphi Auto Systems
2.00% due 07/02/02		3,000,000		2,999,833
Dow Chemical Company
1.92% due 07/15/02		6,300,000		6,295,296
Duke Capital Corporation
1.87% due 07/22/02		9,000,000		8,990,183
Executive Jet Inc.
1.77% due 07/08/02		13,320,000		13,315,416
FPL Group Capital Inc.
2.00% due 07/12/02		2,402,000		2,400,532
General Motors Acceptance Corporation,
1.97% due 07/17/02		1,359,000		1,357,810
Golden Funding Corporation
1.86% due 09/13/02		2,530,000		2,520,327
Household International Inc.
1.85% due 08/05/02		8,449,000		8,433,804
Houston Industrial Finance L.P.
2.65% due 07/02/02		2,750,000		2,749,798
Lockhart Funding LLC
1.96% due 08/29/02		14,000,000		13,955,029
National Rural Utilities Cooperative Finance,
1.79% due 07/17/02		7,450,000		7,444,073
Omnicom Finance
2.15% due 07/01/02		5,259,000		5,259,000
Progress Energy
2.15% due 07/16/02		2,500,000		2,497,760
SBC International Inc.
1.78% due 07/10/02		2,759,000		2,757,772
SBC International Inc.
1.79% due 08/30/02		6,064,000		6,045,909
Sears Roebuck Acceptance Corporation,
2.01% due 07/31/02		2,750,000		2,745,394
Starfish Global Funding
1.78% due 07/11/02		9,322,000		9,317,391
Starfish Global Funding
1.80% due 07/23/02		2,584,000		2,581,157
Stellar Funding Group
1.80% due 08/21/02		4,087,000		4,076,578
Thunder Bay Funding Inc.
1.80% due 07/15/02		10,843,000		10,835,410
Trident Capital Finance
1.80% due 07/09/02		11,059,000		11,054,576
United Healthcare Corporation
1.83% due 09/20/02		10,000,000		9,958,825

	Number of Shares or Principal Amount		Value
Verizon Network Fund
1.80% due 07/09/02	$	10,000,000	$	9,996,000
Windmill Funding Corporation
1.77% due 07/16/02		14,000,000		13,989,675
Total Commercial Paper
(Identified cost $194,971,790)				194,971,790
Variable Rate Securities — 17.06%
American Express Credit Corporation,
1.84% due 07/26/02 (v)		5,000,000		5,000,000
Capital One Funding Corporation
1.94% due 04/01/11 (v)		2,653,000		2,653,000
Capital One Funding Corporation
1.94% due 03/01/17 (v)		886,000		886,000
Goldman Sachs Group
2.16% due 07/15/02 (v)		5,000,000		5,000,000
International Lease Finance Corporation,
2.115% due 02/11/03 (v)		10,000,000		10,000,000
Lehman Brothers Holdings Inc.
2.78% due 07/15/02 (v)		14,000,000		14,004,360
National Rural Utilities Cooperative,
2.023% due 12/02/02 (v)		3,450,000		3,447,402
Syndicated Loan Funding Trust
2.00% due 12/09/02 (v) (144A)		6,000,000		6,000,100
Wyeth
1.889% due 07/22/02 (v)		7,500,000		7,500,000
Total Variable Rate Securities
(Identified cost $54,490,862)				54,490,862
Short Term Corporate Notes — 16.15%
Central Fidelity Banks Inc.
8.15% due 11/15/02		4,000,000		4,077,926
Dow Capital
7.375% due 07/15/02		1,500,000		1,501,814
First National Bank Boston Massachusetts,
8.375% due 12/15/02		6,000,000		6,159,308
Goldman Sachs Group
3.15% due 05/02/03		7,600,000		7,600,000
Household Finance Corporation
6.125% due 07/15/02		3,100,000		3,103,417
Matsushita Electric Industrial Ltd,
7.25% due 08/01/02		14,190,000		14,249,472
Rockwell International Corporation,
6.75% due 09/15/02		4,525,000		4,561,717
SBC Communications Inc.
4.295% due 06/05/03		4,100,000		4,157,652
Summit Bancorp
8.625% due 12/10/02		6,000,000		6,159,938
Total Short Term Corporate Notes
(Identified cost $51,571,244)				51,571,244

12

MONY SERIES FUND, INC.

Money Market Portfolio — (Continued)

Portfolio of Investments (Unaudited)

June 30, 2002

	Number of Shares or Principal Amount	Value
Certificates of Deposit — 0.94%
United States Trust Company New York, NY,
2.75% due 06/03/03	$3,000,000	$	2,996,178
Total Certificates of Deposit
(Identified cost $2,996,178)			2,996,178
U. S. Government Obligations — 4.86%
Federal Home Loan Bank
2.00% due 02/14/03	7,000,000		7,000,000
Freddie Mac
2.25% due 02/14/03	8,500,000		8,500,000
Total U. S. Government Obligations
(Identified cost $15,500,000)			15,500,000
Total Investments
(Identified cost $319,530,074)		$	319,530,074
Other Assets Less Liabilities — (0.06)%			(175,646	)
Net Assets — 100%		$	319,354,428

(v)  Variable interest rate security; interest rate is as of June 30, 2002.

(144A)  The security may only be offered and sold only to “qualified institutional buyers” under Rule 144A of the Securities Act of 1933.

See notes to financial statements.

13

MONY SERIES FUND, INC.

STATEMENTS OF ASSETS AND LIABILITIES

June 30, 2002 (Unaudited)

	Equity Growth Portfolio			Equity Income Portfolio		Intermediate Term Bond Portfolio			Long Term Bond Portfolio			Diversified Portfolio			Government Securities Portfolio			Money Market Portfolio
ASSETS:
Investments at value	$	1,159,012		$	10,862,352	$	82,709,665		$	133,762,739		$	880,557		$	104,998,453		$	319,530,074
Cash		334,570			887,595		246			605			686,337			849			1,500
Receivable for fund shares sold		—			—		946			4,111			—			11,250			312,391
Dividends and interest receivable		775			12,983		1,200,490			2,270,833			630			978,624			1,123,884
Due from investment advisor		318			—		—			—			211			—			6,921
Other assets		—			97		1,375			2,301			—			1,813			11,408
Total assets		1,494,675			11,763,027		83,912,722			136,040,589			1,567,735			105,990,989			320,986,178
LIABILITIES:
Payable for fund shares redeemed		3,720			4,115		153,650			285,657			3,727			343,753			1,404,696
Investment advisory fees payable		625			4,915		34,173			56,023			659			42,520			103,040
Administration fees payable		37			295		2,050			3,361			40			2,551			7,728
Accrued expenses and other liabilities		5,243			9,908		33,819			55,218			5,131			41,172			116,286
Total liabilities		9,625			19,233		223,692			400,259			9,557			429,996			1,631,750
Net Assets	$	1,485,050		$	11,743,794	$	83,689,030		$	135,640,330		$	1,558,178		$	105,560,993		$	319,354,428
NET ASSETS:
Paid-in capital	$	1,681,586		$	10,920,581	$	80,494,924		$	133,721,154		$	1,695,676		$	101,985,267		$	319,354,428
Undistributed (accumulated) net investment income (loss)		1,125			85,603		1,857,081			3,401,245			10,480			1,755,847			—
Undistributed (accumulated) net realized gain (loss) on investments		(47,306	)		147,161		(1,299,501	)		(2,351,662	)		(34,121	)		(213,228	)		—
Unrealized appreciation (depreciation) on investments		(150,355	)		590,449		2,636,526			869,593			(113,857	)		2,033,107			—
Net Assets	$	1,485,050		$	11,743,794	$	83,689,030		$	135,640,330		$	1,558,178		$	105,560,993		$	319,354,428
Fund shares outstanding		105,563			834,558		7,496,846			10,362,126			176,910			9,274,904			319,354,428
Net asset value per share		$14.07			$14.07		$11.16			$13.09			$8.81			$11.38			$1.00
Investments at cost	$	1,309,367		$	10,271,903	$	80,073,139		$	132,893,146		$	994,414		$	102,965,346		$	319,530,074

See notes to financial statements.

14

MONY SERIES FUND, INC.

STATEMENTS OF OPERATIONS

June 30, 2002 (Unaudited)

	Equity Growth Portfolio			Equity Income Portfolio			Intermediate Term Bond Portfolio			Long Term Bond Portfolio			Diversified Portfolio			Government Securities Portfolio			Money Market Portfolio
INVESTMENT INCOME:
Interest	$	694		$	6,794		$	2,104,739	(1)	$	3,815,901	(1)	$	13,133	(1)	$	2,061,946		$	3,108,833
Dividends		9,716	(1)		125,469	(1)		—			—			7,364			—			—
Total investment income		10,410			132,263			2,104,739			3,815,901			20,497			2,061,946			3,108,833
EXPENSES:
Investment advisory fees		4,037			31,521			196,334			332,070			4,353			237,075			614,618
Transfer agent fees		30			225			1,219			2,199			32			1,397			5,245
Custodian and fund accounting fees		6,569			8,596			12,121			20,244			6,343			14,894			35,752
Reports and notices to shareholders		266			2,051			11,105			19,589			284			16,592			46,047
Administration fees		242			1,891			11,780			19,924			261			14,224			46,096
Directors’ fees and expenses		76			581			3,499			9,921			81			4,231			13,659
Audit and legal fees		75			651			5,452			6,130			81			9,198			17,321
Miscellaneous		151			834			6,141			4,556			163			3,792			16,786
Total expenses		11,446			46,350			247,651			414,633			11,598			301,403			795,524
Less: Expense reimbursement		(2,161	)		—			—			—			(1,584	)		—			(27,252	)
Total expenses, net of reimbursement		9,285			46,350			247,651			414,633			10,014			301,403			768,272
Net investment income (loss)		1,125			85,913			1,857,088			3,401,268			10,483			1,760,543			2,340,561
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS — NET:
Net realized gain (loss) on investments		(35,653	)		189,741			(154	)		(172,173	)		(24,551	)		(156	)		—
Net change in unrealized gain (loss) on investments		(171,419	)		(740,420	)		667,698			424,533			(141,683	)		771,422			—
Net realized and unrealized gain (loss) on investments		(207,072	)		(550,679	)		667,544			252,360			(166,234	)		771,266			—
Net increase (decrease) in net assets resulting from operations	$	(205,947	)	$	(464,766	)	$	2,524,632		$	3,653,628		$	(155,751	)	$	2,531,809		$	2,340,561

See notes to financial statements

(1) Net of foreign taxes withheld of $33 for Equity Growth, $249 for Equity Income, $4,028 for Intermediate Term Bond, $4,028 for Long Term Bond and $29 for Diversified.

15

MONY SERIES FUND, INC.

STATEMENTS OF CHANGES IN NET ASSETS

June 30, 2002 (Unaudited)

	Equity Growth Portfolio						Equity Income Portfolio						Intermediate Term Bond Portfolio
	(Unaudited)						(Unaudited)						(Unaudited)
	Six Months Ended June 30, 2002			Year Ended December 31, 2001			Six Months Ended June 30, 2002			Year Ended December 31, 2001			Six Months Ended June 30, 2002			Year Ended December 31, 2001
From Operations:
Net investment income (loss)	$	1,125		$	9,491		$	85,913		$	224,564		$	1,857,088		$	3,153,766
Net realized gain (loss) on investments		(35,653	)		(10,110	)		189,741			1,126,632			(154	)		(896,348	)
Net change in unrealized gain (loss) on investments		(171,419	)		(447,461	)		(740,420	)		(3,116,583	)		667,698			2,556,809
Increase (decrease) in net assets resulting from operations		(205,947	)		(448,080	)		(464,766	)		(1,765,387	)		2,524,632			4,814,227
Distributions to Shareholders From:
Net investment income		(9,491	)		—			(222,570	)		(258,088	)		(3,153,768	)		(3,046,236	)
Net realized gains on investments		—			(890,881	)		(1,175,074	)		(1,501,749	)		—			—
Total distributions to shareholders		(9,491	)		(890,881	)		(1,397,644	)		(1,759,837	)		(3,153,768	)		(3,046,236	)
From Capital Share Transactions:
Shares sold		54,125			60,739			91,952			323,925			19,061,087			37,791,456
Reinvestment of distributions		9,491			890,881			1,397,644			1,759,837			3,153,768			3,046,236
Shares redeemed		(54,464	)		(520,526	)		(854,537	)		(2,580,001	)		(11,265,107	)		(22,048,799	)
Total increase (decrease) in net assets resulting from capital share transactions		9,152			431,094			635,059			(496,239	)		10,949,748			18,788,893
Total increase (decrease) in net assets		(206,286	)		(907,867	)		(1,227,351	)		(4,021,463	)		10,320,612			20,556,884
Net Assets:
Beginning of period		1,691,336			2,599,203			12,971,145			16,992,608			73,368,418			52,811,534
End of period	$	1,485,050		$	1,691,336		$	11,743,794		$	12,971,145		$	83,689,030		$	73,368,418
Capital Share Activity:
Shares sold		3,428			3,189			5,771			18,194			1,711,831			3,412,352
Shares issued in reinvestment of distributions		589			49,549			90,815			102,555			292,829			284,429
Shares redeemed		(3,487	)		(21,717	)		(55,072	)		(145,352	)		(1,017,742	)		(2,001,969	)
Net increase (decrease)		530			31,021			41,514			(24,603	)		986,918			1,694,812

See notes to financial statements.

16

Long Term Bond Portfolio						Diversified Portfolio						Government Securities Portfolio						Money Market Portfolio
(Unaudited)						(Unaudited)						(Unaudited)						(Unaudited)
Six Months Ended June 30, 2002			Year Ended December 31, 2001			Six Months Ended June 30, 2002			Year Ended December 31, 2001			Six Months Ended June 30, 2002			Year Ended December 31, 2001			Six Months Ended June 30, 2002			Year Ended December 31, 2001
$	3,401,268		$	6,330,769		$	10,483		$	33,967		$	1,760,543		$	3,002,434		$	2,340,561		$	10,873,044
	(172,173	)		414,033			(24,551	)		193,348			(156	)		25,885			—			—
	424,533			279,730			(141,683	)		(620,230	)		771,422			975,616			—			—
	3,653,628			7,024,532			(155,751	)		(392,915	)		2,531,809			4,003,935			2,340,561			10,873,044
	(6,330,781	)		(5,900,053	)		(33,968	)		(23,342	)		(3,007,128	)		(2,758,482	)		(2,340,561	)		(10,873,044	)
	—			—			(202,918	)		(542,544	)		—			—			—			—
	(6,330,781	)		(5,900,053	)		(236,886	)		(565,886	)		(3,007,128	)		(2,758,482	)		(2,340,561	)		(10,873,044	)
	15,435,631			48,967,217			50,770			87,658			28,603,924			50,276,581			142,722,020			356,489,138
	6,330,781			5,900,053			236,886			565,886			3,007,128			2,758,482			2,340,561			10,873,044
	(15,165,702	)		(27,007,501	)		(162,569	)		(740,187	)		(11,926,115	)		(21,338,477	)		(140,644,804	)		(320,724,576	)
	6,600,710			27,859,769			125,087			(86,643	)		19,684,937			31,696,586			4,417,777			46,637,606
	3,923,557			28,984,248			(267,550	)		(1,045,444	)		19,209,618			32,942,039			4,417,777			46,637,606
	131,716,773			102,732,525			1,825,728			2,871,172			86,351,375			53,409,336			314,936,651			268,299,045
$	135,640,330		$	131,716,773		$	1,558,178		$	1,825,728		$	105,560,993		$	86,351,375		$	319,354,428		$	314,936,651
	1,172,628			3,699,716			4,829			7,005			2,524,192			4,441,157			142,722,020			356,489,138
	505,653			452,111			24,346			47,474			271,892			250,771			2,340,561			10,873,044
	(1,162,751	)		(2,044,179	)		(16,905	)		(50,098	)		(1,054,780	)		(1,890,081	)		(140,644,804	)		(320,724,576	)
	515,530			2,107,648			12,270			4,381			1,741,304			2,801,847			4,417,777			46,637,606

See notes to financial statements.

17

MONY SERIES FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each period is as follows:

	Equity Growth Portfolio
				Years Ended December 31,
	(Unaudited) Six Months Ended June 30, 2002			2001			2000			1999			1998			1997
Net asset value, beginning of period	$	16.10		$	35.12		$	48.65		$	38.20		$	36.08		$	30.37
Income from investment operations:
Net investment income (loss)		0.01	(a)		0.09	(a)		(0.04	)(a)		(0.20	)(a)		1.50			0.11
Net realized and unrealized gain (loss) on investments		(1.95	)		(5.44	)		(3.03	)		14.05			6.88			8.42
Total from investment operations		(1.94	)		(5.35	)		(3.07	)		13.85			8.38			8.53
Less dividends and distributions:
Dividends from net investment income		(0.09	)		—			—			—			(1.62	)		(0.96	)
Distributions from net capital gains		—			(13.67	)		(10.46	)		(3.40	)		(4.64	)		(1.86	)
Total distributions		(0.09	)		(13.67	)		(10.46	)		(3.40	)		(6.26	)		(2.82	)
Net asset value, end of period	$	14.07		$	16.10		$	35.12		$	48.65		$	38.20		$	36.08
Total return		(12.12	)%(d)		(19.29	)%		(8.46	)%		37.98	%		25.46	%		30.68	%
Net assets, end of period (000)	$	1,485		$	1,691		$	2,599		$	3,362		$	3,109		$	2,799
Ratio of expenses (excluding expense reimbursements\reductions) to average net assets		1.42	%(c)		1.32	%		1.40	%		1.49	%		1.93	%		1.33	%
Ratio of expenses to average net assets		1.15	%(c)		1.15	%		1.37	%		1.46	%		1.82	%		1.23	%
Ratio of net investment income (loss) (excluding expense reimbursements\reductions) to average net assets		(0.13	)%(c)		0.31	%		(0.12	)%		(0.53	)%		(0.58	)%		0.24	%
Ratio of net investment income (loss) to average net assets		0.14	%(c)		0.48	%		(0.10	)%		(0.49	)%		(0.48	)%		0.34	%
Portfolio turnover		19	%		54	%		41	%		31	%		38	%		46	%

	Equity Income Portfolio
				Years Ended December 31,
	(Unaudited) Six Months Ended June 30, 2002			2001			2000			1999			1998			1997
Net asset value, beginning of period	$	16.36		$	20.78		$	23.42		$	25.95		$	27.10		$	23.44
Income from investment operations:
Net investment income (loss)		0.10	(a)		0.27	(a)		0.32	(a)		0.38	(a)		0.78			0.61
Net realized and unrealized gain (loss) on investments		(0.59	)		(2.44	)		0.68			1.90			2.62			5.96
Total from investment operations		(0.49	)		(2.17	)		1.00			2.28			3.40			6.57
Less dividends and distributions:
Dividends from net investment income		(0.29	)		(0.33	)		(0.39	)		(0.51	)		(0.88	)		(1.00	)
Distributions from net capital gains		(1.51	)		(1.92	)		(3.25	)		(4.30	)		(3.67	)		(1.91	)
Total distributions		(1.80	)		(2.25	)		(3.64	)		(4.81	)		(4.55	)		(2.91	)
Net asset value, end of period	$	14.07		$	16.36		$	20.78		$	23.42		$	25.95		$	27.10
Total return		(3.94	)%(d)		(10.97	)%		6.07	%		8.04	%		12.63	%		31.26	%
Net assets, end of period (000)	$	11,744		$	12,971		$	16,993		$	18,460		$	19,801		$	20,721
Ratio of expenses (excluding expense reimbursements\reductions) to average net assets		0.74	%(c)		0.71	%		0.73	%		0.70	%		0.76	%		0.59	%
Ratio of expenses to average net assets		0.74	%(c)		0.71	%		0.72	%		0.70	%		0.75	%		0.58	%
Ratio of net investment income (loss) (excluding expense reimbursements\reductions) to average net assets		1.36	%(c)		1.56	%		1.58	%		1.56	%		1.86	%		2.20	%
Ratio of net investment income (loss) to average net assets		1.36	%(c)		1.56	%		1.58	%		1.57	%		1.88	%		2.20	%
Portfolio turnover		20	%		36	%		31	%		27	%		28	%		29	%

See notes to financial statements.

18

MONY SERIES FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each period is as follows:

	Intermediate Term Bond Portfolio
				Years Ended December 31,
	(Unaudited) Six Months Ended June 30, 2002			2001			2000			1999			1998			1997
Net asset value, beginning of period	$	11.27		$	10.97		$	10.82		$	11.33		$	11.12		$	10.96
Income from investment operations:
Net investment income (loss)		0.26	(a)		0.56	(a)		0.62	(a)		0.61	(a)		0.51			0.63
Net realized and unrealized gain (loss) on investments		0.08			0.34			0.19			(0.59	)		0.28			0.16
Total from investment operations		0.34			0.90			0.81			0.02			0.79			0.79
Less dividends and distributions:
Dividends from net investment income		(0.45	)		(0.60	)		(0.66	)		(0.53	)		(0.58	)		(0.63	)
Distributions from net capital gains		—			—			—			—			—			—
Total distributions		(0.45	)		(0.60	)		(0.66	)		(0.53	)		(0.58	)		(0.63	)
Net asset value, end of period	$	11.16		$	11.27		$	10.97		$	10.82		$	11.33		$	11.12
Total return		3.15	%(d)		8.51	%		7.94	%		0.23	%		7.44	%		7.70	%
Net assets, end of period (000)	$	83,689		$	73,368		$	52,812		$	55,595		$	59,531		$	44,217
Ratio of expenses (excluding expense reimbursements\reductions) to average net assets		0.63	%(c)		0.62	%		0.61	%		0.57	%		0.62	%		0.51	%
Ratio of expenses to average net assets		0.63	%(c)		0.62	%		0.61	%		0.57	%		0.61	%		0.51	%
Ratio of net investment income (loss) (excluding expense reimbursements\reductions) to average net assets		4.73	%(c)		5.09	%		5.86	%		5.50	%		5.60	%		5.97	%
Ratio of net investment income (loss) to average net assets		4.73	%(c)		5.09	%		5.86	%		5.50	%		5.61	%		5.98	%
Portfolio turnover		2	%		19	%		30	%		40	%		18	%		79	%
	Long-Term Bond Portfolio
				Years Ended December 31,
	(Unaudited) Six Months Ended June 30, 2002			2001			2000			1999			1998			1997
Net asset value, beginning of period	$	13.38		$	13.27		$	12.32		$	14.17		$	13.64		$	12.84
Income from investment operations:
Net investment income (loss)		0.33	(a)		0.70	(a)		0.74	(a)		0.74	(a)		0.56			0.76
Net realized and unrealized gain (loss) on investments		0.01			0.12			1.08			(1.80	)		0.75			0.83
Total from investment operations		0.34			0.82			1.82			(1.06	)		1.31			1.59
Less dividends and distributions:
Dividends from net investment income		(0.63	)		(0.71	)		(0.87	)		(0.53	)		(0.72	)		(0.79	)
Distributions from net capital gains		—			—			—			(0.26	)		(0.06	)		—
Total distributions		(0.63	)		(0.71	)		(0.87	)		(0.79	)		(0.78	)		(0.79	)
Net asset value, end of period	$	13.09		$	13.38		$	13.27		$	12.32		$	14.17		$	13.64
Total return		2.76	%(d)		6.28	%		15.61	%		(7.60	)%		10.08	%		13.44	%
Net assets, end of period (000)	$	135,640		$	131,717		$	102,733		$	105,317		$	122,957		$	75,353
Ratio of expenses (excluding expense reimbursements\ reductions) to average net assets		0.62	%(c)		0.62	%		0.60	%		0.55	%		0.58	%		0.49	%
Ratio of expenses to average net assets		0.62	%(c)		0.62	%		0.59	%		0.55	%		0.57	%		0.49	%
Ratio of net investment income (loss) (excluding expense reimbursements\reductions) to average net assets		5.12	%(c)		5.25	%		6.02	%		5.68	%		5.50	%		6.33	%
Ratio of net investment income (loss) to average net assets		5.12	%(c)		5.25	%		6.02	%		5.68	%		5.50	%		6.33	%
Portfolio turnover		11	%		39	%		19	%		43	%		41	%		37	%

See notes to financial statements.

19

MONY SERIES FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each period is as follows:

	Diversified Portfolio
				Years Ended December 31,
	(Unaudited) Six Months Ended June 30, 2002			2001			2000			1999			1998			1997
Net asset value, beginning of period	$	11.09		$	17.92		$	22.93		$	19.91		$	20.61		$	17.99
Income from investment operations:
Net investment income (loss)		0.06	(a)		0.20	(a)		0.14	(a)		0.08	(a)		1.41			0.34
Net realized and unrealized gain (loss) on investments		(0.89	)		(2.66	)		(1.33	)		5.60			2.85			3.80
Total from investment operations		(0.83	)		(2.46	)		(1.19	)		5.68			4.26			4.14
Less dividends and distributions:
Dividends from net investment income		(0.21	)		(0.20	)		(0.09	)		(0.08	)		(1.65	)		(0.39	)
Distributions from net capital gains		(1.24	)		(4.17	)		(3.73	)		(2.58	)		(3.31	)		(1.13	)
Total distributions		(1.45	)		(4.37	)		(3.82	)		(2.66	)		(4.96	)		(1.52	)
Net asset value, end of period	$	8.81		$	11.09		$	17.92		$	22.93		$	19.91		$	20.61
Total return		(8.70	)%(d)		(15.40	)%		(6.55	)%		30.53	%		23.69	%		24.97	%
Net assets, end of period (000)	$	1,558		$	1,826		$	2,871		$	3,568		$	3,280		$	3,229
Ratio of expenses (excluding expense reimbursements\reductions) to average net assets		1.33	%(c)		1.26	%		1.27	%		1.50	%		1.83	%		1.10	%
Ratio of expenses to average net assets		1.15	%(c)		1.15	%		1.25	%		1.46	%		1.75	%		1.03	%
Ratio of net investment income (loss) (excluding expense reimbursements\reductions) to average net assets		1.02	%(c)		1.50	%		0.66	%		0.36	%		0.32	%		1.36	%
Ratio of net investment income (loss) to average net assets		1.20	%(c)		1.61	%		0.68	%		0.40	%		0.40	%		1.43	%
Portfolio turnover		13	%		47	%		27	%		27	%		34	%		33	%

	Government Securities Portfolio
				Years Ended December 31,
	(Unaudited) Six Months Ended June 30, 2002			2001			2000			1999			1998			1997
Net asset value, beginning of period	$	11.46		$	11.29		$	10.91		$	11.17		$	10.89		$	10.58
Income from investment operations:
Net investment income (loss)		0.21	(a)		0.51	(a)		0.58	(a)		0.56	(a)		0.33			0.45
Net realized and unrealized gain (loss) on investments		0.08			0.21			0.42			(0.49	)		0.39			0.28
Total from investment operations		0.29			0.72			1.00			0.07			0.72			0.73
Less dividends and distributions:
Dividends from net investment income		(0.37	)		(0.55	)		(0.62	)		(0.33	)		(0.44	)		(0.42	)
Distributions from net capital gains		—			—			0.00	(b)		0.00	(b)		—			—
Total distributions		(0.37	)		(0.55	)		(0.62	)		(0.33	)		(0.44	)		(0.42	)
Net asset value, end of period	$	11.38		$	11.46		$	11.29		$	10.91		$	11.17		$	10.89
Total return		2.60	%(d)		6.58	%		9.70	%		0.66	%		6.85	%		7.18	%
Net assets, end of period (000)	$	105,561		$	86,351		$	53,409		$	57,337		$	54,615		$	25,066
Ratio of expenses (excluding expense reimbursements\reductions) to average net assets		0.64	%(c)		0.62	%		0.61	%		0.58	%		0.64	%		0.56	%
Ratio of expenses to average net assets		0.64	%(c)		0.62	%		0.61	%		0.57	%		0.62	%		0.54	%
Ratio of net investment income (loss) (excluding expense reimbursements\ reductions) to average net assets		3.72	%(c)		4.49	%		5.41	%		5.08	%		5.09	%		5.50	%
Ratio of net investment income (loss) to average net assets		3.72	%(c)		4.49	%		5.41	%		5.09	%		5.10	%		5.52	%
Portfolio turnover		8	%		20	%		8	%		8	%		30	%		19	%

See notes to financial statements.

20

MONY SERIES FUND, INC.

FINANCIAL HIGHLIGHTS

For a share outstanding throughout each period is as follows:

	Money Market Portfolio
				Years Ended December 31,
	(Unaudited) Six Months Ended June 30, 2002			2001			2000			1999			1998			1997
Net asset value, beginning of period	$	1.00		$	1.00		$	1.00		$	1.00		$	1.00		$	1.00
Income from investment operations:
Net investment income (loss)	$	0.01		$	0.04			0.06			0.05			0.05			0.05
Total from investment operations		0.01			0.04			0.06			0.05			0.05			0.05
Dividends from net investment income		(0.01	)		(0.04	)		(0.06	)		(0.05	)		(0.05	)		(0.05	)
Total distributions		(0.01	)		(0.04	)		(0.06	)		(0.05	)		(0.05	)		(0.05	)
Net asset value, end of period	$	1.00		$	1.00		$	1.00		$	1.00		$	1.00		$	1.00
Total return		0.76	%(d)		3.80	%		6.11	%		4.98	%		5.25	%		5.27	%
Net assets, end of period (000)	$	319,354		$	314,937		$	268,299		$	336,532		$	349,421		$	158,286
Ratio of expenses (excluding expense reimbursements\reductions) to average net assets		0.52	%(c)		0.51	%		0.47	%		0.44	%		0.45	%		0.46	%
Ratio of expenses to average net assets		0.50	%(c)		0.50	%		0.47	%		0.44	%		0.45	%		0.45	%
Ratio of net investment income (loss) (excluding expense reimbursements\ reductions) to average net assets		1.51	%(c)		3.64	%		5.93	%		4.84	%		5.08	%		5.11	%
Ratio of net investment income (loss) to average net assets		1.52	%(c)		3.65	%		5.93	%		4.84	%		5.09	%		5.11	%

(a) Based on average shares outstanding.

(b) Less than $0.01 per share.

(c) Annualized.

(d) Not annualized.

See notes to financial statements.

21

MONY SERIES FUND, INC.

NOTES TO THE FINANCIAL STATEMENTS

June 30, 2002 (Unaudited)

1.  Organization and Business

The MONY Series Fund, Inc. (the “Fund”), a Maryland corporation organized on December 14, 1984, is composed of seven separate investment funds or portfolios as follows: Equity Growth, Equity Income, Intermediate Term Bond, Long Term Bond, Diversified, Government Securities, and Money Market. The Fund issues a separate class of capital stock for each portfolio. Each share of capital stock issued with respect to a portfolio will have a pro-rata interest in the assets of that portfolio and will have no interest in the assets of any other portfolio. Each portfolio bears its own expenses and also its proportionate share of the general expenses of the Fund. The Fund is registered under the Investment Company Act of 1940 as a diversified, open-end management investment company.

On June 20, 2002, the Board of Directors’ approved a tax-free exchange of shares of the Equity Growth and Diversified Portfolios into the Equity Income Portfolio. The effective date of this exchange has not been determined.

The Fund is currently offered only to separate accounts of certain insurance companies as an investment medium for both variable annuity contracts and variable life insurance policies. The following is a summary of significant accounting policies consistently followed by the Fund in preparation of its financial statements.

2.  Significant Accounting Policies

Valuation of Investments — Common stocks traded on national securities exchanges are valued at the last sales price as of the close of the New York Stock Exchange or at the last bid price for over-the-counter securities. Bonds are valued at the last available price provided by an independent pricing service for securities traded on a national securities exchange. Bonds that are listed on a national securities exchange but have no current day sales and bonds that are regularly traded in the over-the-counter market are valued at the mean of the last available bid and asked prices provided by an independent pricing service.

Short-term securities with 61 days or more to maturity at time of purchase are valued at market value through the 61st day prior to maturity, based on quotations obtained from market makers or other appropriate sources; thereafter, any unrealized appreciation or depreciation existing on the 61^st day is amortized to par on a straight-line basis over the remaining number of days to maturity. Short-term securities with 60 days or less to maturity at time of purchase and all securities held by the Money Market Portfolio are valued at amortized cost, which approximates market. The amortized cost of a security is determined by valuing it at original cost and thereafter amortizing any discount or premium on a straight-line basis until maturity. All other securities, including any restricted securities, are valued at their fair value as determined in good faith by the Board of Directors. As of  June 30, 2002, there were no such securities.

Repurchase Agreements — Each portfolio may acquire securities subject to repurchase agreements. Under a typical repurchase agreement, a portfolio would acquire a debt security for a relatively short period (usually for one day and not for more than one week) subject to an obligation of the seller to repurchase and of the portfolio to resell the debt security at an agreed-upon higher price, thereby establishing a fixed investment return during the portfolio’s holding period. Under each repurchase agreement, the portfolio receives, as collateral, securities whose market value (including interest) is at least equal to the repurchase price.

Federal Income Taxes — No provision for Federal income or excise taxes is required because the Fund intends to continue to qualify as a regulated investment company and distribute substantially all of its taxable income to shareholders.

Security Transactions and Investment Income — Security transactions are accounted for on the trade date. Realized gains and losses from security transactions are determined on the basis of identified cost for both financial and tax purposes. Dividend income received and distributions paid to shareholders are recognized on the ex-dividend date, and interest income is recognized on the accrual basis. Premiums and discounts are amortized daily for both financial and tax purposes.

Expenses — Each portfolio bears expenses incurred specifically on its behalf, such as advisory fees and custody fees, as well as a portion of the common expenses of the Fund, which are generally allocated based on average net assets.

22

MONY SERIES FUND, INC.

NOTES TO THE FINANCIAL STATEMENTS (Continued)

June 30, 2002 (Unaudited)

Use of Estimates in Preparation of Financial Statements — Preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Dividends and Distributions — Dividends from net investment income (including realized gains and losses on portfolio securities) of the Money Market Portfolio are declared and reinvested each business day in additional full and fractional shares of the portfolio. Dividends from net investment income and net realized capital gains of the other portfolios will normally be declared and reinvested annually in additional full and fractional shares. Dividends from net investment income and distributions from net realized capital gains are determined in accordance with U.S. Federal income tax regulations which may differ from generally accepted accounting principles.

3.  Investment Advisory Fees and Transactions with Affiliates

Under an investment advisory agreement between the Fund and MONY Life Insurance Company of America (“Investment Adviser” or “MONY America”), a wholly-owned subsidiary of The MONY Life Insurance Company (“MONY”), the Investment Adviser provides investment advice and related services for each of the Fund’s portfolios, administers the overall day-to-day affairs of the Fund, bears all expenses associated with organizing the Fund, the initial registration of its securities, and the compensation of the directors and officers of the Fund who are affiliates of the Investment Adviser.

For these services, the Investment Adviser receives an investment advisory fee, payable monthly and computed at an annual rate of 0.50% of the first $400,000,000 of the average daily net assets of each of the Fund’s portfolios except the Money Market Portfolio, which is 0.40% of the first $400,000,000 of the average daily net assets; 0.35% of the next $400,000,000 of the average daily net assets of each of the Fund’s portfolios; and 0.30% of the average daily net assets of each of the Fund’s portfolios in excess of $800,000,000.

MONY America has contractually agreed to limit the portfolios’ expenses through April 30, 2003 to the following expense ratios: Equity Growth — 1.15%, Equity Income — 1.05%, Intermediate Term Bond Portfolio — 0.75%, Long Term Bond Portfolio — 0.75%, Diversified Portfolio — 1.15%, Government Securities Portfolio — 0.75%, and Money Market Portfolio — 0.50%

Enterprise Capital Management (“ECM”), a wholly-owned subsidiary of MONY, provides administrative services to the Fund. For its services ECM receives an administrative fee, payable monthly and computed at an annual rate equal to 0.03% of the Fund’s average daily net assets.

Aggregate directors’ fees incurred for non-affiliated directors of the Fund for the period ended June 30, 2002 amounted to $32,048.

4.  Capital Stock

The Fund has 2 billion authorized shares of capital stock with a par value of $0.01 per share. 1.65 billion shares are reserved for issuance and divided into seven classes or portfolios as follows: Equity Growth (150 million shares); Equity Income (150 million shares); Intermediate Term Bond (150 million shares); Long Term Bond (150 million shares); Diversified (150 million shares); Government Securities (150 million shares); and Money Market (750 million shares). The remaining shares may be issued to any new or existing class upon approval of the Board of Directors.

23

MONY SERIES FUND, INC.

NOTES TO THE FINANCIAL STATEMENTS (Continued)

June 30, 2002 (Unaudited)

5.  Investment Transactions

For six months ended June 30, 2002 purchases and sales proceeds of investments, other than short-term investments, were as follows:

		Purchases		Sales
Equity Growth	Common Stock	$	245,922	$	331,106
Equity Income	Common Stock		2,347,130		2,812,311
Intermediate Term Bond	U.S. Government Obligations		4,008,203		1,500,000
	Corporate Bonds		8,976,540		—
Long Term Bond	U.S. Government Obligations		1,682,969		8,554,648
	Corporate Bonds		13,772,109		5,073,750
Diversified	U.S. Government Obligations		—		500,000
	Common Stock		172,371		253,122
Government Securities	U.S. Government		18,380,682		5,208,101

6.  Federal Tax Information

Net investment income and capital gain distributions are determined in accordance with federal income tax regulations which may differ from generally accepted accounting principles. These differences are primarily due to differing treatments for futures and options transactions, paydowns and losses deferred due to wash sales.

Permanent book and tax basis differences relating to shareholder distributions will result in reclassifications to paid-in capital. Any taxable gain remaining at fiscal year end is distributed in the following year.

The tax character of distributable earnings/(accumulated losses) as of December 31, 2001 was as follows:

Portfolio	Undistributed Ordinary Income		Undistributed Long-Term Gain		Capital Loss Carryforward
Equity Growth	$	9,491		—	$	4,260	1
Equity Income		222,260	$	1,175,376		—
Intermediate Term Bond		3,153,761		—		1,258,889	2
Long Term Bond		6,330,758		—		2,172,927	3
Diversified		33,965		202,918		—
Government Securities		3,002,432		—		213,072	4

¹ Expires in 2009

² Expires in 2001-2009

³ Expires in 2007-2008

⁴ Expires in 2008

Tax Basis Unrealized Gain (Loss) on Investments and Distributions

At June 30, 2002, the cost of securities for Federal income tax purposes, the aggregate gross unrealized gain for all securities for which there was an excess of value over tax cost and the aggregate gross unrealized loss for all securities for which there was an excess of tax cost over value were as follows:

Portfolio	Tax Cost		Unrealized Appreciation		Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
Equity Growth	$	1,309,367	$	64,130	$	(214,485	)	$	(150,355	)
Equity Income		10,271,903		1,253,263		(662,814	)		590,449
Intermediate Term Bond		80,073,139		2,998,864		(362,338	)		2,636,526
Long Term Bond		132,893,146		3,870,396		(3,000,803	)		869,593
Diversified		994,414		36,041		(149,898	)		(113,857	)
Government Securities		102,965,346		2,058,909		(25,802	)		2,033,107

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Investment Adviser

MONY Life Insurance Company of America

1740 Broadway

New York, New York 10019

Principal Underwriter and Distributor

MONY Securities Corporation

1740 Broadway

New York, New York 10019

Custodian and Transfer Agent

State Street Bank and Trust Company

P.O. Box 1713

Boston, Massachusetts 02105

Independent Accountants

PricewaterhouseCoopers LLP

Two Commerce Square, Suite 1700

2001 Market Street

Philadelphia, Pennsylvania 19103

This report is authorized for distribution only to shareholders and to others who have received a copy of this Fund’s prospectus.

25

DIRECTORS AND OFFICERS

NAME, AGE AND ADDRESS	POSITIONS HELD	LEngth of SERVICE (YEARS)	PRINCIPAL OCCUPATIONS PAST FIVE YEARS	NUMBER OF PORTFOLIOS IN COMPLEX	OTHER DIRECTORSHIPS
NON-INTERESTED PARTIES:
Joel Davis (68) Westport, CT	Director	17	President, Architectural Designs, Inc. Partner, Davis/Herschbein & Associates, LLC	7	—
Michael J. Drabb (68) Convent Station, NJ	Director	17	Retired Executive Vice President, O’Brien Asset Management	7	Mainstay VP Series Fund; NYL Settlement Corp.
Alan J. Hartnick (72) New York, NY	Director	7	Partner, Abelman, Frayne & Schwab, Attorneys-At-Law	7	—
Floyd L. Smith (70) Naples, FL	Director	17	Retired Vice Chairman and Chief Investment Officer, MONY	7	Empire Fidelity Investments Life Insurance Company
INTERESTED PARTIES:
Kenneth M. Levine (55) New York, NY	Chairman President, Director	10	Executive Vice President and Chief Investment Officer-The MONY Group, Inc. and MONY; Executive Vice President, MONY America	7	The MONY Group Inc. And various affiliates
Phillip G. Goff (38) Atlanta, GA	Controller	2	Senior Vice President and CFO, EFD; Vice President and CFO, ECM, EAT, and EGF	7	EGF-24 Funds; EAT-17 Portfolios; EGF plc 14 Portfolios
John C. Norton (56) New York, NY	Vice President, Compliance	5 mos.	Chief Compliance Officer-MONY Securities Corporation; 1996-2001 Assistant Vice President-Compliance, MONY	7	MONY Securities Corp.
David Weigel (55) New York, NY	Treasurer	10	Vice President and Treasurer of MONY and various affiliates	7	—
Arthur D. Woods (47) New York, NY	Secretary	1	Vice President, Chief Counsel-Operations, MONY; 1996-2000 Vice President and Counsel, Prudential Life Insurance Company of America	7	—

Footnotes:

EAT-Enterprise Accumulation Trust, Inc.	EGF plc-Enterprise Global Funds plc
ECM-Enterprise Capital Management, Inc.
EFD-Enterprise Fund Distributors, Inc.	MONY-The MONY Life Insurance Company
EGF-The Enterprise Group of Funds, Inc.	MONY America-MONY Life Insurance Company of America

The MONY Series Fund, Inc. Statement of Additional Information (SAI) includes additional information about Fund directors and is available by calling 1-800-487-6669.

26