# EDGAR Filing Document

**Accession Number:** 0001160168
**File Stem:** 0001193125-23-059870
**Filing Date:** 2023-3
**Character Count:** 722889
**Document Hash:** b5edd7060f53e480a73d2fcd96e52525
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-059870.hdr.sgml**: 20230303

**ACCESSION NUMBER**: 0001193125-23-059870

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230303

**DATE AS OF CHANGE**: 20230303

**EFFECTIVENESS DATE**: 20230303

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EQ PREMIER VIP TRUST
- **CENTRAL INDEX KEY:** 0001160168
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10509
- **FILM NUMBER:** 23703250

**BUSINESS ADDRESS:**
- **STREET 1:** 1290 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10104
- **BUSINESS PHONE:** 212-554-1234

**MAIL ADDRESS:**
- **STREET 1:** 1290 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AXA PREMIER VIP TRUST
- **DATE OF NAME CHANGE:** 20010926

## Series and Classes Contracts Data

### EQ/Core Plus Bond Portfolio (Series ID: S000008451)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023171 | Class A      |  |
| C000023172 | Class B      |  |
| C000104142 | Class K      |  |

### EQ/Conservative Allocation Portfolio (Series ID: S000008452)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023173 | Class A      |  |
| C000023174 | Class B      |  |
| C000104143 | Class K      |  |

### EQ/Conservative-Plus Allocation Portfolio (Series ID: S000008453)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023175 | Class A      |  |
| C000023176 | Class B      |  |
| C000104144 | Class K      |  |

### EQ/Moderate Allocation Portfolio (Series ID: S000008454)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023177 | Class A      |  |
| C000023178 | Class B      |  |
| C000104145 | Class K      |  |

### EQ/Moderate-Plus Allocation Portfolio (Series ID: S000008455)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023179 | Class A      |  |
| C000023180 | Class B      |  |
| C000104146 | Class K      |  |

### EQ/Aggressive Allocation Portfolio (Series ID: S000008456)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023181 | Class A      |  |
| C000023182 | Class B      |  |
| C000104147 | Class K      |  |

### Target 2015 Allocation Portfolio (Series ID: S000011772)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000032198 | Class A      |  |
| C000032199 | Class B      |  |
| C000104155 | Class K      |  |

### Target 2025 Allocation Portfolio (Series ID: S000011773)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000032200 | Class A      |  |
| C000032201 | Class B      |  |
| C000104156 | Class K      |  |

### Target 2035 Allocation Portfolio (Series ID: S000011774)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000032202 | Class A      |  |
| C000032203 | Class B      |  |
| C000104157 | Class K      |  |

### Target 2045 Allocation Portfolio (Series ID: S000011775)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000032204 | Class A      |  |
| C000032205 | Class B      |  |
| C000104158 | Class K      |  |

### Target 2055 Allocation Portfolio (Series ID: S000042502)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000131482 | Class B      |  |
| C000131483 | Class K      |  |

------

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM N-CSR** 

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**CERTIFIED SHAREHOLDER REPORT OF REGISTERED** 

**MANAGEMENT INVESTMENT COMPANIES** 

**Investment Company Act File Number 811-10509** 

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## EQ PREMIER VIP TRUST
**(Exact name of registrant as specified in charter)** 

------

**1290 Avenue of the Americas** 

**New York, New York 10104** 

**(Address of principal executive offices)** 

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**MAUREEN KANE, ESQ.** 

**Executive Vice President, General Counsel and Secretary** 

**Equitable Investment Management Group, LLC** 

**1290 Avenue of the Americas** 

**New York, New York 10104** 

**(Name and Address of Agent for Service)** 

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***Copies to:***

**MARK AMOROSI, ESQ.** 

**K&L Gates LLP** 

**1601 K Street, N.W.** 

**Washington, D.C. 20006-1600** 

------

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

**Date of fiscal year end: December 31** 

**Date of reporting period: January 1, 2022 – December 31, 2022** 

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Item 1. Reports to Stockholders.

Item 1(a):

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## EQ Premier VIP Trust

## Annual Report

## December 31, 2022

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## EQ Premier VIP Trust

## Annual Report

## December 31, 2022
***Table of Contents***

---

| | |
|:---|:---|
|  **[Notes on Performance (Unaudited)](#tx401146_1)** | 3 |
|  **Portfolios** |  |
|  EQ Allocation Portfolios |  |
|  [EQ/Conservative Allocation](#tx401146_2) | 5 |
|  [EQ/Conservative-Plus Allocation](#tx401146_3) | 14 |
|  [EQ/Moderate Allocation](#tx401146_4) | 23 |
|  [EQ/Moderate-Plus Allocation](#tx401146_5) | 33 |
|  [EQ/Aggressive Allocation](#tx401146_6) | 42 |
|  [EQ/Core Plus Bond](#tx401146_7) | 51 |
|  Target Allocation Portfolios |  |
|  [Target 2015 Allocation](#tx401146_8) | 78 |
|  [Target 2025 Allocation](#tx401146_9) | 85 |
|  [Target 2035 Allocation](#tx401146_10) | 92 |
|  [Target 2045 Allocation](#tx401146_11) | 99 |
|  [Target 2055 Allocation](#tx401146_12) | 107 |
|  **[Notes to Financial Statements](#tx401146_13)** | 114 |
|  **[Report of Independent Registered Public Accounting Firm](#tx401146_14)** | 133 |
|  **[Approvals of Investment Advisory and Sub-Advisory Agreements (Unaudited)](#tx401146_15)** | 134 |
|  **[Liquidity Risk Management Program (Unaudited)](#tx401146_16)** | 148 |
|  **[Federal Income Tax Information (Unaudited)](#tx401146_17)** | 149 |
|  **[Management of the Trust (Unaudited)](#tx401146_18)** | 150 |
|  **[Control Person and Principal Holders of Securities (Unaudited)](#tx401146_19)** | 156 |
|  **[Proxy Voting Policies and Procedures (Unaudited)](#tx401146_20)** | 156 |
|  **[Quarterly Portfolio Holdings Information (Unaudited)](#tx401146_21)** | 156 |

---

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**2022 Market Overview** 

The past year was one defined by the world's central banks, as the U.S. Federal Reserve and others boosted the cost of obtaining credit to tamp down burgeoning inflation. Interest rates rose across the yield curve, and then flattened out or inverted — meaning short-term rates generally rose more than their long-term counterparts. At the same time, Russia's attack on Ukraine triggered higher energy prices in Europe and higher food costs in parts of the world dependent on Ukrainian wheat. China's zero COVID policy weighed on local productivity and created further supply bottlenecks. Nonetheless, after several rounds of rate hikes, inflationary pressures appeared to have peaked by the third quarter.

**Fixed Income** 

In U.S. fixed-income markets, persistent inflation, rapid central bank rate increases and slowing growth all combined to hurt investment-grade bond returns. Indeed, these factors helped lead the Bloomberg U.S. Aggregate Bond Index to a -13% return. Corporate bonds underperformed the broader market, reflecting the slowdown in economic growth and corporate profits. The ICE BofA Merrill Lynch U.S. High Yield Index generated a total return of -11.2% for the period, mainly due to increased uncertainty following the Federal Reserve's actions, the Ukraine war, and a prolonged drop in overall risk asset valuations. Flows into the high-yield market were negative for the year, with outflows concentrated in the first three quarters of 2022.

**Equity** 

Throughout 2022, the Cboe Volatility Index, known as the stock market's "fear" gauge, was very volatile and finished much higher overall. U.S. equity markets entered a bear market (defined as a loss of 20% or more) early in the year, before rallying back in the fourth quarter. Nevertheless, despite the fourth quarter's gain, the S&P 500 Index declined more than 18% for the year, making 2022 the worst year for stocks since the Great Financial Crisis of 2008. In this environment, mid-cap stocks held up better than large- and small-cap stocks, but all endured double-digit losses as measured by the Russell family of indices. In terms of returns by style, value stocks significantly outperformed growth across all capitalization ranges, as rising rates negatively impacted long-duration growth stocks.

**International** 

International stocks performed better than their U.S. counterparts, but still produced double-digit declines in U.S. dollar terms, with the MSCI EAFE Index returning -14.5%. European stocks benefited from relatively strong earnings reports; nevertheless, investors worried about a potential looming energy crisis and economic slowdown ahead. Non-U.S. value stocks beat growth, aided by investor preference for more durable earnings growth and cash in hand as opposed to growth stocks' promise for earnings in the future.

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**NOTES ON PERFORMANCE (Unaudited)** 

**Total Returns** 

Performance of the EQ Premier VIP Trust Portfolios (each a "Portfolio" and together, the "Portfolios") as shown on the following pages compares each Portfolio's performance to that of a broad-based securities index. Each of the Portfolio's annualized rates of return is net of investment management fees and expenses of the Portfolio. Rates of return are not representative of the actual return you would receive under your variable life insurance policy or annuity contract. No policyholder or contractholder can invest directly in the EQ Premier VIP Trust Portfolios. Changes in policy values depend not only on the investment performance of the EQ Premier VIP Trust Portfolios, but also on the insurance and administrative charges, applicable sales charges, and the mortality and expense risk charge applicable under a policy. These policy charges effectively reduce the dollar amount of any net gains and increase the dollar amount of any net losses. Each of the EQ Premier VIP Trust Portfolios has a separate investment objective it seeks to achieve by following a separate investment policy. There is no guarantee that these objectives will be attained. The objectives and policies of each Portfolio will affect its return and its risk. Keep in mind that past performance is not an indication of future results.

**Growth of $10,000 Investment** 

The charts shown on the following pages illustrate the total value of an assumed investment in Class A, Class B and/or Class K shares of each Portfolio of the EQ Premier VIP Trust, as applicable. The periods illustrated are from the inception dates shown, or for a ten year period if the inception date is prior to December 31, 2012, through December 31, 2022. These results assume reinvestment of dividends and capital gains. The total value shown for each Portfolio reflects management fees and operating expenses of the Portfolios and 12b-1 fees which are applicable to Class A and Class B shares. 12b-1 fees are not applicable to Class K shares. The values have not been adjusted for insurance-related charges and expenses associated with life insurance policies or annuity contracts, which would lower the total values shown. Results should not be considered representative of future gains or losses.

**<u>The Benchmarks</u>**

Broad-based securities indices are unmanaged and are not subject to fees and expenses typically associated with actively-managed funds. An investment cannot be made directly in a broad-based securities index. Comparisons with these benchmarks, therefore, are of limited use. They are included because they are widely known and may help you to understand the universe of securities from which each Portfolio is likely to select its holdings.

**Bloomberg U.S. Aggregate Bond Index** 

An index which covers the U.S. dollar denominated investment- grade, fixed-rate, taxable bond market of securities. The index includes bonds from the Treasury, government-related and corporate securities, agency fixed rate and hybrid adjustable mortgage pass throughs, asset-backed securities and commercial mortgage-backed securities.

**Bloomberg U.S. Intermediate Government Bond Index** 

An unmanaged index of securities consisting of all U.S. Treasury and agency securities with remaining maturities of from one to ten years.

**ICE BofA 3-Month U.S. Treasury Bill Index ("ICE BofA 3 mo T-Bill")** 

An index which measures the returns of negotiable debt obligations issued by the U.S. government and backed by its full faith and credit, having a maturity of three months.

**Morgan Stanley Capital International (MSCI) EAFE<sup>®</sup> Index ("MSCI EAFE<sup>®</sup> Index")** 

A free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The index consists of the following 21 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.

**Russell 2000<sup>®</sup> Index ("Russell 2000")** 

An unmanaged index which measures the performance of approximately 2000 of the smallest companies in the Russell 3000<sup>®</sup> Index, which represents approximately 10% of the total market capitalization of the Russell 3000<sup>®</sup> Index. It is market- capitalization weighted.

**Standard & Poor's 500<sup>®</sup> Composite Stock Index ("S&P 500<sup>®</sup> Index")** 

A weighted index of common stocks of 500 leading companies in leading industries of the U.S. economy, capturing 75% coverage of U.S. equities. The index is capitalization weighted, thereby giving greater weight to companies with the largest market capitalizations.

**Standard & Poor's MidCap 400<sup>®</sup> Index ("S&P MidCap 400<sup>®</sup> Index" or "S&P 400<sup>®</sup> Index")** 

A weighted index of 400 domestic stocks chosen for market size, liquidity, and industry group representation. The index captures approximately 7% of the U.S. equities market. The index returns reflect the reinvestment of dividends.

**S&P Target Date<sup>®</sup> Indices** 

The S&P Target Date<sup>®</sup> Index Series comprises eleven multi-asset class indices, each corresponding to a

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**NOTES ON PERFORMANCE (Unaudited)** 

particular target retirement date. The asset allocation for each index in the series is determined once a year through a survey of large fund management companies that offer target date products. Each index is fully investable, with varying levels of exposure to equities, fixed income and commodities.

**EQ/Conservative Allocation Index** is a hypothetical time-weighted combination of unmanaged indexes. The composite index combines the total return of the Bloomberg U.S. Intermediate Government Bond Index at a weighting of 60%, the MSCI EAFE<sup>®</sup> Index at a weighting of 5%, the S&P MidCap 400<sup>®</sup> Index at a weighting of 4%, the S&P 500<sup>®</sup> Index at a weighting of 10%, the Russell 2000<sup>®</sup> Index at a weighting of 1%, the ICE BofA 3-Month U.S. Treasury Bill Index at a weighting of 7% and the Bloomberg U.S. Long Government/Credit Bond Index at a weighting of 13%. Prior to January 1, 2022, the weightings of the Bloomberg U.S. Intermediate Government Bond Index, ICE BofA 3-Month U.S. Treasury Bill Index, and Bloomberg U.S. Long Government/Credit Bond Index were 66%, 14% and 0%, respectively.

**EQ/Conservative-Plus Allocation Index** is a hypothetical time-weighted combination of unmanaged indexes. The composite index combines the total return of the Bloomberg U.S. Intermediate Government Bond Index at a weighting of 43%, the MSCI EAFE<sup>®</sup> Index at a weighting of 10%, the S&P MidCap 400<sup>®</sup> Index at a weighting of 8%, the S&P 500<sup>®</sup> Index at a weighting of 18%, the Russell 2000<sup>®</sup> Index at a weighting of 4%, the ICE BofA 3-Month U.S. Treasury Bill Index at a weighting of 5% and the Bloomberg U.S. Long Government/Credit Bond Index at a weighting of 12%. Prior to January 1, 2022, the weightings of the Bloomberg U.S. Intermediate Government Bond Index, ICE BofA 3-Month U.S. Treasury Bill Index, and Bloomberg U.S. Long Government/Credit Bond Index were 50%, 10% and 0%, respectively.

**EQ/Moderate Allocation Index** is a hypothetical time-weighted combination of unmanaged indexes. The composite index combines the total return of the Bloomberg U.S. Intermediate Government Bond Index at a weighting of 35%, the MSCI EAFE<sup>®</sup> Index at a weighting of 15%, the S&P MidCap 400<sup>®</sup> Index at a weighting of 9%, the S&P 500<sup>®</sup> Index at a weighting of 20%, the Russell 2000<sup>®</sup> Index at a weighting of 6%, the ICE BofA 3-Month U.S. Treasury Bill Index at a weighting of 4% and the Bloomberg U.S. Long Government/Credit Bond Index at a weighting of 11%. Prior to January 1, 2022, the weightings of the Bloomberg U.S. Intermediate Government Bond Index, ICE BofA 3-Month U.S. Treasury Bill Index, and Bloomberg U.S. Long Government/Credit Bond Index were 42%, 8% and 0%, respectively.

**EQ/Moderate-Plus Allocation Index** is a hypothetical time-weighted combination of unmanaged indexes. The composite index combines the total return of the Bloomberg U.S. Intermediate Government Bond Index at a weighting of 20%, the MSCI EAFE<sup>®</sup> Index at a weighting of 20%, the S&P MidCap 400<sup>®</sup> Index at a weighting of 12%, the S&P 500<sup>®</sup> Index at a weighting of 28%, the Russell 2000<sup>®</sup> Index at a weighting of 10%, the ICE BofA 3-Month U.S. Treasury Bill Index at a weighting of 2.5% and the Bloomberg U.S. Long Government/Credit Bond Index at a weighting of 7.5%. Prior to January 1, 2022, the weightings of the Bloomberg U.S. Intermediate Government Bond Index, ICE BofA 3-Month U.S. Treasury Bill Index, and Bloomberg U.S. Long Government/Credit Bond Index were 25%, 5% and 0%, respectively.

**EQ/Aggressive Allocation Index** is a hypothetical time-weighted combination of unmanaged indexes. The composite index combines the total return of the Bloomberg U.S. Intermediate Government Bond Index at a weighting of 6.5%, the MSCI EAFE<sup>®</sup> Index at a weighting of 25%, the S&P MidCap 400<sup>®</sup> Index at a weighting of 14%, the S&P 500<sup>®</sup> Index at a weighting of 39%, the Russell 2000<sup>®</sup> Index at a weighting of 12%, the ICE BofA 3-Month U.S. Treasury Bill Index at a weighting of 1% and the Bloomberg U.S. Long Government/Credit Bond Index at a weighting of 2.5%. Prior to January 1, 2022, the weightings of the Bloomberg U.S. Intermediate Government Bond Index, ICE BofA 3-Month U.S. Treasury Bill Index, and Bloomberg U.S. Long Government/Credit Bond Index were 8%, 2% and 0%, respectively.

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**EQ/CONSERVATIVE ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g40n08.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class A Shares | (12.62)% | 0.71% | 1.80 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (12.62) | 0.71 | 1.79 |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (12.42) | 0.96 | 2.05 |  |
| &nbsp;&nbsp;&nbsp; EQ/Conservative Allocation Index | (11.29) | 1.35 | 2.35 |  |
| &nbsp;&nbsp;&nbsp; S&P 500<sup>®</sup> Index | (18.11) | 9.42 | 12.56 |  |
| &nbsp;&nbsp;&nbsp; Bloomberg U.S. Intermediate Government Bond Index | (7.73) | 0.46 | 0.69 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

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*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (12.62)% for the year ended December 31, 2022. This compares to the returns of the following benchmarks over the same period: the EQ/Conservative Allocation Index, the S&P 500<sup>®</sup> Index and the Bloomberg U.S. Intermediate Government Bond Index, which returned (11.29)%, (18.11)% and (7.73)%, respectively.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. In the equity market, companies with lower valuations and higher dividends did relatively well, and among bonds, short-term government issues and corporate bonds (with bigger coupons) also mitigated some of the losses.

Against this backdrop, the Portfolio underperformed its combination benchmark by a small margin.

***What helped performance during the year?***

• From an asset-allocation perspective, with the broad bond market down 13.1% (Bloomberg U.S. Aggregate Bond Index) and the
stock market down 18.1% (S&P 500 Index), holding 80% of the assets in fixed-income funds provided a cushion against what would have been bigger losses from an all-stock portfolio. That said, the bond
holdings contributed roughly 70% of the Portfolio's losses.

• Among individual fund contributions, the Portfolio's very short-term bond strategy, its high-yield strategy and the
opportunistic bond fund hurt the least. Among equity holdings, the equity-income strategy contributed positively, and other value-style holdings were flat for the year.

• The Portfolio owned a number of actively managed portfolios that outperformed their benchmarks, including 1290 VT High
Yield Bond, Multimanager Core Bond and EQ/Core Plus Bond. Equity portfolios that outperformed their benchmarks (as much as 10 percentage points) included 1290 VT Equity Income, EQ/American Century Mid Cap Value, and EQ/Janus Enterprise.

***What hurt performance during the year?***

• Among the individual fund contributions, the Portfolio's long-duration and high-quality bonds provided the most
substantial drag on returns. These are the bonds that get hurt the worst by rising interest rates,and have the least cushion from coupons. On the equity side, the contribution to losses was most evident in a number of managed-volatility portfolios
that employ a strategy that sometimes results in underperformance when volatility is high, but equities are rising, as happened at several points in the year.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged the broader market.
Equity portfolios that struggled against their benchmarks in 2022 included EQ/Morgan Stanley Small Cap Growth, EQ/T. Rowe Price Growth Stock and EQ/ClearBridge Select Equity Managed Volatility.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Table by Asset Class** (as a percentage of Total<br>Investments in Securities) | &nbsp;&nbsp;&nbsp;**Table by Asset Class** (as a percentage of Total<br>Investments in Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; Fixed Income | 79.4% |
| &nbsp;&nbsp;&nbsp; Equity | 20.6 |

---

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**EQ/CONSERVATIVE ALLOCATION PORTFOLIO (Unaudited)** 

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) | &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; EQ/Intermediate Government Bond Portfolio | 20.1% |
| &nbsp;&nbsp;&nbsp; EQ/Core Bond Index Portfolio | 15.9 |
| &nbsp;&nbsp;&nbsp; EQ/PIMCO Ultra Short Bond Portfolio | 9.0 |
| &nbsp;&nbsp;&nbsp; Multimanager Core Bond Portfolio | 7.3 |
| &nbsp;&nbsp;&nbsp; EQ/Long-Term Bond Portfolio | 7.1 |
| &nbsp;&nbsp;&nbsp; ATM Large Cap Managed Volatility Portfolio | 6.1 |
| &nbsp;&nbsp;&nbsp; 1290 VT DoubleLine Opportunistic Bond Portfolio | 5.7 |
| &nbsp;&nbsp;&nbsp; EQ/Quality Bond PLUS Portfolio | 4.8 |
| &nbsp;&nbsp;&nbsp; EQ/Core Plus Bond Portfolio | 4.7 |
| &nbsp;&nbsp;&nbsp; 1290 Diversified Bond Fund | 3.3 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class A and Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses<br>Paid<br>During<br>Period\*<br>7/1/22 -<br>12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class A** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $985.40 | $2.38 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.80 | 2.43 |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 985.40 | 2.38 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.81 | 2.43 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 986.80 | 1.13 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1024.07 | 1.15 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.48%, 0.48% and 0.23%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.48%, 0.48% and 0.23%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.48%, 0.48% and 0.23%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.48%, 0.48% and 0.23%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST**

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (20.5%)** |  |  |
|  1290 VT Equity Income Portfolio‡ | 863840 | $4287107 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 21519 | 1339130 |
|  1290 VT Micro Cap Portfolio‡ | 231193 | 1886023 |
|  ATM International Managed Volatility Portfolio‡ | 1340067 | 12409311 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 3922757 | 49363153 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 2104605 | 14957407 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 563043 | 5351031 |
|  EQ/AB Small Cap Growth Portfolio‡ | 250612 | 3580819 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 159672 | 3430968 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 1015745 | 8234170 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 306961 | 4289745 |
|  EQ/International Core Managed Volatility Portfolio‡ | 301493 | 2927045 |
|  EQ/International Equity Index Portfolio‡ | 68367 | 633603 |
|  EQ/International Value Managed Volatility Portfolio‡ | 357086 | 4191333 |
|  EQ/Janus Enterprise Portfolio\*‡ | 317318 | 6144323 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 229742 | 4189291 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 1284432 | 12201624 |
|  EQ/Large Cap Growth Index Portfolio‡ | 75506 | 1237662 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 335852 | 5627233 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 719448 | 5393011 |
|  EQ/MFS International Growth Portfolio‡ | 720084 | 4826960 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 319953 | 1787250 |
|  EQ/T. Rowe Price Growth Stock Portfolio\*‡ | 69121 | 3232466 |
|  EQ/Value Equity Portfolio‡ | 208950 | 3883303 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 165403968 |
|  **Fixed Income (79.4%)** |  |  |
|  1290 Diversified Bond Fund‡ | 2987390 | 26886513 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 5409392 | 45582027 |
|  1290 VT High Yield Bond Portfolio‡ | 1471991 | 12129835 |
|  EQ/Core Bond Index Portfolio‡ | 14226793 | 127917416 |
|  EQ/Core Plus Bond Portfolio‡ | 11042108 | 38015592 |
|  EQ/Intermediate Government Bond Portfolio‡ | 17196712 | 161695537 |
|  EQ/Long-Term Bond Portfolio‡ | 8230052 | 56988194 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 7507418 | 72017645 |
|  EQ/Quality Bond PLUS Portfolio‡ | 5146584 | 38937327 |
|  Multimanager Core Bond Portfolio‡ | 6947967 | 58606390 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 638776476 |
|  **Total Investments in Securities (99.9%)**<br> *(Cost $865,170,781)* |  | 804180444 |
|  **Other Assets Less Liabilities (0.1%)** |  | 705003 |
|  **Net Assets (100%)** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804885447 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change**<br>**in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 VT Equity Income Portfolio | 863840 | 6120405 | 518351 | (2180859) | 475496 | (646286) | 4287107 | 87373 | 232018 |
|  1290 VT GAMCO Small Company Value Portfolio | 21519 | 729662 | 776154 |  |  | (166686) | 1339130 | 10662 | 65492 |
|  1290 VT Micro Cap Portfolio | 231193 | 2067112 | 830559 | (360286) | (94) | (651268) | 1886023 | 8370 | 55870 |
|  ATM International Managed Volatility Portfolio | 1340067 | 14017941 | 2730225 | (2001431) | 669 | (2338093) | 12409311 | 348626 |  |
|  ATM Large Cap Managed Volatility Portfolio | 3922757 | 72436698 | 9115782 | (15177728) | 356830 | (17368429) | 49363153 | 561013 | 2864132 |
|  ATM Mid Cap Managed Volatility Portfolio | 2104605 | 19806607 | 2281562 | (3522003) | 28000 | (3636759) | 14957407 | 159349 | 437974 |
|  ATM Small Cap Managed Volatility Portfolio | 563043 | 5158352 | 2190286 | (720572) | (1859) | (1275176) | 5351031 | 55572 | 102073 |
|  EQ/AB Small Cap Growth Portfolio | 250612 | 3333897 | 1777637 | (360286) | 4339 | (1174768) | 3580819 | 14536 | 146782 |
|  EQ/American Century Mid Cap Value Portfolio | 159672 | 3566659 | 722094 | (360286) | 5454 | (502953) | 3430968 | 107849 | 347925 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST**

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change**<br>**in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 1015745 | 11284022 | 1447133 | (1441145) | (72690) | (2983150) | 8234170 | 55388 | 26467 |
|  EQ/Global Equity Managed Volatility Portfolio | 306961 | 5481013 | 781510 | (720572) | (23404) | (1228802) | 4289745 | 27462 | 121410 |
|  EQ/International Core Managed Volatility Portfolio | 301493 | 3170529 | 951100 | (720572) | (12792) | (461220) | 2927045 | 44481 | 23981 |
|  EQ/International Equity Index Portfolio | 68367 | 717461 | 17183 |  |  | (101041) | 633603 | 17183 |  |
|  EQ/International Value Managed Volatility Portfolio | 357086 | 4751051 | 896085 | (720572) | 2624 | (737855) | 4191333 | 77628 | 35818 |
|  EQ/Janus Enterprise Portfolio\* | 317318 | 7309281 | 1124349 | (720572) | 341 | (1569076) | 6144323 |  | 411709 |
|  EQ/JPMorgan Value Opportunities Portfolio | 229742 | 6030593 | 583744 | (2080859) | 250142 | (594329) | 4189291 | 55380 | 329403 |
|  EQ/Large Cap Core Managed Volatility Portfolio | 1284432 | 17039715 | 1584468 | (2261717) | (134329) | (4026513) | 12201624 | 35562 | 1150987 |
|  EQ/Large Cap Growth Index Portfolio | 75506 | 1988951 | 103901 | (200000) | 7847 | (663037) | 1237662 | 6617 | 97283 |
|  EQ/Large Cap Value Managed Volatility Portfolio | 335852 | 9272873 | 580638 | (2991145) | 384305 | (1619438) | 5627233 | 90206 | 225153 |
|  EQ/Loomis Sayles Growth Portfolio\* | 719448 | 6390074 | 2108261 | (720572) | (1582) | (2383170) | 5393011 |  | 675622 |
|  EQ/MFS International Growth Portfolio | 720084 | 5801454 | 831455 | (720572) | (13081) | (1072296) | 4826960 | 55091 | 193723 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 319953 | 2167134 | 1132752 | (360286) | 1609 | (1153959) | 1787250 | 238 | 16195 |
|  EQ/T. Rowe Price Growth Stock Portfolio\* | 69121 | 2740281 | 2367586 | (360286) | (8150) | (1506965) | 3232466 |  | 101267 |
|  EQ/Value Equity Portfolio | 208950 | 6311160 | 340541 | (1780859) | 178370 | (1165909) | 3883303 | 53679 | 87901 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 2987390 | 28614937 | 2786302 |  |  | (4514726) | 26886513 | 886301 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 5409392 | 59483902 | 3577917 | (8286583) | (407942) | (8785267) | 45582027 | 1599182 | 53378 |
|  1290 VT High Yield Bond Portfolio | 1471991 | 14567333 | 1471478 | (1801431) | (9804) | (2097741) | 12129835 | 689879 |  |
|  EQ/Core Bond Index Portfolio | 14226793 | 167112266 | 7470752 | (30089176) | (61638) | (16514788) | 127917416 | 2493465 | 358855 |
|  EQ/Core Plus Bond Portfolio | 11042108 | 48693776 | 2891154 | (6485152) | (364543) | (6719643) | 38015592 | 1062308 | 35087 |
|  EQ/Intermediate Government Bond Portfolio | 17196712 | 210297173 | 8285186 | (39815472) | (104131) | (16967219) | 161695537 | 1999435 | 158283 |
|  EQ/Long-Term Bond Portfolio | 8230052 | 92916737 | 5026001 | (14771735) | (2630301) | (23552508) | 56988194 | 1962625 | 44261 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST**

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change**<br>**in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income ($)** | **Capital Gain<br>Distributions<br>($)** |
|  EQ/PIMCO Ultra Short Bond Portfolio | 7507418 | 83730172 | 3099449 | (13188014) | 118528 | (1742490) | 72017645 | 1176429 | 66065 |
|  EQ/Quality Bond PLUS Portfolio | 5146584 | 46141033 | 4879730 | (6845438) | (168438) | (5069560) | 38937327 | 370921 | 298733 |
|  Multimanager Core Bond Portfolio | 6947967 | 76021287 | 3904688 | (10448300) | (565357) | (10305928) | 58606390 | 1681413 |  |
|  **Total** |  | **1045271541** | **79186013** | **(172214481)** | **(2765581)** | **(145297048)** | **804180444** | **15794223** | **8763847** |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** | **Assets:** | **Assets:** | **Assets:** |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $26886513 | $777293931 | $— | $804180444 |
|  **Total Assets** | $**26886513** | $**777293931** | $**—** | $**804180444** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**26886513** | $**777293931** | $**—** | $**804180444** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $79186013 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172214481 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $31330128 |
|  Aggregate gross unrealized depreciation | (93797871) |
|  Net unrealized depreciation | $(62467743) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866648187 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $865,170,781) | $804180444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 1219432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for securities sold | 85769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 14734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 3820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 805504199 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 227500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 169721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 90230 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 61367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class A | 2183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 67727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 618752 |
|  **NET ASSETS** | $804885447 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $863479054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (58593607) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $804885447 |
|  **Class A** |  |
|  Net asset value, offering and redemption price per share, $10,173,312 / 1,301,406 shares outstanding (unlimited amount authorized: $0.01 par value) | $7.82 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $787,248,557 / 100,643,838 shares outstanding (unlimited amount authorized: $0.01 par value) | $7.82 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $7,463,578 / 956,978 shares outstanding (unlimited amount authorized: $0.01 par value) | $7.80 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $15794223 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 11304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 15805527 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 2193071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 1106684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 897935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 199000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 73605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 37354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class A | 31951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 30693 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 16361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gross expenses | 4586654 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Waiver from investment manager | (305671) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 4280983 |
|  **NET INVESTMENT INCOME (LOSS)** | 11524544 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | (2765581) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 8763847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 5998266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (145297048) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (139298782) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(127774238) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $11524544 | $7953390 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 5998266 | 55925656 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (145297048) | (34568120) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (127774238) | 29310926 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (604287) | (789643) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (43005262) | (52603580) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (429284) | (474367) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (44038833) | (53867590) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 149,825 and 262,643 shares, respectively ] | 1296320 | 2571726 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 76,981 and 82,993 shares, respectively ] | 604287 | 789643 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (545390) and (348743) shares, respectively ] | (4503489) | (3419110) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class A transactions | (2602882) | (57741) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 11,662,359 and 14,384,905 shares, respectively ] | 100274302 | 141098256 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 5,474,341 and 5,525,935 shares, respectively ] | 43005262 | 52603580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (24600500) and (25242815) shares, respectively ] | (209909567) | (247220962) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | (66630003) | (53519126) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 219,238 and 129,820 shares, respectively ] | 1835559 | 1268845 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 54,726 and 49,960 shares, respectively ] | 429284 | 474367 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (251365) and (394096) shares, respectively ] | (2131363) | (3872494) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | 133480 | (2129282) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | (69099405) | (55706149) |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (240912476) | (80262813) |
|  **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 1045797923 | 1126060736 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $804885447 | $1045797923 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class A** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $9.45 | $9.68 | $9.41 | $8.94 | $9.46 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.09 | 0.08 | 0.09 | 0.14 | 0.13 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (1.29) | 0.19 | 0.58 | 0.69 | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.20) | 0.27 | 0.67 | 0.83 | (0.15) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.12) | (0.14) | (0.17) | (0.16) | (0.14) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.31) | (0.36) | (0.23) | (0.20) | (0.23) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.43) | (0.50) | (0.40) | (0.36) | (0.37) |
|  Net asset value, end of year | $7.82 | $9.45 | $9.68 | $9.41 | $8.94 |
|  Total return | (12.62)% | 2.81% | 7.24% | 9.26% | (1.59)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10173 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15301 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15719 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19285 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20046 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.48 %(j) | 0.48 %(j) | 0.47 %(j) | 0.48 %(j) | 0.47 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.51% | 0.50% | 0.52% | 0.52% | 0.52% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.11% | 0.73% | 0.97% | 1.51% | 1.40% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.07% | 0.70% | 0.93% | 1.48% | 1.35% |
|  Portfolio turnover rate^ | 9% | 26% | 20% | 12% | 12% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $9.45 | $9.69 | $9.41 | $8.94 | $9.46 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.11 | 0.08 | 0.10 | 0.14 | 0.12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (1.31) | 0.18 | 0.58 | 0.69 | (0.27) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.20) | 0.26 | 0.68 | 0.83 | (0.15) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.12) | (0.14) | (0.17) | (0.16) | (0.14) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.31) | (0.36) | (0.23) | (0.20) | (0.23) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.43) | (0.50) | (0.40) | (0.36) | (0.37) |
|  Net asset value, end of year | $7.82 | $9.45 | $9.69 | $9.41 | $8.94 |
|  Total return | (12.62)% | 2.70% | 7.35% | 9.25% | (1.59)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787249 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021690 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099239 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009701 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022384 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.48 %(j) | 0.48 %(j) | 0.47 %(j) | 0.48 %(j) | 0.47 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.51% | 0.50% | 0.52% | 0.52% | 0.52% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.28% | 0.73% | 1.02% | 1.49% | 1.33% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.25% | 0.70% | 0.97% | 1.45% | 1.28% |
|  Portfolio turnover rate^ | 9% | 26% | 20% | 12% | 12% |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS (Continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $9.43 | $9.67 | $9.39 | $8.92 | $9.44 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.14 | 0.09 | 0.13 | 0.18 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (1.32) | 0.19 | 0.58 | 0.67 | (0.28) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.18) | 0.28 | 0.71 | 0.85 | (0.12) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.14) | (0.16) | (0.20) | (0.18) | (0.17) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.31) | (0.36) | (0.23) | (0.20) | (0.23) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.45) | (0.52) | (0.43) | (0.38) | (0.40) |
|  Net asset value, end of year | $7.80 | $9.43 | $9.67 | $9.39 | $8.92 |
|  Total return | (12.42)% | 2.97% | 7.63% | 9.54% | (1.34)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7464 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8807 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11102 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10598 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9246 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.23 %(j) | 0.23 %(j) | 0.22 %(j) | 0.23 %(j) | 0.22 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.26% | 0.26% | 0.27% | 0.27% | 0.27% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.60% | 0.89% | 1.32% | 1.89% | 1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.57% | 0.87% | 1.27% | 1.85% | 1.64% |
|  Portfolio turnover rate^ | 9% | 26% | 20% | 12% | 12% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.00% for Class A, 1.00% for Class B and 0.75% for Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g67y51.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class A Shares | (14.53)% | 1.87% | 3.51 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (14.52) | 1.87 | 3.52 |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (14.40) | 2.12 | 3.76 |  |
| &nbsp;&nbsp;&nbsp; EQ/Conservative-Plus Allocation Index | (12.89) | 2.69 | 4.28 |  |
| &nbsp;&nbsp;&nbsp; S&P 500<sup>®</sup> Index | (18.11) | 9.42 | 12.56 |  |
| &nbsp;&nbsp;&nbsp; Bloomberg U.S. Intermediate Government Bond Index | (7.73) | 0.46 | 0.69 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (14.52)% for the year ended December 31, 2022. This compares to the returns of the following benchmarks over the same period: the EQ/Conservative-Plus Allocation Index, the S&P 500<sup>®</sup> Index and the Bloomberg U.S. Intermediate Government Bond Index, which returned (12.89)%, (18.11)% and (7.73)%, respectively.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. In the equity market, companies with lower valuations and higher dividends did relatively well, and among bonds, short-term government issues and corporate bonds (with bigger coupons) also mitigated some of the losses.

Against this backdrop, the Portfolio underperformed its combination benchmark by a small margin.

***What helped performance during the year?***

• From an asset-allocation perspective, with the broad bond market down 13.1% (Bloomberg U.S. Aggregate Bond Index) and the
stock market down 18.1% (S&P 500 Index), holding 80% of the assets in fixed-income funds provided a cushion against what would have been bigger losses from an all-stock portfolio. That said, the bond
holdings contributed a little more than half the Portfolio's losses.

• Among individual bond markets, the Portfolio's very short-term bonds and its high-yield holdings outperformed the
broad market. Among equity markets, holdings in large, middle and small capitalization U.S. equities provided a buffer against more extreme losses in the broad market. An equity-income strategy contributed positively, and other value-style holdings
were flat for the year.

• The Portfolio owned a number of actively managed portfolios that outperformed their benchmarks, including 1290 VT High
Yield Bond, Multimanager Core Bond and EQ/Core Plus Bond. Equity portfolios that outperformed their benchmarks (by more than 10 percentage points) included 1290 VT Equity Income, 1290 VT Small Cap Value, EQ/American Century Mid Cap Value, and
EQ/Janus Enterprise.

***What hurt performance during the year?***

• In the bond markets, the Portfolio's long-duration and high-quality bonds provided the most substantial drag on
returns. These are the bonds that get hurt the worst by rising interest rates and have the least cushion from coupons. On the equity side, the contribution to losses was most evident in a number of managed-volatility portfolios that employ a
strategy that sometimes results in underperformance when volatility is high, but equities are rising, as happened at several points in the year.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged the broader market.
Equity portfolios that struggled against their benchmarks in 2022 included EQ/Morgan Stanley Small Cap Growth (by a considerable margin), EQ/T. Rowe Price Growth Stock and EQ/ClearBridge Select Equity Managed Volatility.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; Fixed Income | 59.2% |
| &nbsp;&nbsp;&nbsp; Equity | 40.8 |

---

------

**EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) | &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | &nbsp;&nbsp;&nbsp;**As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; EQ/Intermediate Government Bond Portfolio | 13.7% |
| &nbsp;&nbsp;&nbsp; ATM Large Cap Managed Volatility Portfolio | 10.5 |
| &nbsp;&nbsp;&nbsp; EQ/Core Bond Index Portfolio | 10.3 |
| &nbsp;&nbsp;&nbsp; EQ/Long-Term Bond Portfolio | 7.8 |
| &nbsp;&nbsp;&nbsp; EQ/PIMCO Ultra Short Bond Portfolio | 6.1 |
| &nbsp;&nbsp;&nbsp; Multimanager Core Bond Portfolio | 5.7 |
| &nbsp;&nbsp;&nbsp; 1290 VT DoubleLine Opportunistic Bond Portfolio | 4.4 |
| &nbsp;&nbsp;&nbsp; ATM International Managed Volatility Portfolio | 4.2 |
| &nbsp;&nbsp;&nbsp; EQ/Quality Bond PLUS Portfolio | 3.8 |
| &nbsp;&nbsp;&nbsp; EQ/Core Plus Bond Portfolio | 3.7 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class A and Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses**<br> **Paid**<br> **During**<br> **Period\*<br>7/1/22 -<br>12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class A** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $997.10 | $2.62 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.58 | 2.65 |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 997.10 | 2.62 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.58 | 2.65 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 998.50 | 1.36 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.84 | 1.38 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.52%, 0.52% and 0.27%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.52%, 0.52% and 0.27%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.52%, 0.52% and 0.27%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.52%, 0.52% and 0.27%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |
|  **Equity (40.8%)** |  |  |
|  1290 VT Equity Income Portfolio‡ | 1837192 | $9117712 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 72572 | 4516207 |
|  1290 VT Micro Cap Portfolio‡ | 538957 | 4396699 |
|  1290 VT Small Cap Value Portfolio‡ | 437954 | 4848551 |
|  ATM International Managed Volatility Portfolio‡ | 4011687 | 37149090 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 7484411 | 94182266 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 3307032 | 23503041 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 2353848 | 22370430 |
|  EQ/AB Small Cap Growth Portfolio‡ | 818491 | 11694825 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 174217 | 3743516 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 1804551 | 14628646 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio‡ | 232177 | 2965132 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 922235 | 12888122 |
|  EQ/International Core Managed Volatility Portfolio‡ | 950552 | 9228435 |
|  EQ/International Equity Index Portfolio‡ | 153298 | 1420717 |
|  EQ/International Value Managed Volatility Portfolio‡ | 1064226 | 12491474 |
|  EQ/Janus Enterprise Portfolio\*‡ | 546753 | 10586939 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 481965 | 8788532 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 2013623 | 19128664 |
|  EQ/Large Cap Growth Index Portfolio‡ | 93698 | 1535859 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 716386 | 12003111 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 1209700 | 9067956 |
|  EQ/MFS International Growth Portfolio‡ | 2173653 | 14570702 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 1021012 | 5703345 |
|  EQ/T. Rowe Price Growth Stock Portfolio\*‡ | 133897 | 6261775 |
|  EQ/Value Equity Portfolio‡ | 472647 | 8784071 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 365575817 |
|  **Fixed Income (59.1%)** |  |  |
|  1290 Diversified Bond Fund‡ | 2584290 | 23258611 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 4638943 | 39089867 |
|  1290 VT High Yield Bond Portfolio‡ | 1248165 | 10285411 |
|  EQ/Core Bond Index Portfolio‡ | 10231750 | 91996769 |
|  EQ/Core Plus Bond Portfolio‡ | 9636051 | 33174842 |
|  EQ/Intermediate Government Bond Portfolio‡ | 13099508 | 123170755 |
|  EQ/Long-Term Bond Portfolio‡ | 10122684 | 70093539 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 5649529 | 54195164 |
|  EQ/Quality Bond PLUS Portfolio‡ | 4545081 | 34386553 |
|  Multimanager Core Bond Portfolio‡ | 6036526 | 50918345 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 530569856 |
|  **Total Investments in Securities (99.9%)**<br> *(Cost $919,223,424)* |  | 896145673 |
|  **Other Assets Less Liabilities (0.1%)** |  | 870086 |
|  **Net Assets (100%)** |  | $897015759 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change**<br>**in Unrealized**<br>**Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 VT Equity Income Portfolio | 1837192 | 12174318 | 733144 | (3417602) | 819505 | (1191653) | 9117712 | 185653 | 493002 |
|  1290 VT GAMCO Small Company Value Portfolio | 72572 | 6231919 | 287874 | (1108801) | 412307 | (1307092) | 4516207 | 36177 | 224453 |
|  1290 VT Micro Cap Portfolio | 538957 | 5365379 | 1376476 | (758801) | (1418) | (1584937) | 4396699 | 19527 | 129704 |
|  1290 VT Small Cap Value Portfolio | 437954 | 5985700 | 470715 | (1158801) | 95804 | (544867) | 4848551 | 32289 | 411181 |
|  ATM International Managed Volatility Portfolio | 4011687 | 44576438 | 6156070 | (6211608) | 7164 | (7378974) | 37149090 | 1040354 |  |
|  ATM Large Cap Managed Volatility Portfolio | 7484411 | 136425203 | 13472052 | (23463627) | (54503) | (32196859) | 94182266 | 1071414 | 5401249 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change**<br>**in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  ATM Mid Cap Managed Volatility Portfolio | 3307032 | 30748913 | 2773841 | (4294006) | 10599 | (5736306) | 23503041 | 250688 | 686929 |
|  ATM Small Cap Managed Volatility Portfolio | 2353848 | 29064384 | 6164181 | (5673407) | (3222) | (7181506) | 22370430 | 233028 | 431306 |
|  EQ/AB Small Cap Growth Portfolio | 818491 | 13588757 | 4350110 | (1897003) | 4165 | (4351204) | 11694825 | 47620 | 484377 |
|  EQ/American Century Mid Cap Value Portfolio | 174217 | 4649379 | 913819 | (1279401) | 108245 | (648526) | 3743516 | 118312 | 381884 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 1804551 | 21518535 | 1177023 | (2276404) | (213855) | (5576653) | 14628646 | 98478 | 46809 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio | 232177 | 4409077 | 155793 | (758801) | (15654) | (825283) | 2965132 | 21983 | 106567 |
|  EQ/Global Equity Managed Volatility Portfolio | 922235 | 16692950 | 1884686 | (1897003) | (64257) | (3728254) | 12888122 | 82491 | 359082 |
|  EQ/International Core Managed Volatility Portfolio | 950552 | 11081211 | 1317798 | (1517602) | (40143) | (1612829) | 9228435 | 139938 | 73370 |
|  EQ/International Equity Index Portfolio | 153298 | 1608751 | 38528 |  |  | (226562) | 1420717 | 38529 |  |
|  EQ/International Value Managed Volatility Portfolio | 1064226 | 14301258 | 2668471 | (2276404) | (2828) | (2199023) | 12491474 | 231304 | 105432 |
|  EQ/Janus Enterprise Portfolio\* | 546753 | 12062414 | 3274958 | (2138202) | (10702) | (2601529) | 10586939 |  | 734091 |
|  EQ/JPMorgan Value Opportunities Portfolio | 481965 | 12154289 | 867043 | (3517602) | 371219 | (1086417) | 8788532 | 116079 | 696476 |
|  EQ/Large Cap Core Managed Volatility Portfolio | 2013623 | 32219878 | 2148567 | (7674006) | 987062 | (8552837) | 19128664 | 55877 | 1956465 |
|  EQ/Large Cap Growth Index Portfolio | 93698 | 2174289 | 128934 |  |  | (767364) | 1535859 | 8212 | 120722 |
|  EQ/Large Cap Value Managed Volatility Portfolio | 716386 | 20698836 | 777818 | (6705804) | 2714824 | (5482563) | 12003111 | 192594 | 489867 |
|  EQ/Loomis Sayles Growth Portfolio\* | 1209700 | 10881104 | 3745749 | (1517602) | (26584) | (4014711) | 9067956 |  | 1116260 |
|  EQ/MFS International Growth Portfolio | 2173653 | 18157797 | 2084591 | (2276404) | (59100) | (3336182) | 14570702 | 166632 | 586224 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 1021012 | 8546815 | 2757596 | (1517602) | (4938) | (4078526) | 5703345 | 770 | 52337 |
|  EQ/T. Rowe Price Growth Stock Portfolio\* | 133897 | 6377477 | 3683422 | (758801) | (9830) | (3030493) | 6261775 |  | 181177 |
|  EQ/Value Equity Portfolio | 472647 | 12358818 | 873035 | (2367602) | (195370) | (1884810) | 8784071 | 121252 | 197294 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 2584290 | 24335385 | 2709158 |  |  | (3785932) | 23258611 | 759158 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 4638943 | 49857463 | 3399364 | (6449810) | (211030) | (7506120) | 39089867 | 1372683 | 45100 |
|  1290 VT High Yield Bond Portfolio | 1248165 | 12597727 | 1015183 | (1517602) | (17463) | (1792434) | 10285411 | 585694 |  |
|  EQ/Core Bond Index Portfolio | 10231750 | 130312879 | 5496134 | (31321828) | 464012 | (12954428) | 91996769 | 1796469 | 259409 |
|  EQ/Core Plus Bond Portfolio | 9636051 | 42900687 | 1799454 | (5311608) | (476849) | (5736842) | 33174842 | 928026 | 30715 |
|  EQ/Intermediate Government Bond Portfolio | 13099508 | 169414373 | 6176644 | (39003437) | (183904) | (13232921) | 123170755 | 1525060 | 120614 |
|  EQ/Long-Term Bond Portfolio | 10122684 | 107988865 | 7938395 | (15176024) | (1754442) | (28903255) | 70093539 | 2415234 | 53263 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 5649529 | 67947929 | 1208582 | (13688012) | (65511) | (1207824) | 54195164 | 886359 | 49775 |
|  EQ/Quality Bond PLUS Portfolio | 4545081 | 42505520 | 2827852 | (6311608) | (115904) | (4519307) | 34386553 | 327795 | 259343 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change**<br>**in Unrealized**<br>**Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income ($)** | **Capital Gain<br>Distributions<br>($)** |
|  Multimanager Core Bond Portfolio | 6036526 | 65304645 | 4405285 | (9717413) | (300415) | (8773757) | 50918345 | 1419214 |  |
|  **Total** |  | **1207219362** | **101258345** | **(214960238)** | **2166984** | **(199538780)** | **896145673** | **16324893** | **16284477** |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for**<br> **Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $23258611 | $872887062 | $— | $896145673 |
|  **Total Assets** | $**23258611** | $**872887062** | $**—** | $**896145673** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**23258611** | $**872887062** | $**—** | $**896145673** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $101258345 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214960238 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $75777818 |
|  Aggregate gross unrealized depreciation | (100057089) |
|  Net unrealized depreciation | $(24279271) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920424944 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $919,223,424) | $896145673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 1299328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 191522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for securities sold | 106538 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 4313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 897747374 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 293933 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 186331 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 100829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 77574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class A | 3111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 69788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 731615 |
|  **NET ASSETS** | $897015759 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $910910718 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (13894959) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $897015759 |
|  **Class A** |  |
|  Net asset value, offering and redemption price per share, $14,440,288 / 1,870,349 shares outstanding (unlimited amount authorized: $0.01 par value) | $7.72 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $861,729,556 / 111,525,827 shares outstanding (unlimited amount authorized: $0.01 par value) | $7.73 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $20,845,915 / 2,698,921 shares outstanding (unlimited amount authorized: $0.01 par value) | $7.72 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $16324893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 11421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 16336314 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 2420721 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 1242141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 1008130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 204600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 77779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 71123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class A | 41349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 33365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 18388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | 5117596 |
|  **NET INVESTMENT INCOME (LOSS)** | 11218718 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | 2166984 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 16284477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 18451461 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (199538780) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (181087319) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(169868601) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $11218718 | $8209439 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 18451461 | 106932781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (199538780) | (34757421) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (169868601) | 80384799 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (1251482) | (1525373) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (75212485) | (87587288) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (1863035) | (2330994) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (78327002) | (91443655) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 240,294 and 449,920 shares, respectively ] | 2160576 | 4660488 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 161,750 and 153,426 shares, respectively ] | 1251482 | 1525373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (558658) and (440877) shares, respectively ] | (4913383) | (4552775) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class A transactions | (1501325) | 1633086 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 4,920,316 and 8,104,689 shares, respectively ] | 43077714 | 83436289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 9,713,577 and 8,800,573 shares, respectively ] | 75212485 | 87587288 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (20320188) and (17530597) shares, respectively ] | (176308212) | (181096856) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | (58018013) | (10073279) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 96,599 and 139,646 shares, respectively ] | 853781 | 1448165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 240,285 and 234,175 shares, respectively ] | 1863035 | 2330994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (639308) and (377350) shares, respectively ] | (5729629) | (3897574) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | (3012813) | (118415) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | (62532151) | (8558608) |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (310727754) | (19617464) |
|  **NET ASSETS:** | **NET ASSETS:** | **NET ASSETS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 1207743513 | 1227360977 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $897015759 | $1207743513 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class A** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $9.87 | $10.00 | $9.73 | $9.04 | $9.95 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.09 | 0.07 | 0.09 | 0.13 | 0.12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (1.53) | 0.59 | 0.87 | 1.08 | (0.47) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.44) | 0.66 | 0.96 | 1.21 | (0.35) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.11) | (0.22) | (0.20) | (0.16) | (0.15) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.60) | (0.57) | (0.49) | (0.36) | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.71) | (0.79) | (0.69) | (0.52) | (0.56) |
|  Net asset value, end of year | $7.72 | $9.87 | $10.00 | $9.73 | $9.04 |
|  Total return | (14.53)% | 6.66% | 10.08% | 13.45% | (3.63)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14440 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20012 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18637 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18127 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16418 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.51 %(j) | 0.50 %(k) | 0.52 %(m) | 0.52 %(n) | 0.53 %(o) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.51% | 0.50% | 0.52% | 0.52% | 0.53% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.07% | 0.72% | 0.88% | 1.38% | 1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.07% | 0.72% | 0.88% | 1.38% | 1.18% |
|  Portfolio turnover rate^ | 10% | 27% | 23% | 13% | 14% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $9.88 | $10.00 | $9.74 | $9.05 | $9.96 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.10 | 0.07 | 0.09 | 0.13 | 0.11 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (1.54) | 0.60 | 0.86 | 1.08 | (0.46) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.44) | 0.67 | 0.95 | 1.21 | (0.35) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.11) | (0.22) | (0.20) | (0.16) | (0.15) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.60) | (0.57) | (0.49) | (0.36) | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.71) | (0.79) | (0.69) | (0.52) | (0.56) |
|  Net asset value, end of year | $7.73 | $9.88 | $10.00 | $9.74 | $9.05 |
|  Total return | (14.52)% | 6.76% | 9.96% | 13.43% | (3.62)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861730 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158085 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178676 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178433 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144990 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.51 %(j) | 0.50 %(k) | 0.52 %(m) | 0.52 %(n) | 0.53 %(o) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.51% | 0.50% | 0.52% | 0.52% | 0.53% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.11% | 0.66% | 0.87% | 1.36% | 1.16% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.11% | 0.66% | 0.87% | 1.36% | 1.16% |
|  Portfolio turnover rate^ | 10% | 27% | 23% | 13% | 14% |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CONSERVATIVE-PLUS ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS (Continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $9.88 | $10.00 | $9.74 | $9.04 | $9.95 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.12 | 0.09 | 0.11 | 0.16 | 0.13 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (1.55) | 0.60 | 0.87 | 1.08 | (0.46) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.43) | 0.69 | 0.98 | 1.24 | (0.33) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.13) | (0.24) | (0.23) | (0.18) | (0.17) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.60) | (0.57) | (0.49) | (0.36) | (0.41) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.73) | (0.81) | (0.72) | (0.54) | (0.58) |
|  Net asset value, end of year | $7.72 | $9.88 | $10.00 | $9.74 | $9.04 |
|  Total return | (14.40)% | 7.02% | 10.22% | 13.83% | (3.38)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20846 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29647 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30048 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28781 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27328 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.26 %(j) | 0.25 %(k) | 0.27 %(m) | 0.27 %(n) | 0.28 %(o) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.26% | 0.25% | 0.27% | 0.27% | 0.28% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.36% | 0.92% | 1.15% | 1.61% | 1.29% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.36% | 0.92% | 1.15% | 1.61% | 1.29% |
|  Portfolio turnover rate^ | 10% | 27% | 23% | 13% | 14% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.07% for Class A, 1.07% for Class B and 0.82% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.06% for Class A, 1.06% for Class B and 0.81% for Class K.* 

*(m)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.09% for Class A, 1.09% for Class B and 0.84% for Class K.* 

*(n)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.08% for Class A, 1.08% for Class B and 0.83% for Class K.* 

*(o)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.10% for Class A, 1.10% for Class B and 0.85% for Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**EQ/MODERATE ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g82a53.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class A Shares | (15.47)% | 2.33% | 4.25 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (15.48) | 2.33 | 4.25 |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (15.24) | 2.58 | 4.51 |  |
| &nbsp;&nbsp;&nbsp; EQ/Moderate Allocation Index | (13.60) | 3.14 | 5.04 |  |
| &nbsp;&nbsp;&nbsp; S&P 500<sup>®</sup> Index | (18.11) | 9.42 | 12.56 |  |
| &nbsp;&nbsp;&nbsp; Bloomberg U.S. Intermediate Government Bond Index | (7.73) | 0.46 | 0.69 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | <br>|

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (15.48)% for the year ended December 31, 2022. This compares to the returns of the following benchmarks over the same period: the EQ/Moderate Allocation Index, the S&P 500<sup>®</sup> Index and the Bloomberg U.S. Intermediate Government Bond Index, which returned (13.60)%, (18.11)% and (7.73)%, respectively.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. In the equity market, companies with lower valuations and higher dividends did relatively well, and among bonds, short-term government issues and corporate bonds (with bigger coupons) also mitigated some of the losses.

Against this backdrop, the Portfolio underperformed its combination benchmark.

***What helped performance during the year?***

• From an asset-allocation perspective, with the broad bond market down 13.1% (Bloomberg U.S. Aggregate Bond Index) and the
stock market down 18.1% (S&P 500 Index), holding 80% of the assets in fixed-income funds provided a cushion against what would have been bigger losses from an all-stock portfolio. The Portfolio's bond
holdings produced only about 40% of the negative total return.

• Among individual bond markets, the Portfolio's very short-term bonds and its high-yield holdings outperformed the
broad market. Among equity markets, holdings in large, middle and small capitalization U.S. equities, as well as international equities, provided a buffer against more extreme losses in the broad market. An equity-income strategy contributed
positively, and other value-style holdings were roughly flat for the year.

• The Portfolio owned a number of actively managed portfolios that outperformed their benchmarks, including 1290 VT High
Yield Bond, Multimanager Core Bond and EQ/Core Plus Bond. Equity portfolios that outperformed their benchmarks (by more than 10 percentage points) included 1290 VT Equity Income, 1290 VT Small Cap Value, EQ/American Century Mid Cap Value, and
EQ/Janus Enterprise.

***What hurt performance during the year?***

• In the bond markets, the Portfolio's long-duration and high-quality bonds provided the most substantial drag on
returns. These are the bonds that get hurt the worst by rising interest rates and have the least cushion from coupons. On the equity side, the contribution to losses was most evident in a number of managed-volatility portfolios that employ a
strategy that sometimes results in underperformance when volatility is high, but equities are rising, as happened at several points in the year.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged the broader market.
Equity portfolios that struggled against their benchmarks in 2022 included EQ/Morgan Stanley Small Cap Growth (by a considerable margin), EQ/T.RowePrice Growth Stock and EQ/ClearBridge Select Equity Managed Volatility.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; Equity | 51.0% |
| &nbsp;&nbsp;&nbsp; Fixed Income | 49.0 |

---

------

**EQ/MODERATE ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Top 10 Holdings** (as a percentage of Total Investments in<br>Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Top 10 Holdings** (as a percentage of Total Investments in<br>Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; ATM Large Cap Managed Volatility Portfolio | 11.4% |
| &nbsp;&nbsp;&nbsp; EQ/Intermediate Government Bond Portfolio | 10.8 |
| &nbsp;&nbsp;&nbsp; EQ/Core Bond Index Portfolio | 8.1 |
| &nbsp;&nbsp;&nbsp; EQ/Long-Term Bond Portfolio | 7.7 |
| &nbsp;&nbsp;&nbsp; ATM International Managed Volatility Portfolio | 6.5 |
| &nbsp;&nbsp;&nbsp; Multimanager Core Bond Portfolio | 4.8 |
| &nbsp;&nbsp;&nbsp; EQ/PIMCO Ultra Short Bond Portfolio | 4.7 |
| &nbsp;&nbsp;&nbsp; ATM Small Cap Managed Volatility Portfolio | 4.0 |
| &nbsp;&nbsp;&nbsp; 1290 VT DoubleLine Opportunistic Bond Portfolio | 3.6 |
| &nbsp;&nbsp;&nbsp; EQ/Quality Bond PLUS Portfolio | 3.2 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class A and Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses**<br> **Paid**<br> **During**<br> **Period\***<br> **7/1/22 -**<br> **12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class A** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $1003.30 | $2.52 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.69 | 2.54 |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1004.20 | 2.52 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.69 | 2.54 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1005.10 | 1.26 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.95 | 1.27 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.50%, 0.50% and 0.25%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.50%, 0.50% and 0.25%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.50%, 0.50% and 0.25%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.50%, 0.50% and 0.25%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |
|  **Equity (51.0%)** | **Equity (51.0%)** | **Equity (51.0%)** |
|  1290 VT Equity Income Portfolio‡ | 13921865 | $69092136 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 857347 | 53353115 |
|  1290 VT Micro Cap Portfolio‡ | 4605753 | 37572786 |
|  1290 VT Small Cap Value Portfolio‡ | 3880209 | 42957478 |
|  ATM International Managed Volatility Portfolio‡ | 38649239 | 357900322 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 50151272 | 631093151 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 12952603 | 92054000 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 23166251 | 220166761 |
|  EQ/AB Small Cap Growth Portfolio‡ | 8299765 | 118589295 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 1044404 | 22441773 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 12171876 | 98671668 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio‡ | 2754833 | 35181965 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 8796072 | 122924051 |
|  EQ/International Core Managed Volatility Portfolio‡ | 9196739 | 89286517 |
|  EQ/International Equity Index Portfolio‡ | 736319 | 6823979 |
|  EQ/International Value Managed Volatility Portfolio‡ | 10786957 | 126613158 |
|  EQ/Janus Enterprise Portfolio\*‡ | 1943448 | 37631558 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 3650076 | 66558343 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 13736387 | 130490508 |
|  EQ/Large Cap Growth Index Portfolio‡ | 402301 | 6594340 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 5329113 | 89289726 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 8311579 | 62303926 |
|  EQ/MFS International Growth Portfolio‡ | 22070481 | 147945624 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 10175065 | 56837621 |
|  EQ/T. Rowe Price Growth Stock Portfolio\*‡ | 891736 | 41702520 |
|  EQ/Value Equity Portfolio‡ | 3574477 | 66431064 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 2830507385 |
|  **Fixed Income (48.9%)** |  |  |
|  1290 Diversified Bond Fund‡ | 13127141 | 118144273 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 23619272 | 199026841 |
|  1290 VT High Yield Bond Portfolio‡ | 6431903 | 53001634 |
|  EQ/Core Bond Index Portfolio‡ | 50154762 | 450956691 |
|  EQ/Core Plus Bond Portfolio‡ | 48966278 | 168580313 |
|  EQ/Intermediate Government Bond Portfolio‡ | 63486598 | 596945478 |
|  EQ/Long-Term Bond Portfolio‡ | 61934844 | 428861785 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 27200475 | 260930476 |
|  EQ/Quality Bond PLUS Portfolio‡ | 23275766 | 176096621 |
|  Multimanager Core Bond Portfolio‡ | 31478534 | 265522745 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 2718066857 |
|  **Total Investments in Securities (99.9%)**<br> *(Cost $5,576,005,330)* |  | 5548574242 |
|  **Other Assets Less Liabilities (0.1%)** |  | 5048630 |
|  **Net Assets (100%)** |  | $5553622872 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds**<br>**from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 VT Equity Income Portfolio | 13921865 | 90607250 | 5146825 | (23885062) | 5353536 | (8130413) | 69092136 | 1405459 | 3732206 |
|  1290 VT GAMCO Small Company Value Portfolio | 857347 | 72373468 | 3080179 | (11708049) | 3442740 | (13835223) | 53353115 | 427018 | 2645834 |
|  1290 VT Micro Cap Portfolio | 4605753 | 50062992 | 6776533 | (5031037) | 4959 | (14240661) | 37572786 | 166735 | 1104301 |
|  1290 VT Small Cap Value Portfolio | 3880209 | 54317814 | 3934421 | (11331037) | 813139 | (4776859) | 42957478 | 285852 | 3643073 |
|  ATM International Managed Volatility Portfolio | 38649239 | 432869739 | 45001776 | (48571285) | (139849) | (71260059) | 357900322 | 10009644 |  |
|  ATM Large Cap Managed Volatility Portfolio | 50151272 | 926152708 | 61204469 | (133043606) | (695565) | (222524855) | 631093151 | 7172154 | 36692557 |
|  ATM Mid Cap Managed Volatility Portfolio | 12952603 | 96490805 | 25147316 | (10385062) | 35174 | (19234233) | 92054000 | 979855 | 2658302 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds**<br>**from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  ATM Small Cap Managed Volatility Portfolio | 23166251 | 295253434 | 33833742 | (37509210) | (304662) | (71106543) | 220166761 | 2290299 | 4212304 |
|  EQ/AB Small Cap Growth Portfolio | 8299765 | 128191455 | 45883113 | (13416099) | (32512) | (42036662) | 118589295 | 482320 | 4886139 |
|  EQ/American Century Mid Cap Value Portfolio | 1044404 | 22134903 | 6351200 | (2777012) | (20863) | (3246455) | 22441773 | 709396 | 2289973 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 12171876 | 132075537 | 14482907 | (11739087) | (321064) | (35826625) | 98671668 | 663793 | 306290 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio | 2754833 | 48118412 | 1511397 | (5031037) | 33952 | (9450759) | 35181965 | 259975 | 1245925 |
|  EQ/Global Equity Managed Volatility Portfolio | 8796072 | 155362736 | 16744370 | (13416099) | (99405) | (35667551) | 122924051 | 786418 | 3443298 |
|  EQ/International Core Managed Volatility Portfolio | 9196739 | 106968905 | 8257646 | (10062074) | (710268) | (15167692) | 89286517 | 1351058 | 695597 |
|  EQ/International Equity Index Portfolio | 736319 | 7727140 | 185062 |  |  | (1088223) | 6823979 | 185062 |  |
|  EQ/International Value Managed Volatility Portfolio | 10786957 | 146781985 | 15911198 | (13416099) | 41196 | (22705122) | 126613158 | 2337165 | 1059379 |
|  EQ/Janus Enterprise Portfolio\* | 1943448 | 37355919 | 11872795 | (3354025) | 5720 | (8248851) | 37631558 |  | 2519130 |
|  EQ/JPMorgan Value Opportunities Portfolio | 3650076 | 86508065 | 6093416 | (20535062) | 1479108 | (6987184) | 66558343 | 878213 | 5206045 |
|  EQ/Large Cap Core Managed Volatility Portfolio | 13736387 | 206121333 | 13386914 | (40127136) | 2695948 | (51586551) | 130490508 | 380687 | 12986077 |
|  EQ/Large Cap Growth Index Portfolio | 402301 | 9335494 | 553588 |  |  | (3294742) | 6594340 | 35257 | 518332 |
|  EQ/Large Cap Value Managed Volatility Portfolio | 5329113 | 144692073 | 5047091 | (40616099) | 15680508 | (35513847) | 89289726 | 1430176 | 3602261 |
|  EQ/Loomis Sayles Growth Portfolio\* | 8311579 | 72550219 | 24438164 | (6708049) | (138402) | (27838006) | 62303926 |  | 7680838 |
|  EQ/MFS International Growth Portfolio | 22070481 | 177869935 | 20119641 | (16770124) | (383540) | (32890288) | 147945624 | 1685833 | 5915490 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 10175065 | 84498493 | 22533791 | (10062074) | 56511 | (40189100) | 56837621 | 7583 | 515219 |
|  EQ/T. Rowe Price Growth Stock Portfolio\* | 891736 | 37075497 | 27978099 | (3354025) | (52884) | (19944167) | 41702520 |  | 1224434 |
|  EQ/Value Equity Portfolio | 3574477 | 91408030 | 7413714 | (16985062) | (1176441) | (14229177) | 66431064 | 916069 | 1488485 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 13127141 | 123565947 | 13755351 |  |  | (19177025) | 118144273 | 3855350 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 23619272 | 248383769 | 18735415 | (29478173) | (720604) | (37893566) | 199026841 | 6981790 | 227979 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds**<br>**from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  1290 VT High Yield Bond Portfolio | 6431903 | 61904497 | 5219505 | (5031037) | (75212) | (9016119) | 53001634 | 3014010 |  |
|  EQ/Core Bond Index Portfolio | 50154762 | 627613726 | 29024449 | (145024458) | 1986065 | (62643091) | 450956691 | 8794932 | 1261740 |
|  EQ/Core Plus Bond Portfolio | 48966278 | 207608116 | 9882642 | (18447135) | (1297489) | (29165821) | 168580313 | 4709674 | 152823 |
|  EQ/Intermediate Government Bond Portfolio | 63486598 | 813897129 | 32747697 | (185244582) | (1125461) | (63329305) | 596945478 | 7381704 | 579898 |
|  EQ/Long-Term Bond Portfolio | 61934844 | 628931856 | 44893869 | (63726470) | (7253812) | (173983658) | 428861785 | 14753385 | 320876 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 27200475 | 328546784 | 4535975 | (66009210) | (3122066) | (3021007) | 260930476 | 4265308 | 239528 |
|  EQ/Quality Bond PLUS Portfolio | 23275766 | 209934838 | 15971380 | (26624149) | (205295) | (22980153) | 176096621 | 1677282 | 1322116 |
|  Multimanager Core Bond Portfolio | 31478534 | 328384440 | 20344942 | (36686223) | (750714) | (45769700) | 265522745 | 7311970 |  |
|  **Total** |  | **7291675443** | **628000592** | **(1086104948)** | **13002448** | **(1297999293)** | **5548574242** | **97591426** | **114376449** |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $118144273 | $5430429969 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $5548574242 |
|  **Total Assets** | $**118144273** | $**5430429969** | $**—** | $**5548574242** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**118144273** | $**5430429969** | $**—** | $**5548574242** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $628000592 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086104948 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $525385994 |
|  Aggregate gross unrealized depreciation | (576897758) |
|  Net unrealized depreciation | $(51511764) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600086006 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $5,576,005,330) | $5548574242.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 6792901.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for securities sold | 1243453.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 519285.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 26109.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 5557155990.0 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 1134249.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 806278.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 624029.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 441330.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class A | 340562.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | 324.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 186346.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 3533118.0 |
|  **NET ASSETS** | $5553622872.0 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $5533642462.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 19980410.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $5553622872.0 |
|  **Class A** |  |
|  Net asset value, offering and redemption price per share, $1,579,281,540 / 142,357,201 shares outstanding (unlimited amount authorized: $0.01 par value) | $11.09 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $3,726,400,680 / 339,705,662 shares outstanding (unlimited amount authorized: $0.01 par value) | $10.97 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $247,940,652 / 22,337,218 shares outstanding (unlimited amount authorized: $0.01 par value) | $11.1 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** | **INVESTMENT INCOME** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $97591426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 70557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 97661983 |
|  **EXPENSES** | **EXPENSES** |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 10374330 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 7563209 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 5731033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class A | 4298125 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 587447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 280667 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 215000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 192074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 116069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | 29357954 |
|  **NET INVESTMENT INCOME (LOSS)** | 68304029 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities ($13,002,448 realized gain (loss) from affiliates) | 13047405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 114376449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 127423854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (1297999293) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (1170575439) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(1102271410) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $68304029 | $52418111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 127423854 | 744570550 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (1297999293) | (195165008) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (1102271410) | 601823653 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (150721300) | (169750986) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (362590895) | (421077197) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (24300699) | (27425938) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (537612894) | (618254121) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 1,938,469 and 2,211,433 shares, respectively ] | 24038636 | 33664802 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 13,599,769 and 11,636,985 shares, respectively ] | 150721300 | 169750986 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (12771691) and (11926538) shares, respectively ] | (159407590) | (182182799) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class A transactions | 15352346 | 21232989 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 9,177,858 and 9,842,348 shares, respectively ] | 114532295 | 148564322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 33,081,827 and 29,155,773 shares, respectively ] | 362590895 | 421077197 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (48276334) and (41480844) shares, respectively ] | (597152755) | (626163174) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | (120029565) | (56521655) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 755,358 and 668,964 shares, respectively ] | 9514273 | 10210779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 2,187,524 and 1,878,372 shares, respectively ] | 24300699 | 27425938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (2426454) and (2175517) shares, respectively ] | (30678280) | (33169741) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | 3136692 | 4466976 |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | (101540527) | (30821690) |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (1741424831) | (47252158) |
|  **NET ASSETS:** | **NET ASSETS:** | **NET ASSETS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 7295047703 | 7342299861 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $5553622872 | $7295047703 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class A** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $14.48 | $14.57 | $14.06 | $12.96 | $14.41 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.14 | 0.11 | 0.12 | 0.19 | 0.17 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.40) | 1.09 | 1.44 | 1.80 | (0.84) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.26) | 1.20 | 1.56 | 1.99 | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.15) | (0.39) | (0.31) | (0.23) | (0.22) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.98) | (0.90) | (0.74) | (0.66) | (0.56) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.13) | (1.29) | (1.05) | (0.89) | (0.78) |
|  Net asset value, end of year | $11.09 | $14.48 | $14.57 | $14.06 | $12.96 |
|  Total return | (15.47)% | 8.35% | 11.32% | 15.49% | (4.73)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1579282 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021935 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005206 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955663 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843864 |
|  Ratio of expenses to average net assets (f) | 0.49 %(j) | 0.48 %(k) | 0.49 %(m) | 0.49 %(m) | 0.50 %(n) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 1.12% | 0.70% | 0.89% | 1.35% | 1.16% |
|  Portfolio turnover rate^ | 10% | 25% | 22% | 13% | 12% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $14.34 | $14.43 | $13.94 | $12.85 | $14.30 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.14 | 0.10 | 0.12 | 0.18 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.38) | 1.10 | 1.42 | 1.80 | (0.83) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.24) | 1.20 | 1.54 | 1.98 | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.15) | (0.39) | (0.31) | (0.23) | (0.22) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.98) | (0.90) | (0.74) | (0.66) | (0.56) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.13) | (1.29) | (1.05) | (0.89) | (0.78) |
|  Net asset value, end of year | $10.97 | $14.34 | $14.43 | $13.94 | $12.85 |
|  Total return | (15.48)% | 8.43% | 11.27% | 15.55% | (4.77)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $3726401 | $4956863 | $5024535 | $4997804 | $4820681 |
|  Ratio of expenses to average net assets (f) | 0.49 %(j) | 0.48 %(k) | 0.49 %(m) | 0.49 %(m) | 0.50 %(n) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 1.09% | 0.69% | 0.88% | 1.33% | 1.14% |
|  Portfolio turnover rate^ | 10% | 25% | 22% | 13% | 12% |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS (Continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $14.49 | $14.57 | $14.07 | $12.96 | $14.42 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.17 | 0.14 | 0.16 | 0.23 | 0.20 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.40) | 1.11 | 1.42 | 1.80 | (0.84) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.23) | 1.25 | 1.58 | 2.03 | (0.64) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.18) | (0.43) | (0.34) | (0.26) | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.98) | (0.90) | (0.74) | (0.66) | (0.56) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.16) | (1.33) | (1.08) | (0.92) | (0.82) |
|  Net asset value, end of year | $11.10 | $14.49 | $14.57 | $14.07 | $12.96 |
|  Total return | (15.24)% | 8.68% | 11.49% | 15.85% | (4.54)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247941 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316250 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312558 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304750 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277542 |
|  Ratio of expenses to average net assets (f) | 0.24 %(j) | 0.23 %(k) | 0.24 %(m) | 0.24 %(m) | 0.25 %(n) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 1.38% | 0.95% | 1.13% | 1.61% | 1.41% |
|  Portfolio turnover rate^ | 10% | 25% | 22% | 13% | 12% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.07% for Class A, 1.07% for Class B and 0.82% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.06% for Class A, 1.06% for Class B and 0.81% for Class K.* 

*(m)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.08% for Class A, 1.08% for Class B and 0.83% for Class K.* 

*(n)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.09% for Class A, 1.09% for Class B and 0.84% for Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**EQ/MODERATE-PLUS ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g94v04.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class A Shares | (17.00)% | 3.58% | 6.08 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (17.08) | 3.58 | 6.07 |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (16.86) | 3.83 | 6.34 |  |
| &nbsp;&nbsp;&nbsp; EQ/Moderate-Plus Allocation Index | (14.88) | 4.38 | 6.91 |  |
| &nbsp;&nbsp;&nbsp; S&P 500<sup>®</sup> Index | (18.11) | 9.42 | 12.56 |  |
| &nbsp;&nbsp;&nbsp; Bloomberg U.S. Intermediate Government Bond Index | (7.73) | 0.46 | 0.69 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (17.08)% for the year ended December 31, 2022. This compares to the returns of the following benchmarks over the same period: the EQ/Moderate-Plus Allocation Index, the S&P 500<sup>®</sup> Index and the Bloomberg U.S. Intermediate Government Bond Index, which returned (14.88)%, (18.11)% and (7.73)%, respectively.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. In the equity market, companies with lower valuations and higher dividends did relatively well, and among bonds, short-term government issues and corporate bonds (with bigger coupons) also mitigated some of the losses.

Against this backdrop, the Portfolio underperformed its combination benchmark.

***What helped performance during the year?***

• From an asset-allocation perspective, with the broad bond market down 13.1% (Bloomberg U.S. Aggregate Bond Index) and the
stock market down 18.1% (S&P 500 Index), holding 80% of the assets in fixed-income funds provided a cushion against what would have been bigger losses from an all-stock portfolio. The Portfolio's
equity holdings produced about 80% of the negative total return.

• Among equity markets, holdings in large, middle and small capitalization U.S. equities, as well as international equities,
provided a buffer against more extreme losses in the broad market. An equity-income strategy contributed positively, and other value-style holdings were roughly flat for the year. Among individual bond markets, the Portfolio's very short-term
bonds and its high-yield holdings outperformed the broad market.

• The Portfolio owned a number of actively managed equity portfolios that outperformed their benchmarks (by more than 10
percentage points) included 1290 VT Equity Income, 1290 VT Small Cap Value, EQ/American Century Mid Cap Value, and EQ/Janus Enterprise. Fixed-income portfolios that outperformed their benchmarks included 1290 VT High Yield Bond, Multimanager Core
Bond and EQ/Core Plus Bond.

***What hurt performance during the year?***

• In the equity markets, the contribution to losses was most evident in a number of managed-volatility portfolios that employ
a strategy that sometimes results in underperformance when volatility is high, but equities are rising, as happened at several points in the year. In addition, small-cap growth holdings were particularly hard
hit by the downturn. In the bond markets, the Portfolio's global bonds, along with long-duration and high-quality bonds, provided the most substantial drag on returns. The latter category includes domestic bonds that get hurt the worst by
rising interest rates and have the least cushion from coupons.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged the broader market.
Equity portfolios that struggled against their benchmarks in 2022 included EQ/Morgan Stanley Small Cap Growth (by a considerable margin), EQ/T. Rowe Price Growth Stock and EQ/ClearBridge Select Equity Managed Volatility.

------

**EQ/MODERATE-PLUS ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; Equity | 71.3% |
| &nbsp;&nbsp;&nbsp; Fixed Income | 28.7 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Top 10 Holdings** (as a percentage of Total Investments in<br>Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Top 10 Holdings** (as a percentage of Total Investments in<br>Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; ATM Large Cap Managed Volatility Portfolio | 16.2% |
| &nbsp;&nbsp;&nbsp; ATM International Managed Volatility Portfolio | 8.4 |
| &nbsp;&nbsp;&nbsp; ATM Small Cap Managed Volatility Portfolio | 6.7 |
| &nbsp;&nbsp;&nbsp; EQ/Intermediate Government Bond Portfolio | 6.0 |
| &nbsp;&nbsp;&nbsp; EQ/Long-Term Bond Portfolio | 5.1 |
| &nbsp;&nbsp;&nbsp; EQ/Core Bond Index Portfolio | 4.5 |
| &nbsp;&nbsp;&nbsp; EQ/Large Cap Core Managed Volatility Portfolio | 3.6 |
| &nbsp;&nbsp;&nbsp; EQ/MFS International Growth Portfolio | 3.5 |
| &nbsp;&nbsp;&nbsp; EQ/AB Small Cap Growth Portfolio | 3.3 |
| &nbsp;&nbsp;&nbsp; EQ/Global Equity Managed Volatility Portfolio | 2.9 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class A and Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses**<br> **Paid**<br> **During**<br> **Period\***<br> **7/1/22 -**<br> **12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class A** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $1016.60 | $2.50 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.72 | 2.51 |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1016.60 | 2.50 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.72 | 2.51 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1017.10 | 1.23 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.99 | 1.23 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.49%, 0.49% and 0.24%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.49%, 0.49% and 0.24%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.49%, 0.49% and 0.24%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.49%, 0.49% and 0.24%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |
|  **Equity (71.2%)** | **Equity (71.2%)** | **Equity (71.2%)** |
|  1290 VT Equity Income Portfolio‡ | 27792344 | $137929255 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 1888668 | 117532660 |
|  1290 VT Micro Cap Portfolio‡ | 8447202 | 68910541 |
|  1290 VT Small Cap Value Portfolio‡ | 7026854 | 77793729 |
|  ATM International Managed Volatility Portfolio‡ | 62541849 | 579151061 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 88837949 | &nbsp;&nbsp;&nbsp;&nbsp;1117918233 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 14505520 | 103090568 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 48965101 | 465353133 |
|  EQ/AB Small Cap Growth Portfolio‡ | 15902471 | 227218817 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 1138443 | 24462457 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 19249524 | 156046830 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio‡ | 5923367 | 75647296 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 14448651 | 201918168 |
|  EQ/International Core Managed Volatility Portfolio‡ | 14436172 | 140153543 |
|  EQ/International Equity Index Portfolio‡ | 728535 | 6751836 |
|  EQ/International Value Managed Volatility Portfolio‡ | 16489473 | 193547096 |
|  EQ/Janus Enterprise Portfolio\*‡ | 2086149 | 40394727 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 6687843 | 121951368 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 26416512 | 250946927 |
|  EQ/Large Cap Growth Index Portfolio‡ | 445930 | 7309486 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 10591066 | 177454184 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 13110358 | 98275760 |
|  EQ/MFS International Growth Portfolio‡ | 36199434 | 242656594 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 19095346 | 106666057 |
|  EQ/T. Rowe Price Growth Stock Portfolio\*‡ | 1266580 | 59232289 |
|  EQ/Value Equity Portfolio‡ | 7134331 | 132590336 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 4930902951 |
|  **Fixed Income (28.7%)** | **Fixed Income (28.7%)** | **Fixed Income (28.7%)** |
|  1290 Diversified Bond Fund‡ | 9564429 | 86079865 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 17284373 | 145646071 |
|  1290 VT High Yield Bond Portfolio‡ | 4589123 | 37816339 |
|  EQ/Core Bond Index Portfolio‡ | 34871054 | 313536228 |
|  EQ/Core Plus Bond Portfolio‡ | 33418838 | 115053840 |
|  EQ/Intermediate Government Bond Portfolio‡ | 44425412 | 417718846 |
|  EQ/Long-Term Bond Portfolio‡ | 50857042 | 352154623 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 20099510 | 192811878 |
|  EQ/Quality Bond PLUS Portfolio‡ | 17122789 | 129545266 |
|  Multimanager Core Bond Portfolio‡ | 23062501 | 194533157 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 1984896113 |
|  **Total Investments in Securities (99.9%)**<br> *(Cost $6,515,958,963)* |  | 6915799064 |
|  **Other Assets Less Liabilities (0.1%)** |  | 5865289 |
|  **Net Assets (100%)** |  | $&nbsp;&nbsp;&nbsp;&nbsp;6921664353 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 VT Equity Income Portfolio | 27792344 | 161472570 | 10280962 | (27912863) | 3896027 | (9807441) | 137929255 | 2803755 | 7445390 |
|  1290 VT GAMCO Small Company Value Portfolio | 1888668 | 156148445 | 6874226 | (22412863) | 5529830 | (28606978) | 117532660 | 940566 | 5901842 |
|  1290 VT Micro Cap Portfolio | 8447202 | 95072547 | 8837314 | (8350208) | 62383 | (26711495) | 68910541 | 305545 | 2013587 |
|  1290 VT Small Cap Value Portfolio | 7026854 | 95517601 | 7138274 | (17750208) | 895452 | (8007390) | 77793729 | 517427 | 6602666 |
|  ATM International Managed Volatility Portfolio | 62541849 | 727296192 | 40672397 | (66801661) | 204176 | (122220043) | 579151061 | 16226946 |  |
|  ATM Large Cap Managed Volatility Portfolio | 88837949 | 1583013021 | 77090820 | (154728425) | (4008164) | (383449019) | 1117918233 | 12700276 | 64090553 |
|  ATM Mid Cap Managed Volatility Portfolio | 14505520 | 107257298 | 28398159 | (10437760) | (1522) | (22125607) | 103090568 | 1097732 | 2977699 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  ATM Small Cap Managed Volatility Portfolio | 48965101 | 657170015 | 28137305 | (62751453) | 544566 | (157747300) | 465353133 | 4839764 | 8870272 |
|  EQ/AB Small Cap Growth Portfolio | 15902471 | 281247217 | 62137979 | (27138175) | (110398) | (88917806) | 227218817 | 924315 | 9354574 |
|  EQ/American Century Mid Cap Value Portfolio | 1138443 | 23660066 | 6404308 | (2087552) | 9864 | (3524229) | 24462457 | 769022 | 2480739 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 19249524 | 207668379 | 24086898 | (18787967) | (532476) | (56388004) | 156046830 | 1049767 | 496224 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio | 5923367 | 100614417 | 3233970 | (8350208) | 15493 | (19866376) | 75647296 | 558202 | 2657587 |
|  EQ/Global Equity Managed Volatility Portfolio | 14448651 | 282470831 | 7066165 | (22963071) | 541577 | (65197334) | 201918168 | 1292763 | 5723405 |
|  EQ/International Core Managed Volatility Portfolio | 14436172 | 174685618 | 8792235 | (16700415) | (1154252) | (25469643) | 140153543 | 2124568 | 1131304 |
|  EQ/International Equity Index Portfolio | 728535 | 7645449 | 183106 |  |  | (1076719) | 6751836 | 183105 |  |
|  EQ/International Value Managed Volatility Portfolio | 16489473 | 195696684 | 49689470 | (22963071) | 91985 | (28967972) | 193547096 | 3561066 | 1578405 |
|  EQ/Janus Enterprise Portfolio\* | 2086149 | 46195419 | 8365315 | (4175104) | 3388 | (9994291) | 40394727 |  | 2706225 |
|  EQ/JPMorgan Value Opportunities Portfolio | 6687843 | 157297588 | 11170491 | (35962863) | 1847975 | (12401823) | 121951368 | 1608582 | 9530092 |
|  EQ/Large Cap Core Managed Volatility Portfolio | 26416512 | 397042661 | 25286697 | (79150830) | 6993245 | (99224846) | 250946927 | 731800 | 24482172 |
|  EQ/Large Cap Growth Index Portfolio | 445930 | 10347914 | 613624 |  |  | (3652052) | 7309486 | 39080 | 574544 |
|  EQ/Large Cap Value Managed Volatility Portfolio | 10591066 | 267302946 | 10070731 | (61163071) | 19473444 | (58229866) | 177454184 | 2839672 | 7181060 |
|  EQ/Loomis Sayles Growth Portfolio\* | 13110358 | 124660553 | 32599650 | (12525311) | (307318) | (46151814) | 98275760 |  | 12322379 |
|  EQ/MFS International Growth Portfolio | 36199434 | 310395084 | 17549306 | (27138175) | (763047) | (57386574) | 242656594 | 2767776 | 9722442 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 19095346 | 179497975 | 27818131 | (18787967) | 171134 | (82033216) | 106666057 | 14174 | 963048 |
|  EQ/T. Rowe Price Growth Stock Portfolio\* | 1266580 | 69156834 | 29368785 | (6262656) | (139984) | (32890690) | 59232289 |  | 1855149 |
|  EQ/Value Equity Portfolio | 7134331 | 166871948 | 10822598 | (15612863) | (1185417) | (28305930) | 132590336 | 1827070 | 2963711 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 9564429 | 89059316 | 10791488 |  |  | (13770939) | 86079865 | 2791488 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 17284373 | 183442960 | 12210479 | (21700415) | (654426) | (27652527) | 145646071 | 5108194 | 165922 |
|  1290 VT High Yield Bond Portfolio | 4589123 | 46582274 | 5960798 | (8175104) | (102400) | (6449229) | 37816339 | 2151707 |  |
|  EQ/Core Bond Index Portfolio | 34871054 | 456896254 | 17281006 | (117238590) | 1921510 | (45323952) | 313536228 | 6114907 | 870647 |
|  EQ/Core Plus Bond Portfolio | 33418838 | 121815199 | 26847852 | (14612863) | (574914) | (18421434) | 115053840 | 3215791 | 100246 |
|  EQ/Intermediate Government Bond Portfolio | 44425412 | 595113577 | 18691345 | (149763901) | (523247) | (45798928) | 417718846 | 5165632 | 402989 |
|  EQ/Long-Term Bond Portfolio | 50857042 | 533063990 | 23290056 | (52188798) | (7337597) | (144673028) | 352154623 | 12113418 | 263006 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds**<br>**from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  EQ/PIMCO Ultra Short Bond Portfolio | 20099510 | 246333739 | 3367883 | (52287967) | (1568719) | (3033058) | 192811878 | 3150076 | 176902 |
|  EQ/Quality Bond PLUS Portfolio | 17122789 | 155563089 | 10296094 | (19612863) | (386857) | (16314197) | 129545266 | 1233625 | 930653 |
|  Multimanager Core Bond Portfolio | 23062501 | 244436262 | 10448753 | (25875519) | (787229) | (33689110) | 194533157 | 5403300 |  |
|  **Total** |  | **9257711932** | **681874670** | **(1212370760)** | **22064082** | **(1833480860)** | **6915799064** | **106171111** | **196535434** |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** | **Assets:** | **Assets:** | **Assets:** |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $86079865 | $6829719199 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $6915799064 |
|  **Total Assets** | $**86079865** | $**6829719199** | $**—** | $**6915799064** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**86079865** | $**6829719199** | $**—** | $**6915799064** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $681874670 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212370760 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $853009319 |
|  Aggregate gross unrealized depreciation | (520683024) |
|  Net unrealized appreciation | $332326295 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6583472769 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** | **ASSETS** |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $6,515,958,963) | $6915799064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 8559281 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for securities sold | 1086442 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 1031111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 32579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 6926508477 |
|  **LIABILITIES** | **LIABILITIES** |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 1822319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 1446469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 778556 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 545360 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class A | 39652 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | 357 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 211411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 4844124 |
|  **NET ASSETS** | $6921664353 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $6468014653 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 453649700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $6921664353 |
|  **Class A** |  |
|  Net asset value, offering and redemption price per share, $184,328,135 / 21,773,885 shares outstanding (unlimited amount authorized: $0.01 par value) | $8.47 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $6,684,717,611 / 789,204,294 shares outstanding (unlimited amount authorized: $0.01 par value) | $8.47 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $52,618,607 / 6,210,782 shares outstanding (unlimited amount authorized: $0.01 par value) | $8.47 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** | **INVESTMENT INCOME** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $106171111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 83840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 106254951 |
|  **EXPENSES** | **EXPENSES** |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 18513141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 9440580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 7065940 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 592856 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class A | 498507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 323786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 247090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 203800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 143707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | 37029407 |
|  **NET INVESTMENT INCOME (LOSS)** | 69225544 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | 22064082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 196535434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 218599516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (1833480860) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (1614881344) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(1545655800) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $69225544 | $58947444 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 218599516 | 1227350396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (1833480860) | (174528990) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (1545655800) | 1111768850 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (22410116) | (25365679) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (818001095) | (962258649) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (6474363) | (7191561) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (846885574) | (994815889) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 720,577 and 846,754 shares, respectively ] | 7018740 | 10392276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 2,657,088 and 2,171,096 shares, respectively ] | 22410116 | 25365679 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (2162280) and (1637363) shares, respectively ] | (21296529) | (20289732) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class A transactions | 8132327 | 15468223 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 11,202,951 and 10,058,794 shares, respectively ] | 109635551 | 124268695 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 96,936,203 and 82,313,758 shares, respectively ] | 818001095 | 962258649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (90912361) and (82312559) shares, respectively ] | (890675064) | (1014814670) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | 36961582 | 71712674 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 472,029 and 177,907 shares, respectively ] | 4800113 | 2196670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 765,515 and 614,805 shares, respectively ] | 6474363 | 7191561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (692257) and (862627) shares, respectively ] | (6817186) | (10616106) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | 4457290 | (1227875) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | 49551199 | 85953022 |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (2342990175) | 202905983 |
|  **NET ASSETS:** | **NET ASSETS:** | **NET ASSETS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 9264654528 | 9061748545 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $6921664353 | $9264654528 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class A** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $11.60 | $11.51 | $11.09 | $9.99 | $11.49 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.09 | 0.08 | 0.09 | 0.14 | 0.12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.09) | 1.35 | 1.41 | 1.83 | (0.87) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.00) | 1.43 | 1.50 | 1.97 | (0.75) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.10) | (0.42) | (0.27) | (0.17) | (0.18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (1.03) | (0.92) | (0.81) | (0.70) | (0.57) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.13) | (1.34) | (1.08) | (0.87) | (0.75) |
|  Net asset value, end of year | $8.47 | $11.60 | $11.51 | $11.09 | $9.99 |
|  Total return | (17.00)% | 12.68% | 14.05% | 20.01% | (6.84)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184328 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238508 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220775 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212498 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189592 |
|  Ratio of expenses to average net assets (f) | 0.49 %(j) | 0.48 %(k) | 0.49 %(m) | 0.49 %(n) | 0.50 %(o) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 0.92% | 0.65% | 0.79% | 1.26% | 1.01% |
|  Portfolio turnover rate^ | 9% | 23% | 21% | 12% | 11% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $11.61 | $11.52 | $11.09 | $9.99 | $11.49 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.09 | 0.08 | 0.09 | 0.13 | 0.12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.10) | 1.35 | 1.42 | 1.84 | (0.87) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.01) | 1.43 | 1.51 | 1.97 | (0.75) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.10) | (0.42) | (0.27) | (0.17) | (0.18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (1.03) | (0.92) | (0.81) | (0.70) | (0.57) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.13) | (1.34) | (1.08) | (0.87) | (0.75) |
|  Net asset value, end of year | $8.47 | $11.61 | $11.52 | $11.09 | $9.99 |
|  Total return | (17.08)% | 12.67% | 14.13% | 20.01% | (6.84)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6684718 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8960367 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8774906 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8527658 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7894299 |
|  Ratio of expenses to average net assets (f) | 0.49 %(j) | 0.48 %(k) | 0.49 %(m) | 0.49 %(n) | 0.50 %(o) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 0.90% | 0.63% | 0.79% | 1.22% | 1.01% |
|  Portfolio turnover rate^ | 9% | 23% | 21% | 12% | 11% |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/MODERATE-PLUS ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS (Continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $11.61 | $11.52 | $11.09 | $9.99 | $11.49 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.12 | 0.11 | 0.11 | 0.16 | 0.14 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.11) | 1.35 | 1.43 | 1.84 | (0.86) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.99) | 1.46 | 1.54 | 2.00 | (0.72) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.12) | (0.45) | (0.30) | (0.20) | (0.21) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (1.03) | (0.92) | (0.81) | (0.70) | (0.57) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.15) | (1.37) | (1.11) | (0.90) | (0.78) |
|  Net asset value, end of year | $8.47 | $11.61 | $11.52 | $11.09 | $9.99 |
|  Total return | (16.86)% | 12.95% | 14.38% | 20.29% | (6.58)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52619 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65780 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66068 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67291 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62847 |
|  Ratio of expenses to average net assets (f) | 0.24 %(j) | 0.23 %(k) | 0.24 %(m) | 0.24 %(n) | 0.25 %(o) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 1.18% | 0.87% | 0.99% | 1.42% | 1.24% |
|  Portfolio turnover rate^ | 9% | 23% | 21% | 12% | 11% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.10% for Class A, 1.10% for Class B and 0.85% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.09% for Class A, 1.09% for Class B and 0.84% for Class K.* 

*(m)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.12% for Class A, 1.12% for Class B and 0.87% for Class K.* 

*(n)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.11% for Class A, 1.11% for Class B and 0.86% for Class K.* 

*(o)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.13% for Class A, 1.13% for Class B and 0.88% for Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**EQ/AGGRESSIVE ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g85p51.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class A Shares | (18.40)% | 4.62% | 7.77 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (18.31) | 4.64 | 7.78 |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (18.16) | 4.90 | 8.04 |  |
| &nbsp;&nbsp;&nbsp; EQ/Aggressive Allocation Index | (15.95) | 5.67 | 8.82 |  |
| &nbsp;&nbsp;&nbsp; S&P 500<sup>®</sup> Index | (18.11) | 9.42 | 12.56 |  |
| &nbsp;&nbsp;&nbsp; Bloomberg U.S. Intermediate Government Bond Index | (7.73) | 0.46 | 0.69 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (18.31)% for the year ended December 31, 2022. This compares to the returns of the following benchmarks over the same period: the EQ/Aggressive Allocation Index, the S&P 500<sup>®</sup> Index and the Bloomberg U.S. Intermediate Government Bond Index, which returned (15.95)%, (18.11)% and (7.73)%, respectively.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. In the equity market, companies with lower valuations and higher dividends did relatively well, and among bonds, short-term government issues and corporate bonds (with bigger coupons) also mitigated some of the losses.

Against this backdrop, the Portfolio underperformed its combination benchmark.

***What helped performance during the year?***

• From an asset-allocation perspective, with the broad bond market down 13.1% (Bloomberg U.S. Aggregate Bond Index) and the
stock market down 18.1% (S&P 500 Index), holding 80% of the assets in fixed-income funds provided a cushion against what would have been bigger losses from an all-stock portfolio. The Portfolio's
equity holdings produced about 94% of the negative total return.

• Among equity markets, holdings in large-, middle- and small-capitalization U.S. equities, as well as international
equities, provided a buffer against more extreme losses in the broad market. An equity-income strategy contributed positively, while other value-style holdings were roughly flat for the year. Among individual bond markets, the Portfolio's very
short-term bonds and its high-yield holdings outperformed the broad market.

• The Portfolio owned a number of actively managed equity portfolios that outperformed their benchmarks (by more than 10
percentage points) included 1290 VT Equity Income, 1290 VT Small Cap Value, EQ/American Century Mid Cap Value, and EQ/Janus Enterprise. Fixed-income portfolios that outperformed their benchmarks included 1290 VT High Yield Bond, Multimanager Core
Bond and EQ/Core Plus Bond.

***What hurt performance during the year?***

• In the equity markets, the contribution to losses was most evident in a number of managed-volatility portfolios that employ
a strategy that sometimes results in underperformance when volatility is high, but equities are rising, as happened at several points in the year. In addition, small-cap growth holdings were particularly hard
hit by the downturn. In the bond markets, the Portfolio's global bonds, along with long-duration and high-quality bonds, provided the most substantial drag on returns. The latter category includes domestic bonds that get hurt the worst by
rising interest rates and have the least cushion from coupons.

• Equity portfolios that struggled against their benchmarks in 2022 included EQ/Morgan Stanley Small Cap Growth (by a
considerable margin), EQ/T. Rowe Price Growth Stock and EQ/ClearBridge Select Equity Managed Volatility. Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged the broader market.

------

**EQ/AGGRESSIVE ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; Equity | 91.5% |
| &nbsp;&nbsp;&nbsp; Fixed Income | 8.5 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Top 10 Holdings** (as a percentage of Total Investments in<br>Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Top 10 Holdings** (as a percentage of Total Investments in<br>Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; ATM Large Cap Managed Volatility Portfolio | 22.2% |
| &nbsp;&nbsp;&nbsp; ATM International Managed Volatility Portfolio | 10.7 |
| &nbsp;&nbsp;&nbsp; ATM Small Cap Managed Volatility Portfolio | 8.0 |
| &nbsp;&nbsp;&nbsp; EQ/Large Cap Core Managed Volatility Portfolio | 5.2 |
| &nbsp;&nbsp;&nbsp; EQ/MFS International Growth Portfolio | 4.6 |
| &nbsp;&nbsp;&nbsp; EQ/Global Equity Managed Volatility Portfolio | 4.0 |
| &nbsp;&nbsp;&nbsp; EQ/Large Cap Value Managed Volatility Portfolio | 3.6 |
| &nbsp;&nbsp;&nbsp; EQ/International Value Managed Volatility Portfolio | 3.3 |
| &nbsp;&nbsp;&nbsp; EQ/ClearBridge Select Equity Managed Volatility Portfolio | 3.3 |
| &nbsp;&nbsp;&nbsp; EQ/AB Small Cap Growth Portfolio | 3.2 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class A and Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses<br>Paid<br>During<br>Period\*<br>7/1/22 -<br>12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class A** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $1028.00 | $2.56 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.68 | 2.55 |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1029.20 | 2.56 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.68 | 2.55 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1029.80 | 1.28 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.94 | 1.28 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.50%, 0.50% and 0.25%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.50%, 0.50% and 0.25%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.50%, 0.50% and 0.25%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.50%, 0.50% and 0.25%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |
|  **Equity (91.5%)** | **Equity (91.5%)** | **Equity (91.5%)** |
|  1290 VT Equity Income Portfolio‡ | 15273723 | $75801208 |
|  1290 VT GAMCO Small Company Value Portfolio‡ | 1185132 | 73751305 |
|  1290 VT Micro Cap Portfolio‡ | 3816171 | 31131538 |
|  1290 VT Small Cap Value Portfolio‡ | 3371276 | 37323123 |
|  ATM International Managed Volatility Portfolio‡ | 33483740 | 310066679 |
|  ATM Large Cap Managed Volatility Portfolio‡ | 51267107 | 645134591 |
|  ATM Mid Cap Managed Volatility Portfolio‡ | 7324750 | 52056916 |
|  ATM Small Cap Managed Volatility Portfolio‡ | 24412193 | 232007903 |
|  EQ/AB Small Cap Growth Portfolio‡ | 6470333 | 92449869 |
|  EQ/American Century Mid Cap Value Portfolio‡ | 576254 | 12382346 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio‡ | 11717875 | 94991297 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio‡ | 3147342 | 40194695 |
|  EQ/Global Equity Managed Volatility Portfolio‡ | 8397664 | 117356346 |
|  EQ/International Core Managed Volatility Portfolio‡ | 7017759 | 68131896 |
|  EQ/International Equity Index Portfolio‡ | 720125 | 6673895 |
|  EQ/International Value Managed Volatility Portfolio‡ | 8204158 | 96297252 |
|  EQ/Janus Enterprise Portfolio\*‡ | 834686 | 16162278 |
|  EQ/JPMorgan Value Opportunities Portfolio‡ | 3682103 | 67142340 |
|  EQ/Large Cap Core Managed Volatility Portfolio‡ | 15819205 | 150276496 |
|  EQ/Large Cap Growth Index Portfolio‡ | 279412 | 4579992 |
|  EQ/Large Cap Value Managed Volatility Portfolio‡ | 6202031 | 103915545 |
|  EQ/Loomis Sayles Growth Portfolio\*‡ | 6781021 | 50830800 |
|  EQ/MFS International Growth Portfolio‡ | 19918222 | 133518331 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio‡ | 8369466 | 46751601 |
|  EQ/T. Rowe Price Growth Stock Portfolio\*‡ | 544929 | 25483894 |
|  EQ/Value Equity Portfolio‡ | 4065935 | 75564717 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 2659976853 |
|  **Fixed Income (8.4%)** | **Fixed Income (8.4%)** | **Fixed Income (8.4%)** |
|  1290 Diversified Bond Fund‡ | 1180670 | 10626029 |
|  1290 VT DoubleLine Opportunistic Bond Portfolio‡ | 2365811 | 19935413 |
|  1290 VT High Yield Bond Portfolio‡ | 637816 | 5255876 |
|  EQ/Core Bond Index Portfolio‡ | 3975462 | 35744582 |
|  EQ/Core Plus Bond Portfolio‡ | 3937266 | 13555155 |
|  EQ/Intermediate Government Bond Portfolio‡ | 5078413 | 47750798 |
|  EQ/Long-Term Bond Portfolio‡ | 6992488 | 48418803 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 2559437 | 24552331 |
|  EQ/Quality Bond PLUS Portfolio‡ | 2065706 | 15628434 |
|  Multimanager Core Bond Portfolio‡ | 2875674 | 24256431 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 245723852 |
|  **Total Investments in Securities (99.9%)**<br> *(Cost $2,650,110,511)* |  | 2905700705 |
|  **Other Assets Less Liabilities (0.1%)** |  | 1928556 |
|  **Net Assets (100%)** |  | $2907629261 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  1290 VT Equity Income Portfolio | 15273723 | 89367142 | 5702539 | (15886112) | 1196695 | (4579056) | 75801208 | 1539999 | 4089477 |
|  1290 VT GAMCO Small Company Value Portfolio | 1185132 | 88126692 | 4290115 | (5232099) | (337876) | (13095527) | 73751305 | 589243 | 3635927 |
|  1290 VT Micro Cap Portfolio | 3816171 | 42407052 | 4086345 | (3270062) | 8212 | (12100009) | 31131538 | 138043 | 907711 |
|  1290 VT Small Cap Value Portfolio | 3371276 | 40537857 | 3448536 | (3270062) | 23546 | (3416754) | 37323123 | 248217 | 3159728 |
|  ATM International Managed Volatility Portfolio | 33483740 | 375197725 | 24725585 | (26160496) | (2820) | (63693315) | 310066679 | 8700861 |  |
|  ATM Large Cap Managed Volatility Portfolio | 51267107 | 875638883 | 44778879 | (57553091) | (996207) | (216733873) | 645134591 | 7324135 | 36740349 |
|  ATM Mid Cap Managed Volatility Portfolio | 7324750 | 59618413 | 8299186 | (3924074) | 14249 | (11950858) | 52056916 | 554056 | 1496422 |
|  ATM Small Cap Managed Volatility Portfolio | 24412193 | 324810764 | 7075594 | (21582409) | 22003 | (78318049) | 232007903 | 2411484 | 4396212 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  EQ/AB Small Cap Growth Portfolio | 6470333 | 128203208 | 13636826 | (9156173) | 18160 | (40252152) | 92449869 | 376061 | 3797113 |
|  EQ/American Century Mid Cap Value Portfolio | 576254 | 11655278 | 3150300 | (654012) | 9136 | (1778356) | 12382346 | 388630 | 1253553 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 11717875 | 142132157 | 1062213 | (9810186) | (2193183) | (36199704) | 94991297 | 639104 | 301338 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio | 3147342 | 52814794 | 1756042 | (3924074) | (361) | (10451706) | 40194695 | 296670 | 1410664 |
|  EQ/Global Equity Managed Volatility Portfolio | 8397664 | 158984921 | 4166914 | (9156173) | 9325 | (36648641) | 117356346 | 750477 | 3302784 |
|  EQ/International Core Managed Volatility Portfolio | 7017759 | 84047224 | 3569310 | (6540124) | (185345) | (12759169) | 68131896 | 1033055 | 555073 |
|  EQ/International Equity Index Portfolio | 720125 | 7557192 | 180992 |  |  | (1064289) | 6673895 | 180992 |  |
|  EQ/International Value Managed Volatility Portfolio | 8204158 | 105538557 | 15665607 | (9156173) | (14595) | (15736144) | 96297252 | 1770283 | 781670 |
|  EQ/Janus Enterprise Portfolio\* | 834686 | 17754302 | 3597219 | (1308025) | 1814 | (3883032) | 16162278 |  | 1080982 |
|  EQ/JPMorgan Value Opportunities Portfolio | 3682103 | 72630127 | 6197570 | (5886112) | 188517 | (5987762) | 67142340 | 885075 | 5239432 |
|  EQ/Large Cap Core Managed Volatility Portfolio | 15819205 | 221982652 | 14670629 | (33888273) | (2183066) | (50305446) | 150276496 | 437893 | 14054138 |
|  EQ/Large Cap Growth Index Portfolio | 279412 | 6483816 | 384486 |  |  | (2288310) | 4579992 | 24487 | 359999 |
|  EQ/Large Cap Value Managed Volatility Portfolio | 6202031 | 159725779 | 5846449 | (39464198) | 13839295 | (36031780) | 103915545 | 1662250 | 4054310 |
|  EQ/Loomis Sayles Growth Portfolio\* | 6781021 | 76972839 | 6428032 | (5232099) | (85623) | (27252349) | 50830800 |  | 6363087 |
|  EQ/MFS International Growth Portfolio | 19918222 | 169884885 | 7036998 | (11118211) | 22458 | (32307799) | 133518331 | 1525928 | 5373063 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 8369466 | 85917970 | 5856936 | (6540124) | 21450 | (38504631) | 46751601 | 6175 | 419580 |
|  EQ/T. Rowe Price Growth Stock Portfolio\* | 544929 | 23478569 | 17831208 | (2616050) | (76364) | (13133469) | 25483894 |  | 798734 |
|  EQ/Value Equity Portfolio | 4065935 | 95415256 | 2798716 | (5886112) | (637842) | (16125301) | 75564717 | 1040531 | 1685122 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 1180670 | 12148419 | 365428 |  |  | (1887818) | 10626029 | 365428 |  |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 2365811 | 25085220 | 746788 | (1962037) | (145522) | (3789036) | 19935413 | 699266 | 23169 |
|  1290 VT High Yield Bond Portfolio | 637816 | 5840483 | 297722 |  |  | (882329) | 5255876 | 297721 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  EQ/Core Bond Index Portfolio | 3975462 | 49866898 | 850454 | (10024074) | (36498) | (4912198) | 35744582 | 696876 | 104870 |
|  EQ/Core Plus Bond Portfolio | 3937266 | 16947227 | 407483 | (1308025) | (137520) | (2354010) | 13555155 | 378784 | 12463 |
|  EQ/Intermediate Government Bond Portfolio | 5078413 | 65023895 | 703809 | (12682099) | (112735) | (5182072) | 47750798 | 590398 | 48466 |
|  EQ/Long-Term Bond Portfolio | 6992488 | 72818041 | 1765766 | (5232099) | (1035495) | (19897410) | 48418803 | 1664304 | 36517 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 2559437 | 30091180 | 447968 | (5412037) | (92791) | (481989) | 24552331 | 401089 | 22524 |
|  EQ/Quality Bond PLUS Portfolio | 2065706 | 18749366 | 283004 | (1308025) | (59272) | (2036639) | 15628434 | 148762 | 118006 |
|  Multimanager Core Bond Portfolio | 2875674 | 29846836 | 703491 | (1962036) | (97527) | (4234333) | 24256431 | 679137 |  |
|  **Total** |  | **3843301619** | **222815139** | **(337104956)** | **6944218** | **(830255315)** | **2905700705** | **38445414** | **105622483** |

---

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $10626029 | $2895074676 | $— | $2905700705 |
|  **Total Assets** | $**10626029** | $**2895074676** | $**—** | $**2905700705** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**10626029** | $**2895074676** | $**—** | $**2905700705** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $222815139 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337104956 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $400357884 |
|  Aggregate gross unrealized depreciation | (175024541) |
|  Net unrealized appreciation | $225333343 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2680367362 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $2,650,110,511) | $2905700705.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 2494859.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for securities sold | 924487.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 557544.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 13523.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 2909691118.0 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 759407.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 606961.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 327187.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 237171.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class A | 16092.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | 127.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 114912.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 2061857.0 |
|  **NET ASSETS** | $2907629261.0 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $2625912314.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 281716947.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $2907629261.0 |
|  **Class A** |  |
|  Net asset value, offering and redemption price per share, $74,083,736 / 8,520,701 shares outstanding (unlimited amount authorized: $0.01 par value) | $8.69 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $2,805,154,506 / 322,552,694 shares outstanding (unlimited amount authorized: $0.01 par value) | $8.7 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $28,391,019 / 3,262,118 shares outstanding (unlimited amount authorized: $0.01 par value) | $8.7 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $38445414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 32052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 38477466 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 7658026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 3912211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 3061769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 246014 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class A | 198992 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 197000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 157121 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 101045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 58546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | 15590724 |
|  **NET INVESTMENT INCOME (LOSS)** | 22886742 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | 6944218 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 105622483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 112566701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (830255315) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (717688614) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(694801872) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $22886742 | $20633133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 112566701 | 594263901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (830255315) | (19288844) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (694801872) | 595608190 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (11099936) | (11049016) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (421481081) | (429413734) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (4457362) | (4439858) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (437038379) | (444902608) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 458,838 and 594,320 shares, respectively ] | 4860131 | 7853528 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 1,285,622 and 881,327 shares, respectively ] | 11099936 | 11049016 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (802265) and (997361) shares, respectively ] | (8356347) | (13141127) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class A transactions | 7603720 | 5761417 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 7,265,425 and 5,736,321 shares, respectively ] | 75306945 | 75835000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 48,806,747 and 34,248,696 shares, respectively ] | 421481081 | 429413734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (30170352) and (29709629) shares, respectively ] | (311607037) | (392238519) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | 185180989 | 113010215 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 224,617 and 214,121 shares, respectively ] | 2336952 | 2837868 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 514,710 and 353,704 shares, respectively ] | 4457362 | 4439858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (487456) and (553667) shares, respectively ] | (4845936) | (7355035) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | 1948378 | (77309) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | 194733087 | 118694323 |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (937107164) | 269399905 |
|  **NET ASSETS:** | **NET ASSETS:** | **NET ASSETS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 3844736425 | 3575336520 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $2907629261 | $3844736425 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class A** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class A** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $12.51 | $12.06 | $11.50 | $10.14 | $11.99 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.08 | 0.07 | 0.08 | 0.13 | 0.12 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.43) | 1.95 | 1.61 | 2.31 | (1.11) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.35) | 2.02 | 1.69 | 2.44 | (0.99) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.08) | (0.53) | (0.31) | (0.18) | (0.19) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (1.39) | (1.04) | (0.82) | (0.90) | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.47) | (1.57) | (1.13) | (1.08) | (0.86) |
|  Net asset value, end of year | $8.69 | $12.51 | $12.06 | $11.50 | $10.14 |
|  Total return | (18.40)% | 17.14% | 15.41% | 24.46% | (8.72)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $74084 | $94816 | $85610 | $82758 | $73762 |
|  Ratio of expenses to average net assets (f) | 0.49 %(j) | 0.48 %(k) | 0.50 %(m) | 0.50 %(m) | 0.51 %(n) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 0.74% | 0.55% | 0.70% | 1.12% | 0.98% |
|  Portfolio turnover rate^ | 7% | 17% | 16% | 11% | 11% |
| **Class B** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $12.51 | $12.06 | $11.50 | $10.14 | $11.99 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.07 | 0.07 | 0.08 | 0.13 | 0.11 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.41) | 1.95 | 1.61 | 2.31 | (1.10) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.34) | 2.02 | 1.69 | 2.44 | (0.99) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.08) | (0.53) | (0.31) | (0.18) | (0.19) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (1.39) | (1.04) | (0.82) | (0.90) | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.47) | (1.57) | (1.13) | (1.08) | (0.86) |
|  Net asset value, end of year | $8.70 | $12.51 | $12.06 | $11.50 | $10.14 |
|  Total return | (18.31)% | 17.14% | 15.41% | 24.46% | (8.72)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2805155 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3712223 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3453575 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3291046 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2902334 |
|  Ratio of expenses to average net assets (f) | 0.49 %(j) | 0.48 %(k) | 0.50 %(m) | 0.50 %(m) | 0.51 %(n) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 0.72% | 0.55% | 0.71% | 1.14% | 0.94% |
|  Portfolio turnover rate^ | 7% | 17% | 16% | 11% | 11% |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/AGGRESSIVE ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS (Continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class K** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $12.52 | $12.07 | $11.50 | $10.14 | $11.99 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.10 | 0.10 | 0.11 | 0.16 | 0.14 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.42) | 1.96 | 1.62 | 2.30 | (1.10) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.32) | 2.06 | 1.73 | 2.46 | (0.96) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.11) | (0.57) | (0.34) | (0.20) | (0.22) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (1.39) | (1.04) | (0.82) | (0.90) | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.50) | (1.61) | (1.16) | (1.10) | (0.89) |
|  Net asset value, end of year | $8.70 | $12.52 | $12.07 | $11.50 | $10.14 |
|  Total return | (18.16)% | 17.41% | 15.75% | 24.74% | (8.46)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28391 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37698 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36152 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32984 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30292 |
|  Ratio of expenses to average net assets (f) | 0.24 %(j) | 0.23 %(k) | 0.25 %(m) | 0.25 %(m) | 0.26 %(n) |
|  Ratio of net investment income (loss) to average net assets (f)(x) | 0.97% | 0.78% | 0.97% | 1.38% | 1.15% |
|  Portfolio turnover rate^ | 7% | 17% | 16% | 11% | 11% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.14% for Class A, 1.14% for Class B and 0.89% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.12% for Class A, 1.12% for Class B and 0.87% for Class K.* 

*(m)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.16% for Class A, 1.16% for Class B and 0.91% for Class K.* 

*(n)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.17% for Class A, 1.17% for Class B and 0.92% for Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**EQ/CORE PLUS BOND PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

INVESTMENT SUB-ADVISERS

<sub>⮚</sub> AXA Investment Managers US Inc. (Effective January 1, 2022, AXA Investment Managers, Inc. was renamed to AXA Investment Managers US Inc.)

<sub>⮚</sub> Brandywine Global Investment Management, LLC

<sub>⮚</sub> Loomis, Sayles & Company, L.P.

PERFORMANCE RESULTS

![LOGO](g401146g60d06.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class A Shares | (12.86)% | 0.91% | 1.03 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (12.89) | 0.91 | 1.06 |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (12.83) | 1.15 | 1.31 |  |
| &nbsp;&nbsp;&nbsp; Bloomberg U.S. Aggregate Bond Index | (13.01) | 0.02 | 1.06 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (12.89)% for the year ended December 31, 2022. This compares to the Portfolio's benchmark, the Bloomberg U.S. Aggregate Bond Index, which returned (13.01)% over the same period.

**Portfolio Highlights** 

***What helped performance during the year?***

• The Portfolio's underweight duration stance, particularly in the first half of the year, was a key contributor to
relative return as surging inflation left central banks little choice but to aggressively raise rates in an attempt to reign in inflation.

• Overweight positions in select emerging market currencies contributed to relative outperformance.

• Bond selection and yield curve positioning contributed to performance.

***What hurt performance during the year?***

• Sector allocation was a major detractor in the period.

• Issue selection in agency backed securitized assets detracted from results during the period.

• Underweight exposure to U.S. Treasuries detracted from results.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Portfolio Characteristics**<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Portfolio Characteristics**<br> **As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; Weighted Average Life (Years) | 12.03 |  |
| &nbsp;&nbsp;&nbsp; Weighted Average Coupon (%) | 4.24 |  |
| &nbsp;&nbsp;&nbsp; Weighted Average Modified Duration (Years)\* | 7.12 |  |
| &nbsp;&nbsp;&nbsp; Weighted Average Rating\*\* | AA |  |
| &nbsp;&nbsp;&nbsp; *\* Modified duration is a measure of the price sensitivity of the Portfolio to interest rate movements, taking into account specific features of the securities in which it invests.*<br>*\*\* Weighted Average Rating has been provided by the Investment Sub-Adviser. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations, including specific securities, money market instruments or other debts. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest); ratings are subject to change without notice.* | &nbsp;&nbsp;&nbsp; *\* Modified duration is a measure of the price sensitivity of the Portfolio to interest rate movements, taking into account specific features of the securities in which it invests.*<br>*\*\* Weighted Average Rating has been provided by the Investment Sub-Adviser. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations, including specific securities, money market instruments or other debts. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest); ratings are subject to change without notice.* | <br>|

---

------

**EQ/CORE PLUS BOND PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Sector Weightings <br>as of December 31, 2022** | **% of <br>Net Assets** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | 25.2% |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | 16.7 |
| &nbsp;&nbsp;&nbsp; Financials | 13.2 |
| &nbsp;&nbsp;&nbsp; Foreign Government Securities | 12.5 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | 4.6 |
| &nbsp;&nbsp;&nbsp; Consumer Discretionary | 4.1 |
| &nbsp;&nbsp;&nbsp; Energy | 3.2 |
| &nbsp;&nbsp;&nbsp; Commercial Mortgage-Backed Securities | 2.8 |
| &nbsp;&nbsp;&nbsp; Information Technology | 2.7 |
| &nbsp;&nbsp;&nbsp; Communication Services | 2.7 |
| &nbsp;&nbsp;&nbsp; Industrials | 2.2 |
| &nbsp;&nbsp;&nbsp; Materials | 2 |
| &nbsp;&nbsp;&nbsp; Health Care | 1.2 |
| &nbsp;&nbsp;&nbsp; Utilities | 1.1 |
| &nbsp;&nbsp;&nbsp; Consumer Staples | 1.1 |
| &nbsp;&nbsp;&nbsp; Real Estate | 1 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | 0.3 |
| &nbsp;&nbsp;&nbsp; Cash and Other | 3.4 |
|  | 100.0% |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class A and Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses**<br> **Paid**<br> **During**<br> **Period\*<br>7/1/22 -<br>12/31/22** | **Expenses**<br> **Paid**<br> **During**<br> **Period\*<br>7/1/22 -<br>12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class A** | &nbsp;&nbsp;&nbsp; **Class A** | &nbsp;&nbsp;&nbsp; **Class A** | &nbsp;&nbsp;&nbsp; **Class A** | &nbsp;&nbsp;&nbsp; **Class A** | &nbsp;&nbsp;&nbsp; **Class A** | &nbsp;&nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp;&nbsp; Actual | $| 1000.00 | $| 972.50 | $| 4.69 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) |  | 1000.00 |  | 1020.45 |  | 4.81 |  |
| &nbsp;&nbsp;&nbsp; **Class B** | &nbsp;&nbsp;&nbsp; **Class B** | &nbsp;&nbsp;&nbsp; **Class B** | &nbsp;&nbsp;&nbsp; **Class B** | &nbsp;&nbsp;&nbsp; **Class B** | &nbsp;&nbsp;&nbsp; **Class B** | &nbsp;&nbsp;&nbsp; **Class B** |  |
| &nbsp;&nbsp;&nbsp; Actual |  | 1000.00 |  | 972.40 |  | 4.68 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) |  | 1000.00 |  | 1020.46 |  | 4.79 |  |
| &nbsp;&nbsp;&nbsp; **Class K** | &nbsp;&nbsp;&nbsp; **Class K** | &nbsp;&nbsp;&nbsp; **Class K** | &nbsp;&nbsp;&nbsp; **Class K** | &nbsp;&nbsp;&nbsp; **Class K** | &nbsp;&nbsp;&nbsp; **Class K** | &nbsp;&nbsp;&nbsp; **Class K** |  |
| &nbsp;&nbsp;&nbsp; Actual |  | 1000.00 |  | 972.30 |  | 3.45 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) |  | 1000.00 |  | 1021.71 |  | 3.54 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.94%, 0.94% and 0.69%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.94%, 0.94% and 0.69%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.94%, 0.94% and 0.69%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.94%, 0.94% and 0.69%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.94%, 0.94% and 0.69%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.94%, 0.94% and 0.69%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class A, Class B and Class K shares annualized expense ratio of 0.94%, 0.94% and 0.69%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  LONG-TERM DEBT SECURITIES: | LONG-TERM DEBT SECURITIES: | LONG-TERM DEBT SECURITIES: |
|  **Asset-Backed Securities (4.6%)** | **Asset-Backed Securities (4.6%)** | **Asset-Backed Securities (4.6%)** |
|  Affirm Asset Securitization Trust, | Affirm Asset Securitization Trust, | Affirm Asset Securitization Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B A<br>1.030%, 8/17/26§ | $340000 | $322304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-A A<br>4.300%, 5/17/27§ | 105000 | 99670 |
|  American Credit Acceptance Receivables Trust, | American Credit Acceptance Receivables Trust, | American Credit Acceptance Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4 C<br>1.310%, 12/14/26§ | 70385 | 69118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 B<br>0.660%, 2/13/26§ | 150090 | 149615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 C<br>0.980%, 11/15/27§ | 710000 | 690117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4 C<br>7.860%, 2/15/29§ | 70000 | 70312 |
|  AmeriCredit Automobile Receivables Trust, | AmeriCredit Automobile Receivables Trust, | AmeriCredit Automobile Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2 B<br>0.970%, 2/18/26 | 15000 | 14673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 B<br>0.690%, 1/19/27 | 190000 | 176813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 C<br>1.410%, 8/18/27 | 425000 | 386233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 B<br>2.770%, 4/19/27 | 680000 | 649771 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2 A3<br>4.380%, 4/18/28 | 270000 | 264104 |
|  Aqua Finance Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A A<br>1.540%, 7/17/46§ | 298065 | 271400 |
|  Avid Automobile Receivables Trust, | Avid Automobile Receivables Trust, | Avid Automobile Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A<br>0.610%, 1/15/25§ | 45944 | 45892 |
|  Avis Budget Rental Car Funding AESOP LLC, | Avis Budget Rental Car Funding AESOP LLC, | Avis Budget Rental Car Funding AESOP LLC, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-5A A<br>6.120%, 4/20/27§ | 420000 | 419113 |
|  BHG Securitization Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C A<br>5.320%, 10/17/35§ | 109436 | 108534 |
|  Canadian Pacer Auto Receivables Trust, | Canadian Pacer Auto Receivables Trust, | Canadian Pacer Auto Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A3<br>0.500%, 10/20/25§ | 691939 | 665173 |
|  CarMax Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 A3<br>0.550%, 6/15/26 | 1170000 | 1112596 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4 A3<br>0.560%, 9/15/26 | 560000 | 529252 |
|  Carvana Auto Receivables Trust, | Carvana Auto Receivables Trust, | Carvana Auto Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-N2 B<br>0.750%, 3/10/28 | 41248 | 37818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-N4 C<br>1.720%, 9/11/28 | 245000 | 234504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-P3 A<br>3 0.700%, 11/10/26 | 665000 | 619484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-P4 A3<br>1.310%, 1/11/27 | 865000 | 804601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-P3 A3<br>4.610%, 11/10/27 | 105000 | 101946 |
|  CNH Equipment Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-A A3<br>1.160%, 6/16/25 | 22810 | 22491 |
|  Commonbond Student Loan Trust, | Commonbond Student Loan Trust, | Commonbond Student Loan Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BGS A<br>1.170%, 9/25/51§ | 454694 | 378789 |
|  Credit Acceptance Auto Loan Trust, | Credit Acceptance Auto Loan Trust, | Credit Acceptance Auto Loan Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A A<br>1.000%, 5/15/30§ | 250000 | 236569 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4 A<br>1.260%, 10/15/30§ | 455000 | 424839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A A<br>6.570%, 10/15/32§ | 735000 | 735843 |
|  Donlen Fleet Lease Funding LLC, | Donlen Fleet Lease Funding LLC, | Donlen Fleet Lease Funding LLC, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 A2<br>0.560%, 12/11/34§ | 209288 | 202584 |
|  Drive Auto Receivables Trust, | Drive Auto Receivables Trust, | Drive Auto Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 B<br>0.650%, 7/15/25 | 6618 | 6610 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 B<br>0.580%, 12/15/25 | 503292 | 498443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 B<br>1.110%, 5/15/26 | 375000 | 364096 |
|  DT Auto Owner Trust, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A C<br>3.280%, 3/16/26§ | 65584 | 64790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A B<br>0.620%, 9/15/25§ | 28427 | 28239 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A B<br>0.810%, 1/15/27§ | 145000 | 142061 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A A<br>0.330%, 4/15/25§ | 296650 | 293928 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A C<br>1.500%, 9/15/27§ | 155000 | 142482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A B<br>6.740%, 7/17/28§ | 565000 | 573780 |
|  Enterprise Fleet Financing LLC, | Enterprise Fleet Financing LLC, | Enterprise Fleet Financing LLC, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 A2<br>0.480%, 5/20/27§ | 549927 | 528037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3 A2<br>4.380%, 7/20/29§ | 150000 | 146181 |
|  Exeter Automobile Receivables Trust, | Exeter Automobile Receivables Trust, | Exeter Automobile Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A C<br>3.280%, 5/15/25§ | 36164 | 35994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A B<br>0.570%, 9/15/25 | 73729 | 73206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A B<br>0.690%, 1/15/26 | 586495 | 577089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A B<br>1.050%, 5/15/26 | 585000 | 570636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A B<br>4.860%, 12/15/26 | 490000 | 481734 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-5A B<br>5.970%, 3/15/27 | 590000 | 586806 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-6A B<br>6.030%, 8/16/27 | 220000 | 220645 |
|  Flagship Credit Auto Trust, | Flagship Credit Auto Trust, | Flagship Credit Auto Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2 C<br>3.800%, 4/15/26§ | 47254 | 46938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4 C<br>1.280%, 2/16/27§ | 65000 | 62334 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 B<br>0.680%, 2/16/27§ | 100000 | 97934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 B<br>0.930%, 6/15/27§ | 145000 | 139665 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount** | **Value<br>(Note 1)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 B<br>0.950%, 7/15/27§ | $1065000 | $1001036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4 A3<br>6.320%, 6/15/27§ | 420000 | 419469 |
|  Ford Credit Auto Owner Trust, | Ford Credit Auto Owner Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-A A3<br>1.040%, 8/15/24 | 22188 | 21979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A<br>1.370%, 10/17/33§ | 275000 | 244136 |
|  Foursight Capital Automobile Receivables Trust, | Foursight Capital Automobile Receivables Trust, | Foursight Capital Automobile Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2 A3<br>0.810%, 5/15/26§ | 895000 | 871242 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 A3<br>1.830%, 12/15/26§ | 325000 | 310369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2 A3<br>4.590%, 6/15/27§ | 275000 | 268557 |
|  GLS Auto Receivables Issuer Trust, | GLS Auto Receivables Issuer Trust, | GLS Auto Receivables Issuer Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4A C<br>1.140%, 11/17/25§ | 47809 | 46957 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A B<br>0.820%, 4/15/25§ | 17375 | 17351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A B<br>0.770%, 9/15/25§ | 272337 | 269083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A B<br>0.780%, 11/17/25§ | 430000 | 418807 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4A B<br>1.530%, 4/15/26§ | 800000 | 766090 |
|  GM Financial Automobile Leasing Trust, | GM Financial Automobile Leasing Trust, | GM Financial Automobile Leasing Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 A3<br>0.390%, 10/21/24 | 1510000 | 1462575 |
|  GM Financial Consumer Automobile Receivables Trust, | GM Financial Consumer Automobile Receivables Trust, | GM Financial Consumer Automobile Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-4 A3<br>1.750%, 7/16/24 | 4071 | 4060 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1 A3<br>1.840%, 9/16/24 | 12875 | 12792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-4 A2<br>0.280%, 11/18/24 | 192211 | 190193 |
|  GM Financial Revolving Receivables Trust, | GM Financial Revolving Receivables Trust, | GM Financial Revolving Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A<br>1.170%, 6/12/34§ | 195000 | 169476 |
|  Harley-Davidson Motorcycle Trust, | Harley-Davidson Motorcycle Trust, | Harley-Davidson Motorcycle Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B A3<br>0.560%, 11/16/26 | 722459 | 697362 |
|  Hilton Grand Vacations Trust, | Hilton Grand Vacations Trust, | Hilton Grand Vacations Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A C<br>5.570%, 1/25/37§ | 93095 | 89571 |
|  Honda Auto Receivables Owner Trust, | Honda Auto Receivables Owner Trust, | Honda Auto Receivables Owner Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3 A4<br>1.850%, 8/15/25 | 58297 | 58233 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2 A3<br>0.820%, 7/15/24 | 36196 | 35718 |
|  Hyundai Auto Receivables Trust, | Hyundai Auto Receivables Trust, | Hyundai Auto Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B A2<br>0.240%, 5/15/24 | 176173 | 175432 |
|  Marlette Funding Trust, | Marlette Funding Trust, | Marlette Funding Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A A<br>0.650%, 12/15/31§ | 118504 | 117539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3A A<br>5.180%, 11/15/32§ | 125246 | 124209 |
|  Mercedes-Benz Auto Lease Trust, | Mercedes-Benz Auto Lease Trust, | Mercedes-Benz Auto Lease Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B A3<br>0.400%, 11/15/24 | 510000 | 495375 |
|  Mercedes-Benz Auto Receivables Trust, | Mercedes-Benz Auto Receivables Trust, | Mercedes-Benz Auto Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A3<br>0.460%, 6/15/26 | 675000 | 641684 |
|  Navient Private Education Refi Loan Trust, | Navient Private Education Refi Loan Trust, | Navient Private Education Refi Loan Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-GA A<br>2.400%, 10/15/68§ | 85130 | 77903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-EA A<br>0.970%, 12/16/69§ | 1111329 | 939584 |
|  New Economy Assets Phase 1 Sponsor LLC, | New Economy Assets Phase 1 Sponsor LLC, | New Economy Assets Phase 1 Sponsor LLC, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1 A1<br>1.910%, 10/20/61§ | 695000 | 588002 |
|  NextGear Floorplan Master Owner Trust, | NextGear Floorplan Master Owner Trust, | NextGear Floorplan Master Owner Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A A<br>0.850%, 7/15/26§ | 1215000 | 1128790 |
|  Nissan Auto Receivables Owner Trust, | Nissan Auto Receivables Owner Trust, | Nissan Auto Receivables Owner Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C A3<br>1.930%, 7/15/24 | 12996 | 12943 |
|  OneMain Financial Issuance Trust, | OneMain Financial Issuance Trust, | OneMain Financial Issuance Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-S1 A<br>4.130%, 5/14/35§ | 990000 | 931560 |
|  Prestige Auto Receivables Trust, | Prestige Auto Receivables Trust, | Prestige Auto Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A C<br>1.310%, 11/16/26§ | 175765 | 174314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A C<br>1.530%, 2/15/28§ | 350000 | 325658 |
|  Santander Consumer Auto Receivables Trust, | Santander Consumer Auto Receivables Trust, | Santander Consumer Auto Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-AA C<br>3.710%, 2/17/26§ | 50000 | 49517 |
|  Santander Drive Auto Receivables Trust, | Santander Drive Auto Receivables Trust, | Santander Drive Auto Receivables Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-4 C<br>1.010%, 1/15/26 | 25085 | 24824 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3 B<br>0.600%, 12/15/25 | 609091 | 604374 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-3 B<br>4.130%, 8/16/27 | 665000 | 648990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4 B<br>4.420%, 11/15/27 | 450000 | 439113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-5 B<br>4.430%, 3/15/27 | 240000 | 234972 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-7 A3<br>5.750%, 4/15/27 | 100000 | 100978 |
|  Santander Retail Auto Lease Trust, | Santander Retail Auto Lease Trust, | Santander Retail Auto Lease Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C A2<br>0.290%, 4/22/24§ | 37145 | 37069 |
|  SCF Equipment Leasing LLC, | SCF Equipment Leasing LLC, | SCF Equipment Leasing LLC, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A A3<br>2.920%, 7/20/29§ | 325000 | 304449 |
|  SMB Private Education Loan Trust, | SMB Private Education Loan Trust, | SMB Private Education Loan Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-D A1A<br>1.340%, 3/17/53§ | 288099 | 254883 |
|  SoFi Professional Loan Program Trust, | SoFi Professional Loan Program Trust, | SoFi Professional Loan Program Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-A A2FX<br>2.540%, 5/15/46§ | 82834 | 73878 |
|  Toyota Auto Loan Extended Note Trust, | Toyota Auto Loan Extended Note Trust, | Toyota Auto Loan Extended Note Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A A<br>1.350%, 5/25/33§ | 110000 | 100486 |
|  Toyota Auto Receivables Owner Trust, | Toyota Auto Receivables Owner Trust, | Toyota Auto Receivables Owner Trust, |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-B A3<br>1.360%, 8/15/24 | 17625 | 17434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C A3<br>0.430%, 1/15/26 | 745000 | 706566 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | |
|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Value<br>(Note 1)** | |
|  United Auto Credit Securitization Trust, | United Auto Credit Securitization Trust, | United Auto Credit Securitization Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1 B<br>2.100%, 3/10/25§ | 160000 | 158485 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2 C<br>5.810%, 5/10/27§ | 255000 | 249950 |  |
|  Westlake Automobile Receivables Trust, | Westlake Automobile Receivables Trust, | Westlake Automobile Receivables Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A C<br>2.010%, 7/15/25§ | 150037 | 148589 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3A C<br>1.240%, 11/17/25§ | 35000 | 34120 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A B<br>0.640%, 3/16/26§ | 190000 | 187006 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A B<br>0.620%, 7/15/26§ | 240000 | 231531 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A C<br>1.580%, 1/15/27§ | 855000 | 799768 |  |
|  World Omni Auto Receivables Trust, | World Omni Auto Receivables Trust, | World Omni Auto Receivables Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C A3<br>1.960%, 12/16/24 | 6576 | 6538 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C A2<br>0.220%, 9/16/24 | 159231 | 158653 |  |
|  World Omni Select Auto Trust, | World Omni Select Auto Trust, | World Omni Select Auto Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A B<br>0.850%, 8/16/27 | 300000 | 276417 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities** |  | 34482425 |  |
|  **Collateralized Mortgage Obligation (0.3%)** | **Collateralized Mortgage Obligation (0.3%)** | **Collateralized Mortgage Obligation (0.3%)** |  |
|  Towd Point Mortgage Trust, | Towd Point Mortgage Trust, | Towd Point Mortgage Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2 A2<br>3.750%, 12/25/58 (l)§ | 2120000 | 1853684 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligation** |  | 1853684 |  |
|  **Commercial Mortgage-Backed Securities (2.8%)** | **Commercial Mortgage-Backed Securities (2.8%)** | **Commercial Mortgage-Backed Securities (2.8%)** |  |
|  BANK, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BN27 A5<br>2.144%, 4/15/63 | 250000 | 204519 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN34 A5<br>2.438%, 6/15/63 | 660000 | 540258 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN36 A5<br>2.470%, 9/15/64 | 1045000 | 859618 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN37 A5<br>2.618%, 11/15/64 (l) | 755000 | 627154 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-BNK40 A4<br>3.394%, 3/15/64 (l) | 400000 | 354265 |  |
|  BBCMS Mortgage Trust, | BBCMS Mortgage Trust, | BBCMS Mortgage Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C12 A5<br>2.689%, 11/15/54 | 755000 | 630504 |  |
|  Benchmark Mortgage Trust, | Benchmark Mortgage Trust, | Benchmark Mortgage Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B28 A5<br>2.224%, 8/15/54 | 780000 | 628707 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B29 A5<br>2.388%, 9/15/54 | 695000 | 567104 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B31 A5<br>2.669%, 12/15/54 | 605000 | 503287 |  |
|  BPR Trust, | BPR Trust, | BPR Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NRD A<br>5.851%, 12/15/38 (l)§ | 420000 | 398724 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-OANA A<br>6.234%, 4/15/37 (l)§ | 310000 | 302604 |  |
|  CSMC LLC, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-USA A1<br>3.304%, 9/15/37§ | 272399 | 245561 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2014-USA A2<br>3.953%, 9/15/37§ | 575000 | 518539 |  |
|  DROP Mortgage Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FILE A<br>5.468%, 10/15/43 (l)§ | 420000 | 400048 |  |
|  FHLMC Multifamily Structured Pass-Through Certificates, | FHLMC Multifamily Structured Pass-Through Certificates, | FHLMC Multifamily Structured Pass-Through Certificates, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series K738 A2<br>1.545%, 1/25/27 | 250000 | 223131 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series K-F107 AS<br>3.975%, 3/25/28 (l) | 930421 | 910634 |  |
|  GS Mortgage Securities Corp. II, | GS Mortgage Securities Corp. II, | GS Mortgage Securities Corp. II, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2012-BWTR A<br>2.954%, 11/5/34§ | 305000 | 256054 |  |
|  JPMDB Commercial Mortgage Securities Trust, | JPMDB Commercial Mortgage Securities Trust, | JPMDB Commercial Mortgage Securities Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C8 C<br>4.811%, 6/15/51 (l) | 1190000 | 999425 |  |
|  Med Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MDLN A<br>5.268%, 11/15/38 (l)§ | 385000 | 370575 |  |
|  Morgan Stanley Bank of America Merrill Lynch Trust, | Morgan Stanley Bank of America Merrill Lynch Trust, | Morgan Stanley Bank of America Merrill Lynch Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2013-C11 A4<br>4.198%, 8/15/46 (l) | 735000 | 718996 |  |
|  Morgan Stanley Capital I Trust, | Morgan Stanley Capital I Trust, | Morgan Stanley Capital I Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-HR8 A4<br>2.041%, 7/15/53 | 275000 | 221887 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-L7 A5<br>2.574%, 10/15/54 | 775000 | 630802 |  |
|  SPGN Mortgage Trust, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-TFLM A<br>5.886%, 2/15/39 (l)§ | 760000 | 717989 |  |
|  Wells Fargo Commercial Mortgage Trust, | Wells Fargo Commercial Mortgage Trust, | Wells Fargo Commercial Mortgage Trust, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2016-NXS5 D<br>4.982%, 1/15/59 (l) | 3000000 | 2554803 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C49 D<br>3.000%, 3/15/52§ | 4810000 | 3298654 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C57 A4<br>2.118%, 8/15/53 | 355000 | 289561 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2020-C58 A4<br>2.092%, 7/15/53 | 100000 | 80537 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C60 A4<br>2.342%, 8/15/54 | 1540000 | 1242744 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C61 A4<br>2.658%, 11/15/54 | 1100000 | 903144 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C62 A4<br>4.000%, 4/15/55 (l) | 715000 | 652960 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Commercial Mortgage-Backed Securities** |  | 20852788 |  |
|  **Convertible Bond (0.2%)** | **Convertible Bond (0.2%)** |  |  |
|  **Information Technology (0.2%)** | **Information Technology (0.2%)** |  |  |
|  ***Technology Hardware, Storage & Peripherals (0.2%)*** | ***Technology Hardware, Storage & Peripherals (0.2%)*** | ***Technology Hardware, Storage & Peripherals (0.2%)*** | **** |
|  Western Digital Corp.<br>1.500%, 2/1/24 (e) | 1900000 | 1809750 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | 1809750 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Convertible Bond** |  | 1809750 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | |
|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Value<br>(Note 1)** | |
|  **Corporate Bonds (34.3%)** | **Corporate Bonds (34.3%)** |  |  |
|  **Communication Services (2.7%)** | **Communication Services (2.7%)** |  |  |
|  ***Diversified Telecommunication Services (0.7%)*** | ***Diversified Telecommunication Services (0.7%)*** | ***Diversified Telecommunication Services (0.7%)*** | **** |
|  AT&T, Inc.<br>2.550%, 12/1/33 | $2300000 | $1769237 |  |
|  CCO Holdings LLC<br>5.500%, 5/1/26§ | 144000 | 139680 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 9/1/29§ | 409000 | 384354 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 3/1/30§ | 112000 | 95392 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32§ | 228000 | 184632 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/1/32 | 328000 | 261301 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 6/1/33§ | 374000 | 286581 |  |
|  Level 3 Financing, Inc.<br>4.250%, 7/1/28§ | 267000 | 210316 |  |
|  Lumen Technologies, Inc.<br>5.125%, 12/15/26§ | 370000 | 321641 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 6/15/29§ | 399000 | 293097 |  |
|  Sprint Capital Corp.<br>8.750%, 3/15/32 | 207000 | 246426 |  |
|  Windstream Escrow LLC<br>7.750%, 8/15/28§ | 245000 | 200126 |  |
|  Zayo Group Holdings, Inc.<br>4.000%, 3/1/27§ | 350000 | 259595 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 3/1/28§ | 364000 | 207476 |  |
|  |  | 4859854 |  |
|  ***Entertainment (0.1%)*** | ***Entertainment (0.1%)*** | ***Entertainment (0.1%)*** | **** |
|  Lions Gate Capital Holdings LLC<br>5.500%, 4/15/29§ | 527000 | 303789 |  |
|  Live Nation Entertainment, Inc.<br>4.875%, 11/1/24§ | 306000 | 298350 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 5/15/27§ | 230000 | 224225 |  |
|  Warnermedia Holdings, Inc.<br>5.141%, 3/15/52§ | 370000 | 269989 |  |
|  |  | 1096353 |  |
|  ***Interactive Media & Services (0.8%)*** | ***Interactive Media & Services (0.8%)*** | ***Interactive Media & Services (0.8%)*** | **** |
|  Meta Platforms, Inc.<br>4.450%, 8/15/52 | 6979000 | 5592980 |  |
|  Rackspace Technology Global, Inc.<br>5.375%, 12/1/28§ | 253000 | 110657 |  |
|  |  | 5703637 |  |
|  ***Media (0.7%)*** | ***Media (0.7%)*** | ***Media (0.7%)*** | **** |
|  Comcast Corp.<br>5.350%, 11/15/27 | 255000 | 260256 |  |
|  Gray Escrow II, Inc.<br>5.375%, 11/15/31§ | 217000 | 156464 |  |
|  Gray Television, Inc.<br>5.875%, 7/15/26§ | 185000 | 164187 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 10/15/30§ | 286000 | 204490 |  |
|  McGraw-Hill Education, Inc.<br>8.000%, 8/1/29§ | 473000 | 389997 |  |
|  Nexstar Media, Inc.<br>5.625%, 7/15/27§ | 515000 | 471553 |  |
|  Outfront Media Capital LLC<br>5.000%, 8/15/27§ | 657000 | 594366 |  |
|  Paramount Global<br>6.875%, 4/30/36 | 170000 | 165903 |  |
|  Sinclair Television Group, Inc.<br>5.500%, 3/1/30§ | 255000 | 177863 |  |
|  Sirius XM Radio, Inc.<br>3.125%, 9/1/26§ | 372000 | 329380 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 9/1/31§ | 360000 | 280573 |  |
|  Stagwell Global LLC<br>5.625%, 8/15/29§ | 446000 | 366228 |  |
|  TEGNA, Inc.<br>4.750%, 3/15/26§ | 409000 | 396358 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 9/15/29 | 177000 | 167106 |  |
|  Univision Communications, Inc.<br>7.375%, 6/30/30§ | 353000 | 336603 |  |
|  Videotron Ltd.<br>3.625%, 6/15/29§ | 175000 | 147436 |  |
|  VZ Secured Financing BV<br>5.000%, 1/15/32§ | 530000 | 425987 |  |
|  Ziggo Bond Co. BV<br>6.000%, 1/15/27§ | 348000 | 323139 |  |
|  |  | 5357889 |  |
|  ***Wireless Telecommunication Services (0.4%)*** | ***Wireless Telecommunication Services (0.4%)*** | ***Wireless Telecommunication Services (0.4%)*** | **** |
|  Sprint LLC<br>7.875%, 9/15/23 | 214000 | 217158 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 3/1/26 | 160000 | 168016 |  |
|  T-Mobile USA, Inc.<br>5.650%, 1/15/53 | 2675000 | 2632430 |  |
|  Vmed O2 UK Financing I plc<br>4.750%, 7/15/31§ | 200000 | 163000 |  |
|  |  | 3180604 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | 20198337 |  |
|  **Consumer Discretionary (4.1%)** | **Consumer Discretionary (4.1%)** |  |  |
|  ***Auto Components (0.2%)*** | ***Auto Components (0.2%)*** | ***Auto Components (0.2%)*** | **** |
|  Aptiv plc<br>3.250%, 3/1/32 | 910000 | 749891 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 12/1/51 | 260000 | 154791 |  |
|  Denso Corp.<br>1.239%, 9/16/26§ | 565000 | 491803 |  |
|  Icahn Enterprises LP<br>6.375%, 12/15/25 | 195000 | 189170 |  |
|  |  | 1585655 |  |
|  ***Automobiles (1.0%)*** | ***Automobiles (1.0%)*** | ***Automobiles (1.0%)*** | **** |
|  Ford Motor Co.<br>6.625%, 10/1/28 | 241000 | 239192 |  |
|  General Motors Co.<br>5.600%, 10/15/32 | 3810000 | 3557180 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 4/1/45 | 2030000 | 1652416 |  |
|  Hyundai Capital America<br>0.875%, 6/14/24§ | 270000 | 251906 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 9/15/28§ | 285000 | 235087 |  |
|  Kia Corp.<br>1.000%, 4/16/24§ | 200000 | 188316 |  |
|  Mercedes-Benz Finance North America LLC<br>3.350%, 2/22/23§ | 245000 | 244090 |  |
|  Stellantis Finance US, Inc.<br>6.375%, 9/12/32§ | 455000 | 450036 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
|  Volkswagen Group of America Finance LLC<br>3.350%, 5/13/25§ | $| 315000 | $| 300728 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 6/8/27§ |  | 505000 |  | 484211 |  |
|  |  |  |  | 7603162 |  |
|  ***Distributors (0.1%)*** | ***Distributors (0.1%)*** | ***Distributors (0.1%)*** | ***Distributors (0.1%)*** | ***Distributors (0.1%)*** | **** |
|  Ferguson Finance plc<br>4.650%, 4/20/32§ |  | 375000 |  | 345919 |  |
|  Univar Solutions USA, Inc.<br>5.125%, 12/1/27§ |  | 171000 |  | 161901 |  |
|  |  |  |  | 507820 |  |
|  ***Diversified Consumer Services (0.0%)†*** | ***Diversified Consumer Services (0.0%)†*** | ***Diversified Consumer Services (0.0%)†*** | ***Diversified Consumer Services (0.0%)†*** | ***Diversified Consumer Services (0.0%)†*** | **** |
|  GEMS MENASA Cayman Ltd.<br>7.125%, 7/31/26§ |  | 200000 |  | 191162 |  |
|  ***Hotels, Restaurants & Leisure (1.1%)*** | ***Hotels, Restaurants & Leisure (1.1%)*** | ***Hotels, Restaurants & Leisure (1.1%)*** | ***Hotels, Restaurants & Leisure (1.1%)*** | ***Hotels, Restaurants & Leisure (1.1%)*** | **** |
|  1011778 BC ULC<br>5.750%, 4/15/25§ |  | 220000 |  | 219242 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 1/15/28§ |  | 136000 |  | 122570 |  |
|  Caesars Entertainment, Inc.<br>6.250%, 7/1/25§ |  | 456000 |  | 444322 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29§ |  | 207000 |  | 168162 |  |
|  Carnival Corp.<br>6.000%, 5/1/29§ |  | 355000 |  | 234300 |  |
|  CDI Escrow Issuer, Inc.<br>5.750%, 4/1/30§ |  | 357000 |  | 321129 |  |
|  CEC Entertainment LLC<br>6.750%, 5/1/26§ |  | 185000 |  | 171588 |  |
|  Churchill Downs, Inc.<br>5.500%, 4/1/27§ |  | 246000 |  | 235545 |  |
|  Dave & Buster's, Inc.<br>7.625%, 11/1/25§ |  | 414000 |  | 416070 |  |
|  Expedia Group, Inc.<br>6.250%, 5/1/25§ |  | 290000 |  | 292179 |  |
|  Hilton Domestic Operating Co., Inc.<br>5.750%, 5/1/28§ |  | 383000 |  | 371989 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 2/15/32§ |  | 489000 |  | 389498 |  |
|  IRB Holding Corp.<br>7.000%, 6/15/25§ |  | 253000 |  | 252368 |  |
|  Life Time, Inc.<br>5.750%, 1/15/26§ |  | 296000 |  | 274688 |  |
|  MajorDrive Holdings IV LLC<br>6.375%, 6/1/29§ |  | 293000 |  | 216820 |  |
|  Royal Caribbean Cruises Ltd.<br>5.375%, 7/15/27§ |  | 431000 |  | 350726 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.625%, 8/15/27§ |  | 210000 |  | 211107 |  |
|  Scientific Games Holdings LP<br>6.625%, 3/1/30§ |  | 267000 |  | 225535 |  |
|  Starbucks Corp.<br>2.550%, 11/15/30 |  | 2060000 |  | 1739048 |  |
|  Station Casinos LLC<br>4.500%, 2/15/28§ |  | 488000 |  | 423403 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 12/1/31§ |  | 281000 |  | 225536 |  |
|  Vail Resorts, Inc.<br>6.250%, 5/15/25§ |  | 118000 |  | 118295 |  |
|  Wyndham Hotels & Resorts, Inc.<br>4.375%, 8/15/28§ |  | 352000 |  | 315814 |  |
|  Yum! Brands, Inc.<br>5.375%, 4/1/32 |  | 439000 |  | 405509 |  |
|  |  |  |  | 8145443 |  |
|  ***Household Durables (0.1%)*** | ***Household Durables (0.1%)*** | ***Household Durables (0.1%)*** | ***Household Durables (0.1%)*** | ***Household Durables (0.1%)*** | **** |
|  CD&R Smokey Buyer, Inc.<br>6.750%, 7/15/25§ |  | 603000 |  | 515565 |  |
|  M.D.C. Holdings, Inc.<br>3.966%, 8/6/61 |  | 485000 |  | 277662 |  |
|  Newell Brands, Inc.<br>6.625%, 9/15/29 |  | 332000 |  | 327850 |  |
|  |  |  |  | 1121077 |  |
|  ***Internet & Direct Marketing Retail (0.4%)*** | ***Internet & Direct Marketing Retail (0.4%)*** | ***Internet & Direct Marketing Retail (0.4%)*** | ***Internet & Direct Marketing Retail (0.4%)*** | ***Internet & Direct Marketing Retail (0.4%)*** | **** |
|  Amazon.com, Inc.<br>4.650%, 12/1/29 |  | 1060000 |  | 1048708 |  |
|  eBay, Inc.<br>5.950%, 11/22/27 |  | 430000 |  | 441770 |  |
|  Getty Images, Inc.<br>9.750%, 3/1/27§ |  | 780000 |  | 768416 |  |
|  Photo Holdings Merger Sub, Inc.<br>8.500%, 10/1/26§ |  | 486000 |  | 277615 |  |
|  Prosus NV<br>4.987%, 1/19/52§ |  | 275000 |  | 200750 |  |
|  |  |  |  | 2737259 |  |
|  ***Leisure Products (0.2%)*** | ***Leisure Products (0.2%)*** | ***Leisure Products (0.2%)*** | ***Leisure Products (0.2%)*** | ***Leisure Products (0.2%)*** | **** |
|  Brunswick Corp.<br>0.850%, 8/18/24 |  | 780000 |  | 720873 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 9/15/32 |  | 330000 |  | 279061 |  |
|  Mattel, Inc.<br>3.750%, 4/1/29§ |  | 143000 |  | 125103 |  |
|  |  |  |  | 1125037 |  |
|  ***Multiline Retail (0.0%)†*** | ***Multiline Retail (0.0%)†*** | ***Multiline Retail (0.0%)†*** | ***Multiline Retail (0.0%)†*** | ***Multiline Retail (0.0%)†*** | **** |
|  K2016470219 South Africa Ltd.<br>3.000%, 12/1/26§(h) |  | 245575 |  | 102 |  |
|  ***Specialty Retail (1.0%)*** | ***Specialty Retail (1.0%)*** | ***Specialty Retail (1.0%)*** | ***Specialty Retail (1.0%)*** | ***Specialty Retail (1.0%)*** | **** |
|  Asbury Automotive Group, Inc.<br>4.750%, 3/1/30 |  | 102000 |  | 85231 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/15/32§ |  | 266000 |  | 218200 |  |
|  AutoNation, Inc.<br>3.500%, 11/15/24 |  | 170000 |  | 163231 |  |
|  Dick's Sporting Goods, Inc.<br>4.100%, 1/15/52 |  | 365000 |  | 237153 |  |
|  eG Global Finance plc<br>8.500%, 10/30/25§ |  | 220000 |  | 204820 |  |
|  LBM Acquisition LLC<br>6.250%, 1/15/29§ |  | 374000 |  | 238892 |  |
|  LCM Investments Holdings II LLC<br>4.875%, 5/1/29§ |  | 250000 |  | 200313 |  |
|  Lowe's Cos., Inc.<br>5.625%, 4/15/53 |  | 5096000 |  | 4827176 |  |
|  Sonic Automotive, Inc.<br>4.875%, 11/15/31§ |  | 237000 |  | 184268 |  |
|  Specialty Building Products Holdings LLC<br>6.375%, 9/30/26§ |  | 721000 |  | 578581 |  |
|  SRS Distribution, Inc.<br>4.625%, 7/1/28§ |  | 232000 |  | 205900 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/1/29§ |  | 312000 |  | 248040 |  |
|  White Cap Buyer LLC<br>6.875%, 10/15/28§ |  | 337000 |  | 291505 |  |
|  |  |  |  | 7683310 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | |
|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Value<br>(Note 1)** | |
|  ***Textiles, Apparel & Luxury Goods (0.0%)†*** | ***Textiles, Apparel & Luxury Goods (0.0%)†*** | ***Textiles, Apparel & Luxury Goods (0.0%)†*** | **** |
|  Crocs, Inc.<br>4.125%, 8/15/31§ | $212000 | $171190 |  |
|  Tapestry, Inc.<br>3.050%, 3/15/32 | 155000 | 121368 |  |
|  |  | 292558 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | 30992585 |  |
|  **Consumer Staples (1.1%)** | **Consumer Staples (1.1%)** |  |  |
|  ***Beverages (0.1%)*** | ***Beverages (0.1%)*** | ***Beverages (0.1%)*** | **** |
|  Coca-Cola Europacific Partners plc<br>0.800%, 5/3/24§ | 505000 | 474650 |  |
|  Primo Water Holdings, Inc.<br>4.375%, 4/30/29§ | 233000 | 202127 |  |
|  |  | 676777 |  |
|  ***Food & Staples Retailing (0.3%)*** | ***Food & Staples Retailing (0.3%)*** | ***Food & Staples Retailing (0.3%)*** | **** |
|  Performance Food Group, Inc.<br>6.875%, 5/1/25§ | 231000 | 230933 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/15/27§ | 115000 | 108875 |  |
|  United Natural Foods, Inc.<br>6.750%, 10/15/28§ | 300000 | 287250 |  |
|  US Foods, Inc.<br>6.250%, 4/15/25§ | 305000 | 301611 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 6/1/30§ | 297000 | 258390 |  |
|  Walgreens Boots Alliance, Inc.<br>0.950%, 11/17/23 | 770000 | 743545 |  |
|  |  | 1930604 |  |
|  ***Food Products (0.4%)*** | ***Food Products (0.4%)*** | ***Food Products (0.4%)*** | **** |
|  B&G Foods, Inc.<br>5.250%, 4/1/25 | 218000 | 189115 |  |
|  JBS USA LUX SA<br>5.750%, 4/1/33§ | 350000 | 332219 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/1/52§ | 665000 | 637779 |  |
|  Kraft Heinz Foods Co.<br>4.375%, 6/1/46 | 255000 | 207950 |  |
|  Mondelez International Holdings Netherlands BV<br>2.250%, 9/19/24§ | 240000 | 228121 |  |
|  Post Holdings, Inc.<br>5.750%, 3/1/27§ | 117000 | 112905 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 4/15/30§ | 137000 | 117841 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 9/15/31§ | 461000 | 389545 |  |
|  Sigma Holdco BV<br>7.875%, 5/15/26§ | 419000 | 295395 |  |
|  Simmons Foods, Inc.<br>4.625%, 3/1/29§ | 605000 | 494587 |  |
|  Viterra Finance BV<br>2.000%, 4/21/26§ | 225000 | 193762 |  |
|  |  | 3199219 |  |
|  ***Household Products (0.1%)*** | ***Household Products (0.1%)*** | ***Household Products (0.1%)*** | **** |
|  Central Garden & Pet Co.<br>4.125%, 10/15/30 | 76000 | 61940 |  |
|  Energizer Holdings, Inc.<br>4.750%, 6/15/28§ | 327000 | 282855 |  |
|  Kronos Acquisition Holdings, Inc.<br>7.000%, 12/31/27§ | 67000 | 54940 |  |
|  Spectrum Brands, Inc.<br>5.750%, 7/15/25 | 80000 | 79000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 7/15/30§ | 50000 | 44125 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 3/15/31§ | 284000 | 220810 |  |
|  |  | 743670 |  |
|  ***Personal Products (0.1%)*** | ***Personal Products (0.1%)*** | ***Personal Products (0.1%)*** | **** |
|  Herbalife Nutrition Ltd.<br>7.875%, 9/1/25§ | 389000 | 344565 |  |
|  Prestige Brands, Inc.<br>3.750%, 4/1/31§ | 410000 | 335175 |  |
|  |  | 679740 |  |
|  ***Tobacco (0.1%)*** | ***Tobacco (0.1%)*** | ***Tobacco (0.1%)*** | **** |
|  BAT Capital Corp.<br>4.700%, 4/2/27 | 225000 | 216792 |  |
|  Philip Morris International, Inc.<br>5.625%, 11/17/29 | 350000 | 355426 |  |
|  Reynolds American, Inc.<br>4.850%, 9/15/23 | 310000 | 308789 |  |
|  |  | 881007 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | 8111017 |  |
|  **Energy (3.2%)** | **Energy (3.2%)** |  |  |
|  ***Energy Equipment & Services (0.1%)*** | ***Energy Equipment & Services (0.1%)*** | ***Energy Equipment & Services (0.1%)*** | **** |
|  Precision Drilling Corp.<br>7.125%, 1/15/26§ | 195000 | 190613 |  |
|  ***Oil, Gas & Consumable Fuels (3.1%)*** | ***Oil, Gas & Consumable Fuels (3.1%)*** | ***Oil, Gas & Consumable Fuels (3.1%)*** | **** |
|  Aethon United BR LP<br>8.250%, 2/15/26§ | 325000 | 321750 |  |
|  Antero Resources Corp.<br>7.625%, 2/1/29§ | 63000 | 63584 |  |
|  Ascent Resources Utica Holdings LLC<br>7.000%, 11/1/26§ | 356000 | 344875 |  |
|  Blue Racer Midstream LLC<br>7.625%, 12/15/25§ | 259000 | 257078 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 7/15/26§ | 255000 | 247988 |  |
|  Chevron Corp.<br>1.141%, 5/11/23 | 325000 | 320921 |  |
|  Colgate Energy Partners III LLC<br>5.875%, 7/1/29§ | 98000 | 84158 |  |
|  Crescent Energy Finance LLC<br>7.250%, 5/1/26§ | 308000 | 290675 |  |
|  Crestwood Midstream Partners LP<br>5.625%, 5/1/27§ | 140000 | 130375 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 2/1/29§ | 509000 | 469553 |  |
|  CrownRock LP<br>5.625%, 10/15/25§ | 540000 | 519101 |  |
|  Delek Logistics Partners LP<br>6.750%, 5/15/25 | 380000 | 365735 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 6/1/28§ | 235000 | 210795 |  |
|  Devon Energy Corp.<br>7.875%, 9/30/31 | 580000 | 657391 |  |
|  Diamondback Energy, Inc.<br>6.250%, 3/15/33 | 3370000 | 3425586 |  |
|  Encino Acquisition Partners Holdings LLC<br>8.500%, 5/1/28§ | 249000 | 225967 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
|  Energean Israel Finance Ltd.<br>5.875%, 3/30/31 (m) | $| 4210000 | $| 3646386 |  |
|  Energy Transfer LP<br>3.600%, 2/1/23 |  | 245000 |  | 244582 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 2/15/33 |  | 250000 |  | 244393 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 7/1/38 |  | 170000 |  | 183223 |  |
|  Genesis Energy LP<br>8.000%, 1/15/27 |  | 311000 |  | 292409 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 2/1/28 |  | 672000 |  | 617104 |  |
|  Gray Oak Pipeline LLC<br>2.000%, 9/15/23§ |  | 335000 |  | 326639 |  |
|  Hess Corp.<br>7.875%, 10/1/29 |  | 200000 |  | 219922 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.300%, 8/15/31 |  | 360000 |  | 388555 |  |
|  Holly Energy Partners LP<br>6.375%, 4/15/27§ |  | 150000 |  | 147639 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 2/1/28§ |  | 255000 |  | 233644 |  |
|  Kinder Morgan Energy Partners LP<br>4.150%, 2/1/24 |  | 225000 |  | 222031 |  |
|  Kinetik Holdings LP<br>5.875%, 6/15/30§ |  | 423000 |  | 396682 |  |
|  MPLX LP<br>4.950%, 3/14/52 |  | 220000 |  | 181251 |  |
|  New Fortress Energy, Inc.<br>6.750%, 9/15/25§ |  | 4040000 |  | 3819578 |  |
|  NuStar Logistics LP<br>5.750%, 10/1/25 |  | 213000 |  | 205279 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/26 |  | 165000 |  | 159844 |  |
|  Occidental Petroleum Corp.<br>6.625%, 9/1/30 |  | 186000 |  | 192209 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 1/1/31 |  | 93000 |  | 93895 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.450%, 9/15/36 |  | 551000 |  | 562020 |  |
|  ONEOK, Inc.<br>7.150%, 1/15/51 |  | 120000 |  | 121562 |  |
|  Pioneer Natural Resources Co.<br>0.550%, 5/15/23 |  | 265000 |  | 260689 |  |
|  Plains All American Pipeline LP<br>2.850%, 1/31/23 |  | 335000 |  | 334486 |  |
|  Rockcliff Energy II LLC<br>5.500%, 10/15/29§ |  | 133000 |  | 121363 |  |
|  Sanchez Energy Corp.<br>6.125%, 1/15/23 (h) |  | 57000 |  | 784 |  |
|  Southwestern Energy Co.<br>7.750%, 10/1/27 |  | 204000 |  | 208529 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 2/1/32 |  | 252000 |  | 215356 |  |
|  Summit Midstream Holdings LLC<br>8.500%, 10/15/26§ |  | 488000 |  | 462087 |  |
|  Sunoco LP<br>4.500%, 4/30/30 |  | 637000 |  | 552948 |  |
|  Var Energi ASA<br>8.000%, 11/15/32§ |  | 435000 |  | 449778 |  |
|  Williams Cos., Inc. (The)<br>5.300%, 8/15/52 |  | 325000 |  | 291343 |  |
|  |  |  |  | 23331742 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  |  |  | 23522355 |  |
|  **Financials (13.2%)** | **Financials (13.2%)** | **Financials (13.2%)** |  |  |  |
|  ***Banks (6.8%)*** | ***Banks (6.8%)*** | ***Banks (6.8%)*** | ***Banks (6.8%)*** | ***Banks (6.8%)*** | **** |
|  ABN AMRO Bank NV |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%),<br>2.470%, 12/13/29 (k)§ |  | 400000 |  | 324215 |  |
|  AIB Group plc |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.46%), 7.583%, 10/14/26 (k)§ |  | 895000 |  | 912782 |  |
|  ANZ New Zealand Int'l Ltd.<br>2.166%, 2/18/25§ |  | 455000 |  | 427169 |  |
|  ASB Bank Ltd. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.25%),<br>5.284%, 6/17/32 (k)§ |  | 485000 |  | 456120 |  |
|  Bank of America Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.33%),<br>3.384%, 4/2/26 (k) |  | 730000 |  | 697349 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.99%),<br>6.204%, 11/10/28 (k) |  | 855000 |  | 880748 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 3.15%),<br>4.083%, 3/20/51 (k) |  | 8730000 |  | 6930396 |  |
|  Bank of Ireland Group plc | Bank of Ireland Group plc | Bank of Ireland Group plc | Bank of Ireland Group plc | Bank of Ireland Group plc |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.65%),<br>6.253%, 9/16/26 (k)§ |  | 365000 |  | 362400 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.10%),<br>2.029%, 9/30/27 (k)§ |  | 1105000 |  | 930297 |  |
|  Bank of Montreal |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series H 4.700%, 9/14/27 |  | 890000 |  | 880575 |  |
|  Bank of New Zealand<br>2.000%, 2/21/25§ |  | 250000 |  | 233740 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.285%, 1/27/27§ |  | 605000 |  | 538382 |  |
|  Banque Federative du Credit Mutuel SA<br>2.375%, 11/21/24§ |  | 240000 |  | 227226 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.753%, 7/13/27§ |  | 680000 |  | 661612 |  |
|  Barclays plc |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (ICE LIBOR USD 3 Month + 1.61%),<br>3.932%, 5/7/25 (k) |  | 240000 |  | 233102 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.65%),<br>5.501%, 8/9/28 (k) |  | 470000 |  | 457246 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.50%),<br>7.437%, 11/2/33 (k) |  | 875000 |  | 916962 |  |
|  BNP Paribas SA | BNP Paribas SA | BNP Paribas SA | BNP Paribas SA | BNP Paribas SA |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.22%),<br>2.159%, 9/15/29 (k)§ |  | 540000 |  | 441197 |  |
|  Canadian Imperial Bank of Commerce<br>3.945%, 8/4/25 |  | 890000 |  | 870001 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  Citigroup, Inc. | Citigroup, Inc. | Citigroup, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.67%),<br>1.678%, 5/15/24 (k) | $675000 | $665672 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.67%),<br>0.981%, 5/1/25 (k) | 115000 | 107798 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.94%),<br>3.785%, 3/17/33 (k) | 2920000 | 2509490 |
|  Citizens Financial Group, Inc. | Citizens Financial Group, Inc. | Citizens Financial Group, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.75%),<br>5.641%, 5/21/37 (k) | 690000 | 642976 |
|  Comerica Bank<br>2.500%, 7/23/24 | 250000 | 240060 |
|  Cooperatieve Rabobank UA | Cooperatieve Rabobank UA | Cooperatieve Rabobank UA |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.73%),<br>1.980%, 12/15/27 (k)§ | 510000 | 443328 |
|  Credit Agricole SA | Credit Agricole SA | Credit Agricole SA |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.68%),<br>1.907%, 6/16/26 (k)§ | 590000 | 538356 |
|  Danske Bank A/S | Danske Bank A/S | Danske Bank A/S |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.55%),<br>0.976%, 9/10/25 (k)§ | 1435000 | 1313099 |
|  DNB Bank ASA | DNB Bank ASA | DNB Bank ASA |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 0.85%),<br>1.127%, 9/16/26 (k)§ | 350000 | 308915 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 1.95%),<br>5.896%, 10/9/26 (k)§ | 1280000 | 1279555 |
|  Fifth Third Bancorp | Fifth Third Bancorp | Fifth Third Bancorp |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.19%),<br>6.361%, 10/27/28 (k) | 995000 | 1027563 |
|  HSBC Bank Canada<br>0.950%, 5/14/23§ | 350000 | 345037 |
|  HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.61%),<br>5.210%, 8/11/28 (k) | 465000 | 449354 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 4.25%),<br>8.113%, 11/3/33 (k) | 865000 | 919714 |
|  Huntington National Bank (The)<br>5.650%, 1/10/30 | 900000 | 911219 |
|  Intesa Sanpaolo SpA<br>7.000%, 11/21/25§ | 445000 | 453515 |
|  JPMorgan Chase & Co. | JPMorgan Chase & Co. | JPMorgan Chase & Co. |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.07%),<br>5.546%, 12/15/25 (k) | 1530000 | 1527751 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.08%),<br>4.912%, 7/25/33 (k) | 3710000 | 3513557 |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.58%),<br>3.328%, 4/22/52 (k) | 745000 | 507125 |
|  KeyBank NA<br>5.850%, 11/15/27 | 1110000 | 1141259 |
|  Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. | Mitsubishi UFJ Financial Group, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.90%),<br>5.354%, 9/13/28 (k) | 255000 | 252970 |
|  National Bank of Canada<br>0.750%, 8/6/24 | 1580000 | 1471169 |
|  National Securities Clearing Corp.<br>5.100%, 11/21/27§ | 640000 | 644665 |
|  NatWest Group plc | NatWest Group plc | NatWest Group plc |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.85%),<br>7.472%, 11/10/26 (k) | 620000 | 649849 |
|  NatWest Markets plc<br>2.375%, 5/21/23§ | 350000 | 345398 |
|  Nordea Bank Abp<br>1.500%, 9/30/26§ | 1105000 | 956650 |
|  PNC Financial Services Group, Inc. (The) | PNC Financial Services Group, Inc. (The) | PNC Financial Services Group, Inc. (The) |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.62%),<br>5.354%, 12/2/28 (k) | 725000 | 730184 |
| &nbsp;&nbsp;&nbsp;&nbsp; (United States SOFR Compounded Index + 2.14%),<br>6.037%, 10/28/33 (k) | 295000 | 309481 |
|  Royal Bank of Canada<br>6.000%, 11/1/27 | 835000 | 870482 |
|  Santander Holdings USA, Inc.<br>3.450%, 6/2/25 | 495000 | 471202 |
|  Santander UK Group Holdings plc | Santander UK Group Holdings plc | Santander UK Group Holdings plc |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.75%),<br>6.833%, 11/21/26 (k) | 900000 | 912486 |
|  Societe Generale SA<br>2.625%, 1/22/25§ | 240000 | 225026 |
|  Standard Chartered plc<br>3.950%, 1/11/23§ | 325000 | 324845 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 3.10%),<br>7.776%, 11/16/25 (k)§ | 440000 | 454522 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.18%),<br>2.608%, 1/12/28 (k)§ | 260000 | 225960 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 1.20%), 2.678%, 6/29/32 (k)§ | 375000 | 283320 |
|  Sumitomo Mitsui Financial Group, Inc.<br>1.902%, 9/17/28 | 795000 | 654786 |
|  Sumitomo Mitsui Trust Bank Ltd.<br>0.850%, 3/25/24§ | 320000 | 302933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.550%, 3/10/25§ | 365000 | 343646 |
|  Swedbank AB<br>5.337%, 9/20/27§ | 800000 | 793373 |
|  Truist Financial Corp. | Truist Financial Corp. | Truist Financial Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.86%),<br>1.887%, 6/7/29 (k) | 130000 | 109551 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.24%),<br>4.916%, 7/28/33 (k) | $| 330000 | $| 310117 |  |
|  UniCredit SpA | UniCredit SpA | UniCredit SpA | UniCredit SpA | UniCredit SpA |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.30%), 2.569%, 9/22/26 (k)§ |  | 350000 |  | 310545 |  |
|  US Bancorp | US Bancorp | US Bancorp | US Bancorp | US Bancorp |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.11%),<br>4.967%, 7/22/33 (k) |  | 305000 |  | 290437 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.09%),<br>5.850%, 10/21/33 (k) |  | 265000 |  | 276055 |  |
|  Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. | Wells Fargo & Co. |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.56%),<br>4.540%, 8/15/26 (k) |  | 895000 |  | 875812 |  |
|  Westpac Banking Corp.<br>5.457%, 11/18/27 |  | 1085000 |  | 1110988 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.68%), 5.405%, 8/10/33 (k) |  | 700000 |  | 655951 |  |
|  |  |  |  | 51389265 |  |
|  ***Capital Markets (2.3%)*** | ***Capital Markets (2.3%)*** | ***Capital Markets (2.3%)*** | ***Capital Markets (2.3%)*** | ***Capital Markets (2.3%)*** | **** |
|  Ares Capital Corp.<br>4.250%, 3/1/25 |  | 695000 |  | 659122 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 6/15/28 |  | 475000 |  | 382321 |  |
|  Ares Finance Co. IV LLC<br>3.650%, 2/1/52§ |  | 460000 |  | 284179 |  |
|  Aretec Escrow Issuer, Inc.<br>7.500%, 4/1/29§ |  | 171000 |  | 141075 |  |
|  Bain Capital Specialty Finance, Inc.<br>2.550%, 10/13/26 |  | 450000 |  | 370411 |  |
|  Bank of New York Mellon Corp. (The)<br>1.050%, 10/15/26 |  | 310000 |  | 269474 |  |
|  Barings BDC, Inc.<br>3.300%, 11/23/26 |  | 170000 |  | 145341 |  |
|  Blackstone Holdings Finance Co. LLC<br>5.900%, 11/3/27§ |  | 500000 |  | 505291 |  |
|  Blackstone Private Credit Fund<br>2.625%, 12/15/26 |  | 1105000 |  | 914390 |  |
|  Blackstone Secured Lending Fund<br>2.850%, 9/30/28 |  | 480000 |  | 373085 |  |
|  Blue Owl Finance LLC<br>4.375%, 2/15/32§ |  | 490000 |  | 389414 |  |
|  Credit Suisse AG<br>5.000%, 7/9/27 |  | 995000 |  | 907709 |  |
|  Credit Suisse Group AG |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.70%),<br>6.442%, 8/11/28 (k)§ |  | 990000 |  | 903181 |  |
|  Deutsche Bank AG | Deutsche Bank AG | Deutsche Bank AG | Deutsche Bank AG | Deutsche Bank AG |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 3.19%),<br>6.119%, 7/14/26 (k) |  | 350000 |  | 348452 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.371%, 9/9/27 |  | 655000 |  | 660307 |  |
|  FS KKR Capital Corp.<br>3.125%, 10/12/28 |  | 545000 |  | 437612 |  |
|  Goldman Sachs Group, Inc. (The)<br>5.700%, 11/1/24 |  | 510000 |  | 516406 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.91%),<br>1.948%, 10/21/27 (k) |  | 390000 |  | 341191 |  |
|  Golub Capital BDC, Inc.<br>2.500%, 8/24/26 |  | 3605000 |  | 3080430 |  |
|  Hercules Capital, Inc.<br>3.375%, 1/20/27 |  | 610000 |  | 522682 |  |
|  KKR Group Finance Co. XII LLC<br>4.850%, 5/17/32§ |  | 165000 |  | 154848 |  |
|  Macquarie Group Ltd. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 2.87%),<br>5.491%, 11/9/33 (k)§ |  | 315000 |  | 298317 |  |
|  Main Street Capital Corp.<br>3.000%, 7/14/26 |  | 615000 |  | 532700 |  |
|  Morgan Stanley Direct Lending Fund<br>4.500%, 2/11/27 |  | 340000 |  | 312649 |  |
|  Nomura Holdings, Inc.<br>2.329%, 1/22/27 |  | 1100000 |  | 966991 |  |
|  Owl Rock Capital Corp.<br>3.750%, 7/22/25 |  | 260000 |  | 240681 |  |
|  OWL Rock Core Income Corp.<br>5.500%, 3/21/25 |  | 395000 |  | 382995 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 9/16/27§ |  | 120000 |  | 119389 |  |
|  Owl Rock Technology Finance Corp.<br>4.750%, 12/15/25§ |  | 820000 |  | 746608 |  |
|  State Street Corp. |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.72%),<br>5.820%, 11/4/28 (k) |  | 215000 |  | 222447 |  |
|  UBS Group AG | UBS Group AG | UBS Group AG | UBS Group AG | UBS Group AG |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 1 Year + 2.05%), 4.703%, 8/5/27 (k)§ |  | 955000 |  | 924844 |  |
|  |  |  |  | 17054542 |  |
|  ***Consumer Finance (1.2%)*** | ***Consumer Finance (1.2%)*** | ***Consumer Finance (1.2%)*** | ***Consumer Finance (1.2%)*** | ***Consumer Finance (1.2%)*** | **** |
|  AerCap Ireland Capital DAC<br>3.150%, 2/15/24 |  | 155000 |  | 149904 |  |
|  Ally Financial, Inc.<br>4.750%, 6/9/27 |  | 730000 |  | 681671 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.100%, 11/15/27 |  | 610000 |  | 621761 |  |
|  American Express Co.<br>5.850%, 11/5/27 |  | 470000 |  | 488074 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.76%),<br>4.420%, 8/3/33 (k) |  | 665000 |  | 627394 |  |
|  American Honda Finance Corp.<br>2.250%, 1/12/29 |  | 230000 |  | 198355 |  |
|  Avolon Holdings Funding Ltd.<br>5.500%, 1/15/26§ |  | 390000 |  | 369824 |  |
|  Bread Financial Holdings, Inc.<br>4.750%, 12/15/24§ |  | 420000 |  | 370650 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 1/15/26§ |  | 294000 |  | 263130 |  |
|  Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. | Capital One Financial Corp. |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 0.69%),<br>1.343%, 12/6/24 (k) |  | 575000 |  | 550310 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.34%),<br>2.359%, 7/29/32 (k) |  | 245000 |  | 176539 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
| &nbsp;&nbsp;&nbsp;&nbsp; (SOFR + 1.27%),<br>2.618%, 11/2/32 (k) | $| 140000 | $| 107698 |  |
|  Curo Group Holdings Corp.<br>7.500%, 8/1/28§ |  | 449000 |  | 208359 |  |
|  Ford Motor Credit Co. LLC<br>4.000%, 11/13/30 |  | 410000 |  | 336106 |  |
|  General Motors Financial Co., Inc.<br>6.050%, 10/10/25 |  | 1075000 |  | 1093421 |  |
|  Hyundai Capital Services, Inc.<br>3.750%, 3/5/23§ |  | 325000 |  | 324048 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 4/24/25§ |  | 270000 |  | 246847 |  |
|  John Deere Capital Corp.<br>4.150%, 9/15/27 |  | 355000 |  | 348930 |  |
|  Synchrony Financial<br>4.875%, 6/13/25 |  | 800000 |  | 780624 |  |
|  Toyota Motor Credit Corp.<br>5.450%, 11/10/27 |  | 865000 |  | 887804 |  |
|  |  |  |  | 8831449 |  |
|  ***Diversified Financial Services (0.5%)*** | ***Diversified Financial Services (0.5%)*** | ***Diversified Financial Services (0.5%)*** | ***Diversified Financial Services (0.5%)*** | ***Diversified Financial Services (0.5%)*** | **** |
|  Antares Holdings LP<br>3.750%, 7/15/27§ |  | 625000 |  | 510806 |  |
|  Armor Holdco, Inc.<br>8.500%, 11/15/29§ |  | 206000 |  | 154757 |  |
|  Corebridge Global Funding<br>0.650%, 6/17/24§ |  | 460000 |  | 431391 |  |
|  Element Fleet Management Corp.<br>3.850%, 6/15/25§ |  | 110000 |  | 104234 |  |
|  Jackson Financial, Inc.<br>4.000%, 11/23/51 |  | 230000 |  | 147310 |  |
|  LSEGA Financing plc<br>0.650%, 4/6/24§ |  | 865000 |  | 814292 |  |
|  National Rural Utilities Cooperative Finance Corp.<br>1.650%, 6/15/31 |  | 70000 |  | 53441 |  |
|  ORIX Corp.<br>3.250%, 12/4/24 |  | 230000 |  | 221640 |  |
|  Shift4 Payments LLC<br>4.625%, 11/1/26§ |  | 478000 |  | 448722 |  |
|  Synchrony Bank<br>5.400%, 8/22/25 |  | 465000 |  | 461684 |  |
|  Verscend Escrow Corp.<br>9.750%, 8/15/26§ |  | 581000 |  | 569212 |  |
|  |  |  |  | 3917489 |  |
|  ***Insurance (1.9%)*** | ***Insurance (1.9%)*** | ***Insurance (1.9%)*** | ***Insurance (1.9%)*** | ***Insurance (1.9%)*** | **** |
|  Alliant Holdings Intermediate LLC<br>6.750%, 10/15/27§ |  | 434000 |  | 389802 |  |
|  AmWINS Group, Inc.<br>4.875%, 6/30/29§ |  | 222000 |  | 189810 |  |
|  Arthur J Gallagher & Co.<br>3.050%, 3/9/52 |  | 525000 |  | 326545 |  |
|  Assurant, Inc.<br>4.200%, 9/27/23 |  | 128000 |  | 126746 |  |
|  Athene Holding Ltd.<br>6.650%, 2/1/33 |  | 750000 |  | 744987 |  |
|  Brighthouse Financial Global Funding<br>0.600%, 6/28/23§ |  | 560000 |  | 546194 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 12/15/23§ |  | 335000 |  | 322657 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 1/13/25§ |  | 85000 |  | 78374 |  |
|  CNO Global Funding<br>2.650%, 1/6/29§ |  | 775000 |  | 662285 |  |
|  Everest Reinsurance Holdings, Inc.<br>3.125%, 10/15/52 |  | 785000 |  | 492672 |  |
|  F&G Global Funding<br>5.150%, 7/7/25§ |  | 485000 |  | 475198 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 9/20/28§ |  | 520000 |  | 425362 |  |
|  Fairfax Financial Holdings Ltd.<br>5.625%, 8/16/32§ |  | 205000 |  | 191079 |  |
|  GA Global Funding Trust<br>1.250%, 12/8/23§ |  | 255000 |  | 244164 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 1/6/27§ |  | 775000 |  | 682808 |  |
|  Great-West Lifeco US Finance 2020 LP<br>0.904%, 8/12/25§ |  | 160000 |  | 142408 |  |
|  Hill City Funding Trust<br>4.046%, 8/15/41§ |  | 350000 |  | 241700 |  |
|  HUB International Ltd.<br>7.000%, 5/1/26§ |  | 822000 |  | 803957 |  |
|  Jackson National Life Global Funding<br>1.750%, 1/12/25§ |  | 750000 |  | 695389 |  |
|  Marsh & McLennan Cos., Inc.<br>2.250%, 11/15/30 |  | 300000 |  | 245477 |  |
|  MassMutual Global Funding II<br>5.050%, 12/7/27§ |  | 960000 |  | 963821 |  |
|  Met Tower Global Funding<br>0.700%, 4/5/24§ |  | 860000 |  | 813751 |  |
|  Metropolitan Life Global Funding I<br>0.700%, 9/27/24§ |  | 710000 |  | 658063 |  |
|  Principal Life Global Funding II<br>0.750%, 4/12/24§ |  | 550000 |  | 519772 |  |
|  Protective Life Global Funding<br>0.502%, 4/12/23§ |  | 860000 |  | 848885 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.781%, 7/5/24§ |  | 630000 |  | 588339 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.714%, 7/6/27§ |  | 660000 |  | 639979 |  |
|  Reliance Standard Life Global Funding II<br>3.850%, 9/19/23§ |  | 150000 |  | 148806 |  |
|  RGA Global Funding<br>2.700%, 1/18/29§ |  | 590000 |  | 505553 |  |
|  Trustage Financial Group, Inc.<br>4.625%, 4/15/32§ |  | 290000 |  | 251296 |  |
|  |  |  |  | 13965879 |  |
|  ***Thrifts & Mortgage Finance (0.5%)*** | ***Thrifts & Mortgage Finance (0.5%)*** | ***Thrifts & Mortgage Finance (0.5%)*** | ***Thrifts & Mortgage Finance (0.5%)*** | ***Thrifts & Mortgage Finance (0.5%)*** | **** |
|  Freedom Mortgage Corp.<br>8.250%, 4/15/25§ |  | 491000 |  | 443235 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 5/1/26§ |  | 2260000 |  | 1909700 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 1/15/27§ |  | 218000 |  | 169844 |  |
|  Nationwide Building Society<br>4.850%, 7/27/27§ |  | 610000 |  | 593995 |  |
|  PHH Mortgage Corp.<br>7.875%, 3/15/26§ |  | 185000 |  | 164342 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
|  Rocket Mortgage LLC<br>2.875%, 10/15/26§ | $| 189000 | $| 162782 |  |
|  United Wholesale Mortgage LLC<br>5.500%, 4/15/29§ |  | 729000 |  | 579992 |  |
|  |  |  |  | 4023890 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  |  |  | 99182514 |  |
|  **Health Care (1.2%)** | **Health Care (1.2%)** | **Health Care (1.2%)** |  |  |  |
|  ***Biotechnology (0.0%)†*** | ***Biotechnology (0.0%)†*** | ***Biotechnology (0.0%)†*** | ***Biotechnology (0.0%)†*** | ***Biotechnology (0.0%)†*** | **** |
|  Grifols Escrow Issuer SA<br>4.750%, 10/15/28§ |  | 410000 |  | 354023 |  |
|  ***Health Care Equipment & Supplies (0.2%)*** | ***Health Care Equipment & Supplies (0.2%)*** | ***Health Care Equipment & Supplies (0.2%)*** | ***Health Care Equipment & Supplies (0.2%)*** | ***Health Care Equipment & Supplies (0.2%)*** | **** |
|  Garden Spinco Corp.<br>8.625%, 7/20/30§ |  | 219000 |  | 232140 |  |
|  GE HealthCare Technologies, Inc.<br>5.550%, 11/15/24§ |  | 620000 |  | 622500 |  |
|  Medline Borrower LP<br>3.875%, 4/1/29§ |  | 290000 |  | 233000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/1/29§ |  | 378000 |  | 299694 |  |
|  Varex Imaging Corp.<br>7.875%, 10/15/27§ |  | 374000 |  | 368390 |  |
|  |  |  |  | 1755724 |  |
|  ***Health Care Providers & Services (0.5%)*** | ***Health Care Providers & Services (0.5%)*** | ***Health Care Providers & Services (0.5%)*** | ***Health Care Providers & Services (0.5%)*** | ***Health Care Providers & Services (0.5%)*** | **** |
|  AdaptHealth LLC<br>6.125%, 8/1/28§ |  | 229000 |  | 212398 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 3/1/30§ |  | 250000 |  | 212210 |  |
|  Aetna, Inc.<br>2.800%, 6/15/23 |  | 325000 |  | 321566 |  |
|  AmerisourceBergen Corp.<br>0.737%, 3/15/23 |  | 191000 |  | 189457 |  |
|  CVS Health Corp.<br>4.300%, 3/25/28 |  | 38000 |  | 36732 |  |
|  HCA, Inc.<br>7.690%, 6/15/25 |  | 180000 |  | 188325 |  |
|  HealthEquity, Inc.<br>4.500%, 10/1/29§ |  | 602000 |  | 534961 |  |
|  Humana, Inc.<br>0.650%, 8/3/23 |  | 1100000 |  | 1070175 |  |
|  McKesson Corp.<br>1.300%, 8/15/26 |  | 245000 |  | 215459 |  |
|  Tenet Healthcare Corp.<br>4.875%, 1/1/26§ |  | 435000 |  | 409183 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 6/15/30§ |  | 220000 |  | 208219 |  |
|  US Acute Care Solutions LLC<br>6.375%, 3/1/26§ |  | 359000 |  | 315920 |  |
|  |  |  |  | 3914605 |  |
|  ***Health Care Technology (0.0%)†*** | ***Health Care Technology (0.0%)†*** | ***Health Care Technology (0.0%)†*** | ***Health Care Technology (0.0%)†*** | ***Health Care Technology (0.0%)†*** | **** |
|  IQVIA, Inc. 5.000%, 10/15/26§ |  | 200000 |  | 191000 |  |
|  ***Life Sciences Tools & Services (0.1%)*** | ***Life Sciences Tools & Services (0.1%)*** | ***Life Sciences Tools & Services (0.1%)*** | ***Life Sciences Tools & Services (0.1%)*** | ***Life Sciences Tools & Services (0.1%)*** | **** |
|  Illumina, Inc.<br>5.750%, 12/13/27 |  | 395000 |  | 398041 |  |
|  ***Pharmaceuticals (0.4%)*** | ***Pharmaceuticals (0.4%)*** | ***Pharmaceuticals (0.4%)*** | ***Pharmaceuticals (0.4%)*** | ***Pharmaceuticals (0.4%)*** | **** |
|  1375209 BC Ltd.<br>9.000%, 1/30/28§ |  | 99000 |  | 96154 |  |
|  Bausch Health Cos., Inc.<br>5.500%, 11/1/25§ |  | 493000 |  | 419193 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 9/30/28§ |  | 206000 |  | 161502 |  |
|  Bayer US Finance II LLC<br>3.375%, 7/15/24§ |  | 170000 |  | 164940 |  |
|  Catalent Pharma Solutions, Inc.<br>5.000%, 7/15/27§ |  | 484000 |  | 450672 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 4/1/30§ |  | 295000 |  | 232902 |  |
|  Cheplapharm Arzneimittel GmbH<br>5.500%, 1/15/28§ |  | 405000 |  | 337405 |  |
|  Johnson & Johnson<br>3.400%, 1/15/38 |  | 405000 |  | 348225 |  |
|  Organon & Co.<br>5.125%, 4/30/31§ |  | 200000 |  | 172868 |  |
|  P&L Development LLC<br>7.750%, 11/15/25§ |  | 277000 |  | 222985 |  |
|  |  |  |  | 2606846 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  |  |  | 9220239 |  |
|  **Industrials (2.2%)** | **Industrials (2.2%)** | **Industrials (2.2%)** |  |  |  |
|  ***Aerospace & Defense (0.2%)*** | ***Aerospace & Defense (0.2%)*** | ***Aerospace & Defense (0.2%)*** | ***Aerospace & Defense (0.2%)*** | ***Aerospace & Defense (0.2%)*** | **** |
|  Huntington Ingalls Industries, Inc.<br>0.670%, 8/16/23 |  | 1525000 |  | 1482191 |  |
|  Rolls-Royce plc<br>5.750%, 10/15/27§ |  | 200000 |  | 190500 |  |
|  |  |  |  | 1672691 |  |
|  ***Building Products (0.3%)*** | ***Building Products (0.3%)*** | ***Building Products (0.3%)*** | ***Building Products (0.3%)*** | ***Building Products (0.3%)*** | **** |
|  Advanced Drainage Systems, Inc.<br>6.375%, 6/15/30§ |  | 44000 |  | 42240 |  |
|  Camelot Return Merger Sub, Inc.<br>8.750%, 8/1/28§ |  | 181000 |  | 164483 |  |
|  CP Atlas Buyer, Inc.<br>7.000%, 12/1/28§ |  | 272000 |  | 202640 |  |
|  Fortune Brands Innovations, Inc.<br>4.500%, 3/25/52 |  | 580000 |  | 439281 |  |
|  JELD-WEN, Inc.<br>6.250%, 5/15/25§ |  | 207000 |  | 193545 |  |
|  New Enterprise Stone & Lime Co., Inc.<br>5.250%, 7/15/28§ |  | 232000 |  | 205320 |  |
|  Standard Industries, Inc.<br>4.375%, 7/15/30§ |  | 278000 |  | 225875 |  |
|  Summit Materials LLC<br>5.250%, 1/15/29§ |  | 316000 |  | 293580 |  |
|  |  |  |  | 1766964 |  |
|  ***Commercial Services & Supplies (0.6%)*** | ***Commercial Services & Supplies (0.6%)*** | ***Commercial Services & Supplies (0.6%)*** | ***Commercial Services & Supplies (0.6%)*** | ***Commercial Services & Supplies (0.6%)*** | **** |
|  ACCO Brands Corp.<br>4.250%, 3/15/29§ |  | 255000 |  | 209738 |  |
|  ADT Security Corp. (The)<br>4.125%, 6/15/23 |  | 136000 |  | 134300 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 7/15/32§ |  | 405000 |  | 344250 |  |
|  Allied Universal Holdco LLC<br>6.625%, 7/15/26§ |  | 612000 |  | 560745 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 7/15/27§ |  | 474000 |  | 410010 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/29§ | $| 48000 | $| 34920 |  |
|  Aramark Services, Inc.<br>5.000%, 4/1/25§ |  | 360000 |  | 350550 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 5/1/25§ |  | 304000 |  | 300738 |  |
|  Cimpress plc<br>7.000%, 6/15/26§ |  | 150000 |  | 104063 |  |
|  Garda World Security Corp.<br>9.500%, 11/1/27§ |  | 710000 |  | 674500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 6/1/29§ |  | 405000 |  | 329062 |  |
|  GFL Environmental, Inc.<br>5.125%, 12/15/26§ |  | 296000 |  | 282680 |  |
|  KAR Auction Services, Inc.<br>5.125%, 6/1/25§ |  | 220000 |  | 215050 |  |
|  Madison IAQ LLC<br>5.875%, 6/30/29§ |  | 125000 |  | 85625 |  |
|  Matthews International Corp.<br>5.250%, 12/1/25§ |  | 567000 |  | 533228 |  |
|  Neptune Bidco US, Inc.<br>9.290%, 4/15/29§ |  | 120000 |  | 113100 |  |
|  |  |  |  | 4682559 |  |
|  ***Construction & Engineering (0.1%)*** | ***Construction & Engineering (0.1%)*** | ***Construction & Engineering (0.1%)*** | ***Construction & Engineering (0.1%)*** | ***Construction & Engineering (0.1%)*** | **** |
|  Dycom Industries, Inc.<br>4.500%, 4/15/29§ |  | 393000 |  | 342898 |  |
|  Pike Corp.<br>5.500%, 9/1/28§ |  | 422000 |  | 368195 |  |
|  Weekley Homes LLC<br>4.875%, 9/15/28§ |  | 196000 |  | 164310 |  |
|  |  |  |  | 875403 |  |
|  ***Industrial Conglomerates (0.1%)*** | ***Industrial Conglomerates (0.1%)*** | ***Industrial Conglomerates (0.1%)*** | ***Industrial Conglomerates (0.1%)*** | ***Industrial Conglomerates (0.1%)*** | **** |
|  Honeywell International, Inc.<br>5.000%, 2/15/33 |  | 305000 |  | 309441 |  |
|  ***Machinery (0.2%)*** | ***Machinery (0.2%)*** | ***Machinery (0.2%)*** | ***Machinery (0.2%)*** | ***Machinery (0.2%)*** | **** |
|  ATS Corp.<br>4.125%, 12/15/28§ |  | 288000 |  | 250200 |  |
|  Chart Industries, Inc.<br>7.500%, 1/1/30§ |  | 247000 |  | 248062 |  |
|  CNH Industrial Capital LLC<br>3.950%, 5/23/25 |  | 795000 |  | 771721 |  |
|  Komatsu Finance America, Inc.<br>5.499%, 10/6/27§ |  | 385000 |  | 391665 |  |
|  |  |  |  | 1661648 |  |
|  ***Professional Services (0.1%)*** | ***Professional Services (0.1%)*** | ***Professional Services (0.1%)*** | ***Professional Services (0.1%)*** | ***Professional Services (0.1%)*** | **** |
|  Dun & Bradstreet Corp. (The)<br>5.000%, 12/15/29§ |  | 315000 |  | 270944 |  |
|  Science Applications International Corp.<br>4.875%, 4/1/28§ |  | 261000 |  | 239468 |  |
|  |  |  |  | 510412 |  |
|  ***Road & Rail (0.3%)*** | ***Road & Rail (0.3%)*** | ***Road & Rail (0.3%)*** | ***Road & Rail (0.3%)*** | ***Road & Rail (0.3%)*** | **** |
|  NESCO Holdings II, Inc.<br>5.500%, 4/15/29§ |  | 453000 |  | 397507 |  |
|  Ryder System, Inc.<br>3.350%, 9/1/25 |  | 160000 |  | 151365 |  |
|  Triton Container International Ltd.<br>0.800%, 8/1/23§ |  | 790000 |  | 763091 |  |
|  Watco Cos. LLC<br>6.500%, 6/15/27§ |  | 836000 |  | 794200 |  |
|  Williams Scotsman International, Inc.<br>6.125%, 6/15/25§ |  | 16000 |  | 15840 |  |
|  XPO Escrow Sub LLC<br>7.500%, 11/15/27§ |  | 309000 |  | 312450 |  |
|  |  |  |  | 2434453 |  |
|  ***Trading Companies & Distributors (0.3%)*** | ***Trading Companies & Distributors (0.3%)*** | ***Trading Companies & Distributors (0.3%)*** | ***Trading Companies & Distributors (0.3%)*** | ***Trading Companies & Distributors (0.3%)*** | **** |
|  Air Lease Corp.<br>1.875%, 8/15/26 |  | 300000 |  | 261409 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 12/15/27 |  | 755000 |  | 755035 |  |
|  Aircastle Ltd.<br>2.850%, 1/26/28§ |  | 450000 |  | 368894 |  |
|  Aviation Capital Group LLC<br>3.875%, 5/1/23§ |  | 325000 |  | 321801 |  |
|  WESCO Distribution, Inc.<br>7.125%, 6/15/25§ |  | 60000 |  | 60750 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 6/15/28§ |  | 480000 |  | 482400 |  |
|  |  |  |  | 2250289 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  |  |  | 16163860 |  |
|  **Information Technology (2.5%)** | **Information Technology (2.5%)** | **Information Technology (2.5%)** |  |  |  |
|  ***Communications Equipment (0.2%)*** | ***Communications Equipment (0.2%)*** | ***Communications Equipment (0.2%)*** | ***Communications Equipment (0.2%)*** | ***Communications Equipment (0.2%)*** | **** |
|  CommScope Technologies LLC<br>6.000%, 6/15/25§ |  | 267000 |  | 243042 |  |
|  CommScope, Inc.<br>6.000%, 3/1/26§ |  | 479000 |  | 441734 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 8.250%, 3/1/27§ |  | 287000 |  | 224098 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 9/1/29§ |  | 436000 |  | 348800 |  |
|  |  |  |  | 1257674 |  |
|  ***Electronic Equipment, Instruments & Components (0.2%)*** | ***Electronic Equipment, Instruments & Components (0.2%)*** | ***Electronic Equipment, Instruments & Components (0.2%)*** | ***Electronic Equipment, Instruments & Components (0.2%)*** | ***Electronic Equipment, Instruments & Components (0.2%)*** | **** |
|  Avnet, Inc.<br>5.500%, 6/1/32 |  | 275000 |  | 254447 |  |
|  CDW LLC<br>3.276%, 12/1/28 |  | 725000 |  | 617700 |  |
|  Coherent Corp.<br>5.000%, 12/15/29§ |  | 181000 |  | 158375 |  |
|  Flex Ltd.<br>6.000%, 1/15/28 |  | 370000 |  | 369408 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/15/29 |  | 50000 |  | 47078 |  |
|  Likewize Corp.<br>9.750%, 10/15/25§ |  | 249000 |  | 231259 |  |
|  Sensata Technologies, Inc.<br>3.750%, 2/15/31§ |  | 228000 |  | 188670 |  |
|  |  |  |  | 1866937 |  |
|  ***IT Services (0.3%)*** | ***IT Services (0.3%)*** | ***IT Services (0.3%)*** | ***IT Services (0.3%)*** | ***IT Services (0.3%)*** | **** |
|  Ahead DB Holdings LLC<br>6.625%, 5/1/28§ |  | 185000 |  | 148694 |  |
|  Black Knight InfoServ LLC<br>3.625%, 9/1/28§ |  | 172000 |  | 148866 |  |
|  DXC Technology Co.<br>2.375%, 9/15/28 |  | 790000 |  | 663805 |  |
|  Fidelity National Information Services, Inc.<br>5.625%, 7/15/52 |  | 340000 |  | 315732 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
|  Global Payments, Inc.<br>1.500%, 11/15/24 | $| 450000 | $| 418159 |  |
|  ION Trading Technologies Sarl<br>5.750%, 5/15/28§ |  | 200000 |  | 167500 |  |
|  Northwest Fiber LLC<br>6.000%, 2/15/28§ |  | 141000 |  | 108746 |  |
|  Presidio Holdings, Inc.<br>8.250%, 2/1/28§ |  | 74000 |  | 68598 |  |
|  Unisys Corp.<br>6.875%, 11/1/27§ |  | 410000 |  | 313486 |  |
|  Western Union Co. (The)<br>1.350%, 3/15/26 |  | 175000 |  | 153418 |  |
|  |  |  |  | 2507004 |  |
|  ***Semiconductors & Semiconductor Equipment (0.3%)*** | ***Semiconductors & Semiconductor Equipment (0.3%)*** | ***Semiconductors & Semiconductor Equipment (0.3%)*** | ***Semiconductors & Semiconductor Equipment (0.3%)*** | ***Semiconductors & Semiconductor Equipment (0.3%)*** | **** |
|  Broadcom, Inc.<br>4.000%, 4/15/29§ |  | 375000 |  | 340841 |  |
|  Marvell Technology, Inc.<br>4.200%, 6/22/23 |  | 165000 |  | 164084 |  |
|  Microchip Technology, Inc.<br>2.670%, 9/1/23 |  | 115000 |  | 112683 |  |
|  Micron Technology, Inc.<br>6.750%, 11/1/29 |  | 655000 |  | 666644 |  |
|  Qorvo, Inc.<br>1.750%, 12/15/24§ |  | 165000 |  | 150769 |  |
|  QUALCOMM, Inc.<br>5.400%, 5/20/33 |  | 620000 |  | 644526 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 5/20/52 |  | 350000 |  | 308892 |  |
|  |  |  |  | 2388439 |  |
|  ***Software (1.2%)*** | ***Software (1.2%)*** | ***Software (1.2%)*** | ***Software (1.2%)*** | ***Software (1.2%)*** | **** |
|  ACI Worldwide, Inc.<br>5.750%, 8/15/26§ |  | 373000 |  | 359013 |  |
|  AthenaHealth Group, Inc.<br>6.500%, 2/15/30§ |  | 508000 |  | 374650 |  |
|  Boxer Parent Co., Inc.<br>7.125%, 10/2/25§ |  | 300000 |  | 293352 |  |
|  Camelot Finance SA<br>4.500%, 11/1/26§ |  | 504000 |  | 471240 |  |
|  Central Parent, Inc.<br>7.250%, 6/15/29§ |  | 218000 |  | 213640 |  |
|  Clarivate Science Holdings Corp.<br>4.875%, 7/1/29§ |  | 614000 |  | 522115 |  |
|  Cloud Software Group Holdings, Inc.<br>6.500%, 3/31/29§ |  | 194000 |  | 164671 |  |
|  Condor Merger Sub, Inc.<br>7.375%, 2/15/30§ |  | 528000 |  | 425040 |  |
|  Gen Digital, Inc.<br>5.000%, 4/15/25§ |  | 322000 |  | 313950 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 9/30/30§ |  | 267000 |  | 262132 |  |
|  GoTo Group, Inc.<br>5.500%, 9/1/27§ |  | 331000 |  | 177876 |  |
|  Helios Software Holdings, Inc.<br>4.625%, 5/1/28§ |  | 334000 |  | 252587 |  |
|  Infor, Inc.<br>1.450%, 7/15/23§ |  | 80000 |  | 78095 |  |
|  NCR Corp.<br>5.000%, 10/1/28§ |  | 342000 |  | 292567 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 4/15/29§ |  | 501000 |  | 419222 |  |
|  Open Text Corp.<br>6.900%, 12/1/27§ |  | 330000 |  | 332475 |  |
|  Open Text Holdings, Inc.<br>4.125%, 12/1/31§ |  | 526000 |  | 408549 |  |
|  Oracle Corp.<br>5.800%, 11/10/25 |  | 75000 |  | 76626 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 7/15/36 |  | 170000 |  | 139672 |  |
|  Rocket Software, Inc.<br>6.500%, 2/15/29§ |  | 477000 |  | 376735 |  |
|  SS&C Technologies, Inc.<br>5.500%, 9/30/27§ |  | 885000 |  | 833759 |  |
|  VMware, Inc.<br>0.600%, 8/15/23 |  | 1500000 |  | 1455975 |  |
|  ZoomInfo Technologies LLC<br>3.875%, 2/1/29§ |  | 883000 |  | 743928 |  |
|  |  |  |  | 8987869 |  |
|  ***Technology Hardware, Storage & Peripherals (0.3%)*** | ***Technology Hardware, Storage & Peripherals (0.3%)*** | ***Technology Hardware, Storage & Peripherals (0.3%)*** | ***Technology Hardware, Storage & Peripherals (0.3%)*** | ***Technology Hardware, Storage & Peripherals (0.3%)*** | **** |
|  Dell International LLC<br>3.375%, 12/15/41§ |  | 2750000 |  | 1865935 |  |
|  Western Digital Corp.<br>3.100%, 2/1/32 |  | 65000 |  | 46840 |  |
|  |  |  |  | 1912775 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  |  |  | 18920698 |  |
|  **Materials (2.0%)** | **Materials (2.0%)** | **Materials (2.0%)** |  |  |  |
|  ***Chemicals (0.7%)*** | ***Chemicals (0.7%)*** | ***Chemicals (0.7%)*** | ***Chemicals (0.7%)*** | ***Chemicals (0.7%)*** | **** |
|  Avient Corp.<br>5.750%, 5/15/25§ |  | 150000 |  | 146723 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 8/1/30§ |  | 283000 |  | 278581 |  |
|  Axalta Coating Systems LLC<br>4.750%, 6/15/27§ |  | 300000 |  | 276750 |  |
|  Cabot Corp.<br>5.000%, 6/30/32 |  | 360000 |  | 334557 |  |
|  Diamond BC BV<br>4.625%, 10/1/29§ |  | 79000 |  | 63398 |  |
|  Ecolab, Inc.<br>5.250%, 1/15/28 |  | 375000 |  | 382179 |  |
|  HB Fuller Co.<br>4.250%, 10/15/28 |  | 308000 |  | 272580 |  |
|  Illuminate Buyer LLC<br>9.000%, 7/1/28§ |  | 822000 |  | 687397 |  |
|  INEOS Quattro Finance 2 plc<br>3.375%, 1/15/26§ |  | 200000 |  | 180000 |  |
|  LSF11 A5 HoldCo LLC<br>6.625%, 10/15/29§ |  | 244000 |  | 200826 |  |
|  Minerals Technologies, Inc.<br>5.000%, 7/1/28§ |  | 459000 |  | 413100 |  |
|  NOVA Chemicals Corp.<br>4.875%, 6/1/24§ |  | 148000 |  | 143005 |  |
|  Nufarm Australia Ltd.<br>5.000%, 1/27/30§ |  | 263000 |  | 229467 |  |
|  Nutrien Ltd.<br>5.900%, 11/7/24 |  | 280000 |  | 283492 |  |
|  Olin Corp.<br>5.625%, 8/1/29 |  | 298000 |  | 282787 |  |
|  Olympus Water US Holding Corp.<br>4.250%, 10/1/28§ |  | 402000 |  | 323730 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 10/1/29§ |  | 200000 |  | 152000 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
|  WR Grace Holdings LLC<br>5.625%, 8/15/29§ | $| 529000 | $| 426385 |  |
|  |  |  |  | 5076957 |  |
|  ***Containers & Packaging (0.7%)*** | ***Containers & Packaging (0.7%)*** | ***Containers & Packaging (0.7%)*** | ***Containers & Packaging (0.7%)*** | ***Containers & Packaging (0.7%)*** | **** |
|  Amcor Flexibles North America, Inc.<br>4.000%, 5/17/25 |  | 280000 |  | 271859 |  |
|  ARD Finance SA<br>6.500%, 6/30/27 PIK§ |  | 410000 |  | 282885 |  |
|  Ardagh Metal Packaging Finance USA LLC<br>4.000%, 9/1/29§ |  | 210000 |  | 165900 |  |
|  Ardagh Packaging Finance plc<br>4.125%, 8/15/26§ |  | 400000 |  | 345240 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 8/15/27§ |  | 200000 |  | 150068 |  |
|  Ball Corp.<br>6.875%, 3/15/28 |  | 296000 |  | 303501 |  |
|  Clydesdale Acquisition Holdings, Inc.<br>8.750%, 4/15/30§ |  | 324000 |  | 278640 |  |
|  Crown Americas LLC<br>5.250%, 4/1/30§ |  | 432000 |  | 408464 |  |
|  Intelligent Packaging Ltd. Finco, Inc.<br>6.000%, 9/15/28§ |  | 371000 |  | 296336 |  |
|  LABL, Inc.<br>6.750%, 7/15/26§ |  | 298000 |  | 280865 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 7/15/27§ |  | 522000 |  | 476325 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/1/28§ |  | 189000 |  | 164434 |  |
|  Mauser Packaging Solutions Holding Co.<br>5.500%, 4/15/24§ |  | 539000 |  | 523504 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 4/15/25§ |  | 954000 |  | 881257 |  |
|  Owens-Brockway Glass Container, Inc.<br>6.625%, 5/13/27§ |  | 276000 |  | 268065 |  |
|  Trivium Packaging Finance BV<br>5.500%, 8/15/26 (e)§ |  | 450000 |  | 412875 |  |
|  |  |  |  | 5510218 |  |
|  ***Metals & Mining (0.6%)*** | ***Metals & Mining (0.6%)*** | ***Metals & Mining (0.6%)*** | ***Metals & Mining (0.6%)*** | ***Metals & Mining (0.6%)*** | **** |
|  ArcelorMittal SA<br>6.550%, 11/29/27 |  | 890000 |  | 897011 |  |
|  First Quantum Minerals Ltd.<br>7.500%, 4/1/25§ |  | 920000 |  | 895160 |  |
|  Kaiser Aluminum Corp.<br>4.500%, 6/1/31§ |  | 313000 |  | 251574 |  |
|  Nucor Corp.<br>3.950%, 5/23/25 |  | 330000 |  | 323007 |  |
|  Southern Copper Corp.<br>5.250%, 11/8/42 |  | 1750000 |  | 1667750 |  |
|  |  |  |  | 4034502 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  |  |  | 14621677 |  |
|  **Real Estate (1.0%)** | **Real Estate (1.0%)** | **Real Estate (1.0%)** |  |  |  |
|  ***Equity Real Estate Investment Trusts (REITs) (0.9%)*** | ***Equity Real Estate Investment Trusts (REITs) (0.9%)*** | ***Equity Real Estate Investment Trusts (REITs) (0.9%)*** | ***Equity Real Estate Investment Trusts (REITs) (0.9%)*** | ***Equity Real Estate Investment Trusts (REITs) (0.9%)*** | **** |
|  Boston Properties LP (REIT)<br>6.750%, 12/1/27 |  | 150000 |  | 154658 |  |
|  Digital Realty Trust LP (REIT)<br>5.550%, 1/15/28 |  | 750000 |  | 753605 |  |
|  Equinix, Inc. (REIT)<br>2.500%, 5/15/31 |  | 3408000 |  | 2746334 |  |
|  Extra Space Storage LP (REIT)<br>3.900%, 4/1/29 |  | 185000 |  | 167186 |  |
|  Hudson Pacific Properties LP (REIT)<br>5.950%, 2/15/28 |  | 665000 |  | 618725 |  |
|  Iron Mountain, Inc. (REIT)<br>5.000%, 7/15/28§ |  | 354000 |  | 318600 |  |
|  Office Properties Income Trust (REIT)<br>2.400%, 2/1/27 |  | 465000 |  | 348043 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 10/15/31 |  | 275000 |  | 183586 |  |
|  Park Intermediate Holdings LLC (REIT)<br>5.875%, 10/1/28§ |  | 283000 |  | 257236 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 5/15/29§ |  | 400000 |  | 337240 |  |
|  Piedmont Operating Partnership LP (REIT)<br>3.150%, 8/15/30 |  | 65000 |  | 49397 |  |
|  VICI Properties LP (REIT)<br>4.625%, 6/15/25§ |  | 248000 |  | 236887 |  |
|  XHR LP (REIT)<br>6.375%, 8/15/25§ |  | 291000 |  | 283545 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 6/1/29§ |  | 131000 |  | 108075 |  |
|  |  |  |  | 6563117 |  |
|  ***Real Estate Management & Development (0.1%)*** | ***Real Estate Management & Development (0.1%)*** | ***Real Estate Management & Development (0.1%)*** | ***Real Estate Management & Development (0.1%)*** | ***Real Estate Management & Development (0.1%)*** | **** |
|  Cushman & Wakefield US Borrower LLC<br>6.750%, 5/15/28§ |  | 328000 |  | 312548 |  |
|  Greystar Real Estate Partners LLC<br>5.750%, 12/1/25§ |  | 651000 |  | 633098 |  |
|  Howard Hughes Corp. (The)<br>4.375%, 2/1/31§ |  | 211000 |  | 169982 |  |
|  |  |  |  | 1115628 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  |  |  | 7678745 |  |
|  **Utilities (1.1%)** | **Utilities (1.1%)** | **Utilities (1.1%)** |  |  |  |
|  ***Electric Utilities (0.5%)*** | ***Electric Utilities (0.5%)*** | ***Electric Utilities (0.5%)*** | ***Electric Utilities (0.5%)*** | ***Electric Utilities (0.5%)*** | **** |
|  AEP Transmission Co. LLC | AEP Transmission Co. LLC | AEP Transmission Co. LLC | AEP Transmission Co. LLC | AEP Transmission Co. LLC |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series N<br>2.750%, 8/15/51 |  | 150000 |  | 96375 |  |
|  American Electric Power Co., Inc.<br>2.031%, 3/15/24 |  | 430000 |  | 413804 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.68%), 3.875%, 2/15/62 (k) |  | 395000 |  | 308100 |  |
|  Duke Energy Corp.<br>3.150%, 8/15/27 |  | 170000 |  | 157264 |  |
|  Edison International<br>4.700%, 8/15/25 |  | 950000 |  | 930166 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 11/15/29 |  | 265000 |  | 277525 |  |
|  Entergy Corp.<br>0.900%, 9/15/25 |  | 145000 |  | 129292 |  |
|  Interstate Power & Light Co.<br>3.100%, 11/30/51 |  | 355000 |  | 226338 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount** | **Value<br>(Note 1)** | **Value<br>(Note 1)** | |
|  New England Power Co.<br>2.807%, 10/6/50§ | $130000 | $| 80039 |  |
|  NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. | NextEra Energy Capital Holdings, Inc. |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.55%), 3.800%, 3/15/82 (k) | 315000 |  | 251080 |  |
|  Pacific Gas and Electric Co.<br>4.950%, 6/8/25 | 470000 |  | 462982 |  |
|  Public Service Electric & Gas Co.<br>2.700%, 5/1/50 | 40000 |  | 26008 |  |
|  Southwestern Public Service Co. | Southwestern Public Service Co. | Southwestern Public Service Co. | Southwestern Public Service Co. |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 8<br>3.150%, 5/1/50 | 75000 |  | 52344 |  |
|  Vistra Operations Co. LLC<br>5.125%, 5/13/25§ | 630000 |  | 617904 |  |
|  |  |  | 4029221 |  |
|  ***Gas Utilities (0.1%)*** | ***Gas Utilities (0.1%)*** | ***Gas Utilities (0.1%)*** | ***Gas Utilities (0.1%)*** | **** |
|  Southern California Gas Co.<br>6.350%, 11/15/52 | 260000 |  | 288431 |  |
|  Southwest Gas Corp.<br>3.180%, 8/15/51 | 405000 |  | 249235 |  |
|  |  |  | 537666 |  |
|  ***Independent Power and Renewable Electricity Producers (0.0%)†*** | ***Independent Power and Renewable Electricity Producers (0.0%)†*** | ***Independent Power and Renewable Electricity Producers (0.0%)†*** | ***Independent Power and Renewable Electricity Producers (0.0%)†*** | **** |
|  AES Corp. (The)<br>3.300%, 7/15/25§ | 110000 |  | 103809 |  |
|  ***Multi-Utilities (0.5%)*** | ***Multi-Utilities (0.5%)*** | ***Multi-Utilities (0.5%)*** | ***Multi-Utilities (0.5%)*** | **** |
|  Ameren Corp.<br>1.750%, 3/15/28 | 90000 |  | 76173 |  |
|  Dominion Energy, Inc.<br>5.375%, 11/15/32 | 1045000 |  | 1033504 |  |
|  DTE Energy Co.<br>4.220%, 11/1/24 (e) | 830000 |  | 814753 |  |
|  Public Service Enterprise Group, Inc.<br>5.850%, 11/15/27 | 620000 |  | 637967 |  |
|  Puget Energy, Inc.<br>4.224%, 3/15/32 | 245000 |  | 216522 |  |
|  Sempra Energy<br>3.700%, 4/1/29 | 255000 |  | 233834 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury Yield Curve Rate T Note Constant Maturity 5 Year + 2.87%), 4.125%, 4/1/52 (k) | 505000 |  | 400213 |  |
|  |  |  | 3412966 |  |
|  ***Water Utilities (0.0%)†*** | ***Water Utilities (0.0%)†*** | ***Water Utilities (0.0%)†*** | ***Water Utilities (0.0%)†*** | **** |
|  Solaris Midstream Holdings LLC<br>7.625%, 4/1/26§ | 400000 |  | 397500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Utilities** |  |  | 8481162 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Corporate Bonds** |  |  | 257093189 |  |
|  **Foreign Government Securities (12.5%)** | **Foreign Government Securities (12.5%)** | **Foreign Government Securities (12.5%)** | **Foreign Government Securities (12.5%)** |  |
|  Bonos de la Tesoreria<br>6.150%, 8/12/32 | 122140000 |  | 28275937 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Notas do Tesouro Nacional<br>10.000%, 1/1/33 | 61080000 |  | 10463916 |  |
|  Republic of Poland |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series<br>0432 1.750%, 4/25/32 | 102720000 |  | 15395515 |  |
|  Republic of South Africa |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series<br>2048 8.750%, 2/28/48 | 396800000 |  | 18255219 |  |
|  Titulos de Tesoreria | Titulos de Tesoreria | Titulos de Tesoreria | Titulos de Tesoreria |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series B<br>7.000%, 3/26/31 | &nbsp;&nbsp;&nbsp;&nbsp;126115000000 |  | 18365367 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 10/26/50 | 27200000000 |  | 3175227 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Government Securities** |  |  | 93931181 |  |
|  **Mortgage-Backed Securities (16.7%)** | **Mortgage-Backed Securities (16.7%)** | **Mortgage-Backed Securities (16.7%)** | **Mortgage-Backed Securities (16.7%)** |  |
|  FHLMC UMBS<br>4.000%, 6/1/38 | $8197 |  | 7956 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 8/1/48 | 115894 |  | 110786 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/1/48 | 6680 |  | 6377 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 2/1/49 | 52639 |  | 50241 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/49 | 248884 |  | 237079 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/1/49 | 6942 |  | 6605 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/50 | 363751 |  | 312517 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 6/1/50 | 391735 |  | 336315 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/1/50 | 276464 |  | 227868 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 3/1/52 | 3884550 |  | 3305853 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 4/1/52 | 6095317 |  | 5185368 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/52 | 2886553 |  | 2543560 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 7/1/52 | 15283226 |  | 14375679 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/52 | 2982973 |  | 2995149 |  |
|  FNMA UMBS<br>4.000%, 10/1/48 | 275160 |  | 262690 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 8/1/49 | 2228616 |  | 2060551 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/50 | 1785488 |  | 1589369 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/1/50 | 842491 |  | 749162 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 9/1/50 | 207411 |  | 177938 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 1/1/51 | 2860233 |  | 2643642 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/1/52 | 20757939 |  | 16992389 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 3/1/52 | 1179912 |  | 965872 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 3/1/52 | 2905372 |  | 2561050 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 4/1/52 | 2794838 |  | 2462742 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 5/1/52 | 2966757 |  | 2523860 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 5/1/52 | 2654124 |  | 2338749 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 6/1/52 | 15583874 |  | 14663344 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 7/1/52 | 2890829 |  | 2547327 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 11/1/52 | 17056110 |  | 16843429 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/1/52 | 7463088 |  | 7493552 |  |
|  GNMA<br>3.500%, 12/20/49 | 580886 |  | 542162 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/20/52 | 4281997 |  | 4248394 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 10/20/52 | 13347587 |  | 13433382 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Mortgage-Backed Securities** |  |  | 124800957 |  |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount** | **Value<br>(Note 1)** |
|  **U.S. Treasury Obligations (25.2%)** | **U.S. Treasury Obligations (25.2%)** | **U.S. Treasury Obligations (25.2%)** |
|  U.S. Treasury Bonds<br>1.750%, 8/15/41 | $15960000 | $11007513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 11/15/41 | 5505000 | 3961755 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 5/15/42 | 1800000 | 1590080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 8/15/42 | 3370000 | 3033317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 2/15/50 | 1975000 | 1319547 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 11/15/50 | 710000 | 427645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 2/15/51 | 1270000 | 816606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 5/15/51 | 7640000 | 5539590 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 8/15/51 | 14330000 | 9489183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 2/15/52 | 37615000 | 26456777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 5/15/52 | 53320000 | 43200419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 8/15/52 | 7260000 | 6055808 |
|  U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury 3 Month Bill Money Market Yield - 0.08%), 4.323%, 4/30/24 (k) | 2020000 | 2015312 |
| &nbsp;&nbsp;&nbsp;&nbsp; (US Treasury 3 Month Bill Money Market Yield + 0.04%), 4.435%, 7/31/24 (k) | 27730000 | 27685116 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/31/24 | 5255000 | 5241979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 10/31/27 | 18430000 | 18524458 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/30/27 | 5500000 | 5478030 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 8/15/32 | 9520000 | 8694495 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 8060000 | 8246842 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations** |  | 188784472 |
|  **Total Long-Term Debt Securities (96.6%)**<br> *(Cost $785,837,137)* |  | 723608446 |
|  **Total Investments in Securities (96.6%)**<br> *(Cost $785,837,137)* |  | 723608446 |
|  **Other Assets Less Liabilities (3.4%)** |  | 25738532 |
|  **Net Assets (100%)** |  | $749346978 |

---

*†* *Percent shown is less than 0.05%.* 

---

| | |
|:---|:---|
| *§* | *Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. At December 31, 2022, the market value of these securities amounted to $150,219,702 or 20.0% of net assets. Securities denoted with "§" but without "b" have been determined to be liquid under the guidelines established by the Board of Trustees. To the extent any securities might provide a right to demand registration, such rights have not been relied upon when determining liquidity.*  |

---

*(e)* *Step Bond – Coupon rate increases or decreases in increments to maturity. Rate disclosed is as of December 31, 2022. Maturity date disclosed is the ultimate maturity date.* 

*(h)* *Defaulted security. A security is classified as defaulted if the issuer files for bankruptcy or fails to make a scheduled interest or principal payment within the grace period set forth in the security's governing documents.* 

*(k)* *Variable or floating rate security, linked to the referenced benchmark. The interest rate shown was the current rate as of December 31, 2022.* 

*(l)* *Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of December 31, 2022.* 

*(m)* *Regulation S is an exemption for securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. Resale restrictions may apply for purposes of the Securities Act of 1933. At December 31, 2022, the market value or fair value, as applicable, of these securities amounted to $3,646,386 or 0.5% of net assets.* 

*Glossary:* 

*BRL* *— Brazilian Real* 

*CAD* *— Canadian Dollar* 

*CLP* *— Chilean Peso* 

*COP* *— Colombian Peso* 

*EUR* *— European Currency Unit* 

*FHLMC* *— Federal Home Loan Mortgage Corp.* 

*FNMA* *— Federal National Mortgage Association* 

*GNMA* *— Government National Mortgage Association* 

*HUF* *— Hungarian Forint* 

*ICE* *— Intercontinental Exchange* 

*JPY* *— Japanese Yen* 

*KRW* *— Korean (South) Won* 

*LIBOR* *— London Interbank Offered Rate* 

*MXN* *— Mexican Peso* 

*NOK* *— Norwegian Krone* 

*NZD* *— New Zealand Dollar* 

*PIK* *— Payment-in Kind Security* 

*PEN* *— Peruvian Sol* 

*PLN* *— Polish Zloty* 

*REIT* *— Real Estate Investment Trust* 

*SEK* *— Swedish Krona* 

*SOFR* *— Secured Overnight Financing Rate* 

*THB* *— Thailand Baht* 

*UMBS* *— Uniform Mortgage-Backed Securities* 

*USD* *— United States Dollar* 

*ZAR* *— South African Rand* 

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Country Diversification**<br> As a Percentage of Total Net Assets | &nbsp;&nbsp;&nbsp; **Country Diversification**<br> As a Percentage of Total Net Assets | |
| &nbsp;&nbsp;&nbsp; Australia | 0.3 | % |
| &nbsp;&nbsp;&nbsp; Bermuda | 0.1 |  |
| &nbsp;&nbsp;&nbsp; Brazil | 1.4 |  |
| &nbsp;&nbsp;&nbsp; Canada | 1.3 |  |
| &nbsp;&nbsp;&nbsp; China | 0.0 | # |
| &nbsp;&nbsp;&nbsp; Colombia | 2.9 |  |
| &nbsp;&nbsp;&nbsp; Denmark | 0.2 |  |
| &nbsp;&nbsp;&nbsp; Finland | 0.1 |  |
| &nbsp;&nbsp;&nbsp; France | 0.3 |  |
| &nbsp;&nbsp;&nbsp; Germany | 0.3 |  |
| &nbsp;&nbsp;&nbsp; Ireland | 0.4 |  |
| &nbsp;&nbsp;&nbsp; Israel | 0.5 |  |
| &nbsp;&nbsp;&nbsp; Italy | 0.1 |  |
| &nbsp;&nbsp;&nbsp; Japan | 0.4 |  |
| &nbsp;&nbsp;&nbsp; Luxembourg | 0.2 |  |
| &nbsp;&nbsp;&nbsp; Mexico | 0.2 |  |
| &nbsp;&nbsp;&nbsp; Netherlands | 0.3 |  |
| &nbsp;&nbsp;&nbsp; New Zealand | 0.2 |  |
| &nbsp;&nbsp;&nbsp; Norway | 0.3 |  |
| &nbsp;&nbsp;&nbsp; Peru | 3.8 |  |
| &nbsp;&nbsp;&nbsp; Poland | 2.1 |  |
| &nbsp;&nbsp;&nbsp; South Africa | 2.4 |  |
| &nbsp;&nbsp;&nbsp; South Korea | 0.1 |  |
| &nbsp;&nbsp;&nbsp; Spain | 0.1 |  |
| &nbsp;&nbsp;&nbsp; Sweden | 0.1 |  |
| &nbsp;&nbsp;&nbsp; Switzerland | 0.4 |  |
| &nbsp;&nbsp;&nbsp; United Arab Emirates | 0.0 | # |
| &nbsp;&nbsp;&nbsp; United Kingdom | 1.3 |  |
| &nbsp;&nbsp;&nbsp; United States | 76.7 |  |
| &nbsp;&nbsp;&nbsp; Zambia | 0.1 |  |
| &nbsp;&nbsp;&nbsp; Cash and Other | 3.4 |  |
|  | 100.0 | % |

---

*#* *Percent shown is less than 0.05%.* 

------

Futures contracts outstanding as of December 31, 2022 (Note 1):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration<br>Date** | **Trading<br>Currency** | **Notional<br>Amount ($)** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation)<br>($)** |
|  **Long Contracts** | **Long Contracts** | **Long Contracts** | **Long Contracts** | **Long Contracts** | **Long Contracts** |
|  U.S. Treasury 5 Year Note | 100 | 3/2023 | USD | 10792969 | (16912) |
|  U.S. Treasury 10 Year Note | 377 | 3/2023 | USD | 42335922 | (801466) |
|  U.S. Treasury Ultra Bond | 508 | 3/2023 | USD | 68230750 | (1899025) |
|  |  |  |  |  | (2717403) |
|  **Short Contracts** | **Short Contracts** | **Short Contracts** | **Short Contracts** | **Short Contracts** | **Short Contracts** |
|  Canada 10 Year Bond | (122) | 3/2023 | CAD | (11042171) | 208862 |
|  Japan 10 Year Bond | (192) | 3/2023 | JPY | (212803414) | 3211437 |
|  |  |  |  |  | 3420299 |
|  |  |  |  |  | 702896 |

---

Forward Foreign Currency Contracts outstanding as of December 31, 2022 (Note 1):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)<br>($)** |
| BRL | 131280000 | USD | 24436749 | HSBC Bank plc<sup>\*\*</sup> | 1/19/2023 | 349836 |
| PLN | 35700000 | USD | 7159905 | Citibank NA | 1/20/2023 | 977535 |
| PLN | 6300000 | USD | 1375747 | Morgan Stanley | 1/20/2023 | 60272 |
| USD | 4967845 | CAD | 6600000 | Barclays Bank plc | 1/25/2023 | 92892 |
| USD | 2013314 | CAD | 2680000 | HSBC Bank plc | 1/25/2023 | 33788 |
| COP | 33950000000 | USD | 6892925 | JPMorgan Chase Bank<sup>\*\*</sup> | 1/27/2023 | 78300 |
| USD | 1659138 | COP | 8080000000 | JPMorgan Chase Bank<sup>\*\*</sup> | 1/27/2023 | 6 |
| MXN | 164000000 | USD | 8225609 | Goldman Sachs Bank USA | 1/31/2023 | 144766 |
| MXN | 169000000 | USD | 8375957 | JPMorgan Chase Bank | 1/31/2023 | 249613 |
| MXN | 13600000 | USD | 693639 | Morgan Stanley | 1/31/2023 | 490 |
| EUR | 3680000 | USD | 3896835 | Morgan Stanley | 2/3/2023 | 51017 |
| SEK | 161400000 | USD | 14727621 | HSBC Bank plc | 2/6/2023 | 770845 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)<br>($)** |
| ZAR | 129700000 | USD | 7480980 | HSBC Bank plc | 2/15/2023 | 123417 |
| HUF | 3020000000 | USD | 7512438 | Goldman Sachs Bank USA | 2/23/2023 | 466934 |
| HUF | 3080000000 | USD | 7860151 | Morgan Stanley | 2/23/2023 | 277751 |
| HUF | 2790000000 | USD | 6821594 | National Australia Bank Ltd. | 2/23/2023 | 550077 |
| CLP | 13890000000 | USD | 15284648 | HSBC Bank plc<sup>\*\*</sup> | 3/6/2023 | 965986 |
| KRW | 24430000000 | USD | 18790140 | Citibank NA<sup>\*\*</sup> | 3/8/2023 | 561425 |
| THB | 786100000 | USD | 22785507 | HSBC Bank plc | 3/10/2023 | 55204 |
| USD | 11482528 | THB | 394000000 | HSBC Bank plc | 3/10/2023 | 34570 |
| JPY | 2016000000 | USD | 15415083 | JPMorgan Chase Bank | 3/14/2023 | 90164 |
| NZD | 12720000 | USD | 8070904 | Goldman Sachs Bank USA | 3/20/2023 | 11524 |
| USD | 30580489 | NZD | 47870000 | Goldman Sachs Bank USA | 3/20/2023 | 163364 |
|  Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation | Total unrealized appreciation |  | 6109776 |
| USD | 24150494 | BRL | 131280000 | HSBC Bank plc<sup>\*\*</sup> | 1/19/2023 | (636091) |
| USD | 6656528 | PLN | 30640000 | Goldman Sachs Bank USA | 1/20/2023 | (327538) |
| USD | 10963515 | PLN | 48530000 | HSBC Bank plc | 1/20/2023 | (98388) |
| USD | 6992035 | PLN | 31690000 | Morgan Stanley | 1/20/2023 | (231368) |
| CAD | 33820000 | USD | 25231274 | Goldman Sachs Bank USA | 1/25/2023 | (250834) |
| CAD | 24010000 | USD | 18007613 | Morgan Stanley | 1/25/2023 | (273125) |
| USD | 35265490 | CAD | 48550000 | Goldman Sachs Bank USA | 1/25/2023 | (594958) |
| COP | 25970000000 | USD | 5349951 | JPMorgan Chase Bank<sup>\*\*</sup> | 1/27/2023 | (17323) |
| USD | 17484415 | COP | 87020000000 | JPMorgan Chase Bank<sup>\*\*</sup> | 1/27/2023 | (384097) |
| MXN | 191700000 | USD | 9819040 | Barclays Bank plc | 1/31/2023 | (34888) |
| USD | 6439714 | MXN | 130800000 | Citibank NA | 1/31/2023 | (236170) |
| USD | 6261653 | MXN | 124600000 | JPMorgan Chase Bank | 1/31/2023 | (97791) |
| USD | 7445780 | MXN | 147900000 | Morgan Stanley | 1/31/2023 | (102869) |
| USD | 3182855 | EUR | 3170000 | Barclays Bank plc | 2/3/2023 | (217877) |
| USD | 532950 | EUR | 510000 | HSBC Bank plc | 2/3/2023 | (14171) |
| USD | 19293660 | EUR | 18000000 | Morgan Stanley | 2/3/2023 | (16488) |
| SEK | 27400000 | USD | 2634944 | HSBC Bank plc | 2/6/2023 | (3853) |
| USD | 17869785 | SEK | 188800000 | Morgan Stanley | 2/6/2023 | (259771) |
| USD | 16872348 | PEN | 67320000 | HSBC Bank plc<sup>\*\*</sup> | 2/7/2023 | (792010) |
| USD | 1488504 | ZAR | 25800000 | Barclays Bank plc | 2/15/2023 | (24167) |
| USD | 9180633 | ZAR | 159900000 | HSBC Bank plc | 2/15/2023 | (194411) |
| USD | 3330447 | CLP | 3000000000 | HSBC Bank plc<sup>\*\*</sup> | 3/6/2023 | (179409) |
| USD | 7302716 | KRW | 9280000000 | Citibank NA<sup>\*\*</sup> | 3/8/2023 | (48185) |
| USD | 11315038 | THB | 392100000 | HSBC Bank plc | 3/10/2023 | (77715) |
| USD | 11397827 | JPY | 1538000000 | JPMorgan Chase Bank | 3/14/2023 | (431077) |
| USD | 3545593 | JPY | 478000000 | Morgan Stanley | 3/14/2023 | (130751) |
| NOK | 187100000 | USD | 19283994 | Morgan Stanley | 3/20/2023 | (123151) |
| USD | 7310454 | NZD | 11580000 | Goldman Sachs Bank USA | 3/20/2023 | (47605) |
|  Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation | Total unrealized depreciation |  | (5846081) |
|  Net unrealized appreciation | Net unrealized appreciation | Net unrealized appreciation | Net unrealized appreciation | Net unrealized appreciation |  | 263695 |

---

*\*\** *Non-deliverable forward.* 

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** | **Assets:** | **Assets:** | **Assets:** | **Assets:** |
|  **Asset-Backed Securities** | $— | $34482425 | $— | $34482425 |
|  **Collateralized Mortgage Obligation** |  | 1853684 |  | 1853684 |
|  **Commercial Mortgage-Backed Securities** |  | 20852788 |  | 20852788 |
|  **Convertible Bonds** |  |  |  |  |
|  Information Technology |  | 1809750 |  | 1809750 |
|  **Corporate Bonds** |  |  |  |  |
|  Communication Services |  | 20198337 |  | 20198337 |
|  Consumer Discretionary |  | 30992585 |  | 30992585 |
|  Consumer Staples |  | 8111017 |  | 8111017 |
|  Energy |  | 23522355 |  | 23522355 |
|  Financials |  | 99182514 |  | 99182514 |
|  Health Care |  | 9220239 |  | 9220239 |
|  Industrials |  | 16163860 |  | 16163860 |
|  Information Technology |  | 18920698 |  | 18920698 |
|  Materials |  | 14621677 |  | 14621677 |
|  Real Estate |  | 7678745 |  | 7678745 |
|  Utilities |  | 8481162 |  | 8481162 |
|  **Foreign Government Securities** |  | 93931181 |  | 93931181 |
|  **Forward Currency Contracts** |  | 6109776 |  | 6109776 |
|  **Futures** | 3420299 |  |  | 3420299 |
|  **Mortgage-Backed Securities** |  | 124800957 |  | 124800957 |
|  **U.S. Treasury Obligations** |  | 188784472 |  | 188784472 |
|  **Total Assets** | $**3420299** | $**729718222** | $**—** | $**733138521** |
|  **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** |
|  **Forward Currency Contracts** | $— | $(5846081) | $— | $(5846081) |
|  **Futures** | (2717403) |  |  | (2717403) |
|  **Total Liabilities** | $**(2717403)** | $**(5846081)** | $**—** | $**(8563484)** |
|  **Total** | $**702896** | $**723872141** | $**—** | $**724575037** |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

Fair Values of Derivative Instruments as of December 31, 2022:

---

| | | |
|:---|:---|:---|
|  | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| **Derivatives Contracts^** | **Asset Derivatives** | **Fair Value** |
|  Interest rate contracts | Receivables, Net assets – Unrealized appreciation | $3420299 |
|  Foreign exchange contracts | Receivables | 6109776 |
|  **Total** |  | $9530075 |
|  | **Liability Derivatives** |  |
|  Interest rate contracts | Payables, Net assets – Unrealized depreciation | $(2717403) |
|  Foreign exchange contracts | Payables | (5846081) |
|  **Total** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8563484 |

---

\* Includes cumulative appreciation/depreciation of futures contracts as reported in the Portfolio of Investments. Only variation margin is reported within the Statement of Assets & Liabilities.

The Effect of Derivative Instruments on the Statement of Operations for the year ended December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Amount of Realized Gain or (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain or (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain or (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain or (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain or (Loss) on Derivatives Recognized in Income** |
| **Derivatives Contracts^** | **Futures** | **Forward<br>Foreign<br>Currency<br>Contracts** | **Swaps** | **Total** |
|  Interest rate contracts | $(12887587) | $— | $(573213) | $(13460800) |
|  Foreign exchange contracts |  | 2675622 |  | 2675622 |
|  Credit contracts |  |  | 769125 | 769125 |
|  **Total** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12887587) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675622 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195912 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10016053) |
| **Amount of Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income** | **Amount of Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income** | **Amount of Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income** | **Amount of Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income** | **Amount of Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income** |
| **Derivatives Contracts^** | **Futures** | **Forward<br>Foreign<br>Currency<br>Contracts** | **Swaps** | **Total** |
|  Interest rate contracts | $702896 | $— | $4514206 | $5217102 |
|  Foreign exchange contracts |  | 1813831 |  | 1813831 |
|  Credit contracts |  |  | (247843) | (247843) |
|  **Total** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702896 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813831 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4266363 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6783090 |

---

^ The Portfolio held forward foreign currency contracts, futures contracts and swaps contracts as a substitute for investing in conventional securities, hedging and in an attempt to enhance returns.

The Portfolio held swap contracts with an average notional balance of approximately $102,547,000 for eight months, futures contracts with an

average notional balance of approximately $129,626,000 for eleven months and forward foreign currency contracts with an average settlement

value of approximately $485,447,000, during the year ended December 31, 2022.

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

The following table presents the Portfolio's gross derivative assets and liabilities by counterparty net of amounts available for offset under netting arrangements and any related collateral received or pledged by the Portfolio as of December 31, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amount of<br>Derivative Assets<br>Presented in the<br>Statement of Assets<br>and Liabilities (a)** | **Derivatives<br>Available for<br>Offset** | **Collateral<br>Received** | **Net Amount Due<br>from Counterparty** |
|  Barclays Bank plc | $92892 | $(92892) | $— | $— |
|  Citibank NA | 1538960 | (284355) | (270000) | 984605 |
|  Goldman Sachs Bank USA | 786588 | (786588) |  |  |
|  HSBC Bank plc | 2333646 | (1996048) |  | 337598 |
|  JPMorgan Chase Bank | 418083 | (418083) |  |  |
|  Morgan Stanley | 389530 | (389530) |  |  |
|  National Australia Bank Ltd. | 550077 |  |  | 550077 |
|  **Total** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6109776 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3967496) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(270000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1872280 |
| **Counterparty** | **Gross Amount of<br>Derivative Liabilities<br>Presented in the<br>Statement of Assets<br>and Liabilities (a)** | **Derivatives<br>Available for<br>Offset** | **Collateral\*<br>Pledged** | **Net Amount Due<br>to Counterparty** |
|  Barclays Bank plc | $276932 | $(92892) | $— | $184040 |
|  Citibank NA | 284355 | (284355) |  |  |
|  Goldman Sachs Bank USA | 1220935 | (786588) |  | 434347 |
|  HSBC Bank plc | 1996048 | (1996048) |  |  |
|  JPMorgan Chase Bank | 930288 | (418083) | (430000) | 82205 |
|  Morgan Stanley | 1137523 | (389530) |  | 747993 |
|  **Total** | $5846081 | $(3967496) | $(430000) | $1448585 |

---

*(a)* *For financial reporting purposes the Portfolio does not offset derivative assets and derivative liabilities subject to master netting arrangements in the Statement of Assets and Liabilities.* 

*\** *The table above does not include the additional collateral pledged to the counterparty. Total additional collateral pledged is $410,000.* 

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $743636394 |
|  Long-term U.S. government debt securities | 616872667 |
|  | $1360509061 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $631151999 |
|  Long-term U.S. government debt securities | 633834156 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264986155 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $14069667 |
|  Aggregate gross unrealized depreciation | (74726662) |
|  Net unrealized depreciation | $(60656995) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785232032 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value<br>(Cost $785,837,137) | $723608446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 6086906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign cash (Cost $18) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash held as collateral at broker for futures | 360000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash held as collateral for forward foreign currency contracts | 840000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due from Custodian | 19875687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends, interest and other receivables | 9281878 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due from broker for futures variation margin | 8318852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on forward foreign currency contracts | 6109776 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for securities sold | 1330267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 297629 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 5118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 776114578 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for securities purchased | 19875687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on forward foreign currency contracts | 5846081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 326975 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for return of cash collateral on forward foreign currency contracts | 270000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 127173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 84132 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 39327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class A | 29707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 168489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 26767600 |
|  **NET ASSETS** | $749346978 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $874743267 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (125396289) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $749346978 |
|  **Class A** |  |
|  Net asset value, offering and redemption price per share, $137,579,660 / 40,114,418 shares outstanding (unlimited amount authorized: $0.01 par value) | $3.43 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $182,542,047 / 53,422,421 shares outstanding (unlimited amount authorized: $0.01 par value) | $3.42 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $429,225,271 / 124,674,074 shares outstanding (unlimited amount authorized: $0.01 par value) | $3.44 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest (net of $52,534 foreign withholding tax) | $25197555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 25197555 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 4173844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 858731 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class A | 348713 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 256651 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 221000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 118304 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 55668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 24919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 46119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gross expenses | 6103949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Waiver from investment manager | (650219) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 5453730 |
|  **NET INVESTMENT INCOME (LOSS)** | 19743825 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in securities | (51586119) |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures contracts | (12887587) |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward foreign currency contracts | 2675622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | 91786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swaps | 195912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Securities sold short | (4279) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | (61514665) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in securities | (58400866) |
| &nbsp;&nbsp;&nbsp;&nbsp; Futures contracts | 702896 |
| &nbsp;&nbsp;&nbsp;&nbsp; Forward foreign currency contracts | 1813831 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currency translations | 23453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Swaps | 4266363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (51594323) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (113108988) |
|  **NET INCREASE (DECREASE) IN NET ASSETS<br>RESULTING FROM OPERATIONS** | $(93365163) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $19743825 | $9695663 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | (61514665) | 6750792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (51594323) | (25057090) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (93365163) | (8610635) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (3617674) | (3700265) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (4710156) | (2349903) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (12373466) | (13110045) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (20701296) | (19160213) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 4,711,457 and 10,014,426 shares, respectively ] | 16639551 | 42121368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in connection with merger (Note 8) [ 0 and 2,658,406 shares, respectively ] |  | 11241140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 1,030,856 and 908,579 shares, respectively ] | 3617674 | 3700265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (4477262) and (4222923) shares, respectively ] | (16474332) | (17581383) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class A transactions | 3782893 | 39481390 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 10,024,464 and 3,300,459 shares, respectively ] | 34757523 | 13726784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in connection with merger (Note 8) [ 24,388,475 and 15,733,478 shares, respectively ] | 83049176 | 66292858 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 1,346,524 and 579,136 shares, respectively ] | 4710156 | 2349903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (7245514) and (8197678) shares, respectively ] | (25622822) | (34407738) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | 96894033 | 47961807 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 10,791,471 and 75,547,056 shares, respectively ] | 39187110 | 314148008 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in connection with merger (Note 8) [ 0 and 47,375,328 shares, respectively ] |  | 201256736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 3,512,442 and 3,208,073 shares, respectively ] | 12373466 | 13110045 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (16089162) and (3420898) shares, respectively ] | (59407552) | (14190748) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | (7846976) | 514324041 |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | 92829950 | 601767238 |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (21236509) | 573996390 |
|  **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 770583487 | 196587097 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $749346978 | $770583487 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class A** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $4.04 | $4.21 | $3.88 | $3.71 | $3.81 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e) | 0.10 | 0.07 | 0.06 | 0.08 | 0.08 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (0.62) | (0.14) | 0.52 | 0.17 | (0.09) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (0.52) | (0.07) | 0.58 | 0.25 | (0.01) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.09) | (0.06) | (0.09) | (0.08) | (0.09) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains |  | (0.04) | (0.16) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.09) | (0.10) | (0.25) | (0.08) | (0.09) |
|  Net asset value, end of year | $3.43 | $4.04 | $4.21 | $3.88 | $3.71 |
|  Total return | (12.86) | (1.76)% | 14.86% | 6.79% | (0.36)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $137580 | $157063 | $124147 | $115255 | $116112 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.95 | 1.01 %(k)(o) | 0.82 %(m) | 0.55 %(n) | 0.54 %(n) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 1.04 | 1.10% | 1.07% | 0.61% | 0.62% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 2.65 | 1.65% | 1.50 %(x) | 2.04 %(x) | 2.16 %(x) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 2.56 | 1.56% | 1.25 %(x) | 1.98 %(x) | 2.09 %(x) |
|  Portfolio turnover rate^ | 187 | 200% | 237 %(h) | 5% | 5% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $4.03 | $4.19 | $3.87 | $3.69 | $3.80 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e) | 0.10 | 0.07 | 0.06 | 0.08 | 0.08 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (0.62) | (0.13) | 0.51 | 0.18 | (0.10) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (0.52) | (0.06) | 0.57 | 0.26 | (0.02) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.09) | (0.06) | (0.09) | (0.08) | (0.09) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains |  | (0.04) | (0.16) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.09) | (0.10) | (0.25) | (0.08) | (0.09) |
|  Net asset value, end of year | $3.42 | $4.03 | $4.19 | $3.87 | $3.69 |
|  Total return | (12.89) | (1.53)% | 14.64% | 7.10% | (0.63)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $182542 | $100338 | $56600 | $48006 | $46800 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.94 | 1.00 %(k)(o) | 0.83 %(m) | 0.55 %(n) | 0.54 %(n) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 1.04 | 1.09% | 1.08% | 0.61% | 0.62% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 2.81 | 1.61% | 1.53 %(x) | 2.10 %(x) | 2.19 %(x) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 2.72 | 1.52% | 1.28 %(x) | 2.03 %(x) | 2.12 %(x) |
|  Portfolio turnover rate^ | 187 | 200% | 237 %(h) | 5% | 5% |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

EQ/CORE PLUS BOND PORTFOLIO

FINANCIAL HIGHLIGHTS (Continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $4.06 | $4.22 | $3.89 | $3.72 | $3.82 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e) | 0.11 | 0.07 | 0.07 | 0.09 | 0.09 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (0.63) | (0.12) | 0.52 | 0.17 | (0.09) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (0.52) | (0.05) | 0.59 | 0.26 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.10) | (0.07) | (0.10) | (0.09) | (0.10) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains |  | (0.04) | (0.16) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.10) | (0.11) | (0.26) | (0.09) | (0.10) |
|  Net asset value, end of year | $3.44 | $4.06 | $4.22 | $3.89 | $3.72 |
|  Total return | (12.83) | (1.29)% | 15.08% | 7.04% | (0.12) |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $429225 | $513183 | $15840 | $13436 | $14649 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.70 | 0.73 %(k)(o) | 0.58 %(m) | 0.30 %(n) | 0.29 |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.79 | 0.81% | 0.83% | 0.36% | 0.37 |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 2.90 | 1.75% | 1.78 %(x) | 2.22 %(x) | 2.36 |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 2.81 | 1.67% | 1.53 %(x) | 2.16 %(x) | 2.29 |
|  Portfolio turnover rate^ | 187 | 200% | 237 %(h) | 5% | 5 |

---

*#* *Per share amount is less than $0.005.* 

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(h)* *Change in investment strategy resulted in higher portfolio turnover.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers would be 0.95% for Class A, 0.95% for Class B and 0.70% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.01% for Class A, 1.00% for Class B and 0.73% for Class K.* 

*(m)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.00% for Class A, 1.00% for Class B and 0.75% for Class K.* 

*(n)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.10% for Class A, 1.10% for Class B and 0.85% for Class K.* 

*(o)* *Includes extraordinary expenses of 0.06%, 0.05% and 0.03% for Class A, Class B and Class K respectively.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**TARGET 2015 ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g44a21.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (14.13)% | 2.08% | 4.14 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (13.93) | 2.31 | 4.40 |  |
| &nbsp;&nbsp;&nbsp; S&P Target Date 2015 Index | (12.16) | 3.07 | 5.01 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (14.13)% for the year ended December 31, 2022. This compares to the Portfolio's benchmark, the S&P Target Date 2015 Index, which returned (12.16)% over the same period.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. Among bonds, short-term government issues and corporate bonds (with bigger coupons) mitigated some of the losses. Within equities, U.S. companies with lower valuations and higher dividends did relatively well. International stocks also outperformed their domestic counterparts.

Against this backdrop, the Portfolio underperformed its combination benchmark by a small margin. The Portfolio's fixed income allocation accounted for 56% of the negative total return.

***What helped performance during the year?***

• From an asset-allocation perspective, certain fixed income sectors mitigated the market's broad losses in 2022. The
Portfolio especially benefitted by holding short-term bonds, which were only slightly negative, or even positive at the very short end of the yield curve, for the year.

• In addition, underlying holdings in the large-cap value sector (as measured by the
Russell 1000 Value Index) and the mid-cap sector (as measured by the S&P Midcap 400 Index), as well as international equities (as measured by the MSCI EAFE Index) provided a cushion against falling prices,
with roughly 360 to 500 basis points (a basis point is one hundredth of a percentage point) in outperformance compared to the S&P 500 Index.

• The Portfolio also owned a number of actively managed portfolios that outperformed their benchmarks — their holdings
fell to a lesser extent. Equity portfolios that outperformed their benchmarks (by as much as 10 percentage points) included EQ/American Century Mid Cap Value, EQ/Janus Enterprise and EQ/MFS International Growth. 1290 Diversified Bond and 1290 VT
High Yield Bond also contributed relative outperformance to the Portfolio.

***What hurt performance during the year?***

• The Portfolio's U.S. equity holdings provided the biggest absolute contribution to negative returns, including
EQ/Equity 500 Index and EQ/Small Company Index, which together accounted for more than half the Portfolio's losses.

• On the bond side of the ledger, long-duration and high-quality bonds provided the most substantial drag on returns.
Long-term Treasury bonds were hurt the worst by rising interest rates because they have the least cushion from coupons.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged its benchmark. Equity
portfolios that struggled against their benchmarks in 2022 included EQ/Value Equity and Multimanager Aggressive Equity.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Table by Asset Class** (as a percentage of Total Investments<br>in Securities) | &nbsp;&nbsp;&nbsp;**Table by Asset Class** (as a percentage of Total Investments<br>in Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; Fixed Income | 65.9% |
| &nbsp;&nbsp;&nbsp; Equity | 34.1 |

---

------

**TARGET 2015 ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) | &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; EQ/Core Plus Bond Portfolio | 13.6% |
| &nbsp;&nbsp;&nbsp; EQ/Equity 500 Index Portfolio | 12.3 |
| &nbsp;&nbsp;&nbsp; 1290 Diversified Bond Fund | 11.5 |
| &nbsp;&nbsp;&nbsp; 1290 VT High Yield Bond Portfolio | 9.4 |
| &nbsp;&nbsp;&nbsp; EQ/Quality Bond PLUS Portfolio | 8.9 |
| &nbsp;&nbsp;&nbsp; EQ/Core Bond Index Portfolio | 8.8 |
| &nbsp;&nbsp;&nbsp; EQ/Long-Term Bond Portfolio | 7.5 |
| &nbsp;&nbsp;&nbsp; EQ/PIMCO Ultra Short Bond Portfolio | 6.2 |
| &nbsp;&nbsp;&nbsp; EQ/International Equity Index Portfolio | 5.1 |
| &nbsp;&nbsp;&nbsp; EQ/Janus Enterprise Portfolio | 4.1 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses<br>Paid<br>During<br>Period\*<br>7/1/22 -<br>12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $997.50 | $2.73 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.47 | 2.77 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 998.70 | 1.48 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.73 | 1.49 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.54% and 0.29%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).*  | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.54% and 0.29%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).*  | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.54% and 0.29%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).*  | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.54% and 0.29%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).*  |  |

---

------

**EQ PREMIER VIP TRUST** 

TARGET 2015 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |
|  **Equity (34.2%)** | **Equity (34.2%)** | **Equity (34.2%)** |
|  EQ/American Century Mid Cap Value Portfolio‡ | 33087 | $710952 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 103020 | 840892 |
|  EQ/Equity 500 Index Portfolio‡ | 67859 | 3863304 |
|  EQ/International Equity Index Portfolio‡ | 171521 | 1589603 |
|  EQ/Janus Enterprise Portfolio\*‡ | 67180 | 1300818 |
|  EQ/MFS International Growth Portfolio‡ | 130250 | 873106 |
|  EQ/Small Company Index Portfolio‡ | 50738 | 501544 |
|  EQ/Value Equity Portfolio‡ | 28910 | 537295 |
|  Multimanager Aggressive Equity Portfolio\*‡ | 10151 | 505200 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 10722714 |
|  **Fixed Income (66.0%)** | **Fixed Income (66.0%)** | **Fixed Income (66.0%)** |
|  1290 Diversified Bond Fund‡ | 400633 | 3605699 |
|  1290 VT High Yield Bond Portfolio‡ | 357853 | 2948865 |
|  EQ/Core Bond Index Portfolio‡ | 305719 | 2748812 |
|  EQ/Core Plus Bond Portfolio‡ | 1242166 | 4276508 |
|  EQ/Long-Term Bond Portfolio‡ | 342190 | 2369459 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 204139 | 1958274 |
|  EQ/Quality Bond PLUS Portfolio‡ | 368312 | 2786526 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 20694143 |
|  **Total Investments in Securities (100.2%)**<br> *(Cost $31,885,563)* |  | 31416857 |
|  **Other Assets Less Liabilities (-0.2%)** | **Other Assets Less Liabilities (-0.2%)** | (58451) |
|  **Net Assets (100%)** |  | $31358406 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 33087 | 1159777 | 182939 | (486606) | 84617 | (229775) | 710952 | 22951 | 74201 |
|  EQ/Emerging Markets Equity PLUS Portfolio | 103020 | 1007871 | 242800 | (160551) | 138 | (249366) | 840892 | 21054 | 43302 |
|  EQ/Equity 500 Index Portfolio | 67859 | 6563585 | 574037 | (2126197) | 1110905 | (2259026) | 3863304 | 54307 | 63757 |
|  EQ/International Equity Index Portfolio | 171521 | 2199339 | 322856 | (632158) | 2256 | (302690) | 1589603 | 43625 |  |
|  EQ/Janus Enterprise Portfolio\* | 67180 | 1468197 | 379112 | (208717) | (1972) | (335802) | 1300818 |  | 88635 |
|  EQ/MFS International Growth Portfolio | 130250 | 1292338 | 104216 | (287662) | (3141) | (232645) | 873106 | 10124 | 35960 |
|  EQ/Small Company Index Portfolio | 50738 | 924161 | 43642 | (288441) | 58830 | (236648) | 501544 | 6282 | 18606 |
|  EQ/Value Equity Portfolio | 28910 | 865157 | 39092 | (218441) | (2759) | (145754) | 537295 | 7447 | 12891 |
|  Multimanager Aggressive Equity Portfolio\* | 10151 | 887280 | 95207 | (128441) | (27316) | (321530) | 505200 |  | 76453 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 400633 | 3696504 | 537604 | (62498) | (2391) | (563520) | 3605699 | 112604 |  |
|  1290 VT High Yield Bond Portfolio | 357853 | 3903807 | 332845 | (732985) | (33306) | (521496) | 2948865 | 168449 |  |
|  EQ/Core Bond Index Portfolio | 305719 | 3659414 | 508210 | (1056197) | (98) | (362517) | 2748812 | 54087 | 8150 |
|  EQ/Core Plus Bond Portfolio | 1242166 | 5437509 | 743559 | (1093811) | (73933) | (736816) | 4276508 | 119941 | 4056 |
|  EQ/Long-Term Bond Portfolio | 342190 | 3361685 | 549203 | (477044) | (93093) | (971292) | 2369459 | 81687 | 1875 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 204139 | 2215605 | 243140 | (457158) | (3913) | (39400) | 1958274 | 32105 | 1803 |
|  EQ/Quality Bond PLUS Portfolio | 368312 | 3963851 | 298483 | (1050142) | (56227) | (369439) | 2786526 | 26796 | 23059 |
|  **Total** |  | **42606080** | **5196945** | **(9467049)** | **958597** | **(7877716)** | **31416857** | **761459** | **452748** |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2015 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** | **Assets:** | **Assets:** | **Assets:** |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $3605699 | $27811158 | $— | $31416857 |
|  **Total Assets** | $**3605699** | $**27811158** | $**—** | $**31416857** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**3605699** | $**27811158** | $**—** | $**31416857** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5196945 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $9467049 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $3989802 |
|  Aggregate gross unrealized depreciation | (4535077) |
|  Net unrealized depreciation | $(545275) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31962132 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2015 ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $31,885,563) | $31416857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 31490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 9568 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 31458065 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 54026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 3815 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for securities purchased | 1206 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 851 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 39761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 99659 |
|  **NET ASSETS** | $31358406 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $31396930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (38524) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $31358406 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $17,497,013 / 2,628,336 shares outstanding (unlimited amount authorized: $0.01 par value) | $6.66 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $13,861,393 / 2,083,890 shares outstanding (unlimited amount authorized: $0.01 par value) | $6.65 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $761459 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 761748 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 88000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 48872 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 44178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 38559 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 35856 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 5865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 1202 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 514 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gross expenses | 263046 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Waiver from investment manager | (80034) |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reimbursement from investment manager | (27973) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 155039 |
|  **NET INVESTMENT INCOME (LOSS)** | 606709 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | 958597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 452748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1411345 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (7877716) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (6466371) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(5859662) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2015 ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $606709 | $509454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1411345 | 4635947 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (7877716) | (2249669) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (5859662) | 2895732 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (1546189) | (2543571) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (1312643) | (2205817) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (2858832) | (4749388) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 190,471 and 311,590 shares, respectively ] | 1452986 | 2877833 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 228,946 and 297,245 shares, respectively ] | 1546189 | 2543571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (498181) and (939424) shares, respectively ] | (3722809) | (8711699) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | (723634) | (3290295) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 3,230 and 257 shares, respectively ] | 21524 | 2383 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 194,308 and 257,974 shares, respectively ] | 1312643 | 2205817 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (423813) and (202951) shares, respectively ] | (3056884) | (1877836) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | (1722717) | 330364 |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | (2446351) | (2959931) |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (11164845) | (4813587) |
|  **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 42523251 | 47336838 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $31358406 | $42523251 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2015 ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $8.48 | $8.95 | $8.70 | $8.03 | $9.25 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.12 | 0.09 | 0.10 | 0.15 | 0.13 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (1.33) | 0.46 | 0.78 | 1.05 | (0.52) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.21) | 0.55 | 0.88 | 1.20 | (0.39) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.14) | (0.16) | (0.17) | (0.15) | (0.16) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.47) | (0.86) | (0.46) | (0.38) | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.61) | (1.02) | (0.63) | (0.53) | (0.83) |
|  Net asset value, end of year | $6.66 | $8.48 | $8.95 | $8.70 | $8.03 |
|  Total return | (14.13)% | 6.27% | 10.26% | 15.04% | (4.24)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17497 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22951 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27176 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25780 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21945 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers and reimbursements (f) | 0.55 %(j) | 0.57 %(k)(o) | 0.55 %(j) | 0.56 %(j) | 0.55 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers and reimbursements (f) | 0.85% | 0.77% | 0.81% | 0.81% | 0.76% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers and reimbursements (f)(x) | 1.64% | 0.95% | 1.20% | 1.72% | 1.45% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers and reimbursements (f)(x) | 1.34% | 0.75% | 0.94% | 1.47% | 1.25% |
|  Portfolio turnover rate^ | 14% | 33% | 30% | 17% | 20% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $8.47 | $8.94 | $8.69 | $8.02 | $9.25 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.13 | 0.12 | 0.12 | 0.15 | 0.14 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (1.32) | 0.45 | 0.78 | 1.07 | (0.52) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.19) | 0.57 | 0.90 | 1.22 | (0.38) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.16) | (0.18) | (0.19) | (0.17) | (0.18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.47) | (0.86) | (0.46) | (0.38) | (0.67) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.63) | (1.04) | (0.65) | (0.55) | (0.85) |
|  Net asset value, end of year | $6.65 | $8.47 | $8.94 | $8.69 | $8.02 |
|  Total return | (13.93)% | 6.54% | 10.52% | 15.32% | (4.08)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13861 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19573 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20161 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21532 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22401 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers and reimbursements (f) | 0.30 %(j) | 0.32 %(k)(o) | 0.30 %(j) | 0.31 %(j) | 0.30 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers and reimbursements (f) | 0.60% | 0.52% | 0.56% | 0.56% | 0.50% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers and reimbursements (f)(x) | 1.76% | 1.30% | 1.40% | 1.68% | 1.56% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers and reimbursements (f)(x) | 1.46% | 1.09% | 1.14% | 1.43% | 1.36% |
|  Portfolio turnover rate^ | 14% | 33% | 30% | 17% | 20% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.10% for Class B and 0.85% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.12% for Class B and 0.87% for Class K.* 

*(o)* *Includes extraordinary expenses of 0.02% and 0.02% for Class B and Class K respectively.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**TARGET 2025 ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g43d00.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (15.23)% | 3.39% | 5.92 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (15.03) | 3.63 | 6.17 |  |
| &nbsp;&nbsp;&nbsp; S&P Target Date 2025 Index | (13.13) | 3.75 | 6.23 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (15.23)% for the year ended December 31, 2022. This compares to the Portfolio's benchmark, the S&P Target Date 2025 Index, which returned (13.13)% over the same period.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. Among bonds, short-term government issues and corporate bonds (with bigger coupons) mitigated some of the losses. Within equities, U.S. companies with lower valuations and higher dividends did relatively well. International stocks also outperformed their domestic counterparts.

Against this backdrop, the Portfolio underperformed its combination benchmark. The Portfolio's fixed income allocation accounted for 34% of the negative total return.

***What helped performance during the year?***

• From an asset-allocation perspective, certain fixed income sectors mitigated the market's broad losses in 2022. The
Portfolio especially benefitted from holding short-term bonds, which were only slightly negative, or even positive at the very short end of the yield curve, for the year. Intermediate-term government and corporate bond holdings (as represented by
the Bloomberg U.S. Intermediate Government/Credit Bond Index) also outperformed the broad bond market (as represented by the Bloomberg U.S. Aggregate Bond Index) by around 500 basis points (a basis point is one hundredth of a percentage point).

• In addition, underlying holdings in the value sector, both the large-cap (as
measured by the Russell 1000 Value Index) and mid-cap ranges (as measured by the Russell Midcap Value Index), as well as international equities (as measured by the MSCI EAFE Index), provided a cushion against
falling prices, with between 360 to 500 basis points (a basis point is one hundredth of a percentage point) in outperformance compared to the S&P 500 Index.

• The Portfolio also owned a number of actively managed portfolios that outperformed their benchmarks. Equity portfolios that
outperformed their benchmarks by as much as 10 percentage points included EQ/American Century Mid Cap Value, EQ/Janus Enterprise and EQ/MFS International Growth. 1290 Diversified Bond and 1290 VT High Yield Bond also contributed relative
outperformance to the Portfolio.

***What hurt performance during the year?***

• Among the sector contributions, several of the Portfolio's U.S. equity holdings provided a substantial absolute
contribution to negative returns, especially EQ/Equity 500 Index and EQ/Small Company Index.

• On the bond side of the ledger, long-duration and high-quality bonds provided the most substantial drag on returns.
Long-term Treasury bonds were hurt the worst by rising interest rates because they have the least cushion from coupons.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged its benchmark. Equity
portfolios that struggled against their benchmarks in 2022 included EQ/Value Equity and Multimanager Aggressive Equity.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; Equity | 59.1% |
| &nbsp;&nbsp;&nbsp; Fixed Income | 40.9 |

---

------

**TARGET 2025 ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) | &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | &nbsp;&nbsp;&nbsp;**As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; EQ/Equity 500 Index Portfolio | 23.3% |
| &nbsp;&nbsp;&nbsp; EQ/International Equity Index Portfolio | 10.0 |
| &nbsp;&nbsp;&nbsp; EQ/Core Plus Bond Portfolio | 8.0 |
| &nbsp;&nbsp;&nbsp; 1290 VT High Yield Bond Portfolio | 6.5 |
| &nbsp;&nbsp;&nbsp; 1290 Diversified Bond Fund | 6.0 |
| &nbsp;&nbsp;&nbsp; EQ/Small Company Index Portfolio | 5.9 |
| &nbsp;&nbsp;&nbsp; EQ/Long-Term Bond Portfolio | 5.6 |
| &nbsp;&nbsp;&nbsp; EQ/Core Bond Index Portfolio | 5.4 |
| &nbsp;&nbsp;&nbsp; EQ/Quality Bond PLUS Portfolio | 5.3 |
| &nbsp;&nbsp;&nbsp; EQ/MFS International Growth Portfolio | 5.2 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses**<br> **Paid<br>During<br>Period\*<br>7/1/22 -<br>12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $1013.00 | $2.92 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.31 | 2.93 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1013.60 | 1.65 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.57 | 1.66 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.58% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).*  | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.58% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).*  | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.58% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).*  | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.58% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).*  |  |

---

------

**EQ PREMIER VIP TRUST** 

TARGET 2025 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |
|  **Equity (59.1%)** |  |  |
|  EQ/American Century Mid Cap Value Portfolio‡ | 218546 | $4696035 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 687244 | 5609588 |
|  EQ/Equity 500 Index Portfolio‡ | 577391 | 32871755 |
|  EQ/International Equity Index Portfolio‡ | 1523278 | 14117264 |
|  EQ/Janus Enterprise Portfolio\*‡ | 286407 | 5545792 |
|  EQ/MFS International Growth Portfolio‡ | 1093121 | 7327547 |
|  EQ/Small Company Index Portfolio‡ | 845532 | 8358131 |
|  EQ/Value Equity Portfolio‡ | 147720 | 2745342 |
|  Multimanager Aggressive Equity Portfolio\*‡ | 43114 | 2145678 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 83417132 |
|  **Fixed Income (41.0%)** |  |  |
|  1290 Diversified Bond Fund‡ | 946498 | 8518483 |
|  1290 VT High Yield Bond Portfolio‡ | 1112595 | 9168261 |
|  EQ/Core Bond Index Portfolio‡ | 847490 | 7620044 |
|  EQ/Core Plus Bond Portfolio‡ | 3284268 | 11307024 |
|  EQ/Long-Term Bond Portfolio‡ | 1148675 | 7953890 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 602525 | 5779939 |
|  EQ/Quality Bond PLUS Portfolio‡ | 987229 | 7469039 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 57816680 |
|  **Total Investments in Securities (100.1%)**<br> *(Cost $127,107,049)* |  | 141233812 |
|  **Other Assets Less Liabilities (-0.1%)** |  | (167992) |
|  **Net Assets (100%)** |  | $141065820 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income**<br>**($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 218546 | 5210068 | 1223724 | (1027208) | (10776) | (699773) | 4696035 | 148819 | 480720 |
|  EQ/Emerging Markets Equity PLUS Portfolio | 687244 | 6215978 | 1800824 | (825030) | 4663 | (1586847) | 5609588 | 138306 | 286429 |
|  EQ/Equity 500 Index Portfolio | 577391 | 49318965 | 3851007 | (11278003) | 5743504 | (14763718) | 32871755 | 457205 | 520368 |
|  EQ/International Equity Index Portfolio | 1523278 | 17328461 | 1101992 | (1907882) | 23368 | (2428675) | 14117264 | 382912 |  |
|  EQ/Janus Enterprise Portfolio\* | 286407 | 4867989 | 2463073 | (567208) | (618) | (1217444) | 5545792 |  | 368886 |
|  EQ/MFS International Growth Portfolio | 1093121 | 8980716 | 1140110 | (1082852) | (1061) | (1709366) | 7327547 | 83400 | 293719 |
|  EQ/Small Company Index Portfolio | 845532 | 11970330 | 806528 | (1790674) | 2523 | (2630576) | 8358131 | 103508 | 303127 |
|  EQ/Value Equity Portfolio | 147720 | 3769600 | 238098 | (614080) | (3419) | (644857) | 2745342 | 37650 | 62022 |
|  Multimanager Aggressive Equity Portfolio\* | 43114 | 3517674 | 440228 | (412515) | (42978) | (1356731) | 2145678 |  | 317182 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 946498 | 8860370 | 1315499 | (275000) | (11753) | (1370633) | 8518483 | 280499 |  |
|  1290 VT High Yield Bond Portfolio | 1112595 | 11447019 | 1484505 | (2112238) | (45353) | (1605672) | 9168261 | 519232 |  |
|  EQ/Core Bond Index Portfolio | 847490 | 9260662 | 1600209 | (2325060) | (3862) | (911905) | 7620044 | 147730 | 20302 |
|  EQ/Core Plus Bond Portfolio | 3284268 | 14420345 | 1881665 | (2905060) | (177786) | (1912140) | 11307024 | 314393 | 10094 |
|  EQ/Long-Term Bond Portfolio | 1148675 | 11224972 | 1431626 | (1300981) | (167098) | (3234629) | 7953890 | 271926 | 5946 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 602525 | 6215195 | 894647 | (1206901) | (7601) | (115401) | 5779939 | 94040 | 5281 |
|  EQ/Quality Bond PLUS Portfolio | 987229 | 9199156 | 1477778 | (2215060) | (38886) | (953949) | 7469039 | 70783 | 54818 |
|  **Total** |  | **181807500** | **23151513** | **(31845752)** | **5262867** | **(37142316)** | **141233812** | **3050403** | **2728894** |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2025 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $8518483 | $132715329 | $— | $141233812 |
|  **Total Assets** | $**8518483** | $**132715329** | $**—** | $**141233812** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**8518483** | $**132715329** | $**—** | $**141233812** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $23151513 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31845752 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $26844011 |
|  Aggregate gross unrealized depreciation | (12872286) |
|  Net unrealized appreciation | $13971725 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127262087 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2025 ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $127,107,049) | $141233812.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 121643.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 18510.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 641.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 141374606.0 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 170033.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for securities purchased | 45726.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 24179.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 15797.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 11671.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | 27.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 41353.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 308786.0 |
|  **NET ASSETS** | $141065820.0 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $124471625.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 16594195.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $141065820.0 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $112,327,711 / 11,681,847 shares outstanding (unlimited amount authorized: $0.01 par value) | $9.62 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $28,738,109 / 2,989,453 shares outstanding (unlimited amount authorized: $0.01 par value) | $9.61 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $3050403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 3051198 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 298092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 187880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 152433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 91000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 42844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 16003 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 4921 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 2816 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gross expenses | 795989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Waiver from investment manager | (7829) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 788160 |
|  **NET INVESTMENT INCOME (LOSS)** | 2263038 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | 5262867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 2728894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 7991761 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (37142316) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (29150555) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(26887517) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2025 ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $2263038 | $1967674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 7991761 | 15388030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (37142316) | 2174811 |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (26887517) | 19530515 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (10549677) | (11660925) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (2794625) | (3670319) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (13344302) | (15331244) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 1,192,206 and 1,630,918 shares, respectively ] | 13032158 | 21147526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 1,082,461 and 932,842 shares, respectively ] | 10549677 | 11660925 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (1674326) and (2734421) shares, respectively ] | (18321131) | (35416828) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | 5260704 | (2608377) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 0 and 1 shares ] |  | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 286,604 and 293,457 shares, respectively ] | 2794625 | 3670319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (746168) and (762595) shares, respectively ] | (8335575) | (10008718) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | (5540950) | (6338386) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | (280246) | (8946763) |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (40512065) | (4747492) |
|  **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 181577885 | 186325377 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $141065820 | $181577885 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2025 ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $12.50 | $12.28 | $11.56 | $10.21 | $11.35 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.16 | 0.13 | 0.14 | 0.19 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.07) | 1.18 | 1.25 | 1.78 | (0.85) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.91) | 1.31 | 1.39 | 1.97 | (0.69) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.17) | (0.24) | (0.21) | (0.19) | (0.19) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.80) | (0.85) | (0.46) | (0.43) | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.97) | (1.09) | (0.67) | (0.62) | (0.45) |
|  Net asset value, end of year | $9.62 | $12.50 | $12.28 | $11.56 | $10.21 |
|  Total return | (15.23)% | 10.80% | 12.20% | 19.47% | (6.15)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112328 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138483 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138209 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123872 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98100 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.57 %(j) | 0.56 %(k) | 0.56 %(j) | 0.57 %(j) | 0.57 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.58% | 0.56% | 0.58% | 0.59% | 0.58% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.46% | 1.00% | 1.24% | 1.66% | 1.44% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.46% | 1.00% | 1.21% | 1.65% | 1.42% |
|  Portfolio turnover rate^ | 15% | 30% | 26% | 16% | 17% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $12.49 | $12.28 | $11.55 | $10.21 | $11.35 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.17 | 0.15 | 0.15 | 0.19 | 0.17 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.05) | 1.19 | 1.28 | 1.80 | (0.83) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (1.88) | 1.34 | 1.43 | 1.99 | (0.66) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** | &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.20) | (0.28) | (0.24) | (0.22) | (0.22) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.80) | (0.85) | (0.46) | (0.43) | (0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (1.00) | (1.13) | (0.70) | (0.65) | (0.48) |
|  Net asset value, end of year | $9.61 | $12.49 | $12.28 | $11.55 | $10.21 |
|  Total return | (15.03)% | 10.98% | 12.55% | 19.64% | (5.89)% |
|  **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** | **Ratios/Supplemental Data:** |
|  Net assets, end of year (000's) | $28738 | $43095 | $48117 | $51085 | $49630 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.32 %(j) | 0.31 %(k) | 0.31 %(j) | 0.32 %(j) | 0.32 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.33% | 0.31% | 0.33% | 0.34% | 0.33% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.57% | 1.15% | 1.35% | 1.73% | 1.46% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.56% | 1.15% | 1.32% | 1.71% | 1.44% |
|  Portfolio turnover rate^ | 15% | 30% | 26% | 16% | 17% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.10% for Class B and 0.85% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.08% for Class B and 0.83% for Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**TARGET 2035 ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g82u80.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (16.32)% | 4.27% | 6.97 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (16.10) | 4.53 | 7.24 |  |
| &nbsp;&nbsp;&nbsp; S&P Target Date 2035 Index | (14.99) | 4.63 | 7.42 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (16.32)% for the year ended December 31, 2022. This compares to the Portfolio's benchmark, the S&P Target Date 2035 Index, which returned (14.99)% over the same period.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. Among bonds, short-term government issues and corporate bonds (with bigger coupons) mitigated some of the losses. Within equities, U.S. companies with lower valuations and higher dividends did relatively well. International stocks also outperformed their domestic counterparts.

Against this backdrop, the Portfolio underperformed its combination benchmark by a small margin. The Portfolio's equity allocation accounted for 81% of the negative total return.

***What helped performance during the year?***

• From an asset-allocation perspective, certain fixed income sectors mitigated the market's broad losses in 2022. The
Portfolio especially benefitted from a position in short-term bonds, which were only slightly negative, or even positive at the very short end of the yield curve, for the year.

• In addition, underlying holdings in international equities (as measured by the MSCI EAFE Index) and mid-cap U.S. stocks (as measured by the S&P Midcap 400 Index) provided a cushion against falling prices, with roughly 360 to 500 basis points (a basis point is one hundredth of a percentage point) in
outperformance compared to the S&P 500 Index.

• The Portfolio also owned a number of actively managed portfolios that outperformed their benchmarks. Equity portfolios that
outperformed their benchmarks (by as much as 10 percentage points) included EQ/American Century Mid Cap Value, EQ/Janus Enterprise and EQ/MFS International Growth. 1290 Diversified Bond and 1290 VT High Yield Bond also contributed relative
outperformance to the Portfolio.

***What hurt performance during the year?***

• The Portfolio's U.S. equity holdings provided the biggest absolute contribution to negative returns, including
EQ/Equity 500 Index and EQ/Small Company Index, which together accounted for more than half the Portfolio's losses.

• On the bond side of the ledger, long-duration and high-quality bonds provided the most substantial drag on returns.
Long-term Treasury bonds were hurt the worst by rising interest rates because they have the least cushion from coupons.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged its benchmark. Equity
portfolios that struggled against their benchmarks in 2022 included EQ/Value Equity and Multimanager Aggressive Equity.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Table by Asset Class** (as a percentage of Total<br>Investments in Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; Equity | 75.6% |
| &nbsp;&nbsp;&nbsp; Fixed Income | 24.4 |

---

------

**TARGET 2035 ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Top 10 Holdings** (as a percentage of Total Investments in<br>Securities)<br> **As of December 31, 2022** | &nbsp;&nbsp;&nbsp; **Top 10 Holdings** (as a percentage of Total Investments in<br>Securities)<br> **As of December 31, 2022** |
| &nbsp;&nbsp;&nbsp; EQ/Equity 500 Index Portfolio | 33.7% |
| &nbsp;&nbsp;&nbsp; EQ/International Equity Index Portfolio | 12.4 |
| &nbsp;&nbsp;&nbsp; EQ/Small Company Index Portfolio | 9.4 |
| &nbsp;&nbsp;&nbsp; EQ/MFS International Growth Portfolio | 6.8 |
| &nbsp;&nbsp;&nbsp; EQ/Emerging Markets Equity PLUS Portfolio | 4.8 |
| &nbsp;&nbsp;&nbsp; EQ/Core Plus Bond Portfolio | 4.5 |
| &nbsp;&nbsp;&nbsp; 1290 VT High Yield Bond Portfolio | 4.4 |
| &nbsp;&nbsp;&nbsp; EQ/Long-Term Bond Portfolio | 3.8 |
| &nbsp;&nbsp;&nbsp; EQ/Core Bond Index Portfolio | 3.2 |
| &nbsp;&nbsp;&nbsp; EQ/Quality Bond PLUS Portfolio | 3.2 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses<br>Paid<br>During<br>Period\*<br>7/1/22 -<br>12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $1020.40 | $2.88 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.35 | 2.89 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1021.40 | 1.61 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.61 | 1.61 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.57% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.57% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.57% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.57% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST** 

TARGET 2035 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |
|  **Equity (75.7%)** | **Equity (75.7%)** | **Equity (75.7%)** |
|  EQ/American Century Mid Cap Value Portfolio‡ | 170700 | $3667941 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 1100236 | 8980606 |
|  EQ/Equity 500 Index Portfolio‡ | 1104272 | 62867837 |
|  EQ/International Equity Index Portfolio‡ | 2485880 | 23038362 |
|  EQ/Janus Enterprise Portfolio\*‡ | 276446 | 5352912 |
|  EQ/MFS International Growth Portfolio‡ | 1896788 | 12714786 |
|  EQ/Small Company Index Portfolio‡ | 1767643 | 17473248 |
|  EQ/Value Equity Portfolio‡ | 244097 | 4536494 |
|  Multimanager Aggressive Equity Portfolio\*‡ | 47000 | 2339067 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 140971253 |
|  **Fixed Income (24.4%)** | **Fixed Income (24.4%)** | **Fixed Income (24.4%)** |
|  1290 Diversified Bond Fund‡ | 620762 | 5586856 |
|  1290 VT High Yield Bond Portfolio‡ | 1000822 | 8247203 |
|  EQ/Core Bond Index Portfolio‡ | 664837 | 5977752 |
|  EQ/Core Plus Bond Portfolio‡ | 2409283 | 8294641 |
|  EQ/Long-Term Bond Portfolio‡ | 1021025 | 7069991 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 457484 | 4388582 |
|  EQ/Quality Bond PLUS Portfolio‡ | 784553 | 5935664 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 45500689 |
|  **Total Investments in Securities (100.1%)**<br> *(Cost $159,939,193)* |  | 186471942 |
|  **Other Assets Less Liabilities (-0.1%)** | **Other Assets Less Liabilities (-0.1%)** | (164019) |
|  **Net Assets (100%)** |  | $186307923 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change in<br>Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 170700 | 3249853 | 1399021 | (443318) | (2863) | (534752) | 3667941 | 115251 | 372029 |
|  EQ/Emerging Markets Equity PLUS Portfolio | 1100236 | 9572304 | 2426518 | (552338) | 191 | (2466069) | 8980606 | 220061 | 457200 |
|  EQ/Equity 500 Index Portfolio | 1104272 | 79747457 | 7901884 | (8728748) | 377047 | (16429803) | 62867837 | 871878 | 976165 |
|  EQ/International Equity Index Portfolio | 2485880 | 25113156 | 2757217 | (1270377) | 533 | (3562167) | 23038362 | 622924 |  |
|  EQ/Janus Enterprise Portfolio\* | 276446 | 3574777 | 2975101 | (193318) | (19) | (1003629) | 5352912 |  | 353361 |
|  EQ/MFS International Growth Portfolio | 1896788 | 14222801 | 2034793 | (745656) | 209 | (2797361) | 12714786 | 143840 | 504954 |
|  EQ/Small Company Index Portfolio | 1767643 | 21324477 | 2483578 | (1274676) | 457 | (5060588) | 17473248 | 215738 | 629324 |
|  EQ/Value Equity Portfolio | 244097 | 5408404 | 572724 | (466169) | 300 | (978765) | 4536494 | 62035 | 101060 |
|  Multimanager Aggressive Equity Portfolio\* | 47000 | 3310670 | 669859 | (220935) | 151 | (1420678) | 2339067 |  | 342156 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 620762 | 5351073 | 1223230 | (145000) | (6140) | (836307) | 5586856 | 178230 |  |
|  1290 VT High Yield Bond Portfolio | 1000822 | 8874411 | 1833058 | (1067104) | (20483) | (1372679) | 8247203 | 465727 |  |
|  EQ/Core Bond Index Portfolio | 664837 | 6277308 | 1404147 | (1034721) | (1919) | (667063) | 5977752 | 115402 | 15451 |
|  EQ/Core Plus Bond Portfolio | 2409283 | 9928714 | 1429547 | (1567103) | (113450) | (1383067) | 8294641 | 229955 | 7260 |
|  EQ/Long-Term Bond Portfolio | 1021025 | 9048046 | 1330615 | (479253) | (16350) | (2813067) | 7069991 | 241026 | 5146 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 457484 | 4302235 | 702932 | (525935) | (1046) | (89604) | 4388582 | 71229 | 4000 |
|  EQ/Quality Bond PLUS Portfolio | 784553 | 6342954 | 1240761 | (912104) | (10934) | (725013) | 5935664 | 56024 | 42405 |
|  **Total** |  | **215648640** | **32384985** | **(19626755)** | **205684** | **(42140612)** | **186471942** | **3609320** | **3810511** |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2035 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** | **Assets:** | **Assets:** | **Assets:** |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $5586856 | $180885086 | $— | $186471942 |
|  **Total Assets** | $**5586856** | $**180885086** | $**—** | $**186471942** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**5586856** | $**180885086** | $**—** | $**186471942** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32384985 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $19626755 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $38258897 |
|  Aggregate gross unrealized depreciation | (11914449) |
|  Net unrealized appreciation | $26344448 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160127494 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2035 ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $159,939,193) | $186471942.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 158125.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 69444.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 835.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 186700346.0 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 180101.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for securities purchased | 96911.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 35912.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 20826.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 16022.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 42651.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 392423.0 |
|  **NET ASSETS** | $186307923.0 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $157175878.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 29132045.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $186307923.0 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $167,325,032 / 14,177,666 shares outstanding (unlimited amount authorized: $0.01 par value) | $11.8 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $18,982,891 / 1,608,348 shares outstanding (unlimited amount authorized: $0.01 par value) | $11.8 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $3609320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 1165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 3610485 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 423583 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 235779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 191115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 90000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 44499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 21193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 5611 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 4005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | 1015785 |
|  **NET INVESTMENT INCOME (LOSS)** | 2594700 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | 205684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 3810511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 4016195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (42140612) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (38124417) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(35529717) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2035 ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** | **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $2594700 | $2038313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 4016195 | 11128707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (42140612) | 13600348 |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (35529717) | 26767368 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (8818861) | (8788434) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (1083939) | (1370601) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (9902800) | (10159035) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 1,872,962 and 2,034,666 shares, respectively ] | 24163911 | 30081140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 752,496 and 596,253 shares, respectively ] | 8818861 | 8788434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (1070549) and (1639079) shares, respectively ] | (13618948) | (24471247) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | 19363824 | 14398327 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 92,335 and 92,930 shares, respectively ] | 1083939 | 1370601 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (321970) and (301515) shares, respectively ] | (4159001) | (4477362) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | (3075062) | (3106761) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | 16288762 | 11291566 |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (29143755) | 27899899 |
|  **NET ASSETS:** | **NET ASSETS:** | **NET ASSETS:** |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 215451678 | 187551779 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $186307923 | $215451678 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2035 ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $14.90 | $13.71 | $12.52 | $10.67 | $11.83 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.17 | 0.14 | 0.14 | 0.19 | 0.17 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.62) | 1.78 | 1.55 | 2.17 | (1.01) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.45) | 1.92 | 1.69 | 2.36 | (0.84) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.17) | (0.27) | (0.20) | (0.19) | (0.18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.48) | (0.46) | (0.30) | (0.32) | (0.14) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.65) | (0.73) | (0.50) | (0.51) | (0.32) |
|  Net asset value, end of year | $11.80 | $14.90 | $13.71 | $12.52 | $10.67 |
|  Total return | (16.32)% | 14.10% | 13.70% | 22.28% | (7.14)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167325 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188064 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159487 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131599 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95353 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.56 %(j) | 0.55 %(k) | 0.58 %(m) | 0.59 %(m) | 0.59 %(m) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.56% | 0.55% | 0.58% | 0.60% | 0.61% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.35% | 0.97% | 1.18% | 1.61% | 1.41% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.35% | 0.97% | 1.17% | 1.60% | 1.39% |
|  Portfolio turnover rate^ | 10% | 20% | 20% | 8% | 12% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $14.90 | $13.71 | $12.52 | $10.67 | $11.83 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.18 | 0.17 | 0.16 | 0.19 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.59) | 1.79 | 1.56 | 2.20 | (0.97) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.41) | 1.96 | 1.72 | 2.39 | (0.81) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.21) | (0.31) | (0.23) | (0.22) | (0.21) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.48) | (0.46) | (0.30) | (0.32) | (0.14) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.69) | (0.77) | (0.53) | (0.54) | (0.35) |
|  Net asset value, end of year | $11.80 | $14.90 | $13.71 | $12.52 | $10.67 |
|  Total return | (16.10)% | 14.38% | 13.95% | 22.57% | (6.88)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $18983 | $27388 | $28065 | $30798 | $28917 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.31 %(j) | 0.30 %(k) | 0.33 %(m) | 0.34 %(m) | 0.34 %(m) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.31% | 0.30% | 0.33% | 0.35% | 0.35% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.42% | 1.12% | 1.27% | 1.63% | 1.38% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.42% | 1.12% | 1.27% | 1.63% | 1.36% |
|  Portfolio turnover rate^ | 10% | 20% | 20% | 8% | 12% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.05% for Class B and 0.80% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.03% for Class B and 0.78% for Class K.* 

*(m)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.10% for Class B and 0.85% for Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**TARGET 2045 ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g21z38.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **10<br>Years** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (16.73)% | 4.79% | 7.75 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (16.58) | 5.05 | 8.01 |  |
| &nbsp;&nbsp;&nbsp; S&P Target Date 2045 Index | (15.84) | 5.16 | 8.11 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (16.73)% for the year ended December 31, 2022. This compares to the Portfolio's benchmark, the S&P Target Date 2045 Index, which returned (15.84)% over the same period.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. Among bonds, short-term government issues and corporate bonds (with bigger coupons) mitigated some of the losses. Within equities, U.S. companies with lower valuations and higher dividends did relatively well. International stocks also outperformed their domestic counterparts.

Against this backdrop, the Portfolio underperformed its combination benchmark. The Portfolio's equity allocation accounted for 89% of the negative total return.

***What helped performance during the year?***

• From an asset-allocation perspective, certain fixed income sectors mitigated the market's broad losses in 2022. The
Portfolio especially benefitted from holding short-term bonds, which were only slightly negative, or even positive at the very short end of the yield curve, for the year. Intermediate-term government and corporate bond holdings (as represented by
the Bloomberg U.S. Intermediate Government/Credit Bond Index) also outperformed the broad bond market (as represented by the Bloomberg U.S. Aggregate Bond Index) by around 500 basis points (a basis point is one hundredth of a percentage point).

• In addition, underlying holdings in the value equity sector, both the large-cap (as
measured by the Russell 1000 Value Index) and mid-cap ranges (as measured by the Russell Midcap Value Index), as well as international equities (as measured by the MSCI EAFE Index) provided a cushion against
falling prices, with between 360 to 500 basis points (a basis point is one hundredth of a percentage point) in outperformance compared to the S&P 500 Index.

• The Portfolio also owned a number of actively managed portfolios that outperformed their benchmarks. Equity portfolios that
outperformed their benchmarks (by as much as 10 percentage points) included EQ/American Century Mid Cap Value, EQ/Janus Enterprise and EQ/MFS International Growth. 1290 Diversified Bond and 1290 VT High Yield Bond also contributed relative
outperformance to the Portfolio.

***What hurt performance during the year?***

• Among the sector contributions, several of the Portfolio's U.S. equity holdings provided a substantial absolute
contribution to negative returns, especially EQ/Equity 500 Index and EQ/Small Company Index, which provided more than half the Portfolio's losses.

• On the bond side of the ledger, long-duration and high-quality bonds provided the most substantial drag on returns.
Long-term Treasury bonds were hurt the worst by rising interest rates because they have the least cushion from coupons.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged its benchmark. Equity
portfolios that struggled against their benchmarks in 2022 included EQ/Value Equity and Multimanager Aggressive Equity.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Table by Asset Class** (as a percentage of Total Investments in Securities) | &nbsp;&nbsp;&nbsp;**Table by Asset Class** (as a percentage of Total Investments in Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; Equity | 85.7% |
| &nbsp;&nbsp;&nbsp; Fixed Income | 14.3 |

---

------

**TARGET 2045 ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) | &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; EQ/Equity 500 Index Portfolio | 39.3% |
| &nbsp;&nbsp;&nbsp; EQ/International Equity Index Portfolio | 13.9 |
| &nbsp;&nbsp;&nbsp; EQ/Small Company Index Portfolio | 10.9 |
| &nbsp;&nbsp;&nbsp; EQ/MFS International Growth Portfolio | 7.4 |
| &nbsp;&nbsp;&nbsp; EQ/Emerging Markets Equity PLUS Portfolio | 5.2 |
| &nbsp;&nbsp;&nbsp; EQ/Value Equity Portfolio | 3.0 |
| &nbsp;&nbsp;&nbsp; 1290 VT High Yield Bond Portfolio | 2.8 |
| &nbsp;&nbsp;&nbsp; EQ/Core Plus Bond Portfolio | 2.5 |
| &nbsp;&nbsp;&nbsp; EQ/American Century Mid Cap Value Portfolio | 2.5 |
| &nbsp;&nbsp;&nbsp; EQ/Long-Term Bond Portfolio | 2.4 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses<br>Paid<br>During<br>Period\*<br>7/1/22 -**<br> **12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $1026.20 | $2.93 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.31 | 2.93 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1026.50 | 1.65 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.57 | 1.65 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.57% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.57% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.57% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.57% and 0.32%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of**<br> **Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: |  |  |
|  **Equity (85.8%)** |  |  |
|  EQ/American Century Mid Cap Value Portfolio‡ | 195059 | $4191365 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 1064860 | 8691855 |
|  EQ/Equity 500 Index Portfolio‡ | 1161781 | 66141937 |
|  EQ/International Equity Index Portfolio‡ | 2521590 | 23369313 |
|  EQ/Janus Enterprise Portfolio\*‡ | 192486 | 3727162 |
|  EQ/MFS International Growth Portfolio‡ | 1845551 | 12371328 |
|  EQ/Small Company Index Portfolio‡ | 1851513 | 18302313 |
|  EQ/Value Equity Portfolio‡ | 275554 | 5121122 |
|  Multimanager Aggressive Equity Portfolio\*‡ | 47559 | 2366883 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 144283278 |
|  **Fixed Income (14.3%)** |  |  |
|  1290 Diversified Bond Fund‡ | 294502 | 2650516 |
|  1290 VT High Yield Bond Portfolio‡ | 570719 | 4702965 |
|  EQ/Core Bond Index Portfolio‡ | 328539 | 2953990 |
|  EQ/Core Plus Bond Portfolio‡ | 1219068 | 4196988 |
|  EQ/Long-Term Bond Portfolio‡ | 576443 | 3991521 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 246938 | 2368842 |
|  EQ/Quality Bond PLUS Portfolio‡ | 418613 | 3167085 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 24031907 |
|  **Total Investments in Securities (100.1%)**<br> *(Cost $145,673,733)* |  | 168315185 |
|  **Other Assets Less Liabilities (-0.1%)** |  | (85369) |
|  **Net Assets (100%)** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168229816 |

---

*\** *Non-income producing.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from**<br>**Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change**<br>**in Unrealized**<br>**Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/**<br>**Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 195059 | 3482235 | 1521953 | (213977) | (815) | (598031) | 4191365 | 130988 | 422557 |
|  EQ/Emerging Markets Equity PLUS Portfolio | 1064860 | 9649132 | 1858961 | (398919) | 193 | (2417512) | 8691855 | 212604 | 441926 |
|  EQ/Equity 500 Index Portfolio | 1161781 | 81483310 | 7799105 | (6618379) | (58599) | (16463500) | 66141937 | 916070 | 1022405 |
|  EQ/International Equity Index Portfolio | 2521590 | 25188498 | 2746600 | (1025792) | (413) | (3539580) | 23369313 | 630922 |  |
|  EQ/Janus Enterprise Portfolio\* | 192486 | 2976134 | 1643906 | (113977) | 158 | (779059) | 3727162 |  | 245497 |
|  EQ/MFS International Growth Portfolio | 1845551 | 13931516 | 1721790 | (569884) | 56 | (2712150) | 12371328 | 139677 | 490071 |
|  EQ/Small Company Index Portfolio | 1851513 | 21797998 | 2558021 | (873823) | 371 | (5180254) | 18302313 | 225664 | 657890 |
|  EQ/Value Equity Portfolio | 275554 | 5892897 | 619868 | (327954) | (687) | (1063002) | 5121122 | 69947 | 113103 |
|  Multimanager Aggressive Equity Portfolio\* | 47559 | 3293216 | 636709 | (151969) | (209) | (1410864) | 2366883 |  | 345497 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 294502 | 2410191 | 622974 |  |  | (382649) | 2650516 | 82973 |  |
|  1290 VT High Yield Bond Portfolio | 570719 | 5127681 | 771979 | (407954) | (9387) | (779354) | 4702965 | 265161 |  |
|  EQ/Core Bond Index Portfolio | 328539 | 2882274 | 669861 | (283958) | (602) | (313585) | 2953990 | 56894 | 7550 |
|  EQ/Core Plus Bond Portfolio | 1219068 | 4608314 | 747514 | (440965) | (15690) | (702185) | 4196988 | 116252 | 3649 |
|  EQ/Long-Term Bond Portfolio | 576443 | 4790627 | 936432 | (170965) | (914) | (1563659) | 3991521 | 135927 | 2892 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 246938 | 2198783 | 372562 | (154981) | (289) | (47233) | 2368842 | 38397 | 2156 |
|  EQ/Quality Bond PLUS Portfolio | 418613 | 3233306 | 581664 | (264961) | (1390) | (381534) | 3167085 | 29848 | 22801 |
|  **Total** |  | **192946112** | **25809899** | **(12018458)** | **(88217)** | **(38334151)** | **168315185** | **3051324** | **3777994** |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in**<br> **Active Markets for**<br> **Identical**<br> **Securities** | **Level 2<br>Significant Other**<br> **Observable Inputs**<br> **(including quoted prices**<br> **for similar securities,**<br> **interest rates,**<br> **prepayment speeds,**<br> **credit risk, etc.)** | **Level 3<br>Significant Unobservable**<br> **Inputs (including the**<br> **Portfolio's own**<br> **assumptions in**<br> **determining the fair**<br> **value of investments)** | **Total** |
|  **Assets:** | **Assets:** | **Assets:** | **Assets:** |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650516 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165664669 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168315185 |
|  **Total Assets** | $**2650516** | $**165664669** | $**—** | $**168315185** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**2650516** | $**165664669** | $**—** | $**168315185** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $25809899 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12018458 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $32034877 |
|  Aggregate gross unrealized depreciation | (9474295) |
|  Net unrealized appreciation | $22560582 |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145754603 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $145,673,733) | $168315185.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 88879.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 80469.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 749.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 168485282.0 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 104053.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for securities purchased | 42779.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 33951.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 18803.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 14465.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 41415.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 255466.0 |
|  **NET ASSETS** | $168229816.0 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $142868860.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 25360956.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $168229816.0 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $158,103,098 / 12,804,671 shares outstanding (unlimited amount authorized: $0.01 par value) | $12.35 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $10,126,718 / 820,542 shares outstanding (unlimited amount authorized: $0.01 par value) | $12.34 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $3051324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 3052321 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 398313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 210832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 170865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 89000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 43829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 20044 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 5005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 2626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total expenses | 940514 |
|  **NET INVESTMENT INCOME (LOSS)** | 2111807 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | (88217) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 3777994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 3689777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (38334151) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (34644374) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(32532567) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $2111807 | $1676027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 3689777 | 8949995 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (38334151) | 15514002 |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (32532567) | 26140024 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (7962829) | (7208394) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (563672) | (615301) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (8526501) | (7823695) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 1,596,702 and 1,517,514 shares, respectively ] | 21477957 | 23239640 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 652,099 and 468,309 shares, respectively ] | 7962829 | 7208394 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (862182) and (768852) shares, respectively ] | (11733903) | (11781095) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | 17706883 | 18666939 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 0 and 6,866 shares, respectively ] |  | 105607 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 46,103 and 39,959 shares, respectively ] | 563672 | 615301 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (122088) and (71307) shares, respectively ] | (1634579) | (1086505) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | (1070907) | (365597) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | 16635976 | 18301342 |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (24423092) | 36617671 |
|  **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 192652908 | 156035237 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $168229816 | $192652908 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $15.64 | $14.03 | $12.72 | $10.69 | $11.93 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.17 | 0.14 | 0.14 | 0.19 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.80) | 2.13 | 1.62 | 2.39 | (1.10) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.63) | 2.27 | 1.76 | 2.58 | (0.94) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.17) | (0.29) | (0.19) | (0.19) | (0.18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) | (0.37) | (0.26) | (0.36) | (0.12) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.66) | (0.66) | (0.45) | (0.55) | (0.30) |
|  Net asset value, end of year | $12.35 | $15.64 | $14.03 | $12.72 | $10.69 |
|  Total return | (16.73)% | 16.29% | 14.07% | 24.32% | (7.97)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158103 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178632 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143119 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114928 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82506 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.57 %(j) | 0.56 %(k) | 0.59 %(m) | 0.60 %(m) | 0.59 %(m) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.57% | 0.56% | 0.60% | 0.62% | 0.64% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.23% | 0.93% | 1.13% | 1.56% | 1.34% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.23% | 0.93% | 1.11% | 1.53% | 1.29% |
|  Portfolio turnover rate^ | 7% | 10% | 12% | 6% | 8% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $15.64 | $14.02 | $12.71 | $10.68 | $11.92 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.18 | 0.17 | 0.14 | 0.19 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (2.79) | 2.15 | 1.65 | 2.42 | (1.07) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.61) | 2.32 | 1.79 | 2.61 | (0.91) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.20) | (0.33) | (0.22) | (0.22) | (0.21) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) | (0.37) | (0.26) | (0.36) | (0.12) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.69) | (0.70) | (0.48) | (0.58) | (0.33) |
|  Net asset value, end of year | $12.34 | $15.64 | $14.02 | $12.71 | $10.68 |
|  Total return | (16.58)% | 16.65% | 14.33% | 24.62% | (7.71)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10127 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14021 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12916 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14413 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13597 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f) | 0.32 %(j) | 0.31 %(k) | 0.34 %(m) | 0.35 %(m) | 0.34 %(m) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f) | 0.32% | 0.31% | 0.35% | 0.37% | 0.39% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers (f)(x) | 1.31% | 1.12% | 1.17% | 1.56% | 1.35% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers (f)(x) | 1.31% | 1.12% | 1.15% | 1.54% | 1.30% |
|  Portfolio turnover rate^ | 7% | 10% | 12% | 6% | 8% |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2045 ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS (Continued)

------

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.04% for Class B and 0.79% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.03% for Class B and 0.78% for Class K.* 

*(m)* *Including direct and indirect expenses, the net expense ratio after waivers would be 1.10% for Class B and 0.85% for Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**TARGET 2055 ALLOCATION PORTFOLIO (Unaudited)** 

INVESTMENT MANAGER

<sub>⮚</sub> Equitable Investment Management Group, LLC

PERFORMANCE RESULTS

![LOGO](g401146g08r38.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** | &nbsp;&nbsp;&nbsp;**Annualized Total Returns as of 12/31/22** |  |
|  | **1<br>Year** | **5<br>Years** | **Since<br>Incept.** |  |
| &nbsp;&nbsp;&nbsp; Portfolio – Class B Shares | (17.56)% | 5.32% | 6.50 | % |
| &nbsp;&nbsp;&nbsp; Portfolio – Class K Shares | (17.40) | 5.56 | 6.75 |  |
| &nbsp;&nbsp;&nbsp; S&P Target Date 2055 Index | (15.97) | 5.31 | 6.63 |  |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Returns for periods greater than one year are annualized.* |  |

---

*Past performance is not indicative of future results.* 

PERFORMANCE SUMMARY

The Portfolio's Class B shares returned (17.56)% for the year ended December 31, 2022. This compares to the Portfolio's benchmark, the S&P Target Date 2055 Index, which returned (15.97)% over the same period.

**Portfolio Highlights** 

In 2022, equities and bonds produced substantial losses, both domestically and internationally. Among bonds, short-term government issues and corporate bonds (with bigger coupons) mitigated some of the losses. Within equities, U.S. companies with lower valuations and higher dividends did relatively well. International stocks also outperformed their domestic counterparts.

Against this backdrop, the Portfolio underperformed its combination benchmark slightly. The Portfolio's equity allocation accounted for 97% of the negative total return.

***What helped performance during the year?***

• From an asset-allocation perspective, certain fixed income sectors mitigated the market's broad losses in 2022. The
Portfolio especially benefitted from holding short-term bonds, which were only slightly negative, or even positive at the very short end of the yield curve, for the year. Intermediate-term government and corporate bond holdings (as represented by
the Bloomberg U.S. Intermediate Government/Credit Bond Index) also outperformed the broad bond market (as represented by the Bloomberg U.S. Aggregate Bond Index) by around 500 basis points (a basis point is one hundredth of a percentage point).

• In addition, underlying holdings in the value equity sector, both the large-cap (as
measured by the Russell 1000 Value Index) and mid-cap ranges (as measured by the Russell Midcap Value Index), as well as international equities (as measured by the MSCI EAFE Index) provided a cushion against
falling prices, with between 360 to 500 basis points (a basis point is one hundredth of a percentage point) in outperformance compared to the S&P 500 Index.

• The Portfolio also owned a number of actively managed portfolios that outperformed their benchmarks. Equity portfolios that
outperformed their benchmarks by as much as 10 percentage points included EQ/American Century Mid Cap Value, EQ/Janus Enterprise and EQ/MFS International Growth. 1290 Diversified Bond and 1290 VT High Yield Bond also contributed relative
outperformance to the Portfolio.

***What hurt performance during the year?***

• Among the sector contributions, several of the Portfolio's U.S. equity holdings provided a substantial absolute
contribution to negative returns, especially EQ/Equity 500 Index and EQ/Small Company Index, which provided more than half the Portfolio's losses.

• On the bond side of the ledger, long-duration and high-quality bonds provided the most substantial drag on returns.
Long-term Treasury bonds were hurt the worst by rising interest rates because they have the least cushion from coupons.

• Most of the bond strategies hugged their benchmarks this year, however EQ/Quality Bond Plus lagged its benchmark. Equity
portfolios that struggled against their benchmarks in 2022 included EQ/Value Equity and Multimanager Aggressive Equity.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Table by Asset Class** (as a percentage of Total Investments in Securities) | &nbsp;&nbsp;&nbsp;**Table by Asset Class** (as a percentage of Total Investments in Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; Equity | 95.9% |
| &nbsp;&nbsp;&nbsp; Fixed Income | 4.1 |

---

------

**TARGET 2055 ALLOCATION PORTFOLIO (Unaudited)** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) | &nbsp;&nbsp;&nbsp;**Top 10 Holdings** (as a percentage of Total Investments in<br>Securities) |
| &nbsp;&nbsp;&nbsp;**As of December 31, 2022** | |
| &nbsp;&nbsp;&nbsp; EQ/Equity 500 Index Portfolio | 42.1% |
| &nbsp;&nbsp;&nbsp; EQ/International Equity Index Portfolio | 14.8 |
| &nbsp;&nbsp;&nbsp; EQ/Small Company Index Portfolio | 13.0 |
| &nbsp;&nbsp;&nbsp; EQ/MFS International Growth Portfolio | 10.0 |
| &nbsp;&nbsp;&nbsp; EQ/Emerging Markets Equity PLUS Portfolio | 5.6 |
| &nbsp;&nbsp;&nbsp; EQ/Value Equity Portfolio | 4.7 |
| &nbsp;&nbsp;&nbsp; Multimanager Aggressive Equity Portfolio | 2.7 |
| &nbsp;&nbsp;&nbsp; EQ/American Century Mid Cap Value Portfolio | 1.8 |
| &nbsp;&nbsp;&nbsp; 1290 VT High Yield Bond Portfolio | 1.3 |
| &nbsp;&nbsp;&nbsp; EQ/Janus Enterprise Portfolio | 1.3 |

---

UNDERSTANDING YOUR EXPENSES:

As a shareholder of the Portfolio, you incur two types of costs:

(1) transaction costs, including applicable sales charges and redemption fees; and (2) ongoing costs, including investment advisory fees, distribution and/or service (12b-1) fees (in the case of Class B shares of the Portfolio), and other Portfolio expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Portfolio and to compare these costs with the ongoing costs of investing in other mutual funds.

The examples are based on an investment of $1,000 invested at the beginning of the six-month period ended December 31, 2022 and held for the entire six-month period.

**Actual Expenses** 

The first line of the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled ''Expenses Paid During Period'' to estimate the expenses you paid on your account during this period.

**Hypothetical Example for Comparison Purposes** 

The second line of the following table provides information about hypothetical account values and hypothetical expenses based on the Portfolio's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Portfolio's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher. Also note that the table does not reflect any variable life insurance or variable annuity contract-related fees and expenses, which would increase overall fees and expenses.

EXAMPLE

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Beginning<br>Account<br>Value<br>7/1/22** | **Ending<br>Account<br>Value<br>12/31/22** | **Expenses<br>Paid<br>During<br>Period\*<br>7/1/22 -**<br> **12/31/22** |  |
| &nbsp;&nbsp;&nbsp; **Class B** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | $1000.00 | $1031.00 | $3.25 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1022.00 | 3.24 |  |
| &nbsp;&nbsp;&nbsp; **Class K** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Actual | 1000.00 | 1031.30 | 1.97 |  |
| &nbsp;&nbsp;&nbsp; Hypothetical (5% average annual return before expenses) | 1000.00 | 1023.26 | 1.96 |  |
| &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.63% and 0.39%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.63% and 0.39%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.63% and 0.39%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* | &nbsp;&nbsp;&nbsp; *\* Expenses are equal to the Portfolio's Class B and Class K shares annualized expense ratio of 0.63% and 0.39%, respectively, multiplied by the average account value over the period, and multiplied by 184/365 (to reflect the one-half year period).* |  |

---

------

**EQ PREMIER VIP TRUST** 

TARGET 2055 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS

December 31, 2022

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Value<br>(Note 1)** |
|  INVESTMENT COMPANIES: | INVESTMENT COMPANIES: | INVESTMENT COMPANIES: |
|  **Equity (95.9%)** | **Equity (95.9%)** | **Equity (95.9%)** |
|  EQ/American Century Mid Cap Value Portfolio‡ | 58727 | $1261910 |
|  EQ/Emerging Markets Equity PLUS Portfolio‡ | 485651 | 3964092 |
|  EQ/Equity 500 Index Portfolio‡ | 519267 | 29562629 |
|  EQ/International Equity Index Portfolio‡ | 1118626 | 10367081 |
|  EQ/Janus Enterprise Portfolio\*‡ | 46234 | 895246 |
|  EQ/MFS International Growth Portfolio‡ | 1048991 | 7031728 |
|  EQ/Small Company Index Portfolio‡ | 925926 | 9152826 |
|  EQ/Value Equity Portfolio‡ | 176347 | 3277379 |
|  Multimanager Aggressive Equity Portfolio\*‡ | 37983 | 1890312 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Equity** |  | 67403203 |
|  **Fixed Income (4.1%)** |  |  |
|  1290 Diversified Bond Fund‡ | 34464 | 310178 |
|  1290 VT High Yield Bond Portfolio‡ | 111744 | 920818 |
|  EQ/Core Bond Index Portfolio‡ | 46674 | 419657 |
|  EQ/Core Plus Bond Portfolio‡ | 123328 | 424592 |
|  EQ/Long-Term Bond Portfolio‡ | 69164 | 478916 |
|  EQ/PIMCO Ultra Short Bond Portfolio‡ | 14886 | 142799 |
|  EQ/Quality Bond PLUS Portfolio‡ | 26811 | 202840 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Fixed Income** |  | 2899800 |
|  **Total Investments in Securities (100.0%)**<br> *(Cost $71,889,175)* |  | 70303003 |
|  **Other Assets Less Liabilities (0.0%)†** |  | (7088) |
|  **Net Assets (100%)** |  | $70295915 |

---

*\** *Non-income producing.* 

*†* *Percent shown is less than 0.05%.* 

*‡* *All, or a portion, of the security is an affiliated company as defined under the Investment Company Act of 1940.* 

The holdings in affiliated Investment Companies are all Class K shares except for the following: 1290 Diversified Bond Fund are Class I shares.

------

Investments in companies which were affiliates for the year ended December 31, 2022, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Shares at<br>December 31,<br>2022** | **Market Value<br>December 31,<br>2021 ($)** | **Purchases<br>at Cost ($)** | **Proceeds<br>from<br>Sales ($)** | **Net<br>Realized<br>Gain<br>(Loss) ($)** | **Change<br>in Unrealized<br>Appreciation/<br>(Depreciation)<br>($)** | **Market Value<br>December 31,<br>2022 ($)** | **Dividend/<br>Interest<br>Income<br>($)** | **Capital Gain<br>Distributions<br>($)** |
|  INVESTMENT COMPANIES: |  |  |  |  |  |  |  |  |  |
|  **Equity** |  |  |  |  |  |  |  |  |  |
|  EQ/American Century Mid Cap Value Portfolio | 58727 | 848004 | 674453 | (83606) | (360) | (176581) | 1261910 | 39229 | 126567 |
|  EQ/Emerging Markets Equity PLUS Portfolio | 485651 | 3846063 | 1251451 | (108589) | 33 | (1024866) | 3964092 | 95839 | 199790 |
|  EQ/Equity 500 Index Portfolio | 519267 | 31978982 | 6656912 | (2282058) | (4241) | (6786966) | 29562629 | 405899 | 449212 |
|  EQ/International Equity Index Portfolio | 1118626 | 9794178 | 2233817 | (273834) | 301 | (1387381) | 10367081 | 277395 |  |
|  EQ/Janus Enterprise Portfolio\* | 46234 | 561658 | 533092 | (18885) | 6 | (180625) | 895246 |  | 58167 |
|  EQ/MFS International Growth Portfolio | 1048991 | 6905956 | 1702393 | (188851) | 154 | (1387924) | 7031728 | 78497 | 274640 |
|  EQ/Small Company Index Portfolio | 925926 | 9564273 | 2224833 | (250227) | 4 | (2386057) | 9152826 | 111896 | 325174 |
|  EQ/Value Equity Portfolio | 176347 | 3253662 | 722543 | (84983) | (17) | (613826) | 3277379 | 44401 | 70977 |
|  Multimanager Aggressive Equity Portfolio\* | 37983 | 2327216 | 677464 | (56655) | (6) | (1057707) | 1890312 |  | 272687 |
|  **Fixed Income** |  |  |  |  |  |  |  |  |  |
|  1290 Diversified Bond Fund | 34464 | 261827 | 83992 |  |  | (35641) | 310178 | 8992 |  |
|  1290 VT High Yield Bond Portfolio | 111744 | 760030 | 323792 | (28328) | (64) | (134612) | 920818 | 51402 |  |
|  EQ/Core Bond Index Portfolio | 46674 | 334410 | 143936 | (18885) | (6) | (39798) | 419657 | 7964 | 1046 |
|  EQ/Core Plus Bond Portfolio | 123328 | 299536 | 191992 | (9443) | (54) | (57439) | 424592 | 11684 | 349 |
|  EQ/Long-Term Bond Portfolio | 69164 | 485647 | 177679 | (14164) | (33) | (170213) | 478916 | 16149 | 335 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 14886 |  | 144955 |  |  | (2156) | 142799 | 2324 | 130 |
|  EQ/Quality Bond PLUS Portfolio | 26811 |  | 212855 |  |  | (10015) | 202840 | 1921 | 934 |
|  **Total** |  | **71221442** | **17956159** | **(3418508)** | **(4283)** | **(15451807)** | **70303003** | **1153592** | **1780008** |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2055 ALLOCATION PORTFOLIO

PORTFOLIO OF INVESTMENTS (Continued)

December 31, 2022

The following is a summary of the inputs, summarized in three broad levels, used to value the Portfolio's assets and liabilities carried at fair value as of December 31, 2022:

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Investment Type** | **Level 1<br>Quoted Prices in<br>Active Markets for<br>Identical<br>Securities** | **Level 2<br>Significant Other<br>Observable Inputs<br>(including quoted prices<br>for similar securities,<br>interest rates,<br>prepayment speeds,<br>credit risk, etc.)** | **Level 3<br>Significant Unobservable<br>Inputs (including the<br>Portfolio's own<br>assumptions in<br>determining the fair<br>value of investments)** | **Total** |
|  **Assets:** |  |  |  |  |
|  **Investment Companies** |  |  |  |  |
|  Investment Companies | $310178 | $69992825 | $— | $70303003 |
|  **Total Assets** | $**310178** | $**69992825** | $**—** | $**70303003** |
|  **Total Liabilities** | $**—** | $**—** | $**—** | $**—** |
|  **Total** | $**310178** | $**69992825** | $**—** | $**70303003** |

---

The Portfolio held no derivatives contracts during the year ended December 31, 2022.

Investment security transactions for the year ended December 31, 2022 were as follows:

---

| | |
|:---|:---|
|  **Cost of Purchases:** |  |
|  Long-term investments other than U.S. government debt securities | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17956159 |
|  **Net Proceeds of Sales and Redemptions:** |  |
|  Long-term investments other than U.S. government debt securities | $3418508 |

---

As of December 31, 2022, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investments in securities and derivative instruments, if applicable, for Federal income tax purposes was as follows:

---

| | |
|:---|:---|
|  Aggregate gross unrealized appreciation | $3766595 |
|  Aggregate gross unrealized depreciation | (5427318) |
|  Net unrealized depreciation | $(1660723) |
|  Federal income tax cost of investments in securities and derivative instruments, if applicable | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71963726 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2055 ALLOCATION PORTFOLIO

------

***STATEMENT OF ASSETS AND LIABILITIES***

***December 31, 2022***

---

| | |
|:---|:---|
|  **ASSETS** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Issuers (Cost $71,889,175) | $70303003 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 28982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for Portfolio shares sold | 53755 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other assets | 429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets | 70386169 |
|  **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for securities purchased | 22526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees payable – Class B | 14932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees payable | 7805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees payable | 3489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for Portfolio shares redeemed | 188 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 41314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 90254 |
|  **NET ASSETS** | $70295915 |
|  Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paid in capital | $71271822 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (975907) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets | $70295915 |
|  **Class B** |  |
|  Net asset value, offering and redemption price per share, $69,933,304 / 5,489,877 shares outstanding (unlimited amount authorized: $0.01 par value) | $12.74 |
|  **Class K** |  |
|  Net asset value, offering and redemption price per share, $362,611 / 28,455 shares outstanding (unlimited amount authorized: $0.01 par value) | $12.74 |

---

***STATEMENT OF OPERATIONS***

***For the Year Ended December 31, 2022***

---

| | |
|:---|:---|
|  **INVESTMENT INCOME** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends (All dividend income received from affiliates) | $1153592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest | 653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total income | 1154245 |
|  **EXPENSES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distribution fees – Class B | 165988 |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative fees | 82495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 73000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment management fees | 66777 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 40107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and mailing expenses | 13024 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 1895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Recoupment fees | 211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 2668 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gross expenses | 446165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Waiver from investment manager | (20466) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net expenses | 425699 |
|  **NET INVESTMENT INCOME (LOSS)** | 728546 |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** | **REALIZED AND UNREALIZED GAIN (LOSS)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investments in securities (All realized gain (loss) from affiliates) | (4283) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net distributions of realized gain received from underlying funds (All realized gains received from affiliates) | 1780008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1775725 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments in securities (All of change in unrealized appreciation (depreciation) from affiliates) | (15451807) |
|  **NET REALIZED AND UNREALIZED GAIN (LOSS)** | (13676082) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $(12947536) |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2055 ALLOCATION PORTFOLIO

------

***STATEMENT OF CHANGES IN NET ASSETS***

---

| | | |
|:---|:---|:---|
|  | **Year Ended December 31,** | **Year Ended December 31,** |
|  | **2022** | **2021** |
|  **INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $728546 | $496579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1775725 | 3793035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | (15451807) | 5382837 |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | (12947536) | 9672451 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Distributions to shareholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B | (3546483) | (2109788) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class K | (19950) | (15146) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total distributions to shareholders | (3566433) | (2124934) |
|  **CAPITAL SHARES TRANSACTIONS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class B** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 1,197,420 and 1,102,844 shares, respectively ] | 16549787 | 17397689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 282,121 and 132,046 shares, respectively ] | 3546482 | 2109788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (325166) and (288076) shares, respectively ] | (4499209) | (4491118) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class B transactions | 15597060 | 15016359 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class K** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares sold [ 1 and 1,399 shares, respectively ] | 20 | 21161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares issued in reinvestment of dividends and distributions [ 1,584 and 947 shares,<br>respectively ] | 19950 | 15146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares repurchased [ (1126) and (16612) shares, respectively ] | (16712) | (260748) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Class K transactions | 3258 | (224441) |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL SHARE TRANSACTIONS** | 15600318 | 14791918 |
|  **TOTAL INCREASE (DECREASE) IN NET ASSETS** | (913651) | 22339435 |
|  **NET ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of year | 71209566 | 48870131 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of year | $70295915 | $71209566 |

---

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

TARGET 2055 ALLOCATION PORTFOLIO

FINANCIAL HIGHLIGHTS

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| <br>**Class B** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $16.32 | $14.24 | $12.63 | $10.10 | $11.25 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.15 | 0.13 | 0.14 | 0.20 | 0.18 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (3.03) | 2.46 | 1.73 | 2.50 | (1.16) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.88) | 2.59 | 1.87 | 2.70 | (0.98) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.15) | (0.32) | (0.19) | (0.17) | (0.17) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.55) | (0.19) | (0.07) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.70) | (0.51) | (0.26) | (0.17) | (0.17) |
|  Net asset value, end of year | $12.74 | $16.32 | $14.24 | $12.63 | $10.10 |
|  Total return | (17.56)% | 18.30% | 14.89% | 26.75% | (8.74)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69933 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70752 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248268 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30814 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15557 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers and reimbursements (f) | 0.64 %(j) | 0.66 %(k)(o) | 0.59 %(j) | 0.59 %(j) | 0.58 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers and reimbursements (f) | 0.67% | 0.68% | 0.82% | 0.88% | 1.06% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers and reimbursements (f)(x) | 1.09% | 0.82% | 1.15% | 1.68% | 1.57% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers and reimbursements (f)(x) | 1.06% | 0.80% | 0.92% | 1.39% | 1.10% |
|  Portfolio turnover rate^ | 5% | 6% | 8% | 28% | 4% |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| **Class K** | **2022** | **2021** | **2020** | **2019** | **2018** |
|  Net asset value, beginning of year | $16.33 | $14.25 | $12.63 | $10.10 | $11.26 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) (e)(x) | 0.17 | 0.12 | 0.12 | (0.01) | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) | (3.03) | 2.51 | 1.79 | 2.74 | (1.13) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total from investment operations | (2.86) | 2.63 | 1.91 | 2.73 | (0.97) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Less distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.18) | (0.36) | (0.22) | (0.20) | (0.19) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.55) | (0.19) | (0.07) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.73) | (0.55) | (0.29) | (0.20) | (0.19) |
|  Net asset value, end of year | $12.74 | $16.33 | $14.25 | $12.63 | $10.10 |
|  Total return | (17.40)% | 18.57% | 15.21% | 27.03% | (8.57)% |
|  **Ratios/Supplemental Data:** |  |  |  |  |  |
|  Net assets, end of year (000's) | $363 | $457 | $602 | $852 | $6515 |
|  Ratio of expenses to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers and reimbursements (f) | 0.39 %(j) | 0.41 %(k)(o) | 0.34 %(j) | 0.34 %(j) | 0.33 %(j) |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers and reimbursements (f) | 0.42% | 0.44% | 0.58% | 0.63% | 0.80% |
|  Ratio of net investment income (loss) to average net assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; After waivers and reimbursements (f)(x) | 1.19% | 0.75% | 0.99% | (0.07)% | 1.36% |
| &nbsp;&nbsp;&nbsp;&nbsp; Before waivers and reimbursements (f)(x) | 1.16% | 0.72% | 0.75% | (0.37)% | 0.89% |
|  Portfolio turnover rate^ | 5% | 6% | 8% | 28% | 4% |

---

*^* *Portfolio turnover rate excludes derivatives, if any.* 

*(e)* *Net investment income (loss) per share is based on average shares outstanding.* 

*(f)* *Expenses do not include the expenses of the underlying funds ("indirect expenses"), if applicable.* 

*(j)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.10% for Class B and 0.85% for Class K.* 

*(k)* *Including direct and indirect expenses, the net expense ratio after waivers and reimbursements would be 1.12% for Class B and 0.87% for Class K.* 

*(o)* *Includes extraordinary expenses of 0.02% and 0.02% for Class B and Class K.* 

*(x)* *Recognition of net investment income is affected by the timing of dividend declarations by the underlying funds in which the Portfolio invests.* 

See Notes to Financial Statements.

------

**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS

December 31, 2022

Note 1 Organization and Significant Accounting Policies

EQ Premier VIP Trust (the "Trust"), was organized as a Delaware statutory trust on October 2, 2001 and is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Trust currently offers eleven diversified Portfolios (each, a "Portfolio" and together, the "Portfolios"). The investment adviser to each Portfolio is Equitable Investment Management Group, LLC ("EIM" or the "Adviser"), a wholly-owned subsidiary of Equitable Financial Life Insurance Company ("Equitable Financial").

Each of the EQ/Conservative Allocation Portfolio, EQ/Conservative-Plus Allocation Portfolio, EQ/Moderate Allocation Portfolio, EQ/Moderate-Plus Allocation Portfolio and EQ/Aggressive Allocation Portfolio (each, an "EQ Allocation Portfolio" and together, the "EQ Allocation Portfolios") and the Target 2015 Allocation Portfolio, Target 2025 Allocation Portfolio, Target 2035 Allocation Portfolio, Target 2045 Allocation Portfolio and Target 2055 Allocation Portfolio (each, a "Target Allocation Portfolio" and together, the "Target Allocation Portfolios") pursues its investment objective by investing exclusively in other affiliated mutual funds managed by EIM. Each of the above referenced Portfolios are fund-of-funds. The underlying funds' financial statements are included in the underlying funds' annual reports, which are filed with the SEC on Form N-CSR and publicly available through the SEC's EDGAR database (https://www.sec.gov/edgar/searchedgar/ companysearch.html).

The EQ/Core Plus Bond Portfolio may utilize multiple investment sub-advisers (each, a "Sub- Adviser"). Each of the Sub-Advisers independently chooses and maintains a portfolio of securities for the Portfolio and each is responsible for investing a specific allocated portion of the Portfolio's assets. Because each Sub-Adviser will invest its allocated portion of the Portfolio independently from the other Sub-Advisers, the same security may be held in different portions of the Portfolio, or may be acquired for one portion of the Portfolio at a time when the Sub-Adviser of another portion deems it appropriate to dispose of the security. Similarly, under some market conditions, one Sub- Adviser may believe that temporary defensive investments in short-term instruments or cash are appropriate when the other Sub-Adviser believes continued exposure to the equity or fixed income markets is appropriate for their allocated portions of the Portfolio. Because each Sub-Adviser is responsible for the trading for its own portion of the Portfolio, and does not aggregate its transactions with those of the other Sub-Adviser, the Portfolio may incur higher brokerage costs, and may have higher portfolio turnover, than would be the case if a single Sub-Adviser were managing the entire Portfolio.

The Trust issues three classes of shares, Class A, Class B and Class K. The Class A and Class B shares are each subject to distribution fees imposed under distribution plans ("Distribution Plans") adopted pursuant to Rule 12b-1 under the 1940 Act. Under the Trust's multiple class distribution system, each class of shares has identical voting, dividend, liquidation and other rights, other than the payment of distribution fees under the applicable Distribution Plan. The Trust's shares are currently sold only to insurance company separate accounts in connection with variable life insurance contracts and variable annuity certificates and contracts issued by Equitable Financial, or other affiliated or unaffiliated insurance companies, and to the Equitable Financial 401(k) Plan. Shares also may be sold to other tax-qualified retirement plans.

*The investment objectives of each Portfolio are as follows:* 

EQ/Conservative Allocation Portfolio — Seeks to achieve a high level of current income.

EQ/Conservative-Plus Allocation Portfolio — Seeks to achieve current income and growth of capital, with a greater emphasis on current income.

EQ/Moderate Allocation Portfolio — Seeks to achieve long-term capital appreciation and current income.

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**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

EQ/Moderate-Plus Allocation Portfolio — Seeks to achieve long-term capital appreciation and current income, with a greater emphasis on capital appreciation.

EQ/Aggressive Allocation Portfolio — Seeks to achieve long-term capital appreciation.

EQ/Core Plus Bond Portfolio (sub-advised by AXA Investment Managers US Inc., Brandywine Global Investment Management, LLC and Loomis, Sayles & Company, L.P.) — Seeks to achieve high total return through a combination of current income and capital appreciation. Effective January 1, 2022, AXA Investment Managers, Inc. was renamed AXA Investment Managers US Inc.

Target 2015 Allocation Portfolio — Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income.

Target 2025 Allocation Portfolio — Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income.

Target 2035 Allocation Portfolio — Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income.

Target 2045 Allocation Portfolio — Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income.

Target 2055 Allocation Portfolio — Seeks the highest total return over time consistent with its asset mix. Total return includes capital growth and income.

*The following is a summary of the significant accounting policies of the Trust:* 

The preparation of financial statements in accordance with United States of America generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The Portfolios are investment companies and, accordingly, follow the Investment Company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946 — *Investment Companies,* which is part of U.S. GAAP.

Valuation:

Equity securities (including securities issued by ETFs) listed on national securities exchanges are generally valued at the last sale price or official closing price on the date of valuation or, if there is no sale or official closing price, at the latest available bid price. Securities listed on the NASDAQ stock market will be valued using the NASDAQ Official Closing Price ("NOCP"). Other unlisted stocks are generally valued at their last sale price or official closing price, or if there is no such price, at a bid price estimated by a broker.

Corporate and municipal bonds and notes are generally valued on the basis of prices provided by a pricing service. The pricing services may utilize many inputs that are observable in making evaluations which may include, but are not limited to, trading activity for similar securities, issuer details, yields, default rates, credit spreads, quoted prices and any developments related to the specific securities. However, when such prices are not available, such bonds and notes are generally fair valued at a bid price estimated by a broker.

Mortgage-backed and asset-backed securities are generally valued at evaluated prices obtained from a pricing service where available, or fair valued at a bid price obtained from one or more of the major dealers in such securities. The pricing service may utilize data such as issuer type, coupon, cash flows, collateral performance, mortgage prepayment projection tables and Adjustable Rate Mortgage evaluations that incorporate index data, periodic and life caps, the next coupon reset date and the convertibility of the bond in making evaluations. If a quoted price is unavailable, an equivalent yield or yield spread quotes may be obtained from a broker and converted to a price.

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**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

U.S. Treasury securities and other obligations issued or guaranteed by the U.S. Government, its agencies or instrumentalities, are generally valued at prices obtained from a bond pricing service where available. The pricing service may utilize data received from active market makers and broker- dealers yield curves and the spread over comparable U.S. Treasury issues in making evaluations.

Foreign securities, including foreign government securities, not traded directly in the U.S., or traded in American Depositary Receipts ("ADR") or similar form, are generally valued at representative quoted prices from the primary exchange in the currency of the country of origin. Foreign currency is converted into U.S. dollar equivalent at current exchange rates.

Investments in shares of open-end investment companies (other than ETFs) held by a Portfolio are generally valued at the net asset value ("NAV") of the shares of such funds as described in the underlying funds' prospectuses.

Futures contracts are generally valued at their last settlement price or, if there is no sale, at the latest available bid price.

Forward foreign currency contracts are generally valued by interpolating between the forward and spot currency rates as quoted by a pricing service as of a designated hour on the valuation date. The pricing service may utilize data such as actual trading information and foreign currency rates gathered from leading market makers and foreign currency trading centers throughout the world in making evaluations. Forward foreign currency contracts may be settled with the counterparty in U.S. dollars without the delivery of foreign currency.

Swap agreements are two party contracts entered into primarily by institutional investors for periods ranging from a few weeks to more than one year. Swaps are marked-to-market daily based upon values from third party vendors, which may include a registered exchange, or quotations from market makers to the extent available. In the event that market quotes are not readily available and the swap cannot be valued pursuant to one of the valuation methods, the fair value of the swap will be determined in good faith by the Trust's Valuation Committee (as discussed below).

Securities for which market quotations are readily available are valued at their market value. All other securities are valued at their fair value, as determined in good faith by the Board of Trustees (the "Board") of the Trust. In accordance with Rule 2a-5 under the Investment Company Act of 1940, as amended, the Board has designated EIM, the investment adviser to the Trust, as its valuation designee (the "Valuation Designee"). As Valuation Designee, EIM, subject to the oversight of the Board, is responsible for making fair valuation determinations in accordance with procedures (the "Pricing Procedures") approved by the Board. EIM's day-to-day responsibilities as Valuation Designee are performed by a valuation committee established by EIM (the "Committee").

EIM has appointed Equitable Investment Management, LLC (the "Administrator") to oversee the calculation of the net asset value ("NAV") of the Portfolios and their respective share classes. The Administrator has entered into a sub-administration agreement with JPMorgan Chase Bank, N.A. (the "Sub-Administrator") to assist in performing certain duties, including the calculation of the Portfolios' NAVs.

Due to the inherent uncertainty of the valuation of securities for which market quotations are not readily available, the fair value of such securities may differ significantly from the values that would have been used had a ready market for such securities existed.

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

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

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

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

------

**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

A summary of inputs used to value each Portfolio's assets and liabilities carried at fair value as of December 31, 2022 is included in the Portfolio of Investments for each Portfolio. Changes in valuation techniques may result in transfers in or out of an investment's assigned level.

Transfers into and transfers out of Level 3 are included in the Level 3 reconciliation following the Portfolio of Investments for each Portfolio, if any. Transfers between levels may be due to a decline, or an increase, in market activity (e.g., frequency of trades), which may result in a lack of, or increase in, available observable market inputs to determine price.

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

The Committee has the ability to meet and review reports based on the valuation techniques used to fair value Level 3 securities. As part of a review, the Committee would consider obtaining updates from its pricing vendors for fair valued securities. For example, with respect to model driven prices, the Committee may receive reports regarding a review and recalculation of pricing models and related discounts. For those securities which are valued based on broker quotes, the Committee may evaluate variances between existing broker quotes and any alternative broker quotes or other pricing source.

To substantiate unobservable inputs used in a fair valuation, the Committee may perform an independent verification as well as additional research for fair value notifications received from the pricing agents. Among other factors, particular areas of focus may include description of security, historical pricing, intra-day price movement, last trade information, corporate actions, related securities, any available company news and announcements, any available trade data or other information. The Committee also notes the materiality of holdings and price changes on a Portfolio's NAV.

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

Events or circumstances affecting the values of Portfolio securities that occur between the closing of their principal markets and the time the NAV is determined may be reflected in the Trust's calculation of a NAV for each applicable Portfolio when the Committee deems that the particular event or circumstance would materially affect such Portfolio's NAV.

Security Transactions and Investment Income:

Securities transactions are recorded on the trade date net of brokerage fees, commissions, and transfer fees. Dividend income (net of withholding taxes) and distributions to shareholders are recorded on the ex-dividend date, except that certain dividends from foreign securities, if any, are recognized as soon as the Portfolio is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the market value or fair value, as applicable, of the asset received. Interest income (including amortization of premium and accretion of discount on long-term securities using the effective yield method) and interest expense are accrued daily. The Trust records paydown gains and losses realized on prepayments received on mortgage-backed securities as an adjustment to interest income.

The Portfolios record distributions received in excess of income from underlying investments as a reduction of cost of investments and/or realized gain. Those classified as short-term gain distributions are reflected as such for book but as ordinary income for tax. Such amounts are based on estimates if actual amounts are not available and actual amounts of income, realized gain and return of capital may differ from the estimated amounts. The Portfolios adjust the estimated amounts of components of distributions (and consequently its net investment income) as necessary once the issuers provide information about the actual composition of the distributions.

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**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

Realized gains and losses on the sale of investments are computed on the basis of the specific identified cost of the investments sold. Unrealized appreciation (depreciation) on investments and foreign currency assets and/or liabilities, if any, is presented within total distributable earnings (loss) in the Statements of Assets and Liabilities.

Allocation of Expenses and Income:

Expenses attributable to a single Portfolio or class are charged to that Portfolio or class. Expenses of the Trust not attributable to a single Portfolio or class are charged to each Portfolio or class in proportion to the average net assets of each Portfolio or other appropriate allocation methods.

All income earned and expenses incurred by each Portfolio are borne on a pro-rata basis by each outstanding class of shares, based on the proportionate interest in the Portfolio represented by the daily net assets of such class, except for distribution fees which are charged on a class specific basis.

Foreign Currency Valuation:

The books and records of the Portfolios are kept in U.S. dollars. Foreign currency amounts are translated into U.S. dollars at current exchange rates at the following dates:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Market value or fair value, as applicable, of investment securities, other assets and liabilities — at the valuation
date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Purchases and sales of investment securities, income and expenses — at the date of such transactions.

The Portfolios do not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments.

Reported realized foreign currency gains and losses arise from the disposition of foreign currency, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on each Portfolio's books on the transaction date and the U.S. dollar equivalent of the amounts actually received or paid. These reported realized foreign currency gains and losses are included in Net realized gain (loss) on foreign currency transactions on the Statements of Operations. Unrealized foreign currency gains and losses arise from changes (due to changes in exchange rates) in the value of foreign currency and other assets and liabilities denominated in foreign currencies held at period end and are included in Change in net unrealized appreciation/depreciation on foreign currency translations on the Statements of Operations.

Taxes:

Each Portfolio intends to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies ("RICs") and to distribute substantially all of its net investment income and net realized capital gains to shareholders of each Portfolio. Therefore, no Federal, state and local income tax provisions are required.

The Portfolios are not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. However, the Portfolios' conclusions may be subject to future review based on changes in, or the interpretation of, the accounting standards or tax laws and regulations. The Portfolios recognize interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statements of Operations. During the year ended December 31, 2022, the Portfolios did not incur any interest or penalties. Each of the tax years in the four-year period ended December 31, 2022 remains subject to examination by the Internal Revenue Service, state and local taxing authorities.

------

**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

Dividends from net investment income, if any, are declared and distributed at least annually for all Portfolios. Dividends from net realized short-term and long-term capital gains are declared and distributed at least annually to the shareholders of a Portfolio to which such gains are attributable. All dividends are reinvested in additional full and fractional shares of the related Portfolios. All distributions are calculated on a tax basis and, as such, the amounts may differ from financial statement investment income and realized gains. For the Portfolios, the cumulative significant differences related to the tax composition of undistributed ordinary income and long term gains are primarily due to capital loss carryforwards (EQ/Core Plus Bond) and conversion transactions (EQ/Moderate-Plus Allocation and EQ/Aggressive Allocation). In addition, short- term capital gains and foreign currency gains are treated as capital gains for U.S. GAAP purposes but are considered ordinary income for tax purposes. Capital and net specified losses incurred after October 31 and within the taxable year are deemed to arise on the first business day of a Portfolio's next taxable year. The tax character of distributions for the years ended December 31, 2022 and December 31, 2021 and the tax composition of undistributed ordinary income and undistributed long-term gains at December 31, 2022 are presented in the following table:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **As of December 31, 2022** | **As of December 31, 2022** | **Year Ended December 31, 2021** | **Year Ended December 31, 2021** |
| **Portfolios:** | **Distributed<br>Ordinary<br>Income** | **Distributed<br>Long Term<br>Gains** | **Accumulated<br>Undistributed<br>Ordinary<br>Income** | **Accumulated<br>Undistributed<br>Long Term<br>Gains** | **Distributed<br>Ordinary<br>Income** | **Distributed<br>Long Term<br>Gains** |
|  EQ/Conservative Allocation | $12339418 | $31699415 | $— | $3878881 | $17115388 | $36752202 |
|  EQ/Conservative-Plus Allocation | 12530699 | 65796303 |  | 10384312 | 29910686 | 61532969 |
|  EQ/Moderate Allocation | 75505542 | 462107352 |  | 72433161 | 231626540 | 386627581 |
|  EQ/Moderate-Plus Allocation | 78347424 | 768538150 |  | 121323405 | 394959988 | 599855901 |
|  EQ/Aggressive Allocation | 27345006 | 409693373 |  | 56383605 | 179905260 | 264997348 |
|  EQ/Core Plus Bond | 20126587 | 574709 | 4172090 |  | 16753023 | 2407190 |
|  Target 2015 Allocation | 682829 | 2176003 |  | 508086 | 840997 | 3908391 |
|  Target 2025 Allocation | 2479036 | 10865266 |  | 2637998 | 3721135 | 11610109 |
|  Target 2035 Allocation | 2825590 | 7077210 |  | 2787597 | 4196212 | 5962823 |
|  Target 2045 Allocation | 2274922 | 6251579 |  | 2800376 | 3597864 | 4225831 |
|  Target 2055 Allocation | 767824 | 2798609 |  | 816301 | 1322705 | 802229 |

---

There was no Return of Capital for 2021 or 2022.

Permanent book and tax basis differences resulted in reclassifications to undistributed net investment income (loss), accumulated net realized gain (loss) and paid-in-capital at December 31, 2022 as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolios:** | **Undistributed<br>Net Investment<br>Income (Loss) (a)** | **Accumulated<br>Net Realized<br>Gain (Loss) (a)** | **Paid In<br>Capital** |
|  EQ/Conservative Allocation | $776454 | $(776454) | $— |
|  EQ/Conservative-Plus Allocation | 981879 | (981879) |  |
|  EQ/Moderate Allocation | 6374493 | (6374493) |  |
|  EQ/Moderate-Plus Allocation | 9038185 | (9038185) |  |
|  EQ/Aggressive Allocation | 4429508 | (4429508) |  |
|  EQ/Core Plus Bond | 485574 | (485574) |  |
|  Target 2015 Allocation | 72772 | (72772) |  |
|  Target 2025 Allocation | 171913 | (171913) |  |
|  Target 2035 Allocation | 154465 | (154465) |  |
|  Target 2045 Allocation | 144405 | (144405) |  |
|  Target 2055 Allocation | 77344 | (77344) |  |

---

(a) These components of net assets are included in Total Distributable Earnings (Loss) in the Statement of Assets and
Liabilities

------

**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

Net capital and net specified gains/losses incurred after October 31, and within the taxable year are deemed to arise on the first business day of the Portfolio's next taxable year. For the year ended December 31, 2022, the following Portfolios deferred to January 1, 2023 post-October losses of:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolios:** | **Specified<br>Loss** | **Short-Term<br>Capital Loss<br>(gain)** | **Long-Term<br>Capital Loss<br>(gain)** |
|  EQ/Conservative Allocation | $– $| 4744 | $— |
|  EQ/Moderate Allocation | – | 940985 |  |
|  EQ/Core Plus Bond | – | 4345473 | (1613444) |
|  Target 2015 Allocation | – | 1336 |  |
|  Target 2025 Allocation | – | 15526 |  |

---

The following Portfolios utilized net capital loss carry forwards during the year and/or have capital losses incurred that will be carried forward:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Utilized** | **Utilized** | **Losses carried forward** | **Losses carried forward** |
| **Portfolios:** | **Short Term** | **Long Term** | **Short Term** | **Long Term** |
|  EQ/Core Plus Bond | $— | $— | $39148781 | $24705624 |
|  Target 2055 Allocation | 506454 |  | 131484 |  |

---

A portion of EQ/Core Plus Bond and Target 2055 Allocation's capital loss carryforwards are subject to an annual limitation under the Internal Revenue Code and related regulations.

Accounting for Derivative Instruments:

Following is a description of how and why the Portfolios use derivative instruments, the type of derivatives utilized by the Portfolios during the reporting period, as well as the primary underlying risk exposures related to each instrument type. Derivatives accounted for as hedging instruments must be disclosed separately from those that do not qualify for hedge accounting. Even though the Portfolios may use derivatives in an attempt to achieve an economic hedge, the Portfolio's derivatives are not accounted for as hedging instruments because the Portfolios account for their derivatives at fair value and record any changes in fair value in current period earnings in the Statement of Operations. All open derivative positions at period end are reflected on each respective Portfolio's Portfolio of Investments. The volume of derivative activity, based on month-end notional amounts during the period is also noted in each respective Portfolio's Portfolio of Investments. Portfolio securities are reserved and/or pledged with the custodian as collateral for current or potential derivative holdings as necessary throughout the year.

Futures Contracts and Foreign Currency Contracts:

The futures contracts used by the Portfolios are agreements to buy or sell a financial instrument for a set price in the future. Certain Portfolios buy or sell futures contracts for the purpose of protecting their Portfolio securities against future changes in interest rates and indices which might adversely affect the value of the Portfolios' securities or the price of securities that they intend to purchase at a later date. Initial margin deposits are made upon entering into futures contracts and can be in cash, certain money market instruments, treasury securities or other liquid, high grade debt securities. During the period the futures contracts are open, changes in the market price of the contracts are recognized as unrealized gains or losses by "marking-to-market" at the end of each trading day. Variation margin payments on futures contracts are received or made, depending upon whether unrealized gains or losses are incurred. When the contract is closed, the Portfolio records a realized gain or loss equal to the difference between the proceeds from or cost of the closing transactions and the Portfolio's basis in the contract. The Portfolios enter into futures contracts only on exchanges or a board of trade. The exchange or board of trade acts as the counterparty to each futures transaction; therefore, a Portfolio's credit risk is limited to failure of the exchange or board of trade.

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December 31, 2022

During the year ended December 31, 2022, certain Portfolios held forward foreign currency contracts to either gain exposure to certain currencies or enter into an economic hedge against changes in the values of securities held in the Portfolio that do not qualify for hedge accounting under Accounting Standards Codification ("ASC") 815. The Statement of Operations for each Portfolio reflects realized gains or losses, if any, in forward currency transactions and change in unrealized gains or losses in forward foreign currency transactions. Further information on the impact of these positions on the Portfolios' financial statements can be found in the Statement of Operations and Portfolio of Investments for each Portfolio.

The Portfolios may be exposed to foreign currency risks associated with Portfolio investments. Certain Portfolios may purchase foreign currency on a spot (or cash) basis. In addition, certain Portfolios enter into contracts to purchase or sell foreign currencies at a future date ("forward foreign currency contracts"). A forward foreign currency contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. Daily fluctuations in the value of such contracts are recognized as unrealized appreciation or depreciation by "marking-to-market." The gain or loss arising from the difference between the original contracts and the closing of such contracts is included in realized gains or losses from forward foreign currency transactions in the Statements of Operations of the Portfolios. The Portfolios may engage in these forward foreign currency contracts to protect against uncertainty in the level of future rates in connection with the purchase and sale of Portfolio securities ("transaction hedging") and to protect the value of specific portfolio positions ("position hedging"). The Portfolios also buy forward foreign currency contracts to gain exposure to currencies.

Swap Agreements:

The EQ/Core Plus Bond Portfolio may use interest rate swaps which involve the exchange between two parties of payments calculated by reference to specified interest rates (e.g., an exchange of floating rate payments for fixed rate payments). The purchase of an interest rate cap entitles the purchaser, to the extent that a specified index exceeds a predetermined interest rate, to receive payments of interest on a notional principal amount from the party selling such interest rate cap. The purchase of an interest rate floor entitles the purchaser, to the extent that a specified index falls below a predetermined interest rate, to receive payments of interest on a notional principal amount from the party selling such interest rate floor. Caps and floors may be less liquid than swaps. In addition, the value of interest rate transactions will fluctuate based on changes in interest rates.

The EQ/Core Plus Bond Portfolio may use inflation-linked swaps to provide inflation protection within it's portfolio. These are agreements between counterparties to exchange interest payments based on interest rates over the life of the swap. One cash flow stream will typically be a floating rate payment based upon the Consumer Price Index while the other is a pre-determined fixed interest rate. The use of swaps exposes the Portfolio to interest rate risk.

Changes in market value, if any, are reflected as a component of net changes in unrealized appreciation/(depreciation) on the Statements of Operations. Daily changes in valuation of centrally cleared swaps, if any, are recorded as a receivable or payable for the change in value as appropriate ("variation margin") on the Statements of Assets and Liabilities. Over-the-counter ("OTC") swap payments received or made at the beginning of the measurement period are reflected as such on the Statements of Assets and Liabilities and represent premiums paid or received upon entering into the swap agreement to compensate for differences between the stated terms of the swap agreement and prevailing market conditions (credit spreads, currency exchange rates, interest rates, and other relevant factors). These upfront premiums are recorded as realized gains or losses on the Statements of Operations upon termination or maturity of the swap. A liquidation payment received or made at the termination of the swap is recorded as realized gain or loss on the Statements of Operations. Net periodic payments received or paid by the Portfolio are included as part of realized gains or losses on the Statements of Operations.

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December 31, 2022

Forward settling transactions:

Certain Portfolios may make contracts to purchase or sell securities for a fixed price at a future date beyond customary settlement time ("forward settling transactions"). Portfolios may designate the segregation, either on their records or with the Trust's custodian, of cash or other liquid securities in an amount sufficient to meet the purchase price, or may enter into offsetting contracts for the forward sale of other securities they own. These commitments are reported at market value or fair value, as applicable, in the financial statements. Forward settling transaction may be considered securities in themselves and involve a risk of loss if the value of the security to be purchased declines or if the value of the security to be sold increases prior to the settlement date, which is a risk in addition to the risk of decline in the value of the Portfolio's other assets. Where such purchases or sales are made through dealers, a Portfolio relies on the dealer to consummate the sale. The dealer's failure to do so may result in the loss to a Portfolio of an advantageous yield or price. Market risk exists on these commitments to the same extent as if the securities were owned on a settled basis and gains and losses are recorded and reported in the same manner. However, during the commitment period, these investments earn no interest or dividends.

Certain Portfolios may enter into to-be-announced purchase or sale commitments ("TBA transactions"), pursuant to which it agrees to purchase or sell, respectively, mortgage backed securities for a fixed unit price, with payment and delivery at a scheduled future date beyond the customary settlement period for such securities. With TBA transactions, the particular securities to be received or delivered by a Portfolio are not identified at the trade date; however, the securities must meet specified terms, including issuer, rate, and mortgage term, and be within industry-accepted "good delivery" standards. Portfolios may enter into TBA transactions with the intention of taking possession of or relinquishing the underlying securities, may elect to extend the settlement by "rolling" the transaction, and/or may use TBA transactions to gain or reduce interim exposure to underlying securities. Until settlement, the portfolio maintains liquid assets sufficient to settle its commitment to purchase a TBA or, in the case of a sale commitment, the portfolio maintains an entitlement to the security to be sold.

Master netting arrangements and collateral:

International Swaps and Derivatives Association, Inc. Master Agreements ("ISDA Master Agreements") govern bilateral OTC derivative transactions entered into by the Sub-Advisers on behalf of the Portfolios with select counterparties. ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral posting and events of default or termination. Events of termination include conditions that may entitle counterparties to elect to terminate early and cause settlement of all outstanding transactions under the applicable ISDA Master Agreement. Any election to terminate early could be material to the financial statements. In limited circumstances, the ISDA Master Agreement may contain additional provisions that add counterparty protection beyond coverage of existing daily exposure if the counterparty has a decline in credit quality below a predefined level. These amounts, if any, may be segregated with a third- party custodian. The market value of OTC financial derivative instruments, collateral received or pledged, and net exposure by counterparty as of period end are disclosed in the Portfolio of Investments.

Master Securities Forward Transaction Agreements ("Master Forward Agreements") govern certain forward settling transactions, such as TBA transactions, delayed-delivery or sale-buybacks by and between the Sub-Advisers on behalf of the Portfolios and select counterparties. The Master Forward Agreements maintain provisions for, among other things, transaction initiation and confirmation, payment and transfer, events of default, termination, and maintenance of collateral. The market value of forward settling transactions, collateral pledged and/or received, and the net exposure by counterparty as of period end is disclosed in the Portfolio of Investments.

ISDA Master Agreements and Master Forward Agreements are intended to reduce the counterparty risk associated with relevant transactions by specifying credit protection mechanisms

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December 31, 2022

and providing standardization that is intended to improve legal certainty. Under most ISDA Master Agreements and Master Forward Agreements, collateral is routinely pledged if the total net exposure to certain transactions (net of existing collateral already in place) governed under the relevant master agreement with a counterparty in a given account exceeds a specified threshold, which typically ranges from zero to $250,000 (on a per counterparty basis) depending on the counterparty and the type of master agreement.

Collateral on OTC derivatives, forward settling transactions and centrally cleared derivatives may be in the form of cash or debt securities issued by the U.S. government or related agencies or foreign governments. Cash pledged as collateral by a Portfolio is reflected as cash held as collateral at the broker in the accompanying financial statements and generally is restricted from withdrawal by the Portfolio; securities pledged as collateral by a Portfolio are so noted in the accompanying Portfolio of Investments; both remain in the Portfolio's assets. Securities received as collateral by counterparties are not included in the Portfolio's assets because the Portfolio does not obtain effective control over those securities. The obligation to return cash collateral received from counterparties is included as a liability in the accompanying financial statements. Collateral posted or received by the Portfolio may be held in a segregated account at the respective counterparty or Portfolio's custodian.

In connection with the adoption of Rule 18f-4 under the 1940 Act (the "Derivatives Rule" or "Rule 18f-4"), the SEC and its staff rescinded and withdrew applicable guidance and relief regarding the segregation of assets to cover derivatives transactions, effective as of August 19, 2022. On August 19, 2022, the Trust adopted and implemented a Derivatives Risk Management Program pursuant to Rule 18f-4 and Policies and Procedures for Limited Derivatives Users, in compliance with the Derivatives Rule. Accordingly, as of August 19, 2022, the Portfolios no longer segregate assets to cover derivatives transactions, as previously required and discussed above.

Market, Credit and Other Risks:

A Portfolio's investments in financial instruments expose the Portfolio to various risks such as, but not limited to, market, interest rate, foreign currency, foreign securities, equity, and credit risks.

The market values of a Portfolio's investments may decline due to factors that are specifically related to a particular company or issuer, as well as general market conditions, such as real or perceived adverse economic or political conditions, changes in the general outlook for corporate earnings, inflation rates and/or investor expectations concerning such rates, changes in interest rates or currency rates, or adverse investor sentiment generally. The market values of a Portfolio's investments may also decline due to factors that affect a particular industry or industries, such as labor shortages or increased production costs and competitive conditions within an industry. During a general downturn in the securities markets, multiple asset classes may decline in value simultaneously. Even when markets perform well, there is no assurance that the investments held by a Portfolio will increase in value along with the broader market. World markets, or those in a particular region, may all react in similar fashion to important economic, political or other developments. Events such as environmental and natural disasters or other catastrophes, public health crises (such as the COVID-19 pandemic, which has caused significant global market disruptions), social unrest, and cybersecurity incidents, and governments' reactions (or failure to react) to such events, could cause uncertainty in the markets and may adversely affect the performance of the global economy. Geopolitical and other events, including terrorism, tensions, war or other open conflicts between nations, or political or economic dysfunction within some nations that are global economic powers or major producers of oil, may lead to overall instability in world economies and markets generally and have led, and may in the future lead, to increased market volatility and may have adverse long-term effects. Impacts from climate change may include significant risks to global financial assets and economic growth.

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December 31, 2022

Interest rate risk is the risk that fixed income securities will decline in value because of changes in interest rates. When nominal interest rates decline, the value of certain fixed-income securities held by a Portfolio generally rises. Conversely, when nominal interest rates rise, the value of certain fixed income securities held by a Portfolio generally decreases. A nominal interest rate can be described as the sum of a real interest rate and an expected inflation rate. Interest rate changes can be sudden and unpredictable, and a Portfolio may lose money if these changes are not anticipated by Portfolio management. A Portfolio may not be able to hedge against changes in interest rates or may choose not to do so for cost or other reasons. In addition, any hedges may not work as intended. Fixed income securities with longer durations tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter durations. Duration is useful primarily as a measure of the sensitivity of a security's market price to interest rate (i.e., yield) movements.

Interest rates had been unusually low in recent years in the United States and abroad, but the interest rate environment changed dramatically in 2022 as interest rates moved significantly higher. Aggressive stimulus measures in 2020 and 2021, rising demand for goods and services, and supply chain disruptions contributed to a surge of inflation, and higher inflation often means higher interest rates. Due to concerns regarding high inflation in many sectors of the U.S. and global economy, the U.S. and many foreign governments and monetary authorities have raised interest rates and implemented other policy initiatives that are intended to rein in inflation, and they are currently expected to continue to raise rates. Inflation risk is the uncertainty over the future real value (after inflation) of an investment. A Portfolio's investments may not keep pace with inflation, and the value of an investment in a Portfolio may be eroded over time by inflation. Rising interest rates may present a particularly greater risk than has historically been the case due to the effect of government fiscal and monetary policy initiatives and potential market reaction to those initiatives. As such, fixed-income and related markets may continue to experience heightened levels of interest rate volatility.

Many debt securities, derivatives and other financial instruments utilize the London Interbank Offered Rate ("LIBOR") as the reference or benchmark rate for variable interest rate calculations. The publication of most LIBOR settings was discontinued at the end of 2021, except for the overnight, 1-month, 3-month, 6-month and 12-month U.S. dollar-denominated LIBOR settings, which will continue through June 30, 2023. The Secured Overnight Financing Rate ("SOFR") has been selected by a committee established by the Board of Governors of the Federal Reserve System and the Federal Reserve Bank of New York to replace LIBOR as a reference or benchmark rate in the United States. Other countries have undertaken similar initiatives to identify replacement reference or benchmark rates in their respective markets. However, there are obstacles to converting certain existing investments and transactions to a new reference or benchmark rate, as well as risks associated with using a new reference or benchmark rate with respect to new investments and transactions. The transition process, or a failure to transition properly, might lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates, a reduction in the values of some LIBOR-based investments, and reduced effectiveness of certain hedging strategies, which may adversely affect a Portfolio's performance or net asset value. In addition, the alternative reference or benchmark rate may be an ineffective substitute resulting in prolonged adverse market conditions for a Portfolio.

If a Portfolio invests directly in foreign currencies or in securities that trade in, and receive revenues in, foreign currencies, or in financial derivatives that provide exposure to foreign currencies, it will be subject to the risk that those currencies will decline in value relative to the base currency of the Portfolio, or, in the case of hedging positions, that the Portfolio's base currency will decline in value relative to the currency being hedged. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates, intervention (or the failure to intervene) by U.S. or foreign governments, central banks or supranational entities such as the International Monetary Fund, or by the imposition of currency controls or other political developments in the United States or abroad. As a result, a Portfolio's investments in foreign currency denominated securities may reduce the Portfolio's returns. The

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December 31, 2022

Portfolios are subject to off-balance sheet risk to the extent of the value of the contracts for purchase of foreign currency and in an unlimited amount for sales of foreign currency.

Foreign (non-U.S.) securities in this report are classified by the country of risk of a holding. Investments in foreign securities, including depositary receipts, involve risks not associated with investment in U.S. securities. Foreign markets may be less liquid, more volatile and subject to less government supervision and regulation than U.S. markets. Differences between U.S. and foreign legal, political and economic systems, regulatory regimes and market practices also may impact security values, and it may take more time to clear and settle trades involving foreign securities. In addition, foreign operations or holding can involve risks relating to conditions in foreign countries.

Russia's military invasion of Ukraine in February 2022, the resulting responses by the United States and other countries, and the potential for wider conflict have had, and could continue to have, severe adverse effects on regional and global economies and could further increase volatility and uncertainty in the financial markets. The United States and other countries have imposed broad- ranging economic sanctions on Russia and certain Russian individuals, banking entities and corporations as a response to its invasion of Ukraine. The United States and other countries have also imposed economic sanctions on Belarus and may impose sanctions on other countries that provide military or economic support to Russia. These sanctions, as well as any other economic consequences related to the invasion, such as additional sanctions, boycotts or changes in consumer or purchaser preferences or cyberattacks on governments, companies or individuals, may further decrease the value and liquidity of certain Russian securities and securities of issuers in other countries that are subject to economic sanctions related to the invasion. To the extent that a Portfolio has exposure to Russian investments or investments in countries affected by the invasion, the Portfolio's ability to price, buy, sell, receive or deliver such investments may be impaired. In addition, any exposure that a Portfolio may have to counterparties in Russia or in countries affected by the invasion could negatively impact a Portfolio's investments. The extent and duration of military actions and the repercussions of such actions (including any retaliatory actions or countermeasures that may be taken by those subject to sanctions) are impossible to predict. These events have resulted in, and could continue to result in, significant market disruptions, including in certain industries or sectors such as the oil and natural gas markets, and may further strain global supply chains and negatively affect inflation and global growth. These and any related events could significantly impact a Portfolio's performance and the value of an investment in a Portfolio beyond any direct exposure a Portfolio may have to Russian issuers or issuers in other countries affected by the invasion.

Forward settling transactions and forward foreign currency contracts involve elements of both market and credit risk in excess of the amounts reflected in the Statements of Assets and Liabilities. They are executed directly with the counterparty and not through an exchange and can be terminated only by agreement of both parties to such contracts. With respect to such transactions there is no daily margin settlement. There is also the risk that the security will not be issued or that the other party to the transaction will not meet its obligations. If this occurs, a Portfolio may lose both the investment opportunity for its assets if set aside to pay for the security and any gain in the security. The use of forward settling transaction may result in market risk to the Portfolios that is greater than if the Portfolios had engaged solely in transactions that settle in the customary time.

Should interest rates or indices move unexpectedly, the Portfolio may not achieve the anticipated benefits of the futures contracts and may incur a loss. The use of futures contracts involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the underlying hedged assets. Use of long futures contracts subjects the Portfolios to risk of loss in excess of the amounts shown on the Statements of Assets and Liabilities, up to the notional value of the futures contracts. Use of short futures contracts subjects the Portfolios to unlimited risk of loss.

Equity securities and equity related investments generally have greater market price volatility than fixed income securities, although under certain market conditions fixed income securities may have comparable or greater price volatility. In addition, common stock prices may be particularly sensitive to rising interest rates, which increase borrowing costs and the costs of capital.

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December 31, 2022

A Portfolio will be exposed to credit risk to parties with whom it trades and will also bear the risk of settlement default. A Portfolio is subject to the risk that the issuer or guarantor of a fixed income security, or the counterparty to a transaction, is unable or unwilling, or is perceived as unable or unwilling, to make timely interest or principal payments or otherwise honor its obligations, which may cause the Portfolio's holding to lose value. The downgrade of a security's credit rating may decrease its value. Lower credit quality also may lead to greater volatility in the price of a security and may negatively affect a security's liquidity. The credit quality of a security can deteriorate suddenly and rapidly.

Certain Portfolios may invest in below investment grade high-yield securities (commonly known as "junk bonds"). These securities are considered to be high risk investments. Securities rated below investment grade are speculative in nature, involve greater risk of default by the issuing entity and may be subject to greater market fluctuations than higher rated fixed income securities because such securities are generally unsecured and subordinated to other creditors' claims. The retail secondary market for these "junk bonds" may be less liquid than that of higher rated securities and adverse economic conditions could make it difficult to sell certain securities or could result in lower prices than those used in calculating the Portfolio's NAV.

Because certain Portfolios invest in affiliated mutual funds, unaffiliated investment companies or ETFs, the Portfolios indirectly pay a portion of the expenses incurred by the underlying funds and ETFs. As a result, the cost of investing in the Portfolios may be higher than the cost of investing in a Portfolio that invests directly in individual securities and financial instruments. The Portfolios are also subject to certain risks related to the underlying funds' and ETFs' investments in securities and financial instruments (such as fixed income securities, including high yield, asset-backed and mortgage-related securities, equity securities, foreign and emerging markets securities, commodities and real estate securities) and the ability of the Portfolio to meet its investment objective will directly depend on the ability of the underlying fund or ETF to meet its investment objective. With respect to the Portfolio's investments in ETFs, there is also the risk that an ETF's performance may not match that of the relevant index. It is also possible that an active trading market for an ETF may not develop or be maintained, in which case the liquidity and value of the Portfolio's investments in the ETF could be substantially and adversely affected. The extent to which the investment performance and risks associated with the Portfolio correlate to those of a particular underlying fund or ETF will depend upon the extent to which the Portfolio's assets are allocated from time to time for investment in the underlying fund or ETF, which will vary.

Offsetting Assets and Liabilities:

Certain Portfolios may be subject to various netting arrangements with select counterparties ("Master Agreements"). Master Agreements govern the terms of certain transactions, and are intended to reduce the counterparty risk associated with relevant transactions by specifying credit protection mechanisms and providing standardization that is intended to improve legal certainty. As the Master Agreements are specific to unique operations of different asset types; they allow a Portfolio to close out and net its total exposure to counterparty in the event of a default with respect to all the transactions governed under a single Master Agreement with a counterparty. For financial reporting purposes the Statements of Assets and Liabilities generally show derivative assets and liabilities on a gross basis, which reflects the full risks and exposures prior to netting.

Note 2 Management of the Trust

The Trust, on behalf of each Portfolio, has entered into an investment management agreement (the "Management Agreement") with EIM, which provides that the Adviser is responsible for: (i) providing a continuous investment program for the Portfolios; (ii) monitoring the implementation of each Portfolio's investment program; (iii) assessing each Portfolio's investment objectives and policies, composition, investment style and investment process; (iv) effecting transactions for each Portfolio and selecting brokers or dealers to execute such transactions; (v) developing and

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December 31, 2022

evaluating strategic initiatives with respect to the Portfolios; (vi) making recommendations to the Board regarding the investment programs of the Portfolios, including any changes to a Portfolio's investment objectives and policies; (vii) coordinating and/or implementing strategic initiatives approved by the Board; and (viii) preparing and providing reports to the Board on the impact of such strategic initiatives. For the year ended December 31, 2022, for its services under the Management Agreement, the Adviser was entitled to receive an annual fee as a percentage of average daily net assets, for each of the following Portfolios, calculated daily and payable monthly as follows:

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| | |
|:---|:---|
| **Portfolios:** | **Management Fee** |
|  Target 2015 Allocation | 0.100% of average daily net assets |
|  Target 2025 Allocation | 0.100% of average daily net assets |
|  Target 2035 Allocation | 0.100% of average daily net assets |
|  Target 2045 Allocation | 0.100% of average daily net assets |
|  Target 2055 Allocation | 0.100% of average daily net assets |

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---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** |
| **Portfolios:** | **First<br>$1 Billion** | **Next<br>$1 Billion** | **Next<br>$3 Billion** | **Next<br>$4 Billion** | **Next<br>$3 Billion** | **Thereafter** |
|  EQ/Conservative Allocation | 0.1000% | 0.0925% | 0.0900% | 0.0875% | 0.0825% | 0.0800% |
|  EQ/Conservative-Plus Allocation | 0.1000 | 0.0925 | 0.0900 | 0.0875 | 0.0825 | 0.0800 |
|  EQ/Moderate Allocation | 0.1000 | 0.0925 | 0.0900 | 0.0875 | 0.0825 | 0.0800 |
|  EQ/Moderate-Plus Allocation | 0.1000 | 0.0925 | 0.0900 | 0.0875 | 0.0825 | 0.0800 |
|  EQ/Aggressive Allocation | 0.1000 | 0.0925 | 0.0900 | 0.0875 | 0.0825 | 0.0800 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** |
| **Portfolio:** | **First<br>$750 Million** | **Next<br>$750 Million** | **Next<br>$1 Billion** | **Next<br>$2.5 Billion** | **Thereafter** |
|  EQ/Core Plus Bond | 0.6000% | 0.5800% | 0.5600% | 0.5400% | 0.5300% |

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Prior to October 1, 2022 the following Portfolio's management fees were as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** | **(as a percentage of average daily net assets)** |
| **Portfolios:** | **First<br>$2 Billion** | **Next<br>$2 Billion** | **Next<br>$2 Billion** | **Next<br>$3 Billion** | **Next<br>$3 Billion** | **Thereafter** |
|  EQ/Conservative Allocation | 0.1000% | 0.0925% | 0.0900% | 0.0875% | 0.0850% | 0.0825% |
|  EQ/Conservative-Plus Allocation | 0.1000 | 0.0925 | 0.0900 | 0.0875 | 0.0850 | 0.0825 |
|  EQ/Moderate Allocation | 0.1000 | 0.0925 | 0.0900 | 0.0875 | 0.0850 | 0.0825 |
|  EQ/Moderate-Plus Allocation | 0.1000 | 0.0925 | 0.0900 | 0.0875 | 0.0850 | 0.0825 |
|  EQ/Aggressive Allocation | 0.1000 | 0.0925 | 0.0900 | 0.0875 | 0.0850 | 0.0825 |

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With respect to the EQ/Core Plus Bond Portfolio, the Adviser has entered into an investment advisory agreement with each of the Sub-Advisers ("Sub-Advisory Agreements"). Each of the Sub- Advisory Agreements obligates the Sub-Advisers to: (i) continuously furnish investment programs for the Portfolio; (ii) place all orders for the purchase and sale of investments for the Portfolio with brokers or dealers selected by the Adviser or the respective Sub-Advisers; and (iii) perform certain limited related administrative functions in connection therewith. The Adviser pays the expenses of investment sub-advisory services provided to the Portfolio, including the fees of the Sub-Advisers.

Indemnification of Trustees and Officers

Under the Trust's organizational documents, the Trust's officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts with vendors and others that may provide

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December 31, 2022

for general indemnifications. A Portfolio's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Portfolio. However, based on experience, the Trust and management expect the risk of loss to be remote.

Compensation of Officers

Each officer of the Trust is an employee of Equitable Financial, EIM and/or Equitable Distributors, LLC ("Equitable Distributors" or the "Distributor"). No officer of the Trust, other than the Chief Compliance Officer, receives compensation paid by the Trust. During the year ended December 31, 2022, the three trusts in the complex reimbursed EIM for $290,000 of the Chief Compliance Officer's compensation, including $37,842 reimbursed by the Trust.

Note 3 Administrative Fees

Pursuant to an administrative services agreement, the Administrator provides the Trust with necessary administrative, fund accounting, and compliance services. In addition, the Administrator makes available the office space, equipment, personnel and facilities required to provide such administrative services to the Trust. The Administrator may carry out its responsibilities either directly or through sub-contracting with third party providers. For these services, each EQ Allocation Portfolio, Target Allocation Portfolio and EQ/Core Plus Bond Portfolio pays the Administrator, its proportionate share of an asset-based administration fee, subject to a minimum annual fee of $32,500 per Portfolio. The asset-based administration fee is equal to an annual rate of 0.140% on the first $60 billion of the aggregate average daily net assets of the EQ Allocation Portfolios, Target Allocation Portfolios, EQ/Core Plus Bond Portfolio and certain portfolios of EQAT; 0.110% on the next $20 billion; 0.0875% on the next $20 billion; 0.0775% on the next $20 billion; 0.0750% on the next $20 billion; 0.0725% thereafter.

Pursuant to a sub-administration arrangement with the Administrator, the Sub-Administrator assists the administrator in providing the Trust with certain administrative services, including monitoring of portfolio compliance and portfolio accounting support services, subject to the supervision of the Administrator.

Note 4 Custody Fees

The Trust has entered into a custody agreement (the "Custody Agreement") with JPMorgan Chase Bank, N.A. (in this capacity, the "Custodian"). The Custody Agreement provides for an annual fee based on the amount of assets under custody plus transaction charges. The Custodian serves as custodian of the Trust's Portfolio securities and other assets. Under the terms of the Custody Agreement between the Trust and the Custodian, the Custodian maintains and deposits in each Portfolio's account, cash, securities and other assets of the Portfolios. The Custodian is also required, upon the order of the Trust, to deliver securities held by the Custodian, and to make payments for securities purchased by the Trust. The Custodian has also entered into sub-custodian agreements with a number of foreign banks and clearing agencies, pursuant to which Portfolio securities purchased outside the United States are maintained in the custody of these entities. At period end, certain of the Portfolios maintained a significant cash balance with the Custodian or its affiliates. These balances are presented as cash on each Portfolio's Statement of Assets and Liabilities.

Note 5 Distribution Plans

The Trust, on behalf of each Portfolio, has entered into distribution agreements with Equitable Distributors, LLC, a wholly-owned subsidiary of Equitable Financial and an affiliate of EIM, pursuant to which the Distributor serves as the principal underwriter of the Class A, Class B and Class K shares of the Trust. The Trust has adopted in the manner prescribed under Rule 12b-1 under the 1940 Act a plan of distribution pertaining to each of the Class A and Class B shares of the Trust ("Distribution Plans"). The Distribution Plans provide that the Distributor will be entitled to receive a maximum distribution fee at the annual rate of 0.25% of the average daily net assets attributable to each of the Trust's Class A and Class B shares for which it provides service.

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**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

Note 6 Expense Limitation

In the interest of limiting the expenses of certain Portfolios (unless the Board consents to an earlier revision or termination of this arrangement), the Adviser and the Administrator have entered into an expense limitation agreement with the Trust through April 30, 2024 ("Expense Limitation Agreement"). Pursuant to that Expense Limitation Agreement, the Adviser has agreed to make payments or waive management, administrative and other fees to limit the expenses of the Portfolios so that the annual operating expenses as a percentage of daily net assets for each Portfolio, inclusive of fees and expenses of other investment companies in which a Portfolio invests (but exclusive of interest, taxes, brokerage commissions, dividend and interest expenses on securities sold short, other expenditures that are capitalized in accordance with generally accepted accounting principles and other extraordinary expenses not incurred in the ordinary course of each Portfolio's business), do not exceed the following annualized rates:

---

| | | | |
|:---|:---|:---|:---|
|  | **Maximum Annual Operating Expense Limit** | **Maximum Annual Operating Expense Limit** | **Maximum Annual Operating Expense Limit** |
| **Portfolios:** | **Class A<sup>+</sup>** | **Class B<sup>+</sup>** | **Class K** |
|  EQ/Conservative Allocation | 1.00% | 1.00% | 0.75% |
|  EQ/Conservative-Plus Allocation | 1.10 | 1.10 | 0.85 |
|  EQ/Moderate Allocation | 1.15 | 1.15 | 0.90 |
|  EQ/Moderate-Plus Allocation | 1.20 | 1.20 | 0.95 |
|  EQ/Aggressive Allocation | 1.25 | 1.25 | 1.00 |
|  EQ/Core Plus Bond | 0.93 | 0.93 | 0.68 |
|  Target 2015 Allocation | N/A | 1.10 | 0.85 |
|  Target 2025 Allocation | N/A | 1.10 | 0.85 |
|  Target 2035 Allocation | N/A | 1.10 | 0.85 |
|  Target 2045 Allocation | N/A | 1.10 | 0.85 |
|  Target 2055 Allocation | N/A | 1.10 | 0.85 |

---

---

| | |
|:---|:---|
| + | Includes amounts payable pursuant to Rule 12b-1.  |

---

N/A The shares of the Portfolio class are not currently offered for sale.

Prior to November 11, 2022 the following Portfolio's expense limitations were as follows:

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| | | | |
|:---|:---|:---|:---|
|  | **Maximum Annual Operating Expense Limit** | **Maximum Annual Operating Expense Limit** | **Maximum Annual Operating Expense Limit** |
| **Portfolios:** | **Class A<sup>+</sup>** | **Class B<sup>+</sup>** | **Class K** |
|  EQ/Core Plus Bond | 0.95 | 0.95 | 0.70 |

---

---

| | |
|:---|:---|
| + | Includes amounts payable pursuant to Rule 12b-1.  |

---

N/A The shares of the Portfolio class are not currently offered for sale.

The Adviser first waives its management fees, then waives its administration fees, and then reimburses a Portfolio's expenses out of its own resources. The Adviser may be reimbursed the amount of any such payments or waivers in the future provided that the payments or waivers are reimbursed within three years of the payments or waivers being recorded, provided such Portfolio has reached a sufficient asset size to permit such reimbursement to be made without causing the total annual expense ratio of such Portfolio to exceed the percentage limits mentioned above for the respective period. Consequently, no reimbursement by a Portfolio will be made unless the Portfolio's total annual expense ratio is less than the respective percentages stated above for the respective period. Any reimbursement, called Recoupment fees on the Statement of Operations, will be based on the earliest fees waived or assumed by the Adviser. During the year ended December 31, 2022, the following Portfolio incurred Recoupment Fees:

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| | |
|:---|:---|
| **Portfolios:** | **Recoupment**<br>**Fees** |
|  Target 2055 | $211 |

---

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**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

At December 31, 2022, under the Expense Limitation Agreement, the amount eligible for potential recoupment from each Portfolio, and its respective expiration year, is as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolios:** | **2023** | **2024** | **2025** | **Total Eligible<br>For<br>Recoupment** |
|  EQ/Conservative Allocation | $294979 | $282557 | $305671 | $883207 |
|  EQ/Core Plus Bond | 282288 | 454052 | 650219 | 1386559 |
|  Target 2015 Allocation | 55324 | 94567 | 108007 | 257898 |
|  Target 2025 Allocation |  |  | 7829 | 7829 |
|  Target 2055 Allocation | 36282 | 18386 | 21368 | 76036 |

---

---

| | |
|:---|:---|
| Note 7 | Percentage of Ownership by Affiliates  |

---

Shares of affiliated underlying investment companies may be held by the Portfolios. The following tables represent the percentage of ownership that each Portfolio has in each respective affiliated underlying investment company's net assets as of December 31, 2022.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolios:** | **EQ/<br>Conservative<br>Allocation** | **EQ/<br>Conservative-<br>Plus<br>Allocation** | **EQ/<br>Moderate<br>Allocation** | **EQ/<br>Moderate-<br>Plus<br>Allocation** | **EQ/<br>Aggressive<br>Allocation** |
|  1290 VT DoubleLine Opportunistic Bond Portfolio | 8.80% | 7.55% | 38.44% | 28.13% | 3.85% |
|  1290 VT Equity Income Portfolio | 0.82 | 1.74 | 13.22 | 26.39 | 14.50 |
|  1290 VT GAMCO Small Company Value Portfolio | 0.04 | 0.14 | 1.70 | 3.74 | 2.35 |
|  1290 VT High Yield Bond Portfolio | 3.12 | 2.65 | 13.63 | 9.73 | 1.35 |
|  1290 VT Micro Cap Portfolio | 1.24 | 2.89 | 24.71 | 45.33 | 20.48 |
|  1290 VT Small Cap Value Portfolio |  | 1.25 | 11.05 | 20.01 | 9.60 |
|  ATM Large Cap Managed Volatility Portfolio | 1.95 | 3.71 | 24.87 | 44.05 | 25.42 |
|  ATM Mid Cap Managed Volatility Portfolio | 5.24 | 8.23 | 32.22 | 36.09 | 18.22 |
|  ATM Small Cap Managed Volatility Portfolio | 0.57 | 2.37 | 23.29 | 49.23 | 24.54 |
|  ATM International Managed Volatility Portfolio | 0.96 | 2.86 | 27.60 | 44.66 | 23.91 |
|  EQ/AB Small Cap Growth Portfolio | 0.20 | 0.66 | 6.73 | 12.90 | 5.25 |
|  EQ/American Century Mid Cap Value Portfolio | 0.58 | 0.63 | 3.79 | 4.13 | 2.09 |
|  EQ/ClearBridge Select Equity Managed Volatility Portfolio | 1.40 | 2.48 | 16.73 | 26.46 | 16.11 |
|  EQ/Core Bond Index Portfolio | 2.51 | 1.81 | 8.87 | 6.16 | 0.70 |
|  EQ/Franklin Small Cap Value Managed Volatility Portfolio |  | 1.11 | 13.13 | 28.23 | 15.00 |
|  EQ/Global Equity Managed Volatility Portfolio | 0.27 | 0.80 | 7.68 | 12.61 | 7.33 |
|  EQ/Intermediate Government Bond Portfolio | 2.47 | 1.88 | 9.12 | 6.38 | 0.73 |
|  EQ/International Core Managed Volatility Portfolio | 0.24 | 0.77 | 7.46 | 11.70 | 5.69 |
|  EQ/International Equity Index Portfolio | 0.04 | 0.10 | 0.47 | 0.46 | 0.46 |
|  EQ/International Value Managed Volatility Portfolio | 0.43 | 1.27 | 12.88 | 19.68 | 9.79 |
|  EQ/Janus Enterprise Portfolio | 0.48 | 0.82 | 2.92 | 3.14 | 1.26 |
|  EQ/JPMorgan Value Opportunities Portfolio | 0.45 | 0.94 | 7.12 | 13.04 | 7.18 |
|  EQ/Large Cap Core Managed Volatility Portfolio | 0.65 | 1.02 | 6.96 | 13.38 | 8.01 |
|  EQ/Large Cap Growth Index Portfolio | 0.08 | 0.10 | 0.41 | 0.46 | 0.29 |
|  EQ/Large Cap Value Managed Volatility Portfolio | 0.15 | 0.32 | 2.40 | 4.76 | 2.79 |

---

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**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Continued)

December 31, 2022

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolios:** | **EQ/<br>Conservative<br>Allocation** | **EQ/<br>Conservative-<br>Plus<br>Allocation** | **EQ/<br>Moderate<br>Allocation** | **EQ/<br>Moderate-<br>Plus<br>Allocation** | **EQ/<br>Aggressive<br>Allocation** |
|  EQ/Long-Term Bond Portfolio | 2.62% | 3.23% | 19.75% | 16.22% | 2.23% |
|  EQ/Loomis Sayles Growth Portfolio | 0.84 | 1.41 | 9.66 | 15.24 | 7.88 |
|  EQ/MFS International Growth Portfolio | 0.39 | 1.18 | 12.01 | 19.70 | 10.84 |
|  EQ/Morgan Stanley Small Cap Growth Portfolio | 0.53 | 1.69 | 16.89 | 31.69 | 13.89 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 8.90 | 6.70 | 32.26 | 23.84 | 3.04 |
|  EQ/Quality Bond PLUS Portfolio | 3.25 | 2.87 | 14.71 | 10.82 | 1.31 |
|  EQ/T. Rowe Price Growth Stock Portfolio | 0.20 | 0.39 | 2.60 | 3.69 | 1.59 |
|  EQ/Value Equity Portfolio | 0.27 | 0.60 | 4.55 | 9.07 | 5.17 |
|  Multimanager Core Bond Portfolio | 6.68 | 5.80 | 30.26 | 22.17 | 2.76 |
|  1290 Diversified Bond Fund | 4.22 | 3.65 | 18.53 | 13.50 | 1.67 |
|  EQ/Core Plus Bond Portfolio | 5.07 | 4.43 | 22.50 | 15.35 | 1.81 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolios:** | **Target**<br>**2015<br>Allocation** | **Target**<br>**2025<br>Allocation** | **Target**<br>**2035<br>Allocation** | **Target**<br>**2045<br>Allocation** | **Target**<br>**2055<br>Allocation** |
|  1290 VT High Yield Bond Portfolio | 1.41% | 4.38% | 3.94% | 2.25% | 0.44% |
|  EQ/American Century Mid Cap Value Portfolio | 0.12 | 0.79 | 0.62 | 0.71 | 0.21 |
|  EQ/Core Bond Index Portfolio | 0.05 | 0.15 | 0.12 | 0.06 | 0.01 |
|  EQ/Emerging Markets Equity PLUS Portfolio | 1.10 | 7.32 | 11.71 | 11.34 | 5.17 |
|  EQ/Equity 500 Index Portfolio | 0.05 | 0.45 | 0.87 | 0.91 | 0.41 |
|  EQ/International Equity Index Portfolio | 0.11 | 0.97 | 1.58 | 1.60 | 0.71 |
|  EQ/Janus Enterprise Portfolio | 0.10 | 0.43 | 0.42 | 0.29 | 0.07 |
|  EQ/Long-Term Bond Portfolio | 0.11 | 0.37 | 0.33 | 0.18 | 0.02 |
|  EQ/MFS International Growth Portfolio | 0.07 | 0.59 | 1.03 | 1.00 | 0.57 |
|  EQ/PIMCO Ultra Short Bond Portfolio | 0.24 | 0.71 | 0.54 | 0.29 | 0.02 |
|  EQ/Quality Bond PLUS Portfolio | 0.23 | 0.62 | 0.50 | 0.26 | 0.02 |
|  EQ/Small Company Index Portfolio | 0.04 | 0.69 | 1.45 | 1.52 | 0.76 |
|  EQ/Value Equity Portfolio | 0.04 | 0.19 | 0.31 | 0.35 | 0.22 |
|  Multimanager Aggressive Equity Portfolio | 0.04 | 0.18 | 0.20 | 0.20 | 0.16 |
|  1290 Diversified Bond Fund | 0.57 | 1.34 | 0.88 | 0.42 | 0.05 |
|  EQ/Core Plus Bond Portfolio | 0.57 | 1.51 | 1.11 | 0.56 | 0.06 |

---

---

| | |
|:---|:---|
| **Portfolio:** | **EQ/All<br>Asset<br>Growth<br>Allocation** |
|  EQ/Core Plus Bond Portfolio | 3.04% |

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Note 8 Reorganization and Restructuring Transactions

The following transactions occurred during 2022:

After the close of business on November 11, 2022, EQ/Core Plus Bond Portfolio acquired the net assets of the EQ/Franklin Strategic Income Portfolio, a series of the EQ Advisors Trust, pursuant to a Plan of Reorganization and Termination as approved by contractholders on September 28, 2022. For U.S. GAAP purposes, this transaction was treated as a merger. The purpose of this merger was to combine funds managed by EIM with similar investment objectives. The reorganization was accomplished by a taxable exchange resulting in the EQ/Core Plus Bond Portfolio issuing 24,388,475 Class B shares (valued at $83,049,176) in exchange for 9,520,210 Class IB shares EQ/Franklin Strategic Income Portfolio. Cash in the amount of $83,118,685 in addition to securities held by EQ/Franklin Strategic Income Portfolio which had a fair value of $1,753 at November 11, 2022, were the principal

assets acquired by EQ/Core Plus Bond Portfolio. For U.S. GAAP purposes, assets received and shares

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**EQ PREMIER VIP TRUST** 

NOTES TO FINANCIAL STATEMENTS (Concluded)

December 31, 2022

issued by EQ/Core Plus Bond Portfolio were recorded at fair value. EQ/Franklin Strategic Income Portfolio's net assets at the merger date of $83,049,176, were combined with those of EQ/Core Plus Bond Portfolio. Assuming the acquisition had been completed January 1, 2022, the beginning of the annual reporting period of EQ/Core Plus Bond Portfolio, pro forma results of operations for the year ended December 31, 2022 would have resulted in a net investment income of $22,509,456 and net realized and unrealized loss of $(130,559,058) resulting in a decrease in net assets from operations of $(108,049,602). Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition date, it is not practicable to separate the amounts of revenue and earnings of the EQ/Franklin Strategic Income Portfolio that have been included in EQ/Core Plus Bond Portfolio's Statement of Operations since the merger date. Prior to the combination, the net assets of the EQ/Core Plus Bond Portfolio totaled $628,158,576. Immediately after the combination, the net assets of the EQ/Core Plus Bond Portfolio totaled $711,207,752.

The following transactions occurred during 2021:

After the close of business on June 18, 2021, EQ/Core Plus Bond Portfolio, acquired the net assets of the EQ/Global Bond PLUS Portfolio, a series of the EQ Advisors Trust, pursuant to an Agreement and a Plan of Reorganization and Termination as approved by shareholders on June 4, 2021. For U.S. GAAP purposes, this transaction was treated as a merger. The purpose of this merger was to combine funds managed by EIM with similar investment objectives. The reorganization was accomplished by a tax-free exchange resulting in the EQ/Core Plus Bond Portfolio issuing 2,658,406 Class A shares, 15,733,478 Class B shares, and 47,375,328 Class K shares (valued at $11,241,140, $66,292,858, and $201,256,736, respectively) in exchange for 1,221,838 Class IA shares, 7,222,300 Class IB shares, and 21,701,937 Class K shares, respectively, of EQ/Global Bond PLUS Portfolio. The securities held by EQ/Global Bond PLUS Portfolio, with a fair value of $96,470,737 and identified cost of $93,969,675, and cash in the amount of $182,319,997, at June 18, 2021, were the principal assets acquired by EQ/Core Plus Bond Portfolio. For U.S. GAAP purposes, assets received and shares issued by EQ/Core Plus Bond Portfolio were recorded at fair value; however, the cost basis of the investments from EQ/Global Bond PLUS Portfolio was carried forward to align ongoing reporting of EQ/Core Plus Bond Portfolio's realized and unrealized gains and losses with amounts distributable to contract holders for tax purposes. EQ/Global Bond PLUS Portfolio's net assets at the merger date of $278,790,734, including $2,501,062 of unrealized appreciation, $(2,649,370) of undistributed net investment loss and $349,756 of undistributed net realized loss on investments, were combined with those of EQ/Core Plus Bond Portfolio. Assuming the acquisition had been completed January 1, 2021, the beginning of the annual reporting period of EQ/Core Plus Bond Portfolio, pro forma results of operations for the year ended December 31, 2021 would have resulted in net investment income of $11,132,115 and net realized and unrealized loss of $(22,202,927) resulting in a decrease in net assets from operations of $(11,070,812). Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition date, it is not practicable to separate the amounts of revenue and earnings of the EQ/Global Bond PLUS Portfolio that have been included in EQ/Core Plus Bond Portfolio's Statement of Operations since the merger date. Prior to the combination, the net assets of the EQ/Core Plus Bond Portfolio totaled $479,253,868. Immediately after the combination, the net assets of the EQ/Core Plus Bond Portfolio totaled $758,044,602.

Note 9 Subsequent Events

The Adviser evaluated subsequent events from December 31, 2022, the date of these financial statements, through the date these financial statements were issued. The subsequent events include the following:

Effective January 1, 2023, a newly established entity, Equitable Investment Management, LLC ("EIM II"), became the administrator for the Trust and the Portfolios. The transfer of administration services to EIM II did not result in any change in the nature, scope or quality of the administration services being provided to the Trust and the Portfolios, or the personnel providing such services, and did not result in any change in the administration fees paid by the Portfolios.

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![LOGO](g401146g11m25.jpg)

**Report of Independent Registered Public Accounting Firm** 

To the Board of Trustees of EQ Premier VIP Trust and Shareholders of each of the eleven funds listed below

***Opinions on the Financial Statements***

We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of EQ/Conservative Allocation Portfolio, EQ/Conservative-Plus Allocation Portfolio, EQ/Moderate Allocation Portfolio, EQ/Moderate-Plus Allocation Portfolio, EQ/Aggressive Allocation Portfolio, EQ/Core Plus Bond Portfolio, Target 2015 Allocation Portfolio, Target 2025 Allocation Portfolio, Target 2035 Allocation Portfolio, Target 2045 Allocation Portfolio and Target 2055 Allocation Portfolio (constituting EQ Premier VIP Trust, hereafter collectively referred to as the "Funds") as of December 31, 2022, the related statements of operations for the year ended December 31, 2022, the statements of changes in net assets for each of the two years in the period ended December 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended December 31, 2022 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of December 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended December 31, 2022 and each of the financial highlights for each of the five years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinions***

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2022 by correspondence with the custodian, transfer agents and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

New York, New York

February 17, 2023

We have served as the auditor of one or more investment companies in the EIM LLC — advised mutual fund complex since 1997.

*PricewaterhouseCoopers LLP, PricewaterhouseCoopers Center, 300 Madison Avenue, New York, NY 10017 T: (646) 471 3000, www.pwc.com/us* 

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**<u>EQ PREMIER VIP TRUST</u>**

**<u>DISCLOSURE REGARDING ADVISORY CONTRACT APPROVALS</u>**

**APPROVALS OF INVESTMENT ADVISORY AND INVESTMENT SUB-ADVISORY AGREEMENTS DURING THE SIX-MONTH PERIOD ENDED DECEMBER 31, 2022 (UNAUDITED)** 

At an in-person meeting held on July 12-13, 2022, the Board of Trustees (the "Board") of EQ Premier VIP Trust (the "Trust"), including those Trustees who are not parties to any Agreement (as defined below) or "interested persons" (as that term is defined in the Investment Company Act of 1940, as amended) of such parties or the Trust (the "Independent Trustees"), considered and unanimously approved the renewal of the Investment Advisory Agreement (the "Advisory Agreement") between the Trust and Equitable Investment Management Group, LLC ("EIM" or the "Adviser") and, as applicable, the renewal of the Investment Sub-Advisory Agreements (each, a "Sub-Advisory Agreement" and together with the Advisory Agreement, the "Agreements") between the Adviser and each investment sub-adviser (each, a "Sub-Adviser" and together, the "Sub-Advisers"), as shown in the table below with respect to the series of the Trust (each, a "Portfolio" and together, the "Portfolios") listed below, for an additional one-year term.

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| | |
|:---|:---|
| **Portfolios** | **Agreement(s) Renewed by the Trust's Board<br>with respect to the Portfolios** |
|  EQ/Aggressive Allocation Portfolio<br> EQ/Conservative Allocation Portfolio<br> EQ/Conservative-Plus Allocation Portfolio<br> EQ/Moderate Allocation Portfolio<br> EQ/Moderate-Plus Allocation Portfolio<br> (collectively, the "EQ Allocation Portfolios")<br>Target 2015 Allocation Portfolio<br> Target 2025 Allocation Portfolio<br> Target 2035 Allocation Portfolio<br> Target 2045 Allocation Portfolio<br> Target 2055 Allocation Portfolio<br> (collectively, the "Target Allocation Portfolios") | Advisory Agreement with EIM |
|  EQ/Core Plus Bond Portfolio | Advisory Agreement with EIM<br> Sub-Advisory Agreement with AXA Investment Managers US Inc. ("AXA IM")<br> Sub-Advisory Agreement with Brandywine Global Investment Management, LLC ("Brandywine Global")<br> Sub-Advisory Agreement with Loomis, Sayles & Company, L.P. ("Loomis Sayles") |

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In reaching its decision to renew the Agreement(s) with respect to each Portfolio, the Board considered the overall fairness of the Agreement and whether the Agreement was in the best interests of the Portfolio and its investors. The Board further considered all factors it deemed relevant with respect to each Portfolio, including: (1) the nature, quality and extent of the overall services to be provided to the Portfolio by the Adviser, the relevant Sub-Advisers and, where applicable, their respective affiliates, including the investment performance of the Portfolio (and, where applicable, each allocated portion of the Portfolio advised by a different Sub-Adviser); (2) the level of the Portfolio's advisory fee and, where applicable, sub-advisory fees, and the Portfolio's expense ratios relative to those of peer funds; (3) the costs of the services to be provided by, and the profits to be realized by, the Adviser and its affiliates from their relationships with the Portfolio; (4) the anticipated effect of growth and size on the Portfolio's performance and expenses, including any potential economies of scale and, if so, whether any such economies of scale are equitably shared with investors; and (5) "fall-out" benefits that may accrue to the Adviser, the relevant Sub-Advisers, and their respective affiliates (that is, indirect benefits that they would not receive but for their relationships with the Portfolio). In considering each Agreement, the Board members did not identify any particular factor or information that was all-important or controlling, and each Trustee may have given different weights to different factors and, thus, each Trustee may have had a different basis for his or her decision.

In connection with its deliberations, the Board took into account a broad range of information (both written and oral) provided to the Board, including its various committees, throughout the year, as well as information

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provided specifically in connection with the annual renewal process. The Trustees also recognized that the contractual arrangements for the Portfolios have been reviewed by the Trustees and discussed with the Adviser in prior years and that the Trustees' conclusions may take into account conclusions reached during their consideration of these same arrangements in prior years. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process.

Information provided and discussed throughout the year included investment performance reports and related financial and general market outlook information for each Portfolio, as well as periodic reports on, among other matters, brokerage allocation and execution; pricing and valuation; legal and compliance matters; shareholder and other services and support provided to the Portfolios by the Adviser, the relevant Sub-Advisers and their respective affiliates; actual and potential conflicts of interest that could impact the business operations and relationships of the Adviser and the Trust or affect the Adviser's recommendations about Sub-Advisers; sales and marketing activity; and risk management. In addition, the sub-groups of the Board's Investment Committee, composed of Independent Trustees, met individually with, and engaged in extensive discussions along with management representatives and outside legal counsel with, the Sub-Advisers during presentations made at regularly scheduled Investment Committee meetings during the year.

Information provided and discussed specifically in connection with the annual renewal process included a report prepared by Broadridge Financial Solutions Inc. ("Broadridge"), an independent provider of mutual fund industry data, as well as additional substantial material prepared by management. Broadridge provided its report directly to the Independent Trustees and included in its report comparative fee, expense, and investment performance information for each Portfolio. The Independent Trustees, in consultation with their independent legal counsel, annually review and assess and, as they deem appropriate, request revisions to, the materials provided by Broadridge to ensure that the Independent Trustees continue to receive comparative fee, expense, and investment performance information in a format that facilitates and enhances their review of the Portfolios' investment advisory arrangements. The additional material prepared by management generally included Portfolio-by-Portfolio information showing each Portfolio's average net assets; advisory fees and, where applicable, sub-advisory fees; expense ratios; expense limitation arrangements; investment performance (in addition to the performance information prepared by Broadridge); and profitability information, including information regarding the profitability of the Adviser's operations on an overall Trust basis, as well as on a Portfolio-by-Portfolio basis. In addition, for each Portfolio, the Adviser and, where applicable, the relevant Sub-Advisers provided separate materials describing the Portfolio's investment performance over various time periods and the services provided and the fees charged with respect to the Portfolio, and discussing whether the Portfolio had performed as expected over time and other matters. In 2022, at the Board's request, management, in collaboration with fund counsel and Independent Trustees' counsel, engaged in a review of materials provided to the Board by Sub-Advisers in response to past years' requests, as part of an ongoing effort to streamline and enhance the quality of the materials and other information provided by the Sub-Advisers in connection with the Board's annual consideration of the renewal of the investment sub-advisory arrangements, to facilitate and enhance the Board's review.

The annual renewal process extends over at least two regular meetings of the Board in June and July, although the Independent Trustees believe that in fact the process extends year-round, to ensure that the Adviser and the Sub-Advisers have time to respond to any questions the Independent Trustees may have on their initial review of the materials and that the Independent Trustees have time to consider those responses. The Independent Trustees also held a conference call in advance of the meeting at which the Board approved the renewal of the Agreements to review the information provided and communicated follow-up questions for management to address at the renewal meeting. The Independent Trustees also met in executive sessions during the meeting to discuss the Agreements and the information provided. When invited, management representatives attended portions of the executive sessions to review and discuss matters relating to the Agreements and to provide additional information requested by the Independent Trustees. At the meeting and during the portions of the executive sessions attended by management, the Independent Trustees and management engaged in extensive discussions and negotiations regarding the Agreements. As noted below, as a result of these extensive discussions and negotiations, the Adviser agreed to implement revisions to the advisory fee rate schedule for the EQ Allocation Portfolios that are expected to lower these Portfolios' advisory fees at current and/or higher asset levels. The Independent Trustees were assisted by independent legal counsel prior to and during the meeting and during their deliberations regarding the Agreements, and also received from legal counsel materials addressing, among other things, the legal standards applicable to their consideration of the proposed renewal of the Agreements. In addition, the Independent Trustees requested and reviewed information and met during the year to discuss information relevant to their annual consideration of the Agreements.

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The Board also noted that the Trust is an affiliated investment company of EQ Advisors Trust and 1290 Funds, which are also managed by the Adviser, and that all of the Board members also currently serve on the Boards of Trustees of EQ Advisors Trust and 1290 Funds. The Board also noted that each Sub-Adviser currently serves as an investment sub-adviser for one or more series, or allocated portion(s) of series, of EQ Advisors Trust and 1290 Funds. The Trustees took into account information relating to the Adviser and the Sub-Advisers provided to the Trustees, in their capacities as Trustees of EQ Advisors Trust and 1290 Funds, at prior meetings of the Boards of Trustees of EQ Advisors Trust and 1290 Funds, and the Trustees noted their experience and familiarity with the Adviser, the Sub-Advisers, and the series of EQ Advisors Trust and 1290 Funds gained from their service on the Boards of Trustees of EQ Advisors Trust, 1290 Funds, and the Trust. The Trustees also noted that the EQ Allocation and Target Allocation Portfolios of the Trust operate as funds-of-funds managed by the Adviser, and series of EQ Advisors Trust and 1290 Funds serve as underlying investment options for these Portfolios of the Trust.

Although the Board approved the renewal of the Agreements for all of the Portfolios at the same Board meeting, the Board considered each Portfolio separately. In approving the renewal of the relevant Agreement(s) with respect to each Portfolio, each Trustee, including the Independent Trustees, after considering all factors they deemed relevant, reached a determination, with the assistance of Independent Trustees' counsel and fund counsel and through the exercise of their own business judgment, that the advisory fee and, where applicable, sub-advisory fees were fair and reasonable and that the renewal of the Agreement(s) was in the best interests of the applicable Portfolio and its investors. Although the Board gave attention to all information provided, the following discusses some of the primary factors it deemed relevant to its decision to renew the Agreements.

**Nature, Quality and Extent of Services** 

The Board evaluated the nature, quality and extent of the overall services to be provided to each Portfolio and its investors by the Adviser, the relevant Sub-Advisers and, where applicable, their respective affiliates. In addition to the investment performance and expense information discussed below, the Board considered the Adviser's and each relevant Sub-Adviser's responsibilities with respect to each Portfolio and the Adviser's and each relevant Sub-Adviser's experience in serving as an investment adviser for the Portfolio(s) and for funds and accounts similar to the Portfolio(s) each advises, including, as applicable, series (or allocated portion(s) of series) of EQ Advisors Trust and 1290 Funds.

With respect to the Adviser, the Board considered that the Adviser is responsible for, among other things, developing investment strategies for the Portfolios; making investment decisions for the Portfolios that it manages directly; monitoring and evaluating the performance of the Portfolios; monitoring the investment operations and composition of the Portfolios and, in connection therewith, monitoring compliance with the Portfolios' investment objectives, policies and restrictions, as well as the Portfolios' compliance with applicable law and the Trust's compliance policies and procedures; placing orders for the purchase and sale of investments for the Portfolios that it manages directly; monitoring brokerage selection, commission and other trading costs, quality of execution, and other brokerage matters, where applicable; coordinating and managing the flow of information and communications relating to the Portfolios among the applicable parties; coordinating responses to regulatory agency inquiries relating to the operations of the Trust and coordinating litigation matters involving the Adviser and the Trust; and implementing Board directives as they relate to the Portfolios. The Board also considered that, with respect to EQ/Core Plus Bond Portfolio, the Adviser also is responsible for researching, selecting and hiring Sub-Advisers, conducting ongoing due diligence on and monitoring Sub-Advisers, and, when necessary or advisable, terminating or replacing Sub-Advisers; allocating and rebalancing Portfolio assets among Sub-Advisers; and overseeing the selection of investments for the Portfolio. The Board also considered information regarding the Adviser's process for selecting and monitoring the Sub-Advisers and the other service providers to the Portfolios and its process for making investment decisions for the Portfolios that it manages directly, as well as information regarding the qualifications and experience of, and resources available to, the personnel who perform those functions with respect to the Portfolios. In addition, the Board considered the quality of the Adviser's communications with the Board and the Adviser's responsiveness to Board inquiries and requests made from time to time with respect to the Portfolios. The Board further considered that the Adviser also provides the Trust with personnel, including Trust officers, in connection with carrying out its responsibilities and is responsible for coordinating the development of new initiatives and evaluating the impact of proposed products and services on the Trust and its assets. The Board also considered that the Adviser assumes significant entrepreneurial risk in sponsoring new or restructured Portfolios and that the Adviser also bears and assumes significant ongoing risks, including investment, operational, enterprise, litigation, regulatory and compliance risks, with respect to all

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Portfolios. The Board considered that the Adviser's responsibilities with respect to all Portfolios include daily monitoring of investment, operational, enterprise, litigation, regulatory and compliance risks as they relate to the Portfolios. The Board also considered periodic reports provided to the Board regarding the Adviser's ongoing risk management activities. The Board also noted increased regulatory risk.

With respect to the Sub-Advisers, the Board considered that each Sub-Adviser, subject to the oversight of the Adviser, is responsible for making investment decisions for the portion of the EQ/Core Plus Bond Portfolio that it sub-advises; placing with brokers or dealers orders for the purchase and sale of investments for the portion of the EQ/Core Plus Bond Portfolio that it sub-advises; and performing certain related administrative functions. The Board also reviewed information regarding each Sub-Adviser's process for selecting investments for the portion of the EQ/Core Plus Bond Portfolio that it sub-advises, as well as information regarding the qualifications and experience of the Sub-Adviser's portfolio managers who provide services to the EQ/Core Plus Bond Portfolio, as well as information on succession planning. The Board also considered information regarding each Sub-Adviser's policies for executing portfolio transactions for the portion of the EQ/Core Plus Bond Portfolio that it sub-advises and, where applicable, information regarding a Sub-Adviser's policies for obtaining research from brokers and dealers.

In addition, the Board considered the allocation of Portfolio brokerage, including any allocations to broker-dealers affiliated with the Adviser or a Sub-Adviser. In this regard, the Board also considered the Adviser's and each Sub-Adviser's trading experience and received information regarding how the Adviser and each Sub-Adviser seek to achieve "best execution" on behalf of a Portfolio (or portion thereof), including a report by an independent portfolio trading analytical firm and reports from the Trust's Chief Compliance Officer regarding the monitoring of execution quality.

The Board also considered the Trust's Chief Compliance Officer's evaluation of the Adviser's and each Sub-Adviser's compliance programs, policies and procedures, including those relating to cybersecurity and business continuity, and any compliance matters involving the Adviser and any applicable Sub-Adviser that had been brought to the Board's attention during the year. In addition, the Board considered whether there were any pending lawsuits, enforcement proceedings or regulatory investigations involving the Adviser and the Sub-Advisers and reviewed information regarding the Adviser's and each Sub-Adviser's financial condition and history of operations and potential conflicts of interest in managing the Portfolios. The Board also considered information as to the overall amount of assets sub-advised by each Sub-Adviser. In addition to periodic reports throughout the year, the Independent Trustees received information about business relationships that the Adviser and/or its affiliates, including Equitable Financial Life Insurance Company, have with the Sub-Advisers and/or their affiliates in addition to the relationships involving the Portfolios. In this regard, the Board also received materials regarding the practices, policies and procedures adopted by the Adviser and the Trust to identify and mitigate actual and potential conflicts of interest, including conflicts that may arise in connection with those additional business relationships.

The Board also considered periodic reports provided to the Board regarding the services provided by the Adviser, the Sub-Advisers and, where applicable, their affiliates. The Board also considered actions taken by the Adviser and the Sub-Advisers in response to recent market conditions and considered the overall performance of the Adviser and the Sub-Advisers in this context, including the Adviser's and the Sub-Advisers' response to the market dislocation caused by Russia's invasion of Ukraine, as well as the recently increasing inflationary environment. The Board also considered information about the continuing impact of the COVID-19 pandemic and the Adviser's and each Sub-Adviser's plans with respect to its continued operation in an in-person, remote or hybrid work environment and the Adviser's and each Sub-Adviser's ability to continue to provide the same scope and quality of services to its respective Portfolio(s). The Board noted that, at the Independent Trustees' request, the Adviser had continued to provide the Board with regular updates on market volatility, the operation of the Trust and the Portfolios, developments related to the Adviser's business, and the Adviser's ongoing oversight of the Sub-Advisers, including enhanced supervisory measures taken, in light of the market and business disruptions resulting from a variety of recent market factors. The Board also noted that, at the Independent Trustees' request, the Adviser had continued to provide the Board with periodically updated EIM assets under management and Portfolio average net assets information, as well as updated investment performance information, including the impact of volatility management strategies on the performance of the EQ Allocation Portfolios, which invest in underlying portfolios that pursue such strategies.

The Board also considered strategic and other actions taken by the Adviser in response to recent events within the mutual fund industry, including actions taken in response to legal and regulatory developments,

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including new U.S. Securities and Exchange Commission rulemaking, affecting the mutual fund industry. The Board also requested and received throughout the past year information from the Adviser and various service providers on various topics impacting mutual funds generally, including the COVID-19 pandemic; pricing and valuation of portfolio securities; liquidity and derivatives risk management; cybersecurity; trustee independence; mutual fund board governance "best practices"; new reporting requirements for mutual funds; and environmental, social and governance investing. The Board noted that certain of these topics may present significant ongoing challenges for mutual funds and result in an increase in the responsibilities and costs of mutual fund service providers, including the Adviser.

The Board also considered the benefits to investors from participation in a Portfolio sponsored by the Adviser, including the benefits of investing in a fund that is part of a large fund complex that offers a wide range of portfolios, sub-advisers and investment styles. The Board likewise considered that investors have chosen to invest in mutual funds sponsored by the Adviser. In addition, the Board considered the nature, quality and extent of the administrative, investor servicing and distribution services that the Adviser and its affiliates provide to the Portfolios and their shareholders. The Board also noted that, throughout the past year, the Adviser and its affiliates had continued or undertaken strategic and other actions and initiatives intended to enhance various aspects of the Trust's and the Board's operations and investors' experience with the mutual funds sponsored by the Adviser. In this regard, the Board also noted that the Adviser continually reviews the overall line-up of investment options and conducts in-depth analysis of its entire fund complex to provide recommendations to the Board to streamline and strengthen the fund complex's line-up. The Board recognized that certain of these strategic and other actions and initiatives may also have a positive impact on the profitability and financial position of the Adviser and its affiliates.

For purposes of evaluating the nature, quality and extent of the overall services provided to each Portfolio, the Board also took into account discussions with the Adviser and, where applicable, the relevant Sub-Advisers about Portfolio investment performance, as well as the investment performance of series of EQ Advisors Trust and 1290 Funds that serve as underlying investment options for the EQ Allocation and Target Allocation Portfolios of the Trust, that occur at Board and Investment Committee meetings throughout the year. In this regard, the Board noted that, as part of regularly scheduled Portfolio reviews and other detailed reports to the Board on Portfolio performance, the Board periodically considered information regarding each Portfolio's performance over various time periods on both an absolute basis and relative to an appropriate broad-based securities market index ("benchmark") and/or a custom blended index developed by the Adviser that comprises broad-based indexes ("blended benchmark"), and one or more peer groups of other mutual funds deemed by Broadridge to be comparable to the Portfolio (each, a "peer group"). The performance information generally included, among other information, annual total returns, average annual total returns, cumulative returns and/or rolling period total returns. The Board also reviewed information about performance attribution and reviewed performance in relation to certain measures of the degree of investment risk undertaken by the portfolio managers. The Board also considered the Adviser's effectiveness in monitoring the performance of the Sub-Advisers, and the Adviser's responses to performance issues when identified. The Board also considered certain information, reflected in Appendix A, provided to the Board regarding each Portfolio's performance relative to a benchmark and/or a blended benchmark and a peer group for the one-, three-, five- and ten-year periods, as applicable, and since inception periods ended March 31, 2022. The Board noted that this information supplemented other performance information provided to the Board throughout the year and in connection with the annual renewal process. The Board also considered information, provided directly to the Board by Broadridge, regarding each Portfolio's performance over various time periods relative to a benchmark and/or a blended benchmark and Broadridge's "performance universe" consisting of a peer group of funds. The Board also noted that, at the Independent Trustees' request, the Adviser had provided the Board with updated performance information for all of the Portfolios for periods ended June 30, 2022, and would continue to provide updated performance and market commentary, in light of the significant market volatility resulting from the tightening of the Federal Reserve's monetary policy and other developments.

The Board received a description of, and factored into its evaluation of each Portfolio's performance the limitations inherent in, Broadridge's methodology for developing and constructing peer groups and determining, from year to year, which mutual funds should be included in which peer groups, among other things. In this regard, the Board also noted that Broadridge's methodology may result in similar Portfolios being included in different peer groups. The Board also noted that the number of mutual funds included in a peer group may be relatively small and may differ significantly from peer group to peer group and from year to year and that the constituent mutual funds included in a peer group also may differ from year to year, which, among other factors, can limit the relevance of the comparisons. While recognizing these inherent limitations, the Board believed the independent analysis conducted by Broadridge provided a useful measure of comparative performance.

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In evaluating the Portfolios' performance, the Board generally considered longer-term performance to be more important than short-term performance and also took into account factors including general market conditions (including the amount of volatility in the market over the past year); expectations for interest rate and inflation levels and credit conditions; the "style" in which the Portfolios are managed, as applicable, and whether that style is in or out of favor in the market; the relative sizes of the Portfolios; issuer-specific information; and fund cash flows. In this regard, the Board also noted how selecting different time periods for performance calculations (for example, whether a one-year period is from December to December or March to March) can produce significantly different results in terms of a Portfolio's returns and peer ranking on a relative basis. The Board further acknowledged that long-term performance could be impacted by even one period of significant outperformance or underperformance. The Board also considered that variations in performance among a Portfolio's operating classes reflect variations in class expenses, which result in lower performance for higher expense classes.

<u>EQ Allocation Portfolios</u> 

With respect to the performance of the EQ Allocation Portfolios, the Board considered that each Portfolio operates as a fund-of-funds and invests in a combination of other mutual funds (underlying portfolios) and recognized, therefore, that each Portfolio's performance is based, in part, on the total returns of the underlying portfolios in which it invests.

With respect to the benchmark performance comparisons, the Board took into account each Portfolio's current allocation target (that is, the approximate percentage of a Portfolio's assets allocated to equity and debt securities through its investments in underlying portfolios) and compared each Portfolio's performance to the performance of the S&P 500 Index and/or the Bloomberg U.S. Intermediate Government Bond Index, accordingly.

The Board factored into its evaluation of each EQ Allocation Portfolio's performance the limitations inherent in comparing the performance of asset allocation funds, such as the Portfolios, which may invest in equity and debt securities, to the performance of a benchmark that consists entirely of equity or debt securities and to the performance of a peer group that includes funds that may allocate their assets between equity and debt securities in different percentages over time than the Portfolios and among other asset classes. In this respect, the Board noted that, for each Portfolio, the Adviser had developed and implemented a custom blended benchmark that comprises broad-based indexes and has weighted levels of exposure to both equity and debt securities. The Board considered each Portfolio's blended benchmark in evaluating the Portfolio's performance. The Board further considered that the underlying portfolios in which each Portfolio invests may employ a tactical volatility management strategy that is intended to reduce the volatility associated with investing in equity securities in an effort to produce more favorable risk-adjusted returns over extended market cycles. The Board noted that the funds in each Portfolio's peer group may or may not employ a tactical volatility management strategy like that employed by underlying portfolios in which the Portfolio invests.

<u>Target Allocation Portfolios</u> 

With respect to the performance of the Target Allocation Portfolios, the Board considered that each Portfolio operates as a fund-of-funds and invests in a combination of other mutual funds (underlying portfolios) and recognized, therefore, that each Portfolio's performance is based, in part, on the total returns of the underlying portfolios in which it invests.

The Board factored into its evaluation of each Target Allocation Portfolio's performance the limitations inherent in comparing the performance of time-weighted asset allocation funds, such as the Portfolios, which may invest in equity and debt securities, to the performance of a peer group that includes funds that may allocate their assets between equity and debt securities in different percentages over time than the Portfolios and among other asset classes. The Board also factored into its evaluation of each Target Allocation Portfolio's performance that, although the Portfolio's benchmark may correspond to a particular target retirement date, it may have levels of exposure to equity and debt securities that vary from the Portfolio's asset allocation over time. The Board also took note of the relatively small size of each Target Allocation Portfolio and the likely impact that a Portfolio's size has on its expenses and performance.

<u>EQ/Core Plus Bond Portfolio</u> 

With respect to the performance of the EQ/Core Plus Bond Portfolio, the Board considered that the Portfolio is actively managed and advised by multiple Sub-Advisers. In evaluating the performance of the EQ/Core Plus Bond Portfolio, the Board also noted that AXA IM, Brandywine Global, and Loomis Sayles had been retained as the

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Portfolio's sub-advisers, and the Portfolio had implemented a new investment strategy and changed its investment objective, performance benchmark, and fee and expense structure, in connection with a restructuring of the Portfolio in May 2020 and, therefore, the Board focused on the Portfolio's performance since that time.

<u>All Portfolios</u> 

The Board and the Adviser discussed the performance of each Portfolio, including whether each Portfolio had performed as expected over time. The Board and the Adviser also discussed, where applicable, the reasons for a Portfolio's underperformance for certain periods relative to its peer group and/or benchmark and/or blended benchmark, as applicable, as well as actions being taken to enhance that Portfolio's performance. In this regard, the Board noted that performance, especially short-term performance, is only one of the factors that it deems relevant to its consideration of a Portfolio's Agreement(s) and that, after considering all relevant factors, it can reach a decision to renew an Agreement notwithstanding a Portfolio's relative underperformance.

Based on its review and the explanations provided by the Adviser and, where applicable, the relevant Sub-Advisers regarding the performance of each Portfolio, the Board determined, with respect to each Portfolio, that (i) the Portfolio and its investors would benefit from the Adviser's and, where applicable, each relevant Sub-Adviser's continued management of the Portfolio, and (ii) the nature, quality and extent of the overall services provided by the Adviser, the relevant Sub-Advisers and, where applicable, their respective affiliates were appropriate for the Portfolio in light of its investment objectives and, thus, supported a decision to approve the renewal of the Agreement(s).

**Expenses** 

The Board considered each Portfolio's advisory fee and, where applicable, sub-advisory fees in light of the nature, quality and extent of the overall services provided by the Adviser and, where applicable, the relevant Sub-Advisers. The Board also reviewed comparative fee and expense information for each Portfolio provided directly to the Board by Broadridge. The information provided by Broadridge included an analysis of how each Portfolio's contractual advisory fee, actual advisory fee, other expense components, and total expense ratio compared with those of peer groups of other mutual funds selected by Broadridge as constituting an appropriate expense comparison for the Portfolio (typically, both a smaller expense "group" of funds selected for similarity in terms of asset size as well as other factors, and a broader expense "universe" consisting of a larger group of funds more broadly comparable to the Portfolio) (a Portfolio's "Broadridge category"). For each Portfolio, Broadridge provided information on the Portfolio's contractual advisory fee in comparison with the contractual advisory fee that would have been charged by other funds within a Broadridge category assuming the other funds were similar in size to the Portfolio, as well as information on the Portfolio's actual advisory fee and total expense ratio in comparison with those of other funds within a Broadridge category. The advisory fee analysis includes within such fee any separate administrative fee paid by a fund, including the administrative fee a Portfolio paid to Equitable Investment Management, LLC, an affiliate of the Adviser, in its capacity as administrator<sup>1</sup> for the Portfolio. The contractual advisory fee analysis does not take into account any fee reimbursements or waivers, whereas the actual advisory fee analysis does take into account any advisory (including any administrative) fee reimbursements or waivers that benefit a fund. The total expense ratio represents a fund's total net operating expenses and takes into account any expense reimbursements or fee waivers that benefit a fund. Broadridge provided, and the Board considered, total expense ratio comparisons including and excluding any 12b-1 or non 12b-1 service fees, and including fees and expenses of any underlying funds in which a fund invests. Broadridge also provided, and the Board considered, comparisons to managed volatility Broadridge categories for the EQ Allocation Portfolios, which invest in underlying portfolios that pursue volatility management strategies.

The Broadridge expense data was based upon information taken from each Portfolio's audited annual report for the period ended December 31, 2021, which reflects historical asset levels that may be quite different from those currently existing, particularly in a period of market volatility. Broadridge provided expense data for Class B shares of each Portfolio. The Board reviewed the expense data for Class B shares as a proxy for all of a Portfolio's operational share classes. In this regard, the Board noted that the expenses for a Portfolio's Class B shares are generally equal to the expenses for a Portfolio's Class A shares (as applicable) and higher than the expenses for a Portfolio's Class K shares and that the expense comparisons may differ for different classes. Portfolio-specific contractual advisory fee and total expense ratio comparisons are provided below. The total expense ratio comparisons exclude any 12b-1 or non 12b-1 service fees, but include fees and expenses of any underlying funds in which a fund invests.

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<sup>1</sup> The Adviser served as the administrator for the Trust and its Portfolios prior to August 1, 2021.

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The Board received a description of, and factored into its evaluation of each Portfolio's fees and expenses the limitations inherent in, Broadridge's methodology for developing and constructing Broadridge categories and for determining, from year to year, which mutual funds should be included in which Broadridge categories, among other things. In this regard, the Board also noted that Broadridge's methodology may result in similar Portfolios being included in different peer groups. The Board recognized these inherent limitations and, taking into account commentary and supporting data presented by management, also recognized that comparisons between a Portfolio and other mutual funds in a Broadridge category may not be as relevant in certain circumstances, given that in some cases a Portfolio may exhibit notable differences (for example, in its objective(s), management techniques, relative size, and operating structure) when compared to other mutual funds in a Broadridge category. The Board also noted that the number of mutual funds included in a Broadridge category may be relatively small and may differ significantly from category to category and from year to year and that the constituent mutual funds included in a Broadridge category (as well as their respective advisory/administrative fees and total expense ratios) also may differ from year to year, which can limit the relevance of the comparisons. The Board noted that it generally considered the more-narrow expense "group" comparisons to be more important in the first instance than the broader expense "universe" comparisons, but took into account the broader expense universe comparisons as well, including, among other circumstances, when the number of funds in the more-narrow expense group was small or other aspects of the Portfolio differed appreciably from those of the funds in the more-narrow expense group. For uniformity, the Portfolio-specific contractual advisory fee and total expense ratio comparisons provided below are relative to the broader expense universe. The Board also noted that there is no standard definition of advisory and administrative services, meaning that different mutual funds may receive different services, rendering fee and expense comparisons more difficult. Nonetheless, the Board believed that the independent analysis conducted by Broadridge assisted the Board in evaluating the reasonableness of each Portfolio's advisory fee and total expense ratio.

The Board also considered each EQ Allocation and Target Allocation Portfolio's advisory fee rate relative to the advisory fee rates of other portfolios managed by the Adviser that, like these Portfolios, are structured as funds-of-funds, and noted that differences in the level of the fees reflected differences between a Portfolio and other funds-of-funds managed by the Adviser.

The Board further considered that the advisory fee rate schedules for each of the EQ Allocation Portfolios and the EQ/Core Plus Bond Portfolio include breakpoints that reduce the fee rate as a Portfolio's assets increase above certain levels. The Board also considered that the administrative fee rate schedule for all of the Portfolios aggregates the assets managed by the Adviser in these Portfolios and in several portfolios of EQ Advisors Trust, which is expected to reduce the likelihood that a Portfolio's administrative fee would increase in the future if the Portfolio's assets decline over time, and includes breakpoints that reduce the fee rate as aggregate Portfolio assets increase above certain levels. The Board noted that any such reduction in a Portfolio's effective advisory and/or administrative fee would result in corresponding reductions in the Portfolio's total expense ratios. In addition, the Board considered that the Adviser had contractually agreed to make payments or waive all or a portion of its and its affiliates' advisory, administrative and other fees so that each Portfolio's total expense ratios do not exceed certain levels as set forth in the Portfolio's prospectus. In this regard, the Board also noted that each Portfolio's expense limitation arrangement includes the fees and expenses of underlying portfolios in which the Portfolio invests and, thus, such fees and expenses would not cause a Portfolio's annual operating expenses to exceed its expense limitation.

<u>EQ Allocation Portfolios</u> 

The Board considered that the contractual advisory fee for each of the EQ/Aggressive Allocation, EQ/Conservative Allocation and EQ/Conservative-Plus Allocation Portfolios was at the median for the Portfolio's respective Broadridge category, and the contractual advisory fee for each of the EQ/Moderate Allocation and EQ/Moderate-Plus Allocation Portfolios was above (but within five basis points of) the median for the Portfolio's respective Broadridge category. The Board also considered that the total expense ratio for the Class B shares of each Portfolio was above (but, for the EQ/Conservative Allocation Portfolio, within five basis points of) the median for the Portfolio's respective Broadridge category.

The Board also noted that, as a result of the expense limitation arrangement described above, the actual advisory fee for the EQ/Conservative Allocation Portfolio was lower than the Portfolio's contractual advisory fee.

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The Board also considered that, after extensive discussions and negotiations with the Adviser, the Adviser had agreed, effective October 1, 2022, to implement revisions to the advisory fee rate schedule for the EQ Allocation Portfolios that are expected to lower these Portfolios' advisory fees at current and/or higher asset levels.

Based on its review, the Board determined, with respect to each EQ Allocation Portfolio, that the Adviser's advisory fee is fair and reasonable.

<u>Target Allocation Portfolios</u> 

The Board considered that the contractual advisory fee for the Target 2015 Allocation Portfolio was at the median for the Portfolio's Broadridge category, and the contractual advisory fee for each of the Target 2025 Allocation, Target 2035 Allocation, Target 2045 Allocation and Target 2055 Allocation Portfolios was above (but within five basis points of) the median for the Portfolio's respective Broadridge category. The Board also considered that the total expense ratio for the Class B shares of each Portfolio was above the median for the Portfolio's respective Broadridge category.

The Board also took note of the relatively small size of each Portfolio and the likely impact that a Portfolio's size has on its expenses.

The Board also noted that, as a result of the expense limitation arrangement described above, the actual advisory fee for each of the Target 2015 Allocation and Target 2055 Allocation Portfolios was lower than the Portfolio's contractual advisory fee.

Based on its review, the Board determined, with respect to each Target Allocation Portfolio, that the Adviser's advisory fee is fair and reasonable.

<u>EQ/Core Plus Bond Portfolio</u> 

The Board considered that the contractual advisory fee for the EQ/Core Plus Bond Portfolio was above the median for the Portfolio's Broadridge category. The Board also considered that the total expense ratio for the Class B shares of the Portfolio was above the median for the Portfolio's Broadridge category.

The Board also noted that, as a result of the expense limitation arrangement described above, the actual advisory fee for the Portfolio was lower than the Portfolio's contractual advisory fee.

In addition, the Board further considered the relative levels of the sub-advisory fees paid to the relevant Sub-Advisers and the advisory fee retained by the Adviser in light of, among other factors, the nature and extent of responsibilities retained and risks assumed by the Adviser and not delegated to or assumed by the relevant Sub-Advisers, and the information prepared by management regarding the level of profits realized by the Adviser in connection with its operation of the Portfolio. The Board also considered the sub-advisory fee paid to each Sub-Adviser in light of fees charged by the Sub-Adviser to similar funds advised or sub-advised by the Sub-Adviser, including explanations of differences among funds where relevant.

Based on its review, the Board determined, with respect to the EQ/Core Plus Bond Portfolio, that the Adviser's advisory fee and the Sub-Advisers' sub-advisory fees are fair and reasonable.

The Board also noted that the EQ/Core Plus Bond Portfolio was proposed to acquire a series of EQ Advisors Trust in a reorganization transaction, and that the Adviser had agreed to reduce the EQ/Core Plus Bond Portfolio's expense limitation if the shareholders of the other series approve the proposed reorganization.<sup>2</sup>

**Profitability and Costs** 

The Board also considered the level of profits realized by the Adviser and its affiliates in connection with the operation of each Portfolio. In this respect, the Board reviewed profitability information setting forth the overall profitability of the Trust to the Adviser and its affiliates, as well as the Adviser's and its affiliates' profits in providing management and other services to each of the individual Portfolios during the 12-month period ended December 31, 2021, which was the most recent fiscal year for the Adviser. The Board also considered a year-over-year comparison of profitability information for the one-year periods ended December 31, 2021, 2020, and 2019.

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<sup>2</sup> Shareholders of the series of EQ Advisors Trust approved the proposed reorganization at a shareholder meeting held on September 28, 2022. The reorganization occurred in November 2022.

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In reviewing the Adviser's profitability analysis, attention was given to the methodology the Adviser followed in determining and allocating costs to each Portfolio. The Board recognized that there is no uniform methodology within the asset management industry regarding the allocation of firm-wide or complex-wide expenses for determining profitability for this purpose; cost allocation methodologies are inherently subjective; and various cost allocation methodologies may each be reasonable while producing different results. In this regard, the Board noted that the Adviser's cost allocation methodology was consistent with the cost allocation methodology followed in the profitability report presentations for the Portfolios beginning with the July 2018 annual renewal process. The Board also noted that, in consultation with and through independent legal counsel, the Board's Audit Committee has engaged an outside consultant to conduct periodic assessments of the cost allocation methodology, including adjustments to the methodology, as part of the Board's review of the Adviser's profitability analysis in connection with the annual renewal process. In addition to the annual profitability report presentation and extensive discussions with management, the Board took into account the series of assessments and noted that, following each such assessment, the consultant found that the Adviser's overall cost allocation methodology was reasonable in all material respects and generally consistent with observed industry practices. The Board also took into account management's ongoing costs and expenditures in providing and improving services for the Portfolios, as well as the need to meet additional regulatory and compliance requirements resulting from changes in rules and other regulations and to adapt to other challenges impacting the mutual fund industry. In addition, the Board considered information prepared by management and from third party sources comparing the profitability of the Adviser on an overall basis to the profitability of other publicly held asset managers (including asset managers similar to the Adviser) over various time periods.

In addition, with respect to the EQ/Core Plus Bond Portfolio, the Board noted that the Board and the Adviser generally are aware of the fees charged by the Sub-Advisers to other clients (this information having been provided to the Board and the Adviser by the Sub-Advisers in conjunction with the proposed renewal of the Sub-Advisory Agreements) and that the Adviser believes that the fees agreed upon with the Sub-Advisers are reasonable in light of the nature, quality and extent of the investment sub-advisory services provided. The Board acknowledged that, because each Sub-Adviser's fee is paid by the Adviser, the Adviser is incentivized to negotiate a favorable fee. The Adviser advised the Board that it does not regard Sub-Adviser profitability as meaningful to its evaluation of the Sub-Advisory Agreements. The Board acknowledged the Adviser's view of Sub-Adviser profitability, noting the Board's findings as to the reasonableness of the sub-advisory fees and that the fees paid to the Sub-Advisers are the product of negotiations with the Adviser and reflect levels of profitability acceptable to the Adviser and the Sub-Advisers based on the particular circumstances for each of them. The Board further noted that each Sub-Adviser's fee is paid by the Adviser and not the EQ/Core Plus Bond Portfolio and that many responsibilities related to the advisory function are retained by the Adviser.

Based on its consideration of the factors above, the Board determined that the level of profits realized by the Adviser and its affiliates from providing services to each Portfolio was not excessive in view of the nature, quality and extent of the services provided and the risks assumed.

**Economies of Scale** 

The Board also considered whether economies of scale or efficiencies are realized by the Adviser as the Portfolios grow larger, the extent to which this is reflected in the level of advisory and administrative fees charged, and whether there is potential for realization of any further economies of scale or efficiencies. While recognizing that any precise determination is inherently subject to assumptions and subjective assessments, the Board considered that any realized economies of scale or efficiencies may be shared with portfolios and their shareholders in a variety of ways, including: (i) breakpoints in the advisory fee or other fees so that a portfolio's effective fee rate declines as the portfolio grows in size, (ii) subsidizing a portfolio's expenses by making payments or waiving all or a portion of the advisory fee or other fees so that the portfolio's total expense ratio does not exceed certain levels, (iii) setting the advisory fee or other fees so that a portfolio is priced to scale, which assumes that the portfolio has sufficient assets from inception to operate at a competitive fee rate without any fee waiver or expense reimbursement from the manager, and (iv) reinvestment in, and enhancements to, the services that the manager and its affiliates provide to a portfolio and its shareholders. The Board noted that the advisory fee rate schedules for each of the EQ Allocation Portfolios and the EQ/Core Plus Bond Portfolio include breakpoints that reduce the fee rate as Portfolio assets increase above certain levels, and also considered whether such breakpoints are set at appropriate asset levels. The Board also noted that the administrative fee rate schedule for all of the Portfolios aggregates the assets managed by the Adviser in these Portfolios and in several portfolios of EQ Advisors Trust and includes breakpoints that reduce the fee rate as aggregate Portfolio assets increase above

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certain levels. The Board also considered that, as funds-of-funds that indirectly bear the expenses charged by the underlying portfolios in which they invest, the EQ Allocation and Target Allocation Portfolios would benefit from any breakpoints in the advisory and/or administrative fee rate schedules for the underlying portfolios, all of which are managed by the Adviser. The Board also noted that the Adviser was subsidizing certain Portfolios' expenses by making payments or waiving all or a portion of its and its affiliates' advisory, administrative and other fees so that the Portfolios' total expense ratios do not exceed certain contractual levels as set forth in their prospectuses. The Board recognized that expense limitation arrangements can have an effect similar to breakpoints in sharing economies of scale with shareholders and provide protection from an increase in expenses if a Portfolio's assets decline. In this connection, the Board also considered that, after extensive discussions and negotiations with the Adviser, the Adviser had agreed, effective October 1, 2022, to implement certain lower breakpoint levels and fee rates in the advisory fee rate schedule for the EQ Allocation Portfolios. In addition, the Board considered that the Adviser shares any realized economies of scale with the Portfolios in other ways, which may include setting a Portfolio's fees so that they are priced to scale. The Board considered that the effect of this pricing strategy is that the Adviser could lose money in the early stages of a Portfolio's operation (and bear the risk that the Portfolio will never become profitable), while shareholders of the Portfolio receive the benefit of economies of scale that the Adviser expects the Portfolio will achieve as it grows. The Board further considered that the Adviser shares any realized economies of scale with the Portfolios through reinvestment in, and enhancements to, the services that the Adviser and its affiliates provide to the Portfolios and their shareholders, such as hiring additional personnel, providing additional resources in areas relating to management and administration of the Portfolios, and the ongoing development of the Adviser's infrastructure and information technology to support the Portfolios through, among other things, cybersecurity, business continuity planning, and risk management. The Board also noted that the Adviser can share economies of scale with Portfolios by maintaining existing expense structures in the face of a rising cost environment.

In addition, the Board noted that the sub-advisory fee schedules for certain of the Sub-Advisers aggregate the assets managed by the Sub-Adviser in the EQ/Core Plus Bond Portfolio and in one or more other mutual funds for which the Sub-Adviser serves as investment sub-adviser and the Adviser serves as investment adviser. The Board also noted that the sub-advisory fee schedules for certain of the Sub-Advisers include breakpoints that reduce the sub-advisory fee rate as applicable Portfolio assets under the Sub-Adviser's management increase above certain levels. In this regard, the Board acknowledged that, at some levels, the breakpoints in a sub-advisory fee schedule may result in savings to the Adviser and not to investors. The Board also noted that the aggregation of assets may result in the EQ/Core Plus Bond Portfolio reaching a breakpoint sooner than if the sub-advisory fee schedule did not aggregate assets, which also has the potential to benefit the Adviser. With respect to the sub-advisory fee that does not include breakpoints, the Board considered the Sub-Adviser's explanation that the sub-advisory fee is priced at a competitive level.

Based on its consideration of the factors above, the Board determined that there was a reasonable sharing of any realized economies of scale or efficiencies under the advisory, administrative and, as applicable, sub-advisory fee schedules at the present time.

**Fall-Out and Other Benefits** 

The Board also considered the extent to which fall-out benefits may accrue to the Adviser and its affiliates. In this connection, the Board considered several possible fall-out benefits and other types of benefits, including the following. The Board noted that Equitable Investment Management, LLC, an affiliate of the Adviser, currently serves as the administrator for the Portfolios and receives compensation for acting in this capacity. The Board also recognized that Equitable Distributors, LLC, also an affiliate of the Adviser, serves as the underwriter for the Trust and receives from the Portfolios payments pursuant to Rule 12b-1 plans with respect to their Class A and Class B shares to compensate it for providing shareholder services and selling activities, which could lead to growth in the Trust's assets and corresponding benefits from such growth, including economies of scale. Further, the Board considered that Sanford C. Bernstein & Co., LLC, a registered broker-dealer, is an affiliate of the Adviser and may, from time to time, receive brokerage commissions from the Portfolios in connection with the purchase and sale of portfolio securities; provided, however, that those transactions, among other things, are consistent with seeking best execution. The Board also recognized that the EQ Allocation and Target Allocation Portfolios invest in other (underlying) portfolios managed by the Adviser, and in certain cases advised by an affiliated sub-adviser, and that these underlying portfolios pay advisory fees to the Adviser, who may in certain cases pay sub-advisory fees to an affiliated sub-adviser, and also pay administrative fees and distribution fees to the Adviser's administrative services and distribution affiliates. The Board also noted that the Adviser's affiliated insurance companies, as depositors of

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the insurance company separate accounts investing in the Portfolios, receive certain significant tax benefits associated with such investments, including a dividend received deduction (which is a tax deduction received by a corporation, such as an insurance company, on the dividends paid to it by companies in which it has an ownership stake, such as the Portfolios whose shares are held by insurance company separate accounts), a foreign tax credit (which is a tax credit received by a shareholder for foreign income taxes paid by a Portfolio to a foreign country) and tax benefits associated with Portfolios making elections pursuant to Section 382 of the Internal Revenue Code (which limits a corporation's use of its existing loss carryforwards following an ownership change of the corporation absent certain elections by entities that it is deemed to control, such as the Portfolios, to increase the limitations with respect to their use of their own loss carryforwards), as well as other potential benefits. The Board also considered that the Portfolios are offered as investment options through variable insurance contracts offered and sold by the Adviser's affiliated insurance companies and that the performance of each Portfolio may impact, positively or negatively, each insurance company's ability to hedge the risks associated with guarantees that each insurance company may provide as the issuer of such contracts. The Board also noted that the Adviser's affiliated insurance companies and Equitable Distributors, LLC receive compensation, which may include sales charges, separate account fees and charges, and other variable contract fees and charges, from the sale and administration of these variable insurance contracts. The Board also considered that certain Portfolios (through the underlying portfolios in which they invest) are subject to certain investment controls that are designed to reduce volatility for investors and that may benefit both investors and the Adviser and its affiliates (including by making it easier for the insurance companies to hedge their risks under the guarantees). Based on its review, the Board determined that any "fall-out" benefits and other types of benefits that may accrue to the Adviser are fair and reasonable.

The Board also considered possible fall-out benefits and other types of benefits that may accrue to a Sub-Adviser, including the following. The Board noted that each Sub-Adviser currently serves as investment sub-adviser for other funds advised by the Adviser and receives sub-advisory fees with respect to those funds. The Board also recognized that a Sub-Adviser and its affiliates may sell, and earn sales commissions and/or other compensation with respect to, insurance products issued by the Adviser's affiliated insurance companies and that the proceeds of those sales may be invested in a Portfolio. The Board also recognized that a Sub-Adviser and its affiliates may sell, and earn sales commissions and/or other compensation with respect to, other investment products issued by the Adviser or its affiliates. In addition, the Board noted that a Sub-Adviser may benefit from greater exposure in the marketplace with respect to the Sub-Adviser's investment process and from expanding its level of assets under management, and a Sub-Adviser may derive benefits from its association with the Adviser and the other Sub-Advisers to the EQ/Core Plus Bond Portfolio. Based on its review, the Board determined that any "fall-out" benefits and other types of benefits that may accrue to the Sub-Advisers are fair and reasonable.

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**Appendix A** 

The Board noted that the following information regarding each Portfolio's performance relative to a benchmark and/or a blended benchmark and a peer group for the one-, three-, five- and ten-year periods, as applicable, and since inception periods ended March 31, 2022, supplemented other performance information (including performance based on rolling time periods) provided to the Board throughout the year and in connection with the annual renewal process. The performance results may differ from the performance results for more recent periods, including those shown elsewhere in this report. The performance results do not reflect any fees and expenses associated with variable life insurance contracts and variable annuity certificates and contracts, which would reduce the performance results. 

**EQ Premier VIP Trust Investment Performance** 

**For periods ended March 31, 2022** 

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Inception<br>Date** | **1 Year** | **3 Years** | **5 Years** | **10 Years** | **Since<br>Inception** |
|  **EQ Allocation Portfolios** |  |  |  |  |  |  |
|  **EQ/Conservative Allocation Portfolio Class A** | **7/31/2003** | **(2.51)** | **3.20** | **3.07** | **2.85** | **3.55** |
|  **EQ/Conservative Allocation Portfolio Class B** | **7/31/2003** | **(2.61)** | **3.20** | **3.07** | **2.84** | **3.43** |
|  **EQ/Conservative Allocation Portfolio Class K** | **8/28/2012** | **(2.37)** | **3.46** | **3.33** |  | **3.12** |
|  Lipper Mixed-Asset Target Allocation Conservative Funds |  | (0.30) | 5.39 | 5.02 | 4.87 | 5.26 |
|  66% BB U.S. Intmd Govt Bd / 5% MSCI EAFE / 4% S&P 400 / 10% S&P 500 / 1% Russell 2000 / 14% ICE BofA US 3-Mo T Bill |  | (1.02) | 3.95 | 3.69 | 3.42 | 4.14 |
|  S&P 500 Index |  | 15.65 | 18.92 | 15.99 | 14.64 | 10.67 |
|  Bloomberg U.S. Intermediate Government Bond Index |  | (4.16) | 1.03 | 1.34 | 1.28 | 2.75 |
|  **EQ/Conservative-Plus Allocation Portfolio Class A** | **7/31/2003** | **(1.26)** | **5.80** | **5.17** | **4.78** | **4.69** |
|  **EQ/Conservative-Plus Allocation Portfolio Class B** | **7/31/2003** | **(1.16)** | **5.80** | **5.16** | **4.79** | **4.57** |
|  **EQ/Conservative-Plus Allocation Portfolio Class K** | **11/30/2011** | **(1.01)** | **6.05** | **5.42** | **5.05** | **5.42** |
|  Lipper Mixed-Asset Target Allocation Conservative Funds |  | (0.30) | 5.39 | 5.02 | 4.87 | 5.26 |
|  50% BB U.S. Intmd Govt Bd / 10% MSCI EAFE / 8% S&P 400 / 18% S&P 500 / 4% Russell 2000 / 10% ICE BofA US 3-Mo T Bill |  | 0.96 | 6.71 | 5.90 | 5.57 | 5.70 |
|  S&P 500 Index |  | 15.65 | 18.92 | 15.99 | 14.64 | 10.67 |
|  Bloomberg U.S. Intermediate Government Bond Index |  | (4.16) | 1.03 | 1.34 | 1.28 | 2.75 |
|  **EQ/Moderate Allocation Portfolio Class A** | **1/27/1986** | **(0.94)** | **6.88** | **6.09** | **5.63** | **7.42** |
|  **EQ/Moderate Allocation Portfolio Class B** | **7/8/1998** | **(0.95)** | **6.89** | **6.10** | **5.63** | **4.54** |
|  **EQ/Moderate Allocation Portfolio Class K** | **11/30/2011** | **(0.69)** | **7.15** | **6.38** | **5.90** | **6.34** |
|  Lipper Mixed-Asset Target Allocation Moderate Funds |  | 2.27 | 8.04 | 7.16 | 7.14 | 7.60 |
|  42% BB U.S. Intmd Govt Bd / 15% MSCI EAFE / 9% S&P 400 / 20% S&P 500 / 6% Russell 2000 / 8% ICE BofA US 3-Mo T Bill |  | 1.60 | 7.80 | 6.76 | 6.43 | N/A |
|  S&P 500 Index |  | 15.65 | 18.92 | 15.99 | 14.64 | 11.29 |
|  Bloomberg U.S. Intermediate Government Bond Index |  | (4.16) | 1.03 | 1.34 | 1.28 | 5.11 |
|  **EQ/Moderate-Plus Allocation Portfolio Class A** | **7/31/2003** | **0.43** | **9.59** | **8.24** | **7.65** | **6.67** |
|  **EQ/Moderate-Plus Allocation Portfolio Class B** | **7/31/2003** | **0.42** | **9.58** | **8.24** | **7.63** | **6.55** |
|  **EQ/Moderate-Plus Allocation Portfolio Class K** | **11/30/2011** | **0.68** | **9.83** | **8.52** | **7.91** | **8.53** |
|  Lipper Mixed-Asset Target Allocation Growth Funds |  | 3.69 | 9.81 | 8.53 | 8.31 | 7.76 |
|  25% BB U.S. Intmd Govt Bd / 20% MSCI EAFE / 12% S&P 400 / 28% S&P 500 / 10% Russell 2000 / 5% ICE BofA US 3-Mo T Bill |  | 3.48 | 10.38 | 8.83 | 8.49 | 7.74 |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Inception<br>Date** | **1 Year** | **3 Years** | **5 Years** | **10 Years** | **Since<br>Inception** |
|  S&P 500 Index |  | 15.65 | 18.92 | 15.99 | 14.64 | 10.67 |
|  Bloomberg U.S. Intermediate Government Bond Index |  | (4.16) | 1.03 | 1.34 | 1.28 | 2.75 |
|  **EQ/Aggressive Allocation Portfolio Class A** | **7/31/2003** | **2.48** | **11.96** | **10.19** | **9.52** | **7.56** |
|  **EQ/Aggressive Allocation Portfolio Class B** | **7/31/2003** | **2.57** | **12.00** | **10.21** | **9.52** | **7.44** |
|  **EQ/Aggressive Allocation Portfolio Class K** | **11/30/2011** | **2.81** | **12.24** | **10.49** | **9.80** | **10.60** |
|  Lipper Mixed-Asset Target Allocation Aggressive Growth Funds |  | 4.48 | 11.55 | 10.05 | 9.50 | 8.08 |
|  8% BB U.S. Intmd Govt Bd / 25% MSCI EAFE / 14% S&P 400 / 39% S&P 500 / 12% Russell 2000 / 2% ICE BofA US 3-Mo T Bill |  | 5.88 | 13.01 | 10.95 | 10.57 | 9.04 |
|  S&P 500 Index |  | 15.65 | 18.92 | 15.99 | 14.64 | 10.67 |
|  Bloomberg U.S. Intermediate Government Bond Index |  | (4.16) | 1.03 | 1.34 | 1.28 | 2.75 |
|  **Target 2015 Allocation Portfolio Class B** | **8/31/2006** | **(0.56)** | **6.19** | **5.68** | **5.52** | **4.26** |
|  **Target 2015 Allocation Portfolio Class K** | **11/30/2011** | **(0.30)** | **6.45** | **5.95** | **5.79** | **6.33** |
|  Lipper Mixed-Asset Target 2015 Funds |  | 0.72 | 7.22 | 6.63 | 6.50 | 5.67 |
|  S&P Target Date 2015 Index |  | 1.90 | 7.06 | 6.40 | 6.24 | 5.57 |
|  **Target 2025 Allocation Portfolio Class B** | **8/31/2006** | **1.63** | **8.81** | **7.81** | **7.44** | **5.34** |
|  **Target 2025 Allocation Portfolio Class K** | **11/30/2011** | **1.88** | **9.09** | **8.09** | **7.72** | **8.38** |
|  Lipper Mixed-Asset Target 2025 Funds |  | 1.81 | 9.02 | 7.97 | 7.66 | 6.01 |
|  S&P Target Date 2025 Index |  | 2.88 | 8.56 | 7.71 | 7.56 | 6.32 |
|  **Target 2035 Allocation Portfolio Class B** | **8/31/2006** | **3.16** | **10.68** | **9.27** | **8.63** | **6.00** |
|  **Target 2035 Allocation Portfolio Class K** | **11/30/2011** | **3.41** | **10.96** | **9.55** | **8.90** | **9.64** |
|  Lipper Mixed-Asset Target 2035 Funds |  | 3.29 | 11.04 | 9.57 | 8.99 | 6.05 |
|  S&P Target Date 2035 Index |  | 4.73 | 10.90 | 9.50 | 8.99 | 7.04 |
|  **Target 2045 Allocation Portfolio Class B** | **8/31/2006** | **4.32** | **11.79** | **10.18** | **9.48** | **6.39** |
|  **Target 2045 Allocation Portfolio Class K** | **11/30/2011** | **4.50** | **12.05** | **10.44** | **9.75** | **10.57** |
|  Lipper Mixed-Asset Target 2045 Funds |  | 4.51 | 12.64 | 10.57 | 9.72 | 6.42 |
|  S&P Target Date 2045 Index |  | 5.96 | 12.30 | 10.51 | 9.83 | 7.44 |
|  **Target 2055 Allocation Portfolio Class B** | **4/30/2015** | **4.93** | **12.86** | **11.16** |  | **9.27** |
|  **Target 2055 Allocation Portfolio Class K** | **4/30/2015** | **5.11** | **13.13** | **11.41** |  | **9.53** |
|  Lipper Mixed-Asset Target 2055 Funds |  | 4.49 | 12.53 | 10.49 |  | 8.56 |
|  S&P Target Date 2055 Index |  | 6.24 | 12.65 | 10.80 |  | 9.29 |
|  **EQ/Core Plus Bond Portfolio Class A** | **1/2/1987** | **(3.58)** | **4.15** | **3.22** | **2.43** | **4.98** |
|  **EQ/Core Plus Bond Portfolio Class B** | **10/2/1996** | **(3.59)** | **4.08** | **3.18** | **2.44** | **2.49** |
|  **EQ/Core Plus Bond Portfolio Class K** | **8/25/2011** | **(3.58)** | **4.39** | **3.46** | **2.71** | **2.79** |
|  Lipper Core Plus Bond Funds |  | (4.34) | 2.34 | 2.52 | 2.80 | 5.69 |
|  Bloomberg U.S. Aggregate Bond Index |  | (4.15) | 1.69 | 2.14 | 2.24 | 5.71 |

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**Liquidity Risk Management Program (Unaudited)** 

Consistent with Rule 22e-4 under the 1940 Act, the Portfolios have established a liquidity risk management program to govern their approach to managing liquidity risk (the "Program"). The Board has approved the designation of the Portfolios' Adviser as the program administrator (the "Program Administrator"). The Program Administrator is responsible for implementing and monitoring the Program and has formed a Liquidity Risk Management Committee (the "Committee") to assess and review, on an ongoing basis, each Portfolio's liquidity risk. The Program includes a number of elements that support the management and assessment of liquidity risk, including an annual assessment of liquidity risk factors and the periodic classification (or re-classification, as necessary) of a Portfolio's investments into categories (highly liquid, moderately liquid, less liquid and illiquid) that reflect the Committee's assessment of the investments' liquidity under current market conditions. The Committee also utilizes Portfolio-specific data including information about a Portfolio's investment strategy, the characteristics of its investments, and historical redemptions to determine whether a Portfolio will be able to meet its redemption obligations in a timely manner.

At a meeting of the Board held on November 14-15, 2022, the Trustees received a report from the Committee addressing the operations of the Program and assessing its adequacy and effectiveness of implementation. The report concluded that based on its experience administering the Program, the Program Administrator considers the Program to be operating effectively to assess and manage each Portfolio's liquidity risk, including during any periods of market volatility and net redemptions, and believes that the Program has been and continues to be adequately and effectively implemented to monitor and respond to the Portfolios' liquidity developments.

During the period covered by this report, the Program supported the Portfolios' ability to honor redemption requests in accordance with their obligations and the Program Administrator's management of each Portfolio's liquidity risk, including during any periods of market volatility and net redemptions. There can be no assurance that the Program will achieve its objectives under all circumstances in the future. Please refer to your Portfolio's prospectus for more information about the Portfolio's exposure to liquidity risk and other risks.

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**Federal Income Tax Information (Unaudited)** 

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| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolios:** | **70% Dividend<br>Received<br>Reduction** | **Foreign<br>Taxes** | **Foreign<br>Source Income** | **Long Term<br>Capital Gain** |
|  EQ/Conservative Allocation | 12.67% | $7425 | $403495 | $31699415 |
|  EQ/Conservative-Plus Allocation | 25.25 | 22206 | 1206317 | 65796303 |
|  EQ/Moderate Allocation | 29.82 | 215478 | 11688702 | 462107351 |
|  EQ/Moderate-Plus Allocation | 52.15 | 350086 | 18983599 | 768538150 |
|  EQ/Aggressive Allocation | 82.57 | 188638 | 10220656 | 409693373 |
|  EQ/Core Plus Bond | 0.00 |  |  | 574709 |
|  Target 2015 Allocation | 12.81 | 223 | 10083 | 2176003 |
|  Target 2025 Allocation | 28.82 | 1839 | 83065 | 10865265 |
|  Target 2035 Allocation | 44.33 | 3171 | 143262 | 7077210 |
|  Target 2045 Allocation | 58.32 | 3079 | 139115 | 6251579 |
|  Target 2055 Allocation | 78.87 | 1731 | 78182 | 2798609 |

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**MANAGEMENT OF THE TRUST (UNAUDITED)** 

The Trust's Board is responsible for the overall management of the Trust and the Portfolios, including general supervision and review of the Portfolios' investment activities and their conformity with federal and state law as well as the stated policies of the Portfolios. The Board elects the officers of the Trust who are responsible for administering the Trust's day-to-day operations. The Trustees of the Trust are identified in the table below along with information as to their principal business occupations held during the last five years and certain other information.

**The Trustees** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Name, Address and<br>Year of Birth** | **Position(s) Held<br>With the Trust** | **Term of Office\*\*<br>and Length of<br>Time Served** | **Principal Occupation(s)<br>During Past 5 Years** | **Number of<br>Portfolios in<br>Fund<br>Complex<br>Overseen by<br>Trustee\*\*\*** | **Other Directorships<br>Held by Trustee** |
| &nbsp;&nbsp;&nbsp;**Interested Trustee** | &nbsp;&nbsp;&nbsp;**Interested Trustee** | &nbsp;&nbsp;&nbsp;**Interested Trustee** | &nbsp;&nbsp;&nbsp;**Interested Trustee** | &nbsp;&nbsp;&nbsp;**Interested Trustee** | &nbsp;&nbsp;&nbsp;**Interested Trustee** |
| &nbsp;&nbsp;&nbsp; Steven M. Joenk\*<br> 1290 Avenue of the Americas<br> New York, New York<br> 10104<br> (1958) | Trustee, President and Chief Executive Officer | Trustee from September 2004 to present; Chief Executive Officer from December 2002 to present; President from November 2001 to present; and Chairman of the Board from September 2004 through September 2017 | From May 2011 to present, Chairman of the Board, Chief Executive Officer and President, EIM; from July 2021 to present, Chairman of the Board, Chief Executive Officer and President, Equitable Investment Management, LLC; from April 2017 to 2019, Senior Vice President and Chief Investment Officer of AXA Financial, Inc.; from April 2017 to present, Chief Investment Officer and from September 1999 to November 2021, Managing Director, Equitable Financial. | 125 |  |
| &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** |
| &nbsp;&nbsp;&nbsp; Mark A. Barnard<br> c/o EQ Premier VIP Trust<br> 1290 Avenue of the Americas<br> New York, New York 10104<br> (1949) | Trustee | From<br> April 2017<br> to present | Retired. Previously, Managing Director — Private Investments, Howard Hughes Medical Institute, 2001 to 2016 (and, prior thereto, Director of Private Investments from 1998 to 2001, and Manager of Private Investments from 1995 to 1998). | 125 | None. |
| &nbsp;&nbsp;&nbsp; Thomas W. Brock<br> c/o EQ Premier VIP Trust<br> 1290 Avenue of the Americas<br> New York, New York 10104<br> (1947) | Trustee | From<br> April 2017<br> to present | Retired. Previously, Director, President and Chief Executive Officer of Silver Bay Realty Trust Corp., June 2016 to May 2017 (and, prior thereto, Director and interim President and Chief Executive Officer from January 2016 to June 2016). | 125 | Liberty All-Star Funds (2) |

---

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Name, Address and<br>Year of Birth** | **Position(s) Held<br>With the Trust** | **Term of Office\*\*<br>and Length of<br>Time Served** | **Principal Occupation(s)<br>During Past 5 Years** | **Number of<br>Portfolios in<br>Fund<br>Complex<br>Overseen by<br>Trustee\*\*\*** | **Other Directorships<br>Held by Trustee** |
| &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** |
| &nbsp;&nbsp;&nbsp; Michael B. Clement<br> c/o EQ Premier VIP Trust<br> 1290 Avenue of the Americas<br> New York, NY 10104<br> (1957) | Trustee | From<br> January 2019<br> to present | Professor of Accounting, University of Texas, from 1997 to 2002 and from 2004 to present (Department of Accounting Chair from 2018 to 2022); Visiting Professor, Harvard Business School, 2023 to present. | 125 | New York Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Donald E. Foley<br> c/o EQ Premier VIP Trust<br> 1290 Avenue of the Americas<br> New York, New York 10104<br> (1951) | Trustee | From<br> April 2017<br> to present | Retired. Previously, Chairman of the Board and Chief Executive Officer, Wilmington Trust Corporation, 2010 to 2011; Senior Vice President, Treasurer and Director of Tax, ITT Corporation, 1996 to 2010. | 125 | BioSig Technologies, Inc.; Wilmington Funds (12) |
| &nbsp;&nbsp;&nbsp; Patricia M. Haverland<br> c/o 1290 Funds<br> 1290 Avenue of the Americas<br> New York, NY 10104<br> (1956) | Trustee | April 2022 to present | Retired. Previously, Vice President and Chief Investment Officer North America Pensions, SIEMENS, 2009 to 2018. | 125 | None. |
| &nbsp;&nbsp;&nbsp; H. Thomas McMeekin<br> c/o EQ Premier VIP Trust<br> 1290 Avenue of the Americas<br> New York, New York 10104<br> (1953) | Trustee | From<br> April 2017<br> to present | Managing Partner and Founder, Griffin Investments, LLC, 2000 to present; CEO of Blue Key Services, LLC., 2015 to present; previously, Chief Investment Officer, AIG Life & Retirement and United Guaranty Corporation and Senior Managing Director of AIG Asset Management, 2009 to 2012. | 125 | Blue Key Services, LLC; Achaean Financial Group |
| &nbsp;&nbsp;&nbsp; Jeffery S. Perry<br> c/o 1290 Funds<br> 1290 Avenue of the Americas<br> New York, NY 10104<br> (1965) | Trustee | April 2022 to present | Founder and Chief Executive Officer, Lead Mandates LLC (business and leadership advisory firm). Retired, Global Client Service Partner, Ernst & Young LLP, 2004 to 2020. | 125 | Fortune Brands Innovations, Inc.; MasterBrand, Inc. |
| &nbsp;&nbsp;&nbsp; Gary S. Schpero<br> c/o EQ Premier VIP Trust<br> 1290 Avenue of the Americas<br> New York, New York 10104<br> (1953) | Chairman of the Board | From April 2017 to present Independent Trustee, from October 1, 2017 to present, Chairman of the Board and from April 2017 through September 2017, Lead Independent Trustee | Retired. Prior to January 1, 2000, Partner of Simpson Thacher & Bartlett (law firm) and Managing Partner of the Investment Management and Investment Company Practice Group. | 125 | Blackstone Funds (4) |

---

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Name, Address and<br>Year of Birth** | **Position(s) Held<br>With the Trust** | **Term of Office\*\*<br>and Length of<br>Time Served** | **Principal Occupation(s)<br>During Past 5 Years** | **Number of<br>Portfolios in<br>Fund<br>Complex<br>Overseen by<br>Trustee\*\*\*** | **Other Directorships<br>Held by Trustee** |
| &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** | &nbsp;&nbsp;&nbsp;**Independent Trustees#** |
| &nbsp;&nbsp;&nbsp; Kathleen Stephansen<br> c/o EQ Premier VIP Trust<br> 1290 Avenue of the Americas<br> New York, NY 10104<br> (1954) | Trustee | From January 1, 2019 to present | Senior Economist, Haver Analytics, 2019 to present; Senior Economic Advisor, Boston Consulting Group, Chief Economist, Huawei Technologies USA Inc., Chief Economist and Global Head of Sovereign Research American Insurance Group (AIG). | 125 | None. |

---

\* Affiliated with the portfolios' investment manager and the distributor.

\*\* Each Trustee serves during the existence of the Trust until the next meeting of shareholders called for the purpose of electing Trustees and until the election and qualification of his or her successor or, if sooner, until he or she dies, declines to serve, resigns, retires, is removed, is incapacitated or is otherwise unable or unwilling to serve. Each Independent Trustee shall retire from the Board as of the last day of the calendar year in which he or she attains the age of 75 years. The Trust's retirement policy is subject to periodic review by the Trust's Governance Committee, which may recommend for Board approval any changes to the policy that it determines to be appropriate. 

\*\*\* The registered investment companies in the fund complex include EQ Advisors Trust, 1290 Funds and the Trust.

Additional information about the Trustees is available in the Portfolios' Statement of Additional Information, which can be obtained, without charge, by calling 1-877-222-2144.

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**The Trust's Officers** 

No officer, other than the Chief Compliance Officer, of the Trust receives any compensation paid by the Trust. Each officer of the Trust is an employee of Equitable Financial, EIM and/or Equitable Distributors. The Trust's principal officers are:

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Name, Year of Birth and<br>Address\*** | **Position(s) Held<br>With the Trust\*\*** | **Term of Office\*\*\*<br>and Length of<br>Time Served** | **Principal Occupation(s)**<br> **During Past 5 Years** |
| &nbsp;&nbsp;&nbsp;Steven M. Joenk<br>(1958) | Trustee and Chief Executive Officer | Trustee from September 2004 to present; Chief Executive Officer from December 2002 to present; and Chairman of the Board from September 2004 through September 2017 | Chairman of the Board and Chief Executive Officer (May 2011 to present) and President (May 2011 to November 2021) of EIM; Chairman of the Board and Chief Executive Officer of Equitable Investment Management, LLC (January 2023 to present); Senior Vice President and Chief Investment Officer of AXA Financial, Inc. (April 2017 to 2019); and Chief Investment Officer (April 2017 to present) and employee (September 1999 to present) of Equitable Financial. |
| &nbsp;&nbsp;&nbsp;Brian Walsh<br>(1968) | Chief Financial Officer and Treasurer | From June 2007 to present | Director (February 2011 to present) and Senior Vice President (May 2011 to present) of EIM; Senior Vice President of Equitable Investment Management, LLC (January 2023 to present); and Signatory Officer (November 2021 to present) and employee (February 2003 to present) of Equitable Financial. |
| &nbsp;&nbsp;&nbsp;Joseph J. Paolo<br>(1970) | Chief Compliance Officer, Vice President and Anti- Money Laundering Compliance Officer | Chief Compliance Officer from May 2007 to present, Vice President and Anti- Money Laundering Compliance Officer from November 2005 to present | Chief Compliance Officer (June 2007 to present) and Senior Vice President (May 2011 to present) of EIM; Vice President and Chief Compliance Officer of Equitable Investment Management, LLC (January 2023 to present); and Signatory Officer (November 2021 to present) and employee (June 2007 to present) of Equitable Financial. |
| &nbsp;&nbsp;&nbsp;Kenneth Kozlowski<br>(1961) | Senior Vice President and Chief Investment Officer | Vice President from June 2010 to March 2017; Senior Vice President and Chief Investment Officer from March 2017 to present | Executive Vice President and Chief Investment Officer (June 2012 to present) and Director (May 2017 to present) of EIM; Executive Vice President of Equitable Investment Management, LLC (January 2023 to present); and Signatory Officer (November 2021 to present) and employee (February 2001 to present) of Equitable Financial. |
| &nbsp;&nbsp;&nbsp;Alwi Chan<br>(1974) | Vice President and Deputy Chief Investment Officer | Vice President from June 2007 to March 2017; Deputy Chief Investment Officer from March 2017 to present | Senior Vice President and Deputy Chief Investment Officer of EIM (June 2012 to present); and employee of Equitable Financial (June 1999 to present). |
| &nbsp;&nbsp;&nbsp;Michal Levy<br>(1979) | President | From February 2023 to present | Director (December 2014 to present), President (December 2021 to present), and Chief Operating Officer (March 2017 to present) of EIM; Executive Vice President and Chief Operating Officer of Equitable Investment Management, LLC (January 2023 to present); and Signatory Officer (November 2021 to present) and employee (October 2011 to present) of Equitable Financial. |
| &nbsp;&nbsp;&nbsp;James Chen<br>(1988) | Vice President and Director of Risk | From August 2022 to present | Vice President of EIM (July 2022 to present); Vice President of Equitable Investment Management, LLC (January 2023 to present); employee of Equitable Financial (2015 to present). |

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Name, Year of Birth and<br>Address\*** | **Position(s) Held<br>With the Trust\*\*** | **Term of Office\*\*\*<br>and Length of<br>Time Served** | **Principal Occupation(s)**<br> **During Past 5 Years** |
| &nbsp;&nbsp;&nbsp;James Kelly<br>(1968) | Controller | From June 2007 to present | Vice President of EIM (May 2011 to present); Vice President of Equitable Investment Management, LLC (January 2023 to present); and employee of Equitable Financial (September 2008 to present). |
| &nbsp;&nbsp;&nbsp;Andrew Houston<br>(1990) | Vice President | From September 2022 to present | Vice President of EIM (July 2022 to present), Vice President of Equitable Investment Management, LLC (January 2023 to present); and employee of Equitable Financial (2017 to present). |
| &nbsp;&nbsp;&nbsp;Miao Hu<br>(1978) | Vice President | From March 2017 to present | Assistant Portfolio Manager (May 2016 to present) and Vice President (June 2016 to present) of EIM; and employee of Equitable Financial (November 2013 to present). |
| &nbsp;&nbsp;&nbsp;Kevin McCarthy<br>(1983) | Vice President | From September 2019 to present | Assistant Portfolio Manager (December 2018 to present) and Vice President (July 2022) of EIM; and employee of Equitable Financial (August 2015 to present). |
| &nbsp;&nbsp;&nbsp;Xavier Poutas<br>(1977) | Vice President | From March 2017 to present | Assistant Portfolio Manager (May 2011 to present) and Vice President (June 2016 to present) of EIM; and employee of Equitable Financial (August 2002 to present). |
| &nbsp;&nbsp;&nbsp;Maureen E. Kane, Esq.<br>(1962) | Chief Legal Officer, Senior Vice President and Secretary | From November 2022 to present | Executive Vice President, Secretary and General Counsel of EIM (October 2022 to present); Executive Vice President, Secretary and General Counsel of Equitable Investment Management, LLC (January 2023 to present); employee of Equitable Financial (February 2019 to present); and Managing Director and Managing Counsel of The Bank of New York Mellon (July 2014 to February 2019). |
| &nbsp;&nbsp;&nbsp;Kristina B. Magolis, Esq.<br>(1985) | Vice President and Assistant Secretary | From November 2022 to present | Vice President, Assistant Secretary and Associate General Counsel of EIM (October 2022 to present); Vice President, Assistant Secretary and Associate General Counsel of Equitable Investment Management, LLC (January 2023 to present); employee of Equitable Financial (October 2022 to present); and Vice President, Legal and Compliance, Morgan Stanley Investment Management (August 2017 to September 2022). |
| &nbsp;&nbsp;&nbsp;Nadia Persaud, Esq.<br>(1977) | Vice President<br> and Assistant Secretary | From December 2021 to present | Vice President, Assistant Secretary and Associate General Counsel of EIM (December 2021 to present); Vice President, Assistant Secretary and Associate General Counsel of Equitable Investment Management, LLC (January 2023 to present); employee of Equitable Financial (December 2021 to present); Director and Senior Counsel of ICE Data Services (August 2020 to October 2021); Vice President of BlackRock (July 2019 to July 2020); and Vice President and Associate General Counsel of OppenheimerFunds (January 2017 to May 2019). |
| &nbsp;&nbsp;&nbsp;Artemis Brannigan<br>(1974) | Vice President | From September 2019 to present | Vice President of EIM (August 2019 to present); Vice President of Equitable Investment Management, LLC (January 2023 to present); employee of Equitable Financial (August 2019 to present); and Director of Prudential Financial (January 2016 to July 2019). |
| &nbsp;&nbsp;&nbsp;Aysha Pride<br>(1988) | Vice President | From August 2022 to present | Vice President of EIM (July 2022 to present); Vice President of Equitable Investment Management, LLC (January 2023 to present); and employee of Equitable Financial (2014 to present). |
| &nbsp;&nbsp;&nbsp;Helen Lai<br>(1973) | Assistant Vice President | From March 2017 to present | Employee of Equitable Financial (March 2013 to present). |
| &nbsp;&nbsp;&nbsp;Roselle Ibanga<br>(1978) | Assistant Controller | From February 2009 to present | Employee of Equitable Financial (February 2009 to present). |

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------

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Name, Year of Birth and<br>Address\*** | **Position(s) Held<br>With the Trust\*\*** | **Term of Office\*\*\*<br>and Length of<br>Time Served** | **Principal Occupation(s)**<br> **During Past 5 Years** |
| &nbsp;&nbsp;&nbsp;Lisa Perrelli<br>(1974) | Assistant Controller | From February 2009 to present | Employee of Equitable Financial (November 2002 to present). |
| &nbsp;&nbsp;&nbsp;Jennifer Mastronardi<br>(1985) | Assistant Vice President | From March 2012 to present | Vice President of EIM (April 2015 to present); Vice President of Equitable Investment Management, LLC (January 2023 to present); and employee of Equitable Financial (February 2009 to present). |
| &nbsp;&nbsp;&nbsp;Helen Espaillat<br>(1963) | Assistant Secretary | From March 2017 to present | Assistant Vice President and Assistant Secretary of EIM (March 2015 to present); Assistant Vice President and Assistant Secretary of Equitable Investment Management, LLC (January 2023 to present); and employee of Equitable Financial (July 2004 to present). |
| &nbsp;&nbsp;&nbsp;Lorelei Fajardo<br>(1978) | Assistant Secretary | From March 2014 to present | Employee of Equitable Financial (July 2013 to present). |
| &nbsp;&nbsp;&nbsp;Cheryl Cherian<br>(1979) | Assistant Secretary | From June 2019 to present | Employee of Equitable Financial (April 2019 to present); and Compliance Associate at Manifold Fund Advisors (November 2016 to March 2018). |
| &nbsp;&nbsp;&nbsp;Monica Giron<br>(1976) | Assistant Secretary | From July 2019 to present | Employee of Equitable Financial (June 2019 to present); and Senior Paralegal at Gemini Fund Services (August 2015 to May 2019). |

---

\* The business address of each officer is 1290 Avenue of the Americas, New York, New York 10104.

\*\* The officers in the table above hold similar positions with EQ Advisors Trust and the 1290 Funds, the other registered investment companies in the fund complex.

\*\*\* Each officer is elected on an annual basis.

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**CONTROL PERSON AND PRINCIPAL HOLDERS OF SECURITIES (UNAUDITED)** 

Equitable Financial may be deemed to be a control person with respect to the Trust by virtue of its record ownership of a substantial majority of the Trust's shares. Shareholders owning more than 25% of the outstanding shares of a Portfolio may be able to determine the outcome of most issues that are submitted to shareholders for a vote.

**PROXY VOTING POLICIES AND PROCEDURES (UNAUDITED)** 

A description of the policies and procedures that the Portfolios use to determine how to vote proxies relating to portfolio securities is available (i) without charge, upon request, by calling a toll-free number at 1-877-222-2144 and (ii) on the Securities and Exchange Commission's website at http://www.sec.gov. Information regarding how the Portfolios voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available without charge (i) on the Trust's website at www.equitable-funds.com and (ii) on the Securities and Exchange Commission's website at http://www.sec.gov.

**QUARTERLY PORTFOLIO HOLDINGS INFORMATION (UNAUDITED)** 

The Portfolios file their complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Portfolios' Form N-PORT reports are available on the Securities and Exchange Commission's website at http://www.sec.gov.

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Item 1 (b) Not Applicable.

Item 2. Code of Ethics.

As of the end of the period covered by this report, the registrant has adopted a "code of ethics," as defined in Item 2, that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. A copy of the registrant's code of ethics is filed as an exhibit pursuant to Item 13(a)(1).

Item 3. Audit Committee Financial Expert.

The registrant's board of trustees has determined that Michael Clement and Donald E. Foley serve on its audit committee as "audit committee financial expert" as defined in Item 3. Messrs. Clement and Foley are considered to be "independent" for purposes of Item 3(a)(2).

Item 4. Principal Accountant Fees and Services.

(a) Audit Fees for fiscal year 2022: $334,918 and for fiscal year 2021: $320,908

(b) Audit-Related Fees for fiscal year 2022: $0 and for fiscal year 2021: $67,000

(c) Tax Fees for fiscal year 2022: $96,511 and for fiscal year 2021: $197,204

Tax fees include amounts related to tax compliance, tax advice and tax planning.

(d) All Other Fees for fiscal year 2022: $0 and for fiscal year 2021: $0.

All other fees include amounts related to consultation on or review of the registrant's various regulatory filings.

(e)(1) The registrant's Audit Committee has adopted policies and procedures relating to the pre-approval of services performed by the registrant's principal accountant. Audit, audit-related and non-audit services (including tax services) provided to the registrant require pre-approval by the Audit Committee. In the event that the estimated fees for such pre-approved audit, audit-related and non-audit services exceed the pre-approved estimated fees for such services, the excess amount must be approved by the Audit Committee or its delegate prior to payment.

(e)(2) None of the services included in (b) – (d) above were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Not applicable.

(g) For Fiscal year 2022: $96,511

For fiscal year 2021: $197,204

------

(h) The registrant's audit committee has considered and determined that the provision of non-audit services that were rendered to the registrant's investment adviser (not including any sub-advisers whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Schedule of Investments.

A schedule of investments for each series of the Trust is included in each report to shareholders.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders. <br>

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees.

Item 11. Controls and Procedures.

(a) The registrant's principal executive and principal financial officers, or persons performing similar
functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended ("1940 Act")) are effective
as of a date within 90 days prior to the filing date of this report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940.

(b) The registrant's certifying officers are not aware of any changes in the registrant's internal
control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting.

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Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies

Not applicable.

Item 13. Exhibits.

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| | |
|:---|:---|
| (a)(1) | [The Code of Ethics for Senior Officers of the Registrant is filed herewith.](d401146dex99codeeth.htm) |
| (a)(2) | [Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are filed herewith.](d401146dex99cert.htm) |
| (b) | [Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are filed herewith.](d401146dex99906cert.htm) |

---

------

**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.

EQ Premier VIP Trust

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| | |
|:---|:---|
| By: | /s/ Steven M. Joenk |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Steven M. Joenk |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer |
|  | &nbsp;&nbsp;&nbsp;&nbsp; March 3, 2023 |

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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.

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| | |
|:---|:---|
| By: | /s/ Steven M. Joenk |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Steven M. Joenk |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer |
|  | &nbsp;&nbsp;&nbsp;&nbsp; March 3, 2023 |
| By: | /s/ Brian E. Walsh |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Brian E. Walsh |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer and Treasurer |
|  | &nbsp;&nbsp;&nbsp;&nbsp; March 3, 2023 |

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## Ex-99.Code

Exhibit (a)(1)

**CODE OF ETHICS FOR SENIOR OFFICERS OF** 

**EQ PREMIER VIP TRUST** 

**EQ ADVISORS TRUST** 

**1290 FUNDS** 

**(individually a "Trust" and collectively, the "Trusts")** 

**(Effective as of June 10, 2014)** 

This Code of Ethics for Senior Officers ("Code") has been adopted by each of the investment companies for which Equitable Investment Management Group, LLC and Equitable Investment Management, LLC (collectively, "EIM" or "Adviser") acts as investment adviser to effectuate compliance with Section 406 of the Sarbanes-Oxley Act of 2002 and the rules adopted to implement Section 406.

This Code applies to each Trust's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions ("Covered Officers"). A listing of positions corresponding to Covered Officers is attached as Exhibit A.<sup>1</sup> Equitable Investment Management, LLC ("Administrator") serves as administrator to the Trusts and is generally responsible for monitoring, testing and maintaining compliance policies, procedures and other items for the Trusts, and thus assists in monitoring compliance with applicable requirements pursuant to this Code.

1. <u>Purpose of the Code of Ethics for Senior Officers of the Trusts</u> 

This Code sets forth standards and procedures that are reasonably designed to deter wrongdoing and promote:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between
personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• full, fair, accurate, timely and understandable disclosure in reports and documents that a Trust files with, or
submits to, the U.S. Securities and Exchange Commission ("SEC") and in other public communications made by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with applicable governmental laws, rules and regulations;

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<sup>1</sup> The obligations imposed by this Code on Covered Officers are in addition to any obligations imposed on such persons as Covered Persons under the Code of Ethics adopted by the Trusts pursuant to Rule 17j-1 under the Investment Company Act of 1940, as amended, and any other code of conduct (*e.g.*, Equitable Financial's Policy Statement on Ethics) applicable to Covered Officers. This Code does not incorporate by reference any of such other codes and, accordingly, violations of those codes will not be necessarily considered violations of this Code and waivers granted under those codes will not necessarily require a waiver to be granted under this Code. Sanctions imposed under those codes, however, will be considered in determining sanctions under this Code. 

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the prompt internal reporting of violations of this Code to the Code Administrator identified below; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• accountability for adherence to this Code.

In general, the principles that govern honest and ethical conduct, including the avoidance of conflicts of interest between personal and professional relationships, reflect, at the minimum, the following: (1) the duty at all times in performing any responsibilities as a Covered Officer to place the interests of the Trusts ahead of personal economic issues; (2) the fundamental standard that Covered Officers should not take inappropriate advantage of their positions; and (3) the duty to assure that a Trust's financial statements are prepared honestly and accurately in accordance with applicable rules, regulations and accounting standards.

2. <u>Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest</u> 

For purposes of this Code, a "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his or her service to a Trust. For example, a conflict of interest would arise if a Covered Officer, or a member of his or her family, receives improper personal benefits as a result of his or her position in a Trust.

Certain conflicts of interest arise out of the relationships between Covered Officers and the Trusts and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended ("Investment Company Act"), and the Investment Advisers Act of 1940, as amended ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Trust because of their status as "affiliated persons" of a Trust. The Trusts' and the Adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts also arise from, or as a result of, the contractual relationship between a Trust and the Adviser, of which the Covered Officers are also officers or employees. This Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for a Trust or for the Adviser, or for both), be involved in establishing policies and implementing decisions that will have different effects on the Adviser and a Trust. The participation of the Covered Officers in such activities is inherent in the contractual relationship between each Trust and the Adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Trusts. If addressed in conformity with the provisions of the Investment Company Act and Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by each Trust's Board of Trustees that the Covered Officers also may be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. In reading the prohibitions listed in Section 3 below, Covered Officers should keep in mind that the list is not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of a Trust.

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3. <u>Prohibitions</u> 

A Covered Officer shall not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• use his or her position with a Trust for private economic gain to himself or herself, his or her family or
friends or any other person, or in a manner detrimental to the interests of any Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• use his or her personal influence or personal relationships to influence the preparation and issuance of
financial reports of a Trust whereby the Covered Officer would benefit personally to the detriment of the Trust and its shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cause a Trust to take action, or fail to take action, for the individual personal benefit of the Covered Officer
rather than the benefit of the Trust; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• exercise inappropriate influence in connection with his or her official acts on behalf of a Trust that causes a
Trust to violate applicable laws, rules and regulations.

Specifically, a Covered Officer shall not, in connection with carrying out his or her official duties and responsibilities on behalf of a Trust:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) employ any device, scheme or artifice to defraud a Trust or its shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) intentionally cause a Trust to make any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading in its official documents, filings, financial statements or communications to the public;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon a Trust or its shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) engage in any manipulative practice with respect to a Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) use his or her personal influence or personal relationships to influence investment decisions or financial reporting by a Trust whereby the Covered Officer would benefit personally to the detriment of the Trust or its shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) intentionally cause a Trust to fail to comply with applicable laws, rules and regulations, including failure to comply with the requirement to provide full, fair, accurate, timely and understandable disclosure in reports and documents that the Trust files with, or submits to, the Commission and in other public communications made by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) intentionally mislead or omit to provide material information to a Trust's independent auditors or Board of Trustees or other officers of the Trust or its Adviser in connection with financial reporting matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) fail to notify the Code Administrator promptly if he or she becomes aware of any existing or potential violation of this Code or applicable laws;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) retaliate against others for, or otherwise discourage the reporting of, actual or apparent violations of the Code or applicable laws;<sup>2</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) serve as a director on the board of any public or private company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) have any ownership interest in, or any consulting or employment relationship with, any of the Trusts' service providers, other than its Adviser, principal underwriter, administrator or any affiliated person thereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) fail to acknowledge or certify compliance with this Code.

4. <u>Reports of Conflicts of Interest</u> 

If a Covered Officer becomes aware of a conflict of interest or, to the Covered Officer's reasonable belief, the appearance of one, he or she must immediately report the matter to the Code Administrator. Failure to do so is itself a violation of this Code.

Upon receipt of such a report of a conflict, the Code Administrator will take proper steps to determine whether a conflict exists. If the Code Administrator determines that an actual conflict exists, the Code Administrator will take steps to resolve the conflict in the interests of the Trust and its shareholders. If the Code Administrator determines that no conflict exists and informs the Covered Officer of that conclusion, no further action is required.

In lieu of the procedures described above, the Code Administrator may refer the matter to the appropriate Trust's Board of Trustees for resolution.

5. <u>Waivers</u> 

Any Covered Officer may request a waiver of any of the provisions of this Code by submitting a written request for such waiver to the Code Administrator, setting forth the basis of such request and explaining how the waiver would be consistent with the standards of conduct described herein. The Code Administrator shall review such request and make a determination thereon in writing, which shall be binding.

In determining whether to waive any of the provisions of this Code, the Code Administrator shall consider whether the proposed waiver:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) would permit a Covered Officer to engage in activities that are prohibited by Section 3 above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) is consistent with honest and ethical conduct; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) will result in a conflict of interest between the Covered Officer's personal and professional relationships.

In lieu of determining whether to grant a waiver, the Code Administrator may refer the matter to the appropriate Trust's Board of Trustees for resolution.

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<sup>2</sup> Covered Officers should make clear to officers and other employees that the Covered Officers maintain an "open door" policy that encourages the exchange of information, including the reporting of concerns of the type that this Code is designed to address.

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6. <u>Reporting and Accountability</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All Covered Officers shall be provided with a copy of the Code and shall, at least annually, certify in writing that they have read and understands the Code and recognize that they are subject thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) All Covered Officers shall certify annually in writing that they have complied with the requirements of the Code and that they have disclosed or reported any violations of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Code Administrator, with the assistance of the Administrator, shall submit a report to the Board of Trustees of each Trust no less frequently than annually containing: (i) a description of any report of a conflict of interest or apparent conflict of interest and the disposition thereof; (ii) a description of any request for a waiver from the Code and the disposition thereof; (iii) any violation and the sanction imposed; (iv) interpretations issued under the Code by the Code Administrator; and (v) any other significant information arising under the Code, including any proposed amendments thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Code Administrator, with the assistance of Administrator, will arrange for any required disclosure of any waivers granted or any "implicit waivers." An "implicit waiver" is the failure to take action within a reasonable period of time regarding a material departure from a provision of the Code that has been made known to an executive officer of the Trust or EIM or the Code Administrator.

7. <u>Periodic Review</u> 

The Board of Trustees of each Trust shall periodically review, as necessary, the Code and determine whether any amendments are necessary or desirable.

8. <u>Sanctions</u> 

Any violation of this Code shall be subject to the imposition of such sanctions by the Code Administrator as may be deemed appropriate under the circumstances to achieve the purposes of this Code, and taking into account sanctions imposed under any other code of conduct applicable to the Covered Officer, and may include a letter of censure, suspension from employment or termination of employment, in the discretion of the Code Administrator.

9. <u>Administration and Construction</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The administration of this Code shall be the responsibility of the (1) General Counsel of the Adviser or other designated senior legal officer of each Trust's Adviser ("Code Administrator") and (2) Chief Compliance Officer ("CCO") of the Trust, acting under the terms of this Code and the oversight of each Trust's Board of Trustees. Administrator shall provide assistance with this process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The duties of such Code Administrator and the CCO, with the assistance of Administrator, will include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Continuous maintenance of a current list of the names of all Covered Officers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Furnishing all Covered Officers with a copy of this Code and initially and periodically informing them of their duties and obligations thereunder;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Maintaining or supervising the maintenance of all records required by the Code, as set forth in Section 10 below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Issuing any interpretation of this Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Conducting such inspections or investigations as shall reasonably be required to detect and report, with his or her recommendations, any apparent violations of this Code to Equitable and to the Trustees or the affected Trusts or any committee appointed by them to deal with such information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Periodically conducting educational training programs as needed to explain and reinforce the terms of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In rendering decisions and interpretations and in conducting inspections or investigations under the Code, the Code Administrator and CCO may consult at his or her discretion with such persons as he or she determines to be appropriate, including, but not limited to, counsel to a Trust and independent auditors or other consultants, subject to any requirement to seek pre-approval from the appropriate Trust's audit committee for the retention of independent auditors to perform permissible non-audit services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each Trust shall protect, indemnify and hold harmless the Code Administrator and CCO from any liability hereunder or under any applicable law, rule or regulation, for decisions made in good faith based upon his or her reasonable judgement.

10. <u>Required Records</u> 

The Code Administrator, with the assistance of Administrator, shall maintain and cause to be maintained in an easily accessible place the following records for the period required by applicable SEC rules (currently six years following the end of the fiscal year of a Trust in which the applicable event or report occurred):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A copy of any Code that has been in effect during the period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A record of any violation of such Code and of any action taken as a result of such violation during the period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A copy of each annual report made by a Covered Officer during the period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A copy of each report made by the Code Administrator during the period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) A list of all Covered Officers who are or have been required to make reports pursuant to this Code during the
period, plus those person(s) who are or were responsible for reviewing these reports;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) A record of any request to waive any requirement of the Code, the decision thereon and the reasons supporting
the decision during the period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) A record of any report of a conflict of interest or appearance of a conflict of interest made during the
period, the decision thereon and the reasons supporting the decision during the period.

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All reports and records prepared or maintained pursuant to this Code shall be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or by the Code, such matters shall not be disclosed to anyone other than the Adviser, each Trust's Board of Trustees, counsel to the Independent Trustees of each Trust, and counsel to each Trust.

11. <u>Amendments and Modifications</u> 

This Code may not be amended or modified except in a written form that is specifically approved by a majority vote of the Independent Trustees of each Trust.

12. <u>Internal Use</u> 

The Code is intended solely for the internal use by each Trust and does not constitute an admission, by or on behalf of any Trust, as to any fact, circumstance, or legal conclusion.

Adopted by the EQ Premier VIP Trust Board of Trustees: March 16, 2011

Predecessor Procedures of the Investment Manager Adopted: September 17; 2003

Amendment Approved: July 24, 2008

Adopted by the EQ Advisors Trust Board of Trustees March 1, 2011

Predecessor Procedures of the Investment Manager Adopted: September 10, 2003

Amendment Approved: July 9, 2008

Adopted by the 1290 Funds Board of Trustees June 10, 2014

Amended: August 2021

Amended: January 2023

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**Exhibit A** 

**Positions Covered by the Code of Ethics for Senior Officers** 

<u>Each Trust (as appropriate)</u>

Chief Executive Officer

Chief Financial Officer

Treasurer

Assistant Treasurer

Controller

## Ex-99.Cert

**Exhibit (a)(2)** 

I, Steven M. Joenk, certify that:

1. I have reviewed this report on Form N-CSR of EQ Premier VIP Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: March 3, 2023 | /s/ Steven M. Joenk |
|  | Steven M. Joenk |
|  | Chief Executive Officer |

---

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I, Brian E. Walsh, certify that:

1. I have reviewed this report on Form N-CSR of EQ Premier VIP Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: March 3, 2023 | /s/ Brian E. Walsh |
|  | Brian E. Walsh |
|  | Chief Financial Officer and Treasurer |

---

## Exhibit 99.906

**Exhibit (b)** 

Certifications Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Report on Form N-CSR for EQ Premier VIP Trust (the "Registrant"), the undersigned hereby certifies, to the best of his knowledge, that:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: March 3, 2023

---

| |
|:---|
| /s/ Steven M. Joenk |
| Steven M. Joenk |
| Chief Executive Officer |

---

In connection with the Report on Form N-CSR for EQ Premier VIP Trust (the "Registrant"), the undersigned hereby certifies, to the best of his knowledge, that:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: March 3, 2023

---

| |
|:---|
| /s/ Brian E. Walsh |
| Brian E. Walsh |
| Chief Financial Officer and Treasurer |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to EQ Premier VIP Trust and will be retained by EQ Premier VIP Trust and furnished to the Securities and Exchange Commission or its staff upon request.

These certifications are being furnished to the Securities and Exchange Commission pursuant to Rule 30a-2(b) under the Investment Company Act of 1940, as amended, and 18 U.S.C. § 1350 and are not being filed as part of the Report with the Securities and Exchange Commission.